Nasdaq, Inc. (NDAQ)
NASDAQ: NDAQ · Real-Time Price · USD
86.27
+0.83 (0.97%)
Mar 19, 2026, 4:00 PM EDT - Market closed
Nasdaq Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 |
Net Income | 518 | 423 | 451 | 395 | 355 | 305 | 222 | 233 | 196 | 294 | 266 | 301 | 240 | 294 | 306 | 283 | 259 | 289 | 341 | 298 |
Depreciation & Amortization | 161 | 158 | 157 | 156 | 153 | 152 | 153 | 155 | 125 | 64 | 65 | 69 | 63 | 63 | 65 | 67 | 81 | 66 | 68 | 63 |
Stock-Based Compensation | 43 | 41 | 46 | 35 | 36 | 36 | 39 | 30 | 32 | 30 | 34 | 26 | 30 | 27 | 24 | 25 | 24 | 23 | 24 | 19 |
Other Adjustments | 6 | 17.5 | -34.5 | -32 | -14 | 5 | -38 | 22 | 31 | 26 | 59 | 26 | 34 | -23 | 13 | 19 | 71 | 65 | -27 | -34 |
Change in Receivables | -81 | 27 | 97 | 48 | -94 | -43 | -39 | -17 | -72 | 3 | 62 | 10 | -32 | 6 | -36 | -39 | -38 | 8 | 18 | 6 |
Changes in Accounts Payable | 16 | 8 | -13 | -17 | -17 | -2 | 32 | -73 | 39 | 96 | 24 | -10 | -8 | 21 | -2 | 8 | -13 | 5 | -21 | 12 |
Changes in Accrued Expenses | 50 | 35 | 74 | -134 | 23 | 97 | 24 | -110 | 41 | 57 | 1 | -86 | 33 | 50 | -1 | -82 | 33 | 51 | -4 | -52 |
Changes in Unearned Revenue | 79 | -128 | -139 | 257 | 59 | -136 | -130 | 274 | -2 | -99 | -111 | 300 | -70 | -109 | -97 | 292 | -32 | -57 | -60 | 255 |
Changes in Other Operating Activities | -353.5 | -348 | 127 | -45 | 201 | -202 | 183 | 16 | 27 | -171 | 1 | -71 | 204 | -114 | 95 | 32 | 35 | -218 | -224 | -173 |
Operating Cash Flow | 625 | 221 | 746 | 663 | 705 | 244 | 460 | 530 | 417 | 300 | 414 | 565 | 494 | 232 | 375 | 605 | 384 | 232 | 73 | 394 |
Operating Cash Flow Growth | -11.35% | -9.43% | 62.17% | 25.09% | 69.06% | -18.67% | 11.11% | -6.19% | -15.59% | 29.31% | 10.40% | -6.61% | 28.65% | - | 413.70% | 53.55% | -11.72% | - | -83.45% | 3.68% |
Capital Expenditures | -89 | -69 | -59 | -49 | -60 | -56 | -52 | -39 | -42 | -37 | -39 | -40 | -34 | -41 | -42 | -35 | -50 | -32 | -39 | -42 |
Purchases of Investments | -9 | -34 | -95 | -105 | -54 | -38 | -74 | -40 | -182 | -119 | -213 | -198 | -59 | -62 | -99 | -102 | -47 | -62 | -147 | -60 |
Proceeds from Sale of Investments | 35 | 67 | 220 | 105 | 58 | 22 | 75 | 44 | 292 | 131 | 112 | 184 | 15 | 83 | 146 | 76 | 19 | 106 | 132 | 28 |
Payments for Business Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -20.5 | - | - | - | -1,215 | -2,430 |
Proceeds from Business Divestments | 88 | 44 | 26 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 95 | - |
Other Investing Activities | -663 | -109 | -177 | -209 | -952 | 145 | 265 | -197 | -142 | 159 | -19 | -79 | 152 | 239 | 182 | -329 | -43 | -19 | 39 | -196 |
Investing Cash Flow | -638 | -145 | -59 | -258 | -1,008 | 73 | 214 | -232 | -5,836 | 134 | -159 | -133 | 74 | 219 | 146 | -390 | -213 | -7 | 175 | -2,700 |
Short-Term Debt Issued | - | - | - | - | -25 | -50 | -174 | -67 | 291 | -138 | -207 | -317 | 459 | -220 | 419 | -420 | -60 | 259 | -214 | 435 |
Net Short-Term Debt Issued (Repaid) | - | - | - | - | -25 | -50 | -174 | -67 | 291 | -138 | -207 | -317 | 459 | -220 | 419 | -420 | -60 | 259 | -214 | 435 |
Long-Term Debt Issued | - | - | - | - | - | - | - | - | 597 | -5 | 2,508 | - | - | - | 270.5 | 541 | 363 | 726 | 50 | 100 |
Long-Term Debt Repaid | -100 | -69 | -400 | -257 | -181 | -90.5 | -170 | -340 | -260 | -130 | - | - | -598 | -299 | -249.5 | - | -352 | -704 | -50 | -100 |
Net Long-Term Debt Issued (Repaid) | -100 | -69 | -400 | -257 | -181 | -90.5 | -170 | -340 | 337 | -135 | 2,508 | - | -598 | -299 | 21 | 541 | 11 | 22 | - | - |
Issuance of Common Stock | - | - | 14 | - | - | - | 10.5 | - | - | - | 9 | - | - | -1 | 8.5 | - | 9 | 4.5 | 8.5 | - |
Repurchase of Common Stock | -286 | -115 | -100 | -115 | -43.5 | -87 | 80 | -138 | -110 | -55 | -79.5 | -159 | - | - | -328.5 | -467 | -295.5 | -504 | -248 | -162 |
Net Common Stock Issued (Repurchased) | -286 | -115 | -86 | -115 | -43.5 | -87 | 90.5 | -138 | -110 | -55 | -70.5 | -159 | - | -1 | -320 | -467 | -286.5 | -499.5 | -239.5 | -162 |
Common Dividends Paid | -153 | -155 | -155 | -138 | -138 | -138 | -138 | -127 | -127 | -108 | -108 | -98 | -98 | -99 | -97 | -89 | -90 | -91 | -88 | -81 |
Other Financing Activities | 0 | 498 | -834.5 | -573 | 316 | 71 | -109 | -1,341 | 799 | -1,145 | 321.5 | -39 | -3,009 | 1,892 | 2,669 | 803 | 1,812 | 682 | -240 | -28 |
Financing Cash Flow | -567 | 159 | -1,462 | -1,083 | -24 | -204 | -458 | -1,875 | 1,201 | -1,397 | 5,029 | -613 | -3,239 | 1,572 | 2,335 | 368 | 2,119 | 397 | -773 | 164 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 73 | 5 | 245 | 403 | -462 | 205 | 31 | -311 | 502 | -70 | -259 | 29 | 431 | -1,042 | -518 | -164 | -323 | -78 | 69 | -177 |
Net Cash Flow | -507 | 240 | -530 | -275 | -789 | 318 | 247 | -1,888 | -3,716 | -1,033 | 5,025 | -152 | -2,240 | 981 | 2,338 | 419 | 1,967 | 544 | -456 | -2,319 |
Free Cash Flow | 536 | 152 | 687 | 614 | 645 | 188 | 408 | 491 | 375 | 263 | 375 | 525 | 460 | 191 | 333 | 570 | 334 | 200 | 34 | 352 |
Free Cash Flow Growth | -16.90% | -19.15% | 68.38% | 25.05% | 72.00% | -28.52% | 8.80% | -6.48% | -18.48% | 37.70% | 12.61% | -7.90% | 37.72% | -4.50% | 879.41% | 61.93% | -10.93% | - | -91.48% | -0.56% |
FCF Margin | 25.24% | 7.76% | 32.87% | 29.38% | 31.77% | 9.88% | 22.77% | 29.33% | 22.77% | 18.13% | 26.17% | 34.25% | 29.08% | 12.27% | 21.46% | 37.13% | 22.77% | 14.74% | 2.41% | 21.32% |
Free Cash Flow Per Share | 0.93 | 0.26 | 1.19 | 1.06 | 1.11 | 0.32 | 0.70 | 0.85 | 0.68 | 0.53 | 0.76 | 1.06 | 0.93 | 0.38 | 0.67 | 1.14 | 0.66 | 0.39 | 0.07 | 0.70 |
Levered Free Cash Flow | 281.5 | 10 | 199 | 306 | 508 | 18.5 | 88 | 50 | 1,013 | -69 | 2,509 | 147 | 290 | -355 | 765 | 687 | 264 | 384 | -153 | 796 |
Unlevered Free Cash Flow | 425.26 | 124.58 | 615.5 | 610.76 | 777.08 | 236.82 | 485.38 | 529.19 | 436.88 | 234.08 | 243.65 | 475.16 | 448.12 | 176.31 | 336.6 | 588.46 | 337.75 | 91.36 | 2.41 | 338.37 |
Updated Jan 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.