Is Nasdaq, Inc. (NDAQ) overvalued or fairly valued?

MarketChacha shows Nasdaq, Inc.'s valuation in context — a trailing P/E of about 28.6, a forward P/E of about 20.3, a price-to-book of about 4.4 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Nasdaq, Inc.'s reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.49×) from reported figures — education, not a rating.

What is Nasdaq, Inc.'s revenue?

Nasdaq, Inc. reported revenue of $8.3B for FY2025, with net profit of $1.8B, per official filings.

What is the share price of Nasdaq, Inc. (NDAQ)?

Nasdaq, Inc. last traded at $94.83 (+1.7% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Nasdaq, Inc.

NDAQ · NASDAQ · Financials · United States

Snapshot

TickerNDAQ

ExchangeNASDAQ

SectorFinancials

IndustryFinancial Data & Stock Exchanges

CountryUnited States

Employees9,630

HeadquartersNew York, United States

Websitewww.nasdaq.com

Filings tracked14

About Nasdaq, Inc.

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.

Who owns it

Insiders11.0%
Institutions87.4%
Public & other1.6%

1,551 institutional holders

Ownership breakdown from public market data.

Top holders

Investor AB10.45%
Blackrock Inc.6.65%
Vanguard Capital Management LLC5.59%
Wellington Management Group, LLP5.43%
Vanguard Portfolio Management LLC4.67%
Massachusetts Financial Services Co.4.16%
State Street Corporation3.61%
Geode Capital Management, LLC2.35%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.49×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend17.5% → 21.6%

Margin has expanded by about 4.2 points — the business is getting more profitable.

Growth qualityrev 17% · PAT 30%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $1.5B · EPS 1.07

Est. earnings growth +11.7%

Next fiscal year

Rev $6.4B · EPS 4.68

Est. earnings growth +13.6%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$8.3B

Net margin

21.6%

ROE

14.6%

Revenue CAGR (2y)

+16.7%

Profit CAGR (2y)

+29.9%

EPS (FY2025)

3.09

Net profit (FY2025)

$1.8B

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$8.3B	$1.8B	3.09	21.6%	14.6%
FY2024	$7.4B	$1.1B	1.93	15.1%	10.0%
FY2023	$6.1B	$1.1B	2.08	17.5%	9.8%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$2.5B	$507.0M	0.89	20.0%
2026Q1	$2.1B	$519.0M	0.91	24.3%
2025Q3	$2.0B	$423.0M	0.73	21.6%
2025Q2	$2.1B	$452.0M	0.78	21.5%
2025Q1	$2.1B	$395.0M	0.68	18.8%
2024Q3	$1.9B	$306.0M	0.53	16.1%
2024Q2	$1.8B	$222.0M	0.38	12.4%
2024Q1	$1.7B	$234.0M	0.40	14.0%
2023Q3	$1.5B	$294.0M	0.60	20.3%
2023Q2	$1.4B	$267.0M	0.54	18.6%
2023Q1	$1.5B	$302.0M	0.61	19.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC7/23/2026
8-K — Results of operations, Reg FD disclosure, Other events, Exhibits
SEC7/23/2026material
8-K — Material agreement, Termination of agreement, Material financial obligation, Exhibits
SEC7/1/2026material
8-K — Shareholder vote results
SEC6/16/2026material
10-Q filing
SEC4/24/2026
8-K — Results of operations, Reg FD disclosure, Other events, Exhibits
SEC4/23/2026material
10-K filing
SEC2/12/2026
8-K — Results of operations, Reg FD disclosure, Other events, Exhibits
SEC1/29/2026material
8-K — Bylaw/charter change, Exhibits
SEC1/16/2026material

2025

8-K — Other events, Exhibits
SEC12/15/2025material
8-K — Other events, Exhibits
SEC12/1/2025material
10-Q filing
SEC10/23/2025
8-K — Results of operations, Reg FD disclosure, Other events, Exhibits
SEC10/21/2025material
10-Q filing
SEC7/25/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.