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Nasdaq, Inc. NDAQ Capital Access Platforms — Operating Income

Other segment segments

Financial Technology
$241M+13.1%
Market Services
$201M+16.2%

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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

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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

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Operating cash flow$689.0M+3.9%
CapEx$60.0M+22.4%
Free cash flow$629.0M+2.4%

Valuation

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Market cap$43.91B-11.2%
Enterprise value$52.73B-3.9%
P/E23×-15.7×
P/S5.3×-1.0×

Profitability

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Gross margin65.2%+4.2pp
Operating margin29.4%+4.6pp
Net margin23%+6.7pp
FCF margin24.1%+0.4pp

Returns & leverage

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Return on equity16.2%+4.8pp
Debt / equity0.8×-0.1×
Current ratio0.0×

Where this comes from

Reported directly by Nasdaq, Inc. in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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 capital access platforms — operating income?
Nasdaq, Inc. (NDAQ) reported capital access platforms — operating income of $349M in Q1 2026.
How has Nasdaq, Inc.'s capital access platforms — operating income changed year-over-year?
Nasdaq, Inc.'s capital access platforms — operating income increased by 14.1% year-over-year, from $306M to $349M.
What is the long-term trend for Nasdaq, Inc.'s capital access platforms — operating income?
Over 4 years (2021 to 2025), Nasdaq, Inc.'s capital access platforms — operating income has grown at a 10.9% compound annual growth rate (CAGR), from $842M to $1.27B.
What does capital access platforms — operating income mean?
This metric measures the profitability of the Capital Access Platforms segment by subtracting operating expenses from the segment's total revenue. It reflects the core earnings power of the business unit before interest, taxes, and corporate-level allocations. Investors use this to assess the segment's ability to generate sustainable profit from its market access and listing services.