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Nasdaq Inc (NDAQ) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Financial Exchanges & Data · DATA UPDATED 2026-07-14

Nasdaq Inc (NDAQ) operates in the Financial Exchanges & Data industry and is headquartered in New York, United States with about 9,630 employees. Its market capitalization is roughly $51 billion. In the fiscal year ended 2025-12-31, NDAQ reported $8.2B in revenue and $1.8B in net income.

Nasdaq, Inc. operates as a technology company that serves capital markets and other industries in the United States and internationally. It operates through three segments: Capital Access Platforms, Financial Technology, and Market Services.

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NDAQ Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$8.3B	$8.2B	$7.4B	$6.1B	$6.2B	$5.9B	$5.6B	$4.3B	$4.3B	$3.9B	$3.7B	$3.4B	$3.5B	$3.2B	$3.1B	$3.4B	$3.2B	$3.4B	$3.6B	$2.4B	$1.7B
Gross Profit	$4.5B	$3.9B	$3.0B	$2.5B	$2.3B	$2.2B	$1.9B	$1.7B	$1.7B	$1.6B	$1.5B	$1.4B	$1.4B	$1.2B	$1.1B	$1.1B	$1.0B	$1.5B	$1.5B	$812M	$687M
Gross Margin %	54.8%	47.9%	40.4%	42.0%	37.6%	37.9%	34.5%	39.1%	38.7%	40.1%	39.6%	40.1%	38.9%	38.7%	36.1%	32.9%	31.7%	42.6%	40.0%	33.3%	41.5%
Operating Income (EBIT)	$2.4B	$2.3B	$1.8B	$1.6B	$1.6B	$1.4B	$1.2B	$1.0B	$1.0B	$991M	$836M	$720M	$754M	$688M	$690M	$696M	$631M	$603M	$640M	$366M	$214M
Operating Margin %	29.5%	28.4%	24.3%	26.0%	25.1%	24.5%	21.9%	23.9%	24.0%	25.1%	22.6%	21.2%	21.5%	21.4%	22.1%	20.2%	19.8%	17.7%	17.5%	15.0%	12.9%
Net Income	$1.9B	$1.8B	$1.1B	$1.1B	$1.1B	$1.2B	$933M	$774M	$458M	$734M	$108M	$428M	$414M	$385M	$352M	$387M	$395M	$266M	$320M	$518M	$128M
Net Margin %	23.2%	21.8%	15.1%	17.5%	18.1%	20.2%	16.6%	18.2%	10.7%	18.6%	2.9%	12.6%	11.8%	12.0%	11.3%	11.3%	12.4%	7.8%	8.8%	21.3%	7.7%
EBITDA	$3.1B	$3.1B	$2.5B	$2.0B	$1.9B	$1.9B	$1.5B	$1.3B	$1.4B	$1.2B	$432M	$874M	$841M	$823M	$749M	$801M	$731M	$597M	$703M	$405M	$285M
Earnings Per Share (EPS)	$3.32	$3.10	$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	$0.41	$0.52	$1.15	$0.33
Shares Outstanding (M)	572M	576M	579M	508M	498M	505M	501M	501M	503M	509M	506M	514M	519M	514M	518M	540M	621M	645M	614M	449M	383M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NDAQ Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$2.1B	$2.1B	$2.0B	$2.1B	$2.1B	$2.0B	$1.9B	$1.8B
Gross Profit	$1.4B	$1.4B	$870M	$861M	$816M	$811M	$734M	$744M
Gross Margin %	65.8%	66.9%	44.4%	41.2%	39.0%	40.0%	38.6%	41.5%
Operating Income (EBIT)	$657M	$630M	$586M	$568M	$547M	$517M	$448M	$423M
Operating Margin %	30.7%	30.3%	29.9%	27.2%	26.2%	25.5%	23.5%	23.6%
Net Income	$519M	$519M	$423M	$452M	$395M	$355M	$306M	$222M
Net Margin %	24.3%	24.9%	21.6%	21.6%	18.9%	17.5%	16.1%	12.4%
EBITDA	$721M	$822M	$771M	$798M	$736M	$689M	$607M	$593M
Earnings Per Share (EPS)	$0.91	$0.90	$0.73	$0.78	$0.68	$0.61	$0.53	$0.38
Shares Outstanding (M)	572M	576M	579M	579M	579M	579M	579M	579M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NDAQ Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.3B	$2.3B	$1.9B	$1.7B	$1.7B	$1.1B	$1.3B	$963M	$1.0B	$909M	$722M	$685M	$687M	$574M	$594M	$669M	$440M	$582M	$408M	$173M	$201M
Capital Expenditures (CapEx)	$277M	$266M	$207M	$158M	$152M	$163M	$188M	$127M	$111M	$144M	$134M	$133M	$140M	$115M	$87M	$88M	$42M	$59M	$55M	$18M	$21M
Free Cash Flow (FCF)	$2.0B	$2.0B	$1.7B	$1.5B	$1.6B	$920M	$1.1B	$836M	$917M	$765M	$588M	$552M	$547M	$459M	$507M	$581M	$398M	$523M	$353M	$155M	$180M
FCF Margin %	24.2%	24.2%	23.4%	25.4%	25.0%	15.6%	18.9%	19.6%	21.4%	19.4%	15.9%	16.2%	15.6%	14.3%	16.2%	16.9%	12.5%	15.3%	9.7%	6.3%	10.9%
Dividends Paid	$616M	$601M	$541M	$441M	$383M	$350M	$320M	$305M	$280M	$243M	$200M	$149M	$98M	$87M	$65M	$700M	$2.4B	—	—	—	$105M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NDAQ Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$689M	$625M	$221M	$746M	$663M	$705M	$244M	$460M
Capital Expenditures (CapEx)	$60M	$89M	$69M	$59M	$49M	$60M	$56M	$52M
Free Cash Flow (FCF)	$629M	$536M	$152M	$687M	$614M	$645M	$188M	$408M
FCF Margin %	29.4%	25.8%	7.8%	32.9%	29.4%	31.8%	9.9%	22.8%
Dividends Paid	$153M	$153M	$155M	$155M	$138M	$138M	$138M	$138M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NDAQ Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$27.3B	$31.1B	$30.4B	$32.3B	$20.9B	$20.1B	$18.0B	$13.9B	$15.7B	$15.8B	$14.2B	$11.9B	$12.1B	$12.6B	$9.1B	$14.1B	$16.2B	$10.7B	$12.7B	$3.0B	$3.7B
Cash & Cash Equivalents	$564M	$814M	$592M	$453M	$502M	$393M	$2.7B	$332M	$545M	$377M	$403M	$301M	$427M	$398M	$497M	$506M	$315M	$594M	$374M	$1.3B	$322M
Total Liabilities	$15.3B	$18.8B	$19.2B	$21.5B	$14.7B	$13.7B	$11.5B	$8.3B	$10.3B	$9.9B	$8.7B	$6.3B	$6.3B	$6.4B	$3.9B	$9.1B	$11.5B	$5.8B	$8.4B	$771M	$2.3B
Total Debt (Short + Long-Term)	$9.0B	$9.0B	$9.5B	$10.5B	$5.4B	$5.8B	$6.0B	$3.4B	$3.8B	$4.2B	$3.9B	$2.7B	$2.6B	$2.6B	$2.0B	$2.1B	$2.3B	$2.1B	$2.5B	$216M	$1.5B
Total Shareholders' Equity	$12.0B	$12.2B	$11.2B	$10.8B	$6.2B	$6.4B	$6.4B	$5.6B	$5.4B	$5.9B	$5.4B	$5.6B	$5.8B	$6.2B	$5.2B	$5.0B	$4.7B	$4.9B	$4.3B	$2.2B	$1.5B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NDAQ viewer.

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