Nasdaq, Inc. (NDAQ): financials, SEC filings and peers

Nasdaq, Inc. (NDAQ) is a financial exchanges & data company in the Financials sector of the S&P 500, headquartered in New York City, New York.

It was founded in 1971 and joined the S&P 500 on October 22, 2008.

Its fiscal year ends in December, and its shares trade on the Nasdaq.

In its SEC filings it is classified as “Security & Commodity Brokers, Dealers, Exchanges & Services”.

Nasdaq, Inc. at a glance

Revenue (12 months): $8.8B
Revenue growth: +7.7%
Operating margin: 29.5%
Net income (12 months): $2.0B
Free cash flow (12 months): $2.0B
Cash: $520M
Debt: $8.8B
Diluted EPS (12 months): $3.43

Twelve months to June 30, 2026, from the 10-Q filed July 23, 2026.

Latest twelve months

Over the twelve months to June 30, 2026, Nasdaq, Inc. reported revenue of $8.8 billion, about the same as a year earlier (+7.7%).

Its operating margin was 29.5%, up 3.9 percentage points from a year earlier: for every $100 of sales, about $30 was left as operating profit.

Net income was $2.0 billion (22.5% of revenue), 30.4% higher than a year earlier.

Operating cash flow was $2.2 billion and capital spending $295 million, leaving free cash flow of $2.0 billion (22.3% of revenue).

At the end of the period it held $520 million in cash and $8.8 billion in debt, a net debt position of $8.2 billion.

The diluted share count fell 1.9% in a year, typically the result of buybacks.

Five-year trend

Revenue went from $5.6 billion in fiscal 2020 to $8.3 billion in fiscal 2025, about 8.0% a year.
Operating margin widened from 21.9% to 28.2% over the same years.
Free cash flow was positive in each of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$5.9B	$6.2B	$6.1B	$7.4B	$8.3B
Revenue growth	4.6%	5.8%	-2.6%	22.0%	11.6%
Operating margin	24.5%	25.1%	26.0%	24.3%	28.2%
Net income	$1.2B	$1.1B	$1.1B	$1.1B	$1.8B
Free cash flow	$920M	$1.6B	$1.5B	$1.7B	$2.0B
Diluted EPS	$2.35	$2.26	$2.08	$1.93	$3.09

Fiscal years as reported in Nasdaq, Inc.’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

10-Q filed July 23, 2026 — quarterly report
8-K filed July 23, 2026 — Earnings results; Regulation FD disclosure
8-K filed July 1, 2026 — Material agreement; Agreement terminated
8-K filed June 16, 2026 — Shareholder vote results
10-Q filed April 24, 2026 — quarterly report
8-K filed April 23, 2026 — Earnings results; Regulation FD disclosure

All Nasdaq, Inc. filings on SEC EDGAR

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Questions about Nasdaq, Inc.

Is Nasdaq, Inc.'s revenue growing?

Yes. Revenue for the twelve months to June 30, 2026 was $8.8 billion, up 7.7% from a year earlier, according to its SEC filings.

Is Nasdaq, Inc. profitable?

Yes. It earned $2.0 billion in net income over the twelve months to June 30, 2026, a net margin of 22.5%.

Does Nasdaq, Inc. have more cash or more debt?

At June 30, 2026 it had $520 million in cash and $8.8 billion in debt, so more debt than cash.

When did Nasdaq, Inc. last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on July 23, 2026.

Which companies are similar to Nasdaq, Inc.?

In the S&P 500, Nasdaq, Inc. is grouped in Financial Exchanges & Data within the Financials sector. Cboe Global Markets (CBOE), CME Group (CME), Coinbase (COIN), FactSet (FDS), Intercontinental Exchange (ICE) are in the same group.

Understand the numbers

Source: Nasdaq, Inc.’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.