Inside the research

Nasdaq, Inc.

NDAQ Research profile · latest available data

Price overview

$93.55

▼ -1.00 (-1.1%)

52w hi$99.96
52w lo$76.59
Vol2.25M
As of25 Sep 2026

The Verdict

Hold

Our score +0.20

Short+0.22
Medium+0.21
Long+0.13

computed 2026-09-27

Key fundamentals

Nasdaq, Inc.

Financial Services · Financial Data & Stock Exchanges

Market cap$52.29B
Enterprise value$61.06B
Trailing P/E27.27x
Forward P/E19.99x
EV / EBITDA18.21x
P / S (ttm)9.31x
Profit margin35.0%
Return on equity16.5%
Revenue growth+14.9%
Earnings growth+14.1%
Debt / equity77.69

Layer Breakdown

LayerRawContribution
Fundamental+0.24
Sector+0.02
Technical+0.15
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-09-27

Business overview

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. The company distributes historical and real-time market data; develops and licenses Nasdaq-branded indices and financial products; provides investor relations intelligence, governance solutions, and sustainability solution products for public and private companies, and organizations, as well as insights and workflow solutions; and operates listing platforms. It also offers Verafin, a cloud-based platform to detect, investigate, and report money laundering and financial frauds; AxiomSL, a risk data management and regulatory reporting solution; cloud-enabled and on-premises surveillance solutions to assist in complying with market rules, regulations, and internal market surveillance policies; Calypso, a platform providing cross-asset, front-to-back trading, treasury, risk, and collateral management solutions; and trade management and colocation services, as well as handles assets comprising cash equities, equity derivatives, currencies, various interest-bearing securities, commodities, energy products, and digital currencies. In addition, the company provides equity derivative trading and clearing, cash equity trading and fixed income, currency and commodities trading, and fixed income trading and clearing services, as well as tape plan data services; operates various exchanges, including derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and offers clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.

United States · www.nasdaq.com

Risk Metrics

Beta vs SPX0.84
Corr SPX0.53
Annual vol25.5%
Annual ret+14.8%
Sharpe0.58
Max DD-23.9%

Window: 504 trading days (504 obs)

Analyst Coverage

Mean PT$107.00
High / Low$120.00 / $82.00
Median$109.00
Analysts15
Strong Buy6
Buy8
Hold3
Sell0
Strong Sell0

Recent rating actions

2026-04-24Keefe, Bruyette & Woods→ Market Perform
2026-04-13Barclays→ Overweight
2026-04-08Barclays→ Overweight
2026-02-26TD Cowen→ Buy
2026-01-30TD Cowen→ Hold
2026-01-30RBC Capital→ Outperform

Officers & Board

CEOAdena Friedman current

Material Events

DateEvent8-K
2026-07-23Earnings Release, Reg FD Disclosure…read
2026-07-01Material Agreement, Termination of Agreement…read
2026-06-16Shareholder Voteread
2026-04-23Earnings Release, Reg FD Disclosure…read
2026-01-29Earnings Release, Reg FD Disclosure…read
2026-01-16Bylaws Amendment, Exhibitsread
2025-12-15Other Material Event, Exhibitsread
2025-12-01Other Material Event, Exhibitsread
2025-10-21Earnings Release, Reg FD Disclosure…read
2025-07-24Earnings Release, Reg FD Disclosure…read
2025-06-16Shareholder Voteread
2025-04-24Earnings Release, Reg FD Disclosure…read

Flow & Concentration

Insider 180d net$0
Insider buys / sells0 / 0
Insider biasNeutral
13F holders8
Top-5 share98.4%
HHI3,555 (concentrated)

Top Holders

HolderValueShares
State Street Corp$1.59B20.18M
Capital Research / Capital World$621.40M7.88M
Fidelity / FMR LLC$362.04M4.59M
AQR Capital Management$172.48M2.21M
Citadel Advisors$161.37M2.05M
Millennium Management$40.62M515.39K
Bridgewater Associates$6.36M80.75K
T. Rowe Price Group$61.40K778.98K

As of 2026-06-30

Dividends

Yield (TTM)0.58%
$ / share (TTM)$0.54
5y CAGR+10.2%

Annual dividend per share

2021$0.70
2022$0.78
2023$0.86
2024$0.94
2025$1.05
2026$0.27

SEC Filings

DateFormDoc
2026-08-124view
2026-08-124view
2026-08-114view
2026-08-054view
2026-07-314view
2026-07-284view
2026-07-284view
2026-07-238-Kview
2026-07-2310-Qview
2026-07-024view
2026-07-018-Kview
2026-06-168-Kview
2026-06-154view
2026-06-154view
2026-06-124view

The Long Run

FY 2010–2025 · 16 years

LineLatestCAGRTrend
Revenue$8.26B+6.5%
Gross profit$5.25B+8.9%
Operating income$2.33B+9.1%
Net income$1.79B+10.6%
Cash from ops$2.25B+23.8%

Indices

S&P 500

Recent Sessions

DateOpenHighLowCloseVol
Sep 25$94.61$95.17$92.02$93.552.25M
Sep 24$95.60$95.78$94.36$94.553.19M
Sep 23$94.50$96.76$94.09$95.443.33M
Sep 22$94.95$95.24$93.47$94.503.94M
Sep 21$94.45$94.89$93.48$94.692.95M

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