NDAQ · Nasdaq, Inc.
Market Cap
$55.53B
Shares
558.98M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$99.31
Open$99.94
Day$99.04–100.01
52W close$76.85–100.98
Avg vol 30d3.0M
Short int9.2M · 1.7% float · 3.5d
Short vol17%
Last earningsJul 23, 2026
DataAug 2022–Aug 2026
Filing10-Q · Jul 23
Raw chart and full-history price indicators begin at the captured split on Aug 29, 2022; bars on opposite sides are not compared.
Up next
Next earnings call
Oct 21, 2026
Est · unconfirmed
· in 7 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Jul 23, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Buy
SellHoldBuy
Technical
Strong Buy
Momentum
Very Strong
Sentiment
Neutral
Fundamentals
Excellent
Quant / Vol
Low
Market backdrop
VIX 14.4 · calm
Equity put/call 0.62
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+10%
above
Price vs 50-day avg
+9%
above
RSI (14)
69
neutral
MACD trend
Positive
52-week position
93%
near high
Momentum
relative strength
1-month return
+5%
trailing
6-month return
+13%
trailing
YTD return
+2%
this year
Relative strength
−1%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $91 › 200d $90 — 50d above 200d
Institutional flow
Distributing
-2% holders QoQ · +116 funds added
Insider flow
Accumulating
Net +$72.3K over 90 days · 67% sells
Short interest
Rising
1.65% of float · ▲ +9.1% MoM · 3.5 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,084 holders — near 3-yr high, broad support
Squeeze score
60
elevated · 0–100
Fundamentals
Revenue growth
+8%
Y/Y
Gross margin
123%
expanding
EPS growth
+60%
Y/Y
Free cash flow
$2.0B
Valuation
P/E 29
in line
Buyback
$2.5B
remaining
Balance sheet
$8.4B
net debt
Quant / Vol
risk profile
Volatility
27%
annualized · 1-yr
Max drawdown
−24%
past year
ATR
1.9%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Jul 23, 2026
Non-GAAP operating expense
· 2026
Non-GAAP
$2.53B – $2.57B
Non-GAAP tax rate
· 2026
Non-GAAP
22.5% – 24.5%
Prior guidance
period ended
· from the 8-K filed Oct 21, 2025
Non-GAAP operating expense
· 2025
$2.31B – $2.34B
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+10%
Bullish
Price vs 50-day avg
+9%
Bullish
RSI (14)
69
Neutral
MACD trend
Positive
Bullish
52-week position
93%
Bullish
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $91 › 200d $90 — 50d above 200d
Institutional flow
Distributing
-2% holders QoQ · +116 funds added
Insider flow
Accumulating
Net +$72.3K over 90 days · 67% sells
Short interest
Rising
1.65% of float · ▲ +9.1% MoM · 3.5 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,084 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $77
Now $99 · 93%
Range high $101
vs 200-day avg +10%
vs 50-day avg +9%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Annualized recurring revenues | $1.39B | Three Months Ended June 30, 2026 | — |
| Calypso cross-sells | 1 | second quarter | — |
| Calypso signed 3 new clients, including 1 cross-sell, and 31 upsells and is now available in mor | 3 | second quarter | — |
| Calypso upsells | 31 | second quarter | — |
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| Capital Markets Technology Annualized recurring revenues | $1.08B | Three Months Ended June 30, 2026 | — |
| Capital Markets Technology cross-sells | 3 | 2Q26 | — |
| Capital Markets Technology upsells | 42 | 2Q26 | — |
| Eqlipse platform new clients on the Intelligence Platform | 2 | second quarter | — |
| Eqlipse platform signed 2 new digital marketplaces and 2 new clients on the Intelligence Platfor | 2 | second quarter | — |
| Financial Crime Management Technology Annualized recurring revenues | $359M | Three Months Ended June 30, 2026 | — |
| Financial Technology revenue | $539M | FY2026 Q2 | +16.2% |
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| FinTech cross-sells | 7 | 2Q26 | — |
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| FinTech new clients signed | 58 | 2Q26 | — |
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| FinTech upsells | 107 | 2Q26 | — |
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| GFTMA deal includes a group of 5 of the country’s largest banks | 5 | second quarter | — |
| Index ETP AUM (average) | $1.01T | 2Q26 | — |
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| Index ETP AUM (end of period) | $1.11T | 2Q26 | — |
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| Index net inflows | $51B | 2Q26 | — |
| Index net inflows (trailing twelve months) | $109B | trailing twelve months ended 2Q26 | — |
| Listings win rate | 74% | second quarter | — |
| Market share reported to the FINRA/Nasdaq Trade Reporting Facility | 46.4% | Three Months Ended June 30, 2026 | — |
| Nasdaq GEMX Options matched market share | 3.4% | Three Months Ended June 30, 2026 | — |
| Nasdaq ISE Options matched market share | 6.6% | Three Months Ended June 30, 2026 | — |
| Nasdaq PHLX matched market share | 11.2% | Three Months Ended June 30, 2026 | — |
| Nasdaq Texas Options matched market share | 1.3% | Three Months Ended June 30, 2026 | — |
| Nasdaq Verafin Agentic Workforce clients | 750 | 2Q26 | — |
| Nasdaq’s Closing Cross executed shares during the Russell reconstitution | 4.6B | second quarter | — |
| Nasdaq’s Closing Cross execution time during the Russell reconstitution | 1.6 | second quarter | — |
| Nasdaq’s Closing Cross notional value during the June Triple Witch | $296B | second quarter | — |
| Nasdaq’s Closing Cross notional value during the Russell reconstitution | $334B | second quarter | — |
| New Index products launched | 34 | 2Q26 | — |
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| Non-GAAP operating income non-GAAP | $1.66B | Six Months Ended June 30, 2026 | — |
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| Non-GAAP operating margin non-GAAP | 57% | Six Months Ended June 30, 2026 | — |
| Number of licensed exchange traded products | 481 | Three Months Ended June 30, 2026 | — |
| Number of listed companies on Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic | 1,109 | Three Months Ended June 30, 2026 | — |
| Number of listed companies on The Nasdaq Stock Market | 4,659 | Three Months Ended June 30, 2026 | — |
| Period end ETP assets under management (AUM) tracking Nasdaq indexes | $1.11T | Three Months Ended June 30, 2026 | — |
| Regulatory Technology Annualized recurring revenues | $428M | Three Months Ended June 30, 2026 | — |
| Remaining share repurchase authorization | $2.5B | as of June 30, 2026 | — |
| Solutions revenue | $1.16B | Three Months Ended June 30, 2026 | — |
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| The Nasdaq Options Market matched market share | 2.6% | Three Months Ended June 30, 2026 | — |
| The Nasdaq Stock Market matched market share | 14.3% | Three Months Ended June 30, 2026 | — |
| Total average ETP AUM tracking Nasdaq indexes | $946B | Six Months Ended June 30, 2026 | — |
| Total Financial Technology Annualized recurring revenues | $1.87B | Three Months Ended June 30, 2026 | — |
| Total industry average daily volume U.S. equity options | 66.5M | Three Months Ended June 30, 2026 | — |
| Total market share | 60.9% | Six Months Ended June 30, 2026 | — |
| Total matched market share executed on Nasdaq's exchanges (cash equity) | 14.7% | Three Months Ended June 30, 2026 | — |
| Total matched market share executed on Nasdaq's exchanges (options) | 29.1% | Three Months Ended June 30, 2026 | — |
| TTM net appreciation ETP AUM tracking Nasdaq indexes | $260B | Three Months Ended June 30, 2026 | — |
| TTM net inflows ETP AUM tracking Nasdaq indexes | $109B | Three Months Ended June 30, 2026 | — |
| Verafin combined assets across financial institutions | $13T | 2Q26 | — |
| Verafin financial institutions | 2,800 | 2Q26 | — |
| Annualized recurring revenues (Capital Access Platforms) | $1.37B | March 31, 2026 | — |
| Average daily number of equity trades executed on Nasdaq's exchanges | 797,886 | March 31, 2026 | — |
| Average daily number of equity trades executed on Nasdaq's exchanges (Nordic and Baltic) | 797,886 | March 31, 2026 | — |
| AxiomSL new clients | 1 | first quarter of 2026 | — |
| AxiomSL upsells | 26 | first quarter of 2026 | — |
| Calypso new clients | 4 | first quarter of 2026 | — |
| Capital Access Platforms ARR growth | 9% | first quarter of 2026 | — |
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| Capital Markets Technology new clients | 5 | first quarter of 2026 | — |
| Financial Technology ARR growth | 18% | first quarter of 2026 | — |
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| Index average ETP AUM | $877B | first quarter of 2026 | — |
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| Index net inflows (quarter) | $6B | first quarter of 2026 | — |
| Index revenue | $220M | first quarter of 2026 | — |
| Market share reported to the FA/Nasdaq Trade Reporting Facility | 45.6% | March 31, 2026 | — |
| Matched share volume | 183.7B | March 31, 2026 | — |
| Nasdaq MRX Options matched market share | 4.3% | March 31, 2026 | — |
| Nasdaq Texas matched market share (formerly Nasdaq BX) | 0.3% | March 31, 2026 | — |
| Nasdaq Verafin new small-and-medium bank clients | 58 | first quarter of 2026 | — |
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| net inflows | 6B | Q1 2026 | — |
| new products launched | 31 | Q1 2026 | — |
| Non-GAAP diluted earnings per share non-GAAP | $0.96 | March 31, 2026 | — |
GAAP → non-GAAP reconciliationGAAP U.S. GAAP diluted earnings per share $0.91
+$0.05 Total adjustments from non-GAAP net income above
= Non-GAAP diluted earnings per share $0.96
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| Non-GAAP net income non-GAAP | $549M | March 31, 2026 | — |
| Non-GAAP operating expenses non-GAAP | $608M | March 31, 2026 | — |
| Number of listings on The Nasdaq Stock Market | 4,570 | March 31, 2026 | — |
| Quarterly dividend per share | $0.31 | April 23, 2026 | — |
| SPACs (new listings) | 48 | March 31, 2026 | — |
| Surveillance new clients | 1 | first quarter of 2026 | — |
| Surveillance upsells | 32 | first quarter of 2026 | — |
| Total industry average daily share volume (Total U.S.-listed securities) | 20B | March 31, 2026 | — |
| Total market share executed on Nasdaq's exchanges (Nordic and Baltic) | 74.3% | March 31, 2026 | — |
| U.S. listings win rate | 71% | Q1 2026 | — |
| Annualized Recurring Revenue (ARR) | $3.1B | 4Q25 | — |
| Annualized recurring revenues (ARR) - Capital Access Platforms | $1.34B | Year Ended December 31, 2025 | — |
| Annualized recurring revenues (ARR) - Capital Markets Technology | $975M | Year Ended December 31, 2025 | — |
| Annualized recurring revenues (ARR) - Financial Crime Management Technology | $329M | Year Ended December 31, 2025 | — |
| Annualized recurring revenues (ARR) - Regulatory Technology | $407M | Year Ended December 31, 2025 | — |
| Annualized recurring revenues (ARR) - Total Financial Technology | $1.71B | Year Ended December 31, 2025 | — |
| Annualized SaaS revenue % of ARR | 38% | 4Q25 | — |
| Calypso central bank clients (end of year) | 24 | FY2025 | — |
| Capital Markets Technology new clients (full year) | 20 | FY2025 | — |
| Capital Markets Technology upsells (full year) | 214 | FY2025 | — |
| Capital returned through share repurchases (full year) | $616M | FY2025 | — |
| Cash Equity Trading - Matched share volume | 625.7B | Year Ended December 31, 2025 | — |
| Cash Equity Trading - Total industry average daily share volume | 17.6B | Year Ended December 31, 2025 | — |
| Debt repaid | $826M | FY2025 | — |
| Expense efficiencies actioned | $160M | FY2025 | — |
| Financial Technology cross-sells (full year) | 25 | FY2025 | — |
| Financial Technology cross-sells since Adenza acquisition | 42 | FY2025 | — |
| Financial Technology new clients (full year) | 291 | FY2025 | — |
| Financial Technology upsells (full year) | 462 | FY2025 | — |
| Initial public offerings - Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic | 19 | Year Ended December 31, 2025 | — |
| Initial public offerings - Nasdaq operating company IPOs | 155 | Year Ended December 31, 2025 | — |
| Initial public offerings - SPACs | 126 | Year Ended December 31, 2025 | — |
| Initial public offerings - The Nasdaq Stock Market | 281 | Year Ended December 31, 2025 | — |
| Listings switch market value | $1.2T | FY2025 | — |
| Nasdaq BX matched market share | 0.2% | Year Ended December 31, 2025 | — |
| Nasdaq BX Options matched market share | 1.6% | Year Ended December 31, 2025 | — |
| Nasdaq Closing Cross daily notional value record | $233B | 4Q25 | — |
| Nasdaq Nordic and Nasdaq Baltic - Average daily number of equity trades executed on Nasdaq's exc | 710,314 | Year Ended December 31, 2025 | — |
| Nasdaq Nordic and Nasdaq Baltic - Total average daily value of shares traded | $5.1B | Year Ended December 31, 2025 | — |
| Nasdaq Nordic and Nasdaq Baltic - Total market share executed on Nasdaq's exchanges | 72.2% | Year Ended December 31, 2025 | — |
| Nasdaq Nordic and Nasdaq Baltic options and futures - Total average daily volume of options and | 220,448 | Year Ended December 31, 2025 | — |
| Regulatory Technology new clients (full year) | 35 | FY2025 | — |
| Regulatory Technology upsells (full year) | 245 | FY2025 | — |
| The Nasdaq Stock Market matched market share (cash equity) | 13.9% | Year Ended December 31, 2025 | — |
| Total market share (cash equity) | 62% | Year Ended December 31, 2025 | — |
| Total new listings - Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic | 27 | Year Ended December 31, 2025 | — |
| Total new listings - The Nasdaq Stock Market | 784 | Year Ended December 31, 2025 | — |
| U.S. equity options - Total industry average daily volume | 55.8M | Year Ended December 31, 2025 | — |
| Verafin Enterprise deals signed | 3 | 4Q25 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Financial Data & Stock Exchanges — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
NDAQ
this stock
Nasdaq, Inc.
|
$55.53B | +2.2% | +8.3% | 29.0 | 1.7% |
|
SPGI
S&P Global Inc.
|
$137.99B | — | +7.1% | 29.5 | 2.4% |
|
CME
Cme Group Inc.
|
$102.77B | +4.7% | +6.4% | 24.2 | 1.4% |
|
ICE
Intercontinental Exchange, Inc.
|
$91.13B | +0.2% | -2.1% | 22.9 | 1.4% |
|
MCO
Moodys Corp /De/
|
$88.16B | +0.8% | +16.6% | 32.3 | 1.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
Raw-price comparisons begin at the captured split on Aug 29, 2022; windows that need an earlier baseline remain unavailable.
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| NDAQ | +1.1% | +5.4% | +12.8% | +5.4% | +2.2% |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | +0.6% | +2.5% | -0.6% | +2.5% | -10.6% |
Capital returns
Latest dividend
$0.31
/ share · ex Jun 12, 2026
Declared · upcoming
$0.31
/ share · ex Sep 11, 2026
Paid (TTM)
$1.12
/ share · 4 payouts
Dividend yield (TTM, derived)
1.13%
Buyback program
· as of Jun 30, 2026
Authorized
$3.00B
Spent (derived)
$500.00M
Remaining
$2.50B
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1120193
CUSIP
631103108
13F (30d)
763 filings
710 filers
Visit website
Investor relations