What is Nasdaq, Inc.'s D&A?

Nasdaq, Inc. (NDAQ) reported D&A of $165M in Q1 2026.

How has Nasdaq, Inc.'s D&A changed year-over-year?

Nasdaq, Inc.'s D&A increased by 5.8% year-over-year, from $156M to $165M.

What is the long-term trend for Nasdaq, Inc.'s D&A?

Over 4 years (2021 to 2025), Nasdaq, Inc.'s D&A has grown at a 22.7% compound annual growth rate (CAGR), from $279M to $633M.

Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

Nasdaq, Inc. NDAQ D&A

D&A at other companies

BGC Group, Inc.BGC

$25.76M+17.8%

Cboe Global MarketsCBOE

$29.5M-2.6%

MSCIMSCI

$5.9M+25.5%

Intercontinental ExchangeICE

$384M-1.3%

Tradeweb Markets Inc.TW

$60.71M-3.2%

MarketAxessMKTX

$19.21M+5.3%

Segments

By segment

See full

Financial Technology$19M+58.3%

Capital Access Platforms$13M+30.0%

Market Services$12M+9.1%

Other financials

Income statement

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Revenue$2.1B+2.0%

Gross profit$1.4B+13.7%

Operating income$657.0M+20.1%

Net income$519.0M+31.4%

EPS (diluted)$0.91+33.8%

Balance sheet

See full

Cash & equivalents$1.1B-76.0%

Total debt$9.9B-2.2%

Total equity$12.0B+4.2%

Total assets$27.3B-10.9%

Cash flow

See full

Operating cash flow$689.0M+3.9%

CapEx$60.0M+22.4%

Free cash flow$629.0M+2.4%

Valuation

See full

Market cap$44.43B-12.2%

Enterprise value$53.24B-5.9%

P/E23.2×-10.3×

P/S5.4×-0.9×

Profitability

See full

Gross margin65.2%+4.2pp

Operating margin29.4%+4.6pp

Net margin23%+6.7pp

FCF margin24.1%+0.4pp

Returns & leverage

See full

Return on equity16.2%+4.8pp

Debt / equity0.8×-0.1×

Current ratio1×0.0×

Where this comes from

Reported directly by Nasdaq, Inc. in its filing.

Tagged under the XBRL concept us-gaap:DepreciationAndAmortization.

The official record: Nasdaq, Inc.’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nasdaq, Inc.'s D&A?: Nasdaq, Inc. (NDAQ) reported D&A of $165M in Q1 2026.
How has Nasdaq, Inc.'s D&A changed year-over-year?: Nasdaq, Inc.'s D&A increased by 5.8% year-over-year, from $156M to $165M.
What is the long-term trend for Nasdaq, Inc.'s D&A?: Over 4 years (2021 to 2025), Nasdaq, Inc.'s D&A has grown at a 22.7% compound annual growth rate (CAGR), from $279M to $633M.
What does D&A mean?: Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.