For the year ending 2025-12-31, NDAQ made $8,262M in revenue. $1,788M in net income. Net profit margin of 21.64%.
| Income Statement | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenues | 8,262 | 7,400 | 6,064 | 6,226 |
| Transaction-based expenses-Transaction Rebates | 2,572 | 2,026 | 1,838 | 2,092 |
| Transaction-based expenses-Brokerage Clearance And Exchange Fees | 441 | 725 | 331 | 552 |
| Revenues less transaction-based expenses | 5,249 | 4,649 | 3,895 | 3,582 |
| Compensation and benefits | 1,392 | 1,324 | 1,082 | 1,003 |
| Professional and contract services | 160 | 152 | 128 | 140 |
| Technology and communication infrastructure | 316 | 281 | 233 | 207 |
| Occupancy | 124 | 112 | 129 | 104 |
| General, administrative and other | 75 | 109 | 113 | 125 |
| Marketing and advertising | 65 | 54 | 47 | 51 |
| Depreciation and amortization | 632 | 613 | 323 | 258 |
| Regulatory | 52 | 55 | 34 | 33 |
| Merger and strategic initiatives | 60 | 35 | 148 | 82 |
| Restructuring charges | 42 | 116 | 80 | 15 |
| Total operating expenses | 2,918 | 2,851 | 2,317 | 2,018 |
| Operating income | 2,331 | 1,798 | 1,578 | 1,564 |
| Interest income | 39 | 28 | 115 | 7 |
| Interest expense | 367 | 414 | 284 | 129 |
| Net gain on divestitures | 86 | - | 0 | 0 |
| Other income (loss) | -27 | 21 | -1 | 2 |
| Net income (loss) from unconsolidated investees | 83 | 16 | -7 | 31 |
| Income before income taxes | 2,145 | 1,449 | 1,401 | 1,475 |
| Income tax provision | 358 | 334 | 344 | 352 |
| Net income | 1,787 | 1,115 | 1,057 | 1,123 |
| Net loss attributable to noncontrolling interests | -1 | -2 | -2 | -2 |
| Net income attributable to nasdaq | 1,788 | 1,117 | 1,059 | 1,125 |
| Basic earnings per share (in dollars per share) | 3.12 | 1.94 | 2.1 | 2.28 |
| Diluted earnings per share (in dollars per share) | 3.09 | 1.93 | 2.08 | 2.26 |
| Weighted-average common shares outstanding for basic earnings per share (in shares) | 573,257,760 | 575,428,536 | 504,909,392 | 492,420,787 |
| Weighted-average common shares outstanding for diluted earnings per share (in shares) | 578,597,687 | 579,189,522 | 508,392,982 | 497,857,565 |
NASDAQ, INC. (NDAQ)
NASDAQ, INC. (NDAQ)