Nasdaq revenue and financials
$92.27Change from previous close: +0.09%Absolute change: +$0.08
In the fiscal year ended December 2025, Nasdaq reported revenue of $8.26B (+11.65% year over year). Net income was $1.79B, a net margin of 21.6%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +11.65%
- 2025 vs 2024
- Net income growth
- +60.07%
- 2025 vs 2024
- Net margin
- 21.6%
- 2024: 15.1%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 711 | 689 | 625 | 221 | 746 | 663 | 705 | 244 | 460 | 530 | 417 | 300 |
| Depreciation and amortization | 166 | 165 | 161 | 158 | 157 | 156 | 153 | 152 | 153 | 155 | 125 | 64.0 |
| Capital expenditure | -77.0 | -60.0 | -89.0 | -69.0 | -59.0 | -49.0 | -60.0 | -56.0 | -52.0 | -39.0 | -42.0 | -37.0 |
| Investing cash flow | -446 | 747 | -638 | -145 | -59.0 | -258 | -1,008 | 73.0 | 214 | -232 | -5,836 | 134 |
| Financing cash flow | -583 | -4,184 | -567 | 159 | -1,462 | -1,083 | -24.0 | -204 | -458 | -1,875 | 1,201 | -1,397 |
| Dividends paid | -174 | -153 | -153 | -155 | -155 | -138 | -138 | -138 | -138 | -127 | -127 | -108 |
| Share repurchases | -392 | -579 | -320 | -119 | -134 | -140 | -25.0 | -89.0 | -88.0 | -24.0 | -130 | -2.0 |
| Debt issued | 269 | — | — | — | — | — | — | — | — | — | 597 | -5.0 |
| Debt repaid | -431 | 0.0 | -100 | -69.0 | -400 | -257 | -181 | -50.0 | -174 | -407 | 31.0 | -138 |
| Effect of exchange rates | -18.0 | -50.0 | 73.0 | 5.0 | 245 | 403 | -462 | 205 | 31.0 | -311 | 502 | -70.0 |
| Net change in cash | -336 | -2,798 | -507 | 240 | -530 | -275 | -789 | 318 | 247 | -1,888 | -3,716 | -1,033 |
| Free cash flow | 634 | 629 | 536 | 152 | 687 | 614 | 645 | 188 | 408 | 491 | 375 | 263 |
| Levered free cash flow | 687 | 478 | 454 | 72.5 | 555 | 587 | 590 | 174 | 496 | 500 | 295 | 171 |