Nasdaq, Inc.

Financials Financial Exchanges & Data New York City, New York Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.3B
                    3y CAGR +9.9%
                    
                    P36
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.8B
                    Net margin +21.6%
                    
                    P33
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$31.1B
                    ROA +5.8%
                    
                    P77
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$2.3B
                    FCF margin +24.1%
                    
                    P32
                    
                    n/a

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 1 year

Total assets $31.1B

Total liabilities $18.8B

Shareholders equity $12.2B

Account	2025	Trend
Assets
Cash and Cash Equivalents	—
Short Term Investments	—
Accounts Receivable	—
Other Current Assets	—
Total Current Assets	—
Property,Plant and Equipment	—
Operating Lease Assets	—
Goodwill	—
Intangible Assets	—
Other Noncurrent Assets	—
Total Assets	—
Liabilities
Accounts Payable	—
Accrued Liabilities	—
Deferred Revenue	—
Current Portion of Long Term Debt	—
Other Current Liabilities	—
Total Current Liabilities	—
Long Term Debt	—
Operating Lease Liabilities Noncurrent	—
Deferred Tax Liabilities	—
Other Noncurrent Liabilities	—
Total Liabilities	—
Equity
Common Stock	—
Additional Paid In Capital	—
Retained Earnings	—
Treasury Stock	—
Accumulated Other Comprehensive Income	—
Total Stockholders Equity	—
Noncontrolling Interest	—
Total Liabilitiesand Equity	—

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $8.3B

Operating income $2.3B

Net income $1.8B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	—
Expenses Cost of Revenue	—
Other Income Expense Gross Profit	—
Expenses Selling,General and Administrative	—
Expenses Depreciation and Amortization	—
Expenses Restructuring and Asset Impairment	—
Expenses Other Operating Expenses	—
Expenses Operating Expenses	—
Other Income Expense Operating Income	—
Other Income Expense Interest Income	—
Other Income Expense Interest Expense	—
Other Income Expense Other Income/expense	—
Other Income Expense Income Before Tax	—
Income Tax Income Tax Expense	—
net Income Other Items Below Tax	—
net Income net Income	—
net Income Comprehensive Income	—
Earnings Per Share Basic Eps	—
Earnings Per Share Diluted Eps	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 1 year

Operating cash flow $2.3B

Investing cash flow $-1.1B

Financing cash flow $-3.0B

Account	2025	Trend
CashFlow
Operating Activities net Income	—
Operating Activities Depreciation and Amortization	—
Operating Activities Stock Based Compensation	—
Operating Activities Deferred Income Taxes	—
Operating Activities Changes In Operating Assets and Liabilities	—
Operating Activities Other Non Cash Items	—
Operating Activities net Cash From Operating Activities	—
Investing Activities Capital Expenditures	—
Investing Activities Business Acquisitions	—
Investing Activities Purchases of Investments	—
Investing Activities Proceeds From Sale of Investments	—
Investing Activities Other Investing Activities	—
Investing Activities net Cash From Investing Activities	—
Financing Activities Proceeds From Debt	—
Financing Activities Repayment of Debt	—
Financing Activities Repurchase of Common Stock	—
Financing Activities Dividends Paid	—
Financing Activities Tax Withholding On Stock Based Compensation	—
Financing Activities Other Financing Activities	—
Financing Activities net Cash From Financing Activities	—
Cash Reconciliation Effect of Exchange Rate On Cash	—
Cash Reconciliation net Change In Cash	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+63.5%
Operating margin	+28.2%
Net margin	+21.6%
FCF margin	+24.1%
Growth
Revenue CAGR (3y)	+9.9%
Returns
ROE	+14.6%
ROA	+5.8%
ROIC	+9.5%
Liquidity
Current ratio	1.01x
Quick ratio	0.22x
Leverage
D/E	1.54x
Interest coverage	6.35x
Efficiency
Asset turnover	0.27x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Nasdaq, Inc.

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Margins, returns, liquidity, leverage, efficiency

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