Revenue segments as reported by the company.

Investment Intelligence

Corporate Platforms

Market Services

Market Platforms

Capital Access Platforms

Anti-Financial Crime

Other Revenues

Market Technology

Financial Technology

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Compensation and benefits

Professional and contract services

Computer operations and data communications

Occupancy

General, administrative and other

Marketing and advertising

Depreciation and amortization

Regulatory

Merger and strategic initiatives

Restructuring charges

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Nasdaq

Nasdaq, Inc. is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services. The Market Technology segment is a global technology solutions provider and partner to exchanges, clearing organizations, central securities depositories, regulators, banks, brokers, buy-side firms, and corporate businesses. The Investment Intelligence segment includes the firm's Market Data, Index, and Analytics businesses. The Market Data business sells and distributes historical and real-time market data to the sell-side, the institutional investing community, retail online brokers, proprietary trading shops, other venues, Internet portals, and data distributors. The Index business develops and licenses Nasdaq-branded indexes and financial products. The Analytics business provides asset managers, investment consultants, and institutional asset owners with investment insights and workflow solutions. The Corporate Platforms segment includes the company's Listing Services and IR & ESG Services businesses. These businesses deliver critical capital market and ESG solutions across the lifecycle of public and private companies. The Market Services segment consists of the Equity Derivative Trading and Clearing, Cash Equity Trading, FICC, and Trade Management Services businesses. It operates multiple exchanges and other marketplace facilities across several asset classes, including derivatives, commodities, cash equity, debt, structured products and ETPs. The company was founded by Gordon S. Macklin in 1971 and is headquartered in New York, NY.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Nasdaq reports solid Q4 growth, eyes Tier 1 bank conversions

Nasdaq's Q4 2022 performance reflects steady growth, operational efficiency, and strategic investments in key divisions and sustainable initiatives.
While facing market challenges and revenue uncertainties, Nasdaq remains optimistic about growth opportunities through client engagement and strategic focus areas.
The company's focus on recurring revenues, SaaS offerings, and client conversions positions it well for 2023, with a strong outlook for sustained growth and value creation.

Nasdaq reports solid Q1 earnings, eyes growth in AI and AFC sectors

Nasdaq's Q1 performance reflects revenue growth and strategic milestones, with a focus on technology modernization and AI integration.
While facing challenges in certain segments, Nasdaq's strengths in trading services, ESG solutions, and SaaS revenues position it for future success.
Opportunities in expanding AFC capabilities, M&A activities, crypto custody launch, and pricing adjustments signal a proactive approach to driving growth and innovation.

Nasdaq posts strong Q2 results, eyes global expansion and Adenza's growth

Nasdaq reports solid Q2 performance with revenue growth and strategic transformations post-Adenza acquisition. Strengths include Adenza's performance, Data Link platform growth, and Verafin's positive impact. Challenges include regulatory uncertainties and revenue variability. Opportunities lie in post-acquisition plans, global expansion, and Adenza's growth potential.

Nasdaq reports solid Q3 growth amidst market challenges and transitions

Nasdaq's Q3 performance reflects solid revenue growth, particularly in Solutions businesses, despite market uncertainties and leadership transitions.
The company's strengths lie in its market modernization initiatives, strong presence in key divisions, and accelerating organic growth, positioning it for future success.
Challenges such as market unpredictability, regulatory changes, and strategic transitions are balanced by growth opportunities in Anti-Financial Crime, Adenza integration, and market innovation.
Overall, Nasdaq's strategic focus on innovation, client expansion, and operational efficiency underscores its resilience and potential for sustained growth in a dynamic market environment.

Nasdaq reports robust Q4 earnings, eyes growth through innovation

Nasdaq's strong Q4 2023 performance, driven by revenue growth and operational efficiency, sets a positive trajectory for future growth and innovation
Challenges in listings revenue and retention ratios for Adenza require strategic focus and sustained efforts to navigate through 2024
Opportunities in cloud adoption, digital assets partnerships, and capital allocation strategy post-Adenza deal offer avenues for growth and value creation
Overall, Nasdaq's focus on integration, client engagement, and technology advancement positions the company well for continued success and market leadership

Nasdaq reports robust Q1 performance and strategic growth initiatives

Nasdaq's Q1 performance reflects strong revenue growth and operational efficiency, supported by strategic client engagements.
While facing challenges in certain business segments, the company's focus on regulatory compliance and client solutions offers growth potential.
With a diverse product portfolio and commitment to innovation, Nasdaq is well-positioned to navigate market dynamics and drive future growth.

Nasdaq reports robust Q2 earnings, eyes growth in Europe

Nasdaq's Q2 2024 performance reflects solid revenue growth, particularly in key segments like Solutions, Capital Access, and Financial Technology.
The company's strategic priorities of integration and innovation are driving progress in expense management and operational efficiency.
While facing challenges of rising expenses and economic headwinds, Nasdaq remains focused on delivering sustainable growth and profitability for shareholders.

Nasdaq reports robust Q3 earnings, eyes growth through innovation

Nasdaq's Q3 2024 performance showcased strong revenue growth and strategic progress across its divisions, underpinned by a positive macroeconomic backdrop.
While facing challenges such as expense management and revenue projections, Nasdaq's focus on innovation and client satisfaction presents opportunities for sustained growth.
The company's record quarter in Market Services and advancements in technology underscore its resilience and potential for future expansion.
Overall, Nasdaq's performance reflects a balanced approach to navigating market dynamics and driving value for shareholders.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Nasdaq, Inc. is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment delivers liquidity, transparency, and integrity to the corporate issuer and investment community by empowering clients to effectively navigate the capital markets, achieve their sustainability goals, and drive governance excellence. The Financial Technology segment offers platforms that improve the liquidity, transparency, and integrity of the global economy by architecting and operating the markets. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income, currency, and commodities trading. The company was founded by Gordon S. Macklin in 1971 and is headquartered in New York, NY.

NEW YORK, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for December 2021, as well as quarterly volumes, estimated revenue capture, number of listings and index statistics for the quarter ended December 31, 2021 on its investor relations website. A data sheet showing the monthly volumes and quarterly capture rates can be found at: http://ir.nasdaq.com/financials/volume-statistics.

Nasdaq December 2021 Volumes and 4Q21 Statistics

NASDAQ stock has gained 47% since the end of 2020, and at its current price of $195 per share, it is almost 9% below its fair value of $215 – Trefis' estimate for NASDAQ's valuation. While the exchange outperformed the street expectations in the third-quarter 2021 results, its stock has lost 2%.

NASDAQ Stock Has Limited Upside

Nasdaq (NDAQ) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Can Nasdaq (NDAQ) Keep the Earnings Surprise Streak Alive?

NEW YORK, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) has scheduled its Fourth Quarter 2021 financial results announcement.

Nasdaq to Hold Fourth Quarter 2021 Investor Conference Call

NEW YORK, Dec. 27, 2021 (GLOBE NEWSWIRE) -- At the end of the settlement date of December 15, 2021, short interest in 3,103 Nasdaq Global MarketSM securities totaled 8,912,688,445 shares compared with 8,555,941,286 shares in 3,036 Global Market issues reported for the prior settlement date of November 30, 2021. The mid-December short interest represents 2.40 days compared with 2.46 days for the prior reporting period.

Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date December 15, 2021

Accelerating organic growth, focus on ramping up on-trading revenue base, strategic buyouts to capitalize on growing markets opportunities, effective capital deployment and upbeat guidance continue to drive Nasdaq (NDAQ).

Nasdaq (NDAQ) Rallies 60% YTD: More Room for Upside Left?

We have discussed extensively that technology-related stocks have led the S&P 500.  In fact, technology-related stocks make up nearly 45% of the market index's weighting, causing the index to be substantially out of balance.

The Nasdaq has a Weight Problem

Cboe Global Markets

CME Group

Intercontinental Exchange

OTC Markets Group Inc.

Product innovation, increased market volatility and a strategic economic market model are expected to aid Securities and Exchanges stocks like CBOE, CME, ICE, NDAQ and OTCM. However, compliance with regulations remains a challenge.

5 Securities and Exchanges Industry Stocks to Benefit From Increased Trading

Leading U.S. exchange by number of IPOs and proceeds raised for the third consecutive year

Nasdaq Welcomed 743 IPOs and 35 Exchange Transfers in 2021

Equinix

REDWOOD CITY, Calif., Dec. 15, 2021 /PRNewswire/ --  Equinix, Inc.  (Nasdaq: EQIX), the world's digital infrastructure company™, today announced a multi-year partnership with Nasdaq, Inc. (Nasdaq: NDAQ) to scale the Equinix NY11 data center in Carteret, New Jersey to support the build out of Nasdaq's cloud infrastructure.

Equinix Collaborates with Nasdaq to Scale Digital Infrastructure

NEW YORK, Dec. 10, 2021 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced the results of the annual reconstitution of the Nasdaq Biotechnology Index (Nasdaq: NBI), which will become effective prior to market open on Monday, December 20, 2021.

Annual Changes to the Nasdaq Biotechnology Index

NEW YORK, Dec. 09, 2021 (GLOBE NEWSWIRE) -- At the end of the settlement date of November 30, 2021, short interest in 3,036 Nasdaq Global MarketSM securities totaled 8,555,941,286 shares compared with 8,508,037,748 shares in 2,993 Global Market issues reported for the prior settlement date of November 15, 2021. The end-of-November short interest represent 2.46 days average daily Nasdaq Global Market share volume for the reporting period, compared with 2.59 days for the prior reporting period.

Nasdaq Announces End-of-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date November 30, 2021

Zurich/ Stockholm, December 7, 2021 – Nasdaq (Nasdaq: NDAQ) today announced that 21Shares has listed its first two physically backed exchange traded notes (ETNs) on Nasdaq Stockholm. The two instruments listed have Bitcoin (ISIN: CH0454664001) and Ethereum (ISIN: CH0454664027) respectively as underlying assets. In conjunction with the listing, Nasdaq launches a new segment for ETNs, securities listed on a regulated exchange tracking an underlying asset with liquidity supported by a market maker.

Nasdaq Welcomes 21Shares as First Issuer on its New Segment for Exchange Traded Notes

The disappointing November jobs report added to the uncertainty as investors try to chart the path of Fed policy.

Nasdaq falls nearly 2% as US stocks battered by Omicron volatility

Nasdaq (NDAQ) November 2021 volume reflects increase in U.S. equity options volume as well as higher European equity volume and European fixed income volume.

Nasdaq (NDAQ) November Volumes Increase Year Over Year

NEW YORK, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for November 2021 on its investor relations website. A data sheet showing the monthly volumes and quarterly capture rates can be found at: http://ir.nasdaq.com/financials/volume-statistics.

Nasdaq November 2021 Volumes

Amazon

Nasdaq Inc (NASDAQ: NDAQ) and Amazon.com Inc's (NASDAQ: AMZN) Amazon Web Services Inc forged a multi-year collaboration to build the next generation of cloud-enabled infrastructure for the world's capital markets.  Nasdaq aims to migrate its North American markets to AWS starting 2022 in a phased approach, beginning with Nasdaq MRX, a U.S. options market.

Nasdaq, AWS Collaborate: What You Need To Know

Nasdaq Will Begin Migrating Markets to AWS Starting in 2022

Nasdaq and AWS Partner to Transform Capital Markets

Stock markets are trying to rebound after a steep drop last Friday.

Here Are Monday's 2 Must-Watch Nasdaq Stock Winners

NEW YORK, Nov. 24, 2021 (GLOBE NEWSWIRE) -- At the end of the settlement date of November 15, 2021, short interest in 2,993 Nasdaq Global MarketSM securities totaled 8,508,037,748 shares compared with 8,884,071,135 shares in 2,930 Global Market issues reported for the prior settlement date of October 29, 2021. The mid-October short interest represents 2.59 days compared with 3.12 days for the prior reporting period.

Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date November 15, 2021

NASDAQ stock (NASDAQ: NDAQ) has gained 56% YTD, and at its current price of $208 per share, it is almost 3% below its fair value of $215 – Trefis' estimate for NASDAQ's valuation. The company recently released its third-quarter results, with revenues and earnings surpassing the consensus estimates.

NASDAQ Stock Is Trading Close To Its Fair Value

NEW YORK, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) has been named for the sixth consecutive year to the Dow Jones Sustainability Index (DJSI), one of the most prestigious environmental, social, and governance (ESG) ranking efforts. Nasdaq maintains its industry leadership as the only stock exchange operator selected for inclusion in the 2021 North America index, and was among eight diversified financial services companies selected from the region.

Nasdaq Named to Dow Jones Sustainability Index for the Sixth Consecutive Year

Nasdaq (NDAQ) reported earnings 30 days ago. What's next for the stock?

Nasdaq (NDAQ) Up 5% Since Last Earnings Report: Can It Continue?

Investors should be paying close attention to this company's ongoing software-as-a-service transformation.

Wall Street Is Missing Out on This Surprising SaaS Story

Providing transparency into a meaningful segment of today's financial markets and immediate availability of daily and historical retail trading activity Providing transparency into a meaningful segment of today's financial markets and immediate availability of daily and historical retail trading activity

News for Nasdaq Stock (NDAQ)