What is Nasdaq, Inc.'s initial listings — 2031+?

Nasdaq, Inc. (NDAQ) reported initial listings — 2031+ of $3M in Q1 2026.

How has Nasdaq, Inc.'s initial listings — 2031+ changed year-over-year?

Nasdaq, Inc.'s initial listings — 2031+ decreased by 0.0% year-over-year, from $3M to $3M.

What does initial listings — 2031+ 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 2031 and beyond. It captures the long-term revenue tail of the company's listing contracts. This metric is essential for assessing the total contract value and long-term revenue visibility.

Nasdaq, Inc. NDAQ Initial Listings — 2031+

Other product segments

Annual Listings

$0—

Capital Markets Technology

$0—

Financial Crime Management Technology

$0—

Other

$0—

Regulatory Technology

$0—

Workflow & Insights

$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%

ICEAnnual Listing Revenue — Additions

$473M+2.6%

ADPDeferred revenue, net of current portion

$384.9M+6.4%

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

$5.92M+74.3%

AJGDeferred income

$177M+167%

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

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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

See full

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

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:ContractWithCustomerLiabilityExpectedToBeRecognizedAfterYearFour.

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 initial listings — 2031+?: Nasdaq, Inc. (NDAQ) reported initial listings — 2031+ of $3M in Q1 2026.
How has Nasdaq, Inc.'s initial listings — 2031+ changed year-over-year?: Nasdaq, Inc.'s initial listings — 2031+ decreased by 0.0% year-over-year, from $3M to $3M.
What does initial listings — 2031+ 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 2031 and beyond. It captures the long-term revenue tail of the company's listing contracts. This metric is essential for assessing the total contract value and long-term revenue visibility.