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Nasdaq, Inc. NDAQ Return on invested capital

Return on invested capital at other companies

S&P Global logo
S&P GlobalSPGI
12.7%+2.6pp
Cboe Global Markets logo
Cboe Global MarketsCBOE
48.8%+25.0pp
Intercontinental Exchange logo
Intercontinental ExchangeICE
8.5%+1.4pp
Tradeweb Markets Inc. logo
Tradeweb Markets Inc.TW
15.2%+2.7pp
Fidelity National Information Services logo
Fidelity National Information ServicesFIS
4.6%-0.3pp
CME Group logo
CME GroupCME
15.4%+1.6pp

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 trailing twelve months.

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 return on invested capital?
Nasdaq, Inc. (NDAQ) reported return on invested capital of 10.6% in Q1 2026.
How has Nasdaq, Inc.'s return on invested capital changed year-over-year?
Nasdaq, Inc.'s return on invested capital increased by 14.7% year-over-year, from 9.2% to 10.6%.
What is the long-term trend for Nasdaq, Inc.'s return on invested capital?
Over 4 years (2021 to 2025), Nasdaq, Inc.'s return on invested capital has grown at a -4.0% compound annual growth rate (CAGR), from 48.3% to 41%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.