What is Nasdaq, Inc.'s operating income?

Nasdaq, Inc. (NDAQ) reported operating income of $657M in Q1 2026.

How has Nasdaq, Inc.'s operating income changed year-over-year?

Nasdaq, Inc.'s operating income increased by 20.1% year-over-year, from $547M to $657M.

What is the long-term trend for Nasdaq, Inc.'s operating income?

Over 4 years (2021 to 2025), Nasdaq, Inc.'s operating income has grown at a 12.8% compound annual growth rate (CAGR), from $1.44B to $2.33B.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

Nasdaq, Inc. NDAQ Operating Income

Operating Income at other companies

S&P GlobalSPGI

$2B+26.9%

Cboe Global MarketsCBOE

$505.6M+42.9%

MSCIMSCI

$456.9M+21.2%

Intercontinental ExchangeICE

$1.67B+36.4%

Tradeweb Markets Inc.TW

$287.25M+40.7%

MarketAxessMKTX

$100.92M+14.2%

Segments

By segment

See full

Capital Access Platforms$349M+14.1%

Financial Technology$241M+13.1%

Market Services$201M+16.2%

Other financials

Income statement

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Revenue$2.1B+2.0%

Gross profit$1.4B+13.7%

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

See full

Gross margin65.2%+4.2pp

Operating margin29.4%+4.6pp

Net margin23%+6.7pp

FCF margin24.1%+0.4pp

Returns & leverage

See full

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 us-gaap:OperatingIncomeLoss.

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 operating income?: Nasdaq, Inc. (NDAQ) reported operating income of $657M in Q1 2026.
How has Nasdaq, Inc.'s operating income changed year-over-year?: Nasdaq, Inc.'s operating income increased by 20.1% year-over-year, from $547M to $657M.
What is the long-term trend for Nasdaq, Inc.'s operating income?: Over 4 years (2021 to 2025), Nasdaq, Inc.'s operating income has grown at a 12.8% compound annual growth rate (CAGR), from $1.44B to $2.33B.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.