Nasdaq Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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	1,911	1,787	1,115	1,057	1,123	1,187
Depreciation & Amortization	641	632	613	323	258	278
Stock-Based Compensation	168	165	141	122	106	90
Other Adjustments	-150	-75	-6	133	51	-3
Change in Receivables	-30.5	91	-193	3	-101	-6
Changes in Accounts Payable	-22	-6	-60	149	19	-17
Changes in Accrued Expenses	6	25	34	13	-	28
Changes in Unearned Revenue	123	69	67	88	16	106
Changes in Other Operating Activities	-381	-414	198	-214	234	-580
Operating Cash Flow	2,281	2,255	1,939	1,696	1,706	1,083
Operating Cash Flow Growth	10.09%	16.30%	14.33%	-0.59%	57.53%	-13.50%
Capital Expenditures	-277	-266	-207	-158	-152	-163
Purchases of Investments	-304	-243	-206	-712	-322	-316
Proceeds from Sale of Investments	330	427	199	719	320	285
Payments for Business Acquisitions	-	-	-	-5,766	-41	-2,430
Proceeds from Business Divestments	114	140	-	-	-	190
Other Investing Activities	16	-1,158	-739	-77	244	-219
Investing Cash Flow	-95	-1,100	-953	-5,994	49	-2,653
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	-569	-826	-521	-260	-1,097	-804
Net Long-Term Debt Issued (Repaid)	-569	-826	-521	5,348	-556	22
Issuance of Common Stock	29	-	-	-	-	26
Repurchase of Common Stock	-1,049	-616	-145	-269	-633	-943
Net Common Stock Issued (Repurchased)	-1,020	-616	-145	-269	-633	-917
Common Dividends Paid	-616	-601	-541	-441	-383	-350
Other Financing Activities	-3,835	-910	-1,063	-47	2,370	2,243
Financing Cash Flow	-6,054	-2,953	-2,561	4,220	1,036	1,418
Effect of Exchange Rate Changes on Cash and Cash Equivalents	273	726	-537	202	-1,293	-331
Net Cash Flow	-3,595	-1,072	-2,112	124	1,498	-483
Free Cash Flow	2,004	1,989	1,732	1,538	1,554	920
Free Cash Flow Growth	0.75%	14.84%	12.61%	-1.03%	68.91%	-13.53%
FCF Margin	24.12%	24.07%	23.41%	25.36%	24.96%	15.63%
Free Cash Flow Per Share	3.48	3.44	2.99	3.03	3.12	1.82
Levered Free Cash Flow	914	1,002	950	6,237	1,182	1,281
Unlevered Free Cash Flow	2,089	1,982	2,029	1,392	1,566	767.04

SEC Filings: 10-K · 10-Q