Nasdaq, Inc. (NDAQ) Financial Statements
Industry: Security & Commodity Brokers, Dealers, Exchanges & Services
In fiscal 2025, Nasdaq reported revenue of $8.26B, up 11.6% from $7.40B the year before. Net income was $1.79B (a 21.6% net margin), or $3.09 per diluted share. Gross margin was 63.5% and operating margin was 28.2%. Operating activities generated $2.25B of cash, leaving $1.99B of free cash flow. At fiscal year end, Nasdaq held $31.05B in total assets against $18.82B in total liabilities, including $604.0M of cash and equivalents.
Open the full interactive Nasdaq financials → Quarterly statements, key ratios, valuation history and price charts.
Nasdaq Key Stats
| Share Price | $93.48 |
|---|---|
| Market Cap | $53.07B |
| P/E Ratio | 30.3 |
| Dividend Yield | 1.20% |
| Revenue YoY Growth | +11.7% |
| 52-Week Range | $76.59 – $99.96 |
| Shares Outstanding | 564.2 million (basic, 2026 Q2) |
Nasdaq Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.63B | $5.89B | $6.23B | $6.06B | $7.40B | $8.26B |
| Cost of Goods Sold | — | — | — | $2.17B | $2.75B | $3.01B |
| Gross Profit | $2.90B | $3.42B | $3.58B | $3.90B | $4.65B | $5.25B |
| Operating Income | $1.23B | $1.44B | $1.56B | $1.58B | $1.80B | $2.33B |
| Pre-Tax Income | $1.21B | $1.53B | $1.48B | $1.40B | $1.45B | $2.15B |
| Income Tax | $279.0M | $347.0M | $352.0M | $344.0M | $334.0M | $358.0M |
| Net Income | $933.0M | $1.19B | $1.12B | $1.06B | $1.12B | $1.79B |
| Diluted EPS | $1.86 | $2.35 | $2.26 | $2.08 | $1.93 | $3.09 |
Nasdaq Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.96B | $2.12B | $2.14B | $2.53B |
| Net Income | $423.0M | $518.0M | $519.0M | $507.0M |
| Diluted EPS | $0.73 | $0.90 | $0.91 | $0.89 |
Nasdaq Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.75B | $393.0M | $502.0M | $453.0M | $592.0M | $604.0M |
| Current Assets | $7.66B | $7.42B | $8.60B | $9.10B | $7.79B | $8.00B |
| Total Assets | $17.98B | $20.11B | $20.87B | $32.29B | $30.39B | $31.05B |
| Current Liabilities | $4.92B | $7.87B | $8.84B | $9.03B | $7.90B | $7.96B |
| Total Long-Term Debt | $5.54B | $4.81B | $4.74B | $10.16B | $9.08B | $8.57B |
| Total Liabilities | $11.54B | $13.71B | $14.70B | $21.47B | $19.20B | $18.82B |
| Shareholders' Equity | $6.43B | $6.39B | $6.15B | $10.82B | $11.19B | $12.23B |
Nasdaq Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.25B | $1.08B | $1.71B | $1.70B | $1.94B | $2.25B |
| Cash From Investing | -$231.0M | -$2.65B | $49.0M | -$5.99B | -$953.0M | -$1.10B |
| Cash From Financing | $1.38B | $1.42B | $1.04B | $4.22B | -$2.56B | -$2.95B |
| Free Cash Flow | $1.06B | $920.0M | $1.55B | $1.54B | $1.73B | $1.99B |
| Dividends Paid | $320.0M | $350.0M | $383.0M | $441.0M | $541.0M | $601.0M |
Figures from Nasdaq's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Nasdaq financials page for every line item.
Nasdaq Company Profile
| Ticker | NDAQ |
|---|---|
| Exchange | Nasdaq |
| Industry | Security & Commodity Brokers, Dealers, Exchanges & Services |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001120193 |
Frequently Asked Questions
What was Nasdaq's revenue in fiscal 2025?
Nasdaq (NDAQ) reported revenue of $8.26B for fiscal 2025.
What is Nasdaq's annual revenue history?
Nasdaq's annual revenue by fiscal year: 2020: $5.63B; 2021: $5.89B; 2022: $6.23B; 2023: $6.06B; 2024: $7.40B; 2025: $8.26B.
What was Nasdaq's net income in fiscal 2025?
Nasdaq reported net income of $1.79B for fiscal 2025.
What was Nasdaq's earnings per share (EPS) in fiscal 2025?
Nasdaq's diluted EPS was $3.09 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Nasdaq generate in fiscal 2025?
Nasdaq generated $1.99B of free cash flow in fiscal 2025.
What was Nasdaq's revenue last quarter?
In its most recent reported quarter (2026 Q2), Nasdaq reported revenue of $2.53B.
How much debt does Nasdaq have?
Nasdaq reported $8.57B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Nasdaq are outstanding?
Nasdaq reported a weighted average of 564.2 million basic shares outstanding in 2026 Q2.
What is Nasdaq's market cap?
Based on its latest closing price, Nasdaq (NDAQ) has a market capitalization of about $53.07B.
When does Nasdaq's fiscal year end?
Nasdaq's fiscal year end, as registered with the SEC, is December 31.
Where is Nasdaq headquartered?
Nasdaq lists its business address in New York, New York in its SEC filings.
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