NDAQ Stock Analysis: Nasdaq | NASDAQ
Financial Data & Stock Exchanges | NASDAQ, USA | Market Cap: 51.136m USD | 12M Return: -0.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 387M
EPS Trend: 92.5%
Qual. Beats: 5
Rev. Trend: 97.3%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 10.5 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. is a U.S.-headquartered technology company that serves capital markets and other industries globally through three operating segments: Capital Access Platforms, Market Services, and Financial Technology. As one of the largest operators of equity exchanges in the United States, the company runs listing platforms and trading venues for cash equities, equity derivatives, fixed income, currencies, commodities, and exchange-traded products, alongside clearing, settlement, and central depository services.
Beyond its exchange operations, Nasdaq generates revenue from market data distribution, the licensing of Nasdaq-branded indices, and investor relations and governance software for public and private companies. Its Financial Technology segment offers software platforms addressing financial crime detection (Verafin), regulatory reporting (AxiomSL), market surveillance, and cross-asset trading and risk management (Calypso), reflecting the broader industry trend of exchanges expanding into subscription-based data and FinTech services to diversify away from transaction-based revenue.
The company was founded in 1971, is headquartered in New York, New York, and was renamed from The NASDAQ OMX Group, Inc. to Nasdaq, Inc. in September 2015. It is classified within the GICS Financials sector under the Financial Exchanges & Data sub-industry.
- Nasdaq trading volumes surge on equity market volatility
- Verafin AML platform drives Financial Technology subscription growth
- Index licensing revenue scales with QQQ and thematic ETF assets
| Net Income: 1.97b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 0.11 > 1.0 |
| NWC/Revenue: 0.32% < 20% (prev -3.76%; Δ 4.08% < -1%) |
| CFO/TA 0.08 > 3% & CFO 2.25b > Net Income 1.97b |
| Net Debt (9.19b) to EBITDA (3.19b): 2.88 < 3 |
| Current Ratio: 1.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (567.8m) vs 12m ago -1.93% < -2% |
| Gross Margin: 59.35% > 18% (prev 39.72%; Δ 19.64% > 0.5%) |
| Asset Turnover: 30.17% > 50% (prev 26.70%; Δ 3.47% > 0%) |
| Interest Coverage Ratio: 7.37 > 6 (EBIT TTM 2.54b / Interest Expense TTM 345.0m) |
| A: 0.00 (Total Current Assets 4.53b - Total Current Liabilities 4.50b) / Total Assets 27.3b |
| B: 0.38 (Retained Earnings 10.3b / Total Assets 27.3b) |
| C: 0.09 (EBIT TTM 2.54b / Avg Total Assets 28.9b) |
| D: 0.78 (Book Value of Equity 12.0b / Total Liabilities 15.3b) |
| Altman-Z'' = 2.65 = A |
| DSRI: 1.23 (Receivables 1.18b/896.0m, Revenue 8.71b/8.11b) |
| GMI: 0.67 (GM 39.72% / 59.35%) |
| AQI: 1.09 (AQ_t 0.79 / AQ_t-1 0.72) |
| SGI: 1.07 (Revenue 8.71b / 8.11b) |
| TATA: -0.01 (NI 1.97b - CFO 2.25b) / TA 27.3b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of July 26, 2026, the stock is trading at USD 92.09 with a total of 3,954,136 shares traded. Over the past week, the price has changed by +0.49%, over one month by +12.84%, over three months by +2.80% and over the past year by -0.26%.
Current recommended Stop Loss: 86.60 (which is 6% or 2 ATR below the current price).
Nasdaq has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy NDAQ.
- StrongBuy: 8
- Buy: 6
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 106.8 | 16% |
P/E Trailing = 27.4
P/E Forward = 24.3902
P/S = 9.4365
P/B = 4.2722
P/EG = 2.1377
Revenue TTM = 8.71b USD
EBIT TTM = 2.54b USD
EBITDA TTM = 3.19b USD
Long Term Debt = 8.57b USD (from longTermDebt, last fiscal year)
Short Term Debt = 269.0m USD (from shortTermDebt, last quarter)
Debt = 9.73b USD (from shortLongTermDebtTotal, last quarter) + Leases 488.0m
Net Debt = 9.19b USD (calculated: Debt 9.73b - CCE 546.0m)
Enterprise Value = 60.3b USD (51.1b + Debt 9.73b - CCE 546.0m)
Interest Coverage Ratio = 7.37 (Ebit TTM 2.54b / Interest Expense TTM 345.0m)
EV/FCF = 30.92x (Enterprise Value 60.3b / FCF TTM 1.95b)
FCF Yield = 3.23% (FCF TTM 1.95b / Enterprise Value 60.3b)
FCF Margin = 22.41% (FCF TTM 1.95b / Revenue TTM 8.71b)
Net Margin = 22.60% (Net Income TTM 1.97b / Revenue TTM 8.71b)
Gross Margin = 59.35% ((Revenue TTM 8.71b - Cost of Revenue TTM 3.54b) / Revenue TTM)
Gross Margin QoQ = 59.20% (prev 65.84%)
Tobins Q-Ratio = 2.21 (Enterprise Value 60.3b / Total Assets 27.3b)
Interest Expense / Debt = 3.55% (Interest Expense 345.0m / Debt 9.73b)
Taxrate = 19.31% (471.0m / 2.44b)
NOPAT = 2.05b (EBIT 2.54b * (1 - 19.31%))
Current Ratio = 1.01 (Total Current Assets 4.53b / Total Current Liabilities 4.50b)
Debt / Equity = 0.81 (Debt 9.73b / totalStockholderEquity, last quarter 12.0b)
Debt / EBITDA = 2.88 (Net Debt 9.19b / EBITDA 3.19b)
Debt / FCF = 4.71 (Net Debt 9.19b / FCF TTM 1.95b)
Total Stockholder Equity = 12.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.82% (Net Income 1.97b / Total Assets 27.3b)
RoE = 16.31% (Net Income TTM 1.97b / Total Stockholder Equity 12.1b)
RoCE = 12.32% (EBIT 2.54b / Capital Employed (Equity 12.1b + L.T.Debt 8.57b))
RoIC = 9.05% (NOPAT 2.05b / Invested Capital 22.7b)
WACC = 7.42% (E(51.1b)/V(60.9b) * Re(8.29%) + D(9.73b)/V(60.9b) * Rd(3.55%) * (1-Tc(0.19)))
Discount Rate = 8.29% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -75.82 | Cagr: -0.86%
[DCF] Terminal Value 74.19% ; FCFF base≈2.02b ; Y1≈1.89b ; Y5≈1.72b
[DCF] Fair Price = 31.88 (EV 27.2b - Net Debt 9.19b = Equity 18.0b / Shares 565.5m; r=8.35% [WACC [floored]]; 5y FCF grow -8.58% → 2.50% )
EPS Correlation: 92.50 | EPS CAGR: 13.33% | SUE: 4.0 | # QB: 5
Revenue Correlation: 97.27 | Revenue CAGR: 15.71% | SUE: 1.09 | # QB: 1
EPS current Quarter (2026-09-30): EPS=1.00 | Chg30d=+2.03% | Revisions=+25% | Analysts=13
EPS current Year (2026-12-31): EPS=4.01 | Chg30d=+1.78% | Revisions=+40% | GrowthEPS=+15.3% | GrowthRev=+10.7%
EPS next Year (2027-12-31): EPS=4.54 | Chg30d=+2.39% | Revisions=+40% | GrowthEPS=+13.2% | GrowthRev=+8.2%
[Analyst] Revisions Ratio: +44% (up=10, down=3)