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Nasdaq, Inc. NDAQ Market Services — D&A

Other segment segments

Financial Technology
$19M+58.3%
Capital Access Platforms
$13M+30.0%

Similar metrics at other companies

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JLLCapital Markets Services — D&A
$10.4M-45.0%
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$4.12M+23.4%
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WDCapital Markets — D&A
$1.15M+0.4%
Align Technology logo
ALGNSystems and Services — D&A
$10.53M+24.4%
TransUnion logo
TRUU.S. Markets — D&A
$108.5M+7.2%
Charles Schwab Corporation logo
SCHWInvestor Services — D&A
$153M-7.3%

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:DepreciationAndAmortization.

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 market services — D&A?
Nasdaq, Inc. (NDAQ) reported market services — D&A of $12M in Q1 2026.
How has Nasdaq, Inc.'s market services — D&A changed year-over-year?
Nasdaq, Inc.'s market services — D&A increased by 9.1% year-over-year, from $11M to $12M.
What is the long-term trend for Nasdaq, Inc.'s market services — D&A?
Over 4 years (2021 to 2025), Nasdaq, Inc.'s market services — D&A has grown at a 6.7% compound annual growth rate (CAGR), from $34M to $44M.
What does market services — D&A mean?
This non-cash expense reflects the systematic allocation of the cost of tangible and intangible assets used by the market services segment over their useful lives. It is critical for understanding the capital intensity of the segment's technology and infrastructure investments.