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Nasdaq, Inc. NDAQ Market Services — Total revenues

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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$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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 — total revenues?
Nasdaq, Inc. (NDAQ) reported market services — total revenues of $1.05B in Q1 2026.
How has Nasdaq, Inc.'s market services — total revenues changed year-over-year?
Nasdaq, Inc.'s market services — total revenues decreased by 8.2% year-over-year, from $1.14B to $1.05B.
What is the long-term trend for Nasdaq, Inc.'s market services — total revenues?
Over 4 years (2021 to 2025), Nasdaq, Inc.'s market services — total revenues has grown at a 5.0% compound annual growth rate (CAGR), from $3.48B to $4.22B.
What does market services — total revenues mean?
This represents the total gross revenue generated by the market services segment, primarily driven by transaction fees from equity trading and related market access services. It serves as a primary indicator of the segment's scale and market share within the broader financial exchange ecosystem.