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 Nasdaq Inc.NDAQ US · Financials · USD Current price$93.81as of Sep 21, 2026 Summary
Analyst consensusStrong Buy 6Buy 8Hold 2Strong Sell 115 analysts 3-year price (USD)Factor profileMulti-factor score 82 / 100 Market data
Business descriptionGlobal technology company serving capital markets. Operates through three segments: Capital Access Platforms (41% of revenue), Financial Technology (35%), and Market Services (23%). Competitive moatStrong brand franchise as a premier exchange and data provider. Significant transition from transaction-based revenue to high-margin, recurring subscription and data-based revenue models. Strong foothold in anti-financial crime technology (Verafin). Recent developments
Investment risks / red flags
Financials
Classification
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Last updated: Aug 10, 2026
Current price: $93.81 · Sep 21, 2026· USD
CFRA Ratingstrong buy
TBI Multi Score82
Theme Exposure
Related Peers
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Factor Profile (Spider Chart)
TBI ModelPrice Chart (TradingView)
Symbol: NDAQBusiness description
Global technology company serving capital markets. Operates through three segments: Capital Access Platforms (41% of revenue), Financial Technology (35%), and Market Services (23%).
Competitive moat
Strong brand franchise as a premier exchange and data provider. Significant transition from transaction-based revenue to high-margin, recurring subscription and data-based revenue models. Strong foothold in anti-financial crime technology (Verafin).
Recent developments
- FinTech Pivot: Strategic shift toward becoming a technology provider rather than just an exchange. The $10.5B acquisition of Adenza (Calypso + AxiomSL) significantly expanded its regulatory and risk data management capabilities.
- Anti-Financial Crime: Launching "agentic workers" via Verafin to automate fraud detection and AML workflows, targeting larger-sized banks.
- Recurring Revenue Growth: Non-GAAP operating margins increased to 56% in 2025 as the mix shifted toward subscription services.
Investment risks / red flags
- Volume Volatility: Continued exposure to equity trading volumes and market volatility.
- Competition: Intense price competition in the exchange and data space.
- Regulatory Risk: Vulnerability to changes in market rules and financial regulations.
Market Data
Source: mkts.io · Sep 21, 2026, 16:00 UTC
Key Metrics
P/E (TTM)27.36
P/E (Fwd)20.05
Dividend1.24%
Beta0.97
52W High$101.79
52W Low$76.55
Analyst Consensus
6
8
2
Strong Buy6Buy8Hold2Strong Sell115 analysts
Consensus Target$109.67
+16.9% upside
Calendar Events
Next EarningsOct 22, 2026
Ex-DividendSep 11, 2026
Dividend DateSep 25, 2026
Financials
Revenue$5.61B
Rev Growth14.90%
Earnings Growth14.10%
Gross Margin100.00%
Op Margin49.33%
Profit Margin35.04%
EBITDA$3.35B
ROA5.85%
ROE16.52%
Rev/Share$9.87
Total Cash$555.00M
Total Debt$9.32B
D/E Ratio77.69
Free Cash Flow$1.69B
Op Cash Flow$2.25B
Current Ratio1.01
Forward Estimates
| Period | EPS Est | Rev Est |
|---|---|---|
| 0q | 1.03 | $1.47B |
| +1q | 1.08 | $1.53B |
| 0y | 4.14 | $5.91B |
| +1y | 4.68 | $6.40B |
Earnings
Quarterly EPS
3Q2025
Est: 0.850.88Beat
4Q2025
Est: 0.920.96Beat
1Q2026
Est: 0.930.96Beat
2Q2026
Est: 0.981.07Beat
Annual
2022
Rev $3.58BEarn $1.13B
2023
Rev $3.90BEarn $1.06B
2024
Rev $4.68BEarn $1.12B
2025
Rev $5.25BEarn $1.79B
Rating Changes
| Date | Firm | Action | To |
|---|---|---|---|
| Jul 24, 2026 | Keefe, Bruyette & Woods | main | Market Perform |
| Jul 24, 2026 | TD Cowen | main | Buy |
| Jul 24, 2026 | Barclays | main | Overweight |
| Jul 20, 2026 | TD Cowen | main | Buy |
| Jul 10, 2026 | Morgan Stanley | main | Overweight |
| Jul 9, 2026 | Raymond James | main | Outperform |