NDAQ Stock Analysis: Nasdaq | NASDAQ
Financial Data & Stock Exchanges | NASDAQ, USA | Market Cap: 57.742m USD | 12M Return: 17% | US6311031081 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 281M
EPS Trend: 95.1%
Qual. Beats: 0
Rev. Trend: 97.2%
Qual. Beats: 2
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Nasdaq, Inc. (NDAQ) is a U.S.-headquartered technology company serving capital markets and other industries globally. It operates through three segments: Capital Access Platforms, Financial Technology, and Market Services. The company distributes historical and real-time market data, develops and licenses Nasdaq-branded indices and financial products, and provides investor relations, governance, and sustainability solutions. It also operates listing platforms and offers a range of financial technology products, including Verafin (anti-money laundering), AxiomSL (regulatory reporting), Calypso (cross-asset trading and risk management), and market surveillance solutions.
In addition, Nasdaq runs exchanges and trading venues for cash equities, equity derivatives, fixed income, currencies, commodities, and digital currencies, and provides clearing, settlement, and central depository services. Founded in 1971 and headquartered in New York, the company was formerly known as The NASDAQ OMX Group, Inc. before adopting its current name in September 2015.
As a major player in the Financial Exchanges & Data sub-industry, Nasdaq operates one of the worlds largest stock exchanges by listed company volume and has increasingly expanded beyond exchange operations into regulatory technology and financial software, reflecting a broader industry trend of exchange operators diversifying into data and SaaS-based revenue streams.
- IPO market reopening drives Capital Access Platforms segment recovery
- Verafin acquisition fuels recurring Financial Technology revenue growth
- Index licensing fees expand as passive ETF assets scale higher
| Net Income: 2.08b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 1.40 > 1.0 |
| NWC/Revenue: 0.16% < 20% (prev -1.32%; Δ 1.49% < -1%) |
| CFO/TA 0.09 > 3% & CFO 2.55b > Net Income 2.08b |
| Net Debt (9.15b) to EBITDA (3.37b): 2.71 < 3 |
| Current Ratio: 1.00 > 1.5 & < 3 |
| Outstanding Shares: last quarter (563.3m) vs 12m ago -2.71% < -2% |
| Gross Margin: 63.21% > 18% (prev 41.11%; Δ 22.10% > 0.5%) |
| Asset Turnover: 31.50% > 50% (prev 26.65%; Δ 4.86% > 0%) |
| Interest Coverage Ratio: 7.83 > 6 (EBIT TTM 2.72b / Interest Expense TTM 347.0m) |
| A: 0.00 (Total Current Assets 4.53b - Total Current Liabilities 4.52b) / Total Assets 27.4b |
| B: 0.39 (Retained Earnings 10.7b / Total Assets 27.4b) |
| C: 0.09 (EBIT TTM 2.72b / Avg Total Assets 29.0b) |
| D: 0.78 (Book Value of Equity 12.0b / Total Liabilities 15.4b) |
| Altman-Z'' = 2.72 = A |
| DSRI: 1.21 (Receivables 1.17b/865.0m, Revenue 9.14b/8.17b) |
| GMI: 0.65 (GM 41.11% / 63.21%) |
| AQI: 1.10 (AQ_t 0.79 / AQ_t-1 0.72) |
| SGI: 1.12 (Revenue 9.14b / 8.17b) |
| TATA: -0.02 (NI 2.08b - CFO 2.55b) / TA 27.4b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of October 24, 2026, the stock is trading at USD 102.56 with a total of 4,204,493 shares traded. Over the past week, the price has changed by +9.14%, over one month by +7.46%, over three months by +13.81% and over the past year by +16.99%.
Current recommended Stop Loss: 99.30 (which is 3.2% or 1.4 ATR below the current price).
Nasdaq has received a consensus analysts rating of 4.17. Therefore, it is recommended to buy NDAQ.
- StrongBuy: 8
- Buy: 6
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 108.8 | 6% |
P/E Trailing = 27.9946
P/E Forward = 23.6407
P/S = 10.2854
P/B = 4.4502
P/EG = 1.7643
Revenue TTM = 9.14b USD
EBIT TTM = 2.72b USD
EBITDA TTM = 3.37b USD
Long Term Debt = 8.57b USD (from longTermDebt, last fiscal year)
Short Term Debt = 269.0m USD (from shortTermDebt, last quarter)
Debt = 9.70b USD (from shortLongTermDebtTotal, last quarter) + Leases 482.0m
Net Debt = 9.15b USD (calculated: Debt 9.70b - CCE 544.0m)
Enterprise Value = 66.9b USD (57.7b + Debt 9.70b - CCE 544.0m)
Interest Coverage Ratio = 7.83 (Ebit TTM 2.72b / Interest Expense TTM 347.0m)
EV/FCF = 29.63x (Enterprise Value 66.9b / FCF TTM 2.26b)
FCF Yield = 3.38% (FCF TTM 2.26b / Enterprise Value 66.9b)
FCF Margin = 24.70% (FCF TTM 2.26b / Revenue TTM 9.14b)
Net Margin = 22.81% (Net Income TTM 2.08b / Revenue TTM 9.14b)
Gross Margin = 63.21% ((Revenue TTM 9.14b - Cost of Revenue TTM 3.36b) / Revenue TTM)
Gross Margin QoQ = 61.89% (prev 59.20%)
Tobins Q-Ratio = 2.44 (Enterprise Value 66.9b / Total Assets 27.4b)
Interest Expense / Debt = 3.58% (Interest Expense 347.0m / Debt 9.70b)
Taxrate = 20.18% (527.0m / 2.61b)
NOPAT = 2.17b (EBIT 2.72b * (1 - 20.18%))
Current Ratio = 1.00 (Total Current Assets 4.53b / Total Current Liabilities 4.52b)
Debt / Equity = 0.81 (Debt 9.70b / totalStockholderEquity, last quarter 12.0b)
Debt / EBITDA = 2.71 (Net Debt 9.15b / EBITDA 3.37b)
Debt / FCF = 4.05 (Net Debt 9.15b / FCF TTM 2.26b)
Total Stockholder Equity = 12.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.19% (Net Income 2.08b / Total Assets 27.4b)
RoE = 17.29% (Net Income TTM 2.08b / Total Stockholder Equity 12.1b)
RoCE = 13.16% (EBIT 2.72b / Capital Employed (Equity 12.1b + L.T.Debt 8.57b))
RoIC = 9.56% (NOPAT 2.17b / Invested Capital 22.7b)
WACC = 7.05% (E(57.7b)/V(67.4b) * Re(7.75%) + D(9.70b)/V(67.4b) * Rd(3.58%) * (1-Tc(0.20)))
Discount Rate = 7.75% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -84.18 | Cagr: -1.21%
[DCF] Terminal Value 76.39% ; FCFF base≈2.19b ; Y1≈2.34b ; Y5≈2.80b
[DCF] Fair Price = 60.68 (EV 43.1b - Net Debt 9.15b = Equity 33.9b / Shares 559.0m; r=8.35% [WACC [floored]]; 5y FCF grow 7.63% → 2.50% )
EPS Correlation: 95.14 | EPS CAGR: 15.83% | SUE: 0.83 | # QB: 0
Revenue Correlation: 97.16 | Revenue CAGR: 15.50% | SUE: 0.98 | # QB: 2
EPS current Quarter (2027-03-31): EPS=1.11 | Chg30d=+0.67% | Revisions=-12% | Analysts=10
EPS current Year (2026-12-31): EPS=4.12 | Chg30d=-0.41% | Revisions=-25% | GrowthEPS=+18.3% | GrowthRev=+12.4%
EPS next Year (2027-12-31): EPS=4.68 | Chg30d=+0.04% | Revisions=+0% | GrowthEPS=+13.7% | GrowthRev=+8.4%
[Analyst] Revisions Ratio: -15% (up=10, down=14)