(NDAQ) Nasdaq - Overview
Stock: Trading Platform, Cloud Analytics, Market Data, Surveillance Software, Exchange
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.24% |
| Yield on Cost 5y | 2.98% |
| Yield CAGR 5y | -16.01% |
| Payout Consistency | 98.4% |
| Payout Ratio | 30.2% |
| Risk 5d forecast | |
|---|---|
| Volatility | 43.2% |
| Relative Tail Risk | -2.08% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.07 |
| Alpha | -10.88 |
| Character TTM | |
|---|---|
| Beta | 0.903 |
| Beta Downside | 1.001 |
| Drawdowns 3y | |
|---|---|
| Max DD | 20.46% |
| CAGR/Max DD | 0.70 |
Description: NDAQ Nasdaq January 29, 2026
Nasdaq, Inc. (NASDAQ:NDAQ) is a technology-focused provider to global capital markets, organized into three segments: Capital Access Platforms, Financial Technology, and Market Services. The firm supplies historical and real-time market data, licenses Nasdaq-branded indices, and offers a suite of regulatory-compliance and risk-management solutions-including Verafin (AML detection), AxiomSL (regulatory reporting), and Calypso (cross-asset trading). It also runs multiple exchange venues (equities, derivatives, commodities, fixed income, and digital assets) and provides clearing, settlement, and colocation services for a broad set of asset classes.
Key recent metrics (Nasdaq 2023 annual report and Q1-2024 results) show total revenue of $6.5 billion, a 6 % year-over-year increase driven primarily by a 9 % rise in the Financial Technology segment, while the Market Services segment grew 4 % on the back of higher data-distribution fees. Non-GAAP EPS was $2.57 for FY 2023, and the company reported a 15 % expansion in its cloud-based AML platform adoption, reflecting heightened regulatory spending across banks and fintechs. The broader financial-exchanges sector is currently benefitting from elevated market-volatility trading volumes and a macro-trend toward real-time data analytics, which together support Nasdaq’s pricing power on its data-licensing contracts.
For a deeper dive into how Nasdaq’s valuation compares to peers and to explore scenario-based forecasts, consider adding ValueRay to your research toolkit.
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income: 1.79b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.95 > 1.0 |
| NWC/Revenue: -4.43% < 20% (prev -1.57%; Δ -2.86% < -1%) |
| CFO/TA 0.08 > 3% & CFO 2.33b > Net Income 1.79b |
| Net Debt (9.11b) to EBITDA (3.13b): 2.91 < 3 |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (576.5m) vs 12m ago -0.43% < -2% |
| Gross Margin: 47.93% > 18% (prev 0.40%; Δ 4753 % > 0.5%) |
| Asset Turnover: 26.75% > 50% (prev 24.34%; Δ 2.41% > 0%) |
| Interest Coverage Ratio: 7.01 > 6 (EBITDA TTM 3.13b / Interest Expense TTM 356.0m) |
Altman Z'' 1.91
| A: -0.01 (Total Current Assets 7.60b - Total Current Liabilities 7.96b) / Total Assets 31.05b |
| B: 0.31 (Retained Earnings 9.59b / Total Assets 31.05b) |
| C: 0.08 (EBIT TTM 2.49b / Avg Total Assets 30.72b) |
| D: 0.42 (Book Value of Equity 7.82b / Total Liabilities 18.82b) |
| Altman-Z'' Score: 1.91 = BBB |
Beneish M -3.24
| DSRI: 0.83 (Receivables 943.0m/1.02b, Revenue 8.22b/7.40b) |
| GMI: 0.84 (GM 47.93% / 40.42%) |
| AQI: 1.01 (AQ_t 0.72 / AQ_t-1 0.71) |
| SGI: 1.11 (Revenue 8.22b / 7.40b) |
| TATA: -0.02 (NI 1.79b - CFO 2.33b) / TA 31.05b) |
| Beneish M-Score: -3.24 (Cap -4..+1) = AA |
What is the price of NDAQ shares?
Over the past week, the price has changed by -12.37%, over one month by -14.95%, over three months by -3.11% and over the past year by +5.75%.
Is NDAQ a buy, sell or hold?
- StrongBuy: 6
- Buy: 7
- Hold: 5
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the NDAQ price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 108.3 | 27.7% |
| Analysts Target Price | 108.3 | 27.7% |
| ValueRay Target Price | 92.8 | 9.4% |
NDAQ Fundamental Data Overview February 09, 2026
P/E Forward = 22.2222
P/S = 5.923
P/B = 3.9615
P/EG = 1.5518
Revenue TTM = 8.22b USD
EBIT TTM = 2.49b USD
EBITDA TTM = 3.13b USD
Long Term Debt = 8.67b USD (from longTermDebt, two quarters ago)
Short Term Debt = 431.0m USD (from shortTermDebt, last quarter)
Debt = 9.93b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 9.11b USD (from netDebt column, last quarter)
Enterprise Value = 57.76b USD (48.68b + Debt 9.93b - CCE 842.0m)
Interest Coverage Ratio = 7.01 (Ebit TTM 2.49b / Interest Expense TTM 356.0m)
EV/FCF = 27.53x (Enterprise Value 57.76b / FCF TTM 2.10b)
FCF Yield = 3.63% (FCF TTM 2.10b / Enterprise Value 57.76b)
FCF Margin = 25.53% (FCF TTM 2.10b / Revenue TTM 8.22b)
Net Margin = 21.77% (Net Income TTM 1.79b / Revenue TTM 8.22b)
Gross Margin = 47.93% ((Revenue TTM 8.22b - Cost of Revenue TTM 4.28b) / Revenue TTM)
Gross Margin QoQ = 66.92% (prev 44.43%)
Tobins Q-Ratio = 1.86 (Enterprise Value 57.76b / Total Assets 31.05b)
Interest Expense / Debt = 0.89% (Interest Expense 88.0m / Debt 9.93b)
Taxrate = 10.52% (61.0m / 580.0m)
NOPAT = 2.23b (EBIT 2.49b * (1 - 10.52%))
Current Ratio = 0.95 (Total Current Assets 7.60b / Total Current Liabilities 7.96b)
Debt / Equity = 0.81 (Debt 9.93b / totalStockholderEquity, last quarter 12.23b)
Debt / EBITDA = 2.91 (Net Debt 9.11b / EBITDA 3.13b)
Debt / FCF = 4.34 (Net Debt 9.11b / FCF TTM 2.10b)
Total Stockholder Equity = 11.90b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.82% (Net Income 1.79b / Total Assets 31.05b)
RoE = 15.03% (Net Income TTM 1.79b / Total Stockholder Equity 11.90b)
RoCE = 12.13% (EBIT 2.49b / Capital Employed (Equity 11.90b + L.T.Debt 8.67b))
RoIC = 10.63% (NOPAT 2.23b / Invested Capital 20.99b)
WACC = 7.81% (E(48.68b)/V(58.60b) * Re(9.24%) + D(9.93b)/V(58.60b) * Rd(0.89%) * (1-Tc(0.11)))
Discount Rate = 9.24% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 2.32%
[DCF Debug] Terminal Value 80.27% ; FCFF base≈1.84b ; Y1≈2.05b ; Y5≈2.70b
Fair Price DCF = 68.70 (EV 48.34b - Net Debt 9.11b = Equity 39.23b / Shares 571.0m; r=7.81% [WACC]; 5y FCF grow 13.13% → 2.90% )
EPS Correlation: 82.34 | EPS CAGR: 10.51% | SUE: 2.30 | # QB: 3
Revenue Correlation: 87.87 | Revenue CAGR: 8.44% | SUE: 3.61 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.92 | Chg30d=+0.014 | Revisions Net=+6 | Analysts=13
EPS current Year (2026-12-31): EPS=3.89 | Chg30d=+0.060 | Revisions Net=+8 | Growth EPS=+11.7% | Growth Revenue=+8.6%
EPS next Year (2027-12-31): EPS=4.36 | Chg30d=+0.083 | Revisions Net=+6 | Growth EPS=+12.1% | Growth Revenue=+8.3%