Nasdaq, Inc. (NDAQ) Stock: Price, Forecast & Analyst Target
Nasdaq, Inc. (NDAQ) — MoonshotScore 77/100 (Strong band), calculated Oct 5, 2026. Price $90.33 (-1.46%), as of the Oct 2, 2026 trading session; market cap $50.5B. Expected results Oct 20, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 18.12× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Oct 20, 2026
Nasdaq, Inc. · NDAQ · NASDAQ · Financial Services · Financial - Data & Stock Exchanges
Research dated 2026-09-12: Nasdaq is an exchange operator, but trading venues are only part of the business: it also sells market data, index licenses, listing services, investor-relations tools, governance products, surveillance software and financial-crime technology. The investment question is whether growth in technology and access platforms can keep lifting earnings and cash generation while transaction activity fluctuates and debt remains well above cash.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · Nasdaq (NDAQ)
StrongWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Elite quality, but a full valuation. Business Quality: Elite; Financial Safety: Okay; Valuation: Rich; Growth Durability: Growing; Momentum: Rising.
Price relative to book value is the main valuation drag relative to sector peers.
- quarterly revenue $2.53B (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 8 of 8
- expected results Oct 20, 2026
Holding back: a rich price
Helping: business quality
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 84 | Exceptional | |
| 87 | Exceptional | |
| 83 | Exceptional | |
| 83 | Exceptional | |
| 84 | Exceptional | |
| 84 | Exceptional |
The score moved from 80 in the stored Oct 4, 2026 snapshot to 77 in the current publication computed Oct 5, 2026 (-3); the largest pillar moves were Growth Durability -23 and Momentum +2. This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $90.33 | |
| Change on the day | -1.46% | |
| 52-week range | $76.55 – $101.79 | |
| Market capitalisation | $50.5B | |
| Price / earnings (trailing) | 26.03 | |
| Shares traded on the day | 3.37M | |
| Beta (volatility vs the S&P 500) | 0.97 | |
| Dividends per share (last 12 months) | $1.16 | |
| Dividend yield (last 12 months) | 1.28% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
We maintain our 2026 non-GAAP tax rate guidance of 22.5% to 24.5%.
Sarah Youngwood · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for Nasdaq (NDAQ): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
5-Factor Breakdown
Legends Council
4 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 3, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 5, 2026, except a card that shows its own read date.
Watch the NDAQ film — every key number, told as a short cinematic story
~2 min · open the film
What is Nasdaq (NDAQ), and what does it report?
Short answer · as of
Market Services earns from trading, clearing, settlement and related infrastructure across equities, derivatives, fixed income and commodities.
Research dated 2026-09-12.
Market Services earns from trading, clearing, settlement and related infrastructure across equities, derivatives, fixed income and commodities. Capital Access Platforms combines listings with index, market-data, workflow, investor-relations and governance offerings, while Market Technology sells exchange infrastructure, trade surveillance and financial-crime software such as Verafin.
That mix makes Nasdaq less comparable to a pure exchange venue than its name suggests. Reported revenue measures activity across transaction businesses and contracted technology or information products, while profit reflects the combined economics of those distinct models.
What do the latest results show for Nasdaq (NDAQ)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $2.53B.
Research dated 2026-09-12.
The latest results show a sharp sequential rise in revenue, gross profit and operating profit. Net income eased slightly and diluted earnings per share remained close to the prior period, yet reported earnings and revenue again exceeded consensus estimates, continuing a persistent run of beats.
The business mechanism is diversification rather than dependence on listings alone: transaction activity feeds Market Services, while data, indexes, workflow tools, surveillance and financial-crime products create technology and information revenue. Management also maintained its adjusted tax-rate guidance, making execution across the operating businesses the more informative variable to watch.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $2.53B Jun 30, 2026
- Latest quarter · SG&A
- $512.00M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $877.00M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $2.53B | Not available | $512.00M | $877.00M |
| Mar 31, 2026 | $2.14B | Not available | $561.00M | $657.00M |
| Dec 31, 2025 | $2.08B | Not available | −$155.00M | $630.00M |
| Sep 30, 2025 | $1.96B | Not available | $105.00M | $586.00M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $1.50B Jul 23, 2026
- Latest report · revenue estimate
- $1.46B Jul 23, 2026
- Latest report · revenue vs estimate
- Above estimate Jul 23, 2026
- Latest report · EPS vs estimate
- Above estimate Jul 23, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Jul 23, 2026 | $1.50B | $1.46B | $1.0700 | $0.9840 |
| Apr 23, 2026 | $1.41B | $1.37B | $0.9600 | $0.9300 |
| Jan 29, 2026 | $1.39B | $1.37B | $0.9600 | $0.9220 |
| Oct 21, 2025 | $1.96B | $1.30B | $0.8800 | $0.8520 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $2.53B | $507M | $0.89 (diluted) |
| Q1 FY2026 | $2.14B | $519M | $0.91 (diluted) |
| Q4 FY2025 | $2.08B | $519M | $0.90 (diluted) |
| Q3 FY2025 | $1.96B | $423M | $0.73 (diluted) |
What are the financial strengths and risks for Nasdaq (NDAQ)?
Short answer
Cash and short-term investments were $2.79B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $711.00M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-12.
Nasdaq converts profit into substantial operating cash flow, and capital spending has remained modest relative to that inflow. Profitability screens are healthy, annual net income has strengthened, and recent quarterly operating profit is well above the earlier part of the reported series.
Leverage is the clearest financial constraint. Debt materially exceeds cash and short-term investments, liquidity ratios are below parity, and the cash balance has moved sharply between reporting dates; strong cash generation therefore matters for financial flexibility. Operationally, weaker trading activity can pressure Market Services, while any slowdown in adoption or retention of surveillance, financial-crime, data and workflow products would weaken the diversification intended to offset that exposure.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $711.00M Jun 30, 2026
- Previous quarter · operating cash flow
- $689.00M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $711.00M | −$77.00M |
| Mar 31, 2026 | $689.00M | −$60.00M |
| Dec 31, 2025 | $625.00M | −$89.00M |
| Sep 30, 2025 | $221.00M | −$69.00M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Nasdaq (NDAQ)?
Short answer · as of
The next earnings report is expected on Oct 20, 2026.
Research dated 2026-09-12.
At the next earnings release, watch whether revenue and operating profit hold near the stronger recent level without a widening gap between operating progress and net income. Another useful check is whether operating cash flow remains comfortably above capital spending and whether the elevated cash balance is retained or used against debt.
Results by business line matter more than the Nasdaq exchange headline alone. Market Services will indicate the contribution from trading and clearing activity, while Market Technology and Capital Access Platforms will show whether software, surveillance, financial-crime, index, data and corporate-platform demand is broadening the earnings base.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
We maintain our 2026 non-GAAP tax rate guidance of 22.5% to 24.5%.
Sarah Youngwood ·
How does Nasdaq compare with its peers?
Short answer
Nasdaq's score ranks 4th of 10 in the bounded comparison shown, against 9 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-12.
Nasdaq combines transaction venues with index licensing, market data, corporate services and regulatory technology inside the same company. A pure exchange operator is more directly exposed to trading and listing activity, while a pure financial-data or software vendor lacks Nasdaq's venue, clearing and market-infrastructure relationships.
That integrated model gives Nasdaq distinct demand channels: market activity supports transaction revenue, issuers buy listing and corporate tools, asset managers license indexes and data, and financial institutions use surveillance and financial-crime software. The tradeoff is a more complex revenue mix and exposure to execution across software, information services and regulated market infrastructure at the same time.
| Company | Price | Market value | Score |
|---|---|---|---|
| $266.00 Oct 2, 2026 | $9.46B | 89 5-pillar Oct 5, 2026 | |
| $263.14 Oct 2, 2026 | $94.6B | 83 5-pillar Oct 5, 2026 | |
| $183.55 Oct 2, 2026 | $6.89B | 81 5-pillar Oct 5, 2026 | |
| Nasdaq (NDAQ) — this page | $90.33 | $50.5B | 77 |
| $441.36 Oct 2, 2026 | $76.4B | 75 5-pillar Oct 5, 2026 | |
| $150.15 Oct 2, 2026 | $84.3B | 74 5-pillar Oct 5, 2026 | |
| $535.95 Oct 2, 2026 | $39.0B | 72 5-pillar Oct 5, 2026 | |
| $386.27 Oct 2, 2026 | $114B | 66 5-pillar Oct 5, 2026 | |
| $40.50 Oct 2, 2026 | $380M | 66 5-pillar Oct 5, 2026 | |
| $183.00 Oct 2, 2026 | $48.3B | 37 5-pillar Oct 5, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $100.00 – $120.00
- Consensus target
- $110.71
- Median target
- $111.00
Consensus record · Captured .
Measured against a quoted price of $90.33 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Sep 22, 2026
- Transactions
- 31
- Identified insiders
- 18
- Purchases
- 1
- Sales
- 17
- Other transactions
- 13
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 83.9% Period end Jun 30, 2026
- Previous quarter · ownership
- 82.6% Prior to period end Jun 30, 2026
- Reporting holders
- 1,116 Period end Jun 30, 2026
- Previous quarter · holders
- 1,135 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Investor Ab | 58,439,208 |
| Blackrock, INC. | 37,194,072 |
| Vanguard Capital Management LLC | 31,225,614 |
| Wellington Management Group Llp | 30,332,286 |
| Vanguard Portfolio Management LLC | 26,091,520 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Nasdaq (NDAQ)?
Common Questions About NDAQ (Financial Services)
Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
What does Nasdaq sell besides exchange trading?
Nasdaq sells market data, index licenses, listing and governance services, investor-relations tools, workflow products, exchange technology, trade surveillance and financial-crime software. These offerings make the company a capital-markets infrastructure and technology provider as well as a venue operator.
How does Verafin fit into Nasdaq?
Verafin sits within Nasdaq's financial-crime technology offering and provides software used by financial institutions for anti-financial-crime management. It extends Nasdaq's customer relationship beyond trading venues into compliance operations.
Why can Nasdaq revenue move with market activity while software expands?
Market Services remains the largest reported segment and earns from trading, clearing and related infrastructure, so changes in market activity still matter. Technology, data, index and corporate-platform products add contracted or licensed demand, but they do not eliminate transaction exposure.
Why does Nasdaq cash not neutralize its debt?
Debt stands materially above cash and short-term investments, leaving Nasdaq in a net-debt position despite strong operating cash generation. The cash balance has also varied sharply across reporting dates, so debt reduction and sustained cash conversion remain important measures of flexibility.
What is the NDAQ stock price today?
The last price recorded on this page for Nasdaq, Inc. (NDAQ) is $90.33, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the NDAQ price target?
The analyst consensus price target for Nasdaq, Inc. (NDAQ) is $110.71 (range $100.00 to $120.00, median $111.00), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
When are NDAQ's next earnings?
The next earnings date listed on this page for Nasdaq, Inc. (NDAQ) is Oct 20, 2026. Companies sometimes move report dates, so the company's own announcement is the final word on timing.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (81 figures)
The 81 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Sarah Youngwood (Jul 23, 2026): We maintain our 2026 non-GAAP tax rate guidance of 22.5% to 24.5%. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | NEW York, NY | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "151 West 42nd Street, New York City, NY, 10036, US". |
FMP — 68 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
px.last | Latest provided price | $90.33 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-05T00:24:35.210Z. | |
px.change | Change on the day | -1.46% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $50.5B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:00.000Z. Captured from FMP at 2026-10-05T00:24:33.555Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$1.34 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $2.53B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 26.03 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 3.37M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 0.97 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | Adena T. Friedman | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 9,630 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $5.89B, net result $1.19B; FY2022 revenue $6.23B, net result $1.13B; FY2023 revenue $6.06B, net result $1.06B; FY2024 revenue $7.40B, net result $1.12B; FY2025 revenue $8.22B, net result $1.79B | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Market Services $4.21B · Market Technology $1.85B · Capital Access Platforms $2.14B | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 59.4% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $2.53B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $512.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $877.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $2.14B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $561.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $657.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $2.08B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | −$155.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $630.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $1.96B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $105.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $586.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-07-23.revenue_actual | Revenue · reported — report date 2026-07-23 | $1.50B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-23.revenue_estimated | Revenue · estimate — report date 2026-07-23 | $1.46B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-23.eps_actual | EPS · reported — report date 2026-07-23 | $1.0700 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-23.eps_estimated | EPS · estimate — report date 2026-07-23 | $0.9840 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-23.revenue_actual | Revenue · reported — report date 2026-04-23 | $1.41B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-23.revenue_estimated | Revenue · estimate — report date 2026-04-23 | $1.37B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-23.eps_actual | EPS · reported — report date 2026-04-23 | $0.9600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-23.eps_estimated | EPS · estimate — report date 2026-04-23 | $0.9300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-29.revenue_actual | Revenue · reported — report date 2026-01-29 | $1.39B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-29.revenue_estimated | Revenue · estimate — report date 2026-01-29 | $1.37B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-29.eps_actual | EPS · reported — report date 2026-01-29 | $0.9600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-29.eps_estimated | EPS · estimate — report date 2026-01-29 | $0.9220 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-21.revenue_actual | Revenue · reported — report date 2025-10-21 | $1.96B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-21.revenue_estimated | Revenue · estimate — report date 2025-10-21 | $1.30B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-21.eps_actual | EPS · reported — report date 2025-10-21 | $0.8800 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-21.eps_estimated | EPS · estimate — report date 2025-10-21 | $0.8520 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $2.79B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $711.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $0.00 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $9.24B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 4.25× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $711.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $689.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$77.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$60.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $625.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$89.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $221.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$69.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $100.00 – $120.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $110.71 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $111.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 31 transactions · 1 purchases, 17 sales, 13 other transactions · 18 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Sep 22, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 83.9% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 82.6% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 1,116 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 1,135 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Investor Ab — shares in provider snapshot | 58,439,208 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Blackrock, INC. — shares in provider snapshot | 37,194,072 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Vanguard Capital Management LLC — shares in provider snapshot | 31,225,614 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Wellington Management Group Llp — shares in provider snapshot | 30,332,286 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 26,091,520 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 3 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Oct 20, 2026 | UNRECORDED | Stored earnings-calendar observation — Captured 2026-08-18 | |
earn.history | Reported versus estimated, recent quarters | EPS beat 8 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-03 · Expired observation | |
px.range52 | 52-week range | $76.55 – $101.79 | UNRECORDED | Stored company-profile observation — Captured 2026-10-03 |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 18.12× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $2.79B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $1.16 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-05, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 1.28% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-07-23.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($1.50B) with the recorded estimate ($1.46B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-07-23.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($1.0700) with the recorded estimate ($0.9840) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 3 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 77 of 100 · Strong · pillars 95 / 51 / 32 / 60 / 67 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.valuation_driver | Recorded valuation score driver | Price relative to book value is the main valuation drag relative to sector peers. | OURS | Stock Expert AI MoonshotScore v2 engine · stored factor contributions | |
ours.moonshot_change | MoonshotScore movement | 80 (stored snapshot Oct 4, 2026) → 77 (current publication computed Oct 5, 2026) (-3) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-07-23. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-07-23.revenue_actual,earn.history.depth.2026-07-23.revenue_estimated,earn.history.depth.2026-07-23.revenue_actual.comparison,earn.history.depth.2026-07-23.eps_actual.comparison,earn.history.depth.2026-07-23.eps_actual,earn.history.depth.2026-07-23.eps_estimated,earn.history.depth.2026-04-23.revenue_actual,earn.history.depth.2026-04-23.revenue_estimated,earn.history.depth.2026-04-23.eps_actual,earn.history.depth.2026-04-23.eps_estimated,earn.history.depth.2026-01-29.revenue_actual,earn.history.depth.2026-01-29.revenue_estimated,earn.history.depth.2026-01-29.eps_actual,earn.history.depth.2026-01-29.eps_estimated,earn.history.depth.2025-10-21.revenue_actual,earn.history.depth.2025-10-21.revenue_estimated,earn.history.depth.2025-10-21.eps_actual,earn.history.depth.2025-10-21.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-12
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | Nasdaq, Inc., a technology powerhouse founded in 1971 and based in New York City, is dedicated to supporting capital markets and various other sectors worldwide. Its Market Technology division specializes in fighting financial crime, offering products like Nasdaq Trade Surveillance, a SaaS solution that assists brokers and market participants in meeting compliance requirements and internal surveillance policies. This segment also provides Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool, and Verafin, a SaaS provider for anti-financial crime management. Furthermore, this division handles a wide array of assets, including cash equities, equity derivatives, global currencies, interest-bearing securities, commodities, energy resources, and digital currencies. The Investment Intelligence segment is responsible for distributing both historical and live market data, creating and licensing Nasdaq-branded financial indexes and products, and delivering valuable investment insights and workflow solutions. Through its Corporate Platforms, Nasdaq manages operational listing venues and furnishes specialized intelligence for investor relations, alongside comprehensive governance services. The Market Services segment covers a broad spectrum of operations, including the trading and clearing of equity derivatives, cash equities, fixed income, and commodities, in addition to providing trade management services. This division operates numerous exchanges and marketplace facilities that accommodate diverse asset classes such as derivatives, commodities, cash equity, debt, structured products, and exchange-traded products, while also offering crucial broker, clearing, settlement, and central depository functionalities. As of December 31, 2021, The Nasdaq Stock Market proudly listed 4,178 companies, specifically 1,632 on The Nasdaq Global Select Market, 1,169 on The Nasdaq Global Market, and 1,377 on The Nasdaq Capital Market. The company adopted its current name, Nasdaq, Inc., in September 2015, having previously been known as The NASDAQ OMX Group, Inc. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Market Services: $4.21B; Market Technology: $1.85B; Capital Access Platforms: $2.14B | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Cash, investments and debt | Total debt: $9.24B; Liquidity basis: cash and short-term investments; Total liabilities: $15.35B; Cash and short-term investments: $2.79B; Cash and investments: $2.79B; Long-term investments: $0; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Sector / industry (provider taxonomy) | Financial Services / Financial - Data & Stock Exchanges The company's SEC filings classify it under SIC 6200 — Security & Commodity Brokers, Dealers, Exchanges & Services. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-07-23 | FMP | Financial Modeling Prep (FMP) earnings |
| Management outlook — dated call excerpts | Captured record · 1 entry
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-07-23 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Most recent periodic reports | 2026-07-23 | OFFICIAL | SEC EDGAR filer submissions | |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $2.79B; Cash and short-term investments: $2.79B; Long-term investments: $0; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$6.46B; Total debt: $9.24B; Cash and investments: $2.79B Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 0.48; Current ratio: 0.48; Debt to equity: 0.77; Net margin: 22.6%; Gross margin: 59.4%; Operating margin: 31.6%; Return on assets: 7.2%; Return on equity: 16.3% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Distress and quality screens | Altman Z-score: 3.06; Piotroski F-score: 8 Altman Z below 1.8 is the conventional distress zone. For a company holding large cash against negative retained earnings the score mostly reflects the retained-earnings term. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) financial scores |
| Next earnings report | Date: 2026-10-20; EPS estimate: $1.02 per share; Revenue estimate: $1.47B The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
Data provided for informational purposes only.