Nasdaq, Inc. (NDAQ) Financial Statements

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Nasdaq financial statements at a glance

Nasdaq reported revenue of $8.26 billion for fiscal year 2025 (ended December 31, 2025), up 11.6% from fiscal year 2024. Net income was $1.79 billion, a net margin of 21.6%.

At the end of fiscal year 2025 it had total assets of $31.05 billion, total liabilities of $18.83 billion and shareholders' equity of $12.23 billion, with total debt of $9.00 billion.

Its operations brought in $2.26 billion of cash.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

NDAQ logo

Nasdaq, Inc.

NDAQUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Revenue
8.26B
Prev Year: 7.40B
YoY: +11.6%
Total Revenue
-
Cost of Revenue
3.01B
Prev Year: 2.75B
YoY: +9.5%
Gross Profit
5.25B
Prev Year: 4.65B
YoY: +12.9%
SG&A Expenses
2.18B
Prev Year: 2.09B
YoY: +4.6%
Operating Expense
-
Depreciation/Amortization
632.00M
Prev Year: 613.00M
YoY: +3.1%
Operating Expenses
5.84B
Prev Year: 5.60B
YoY: +4.3%
Net Non Operating Interest Income Expense
-
Operating Income
2.42B
Prev Year: 1.80B
YoY: +34.4%
Other Income Expense
-
Interest Inc.(Exp.),Net-Non-Op., Total
-245.00M
Prev Year: -370.00M
YoY: +33.8%
Pre-tax Income
-
Other, Net
-27.00M
Prev Year: 21.00M
YoY: -228.6%
Net Income Before Taxes
2.15B
Prev Year: 1.45B
YoY: +48.0%
Net Income Common Stockholders
-
Provision for Income Taxes
358.00M
Prev Year: 334.00M
YoY: +7.2%
Diluted NI Available to Com Stockholders
-
Net Income After Taxes
1.79B
Prev Year: 1.11B
YoY: +60.3%
Basic EPS
-
Net Income Before Extra. Items
1.79B
Prev Year: 1.12B
YoY: +60.1%
Diluted EPS
-
Net Income
1.79B
Prev Year: 1.12B
YoY: +60.1%
Weighted Average Shares (basic)
-
Income Available to Com Excl ExtraOrd
1.79B
Prev Year: 1.12B
YoY: +60.1%
Weighted Average Shares (diluted)
-
Income Available to Com Incl ExtraOrd
1.79B
Prev Year: 1.12B
YoY: +60.1%
Total Operating Income as Reported
-
Diluted Net Income
1.79B
Prev Year: 1.12B
YoY: +60.1%
Rent Expense (supplemental)
-
Diluted Weighted Average Shares
578.60M
Prev Year: 579.19M
YoY: -0.1%
Total Expenses
-
Diluted EPS Excluding ExtraOrd Items
3.09
Prev Year: 1.929
YoY: +60.2%
Net Income from Continuing and Discontinued Operation
-
DPS - Common Stock Primary Issue
1.08
Prev Year: 0.94
YoY: +14.9%
Normalized Income
-
Diluted Normalized EPS
2.724
Prev Year: 1.944
YoY: +40.1%
Interest Income
-
Unusual Expense (Income)
16.00M
Prev Year: 151.00M
YoY: -89.4%
Interest Expense
-
Minority Interest
1.00M
Prev Year: 2.00M
YoY: -50.0%
Net Interest Income
-
Values in USD

Nasdaq key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$8.3B$7.4B$6.1B$6.2B$5.9B
Gross profit$5.2B$4.6B$3.9B$3.6B$2.2B
Operating income$2.4B$1.8B$1.6B$1.6B$1.6B
Net income$1.8B$1.1B$1.1B$1.1B$1.2B
Diluted EPS––––$2.35
Total assets$31.1B$30.4B$32.3B$20.9B$20.1B
Total liabilities$18.8B$19.2B$21.5B$14.7B$13.7B
Shareholders' equity$12.2B$11.2B$10.8B$6.2B$6.4B
Cash––––$393.0M
Total debt$9.0B$9.5B$10.5B$5.4B$6.2B
Operating cash flow$2.3B$1.9B$1.7B$1.7B$1.1B
Capital spending––––$163.0M
Free cash flow––––$920.0M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2018.

Questions and answers

What was Nasdaq's revenue in fiscal year 2025?

$8.26 billion, up 11.6% from $7.40 billion in fiscal year 2024.

How much profit does Nasdaq make?

Nasdaq reported net income of $1.79 billion for fiscal year 2025 (21.6% of revenue); operating income was $2.42 billion.

How much cash and debt does Nasdaq have?

At the end of fiscal year 2025: total debt of $9.00 billion.

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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