NASDAQ INC (NAQ.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:NAQ • US6311031081

73.93 EUR
+0.73 (+1%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to NAQ. NAQ was compared to 119 industry peers in the Capital Markets industry. NAQ has a medium profitability rating, but doesn't score so well on its financial health evaluation. NAQ has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • NAQ had positive earnings in the past year.
  • In the past year NAQ had a positive cash flow from operations.
  • NAQ had positive earnings in 4 of the past 5 years.
  • Of the past 5 years NAQ 4 years had a positive operating cash flow.
NAQ.DE Yearly Net Income VS EBIT VS OCF VS FCFNAQ.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

1.2 Ratios

  • With a decent Return On Assets value of 5.30%, NAQ is doing good in the industry, outperforming 75.63% of the companies in the same industry.
  • With a decent Return On Equity value of 13.52%, NAQ is doing good in the industry, outperforming 71.43% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 7.71%, NAQ is doing good in the industry, outperforming 79.83% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for NAQ is in line with the industry average of 8.69%.
  • The last Return On Invested Capital (7.71%) for NAQ is above the 3 year average (7.46%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.3%
ROE 13.52%
ROIC 7.71%
ROA(3y)4.12%
ROA(5y)4.69%
ROE(3y)12.69%
ROE(5y)14.23%
ROIC(3y)7.46%
ROIC(5y)7.97%
NAQ.DE Yearly ROA, ROE, ROICNAQ.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 19.89%, NAQ is in the better half of the industry, outperforming 63.87% of the companies in the same industry.
  • In the last couple of years the Profit Margin of NAQ has declined.
  • With a decent Operating Margin value of 28.43%, NAQ is doing good in the industry, outperforming 68.91% of the companies in the same industry.
  • In the last couple of years the Operating Margin of NAQ has remained more or less at the same level.
  • Looking at the Gross Margin, with a value of 62.26%, NAQ is in the better half of the industry, outperforming 69.75% of the companies in the same industry.
  • NAQ's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 28.43%
PM (TTM) 19.89%
GM 62.26%
OM growth 3Y-0.88%
OM growth 5Y0.46%
PM growth 3Y-9.2%
PM growth 5Y-3.63%
GM growth 3Y2.64%
GM growth 5Y1.1%
NAQ.DE Yearly Profit, Operating, Gross MarginsNAQ.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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3

2. Health

2.1 Basic Checks

  • NAQ has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
NAQ.DE Yearly Shares OutstandingNAQ.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
NAQ.DE Yearly Total Debt VS Total AssetsNAQ.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • NAQ has an Altman-Z score of 2.52. This is not the best score and indicates that NAQ is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.52, NAQ is in the better half of the industry, outperforming 78.15% of the companies in the same industry.
  • NAQ has a debt to FCF ratio of 4.34. This is a neutral value as NAQ would need 4.34 years to pay back of all of its debts.
  • NAQ's Debt to FCF ratio of 4.34 is fine compared to the rest of the industry. NAQ outperforms 75.63% of its industry peers.
  • A Debt/Equity ratio of 0.72 indicates that NAQ is somewhat dependend on debt financing.
  • NAQ has a Debt to Equity ratio (0.72) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 4.34
Altman-Z 2.52
ROIC/WACCN/A
WACCN/A
NAQ.DE Yearly LT Debt VS Equity VS FCFNAQ.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 0.99 indicates that NAQ may have some problems paying its short term obligations.
  • NAQ's Current ratio of 0.99 is in line compared to the rest of the industry. NAQ outperforms 58.82% of its industry peers.
  • NAQ has a Quick Ratio of 0.99. This is a bad value and indicates that NAQ is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.99, NAQ is in line with its industry, outperforming 59.66% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.99
Quick Ratio 0.99
NAQ.DE Yearly Current Assets VS Current LiabilitesNAQ.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • NAQ shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 23.40%, which is quite impressive.
  • The Earnings Per Share has been growing by 11.09% on average over the past years. This is quite good.
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%13.45%

3.2 Future

  • NAQ is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.68% yearly.
  • The Revenue is expected to grow by 6.60% on average over the next years.
EPS Next Y13%
EPS Next 2Y12.28%
EPS Next 3Y10.87%
EPS Next 5Y11.68%
Revenue Next Year8.38%
Revenue Next 2Y8.15%
Revenue Next 3Y6.48%
Revenue Next 5Y6.6%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
NAQ.DE Yearly Revenue VS EstimatesNAQ.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B 8B
NAQ.DE Yearly EPS VS EstimatesNAQ.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4 5

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4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 25.15 indicates a quite expensive valuation of NAQ.
  • NAQ's Price/Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.67, NAQ is valued at the same level.
  • The Price/Forward Earnings ratio is 22.22, which indicates a rather expensive current valuation of NAQ.
  • Based on the Price/Forward Earnings ratio, NAQ is valued a bit cheaper than 62.18% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.20. NAQ is around the same levels.
Industry RankSector Rank
PE 25.15
Fwd PE 22.22
NAQ.DE Price Earnings VS Forward Price EarningsNAQ.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NAQ indicates a somewhat cheap valuation: NAQ is cheaper than 68.91% of the companies listed in the same industry.
  • 74.79% of the companies in the same industry are more expensive than NAQ, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 23.78
EV/EBITDA 19.66
NAQ.DE Per share dataNAQ.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NAQ does not grow enough to justify the current Price/Earnings ratio.
  • NAQ has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.93
PEG (5Y)2.27
EPS Next 2Y12.28%
EPS Next 3Y10.87%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.10%, NAQ has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 3.02, NAQ has a dividend in line with its industry peers.
  • Compared to the average S&P500 Dividend Yield of 1.82, NAQ is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.1%

5.2 History

  • The dividend of NAQ is nicely growing with an annual growth rate of 8.85%!
Dividend Growth(5Y)8.85%
Div Incr Years1
Div Non Decr Years1
NAQ.DE Yearly Dividends per shareNAQ.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • 36.06% of the earnings are spent on dividend by NAQ. This is a low number and sustainable payout ratio.
  • The dividend of NAQ is growing, but earnings are growing more, so the dividend growth is sustainable.
DP36.06%
EPS Next 2Y12.28%
EPS Next 3Y10.87%
NAQ.DE Yearly Income VS Free CF VS DividendNAQ.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
NAQ.DE Dividend Payout.NAQ.DE Dividend Payout, showing the Payout Ratio.NAQ.DE Dividend Payout.PayoutRetained Earnings

More info and screens

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NASDAQ INC

FRA:NAQ (2/5/2026, 7:00:00 PM)

73.93

+0.73 (+1%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-29
Earnings (Next)04-22
Inst Owners75.55%
Inst Owner ChangeN/A
Ins Owners0.54%
Ins Owner ChangeN/A
Market Cap42.21B
Revenue(TTM)N/A
Net Income(TTM)1.63B
Analysts82.61
Price Target94.9 (28.36%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.1%
Yearly Dividend0.79
Dividend Growth(5Y)8.85%
DP36.06%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.1%
Min EPS beat(2)1.81%
Max EPS beat(2)2.38%
EPS beat(4)3
Avg EPS beat(4)1%
Min EPS beat(4)-0.6%
Max EPS beat(4)2.38%
EPS beat(8)5
Avg EPS beat(8)0.99%
EPS beat(12)8
Avg EPS beat(12)1.15%
EPS beat(16)11
Avg EPS beat(16)1.77%
Revenue beat(2)1
Avg Revenue beat(2)-0.11%
Min Revenue beat(2)-0.53%
Max Revenue beat(2)0.31%
Revenue beat(4)1
Avg Revenue beat(4)-0.91%
Min Revenue beat(4)-1.92%
Max Revenue beat(4)0.31%
Revenue beat(8)3
Avg Revenue beat(8)-0.81%
Revenue beat(12)5
Avg Revenue beat(12)10.61%
Revenue beat(16)9
Avg Revenue beat(16)25.44%
PT rev (1m)1.65%
PT rev (3m)2.57%
EPS NQ rev (1m)-0.09%
EPS NQ rev (3m)1.14%
EPS NY rev (1m)-0.07%
EPS NY rev (3m)1.53%
Revenue NQ rev (1m)0.36%
Revenue NQ rev (3m)0.8%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)0.79%
Valuation
Industry RankSector Rank
PE 25.15
Fwd PE 22.22
P/S 6.11
P/FCF 23.78
P/OCF 21.37
P/B 4.15
P/tB N/A
EV/EBITDA 19.66
EPS(TTM)2.94
EY3.98%
EPS(NY)3.33
Fwd EY4.5%
FCF(TTM)3.11
FCFY4.2%
OCF(TTM)3.46
OCFY4.68%
SpS12.1
BVpS17.81
TBVpS-13.24
PEG (NY)1.93
PEG (5Y)2.27
Graham Number34.33
Profitability
Industry RankSector Rank
ROA 5.3%
ROE 13.52%
ROCE 10.12%
ROIC 7.71%
ROICexc 7.89%
ROICexgc 120.36%
OM 28.43%
PM (TTM) 19.89%
GM 62.26%
FCFM 25.69%
ROA(3y)4.12%
ROA(5y)4.69%
ROE(3y)12.69%
ROE(5y)14.23%
ROIC(3y)7.46%
ROIC(5y)7.97%
ROICexc(3y)7.79%
ROICexc(5y)8.72%
ROICexgc(3y)105.04%
ROICexgc(5y)113.14%
ROCE(3y)10.12%
ROCE(5y)10.74%
ROICexgc growth 3Y-7.3%
ROICexgc growth 5Y3.79%
ROICexc growth 3Y-12.6%
ROICexc growth 5Y-5.33%
OM growth 3Y-0.88%
OM growth 5Y0.46%
PM growth 3Y-9.2%
PM growth 5Y-3.63%
GM growth 3Y2.64%
GM growth 5Y1.1%
F-Score8
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 4.34
Debt/EBITDA 2.94
Cap/Depr 37.98%
Cap/Sales 2.9%
Interest Coverage 6.23
Cash Conversion 79.26%
Profit Quality 129.11%
Current Ratio 0.99
Quick Ratio 0.99
Altman-Z 2.52
F-Score8
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)47.2%
Cap/Depr(5y)58.66%
Cap/Sales(3y)2.61%
Cap/Sales(5y)2.79%
Profit Quality(3y)146.14%
Profit Quality(5y)125.99%
High Growth Momentum
Growth
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
EPS Next Y13%
EPS Next 2Y12.28%
EPS Next 3Y10.87%
EPS Next 5Y11.68%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%13.45%
Revenue Next Year8.38%
Revenue Next 2Y8.15%
Revenue Next 3Y6.48%
Revenue Next 5Y6.6%
EBIT growth 1Y22.92%
EBIT growth 3Y6.98%
EBIT growth 5Y12.18%
EBIT Next Year22.32%
EBIT Next 3Y13.23%
EBIT Next 5Y9.28%
FCF growth 1Y29.27%
FCF growth 3Y23.48%
FCF growth 5Y15.68%
OCF growth 1Y31.7%
OCF growth 3Y21.43%
OCF growth 5Y15.02%

NASDAQ INC / NAQ.DE FAQ

What is the ChartMill fundamental rating of NASDAQ INC (NAQ.DE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to NAQ.DE.


What is the valuation status for NAQ stock?

ChartMill assigns a valuation rating of 4 / 10 to NASDAQ INC (NAQ.DE). This can be considered as Fairly Valued.


What is the profitability of NAQ stock?

NASDAQ INC (NAQ.DE) has a profitability rating of 6 / 10.


What is the financial health of NASDAQ INC (NAQ.DE) stock?

The financial health rating of NASDAQ INC (NAQ.DE) is 3 / 10.


Is the dividend of NASDAQ INC sustainable?

The dividend rating of NASDAQ INC (NAQ.DE) is 5 / 10 and the dividend payout ratio is 36.06%.