Nasdaq, Inc. (NDAQ)

Nasdaq Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	8,132	7,364	6,025	6,178	5,809	5,582
Other Revenue	36	36	39	48	77	43
Revenue	8,168	7,400	6,064	6,226	5,886	5,625
Revenue Growth (YoY)	16.39%	22.03%	-2.60%	5.78%	4.64%	32.10%
Cost of Revenue	3,084	2,751	2,169	2,644	2,466	2,722
Gross Profit	5,084	4,649	3,895	3,582	3,420	2,903
Selling, General & Admin	2,096	2,032	1,732	1,630	1,519	1,356
Operating Expenses	2,720	2,645	2,055	1,888	1,797	1,558
Operating Income	2,364	2,004	1,840	1,694	1,623	1,345
Interest Expense	-380	-414	-284	-129	-125	-101
Interest & Investment Income	40	28	115	7	1	4
Earnings From Equity Investments	82	16	-7	31	52	70
Other Non Operating Income (Expenses)	-60	-55	-34	-33	-64	-19
EBT Excluding Unusual Items	2,046	1,579	1,630	1,570	1,487	1,299
Merger & Restructuring Charges	-105	-151	-228	-97	-118	-81
Gain (Loss) on Sale of Investments	7	21	-1	2	81	-
Gain (Loss) on Sale of Assets	37	-	-	-	84	-
Other Unusual Items	19	-	-	-	-	-6
Pretax Income	2,004	1,449	1,401	1,475	1,534	1,212
Income Tax Expense	380	334	344	352	347	279
Earnings From Continuing Operations	1,624	1,115	1,057	1,123	1,187	933
Minority Interest in Earnings	1	2	2	2	-	-
Net Income	1,625	1,117	1,059	1,125	1,187	933
Net Income to Common	1,625	1,117	1,059	1,125	1,187	933
Net Income Growth	69.45%	5.48%	-5.87%	-5.22%	27.22%	20.54%
Shares Outstanding (Basic)	574	575	505	492	498	493
Shares Outstanding (Diluted)	579	579	508	498	505	501
Shares Change (YoY)	1.30%	13.93%	2.12%	-1.43%	0.87%	-0.04%
EPS (Basic)	2.83	1.94	2.10	2.28	2.38	1.89
EPS (Diluted)	2.80	1.93	2.08	2.26	2.35	1.86
EPS Growth	66.50%	-7.21%	-7.96%	-3.83%	26.34%	20.52%
Free Cash Flow	-	1,732	1,538	1,554	920	1,064
Free Cash Flow Per Share	-	2.99	3.02	3.12	1.82	2.13
Dividend Per Share	1.020	0.940	0.860	0.780	0.700	0.650
Dividend Growth	10.87%	9.30%	10.26%	11.43%	7.69%	5.40%
Gross Margin	62.24%	62.82%	64.23%	57.53%	58.10%	51.61%
Operating Margin	28.94%	27.08%	30.34%	27.21%	27.57%	23.91%
Profit Margin	19.89%	15.10%	17.46%	18.07%	20.17%	16.59%
Free Cash Flow Margin	-	23.41%	25.36%	24.96%	15.63%	18.92%
EBITDA	2,988	2,617	2,163	1,952	1,901	1,547
EBITDA Margin	36.58%	35.37%	35.67%	31.35%	32.30%	27.50%
D&A For EBITDA	624	613	323	258	278	202
EBIT	2,364	2,004	1,840	1,694	1,623	1,345
EBIT Margin	28.94%	27.08%	30.34%	27.21%	27.57%	23.91%
Effective Tax Rate	18.96%	23.05%	24.55%	23.86%	22.62%	23.02%
Revenue as Reported	8,168	7,400	6,064	6,226	5,886	5,625

Updated Oct 21, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q