Nasdaq, Inc. (NDAQ) AI Stock Analysis

Nasdaq, Inc. operates as a technology provider serving global capital markets and various industries. The Market Technology segment delivers anti-financial crime technology, including Nasdaq Trade Surveillance, Nasdaq Automated Investigator, and the Verafin SaaS platform, while managing portfolios ranging from cash equities to digital currencies. The Investment Intelligence segment sells real-time and historical market data, develops Nasdaq-branded indexes and financial products, and delivers investment insights. Corporate Platforms operates listing platforms with 4,178 listed companies as of December 31, 2021, and provides investor relations intelligence. Market Services provides trading and clearing for equity derivatives, cash equities, fixed income, commodities, and trade management.

Between FY2020 and FY2025, Nasdaq recorded a 5-year revenue CAGR of 7.9%. Revenue rose from $5.89B in FY2021 to $6.23B in FY2022, contracted 2.6% to $6.06B in FY2023, and then expanded 22.0% to $7.40B in FY2024 and 11.1% to $8.22B in FY2025. Gross margin expanded from 37.9% in FY2021 to 47.9% in FY2025, while operating margin rose to 28.4%. Net income reached $1.79B in FY2025, yielding diluted EPS of $3.48. In the latest quarter ended June 30, 2026, quarterly revenue increased 14.9% year-over-year, and quarterly earnings grew 14.1%. Trailing twelve months revenue stands at $5.61B with an operating margin of 49.3%.

As of June 30, 2026, Nasdaq held $2.79B in cash and short-term investments against total debt of $9.24B, resulting in net debt of $6.46B. The company recorded a current ratio of 0.48 and a debt-to-equity ratio of 0.77 based on $11.99B in shareholders' equity. In FY2025, operating cash flow reached $2.25B and free cash flow was $1.99B. Capital allocation in FY2025 included capital expenditures of $266.0M, share buybacks of $616.0M, and dividends paid of $601.0M, alongside a 5-year share count change of 11.5%.

At a closing price of $93.97, Nasdaq trades at a trailing P/E of 27.4x and a forward P/E of 23.6x, both higher than the median of its S&P 500 Financial Services peers of 14.2x and 12.2x, respectively. The company carries an enterprise value to EBITDA ratio of 17.5x versus the peer median of 15.1x, and a price-to-sales multiple of 9.4x compared to the peer median of 3.1x. Over the past year, NDAQ returned 8.3%, trailing the S&P 500 (SPY) return of 16.8%. Over five years, the stock gained 48.8% versus 83.0% for SPY.

Nasdaq pays a quarterly dividend with an annualized forward payout of $1.16 per share, yielding 1.23%. The company maintains a payout ratio of 30.0% and has paid dividends for 15 consecutive years. Over the trailing five years, its annualized dividend growth rate was 10.2%. The last ex-dividend date occurred on September 11, 2026.

Wall Street analyst ratings comprise 8 Strong Buy, 6 Buy, 3 Hold, 1 Sell, and 0 Strong Sell recommendations. The mean price target is $108.75, which sits 15.7% above the last close of $93.97. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $4.12 on revenue of $5.90B. For the following fiscal year, 17 analysts forecast EPS of $4.68 on revenue of $6.40B. Nasdaq surpassed EPS estimates in 4 of its last 4 quarters, with its next earnings release scheduled for October 22, 2026.

This page is an AI-written research summary of Nasdaq, Inc. (NDAQ). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: NDAQ income statement, NDAQ balance sheet, NDAQ key metrics, NDAQ analyst forecast, NDAQ chart. See the NDAQ stock overview for the latest quote and news.