Friday 6 November 2026 Export NDAQ’s income statement to Excel — free account

Nasdaq, Inc.

NDAQ Financial Financial Data & Stock Exchanges

Nasdaq, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.3 billion, up 11.6% from fiscal 2024.

Revenue: +20.9%
EPS: +31.1%
Free cash flow: +202.0%
Total debt: −2.26%

Quarter to September 2026, against a year earlier

107.07 0.24 +0.22%

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Market cap: $59.3B
P/E: 28.9×
Fwd P/E: 29.4×
Dividend yield: 1.08%
F-score: 9/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Nasdaq, Inc. (NDAQ) Price to free cash flow

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As of 5 November 2026, Nasdaq, Inc. (NDAQ) trades at a price to free cash flow of 26.5×. Over the past ten years it has ranged from 14.2× (January 2019) to 46.7× (September 2021); the current reading is higher than 86% of that period. That is above the Financial Data & Stock Exchanges industry median of 20.2× and above the Financial sector median of 9.7×.

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<iframe src="https://stockrow.com/embed/NDAQ/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="Nasdaq, Inc. price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/NDAQ/metrics/price-to-free-cash-flow">Nasdaq, Inc. (NDAQ) price to free cash flow — stockrow.com</a></p>

Period	Price to free cash flow	Change
FY2025	28.0×	8.99%
FY2024	25.7×	37.50%
FY2023	18.7×	(4.55%)
FY2022	19.6×	(48.32%)
FY2021	37.9×	84.60%
FY2020	20.5×	(2.92%)
FY2019	21.1×	43.66%
FY2018	14.7×	(11.87%)
FY2017	16.7×	(2.74%)
FY2016	17.2×	4.74%

Period	Price to free cash flow	Change
Sep 2026	22.8×	(0.07%)
Jun 2026	22.8×	(5.08%)
Mar 2026	24.0×	(14.23%)
Dec 2025	28.0×	15.83%
43 more quarters	Free account

Against its own ten years

Low 14.2× High 46.7×

Ten-year median 19.0×

Current reading's percentile 86

Company	Price to free cash flow
CBOE Cboe Global Markets, Inc. compare	14.5×
TRU TransUnion compare	17.4×
ICE Intercontinental Exchange Inc. compare	20.2×
SPGI S&P Global Inc. compare	23.6×
CME CME Group Inc. compare	25.4×
NDAQ Nasdaq, Inc.	26.5×
MCO Moody's Corporation compare	29.9×
MSCI MSCI Inc compare	32.6×
COIN Coinbase Global, Inc. compare	46.5×
Financial Data & Stock Exchanges industry median	20.2×
Financial sector median	9.7×
Market median	14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Nasdaq, Inc. (NDAQ) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

More on NDAQ

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