Nasdaq, Inc. (NDAQ)

Nasdaq Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Revenue	8,157	7,364	6,025	6,178	5,809
Other Revenue	61	36	39	48	77
Revenue	8,218	7,400	6,064	6,226	5,886
Revenue Growth (YoY)	11.05%	22.03%	-2.60%	5.78%	4.64%
Cost of Revenue	2,969	2,751	2,169	2,644	2,466
Gross Profit	5,249	4,649	3,895	3,582	3,420
Selling, General & Admin	2,132	2,032	1,732	1,630	1,519
Operating Expenses	2,764	2,645	2,055	1,888	1,797
Operating Income	2,485	2,004	1,840	1,694	1,623
Interest Expense	-367	-414	-284	-129	-125
Interest & Investment Income	39	28	115	7	1
Earnings From Equity Investments	83	16	-7	31	52
Other Non Operating Income (Expenses)	47	-55	-34	-33	-64
EBT Excluding Unusual Items	2,287	1,579	1,630	1,570	1,487
Merger & Restructuring Charges	-102	-151	-228	-97	-118
Gain (Loss) on Sale of Investments	-40	21	-1	2	81
Gain (Loss) on Sale of Assets	-	-	-	-	84
Pretax Income	2,145	1,449	1,401	1,475	1,534
Income Tax Expense	358	334	344	352	347
Earnings From Continuing Operations	1,787	1,115	1,057	1,123	1,187
Minority Interest in Earnings	1	2	2	2	-
Net Income	1,788	1,117	1,059	1,125	1,187
Net Income to Common	1,788	1,117	1,059	1,125	1,187
Net Income Growth	60.07%	5.48%	-5.87%	-5.22%	27.22%
Shares Outstanding (Basic)	573	575	505	492	498
Shares Outstanding (Diluted)	579	579	508	498	505
Shares Change (YoY)	-0.10%	13.93%	2.12%	-1.43%	0.87%
EPS (Basic)	3.12	1.94	2.10	2.28	2.38
EPS (Diluted)	3.09	1.93	2.08	2.26	2.35
EPS Growth	60.10%	-7.21%	-7.96%	-3.83%	26.34%
Free Cash Flow	-	1,732	1,538	1,554	920
Free Cash Flow Per Share	-	2.99	3.02	3.12	1.82
Dividend Per Share	1.050	0.940	0.860	0.780	0.700
Dividend Growth	11.70%	9.30%	10.26%	11.43%	7.69%
Gross Margin	63.87%	62.82%	64.23%	57.53%	58.10%
Operating Margin	30.24%	27.08%	30.34%	27.21%	27.57%
Profit Margin	21.76%	15.10%	17.46%	18.07%	20.17%
Free Cash Flow Margin	-	23.41%	25.36%	24.96%	15.63%
EBITDA	3,113	2,617	2,163	1,952	1,901
EBITDA Margin	37.88%	35.37%	35.67%	31.35%	32.30%
D&A For EBITDA	628	613	323	258	278
EBIT	2,485	2,004	1,840	1,694	1,623
EBIT Margin	30.24%	27.08%	30.34%	27.21%	27.57%
Effective Tax Rate	16.69%	23.05%	24.55%	23.86%	22.62%
Revenue as Reported	8,218	7,400	6,064	6,226	5,886

Updated Jan 29, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q