Nasdaq, Inc. NDAQ Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Total revenues by Business | |||||
| Capital Access Platforms | $2.13B+9.5% | $1.95B+11.6% | $1.74B+3.6% | $1.68B+7.5% | |
| Financial Technology | $1.85B+11.8% | $1.66B+94.5% | $851M-1.5% | $864M+11.9% | |
| Market Services | $4.22B+11.9% | $3.77B+19.5% | $3.15B-13.3% | $3.64B+4.7% | |
| Revenues less transaction-based expenses by Business | |||||
| Capital Access Platforms | $829M+9.8% | $755M+0.7% | $750M— | —— | |
| Financial Technology | $1.09B+9.6% | $996M+49.8% | $665M+19.2% | $558M-27.7% | |
| Market Services | $1.2B+17.6% | $1.02B+3.5% | $986M-0.9% | $995M-1.6% | |
| Operating Income by Business | |||||
| Capital Access Platforms | $1.27B+12.0% | $1.14B+16.9% | $973M+6.1% | $917M+8.9% | |
| Financial Technology | $862M— | —— | $334M+11.7% | $299M+15.4% | |
| Market Services | $764M+27.8% | $598M+2.7% | $582M-8.1% | $633M-5.1% | |
| Other expenses by Business | |||||
| Capital Access Platforms | $174M+6.1% | $164M+12.3% | $146M+5.8% | $138M— | |
| Financial Technology | $119M+32.2% | $90M+30.4% | $69M-2.8% | $71M— | |
| Market Services | $84M0.0% | $84M+12.0% | $75M+10.3% | $68M— | |
| Directly consumed expenses by Business | |||||
| Capital Access Platforms | $683M+5.9% | $645M+3.2% | $625M-0.8% | $630M— | |
| Financial Technology | $870M— | —— | $536M— | —— | |
| Market Services | $353M+4.1% | $339M+2.7% | $330M+12.6% | $293M— | |
| Purchases of property and equipment by Business | |||||
| Capital Access Platforms | $67M+31.4% | $51M-3.8% | $53M+6.0% | $50M0.0% | |
| Financial Technology | $132M— | —— | $50M+2.0% | $49M-10.9% | |
| Market Services | $67M+31.4% | $51M-7.3% | $55M+3.8% | $53M-8.6% | |
| Foreign currency translation adjustments by Business | |||||
| Capital Access Platforms | $177M— | —— | $36M+123% | -$154M— | |
| Financial Technology | $36M— | —— | $7M— | —— | |
| Market Services | $229M— | —— | $37M— | —— | |
| D&A by Business | |||||
| Capital Access Platforms | $41M+7.9% | $38M+2.7% | $37M+2.8% | $36M+5.9% | |
| Financial Technology | $56M+27.3% | $44M+22.2% | $36M+2.9% | $35M-2.8% | |
| Market Services | $44M+12.8% | $39M+14.7% | $34M+6.3% | $32M-5.9% | |
| Goodwill by Business | |||||
| Capital Access Platforms | $17.06B+2.4% | $16.67B-0.1% | $16.69B— | —— | |
| Financial Technology | $31.79B+0.6% | $31.59B— | —— | —— | |
| Market Services | $8.37B+6.8% | $7.83B— | —— | $11.6B-14.8% | |
| Contract with Customer, Liability, Revenue Recognized Including Opening Balance by Product | |||||
| Capital Markets Technology | $168M-2.9% | $173M+193% | $59M— | —— | |
| Financial Crime Management Technology | $144M+23.1% | $117M+14.7% | $102M— | —— | |
| Initial Listings | $34M-5.6% | $36M-7.7% | $39M— | —— | |
| Other | $14M+27.3% | $11M+22.2% | $9M— | —— | |
| Regulatory Technology | $135M+114% | $63M+232% | $19M— | —— | |
| Workflow & Insights | $181M+1.7% | $178M+5.3% | $169M— | —— | |
| Revenue, remaining performance obligation by Product | |||||
| Capital Markets Technology | $5.18B+12.4% | $4.6B— | —— | —— | |
| Financial Crime Management Technology | $3.2B+14.7% | $2.79B— | —— | —— | |
| Regulatory Technology | $3.5B+28.3% | $2.73B— | —— | —— | |
| Workflow & Insights | $1.42B+2.5% | $1.39B+15.8% | $1.2B— | —— | |
| Revenue, remaining performance obligation, period by Product | |||||
| Capital Markets Technology | $0— | $0— | —— | —— | |
| Financial Crime Management Technology | $0— | $0— | —— | —— | |
| Regulatory Technology | $0— | $0— | —— | —— | |
| Workflow & Insights | $0— | $0— | $0— | —— | |
| Contract with Customer, Liability by Product | |||||
| Annual Listings | $560M+5.5% | $531M-3.3% | $549M— | —— | |
| Capital Markets Technology | $610M+3.9% | $587M— | —— | —— | |
| Financial Crime Management Technology | $659M+20.9% | $545M— | —— | —— | |
| Initial Listings | $376M+4.2% | $361M-12.8% | $414M— | —— | |
| Other | $110M+6.8% | $103M+10.8% | $93M— | —— | |
| Regulatory Technology | $526M+39.2% | $378M— | —— | —— | |
| Workflow & Insights | $820M+4.9% | $782M+5.8% | $739M— | —— | |
| Cost of Product and Service Sold by Product | |||||
| Brokerage, clearance and exchange fees | $440M-39.2% | $724M+120% | $329M-40.5% | $553M+86.2% | |
| Transaction rebates | $2.58B+27.3% | $2.03B+10.1% | $1.84B-12.1% | $2.09B-3.6% | |
| Additions by Product | |||||
| Capital Markets Technology | $174M-1.7% | $177M-16.1% | $211M— | —— | |
| Financial Crime Management Technology | $185M+26.7% | $146M+19.7% | $122M— | —— | |
| Initial Listings | $38M+26.7% | $30M+57.9% | $19M— | —— | |
| Regulatory Technology | $149M+71.3% | $87M+7.4% | $81M— | —— | |
| Workflow & Insights | $193M+0.5% | $192M+8.5% | $177M+6.6% | $166M— | |
| Foreign Currency Translation by Product | |||||
| Financial Crime Management Technology | $0— | —— | $0— | —— | |
| Workflow & Insights | -$7M— | $0— | $0-100% | $1M— | |
| Subscription agreement period by Product | |||||
| AxiomSL Solutions | 0— | —— | —— | —— | |
| Capital Markets Technology | 0— | —— | —— | —— | |
| Financial Crime Management Technology | 0— | 0— | 0— | —— | |
| Surveillance | 0— | —— | —— | —— | |
| Workflow & Insights | 0— | 0— | 0— | —— | |
| Total revenues by Geography | |||||
| All other countries | $2.31B+47.4% | $1.57B+31.3% | $1.19B+6.0% | $1.13B+5.8% | |
| United States | $5.96B+2.2% | $5.83B+19.7% | $4.87B-4.5% | $5.1B+5.8% | |
| PP&E (Net) by Geography | |||||
| All other countries | $867M— | —— | —— | —— | |
| United States | $1.83B— | —— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Nasdaq, Inc. break its business down?
- Nasdaq, Inc. (NDAQ) reports total revenues by business across 3 parts — Capital Access Platforms, Financial Technology and Market Services. Each is extracted from the segment footnotes and tracked over time.
- Where does Nasdaq, Inc.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Nasdaq, Inc.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
