What is Nasdaq, Inc.'s initial listings — 2026?

Nasdaq, Inc. (NDAQ) reported initial listings — 2026 of $31M in Q1 2026.

How has Nasdaq, Inc.'s initial listings — 2026 changed year-over-year?

Nasdaq, Inc.'s initial listings — 2026 increased by 14.8% year-over-year, from $27M to $31M.

What does initial listings — 2026 mean?

This represents the portion of deferred revenue from initial listing fees that is contractually expected to be recognized as revenue in the fiscal year 2026. It provides visibility into the future revenue stream derived from the current cohort of listed companies. This is a key component of the company's long-term revenue backlog.

Nasdaq, Inc. NDAQ Initial Listings — 2026

Other product segments

Annual Listings

$294M+8.1%

Workflow & Insights

$202M+2.5%

Financial Crime Management Technology

$181M+19.9%

Capital Markets Technology

$158M+5.3%

Regulatory Technology

$149M+27.4%

Other

$15M-25.0%

Similar metrics at other companies

ICEAnnual Listing Revenue — Total deferred revenue

$464M+1.3%

ICEAnnual Listing Revenue — Contract With Customer, Liability, Including New Contract Revenue, Recognized

$128M+4.9%

PCTYImplementation services and other — Deferred revenue from nonrefundable upfront fees expected to be recognized in fiscal 2026

$10.88M+0.5%

PCTYImplementation services and other — Deferred revenue from nonrefundable upfront fees expected to be recognized in fiscal 2028 and thereafter

$5.92M+74.3%

ICEAnnual Listing Revenue — Additions

$473M+2.6%

ADPDeferred revenue, net of current portion

$384.9M+6.4%

Other financials

Income statement

See full

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$44.58B-5.7%

Enterprise value$53.39B-0.1%

P/E23.3×-8.0×

P/S5.4×-0.5×

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 ndaq:ContractWithCustomerLiabilityExpectedToBeRecognizedRemainderOfFiscalYear.

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

Ask your AI about Nasdaq, Inc.'s initial listings — 2026.

Connect your AI assistant and compare segments, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Nasdaq, Inc.'s initial listings — 2026?: Nasdaq, Inc. (NDAQ) reported initial listings — 2026 of $31M in Q1 2026.
How has Nasdaq, Inc.'s initial listings — 2026 changed year-over-year?: Nasdaq, Inc.'s initial listings — 2026 increased by 14.8% year-over-year, from $27M to $31M.
What does initial listings — 2026 mean?: This represents the portion of deferred revenue from initial listing fees that is contractually expected to be recognized as revenue in the fiscal year 2026. It provides visibility into the future revenue stream derived from the current cohort of listed companies. This is a key component of the company's long-term revenue backlog.