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Nasdaq, Inc. NDAQ Operating margin

Operating margin at other companies

S&P Global logo
S&P GlobalSPGI
44.4%+4.5pp
Cboe Global Markets logo
Cboe Global MarketsCBOE
33.8%+6.8pp
MSCI logo
MSCIMSCI
55.7%+1.8pp
Intercontinental Exchange logo
Intercontinental ExchangeICE
40.7%+3.3pp
Tradeweb Markets Inc. logo
Tradeweb Markets Inc.TW
43.7%+4.8pp
MarketAxess logo
MarketAxessMKTX
40.7%-0.6pp

Other financials

Income statement

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Revenue$2.5B+20.5%
Gross profit$1.5B+14.9%
Operating income$712.0M+25.4%
Net income$507.0M+12.2%
EPS (diluted)$0.89+14.1%

Balance sheet

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Cash & equivalents$800.0M-81.0%
Total debt$9.6B-5.9%
Total equity$12.0B+1.5%
Total assets$27.3B-10.0%

Cash flow

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Operating cash flow$711.0M-4.7%
CapEx$77.0M+30.5%
Free cash flow$634.0M-7.7%

Valuation

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Market cap$52.65B-5.3%
Enterprise value$61.44B-0.3%
P/E26.8×-10.1×
P/S-0.8×

Profitability

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Gross margin64.2%+3.7pp
Net margin22.5%+3.9pp
FCF margin22.3%-4.0pp

Returns & leverage

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Return on equity16.5%+3.2pp
Debt / equity0.8×-0.1×
Current ratio0.0×

Where this comes from

Calculated from Nasdaq, Inc.’s reported figures.

Based on trailing twelve months.

The source filing: Nasdaq, Inc.’s 10-Q, filed July 23, 2026. Open the filing →

Filed
Jul 23, 2026, 4:13 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001120193-26-000013

FAQ

What is Nasdaq, Inc.'s operating margin?
Nasdaq, Inc. (NDAQ) reported operating margin of 29.5% in Q2 2026.
How has Nasdaq, Inc.'s operating margin changed year-over-year?
Nasdaq, Inc.'s operating margin increased by 15.4% year-over-year, from 25.6% to 29.5%.
What is the long-term trend for Nasdaq, Inc.'s operating margin?
Over 5 years (2020 to 2025), Nasdaq, Inc.'s operating margin has grown at a 5.1% compound annual growth rate (CAGR), from 21.9% to 28.1%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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