Nasdaq Inc - Ordinary Shares - 144A

Nasdaq Inc - Ordinary Shares - 144A

NDAQ

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Market Cap$52.65B
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P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Nasdaq Inc - Ordinary Shares - 144ANasdaq Inc - Ordinary Shares - 144A27.11.19%16%6.20.9

Earnings Call Q2 2026

July 23, 2026 - AI Summary

Strong top-line + EPS performance (good surprise): Nasdaq reported Q2’26 net revenue of $1.5B (+15% YoY) and Solutions revenue of $1.2B (+17%). Diluted EPS was $1.07 (+25% YoY), exceeding $1 per quarter for the first time, driven by 19% operating income growth and expanding margins (operating margin 57%).
Broad-based growth across divisions (good): - Capital Access Platforms: revenue $621M (+18%), ARR +8%; Index revenue +35% with ETP AUM > $1T for the first time and record net inflows $51B in the quarter / $109B over 12 months; derivatives contract volumes +33%. - Financial Technology: revenue $539M (+15%), ARR +16% with Financial Crime Management (Verafin) revenue +22%; the Verafin platform now serves 2,800+ clients / $13T assets; agentic AI workforce used by 750 clients. - Market Services: revenue $340M (+11%) with Index options revenue doubling YoY for the 4th straight quarter; European cash equities lit market share +3 pts to 74%.
Capital markets & product milestones (opportunity): Major ecosystem tailwinds: largest IPO (SpaceX) $86B, plus several record IPOs; market-structure modernization momentum including transition to always-on trading. Nasdaq expects 23/5 trading launch on Dec 6, 2026 and received SEC approval for event options (on track for Q4 launch).

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$113.17

Target Price by Analysts

20.9% upsideNasdaq Target Price DetailsTarget Price
$55.29

Current Fair Value

40.9% downside

Overvalued by 40.9% based on the discounted cash flow analysis.

Share Statistics

Market cap$52.65 Billion
Enterprise Value$62.76 Billion
Dividend Yield$1.12 (1.19%)
Earnings per Share$3.13
Beta1
Outstanding Shares564,200,000

Return

Return on Equity16.42%ROE
Return on Assets7.20%
Return on Invested Capital11.07%

Valuation & Multiples

P/E Ratio27.14P/E Ratio
PEG223.08PEG
Price to Sales6.24Price to Sales
Price to Book Ratio4.46Price to Book Ratio
Enterprise Value to Revenue7.21
Enterprise Value to EBIT24.82
Enterprise Value to Net Income31
Total Debt to Enterprise0.17
Debt to Equity0.89Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 23, 2026
EPS Estimate
$0.98
Average shareholder expectation
Revenue Estimate
$1.46 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 20, 2026
EPS Estimate
$1.02
Average shareholder expectation
Revenue Estimate
$1.47 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000 59.53%
Total Calls- 100.00%
Total Puts- 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %3.48% 78.53%
Total Invested$1.53B 96.14%
Investors Holding400 722.00%

ESG Score

No data

About Nasdaq Inc

4,099 employees
CEO: Robert Greifeld

Nasdaq is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and ex...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and technical expertise for all tax legislation. Its work directly influences corporate tax structures and capital investment credits, thereby shaping the overall tax burden and attractiveness of capital markets for Nasdaq's listed companies and investors.

Finance

As the most powerful economic committee, its control over taxation and trade directly impacts corporate valuations, investment decisions, and the overall attractiveness of public markets, which are fundamental to Nasdaq's listing and trading businesses.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, which regulates commodity derivatives markets. Critically, its role in defining cryptocurrencies as digital commodities is directly relevant to potential new assets traded or cleared by Nasdaq or its technology clients.

Banking, Housing, and Urban Affairs

This is the primary committee regulating the financial system, including the SEC (which oversees exchanges like Nasdaq), and influencing cryptocurrency regulation. Its decisions directly impact market structure, trading rules, listing requirements, and capital markets.