Nasdaq, Inc. (NDAQ) — Financial statements
Income statement, balance sheet, and cash flow for Nasdaq, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 8,218↑11.1% | 7,400↑22.0% | 6,064↓2.6% | 6,226↑5.8% | 5,886 | |
| Cost of Revenue | 4,279↓3.0% | 4,411↑25.4% | 3,518↓9.5% | 3,887↑6.4% | 3,654 | |
| Gross Profit | 3,939↑31.8% | 2,989↑17.4% | 2,546↑8.8% | 2,339↑4.8% | 2,232 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 75↓79.9% | 373↑0.8% | 370↑0.3% | 369↑9.2% | 338 | |
| Selling & Marketing Expenses | 65↑20.4% | 54↑14.9% | 47↓7.8% | 51↓10.5% | 57 | |
| SG&A Expenses | 140↓67.2% | 427↑2.4% | 417↓0.7% | 420↑6.3% | 395 | |
| Other Expenses | 1,468↑92.1% | 764↑38.7% | 551↑55.2% | 355↓10.4% | 396 | |
| Operating Expenses | 1,608↑35.0% | 1,191↑23.0% | 968↑24.9% | 775↓2.0% | 791 | |
| Total Costs & Expenses | 5,887↑5.1% | 5,602↑24.9% | 4,486↓3.8% | 4,662↑4.9% | 4,445 | |
| Operating Results | ||||||
| Operating Income | 2,331↑29.6% | 1,798↑13.9% | 1,578↑0.9% | 1,564↑8.5% | 1,441 | |
| Depreciation & Amortization | 633↑3.3% | 613↑89.8% | 323↑25.2% | 258↓7.2% | 278 | |
| EBITDA | 3,127↑27.1% | 2,460↑23.2% | 1,996↑7.7% | 1,853↓3.8% | 1,927 | |
| EBIT | 2,494↑35.0% | 1,847↑10.4% | 1,673↑4.9% | 1,595↓3.3% | 1,649 | |
| Interest & Other Income | ||||||
| Net Interest Income | -50↓278.6% | 28↓75.7% | 115↑1542.9% | 7↑600.0% | 1 | |
| Interest Income | 38↑35.7% | 28↓75.7% | 115↑1542.9% | 7↑600.0% | 1 | |
| Interest Expense | 88 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Non-Operating Income | -163↓232.7% | -49↑48.4% | -95↓206.5% | -31↑85.1% | -208 | |
| Other Income / Expenses | -186↑46.7% | -349↓97.2% | -177↓98.9% | -89↓195.7% | 93 | |
| Income Before Tax | 2,145↑48.0% | 1,449↑3.4% | 1,401↓5.0% | 1,475↓3.8% | 1,534 | |
| Income Tax Expense | 356↑6.6% | 334↓2.9% | 344↓2.3% | 352↑1.4% | 347 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 1,789↑60.4% | 1,115↑5.5% | 1,057↓5.9% | 1,123↓5.4% | 1,187 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 1,789↑60.2% | 1,117↑5.5% | 1,059↓5.9% | 1,125↓5.2% | 1,187 | |
| Bottom-Line Net Income | 1,789↑60.2% | 1,117↑5.5% | 1,059↓5.9% | 1,125↓5.2% | 1,187 | |
| EPS (Basic) | 3.13↑61.3% | 1.94↓7.6% | 2.10↓7.9% | 2.28↓4.2% | 2.38 | |
| EPS (Diluted) | 3.09↑60.1% | 1.93↓7.2% | 2.08↓8.0% | 2.26↓3.8% | 2.35 | |
| Weighted Average Shares | 571↓0.8% | 575↑13.1% | 508↑3.2% | 492↓1.1% | 498 | |
| Weighted Average Diluted Shares | 577↓0.5% | 579↑13.9% | 508↑2.1% | 498↓1.4% | 505 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.