Market Summary
USD53.07+0.58
Market Closed1.10%
NDAQ Alerts
NDAQ Stock Price
NDAQ RSI Chart
NDAQ Valuation
NDAQ Price/Sales (Trailing)
NDAQ Profitability
NDAQ Fundamentals
NDAQ Revenue
NDAQ Earnings
Price Action
52 Week Range
51.10194.37
(Low)(High)
Last 7 days
-0.1%
Last 30 days
-7.1%
Last 90 days
-13.4%
Trailing 12 Months
-69.5%
NDAQ Financial Health
NDAQ Investor Care
Peers (Alternatives to Nasdaq)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
CME | 65.8B | 5.0B | -1.84% | -24.68% | 24.47 | 13.12 | 7.03% | 2.07% |
ICE | 54.5B | 9.6B | -6.52% | -27.55% | 37.69 | 5.66 | 5.10% | -64.37% |
NDAQ | 26.1B | 6.2B | -7.06% | -69.49% | 23.19 | 4.19 | 5.78% | -5.22% |
TROW | 24.5B | 6.5B | -2.30% | -25.47% | 12.06 | 3.54 | -15.43% | -49.47% |
CBOE | 13.7B | 4.0B | 0.79% | 14.20% | 58.29 | 3.46 | 13.27% | -55.58% |
| MID-CAP | ||||||||
IBKR | 7.8B | 2.7B | -10.58% | 16.00% | 4.26 | 2.92 | 95.77% | 12.59% |
SEIC | 7.4B | 2.0B | -8.39% | -8.44% | 15.46 | 3.69 | 3.79% | -13.01% |
SF | 6.2B | 4.6B | -14.56% | -20.26% | 9.32 | 1.34 | -3.98% | -19.72% |
SNEX | 2.0B | 64.7B | -3.72% | 25.59% | 8.24 | 0.03 | 35.87% | 74.73% |
| SMALL-CAP | ||||||||
BGCP | 1.9B | 1.8B | 18.31% | 10.45% | 38.4 | 1.04 | 16.43% | -60.72% |
VIRT | 1.8B | 2.4B | -10.24% | -52.58% | 6.67 | 0.75 | -15.89% | -44.42% |
COWN | 1.1B | 1.5B | 0.39% | 32.10% | 14.3 | 0.71 | -27.22% | -74.14% |
AC | 810.8M | 10.3M | 2.36% | -10.12% | -15.26 | 78.78 | -29.47% | -152.67% |
WETF | 742.8M | 301.3M | 9.41% | -21.41% | 14.66 | 2.47 | -0.98% | 1.78% |
OPY | 420.2M | 1.1B | -14.10% | -10.79% | 12.99 | 0.38 | -20.31% | -79.65% |
Financials for Nasdaq
| Income Statement (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Revenue | 1.9% | 6,226 | 6,111 | 5,911 | 5,771 | 5,886 |
| Gross Profit | 0.6% | 3,582 | 3,561 | 3,509 | 3,462 | 3,420 |
| Operating Expenses | 0.8% | 2,018 | 2,002 | 1,992 | 1,981 | 1,979 |
| S&GA Expenses | 11.6% | 125 | 112 | 116 | 94.00 | 85.00 |
| EBITDA | -0.4% | 1,862 | 1,869 | 1,863 | 1,924 | - |
| EBITDA Margin | -2.2% | 0.30* | 0.31* | 0.32* | 0.33* | - |
| Earnings Before Taxes | 0.5% | 1,475 | 1,467 | 1,456 | 1,513 | 1,534 |
| EBT Margin | -1.3% | 0.24* | 0.24* | 0.25* | 0.26* | - |
| Interest Expenses | 2.4% | 129 | 126 | 127 | 128 | 125 |
| Net Income | -1.7% | 1,125 | 1,144 | 1,138 | 1,172 | 1,187 |
| Net Income Margin | -3.5% | 0.18* | 0.19* | 0.19* | 0.20* | - |
| Free Cahsflow | 8.8% | 1,554 | 1,428 | 1,437 | 1,138 | - |
| Balance Sheet | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Assets | -9.0% | 20,868 | 22,941 | 22,596 | 20,823 | 20,115 |
| Current Assets | -20.7% | 8,604 | 10,851 | 10,218 | 8,178 | 7,423 |
| Cash Equivalents | 66.8% | 502 | 301 | 454 | 486 | 393 |
| Net PPE | 2.7% | 532 | 518 | 514 | 511 | 509 |
| Goodwill | 1.9% | 8,099 | 7,946 | 8,151 | 8,338 | 8,433 |
| Liabilities | -13.8% | 14,704 | 17,057 | 16,745 | 14,801 | 13,710 |
| Current Liabilities | -22.1% | 8,835 | 11,335 | 10,871 | 8,851 | 7,872 |
| LT Debt, Non Current | 3.5% | 4,735 | 4,573 | 4,696 | 4,800 | 4,812 |
| Shareholder's Equity | 4.7% | 6,151 | 5,875 | 5,842 | 6,013 | 6,395 |
| Retained Earnings | 2.0% | 7,207 | 7,064 | 6,869 | 6,660 | 6,465 |
| Additional Paid-In Capital | 2.6% | 1,445 | 1,408 | 1,385 | 1,510 | 1,949 |
| Shares Outstanding | 0.1% | 492 | 491 | 491 | 493 | 500 |
| Minority Interest | 44.4% | 13.00 | 9.00 | 9.00 | 9.00 | 10.00 |
| Cashflow (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Cashflow From Operations | 6.9% | 1,706 | 1,596 | 1,596 | 1,294 | 1,083 |
| Share Based Compensation | 6.0% | 106 | 100 | 96.00 | 96.00 | 90.00 |
| Cashflow From Investing | 133.6% | 49.00 | -146 | -372 | -343 | -2,653 |
| Cashflow From Financing | -82.5% | 1,036 | 5,905 | 4,730 | 1,622 | 1,418 |
| Dividend Payments | 2.1% | 383 | 375 | 367 | 358 | 350 |
Risks for NDAQ
What is the probability of a big loss on NDAQ?
40.4%
Probability that Nasdaq stock will be more than 20% underwater in next one year
35.8%
Probability that Nasdaq stock will be more than 30% underwater in next one year.
11.9%
Probability that Nasdaq stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does NDAQ drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Nasdaq was unfortunately bought at previous high price.
Drawdowns
Returns for NDAQ
Cumulative Returns on NDAQ
6.7%
10-Year Cumulative Returns
-1.1%
7-Year Cumulative Returns
-6.8%
5-Year Cumulative Returns
-13.0%
3-Year Cumulative Returns
What are the long-term rolling returns for NDAQ?
FIve years rolling returns for Nasdaq.
Annualized Returns
Which funds bought or sold NDAQ recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-03-10 | VICTORY CAPITAL MANAGEMENT INC | added | 19.92 | 2,701,210 | 11,765,200 | 0.01% |
2023-03-06 | Rockefeller Capital Management L.P. | added | 18.53 | 88,000 | 393,000 | -% |
2023-02-28 | Voya Investment Management LLC | added | 16.72 | 24,143,000 | 115,829,000 | 0.16% |
2023-02-27 | Parallax Volatility Advisers, L.P. | added | 58.23 | 1,279,310 | 3,074,310 | -% |
2023-02-24 | NATIXIS | added | 32.35 | 535,125 | 1,777,120 | 0.01% |
2023-02-24 | SRS Capital Advisors, Inc. | sold off | -100 | -2,000 | - | -% |
2023-02-24 | National Pension Service | reduced | -2.51 | 1,306,180 | 28,949,600 | 0.06% |
2023-02-22 | CVA Family Office, LLC | added | 29.17 | 2,509 | 9,509 | -% |
2023-02-22 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | unchanged | - | 148,000 | 1,947,000 | 0.02% |
2023-02-21 | Empirical Finance, LLC | added | 8.87 | 85,641 | 562,641 | 0.06% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
NDAQ Alerts
Nasdaq News
Schedule 13G FIlings of Nasdaq
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 13, 2023 | capital world investors | 3.3% | 16,206,884 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 8.69% | 42,696,652 | SC 13G/A | |
| Feb 08, 2023 | massachusetts financial services co /ma/ | 6.9% | 34,141,493 | SC 13G/A | |
| Feb 03, 2023 | blackrock inc. | 5.4% | 26,673,504 | SC 13G | |
| Dec 16, 2022 | investor ab | 11.8% | 58,182,426 | SC 13D/A | |
| Aug 26, 2022 | investor ab | 11.8% | 58,182,426 | SC 13D/A | |
| Jun 09, 2022 | blackrock inc. | 4.97% | 8,189,122 | SC 13G | |
| Feb 11, 2022 | capital world investors | 5.5% | 9,272,130 | SC 13G/A | |
| Feb 04, 2022 | blackrock inc. | 5.1% | 8,546,784 | SC 13G | |
| Feb 02, 2022 | massachusetts financial services co /ma/ | 6.7% | 11,150,926 | SC 13G/A |
NDAQ Fair Value
Nasdaq fair value in different scenarios
The table shows the Fair Value estimates for Nasdaq for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
| Fair Value | Very Pessimistic | Pessimistic | Base Case | Optimistic | Very Optimistic |
|---|---|---|---|---|---|
| Very Low Inflation | 35.33 -33.43% | 43.14 -18.71% | 57.19 7.76% | 74.18 39.78% | 95.06 79.12% |
| Current Inflation | 32.37 -39.01% | 38.95 -26.61% | 50.62 -4.62% | 64.73 21.97% | 82.12 54.74% |
| Very High Inflation | 28.74 -45.85% | 33.91 -36.10% | 42.91 -19.14% | 53.84 1.45% | 67.34 26.89% |
Historical Nasdaq Fair Value Estimates
Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price
Recent SEC filings of Nasdaq
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Mar 16, 2023 | 4 | Insider Trading | |
| Mar 02, 2023 | 4 | Insider Trading | |
| Feb 27, 2023 | 4 | Insider Trading | |
| Feb 27, 2023 | 4 | Insider Trading | |
| Feb 24, 2023 | 4 | Insider Trading | |
| Feb 24, 2023 | 4 | Insider Trading | |
| Feb 24, 2023 | 4 | Insider Trading | |
| Feb 24, 2023 | 4 | Insider Trading | |
| Feb 24, 2023 | 4 | Insider Trading | |
| Feb 24, 2023 | 4 | Insider Trading |
Latest Insider Trading transactions for NDAQ
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-03-14 | Smith Bryan Everard | sold | -262,550 | 52.51 | -5,000 | executive vice president |
2023-02-28 | Smith Bryan Everard | sold | -168,510 | 56.17 | -3,000 | executive vice president |
2023-02-23 | FRIEDMAN ADENA T | sold (taxes) | -13,423,900 | 57.2 | -234,683 | chair and ceo |
2023-02-23 | FRIEDMAN ADENA T | acquired | - | - | 468,186 | chair and ceo |
2023-02-23 | Smith Bryan Everard | sold | -342,360 | 57.06 | -6,000 | executive vice president |
2023-02-22 | DENNISON ANN M | sold (taxes) | -928,732 | 57.1 | -16,265 | executive vice president |
2023-02-22 | Peterson Bradley J | sold (taxes) | -2,387,690 | 57.1 | -41,816 | executive vice president |
2023-02-22 | Tal Cohen | acquired | - | - | 52,020 | - |
2023-02-22 | Peterson Bradley J | acquired | - | - | 93,636 | executive vice president |
2023-02-22 | Griggs PC Nelson | sold (taxes) | -2,426,180 | 57.1 | -42,490 | executive vice president |
Nasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions. This segment also handles assets, such as cash equities, equity derivatives, currencies, interest-bearing securities, commodities, energy products, and digital currencies. The Investment Intelligence segment sells and distributes historical and real-time market data; develops and licenses Nasdaq-branded indexes and financial products; and provides investment insights and workflow solutions. The Corporate Platforms segment operates listing platforms; and offers investor relations intelligence and governance solutions. As of December 31, 2021, it had 4,178 companies listed securities on The Nasdaq Stock Market, including 1,632 listings on The Nasdaq Global Select Market; 1,169 on The Nasdaq Global Market; and 1,377 on The Nasdaq Capital Market. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses. This segment operates various exchanges and other marketplace facilities across various asset classes, which include derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and provides broker, clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.
NDAQ Income Statement
2022-12-31Consolidated Statements of Income - USD ($) $ in Millions | 12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
| Revenues: | |||
| Total revenues | $ 6,226 | $ 5,886 | $ 5,625 |
| Transaction-based expenses: | |||
| Revenues less transaction-based expenses | 3,582 | 3,420 | 2,903 |
| Operating expenses: | |||
| Compensation and benefits | 1,003 | 938 | 786 |
| Professional and contract services | 140 | 144 | 137 |
| Computer operations and data communications | 207 | 186 | 151 |
| Occupancy | 104 | 109 | 107 |
| General, administrative and other | 125 | 85 | 142 |
| Marketing and advertising | 51 | 57 | 39 |
| Depreciation and amortization | 258 | 278 | 202 |
| Regulatory | 33 | 64 | 24 |
| Merger and strategic initiatives | 82 | 87 | 33 |
| Restructuring charges | 15 | 31 | 48 |
| Total operating expenses | 2,018 | 1,979 | 1,669 |
| Operating income | 1,564 | 1,441 | 1,234 |
| Interest income | 7 | 1 | 4 |
| Interest expense | (129) | (125) | (101) |
| Net gain on divestiture of business | 0 | 84 | 0 |
| Other income | 2 | 81 | 5 |
| Net income from unconsolidated investees | 31 | 52 | 70 |
| Income before income taxes | 1,475 | 1,534 | 1,212 |
| Income tax provision | 352 | 347 | 279 |
| Net income | 1,123 | 1,187 | 933 |
| Net loss attributable to noncontrolling interests | 2 | 0 | 0 |
| Net income attributable to Nasdaq | $ 1,125 | $ 1,187 | $ 933 |
| Per share information: | |||
| Basic earnings per share (in dollars per share) | $ 2.28 | $ 2.38 | $ 1.89 |
| Diluted earnings per share (in dollars per share) | 2.26 | 2.35 | 1.86 |
| Cash dividends declared per common share (in dollars per share) | $ 0.78 | $ 0.70 | $ 0.65 |
| Transaction rebates | |||
| Transaction-based expenses: | |||
| Transaction-based expenses | $ (2,092) | $ (2,168) | $ (2,028) |
| Brokerage, clearance and exchange fees | |||
| Transaction-based expenses: | |||
| Transaction-based expenses | (552) | (298) | (694) |
| Operating segments | Market Platforms | |||
| Revenues: | |||
| Total revenues | 4,225 | 4,048 | 4,179 |
| Transaction-based expenses: | |||
| Revenues less transaction-based expenses | 1,581 | 1,582 | 1,457 |
| Operating expenses: | |||
| Depreciation and amortization | 59 | 64 | 55 |
| Operating income | 859 | 893 | 784 |
| Operating segments | Capital Access Platforms | |||
| Revenues: | |||
| Total revenues | 1,684 | 1,568 | 1,287 |
| Transaction-based expenses: | |||
| Revenues less transaction-based expenses | 1,684 | 1,568 | 1,287 |
| Operating expenses: | |||
| Depreciation and amortization | 36 | 34 | 30 |
| Operating income | 916 | 844 | 651 |
| Operating segments | Anti-Financial Crime | |||
| Revenues: | |||
| Total revenues | 306 | 231 | 116 |
| Transaction-based expenses: | |||
| Revenues less transaction-based expenses | 306 | 231 | 116 |
| Operating expenses: | |||
| Depreciation and amortization | 10 | 8 | 6 |
| Operating income | 80 | 44 | 35 |
| Reconciling items | |||
| Revenues: | |||
| Total revenues | $ 11 | $ 39 | $ 43 |
NDAQ Balance Sheet
2022-12-31Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 502 | $ 393 |
| Restricted cash and cash equivalents | 22 | 29 |
| Default funds and margin deposits assets | 7,021 | 5,911 |
| Financial investments | 181 | 208 |
| Receivables, net | 677 | 588 |
| Other current assets | 201 | 294 |
| Total current assets | 8,604 | 7,423 |
| Property and equipment, net | 532 | 509 |
| Goodwill | 8,099 | 8,433 |
| Intangible assets, net | 2,581 | 2,813 |
| Operating lease assets | 444 | 366 |
| Other non-current assets | 608 | 571 |
| Total assets | 20,868 | 20,115 |
| Current liabilities: | ||
| Accounts payable and accrued expenses | 185 | 185 |
| Section 31 fees payable to SEC | 243 | 62 |
| Accrued personnel costs | 243 | 252 |
| Deferred revenue | 357 | 329 |
| Other current liabilities | 122 | 115 |
| Default funds and margin deposits | 7,021 | 5,911 |
| Short-term debt | 664 | 1,018 |
| Total current liabilities | 8,835 | 7,872 |
| Long-term debt | 4,735 | 4,812 |
| Deferred tax liabilities, net | 456 | 406 |
| Operating lease liabilities | 452 | 386 |
| Other non-current liabilities | 226 | 234 |
| Total liabilities | 14,704 | 13,710 |
| Commitments and contingencies | ||
| Nasdaq stockholders’ equity: | ||
| Common stock, $0.01 par value, 900,000,000 shares authorized, shares issued: 513,157,630 at December 31, 2022 and 520,256,817 at December 31, 2021; shares outstanding: 491,592,491 at December 31, 2022 and 500,038,905 at December 31, 2021 | 5 | 5 |
| Additional paid-in capital | 1,445 | 1,949 |
| Common stock in treasury, at cost: 21,565,139 shares at December 31, 2022 and 20,217,912 shares at December 31, 2021 | (515) | (437) |
| Accumulated other comprehensive loss | (1,991) | (1,587) |
| Retained earnings | 7,207 | 6,465 |
| Total Nasdaq stockholders’ equity | 6,151 | 6,395 |
| Noncontrolling interests | 13 | 10 |
| Total equity | 6,164 | 6,405 |
| Total liabilities and equity | $ 20,868 | $ 20,115 |