Nasdaq/$NDAQ

14:30
16:10
17:45
19:25
21:00
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About Nasdaq

Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its trading business (about 22.5% of sales), the company sells market and financial data to investors, offers Nasdaq-branded indexes, and lists companies through its capital access segment (42.5%). Nasdaq's newest segment, financial technology, was primarily constructed through the acquisitions of Verafin and Adenza and has expanded the company into capital management, financial crime, and regulatory compliance software (35%) as it seeks to become a diversified technology company.

Ticker

$NDAQ
Sector
Primary listing

Employees

9,625

Nasdaq Metrics

BasicAdvanced
$49B
30.56
$2.80
0.99
$1.02
1.26%

What the Analysts think about Nasdaq

Analyst ratings (Buy, Hold, Sell) for Nasdaq stock.

Bulls say / Bears say

Strong Q3 performance: Nasdaq beat Q3 2025 profit estimates with adjusted EPS of $0.88 and 15% revenue growth, driven by a 14% rise in market services revenue, 23.2% jump in financial technology revenue, and 13.2% increase in index revenue, as Solutions revenue topped $1 billion for the first time (Reuters)
Adenza acquisition synergies: Nasdaq surpassed its post-deal leverage target over a year ahead of schedule and identified $140 million in cost savings, while seven new fintech cross-sales in Q2 2025 support its goal of $100 million in annual cross-sell revenue by 2027, validating the high-margin recurring revenue model (Reuters)
Innovative tokenization strategy: Nasdaq filed a proposal with the SEC to trade tokenized securities—potentially becoming the first major U.S. exchange to integrate blockchain-based assets into the national market system—positioning it at the forefront of market modernization (Reuters)
Risky Adenza valuation: the $10 billion Adenza acquisition carried a steep 31x EBITDA multiple, and while early results have been positive, sustaining projected synergies of $80 million and cross-sell revenue of $100 million by 2027 remains a significant execution challenge that could strain earnings if not met (Reuters)
Elevated valuation multiples: investors now value Nasdaq at more than 20x forecast EBITDA—comparable to pure-play data analytics firms like Moody’s and MSCI—leaving the stock vulnerable to multiple contraction should growth rates slow or macro uncertainty rise (Reuters)
Regulatory hurdles for tokenization: despite its push to trade tokenized securities, the SEC has emphasized that blockchain-based tokens are still subject to existing securities regulations, and full integration hinges on Depository Trust Company infrastructure readiness—likely delaying any rollout until at least Q3 2026 (Reuters)
Data summarised monthly by Lightyear AI. Last updated on 3 Nov 2025.

Nasdaq Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Nasdaq Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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