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Nasdaq, Inc. NDAQ Initial Listings — Additions

Other product segments

Annual Listings
$293M+8.5%
Workflow & Insights
$101M+2.0%
Financial Crime Management Technology
$88M+18.9%
Regulatory Technology
$56M+100%
Capital Markets Technology
$53M+26.2%
Other
$2M

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$128M+4.9%
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XYLAdditions, net
$110M-5.2%

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 ndaq:ContractWithCustomerLiabilityCurrentPeriodAdditionsNetOfRecognition.

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 — additions?
Nasdaq, Inc. (NDAQ) reported initial listings — additions of $14M in Q1 2026.
How has Nasdaq, Inc.'s initial listings — additions changed year-over-year?
Nasdaq, Inc.'s initial listings — additions increased by 27.3% year-over-year, from $11M to $14M.
What is the long-term trend for Nasdaq, Inc.'s initial listings — additions?
Over 2 years (2023 to 2025), Nasdaq, Inc.'s initial listings — additions has grown at a 41.4% compound annual growth rate (CAGR), from $19M to $38M.
What does initial listings — additions mean?
This metric tracks the new contract liabilities recognized during the period from companies newly listing on the exchange. It captures the gross inflow of deferred revenue resulting from new listing agreements. This serves as a primary indicator of the company's ability to attract new corporate issuers to its platform.