Nasdaq, Inc. NDAQ Trade Management Services — Renewal fee, recognition period

Similar metrics at other companies

SDGRSoftware products and services — Timing of revenue recognition

36.5%-6.5pp

MKTXPost Trade Services — Contract With Customer Liability Revenue Recognized Including Additions

$6M-4.0%

EVIRenewal Term Amount

$12.75M—

CXDOSoftware Solutions — Revenue From Fees Commissions And Other Recognized Over Time

$0—

ICEServicing software — Description of timing

$0—

ICERisk management of open interest performance obligations in our CDS business — Period of recognition of performance obligations

$0—

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 ratio1×0.0×

Where this comes from

Reported directly by Nasdaq, Inc. in its filing.

Tagged under the XBRL concept ndaq:RenewalFeeRecognitionPeriod.

The official record: Nasdaq, Inc.’s 10-K, filed February 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nasdaq, Inc.'s trade management services — renewal fee, recognition period?: Nasdaq, Inc. (NDAQ) reported trade management services — renewal fee, recognition period of 0 in Q4 2025.
What does trade management services — renewal fee, recognition period mean?: This metric represents the duration or accounting treatment period over which renewal fees for trade management software and services are recognized as revenue. It reflects the contractual lifecycle of recurring service agreements within the trade management segment, indicating how the company amortizes or defers subscription-based income. Understanding this period is critical for assessing the predictability of cash flows and the timing of revenue recognition relative to service delivery.