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NDAQ Q3 2025 request
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/api/financials?ticker=NDAQ&year=2025&quarter=3
Pick an endpoint and run the request.Income Statement
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Revenue | 1,958 | 1,902 | +2.9% |
Show Business Segments breakouts |
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| Capital Access Platforms: · Operating Segments | 546 | 501 | +9.0% |
| Financial Technology · Operating Segments | 457 | 371 | +23.2% |
| Market Services · Operating Segments | 946 | 1,022 | -7.4% |
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| Non Us | 396 | 353 | +12.2% |
| US | 1,562 | 1,549 | +0.8% |
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| Corporate Non Segment | 9 | -26 | +134.6% |
| Material Reconciling Items | 9 | 8 | +12.5% |
| Cost of Revenue | -643 | -756 | +14.9% |
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| Brokerage, clearance and exchange fees | -6 | -243 | +97.5% |
| Transaction rebates | -637 | -513 | -24.2% |
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| Market Services · Operating Segments | -643 | -756 | +14.9% |
| Gross Profit | 1,315 | 1,146 | +14.7% |
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| Service Other · Material Reconciling Items | 9 | 8 | +12.5% |
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| Capital Access Platforms: · Data & Listing Services | 204 | 190 | +7.4% |
| Capital Access Platforms: · Index | 206 | 182 | +13.2% |
| Capital Access Platforms: · Workflow & Insights | 136 | 129 | +5.4% |
| Financial Technology · Capital Markets Technology | 264 | 234 | +12.8% |
| Financial Technology · Financial Crime Management Technology | 84 | 69 | +21.7% |
| Financial Technology · Regulatory Technology | 109 | 68 | +60.3% |
| Market Services · Operating Segments | 303 | 266 | +13.9% |
| Labor And Related Expense | 353 | 332 | +6.3% |
| Professional Fees | 38 | 36 | +5.6% |
| Communications And Information Technology | 80 | 71 | +12.7% |
| Occupancy Net | 32 | 28 | +14.3% |
| General & Administrative | 22 | 26 | -15.4% |
| Marketing And Advertising Expense | 13 | 11 | +18.2% |
| Depreciation And Amortization | 158 | 153 | +3.3% |
Show Business Segments breakouts |
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| Capital Access Platforms: · Operating Segments | 11 | 10 | +10.0% |
| Financial Technology · Operating Segments | 14 | 10 | +40.0% |
| Market Services · Operating Segments | 11 | 10 | +10.0% |
| Regulatory Expenses | 12 | 9 | +33.3% |
| Business Combination Acquisition Related Costs | 9 | 10 | -10.0% |
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| Corporate Non Segment | 9 | 10 | -10.0% |
| Restructuring Charges | 12 | 22 | -45.5% |
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| Corporate Non Segment | 12 | 22 | -45.5% |
Show Restructuring Cost And Reserve breakouts |
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| Consulting services · Adenza restructuring | 3 | 1 | +200.0% |
| Employee Severance · Adenza restructuring | 7 | 3 | +133.3% |
| Other Restructuring | 12 | 22 | -45.5% |
| Other Restructuring · Adenza restructuring | 2 | 1 | +100.0% |
| Operating Expenses | 729 | 698 | +4.4% |
| Operating Income | 586 | 448 | +30.8% |
Show Business Segments breakouts |
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| Capital Access Platforms: · Operating Segments | 325 | 290 | +12.1% |
| Financial Technology · Operating Segments | 206 | 182 | +13.2% |
| Market Services · Operating Segments | 197 | 161 | +22.4% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | -142 | -185 | +23.2% |
| Interest Income | 8 | 8 | 0.0% |
| Interest Expense | -87 | -102 | +14.7% |
| Gain Loss On Sale Of Business | -2 | — | — |
| Income Loss From Equity Method Investments | 24 | 1 | +2300.0% |
| Income Before Taxes | 529 | 356 | +48.6% |
| Income Tax Expense (Benefit) | 106 | 51 | +107.8% |
| Net Income | 423 | 305 | +38.7% |
| Net Income | 423 | 306 | +38.2% |
Show Equity Components breakouts |
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| Retained Earnings | 423 | 306 | +38.2% |
| EPS (Basic) | 0.74 | 0.53 | +39.6% |
| EPS (Diluted) | 0.73 | 0.53 | +37.7% |
| Common Stock Dividends Per Share Declared | 0.27 | 0.24 | +12.5% |
| Total Costs & Expenses | 479 | 461 | +3.9% |
Show Business Segments breakouts |
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| Capital Access Platforms: · Operating Segments | 175 | 173 | +1.2% |
| Financial Technology · Operating Segments | 220 | 203 | +8.4% |
| Market Services · Operating Segments | 84 | 85 | -1.2% |
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| Corporate Non Segment | 151 | 159 | -5.0% |
| Comprehensive Income | 445 | 365 | +21.9% |
| Wtd Avg Shares (Basic) | 573,286,343 | 575,120,541 | -0.3% |
| Wtd Avg Shares (Diluted) | 578,977,502 | 579,017,204 | -0.0% |
| Other Expenses | 250 | 237 | +5.5% |
Show Business Segments breakouts |
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| Capital Access Platforms: · Operating Segments | 46 | 38 | +21.1% |
| Financial Technology · Operating Segments | 31 | 20 | +55.0% |
| Market Services · Operating Segments | 22 | 20 | +10.0% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 151 | 159 | -5.0% |
Balance Sheet
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 470 | 266 | +76.7% |
| Restricted Cash And Cash Equivalents At Carrying Value | 227 | 42 | +440.5% |
| Default Funds And Margin Deposits Assets | 5,750 | 5,865 | -2.0% |
Show Financial Instrument breakouts |
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| Central bank certificates | 733 | 1,555 | -52.9% |
| Dem and Deposits | 3,011 | 3,932 | -23.4% |
| European government debt securities | 361 | 24 | +1404.2% |
| Investments | 2,006 | 378 | +430.7% |
| Multilateral development bank debt securities | 182 | 162 | +12.3% |
| Repurchase Agreements | 1,463 | 192 | +662.0% |
| Restricted Cash and Equivalents | 3,744 | 5,487 | -31.8% |
| Trading Securities Debt | 53 | 202 | -73.8% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Bank Time Deposits | 1 | — | — |
| Fair Value Inputs Level1 · European government debt securities | 52 | 192 | -72.9% |
| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 53 | 192 | -72.4% |
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| Bank Time Deposits · Fair Value Measurements Recurring | 1 | 3 | -66.7% |
| European government debt securities · Fair Value Measurements Recurring | 52 | 192 | -72.9% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 53 | 202 | -73.8% |
| Receivables Net Current | 865 | 944 | -8.4% |
| Other Assets Current | 232 | 239 | -2.9% |
| Total Current Assets | 7,597 | 7,558 | +0.5% |
| Marketable Securities (Current) (Q) | — | — | — |
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| Nasdaq Clearing | 159 | 140 | +13.6% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 689 | — | — |
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| Non Us | 235 | — | — |
| US | 454 | — | — |
| Goodwill | 14,336 | — | — |
Show Business Segments breakouts |
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| Capital Access Platforms: | 4,282 | — | — |
| Financial Technology | 7,947 | — | — |
| Market Services | 2,107 | — | — |
| Operating Lease Right-of-Use Assets | 440 | — | — |
| Other Non-Current Assets | 972 | 793 | +22.6% |
| Total Assets | 30,654 | 30,560 | +0.3% |
| Intangible Assets | 5,390 | 5,870 | -8.2% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer Relationships | 4,349 | 4,625 | -6.0% |
| Developed Technology Rights | 738 | 936 | -21.2% |
| Foreign currency translation adjustment | -54 | -70 | +22.9% |
| Trade names and other | 357 | 379 | -5.8% |
| Other Assets | |||
| Intangible Assets Net Excluding Goodwill | 6,620 | 7,072 | -6.4% |
| Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current | 256 | 289 | -11.4% |
| Employee Related Liabilities Current | 313 | 314 | -0.3% |
| Deferred Revenue (Current) | 719 | 663 | +8.4% |
| Other Liabilities Current | 236 | 229 | +3.1% |
| Default Funds And Margin Deposits Liabilities | 5,750 | 5,865 | -2.0% |
| Debt Current | 431 | 499 | -13.6% |
| Total Current Liabilities | 7,705 | 7,933 | -2.9% |
| Non-Current Liabilities | |||
| Long-Term Debt | 8,667 | 9,359 | -7.4% |
| Deferred Tax Liabilities | 1,564 | 1,566 | -0.1% |
| Operating Lease Liabilities | 454 | — | — |
| Other Non-Current Liabilities | 234 | 222 | +5.4% |
| Total Liabilities | 18,624 | 19,479 | -4.4% |
| Long-Term Debt | 8,667 | 9,359 | -7.4% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 6 | 6 | 0.0% |
| Additional Paid-In Capital | 5,351 | 5,477 | -2.3% |
| Treasury Stock Common Value | -710 | -643 | -10.4% |
| Accumulated Other Comprehensive Income | -1,847 | -1,952 | +5.4% |
| Retained Earnings | 9,223 | 8,184 | +12.7% |
| Total Stockholders' Equity | 12,023 | 11,072 | +8.6% |
| Minority Interest | 7 | 9 | -22.2% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 12,030 | 11,081 | +8.6% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | -1,847 | -1,952 | +5.4% |
| Additional Paid In Capital | 5,351 | 5,477 | -2.3% |
| Noncontrolling Interest | 7 | 9 | -22.2% |
| Retained Earnings | 9,223 | 8,184 | +12.7% |
| Total Nasdaq stockholders’ equity | 12,023 | 11,072 | +8.6% |
| Treasury Stock Common | -710 | -643 | -10.4% |
| Total Liabilities & Equity | 30,654 | 30,560 | +0.3% |
Cash Flow Statement
| Metric | YTD Q3 2025 | YTD Q3 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 122 | 105 | +16.2% |
| Deferred Income Taxes | 30 | -62 | +148.4% |
| Other Non-Cash Items | -1 | 39 | -102.6% |
| Increase Decrease In Receivables | 172 | -99 | +273.7% |
| Increase Decrease In Other Operating Assets | 67 | -43 | +255.8% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | -22 | -43 | +48.8% |
| Increase Decrease In Other Accounts Payable | -319 | -10 | -3090.0% |
| Increase Decrease In Employee Related Liabilities | -25 | 11 | -327.3% |
| Change in Deferred Revenue | -10 | 8 | -225.0% |
| Increase Decrease In Other Operating Liabilities | -14 | 50 | -128.0% |
| Net Cash from Operations | 1,630 | 1,234 | +32.1% |
| Investing Activities | |||
| Payments To Acquire Short Term Investments | -234 | -152 | -53.9% |
| Proceeds From Sale Maturity And Collection Of Shortterm Investments | 392 | 141 | +178.0% |
| Proceeds From Divestiture Of Businesses Net Of Cash Divested | 52 | — | — |
| Capital Expenditures | -177 | -147 | -20.4% |
| Payments For Proceeds From Default Funds And Margin Deposits | -419 | 237 | -276.8% |
| Other Investing Activities | -76 | -24 | -216.7% |
| Net Cash from Investing | -462 | 55 | -940.0% |
| Financing Activities | |||
| Repayments Of Long Term Debt | -726 | -340 | -113.5% |
| Share Repurchases | -330 | -145 | -127.6% |
| Payments Of Dividends | -448 | -403 | -11.2% |
| Proceeds From Issuance Of Common Stock | 28 | 21 | +33.3% |
| Payments Related To Employee Shares Withheld For Taxes | -63 | -56 | -12.5% |
| Increase Decrease In Default Fund Contributions And Margin Deposits | -847 | -1,320 | +35.8% |
| Net Cash from Financing | -2,386 | -2,537 | +6.0% |
| Supplemental | |||
| Interest Paid | 283 | 315 | -10.2% |
| Income Taxes Paid | 220 | 236 | -6.8% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 653 | -75 | +970.7% |
| Net Change in Cash | -565 | -1,323 | +57.3% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 4,441 | 5,795 | -23.4% |
| Restricted Cash And Equivalents In Default Funds And Margin Deposits | 3,744 | 5,487 | -31.8% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.