Nasdaq, Inc. (NDAQ) is listed on NASDAQ and operates in the Financial - Data & Stock Exchanges industry (Financial Services sector).
Nasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions. This segment also handles assets, such as cash equities, equity derivatives, currencies, interest-bearing securities, commodities, energy products, and digital currencies. The Investment Intelligence segment sells and distributes historical and real-time market data; develops and licenses Nasdaq-branded indexes and financial products; and provides investment insights and workflow solutions. The Corporate Platforms segment operates listing platforms; and offers investor relations intelligence and governance solutions. As of December 31, 2021, it had 4,178 companies listed securities on The Nasdaq Stock Market, including 1,632 listings on The Nasdaq Global Select Market; 1,169 on The Nasdaq Global Market; and 1,377 on The Nasdaq Capital Market. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses. This...
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 22 |
| Hold | 13 |
| Sell | 1 |
| Strong Sell | 0 |
Nasdaq, Inc. is a technology company operating within the financial services sector, focusing on capital markets and related industries globally. Its Market Technology segment provides anti-financial crime solutions, including Nasdaq Trade Surveillance and Nasdaq Automated Investigator, as well as Verafin's management solutions. This segment also manages assets such as equities, derivatives, currencies, and digital currencies. The Investment Intelligence segment offers market data, develops and licenses Nasdaq-branded indexes, and provides investment insights and workflow solutions. The Corporate Platforms segment manages listing platforms and offers investor relations and governance solutions. As of December 31, 2021, Nasdaq had 4,178 listed securities, including listings on The Nasdaq Global Select Market, The Nasdaq Global Market, and The Nasdaq Capital Market. The Market Services segment encompasses trading and clearing services for equities, derivatives, fixed income, and commodities, and operates various exchanges and marketplace facilities. Nasdaq, Inc., originally known as The NASDAQ OMX Group, Inc., was founded in 1971 and is headquartered in New York, New York. The company adopted its current name in September 2015.
Over the past three fiscal years, the company has demonstrated robust revenue growth, achieving a consistent increase at a 16.4% CAGR, rising from $6.06 billion in 2023 to $8.22 billion in 2025. This growth was accompanied by a notable improvement in profitability metrics, with the operating margin expanding by 2.3 percentage points from 26.0% to 28.4%, and the net margin increasing by 4.3 percentage points to 21.8%. Despite these gains, the gross margin exhibited some volatility, ultimately improving by 5.9 percentage points to 47.9% in 2025. Cash generation has been strong, with operating cash flow and free cash flow consistently increasing, reaching $2.26 billion and $1.99 billion, respectively, by 2025. However, the free cash flow margin slightly compressed by 1.2 percentage points to 24.2%. The company's net debt position has improved, decreasing from $10.42 billion to $9.11 billion, reflecting a more favorable leverage profile. Despite the positive financial performance, the share count increased by 13.4%, which has partially diluted per-share gains. The company's return on invested capital (ROIC) has consistently improved, reaching 9.8%, indicating efficient capital utilization. Additionally, the cash conversion ratio, although inconsistent, remains solid at 1.26, suggesting that earnings are well-supported by cash flows. Overall, the company has shown strong financial health and operational efficiency, although the increase in share count presents a challenge to maximizing per-share value.
Recent developments for Nasdaq, Inc. (NDAQ) are primarily focused on its upcoming earnings report. Analysts are anticipating growth in the company's Q1 earnings, with expectations of a potential beat, as highlighted by Zacks Investment Research on April 20. This optimism is supported by a general positive sentiment on Wall Street regarding Nasdaq's performance metrics. Additionally, the Nasdaq index itself has been experiencing a rebound, with a noted historical tendency to recover quickly from corrections, as reported by The Motley Fool on April 18. This has led to increased interest in growth stocks within the index.
In related news, NewHold Investment Corp IV, which trades on Nasdaq, announced the closing of its $201.25 million initial public offering on April 16, following the full exercise of the underwriters' over-allotment option. This development underscores the ongoing activity and investor interest in companies listed on Nasdaq. Furthermore, Alpha Modus Holdings, Inc. has taken steps to strengthen its balance sheet and improve compliance with Nasdaq's listing standards, as part of its strategic initiatives reported on April 13. These financial maneuvers reflect a broader trend of companies striving to meet and maintain Nasdaq's rigorous listing requirements.