Income StatementBalance SheetCash FlowSegments
Nasdaq, Inc. logo

Nasdaq, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

Nasdaq, Inc. generated $2.3B in operating cash flow over the trailing twelve months. After $277.0M in capital expenditures, free cash flow was $2.0B. Free cash flow increased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.3BNet Cash From Investing (TTM)-$95.0MNet Cash From Financing (TTM)-$6.1BCapital Expenditures (TTM)$277.0MDepreciation And Amortization Cf (TTM)$641.0MNet Change In Cash (TTM)-$3.6B
Latest FilingQ1 2026
Report Date2026-04-24
Market Cap$50.6B
P/E Ratio26.47
ROE16.22%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$60.0M$49.0M$59.0M$69.0M$89.0M$60.0M
Payments For (Proceeds From) Default Funds And Margin Deposits$944.0M$204.0M$171.0M$44.0M$661.0M-$976.0M
Payment for (Proceeds from) Other Investing Activity$8.0M$5.0M$6.0M$65.0M$2.0M$11.0M
Payments to Acquire Short-Term Investments$54.0M$105.0M$95.0M$34.0M$9.0M$166.0M
Proceeds from maturities of short-term investments$58.0M$105.0M$220.0M$67.0M$35.0M$8.0M
Net cash from investing activities-$1.0B-$258.0M-$59.0M-$145.0M-$638.0M$747.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable-$17.0M-$17.0M-$13.0M$8.0M—-$33.0M
Change in deferred revenue$59.0M$257.0M-$139.0M-$128.0M$79.0M$311.0M
Change in other liabilities—-$56.0M-$38.0M$80.0M$15.0M-$121.0M
Change in receivables$94.0M-$48.0M-$97.0M-$27.0M—$49.0M
Deferred income taxes-$5.0M$6.0M$6.0M$18.0M$18.0M$12.0M
Depreciation and amortization$152.0M$156.0M$158.0M$158.0M$160.0M$165.0M
Net cash from operating activities$705.0M$663.0M$746.0M$221.0M$625.0M$689.0M
Net income$355.0M$395.0M$452.0M$423.0M$517.0M$519.0M
Gain on sale of business and assets—$0.0$39.0M-$2.0M$49.0M$89.0M
Equity in earnings (losses) of equity method investees$10.0M$27.0M$23.0M$24.0M$9.0M$26.0M
Accrued compensation and employee benefits$23.0M-$134.0M$74.0M$35.0M$50.0M-$153.0M
Increase (Decrease) in Other Operating Assets$7.0M-$66.0M-$18.0M$17.0M$163.0M-$94.0M
Section 31 fees payable to SEC$58.8M-$55.0M———$0.0
Other Noncash Income (Expense)—$11.0M-$2.0M-$8.0M-$22.0M-$21.0M
Stock-based compensation$36.0M$35.0M$46.0M$41.0M$43.0M$38.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$181.0M$257.0M$400.0M$69.0M$100.0M$0.0
Dividends paid$138.0M$138.0M$155.0M$155.0M$153.0M$153.0M
Default funds and margin deposits—-$549.0M-$801.0M$503.0M-$37.0M-$3.5B
Other, net—$1.0M$0.0-$1.0M$43.0M$0.0
Proceeds from issuance of common stock relating to employee stock plans—$0.0———$15.0M
Net cash from financing activities-$24.0M-$1.1B-$1.5B$159.0M-$567.0M-$4.2B
Repurchases of common stock$0.0$115.0M$100.0M$115.0M$286.0M$548.0M
Taxes paid for net share settlement$15.0M$25.0M———$31.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$645.0M$614.0M$687.0M$152.0M$536.0M$629.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$462.0M$403.0M$245.0M$5.0M$73.0M-$50.0M
Net increase (decrease) in cash-$789.0M-$275.0M-$530.0M$240.0M-$507.0M-$2.8B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$90.0M$125.0M$84.0M$74.0M$71.0M$126.0M
Income Taxes Paid, Net$122.0M$45.0M$131.0M$44.0M$153.0M$167.0M