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NDAQ

Nasdaq Inc

US$90.33-1.46% (-US$1.34)
Day's range
US$89.67 – US$92.27
Day's volume
US$303.6m
52-week range
US$76.59 – US$99.96

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See how NDAQ weighs in your net worth, what it has paid you and how far it is from your target allocation.

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NDAQ in numbers

Market cap
US$50.5bn
P/E
25.67
P/B
4.21
Dividend yield (12m)
1.28%
Net debt/EBITDA
3.00

The 12-month dividend yield of NDAQ is 1.28%, above its 5-year average of 1.21%.

NDAQ price history

03/10/202502/10/2026
Compare with

NDAQ risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+0.66%+68.43%+42.84%
Volatility (annualised)30.87%24.80%25.92%
Largest drawdown-18.30%-18.30%-28.78%
Positive months5/1220/3630/60

How much did investing in NDAQ return?

US$1,000.00 invested on 01/11/2021 would be worth US$1,428.40 today.

Value today in NDAQ
US$1,428.40
Return over the period
+42.84%
Return per year
+7.52%
In the S&P 500
US$1,690.98

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

NDAQ fundamentals

Valuation

  • P/E
    25.67
  • P/B
    4.21
  • EV/EBITDA
    21.39
  • EV/EBIT
    22.73
  • EV/Revenue
    6.71
  • P/EBIT
    19.54
  • P/S
    5.77
  • P/OCF
    22.48
  • P/FCF
    25.88
  • Earnings yield
    4.40%
  • PEG ratio
    —
  • Earnings per share
    US$3.52
  • Book value per share
    US$21.45

Debt

  • Net debt
    US$8.2bn
  • Net debt/EBITDA
    3.00
  • Net debt/Equity
    0.69
  • Debt/Equity
    0.73
  • Current ratio
    1.01
  • Quick ratio
    —
  • Cash ratio
    0.12

Efficiency

  • Gross margin
    64.15%
  • EBITDA margin
    31.38%
  • Operating margin
    29.53%
  • Net margin
    22.48%
  • Asset turnover
    0.32

Profitability

  • ROE
    16.41%
  • ROA
    7.19%
  • ROIC
    10.30%
  • Payout
    32.96%

Growth

  • Revenue CAGR (5 years)
    8.06%
  • Earnings CAGR (5 years)
    11.76%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is NDAQ's fair price?

Two classic value formulas, with today's numbers. The current price is US$90.33.

Graham's fair price
US$41.21
54.38% below the price

√(22.50 × US$3.52 × US$21.45)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$14.44
84.01% below the price

US$0.87 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

NDAQ indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E30.8839.8131.5826.6729.0923.4522.8329.46
P/B4.523.973.094.885.403.403.132.48
EV/EBITDA25.6928.0025.9220.9126.1218.9618.4815.16
Dividend yield1.08%1.22%1.48%1.27%1.00%1.46%1.73%2.08%
Earnings per shareUS$3.15US$1.94US$1.84US$2.30US$7.22US$5.66US$4.69US$2.77
Book value per shareUS$21.51US$19.46US$18.80US$12.58US$38.90US$39.04US$34.17US$32.94
ROE14.62%9.98%9.79%18.29%18.56%14.50%13.73%8.41%
ROIC9.41%6.72%5.59%10.78%9.04%9.67%9.20%4.88%
Gross margin63.53%62.82%64.23%57.53%58.10%51.61%59.53%59.06%
EBITDA margin29.97%25.99%27.95%26.81%26.32%23.70%25.97%26.40%
Net margin21.64%15.09%17.46%18.07%20.17%16.59%18.18%10.71%
Net debt/EBITDA3.394.886.192.933.832.552.503.20

NDAQ financial statements

Line202520242023202220212020
Net revenueUS$8.3bnUS$7.4bnUS$6.1bnUS$6.2bnUS$5.9bnUS$5.6bn
Cost of sales-US$3bn-US$2.8bn-US$2.2bn-US$2.6bn-US$2.5bn-US$2.7bn
Gross profitUS$5.2bnUS$4.6bnUS$3.9bnUS$3.6bnUS$3.4bnUS$2.9bn
EBITDAUS$2.5bnUS$1.9bnUS$1.7bnUS$1.7bnUS$1.5bnUS$1.3bn
EBITUS$2.3bnUS$1.8bnUS$1.6bnUS$1.6bnUS$1.4bnUS$1.2bn
Net finance result——————
Profit before taxUS$2.1bnUS$1.4bnUS$1.4bnUS$1.5bnUS$1.5bnUS$1.2bn
Income tax-US$358m-US$334m-US$344m-US$352m-US$347m-US$279m
Net incomeUS$1.8bnUS$1.1bnUS$1.1bnUS$1.1bnUS$1.2bnUS$933m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does NDAQ pay dividends?

Dividend yield per year

  • 1.90%2017
  • 2.08%2018
  • 1.73%2019
  • 1.46%2020
  • 1.00%2021
  • 1.27%2022
  • 1.48%2023
  • 1.22%2024
  • 1.08%2025
  • 0.99%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend10/09/202625/09/2026US$0.31
Dividend11/06/202626/06/2026US$0.31
Dividend13/03/202630/03/2026US$0.27
Dividend04/12/202519/12/2025US$0.27
Dividend11/09/202526/09/2025US$0.27
Dividend12/06/202527/06/2025US$0.27
Dividend13/03/202528/03/2025US$0.24
Dividend05/12/202420/12/2024US$0.24
Dividend12/09/202427/09/2024US$0.24
Dividend13/06/202428/06/2024US$0.24
Dividend12/03/202428/03/2024US$0.22
Dividend06/12/202322/12/2023US$0.22
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend13/09/202329/09/2023US$0.22
Dividend14/06/202330/06/2023US$0.22
Dividend15/03/202331/03/2023US$0.20
Dividend30/11/202216/12/2022US$0.20
Dividend14/09/202230/09/2022US$0.20
Dividend08/06/202224/06/2022US$0.20
Dividend09/03/202225/03/2022US$0.18
Dividend01/12/202117/12/2021US$0.18
Dividend08/09/202124/09/2021US$0.18
Dividend09/06/202125/06/2021US$0.18
Dividend10/03/202126/03/2021US$0.16
Dividend02/12/202018/12/2020US$0.16
Dividend09/09/202025/09/2020US$0.16
Dividend10/06/202026/06/2020US$0.16
Dividend11/03/202027/03/2020US$0.16
Dividend11/12/201927/12/2019US$0.16
Dividend11/09/201927/09/2019US$0.16
Dividend12/06/201928/06/2019US$0.16
Dividend13/03/201929/03/2019US$0.15
Dividend12/12/201828/12/2018US$0.15
Dividend12/09/201828/09/2018US$0.15
Dividend13/06/201829/06/2018US$0.15
Dividend14/03/201830/03/2018US$0.13
Dividend13/12/201729/12/2017US$0.13
Dividend13/09/201729/09/2017US$0.13
Dividend13/06/201730/06/2017US$0.13
Dividend14/03/201731/03/2017US$0.11
Dividend13/12/201630/12/2016US$0.11

About Nasdaq

Sector
Finance, insurance and real estate

Questions about NDAQ

How much is NDAQ today?

NDAQ is at US$90.33 (-1.46% on the day), last traded on 02/10/2026.

How much did NDAQ pay in dividends in 2025?

NDAQ paid US$1.05 per share in 2025, a dividend yield of 1.08%.

What are the P/E and P/B of NDAQ?

NDAQ trades at a P/E of 25.67 and a P/B of 4.21.

How much did NDAQ return in 12 months?

NDAQ returned 0.66% in 12 months, with annualised volatility of 30.87% and a largest drawdown of -18.30%.