Stock research
Nasdaq operates stock exchanges and provides market technology, data, and listing services.
For the fiscal year ended December 31, 2025, Nasdaq, Inc. reported revenue of $8.3B and net income of $1.8B, with operating cash flow of $2.3B. Source: Form 10-K filed February 12, 2026
SEC data as of
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
Delayed Cboe One market data via TradingView. It may differ from primary-exchange or consolidated quotes.
Reported figures from Nasdaq, Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $8.3B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $1.8B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $2.3B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $3.09 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 21.6% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 568M | As of 2026-02-03 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
Nasdaq, Inc. sits in Financials. Banks, insurers, asset managers, and exchanges — the plumbing of capital markets, geared directly to interest rates and credit. We have not yet written company-specific drivers for NDAQ; the forces that matter most for the sector are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
Operating cash flow was $2.3B, 1.26 times net income of $1.8B, for the fiscal year ended December 31, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
Net income was 21.6% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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Read the full researchHow we source and review company pages: research methodology.
| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| John Delaney | 2026-08-25 | Sale | Dependent | $100,001 - $250,000 | Filing #20035408 |
| John Delaney | 2026-04-24 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034487 |
| John Delaney | 2026-03-31 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034299 |
| Alan Armstrong | 2026-03-27 | Sale | Self | $50,001 - $100,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| John Delaney | 2026-03-18 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034299 |
| John Delaney | 2026-03-10 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034299 |
| John Delaney | 2026-03-09 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034299 |
| John Delaney | 2026-03-04 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034299 |
| John Delaney | 2026-03-03 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034299 |
| John Delaney | 2026-02-27 | Purchase | Dependent | $1,001 - $15,000 | Filing #20034159 |
All verified NDAQ congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Nasdaq operates stock exchanges and provides market technology, data, and listing services.
For the fiscal year ended December 31, 2025, Nasdaq, Inc. reported revenue of $8.3B and net income of $1.8B, with operating cash flow of $2.3B. The figures come from Nasdaq, Inc.'s SEC XBRL filings.
The SEC lists Nasdaq, Inc.'s fiscal year end as December 31.
The current verified House and Senate snapshot contains 14 transaction rows for NDAQ, each linked to the original filing.
This page does not rate NDAQ as a buy or sell. It sets out what Nasdaq, Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
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