Nasdaq, Inc. logo NDAQ - Nasdaq, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 22
HOLD 13
SELL 1
STRONG
SELL 0
| PRICE TARGET: $114.60 DETAILS
HIGH: $120.00
LOW: $109.00
MEDIAN: $115.00
CONSENSUS: $114.60
UPSIDE: 25.92%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Revenue
Revenue 8,218 7,400 6,064 6,226 5,886 5,625 4,258 4,277 3,948 3,704 3,403 3,500 3,211 3,120 3,438 3,191 3,411 3,650 2,436.6 1,657.8 879.9 540.4 589.8 787.2 857.2 832.7 634.2 450.8
Cost of Revenue 4,279 4,411 3,518 3,887 3,654 3,683 2,594 2,622 2,365 2,239 2,037 2,140 1,967 1,994 2,306 2,180 1,958 2,190 1,624.4 970.4 353.9 55.8 0 0 0 0 0 0
Gross Profit 3,939 2,989 2,546 2,339 2,232 1,942 1,664 1,655 1,583 1,465 1,366 1,360 1,244 1,126 1,132 1,011 1,453 1,460 812.2 687.4 526.0 484.6 589.8 787.2 857.2 832.7 634.2 450.8
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 140 427 417 420 395 425 388 396 360 342 326 388 359 284 289 273 729 673 407.7 402.4 303.6 354.5 402.8 496.6 600.9 45.9 0 0
Other Expenses 1,468 764 551 355 396 283 259 231 232 287 320 218 197 152 147 107 121 147 38.9 70.9 108.8 121.9 244.4 178.7 195.2 590.8 499.7 397.2
Operating Expenses 1,608 1,191 968 775 791 708 647 627 592 629 646 606 556 436 436 380 850 820 446.6 473.3 412.3 476.4 647.2 675.3 796.1 636.7 499.7 397.2
Operating Income
Operating Income 2,331 1,798 1,578 1,564 1,441 1,234 1,017 1,028 991 836 720 754 688 690 696 631 603 640 365.7 214.1 113.7 8.2 (57.3) 111.8 61.1 196.0 134.5 53.7
Interest Expense 88 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 38 28 115 7 1 4 15 17 9 8 4 6 9 10 11 9 13 35 37.6 24.6 12.7 0 0 0 0 0 0 0
Profitability
EBITDA 3,127 2,460 1,996 1,853 1,927 1,507 1,324 1,414 1,195 432 874 841 823 749 801 731 597 703 404.6 285.0 182.0 84.5 32.7 203.5 161.4 261.7 134.5 53.7
EBIT 2,494 1,847 1,673 1,595 1,649 1,305 1,134 1,204 1,007 262 736 704 701 645 692 628 493 610 365.7 214.1 113.7 8.2 (57.3) 111.8 61.1 196.0 134.5 53.7
Income Before Tax 2,145 1,449 1,401 1,475 1,534 1,212 1,019 1,064 872 133 630 594 600 548 573 526 391 513 793.9 213.1 106.3 2.6 (66.4) 105.9 78.8 214.9 0 0
Income Tax Expense 356 334 344 352 347 279 245 606 143 27 203 181 216 199 190 137 128 198 275.5 85.3 44.6 0.7 (21.2) 40.9 38.3 90.5 0 0
Net Income 1,789 1,117 1,059 1,125 1,187 933 774 458 734 108 428 414 385 352 387 395 266 319.9 518.4 127.9 61.7 11.4 (105.4) 43.1 40.5 23.3 86.1 35.0
Per Share Data
EPS (Basic) 3.13 1.94 2.10 2.28 2.38 1.89 1.56 0.92 1.47 0.22 0.85 0.82 0.77 0.70 0.73 0.65 0.43 0.55 1.49 0.41 0.16 0.03 -0.45 0.13 0.12 0.07 0.29 0.12
EPS (Diluted) 3.09 1.93 2.08 2.26 2.35 1.86 1.55 0.91 1.44 0.21 0.83 0.80 0.75 0.68 0.72 0.64 0.42 0.52 1.15 0.32 0.19 -0.01 -0.45 0.13 0.12 0.07 0.29 0.12
Shares Outstanding 570.7 575.1 508.4 492.4 497.7 493.2 494.8 495.9 499.2 495.6 501.9 506.7 500.7 504.9 528 609 615 571.1 347.9 380.1 380.1 380.1 235.3 250.2 358.1 332.9 300.5 299.6
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998
Current Assets
Cash & Cash Equivalents 814 592 453 502 393 2,745 332 545 377 403 594 374 58.2 148.9 204.3 293.7 262.3 10.6 2.8
Short-Term Investments 28 184 188 181 208 195 291 268 235 245 308 227 203.5 209.5 240.8 228.0 0 0 0
Net Receivables 943 1,022 929 677 588 566 422 384 356 429 301 338.6 107.5 119.1 177.7 194.0 180.9 0 0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 6,218 5,988 7,526 7,244 6,234 4,154 249 431 554 182 2,167 4,488 37.0 52.1 74.2 64.4 301.3 0 0
Total Current Assets 8,003 7,786 9,096 8,604 7,423 7,660 4,290 6,370 5,529 4,560 3,454 5,435.5 406.2 529.6 697.0 815.2 744.5 10.6 2.8
Non-Current Assets
Property, Plant & Equipment 1,175 968 978 976 875 856 730 376 400 362 164 182.9 173.8 242.9 361.2 378.8 326.3 0 0
Goodwill 14,371 13,957 14,112 8,099 8,433 6,850 6,366 6,363 6,586 6,027 4,800 4,492.4 0 0 0 0 0 0 0
Intangible Assets 6,511 6,905 7,443 2,581 2,813 2,255 2,249 2,300 2,468 2,094 1,631 1,582.9 182.2 0.9 16.6 0 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 260.7 0 0
Other Non-Current Assets 993 779 665 608 571 358 289 291 (1) 390 253 407 3.8 5.7 31.1 37.8 (228.3) 567.7 401.0
Total Non-Current Assets 23,050 22,609 23,198 12,264 12,692 10,319 9,634 9,330 10,257 9,590 7,268 7,259.4 408.6 321.6 478.9 511.1 419.9 0 0
Total Assets 31,053 30,395 32,294 20,868 20,115 17,979 13,924 15,700 15,786 14,150 10,722 12,694.9 814.8 851.3 1,175.9 1,326.3 1,164.4 578.3 403.7
Current Liabilities
Account Payables 280 269 332 185 185 175 148 198 177 175 0 242.4 40.2 30.0 99.8 123.1 0 0 0
Short-Term Debt 431 399 291 664 1,018 0 391 875 480 0 225 225 0 1.6 15.7 4.5 13.9 0 0
Deferred Revenue 0 711 594 357 329 235 211 194 189 162 105 86.3 59.5 59.7 64.6 65.4 0 0 0
Other Current Liabilities 7,250 5,879 7,421 7,143 6,026 4,063 3,157 4,995 4,118 3,430 2,148 4,141 16.7 146.3 27.3 9.6 151.7 0 0
Total Current Liabilities 7,961 7,902 9,025 8,835 7,872 4,924 4,227 6,570 5,262 4,082 2,867 5,061.2 208.3 237.6 295.5 293.6 282.2 0 0
Non-Current Liabilities
Long-Term Debt 9,035 9,081 10,163 4,735 4,812 5,541 2,996 2,956 3,727 3,603 1,867 2,299 265 265 429.7 288.5 25 0 0
Deferred Tax Liabilities 1,584 1,594 1,642 456 406 502 552 501 225 720 683 696 29.5 40.9 49.2 40.6 32.1 0 0
Other Non-Current Liabilities (1,006) 230 220 226 234 187 179 137 162 144 201 328.1 65.6 147.0 27.3 46.0 17.1 0 0
Total Non-Current Liabilities 10,860 11,293 12,442 5,869 5,838 6,619 4,058 3,681 4,637 4,638 2,911 3,375.2 449.9 452.9 616.1 508.9 221.5 0 0
Total Liabilities 18,821 19,195 21,467 14,704 13,710 11,543 8,285 10,251 9,899 8,720 5,778 8,436.4 658.3 690.6 911.5 802.5 503.7 0 0
Stockholders' Equity
Common Stock 6 6 6 5 2 2 2 2 2 2 2 2.0 1.3 1.3 1.3 1.3 1.2 0 0
Retained Earnings 9,588 8,401 7,825 7,207 6,465 5,628 5,027 4,558 3,970 3,479 1,610 1,350.3 330.7 332.5 446.3 412.9 372.4 0 0
Accumulated Other Comprehensive Income (1,773) (2,099) (1,924) (1,991) (1,587) (1,368) (1,686) (1,530) (862) (979) (406) (619.0) 0.5 1.9 0.7 (4.3) (1.9) 0 0
Total Stockholders' Equity 12,227 11,191 10,816 6,151 6,395 6,433 5,639 5,449 5,880 5,430 4,932 4,286 156.6 160.7 270.9 518.4 645.2 352.0 266.3
Total Liabilities & Equity 31,053 30,395 32,294 20,868 20,115 17,979 13,924 15,700 15,354 14,150 10,722 12,752 814.8 851.3 1,175.9 1,326.3 1,164.4 578.3 403.7
Debt Metrics
Total Debt 9,928 9,868 10,871 5,851 6,216 5,930 3,718 3,831 4,207 3,603 2,092 2,524 265 266.6 453.1 305.1 53.5 0 0
Net Debt 9,114 9,276 10,418 5,349 5,823 3,185 3,386 3,286 3,830 3,200 1,498 2,150 206.8 117.7 248.9 11.4 (208.8) (10.6) (2.8)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000
Operating Activities
Net Income 1,787 1,115 1,057 1,123 1,187 933 774 458 734 108 61.7 1.8 (105.4) 43.1 40.5 23.3
Depreciation & Amortization 632 613 323 258 278 202 190 210 188 170 68.3 76.9 89.9 101.1 100.3 65.6
Stock-Based Compensation 165 141 122 106 90 87 79 69 70 86 0 0 (0.1) 3.2 6.9 0
Change in Working Capital (235) 46 39 168 (469) (9) (48) 103 (103) (45) (25.5) (14.2) 51.5 (28.5) (83.1) 118.8
Other Non-Cash Items (142) 91 87 13 (97) (2) (67) (154) 2 466 12.9 16.6 67.3 24.7 23.6 114.9
Operating Cash Flow 2,255 1,939 1,696 1,706 1,083 1,252 963 1,028 909 722 120.9 117.0 105.3 157.1 65.0 255.6
Investing Activities
Capital Expenditure (266) (207) (158) (152) (163) (188) (127) (111) (144) (134) (25.4) (26.0) (31.6) (85.4) (122.6) (195.9)
Acquisitions 0 0 (5,766) (41) (2,240) (157) (74) 185 (776) (1,460) (970.5) (190) 0.1 8.4 5.0 (17.0)
Purchases of Investments (243) (206) (712) (322) (316) (283) (579) (421) (392) (468) (623.7) (264.3) (197.6) (212.6) (391.9) (248.2)
Sales/Maturities of Investments 427 199 719 320 285 424 554 543 424 411 648.1 267.7 231.3 209.2 395.0 165.7
Other Investing Activities (1,018) (739) (77) 244 (219) (27) (14) 0 (2) (6) 18.0 11.3 (2.5) (22.1) 5.2 3.1
Investing Cash Flow (1,100) (953) (5,994) 49 (2,653) (231) (240) 196 (890) (1,657) (953.4) (201.3) (0.2) (102.5) (109.2) (292.2)
Financing Activities
Net Debt Issuance (826) (812) 4,977 (318) 442 1,948 (419) (320) 420 1,300 930 0 (150) 150 251.6 0
Stock Repurchased (616) (145) (269) (633) (943) (222) (200) (394) (203) (100) (38.6) (0.1) (0.1) (305.2) (240) 0
Dividends Paid (601) (541) (441) (383) (350) (320) (305) (280) (243) (200) (3.2) (8.4) (8.3) 0 0 0
Other Financing Activities (841) (1,063) 25 2,448 2,330 17 (50) (50) (27) 13 (1.6) (0.3) (0.1) 8.8 (13.7) 288.3
Financing Cash Flow (2,953) (2,561) 4,220 1,036 1,418 1,383 (937) (1,027) (53) 1,002 939.5 (6.5) (157.6) (144.1) 75.6 288.3
Cash Position
Net Change in Cash (1,072) (2,112) 124 1,498 (483) 2,420 (224) 187 (19) 61 107.1 (90.7) (52.5) (89.5) 31.5 251.7
Cash at Beginning 5,006 7,118 6,994 5,496 5,979 362 586 399 418 357 58.2 148.9 201.5 293.7 262.3 10.6
Cash at End 3,934 5,006 7,118 6,994 5,496 2,782 362 586 399 418 165.2 58.2 148.9 204.3 293.7 262.3
Free Cash Flow 1,989 1,732 1,538 1,554 920 1,064 836 917 765 588 95.5 91.0 73.7 71.7 (57.5) 59.7
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Income Statement
Revenue 8,218 7,400 6,064 6,226 5,886 5,625 4,258 4,277 3,948 3,704 3,403 3,500 3,211 3,120 3,438 3,191 3,411 3,650 2,436.6 1,657.8 879.9 540.4 589.8 787.2 857.2 832.7 634.2 450.8
Gross Profit 3,939 2,989 2,546 2,339 2,232 1,942 1,664 1,655 1,583 1,465 1,366 1,360 1,244 1,126 1,132 1,011 1,453 1,460 812.2 687.4 526.0 484.6 589.8 787.2 857.2 832.7 634.2 450.8
Operating Income 2,331 1,798 1,578 1,564 1,441 1,234 1,017 1,028 991 836 720 754 688 690 696 631 603 640 365.7 214.1 113.7 8.2 (57.3) 111.8 61.1 196.0 134.5 53.7
Net Income 1,789 1,117 1,059 1,125 1,187 933 774 458 734 108 428 414 385 352 387 395 266 319.9 518.4 127.9 61.7 11.4 (105.4) 43.1 40.5 23.3 86.1 35.0
EPS (Diluted) 3.09 1.93 2.08 2.26 2.35 1.86 1.55 0.91 1.44 0.21 0.83 0.80 0.75 0.68 0.72 0.64 0.42 0.52 1.15 0.32 0.19 -0.01 -0.45 0.13 0.12 0.07 0.29 0.12
Balance Sheet
Cash & Equivalents 814 592 453 502 393 2,745 332 545 377 403 594 374 58.2 148.9 204.3 293.7 262.3 10.6 2.8
Total Assets 31,053 30,395 32,294 20,868 20,115 17,979 13,924 15,700 15,786 14,150 10,722 12,694.9 814.8 851.3 1,175.9 1,326.3 1,164.4 578.3 403.7
Total Debt 9,928 9,868 10,871 5,851 6,216 5,930 3,718 3,831 4,207 3,603 2,092 2,524 265 266.6 453.1 305.1 53.5 0 0
Stockholders' Equity 12,227 11,191 10,816 6,151 6,395 6,433 5,639 5,449 5,880 5,430 4,932 4,286 156.6 160.7 270.9 518.4 645.2 352.0 266.3
Cash Flow
Operating Cash Flow 2,255 1,939 1,696 1,706 1,083 1,252 963 1,028 909 722 120.9 117.0 105.3 157.1 65.0 255.6
Capital Expenditure (266) (207) (158) (152) (163) (188) (127) (111) (144) (134) (25.4) (26.0) (31.6) (85.4) (122.6) (195.9)
Free Cash Flow 1,989 1,732 1,538 1,554 920 1,064 836 917 765 588 95.5 91.0 73.7 71.7 (57.5) 59.7