Nasdaq, Inc. (NDAQ)
NASDAQ: NDAQ · Real-Time Price · USD
94.19
-0.97 (-1.02%)
At close: Jul 31, 2026, 4:00 PM EDT
94.82
+0.63 (0.67%)
After-hours: Jul 31, 2026, 7:39 PM EDT
Nasdaq Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 1,967 | 1,787 | 1,115 | 1,057 | 1,123 | 1,187 |
Depreciation & Amortization | 650 | 632 | 613 | 323 | 258 | 278 |
Stock-Based Compensation | 171 | 165 | 141 | 122 | 106 | 90 |
Other Adjustments | -113 | -75 | -6 | 133 | 51 | -3 |
Change in Receivables | -103 | 91 | -193 | 3 | -101 | -6 |
Changes in Accounts Payable | -3 | -6 | -60 | 149 | 19 | -17 |
Changes in Accrued Expenses | -32 | 25 | 34 | 13 | - | 28 |
Changes in Unearned Revenue | 104 | 69 | 67 | 88 | 16 | 106 |
Changes in Other Operating Activities | -210 | -414 | 198 | -214 | 234 | -580 |
Operating Cash Flow | 2,246 | 2,255 | 1,939 | 1,696 | 1,706 | 1,083 |
Operating Cash Flow Growth | -4.75% | 16.30% | 14.33% | -0.59% | 57.53% | -13.50% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -295 | -266 | -207 | -158 | -152 | -163 |
Purchases of Investments | -542 | -243 | -206 | -712 | -322 | -316 |
Proceeds from Sale of Investments | 424 | 427 | 199 | 719 | 320 | 285 |
Cash Acquisitions | - | - | - | -5,766 | -41 | -2,430 |
Proceeds from Business Divestments | 88 | 140 | - | - | - | 190 |
Other Investing Activities | -246 | -1,158 | -739 | -77 | 244 | -219 |
Investing Cash Flow | -482 | -1,100 | -953 | -5,994 | 49 | -2,653 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | -291 | -371 | 238 | 420 |
Net Short-Term Debt Issued (Repaid) | - | - | -291 | -371 | 238 | 420 |
Long-Term Debt Issued | - | - | - | 5,608 | 541 | 826 |
Long-Term Debt Repaid | -600 | -826 | -521 | -260 | -1,097 | -804 |
Net Long-Term Debt Issued (Repaid) | -600 | -826 | -521 | 5,348 | -556 | 22 |
Issuance of Common Stock | 15 | - | - | - | - | 26 |
Repurchase of Common Stock | -1,304 | -616 | -145 | -269 | -633 | -943 |
Net Common Stock Issued (Repurchased) | -1,289 | -616 | -145 | -269 | -633 | -917 |
Common Dividends Paid | -635 | -601 | -541 | -441 | -383 | -350 |
Other Financing Activities | -2,924 | -910 | -1,063 | -47 | 2,370 | 2,243 |
Financing Cash Flow | -5,175 | -2,953 | -2,561 | 4,220 | 1,036 | 1,418 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 10 | 726 | -537 | 202 | -1,293 | -331 |
Net Cash Flow | -3,401 | -1,072 | -2,112 | 124 | 1,498 | -483 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 1,951 | 1,989 | 1,732 | 1,538 | 1,554 | 920 |
Free Cash Flow Growth | -8.58% | 14.84% | 12.61% | -1.03% | 68.91% | -13.53% |
FCF Margin | 22.29% | 24.07% | 23.41% | 25.36% | 24.96% | 15.63% |
Free Cash Flow Per Share | 3.40 | 3.44 | 2.99 | 3.03 | 3.12 | 1.82 |
Levered Free Cash Flow | 1,581 | 1,002 | 950 | 6,237 | 1,182 | 1,281 |
Unlevered Free Cash Flow | 2,298 | 1,982 | 2,029 | 1,392 | 1,566 | 767.04 |