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Nasdaq, Inc. NDAQ Net debt / EBITDA

Net debt / EBITDA at other companies

S&P Global logo
S&P GlobalSPGI
1.2×-0.4×
Cboe Global Markets logo
Cboe Global MarketsCBOE
-2.3×-5.2×
Intercontinental Exchange logo
Intercontinental ExchangeICE
2.9×-0.4×
Tradeweb Markets Inc. logo
Tradeweb Markets Inc.TW
-1.5×+0.3×
Fidelity National Information Services logo
Fidelity National Information ServicesFIS
5.2×+2.6×
CME Group logo
CME GroupCME
0.3×-0.3×

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+22.5%
Free cash flow$629.0M+2.4%

Valuation

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Market cap$47.1B+10.6%
Enterprise value$55.92B+16.3%
P/E24.6×-8.7×
P/S5.7×+0.2×

Profitability

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Gross margin65.2%+4.2pp
Operating margin29.4%+4.6pp
Net margin23%+6.7pp

Returns & leverage

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Return on equity16.2%+4.8pp
Debt / equity0.8×-0.1×
Current ratio0.0×

Where this comes from

Calculated from Nasdaq, Inc.’s reported figures.

Based on the most recent quarter.

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 net debt / EBITDA?
Nasdaq, Inc. (NDAQ) reported net debt / EBITDA of 2.9× in Q1 2026.
How has Nasdaq, Inc.'s net debt / EBITDA changed year-over-year?
Nasdaq, Inc.'s net debt / EBITDA increased by 34.0% year-over-year, from 2.1× to 2.9×.
What is the long-term trend for Nasdaq, Inc.'s net debt / EBITDA?
Over 4 years (2021 to 2025), Nasdaq, Inc.'s net debt / EBITDA has grown at a 6.7% compound annual growth rate (CAGR), from 6.4× to 8.4×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.