NASDAQ INC (NDAQ) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:NDAQ • US6311031081

84.83 USD
-0.68 (-0.8%)
At close: Feb 6, 2026
84.9486 USD
+0.12 (+0.14%)
After Hours: 2/6/2026, 8:00:01 PM
Fundamental Rating

5

Overall NDAQ gets a fundamental rating of 5 out of 10. We evaluated NDAQ against 238 industry peers in the Capital Markets industry. While NDAQ belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. NDAQ has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • NDAQ had positive earnings in the past year.
  • NDAQ had a positive operating cash flow in the past year.
  • NDAQ had positive earnings in each of the past 5 years.
  • NDAQ had a positive operating cash flow in 4 of the past 5 years.
NDAQ Yearly Net Income VS EBIT VS OCF VS FCFNDAQ 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 2025 500M 1B 1.5B 2B

1.2 Ratios

  • With a decent Return On Assets value of 5.30%, NDAQ is doing good in the industry, outperforming 68.49% of the companies in the same industry.
  • The Return On Equity of NDAQ (13.52%) is better than 73.11% of its industry peers.
  • NDAQ has a Return On Invested Capital of 8.11%. This is amongst the best in the industry. NDAQ outperforms 81.93% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NDAQ is in line with the industry average of 7.28%.
  • The 3 year average ROIC (7.14%) for NDAQ is below the current ROIC(8.11%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.3%
ROE 13.52%
ROIC 8.11%
ROA(3y)4.24%
ROA(5y)4.8%
ROE(3y)11.47%
ROE(5y)14.25%
ROIC(3y)7.14%
ROIC(5y)8.41%
NDAQ Yearly ROA, ROE, ROICNDAQ Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • With a Profit Margin value of 19.89%, NDAQ perfoms like the industry average, outperforming 53.78% of the companies in the same industry.
  • In the last couple of years the Profit Margin of NDAQ has grown nicely.
  • NDAQ's Operating Margin of 28.43% is in line compared to the rest of the industry. NDAQ outperforms 57.14% of its industry peers.
  • In the last couple of years the Operating Margin of NDAQ has grown nicely.
  • NDAQ has a better Gross Margin (62.26%) than 69.33% of its industry peers.
  • In the last couple of years the Gross Margin of NDAQ has grown nicely.
Industry RankSector Rank
OM 28.43%
PM (TTM) 19.89%
GM 62.26%
OM growth 3Y3.2%
OM growth 5Y4.28%
PM growth 3Y6.39%
PM growth 5Y5.58%
GM growth 3Y3.55%
GM growth 5Y4.36%
NDAQ Yearly Profit, Operating, Gross MarginsNDAQ Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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4

2. Health

2.1 Basic Checks

  • NDAQ has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for NDAQ has been increased compared to 5 years ago.
  • Compared to 1 year ago, NDAQ has an improved debt to assets ratio.
NDAQ Yearly Shares OutstandingNDAQ Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
NDAQ Yearly Total Debt VS Total AssetsNDAQ Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • NDAQ has an Altman-Z score of 2.51. This is not the best score and indicates that NDAQ 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 2.51, NDAQ is in the better half of the industry, outperforming 73.95% of the companies in the same industry.
  • NDAQ has a debt to FCF ratio of 4.34. This is a neutral value as NDAQ would need 4.34 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 4.34, NDAQ is doing good in the industry, outperforming 72.27% of the companies in the same industry.
  • A Debt/Equity ratio of 0.72 indicates that NDAQ is somewhat dependend on debt financing.
  • The Debt to Equity ratio of NDAQ (0.72) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 4.34
Altman-Z 2.51
ROIC/WACCN/A
WACCN/A
NDAQ Yearly LT Debt VS Equity VS FCFNDAQ Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.3 Liquidity

  • NDAQ has a Current Ratio of 0.99. This is a bad value and indicates that NDAQ is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Current ratio value of 0.99, NDAQ perfoms like the industry average, outperforming 43.70% of the companies in the same industry.
  • A Quick Ratio of 0.99 indicates that NDAQ may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.99, NDAQ is in line with its industry, outperforming 44.12% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.99
Quick Ratio 0.99
NDAQ Yearly Current Assets VS Current LiabilitesNDAQ Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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

5

3. Growth

3.1 Past

  • NDAQ shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 23.40%, which is quite impressive.
  • Measured over the past years, NDAQ shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.09% on average per year.
  • The Revenue has grown by 11.08% in the past year. This is quite good.
  • Measured over the past years, NDAQ shows a small growth in Revenue. The Revenue has been growing by 7.87% on average per year.
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
Revenue 1Y (TTM)11.08%
Revenue growth 3Y9.69%
Revenue growth 5Y7.87%
Sales Q2Q%13.45%

3.2 Future

  • Based on estimates for the next years, NDAQ will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.68% on average per year.
  • NDAQ is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.60% yearly.
EPS Next Y13.86%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
EPS Next 5Y11.68%
Revenue Next Year8.93%
Revenue Next 2Y8.53%
Revenue Next 3Y8.35%
Revenue Next 5Y6.6%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
NDAQ Yearly Revenue VS EstimatesNDAQ 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
NDAQ Yearly EPS VS EstimatesNDAQ 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

  • The Price/Earnings ratio is 24.38, which indicates a rather expensive current valuation of NDAQ.
  • NDAQ's Price/Earnings ratio is a bit more expensive when compared to the industry. NDAQ is more expensive than 70.17% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of NDAQ to the average of the S&P500 Index (27.92), we can say NDAQ is valued inline with the index average.
  • NDAQ is valuated rather expensively with a Price/Forward Earnings ratio of 21.41.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NDAQ indicates a slightly more expensive valuation: NDAQ is more expensive than 60.92% of the companies listed in the same industry.
  • NDAQ is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.78, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 24.38
Fwd PE 21.41
NDAQ Price Earnings VS Forward Price EarningsNDAQ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NDAQ is valued a bit cheaper than the industry average as 71.85% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, NDAQ is valued a bit cheaper than the industry average as 60.92% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 23.09
EV/EBITDA 19.47
NDAQ Per share dataNDAQ EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of NDAQ may justify a higher PE ratio.
  • NDAQ's earnings are expected to grow with 13.50% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.76
PEG (5Y)2.2
EPS Next 2Y13.29%
EPS Next 3Y13.5%

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

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.22%, NDAQ has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 6.07, NDAQ is paying slightly less dividend.
  • NDAQ's Dividend Yield is slightly below the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 1.22%

5.2 History

  • On average, the dividend of NDAQ grows each year by 8.85%, which is quite nice.
  • NDAQ has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NDAQ has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)8.85%
Div Incr Years12
Div Non Decr Years12
NDAQ Yearly Dividends per shareNDAQ Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 36.06% of the earnings are spent on dividend by NDAQ. This is a low number and sustainable payout ratio.
  • NDAQ's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP36.06%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
NDAQ Yearly Income VS Free CF VS DividendNDAQ Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
NDAQ Dividend Payout.NDAQ Dividend Payout, showing the Payout Ratio.NDAQ Dividend Payout.PayoutRetained Earnings

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NASDAQ INC

NASDAQ:NDAQ (2/6/2026, 8:00:01 PM)

After market: 84.9486 +0.12 (+0.14%)

84.83

-0.68 (-0.8%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-29
Earnings (Next)04-22
Inst Owners75.55%
Inst Owner Change-1.74%
Ins Owners0.54%
Ins Owner Change-0.04%
Market Cap48.44B
Revenue(TTM)8.22B
Net Income(TTM)1.63B
Analysts82.61
Price Target113.61 (33.93%)
Short Float %1.98%
Short Ratio2.53
Dividend
Industry RankSector Rank
Dividend Yield 1.22%
Yearly Dividend0.94
Dividend Growth(5Y)8.85%
DP36.06%
Div Incr Years12
Div Non Decr Years12
Ex-Date03-16
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)1.44%
PT rev (3m)3.36%
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 24.38
Fwd PE 21.41
P/S 5.93
P/FCF 23.09
P/OCF 20.74
P/B 4.03
P/tB N/A
EV/EBITDA 19.47
EPS(TTM)3.48
EY4.1%
EPS(NY)3.96
Fwd EY4.67%
FCF(TTM)3.67
FCFY4.33%
OCF(TTM)4.09
OCFY4.82%
SpS14.3
BVpS21.06
TBVpS-15.64
PEG (NY)1.76
PEG (5Y)2.2
Graham Number40.6
Profitability
Industry RankSector Rank
ROA 5.3%
ROE 13.52%
ROCE 10.12%
ROIC 8.11%
ROICexc 8.3%
ROICexgc 126.57%
OM 28.43%
PM (TTM) 19.89%
GM 62.26%
FCFM 25.69%
ROA(3y)4.24%
ROA(5y)4.8%
ROE(3y)11.47%
ROE(5y)14.25%
ROIC(3y)7.14%
ROIC(5y)8.41%
ROICexc(3y)7.35%
ROICexc(5y)8.76%
ROICexgc(3y)118.06%
ROICexgc(5y)122.25%
ROCE(3y)8.99%
ROCE(5y)10.78%
ROICexgc growth 3Y7.04%
ROICexgc growth 5Y2.88%
ROICexc growth 3Y-8.1%
ROICexc growth 5Y-4.1%
OM growth 3Y3.2%
OM growth 5Y4.28%
PM growth 3Y6.39%
PM growth 5Y5.58%
GM growth 3Y3.55%
GM growth 5Y4.36%
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 2.51
F-Score8
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
EPS Next Y13.86%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
EPS Next 5Y11.68%
Revenue 1Y (TTM)11.08%
Revenue growth 3Y9.69%
Revenue growth 5Y7.87%
Sales Q2Q%13.45%
Revenue Next Year8.93%
Revenue Next 2Y8.53%
Revenue Next 3Y8.35%
Revenue Next 5Y6.6%
EBIT growth 1Y22.92%
EBIT growth 3Y13.21%
EBIT growth 5Y12.49%
EBIT Next Year16.03%
EBIT Next 3Y7.86%
EBIT Next 5Y7.79%
FCF growth 1Y43.5%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y41.43%
OCF growth 3YN/A
OCF growth 5YN/A

NASDAQ INC / NDAQ FAQ

What is the fundamental rating for NDAQ stock?

ChartMill assigns a fundamental rating of 5 / 10 to NDAQ.


Can you provide the valuation status for NASDAQ INC?

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


Can you provide the profitability details for NASDAQ INC?

NASDAQ INC (NDAQ) has a profitability rating of 7 / 10.


What is the valuation of NASDAQ INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for NASDAQ INC (NDAQ) is 24.38 and the Price/Book (PB) ratio is 4.03.


Can you provide the expected EPS growth for NDAQ stock?

The Earnings per Share (EPS) of NASDAQ INC (NDAQ) is expected to grow by 13.86% in the next year.