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Nasdaq, Inc. NDAQ Other — Contract with Customer, Liability

Other product segments

Annual Listings
$294M+8.1%
Workflow & Insights
$219M+2.8%
Financial Crime Management Technology
$201M+21.8%
Capital Markets Technology
$179M+10.5%
Regulatory Technology
$160M+30.1%
Initial Listings
$99M+8.8%

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$7.59M-69.1%
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$95.5M-0.9%
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PRTHContract With Customer, Liability, Current And Other
$2.73M+8.9%

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 us-gaap:ContractWithCustomerLiability.

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 other — contract with customer, liability?
Nasdaq, Inc. (NDAQ) reported other — contract with customer, liability of $28M in Q1 2026.
How has Nasdaq, Inc.'s other — contract with customer, liability changed year-over-year?
Nasdaq, Inc.'s other — contract with customer, liability decreased by 12.5% year-over-year, from $32M to $28M.
What is the long-term trend for Nasdaq, Inc.'s other — contract with customer, liability?
Over 2 years (2023 to 2025), Nasdaq, Inc.'s other — contract with customer, liability has grown at a 8.8% compound annual growth rate (CAGR), from $93M to $110M.
What does other — contract with customer, liability mean?
This represents the deferred revenue or contract liability arising from non-US listing services where fees have been collected but performance obligations remain unsatisfied. It reflects the obligation to provide ongoing listing and compliance services to international issuers over the duration of the contract term.