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Nasdaq, Inc. NDAQ Capital Markets Technology — Contract with Customer, Liability

Other product segments

Annual Listings
$294M+8.1%
Workflow & Insights
$219M+2.8%
Financial Crime Management Technology
$201M+21.8%
Regulatory Technology
$160M+30.1%
Initial Listings
$99M+8.8%
Other
$28M-12.5%

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$2.9M
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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$44.58B-5.7%
Enterprise value$53.39B-0.1%
P/E23.3×-8.0×
P/S5.4×-0.5×

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:ContractWithCustomerLiability.

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 markets technology — contract with customer, liability?
Nasdaq, Inc. (NDAQ) reported capital markets technology — contract with customer, liability of $179M in Q1 2026.
How has Nasdaq, Inc.'s capital markets technology — contract with customer, liability changed year-over-year?
Nasdaq, Inc.'s capital markets technology — contract with customer, liability increased by 10.5% year-over-year, from $162M to $179M.
What does capital markets technology — contract with customer, liability mean?
Represents the deferred revenue or contract liability balance specifically associated with the Capital Markets Technology segment. This reflects payments received from customers for software or technology services where the performance obligations have not yet been satisfied. It serves as a key indicator of future revenue visibility for the technology business unit.