NASDAQ, INC.

10-K & 10-Q Filings

Nasdaq is a global technology company that serves various clients, including corporate issuers, investment managers, banks, brokers, and exchange operators, in navigating and interacting with the global capital markets and financial system. The company's purpose is to advance economic progress for all and aims to be the trusted fabric of the world's financial system. Nasdaq's business strategy focuses on maximizing resources, people, and capital allocated to its largest growth opportunities in anti-financial crime and compliance solutions, marketplace technology, workflow for investment managers and asset owners, and insight solutions. Nasdaq's business segments include 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 delivers world-leading platforms that improve the liquidity, transparency, and integrity of the global economy by architecting and operating the world's best markets. Nasdaq's website is ir.nasdaq.com, and its ticker symbol is NDAQ. The company was founded in 1971 as a subsidiary of FINRA and became an independent registered national securities exchange in 2007. In 2008, Nasdaq combined its business with OMX AB, expanding its operations globally. In 2023, Nasdaq acquired Adenza, a provider of mission-critical risk management, regulatory reporting, and capital markets software to the financial services industry.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3438.00
3119.00
3211.00
3500.00
3403.00
3705.00
3965.00
4278.00
4165.00
5526.00
5845.00
6097.00
5780.00
1497.00
1566.00
4.42%4.61%Net Interest Income (+)
$-119.00
-97.00
-111.00
-117.00
-111.00
-135.00
-143.00
-150.00
-124.00
-101.00
-125.00
-129.00
-284.00
-36.00
-108.00
-200.00%Interest Expense (-)
$119.00
97.00
111.00
117.00
111.00
135.00
143.00
150.00
124.00
101.00
125.00
129.00
284.00
36.00
108.00
7.52%200.00%Non Interest Income (+)
$3557.00
3216.00
3322.00
3617.00
3514.00
3840.00
4108.00
33.00
27.00
84.00
Selling, General & Administrative (-)
$24.00
26.00
30.00
32.00
28.00
30.00
31.00
37.00
39.00
39.00
57.00
51.00
47.00
9.00
11.00
5.76%22.22%Marketing Expenses (-)
$24.00
26.00
30.00
32.00
28.00
30.00
31.00
37.00
39.00
39.00
57.00
51.00
47.00
9.00
11.00
5.76%22.22%Depreciation & Amortization (-)
$109.00
104.00
122.00
137.00
138.00
170.00
188.00
210.00
190.00
202.00
278.00
258.00
323.00
69.00
155.00
9.47%124.64%Non-recurring Operating Expenses (-)
$38.00
44.00
45.00
130.00
182.00
695.00
44.00
21.00
69.00
81.00
118.00
97.00
228.00
20.00
35.00
16.10%75.00%Operating Expenses (-)
$994.00
973.00
1207.00
1313.00
1370.00
1438.00
1429.00
1498.00
1518.00
1669.00
1979.00
2018.00
2317.00
502.00
707.00
7.31%40.84%Operating Income/Loss (+)
$696.00
690.00
688.00
754.00
720.00
839.00
999.00
1028.00
1017.00
1234.00
1441.00
1564.00
1578.00
412.00
410.00
7.06%-0.49%Non-operating Income/Expense (+)
$-4.00
-5.00
37.00
6.00
21.00
5.00
24.00
35.00
99.00
79.00
134.00
40.00
107.00
20.00
10.00
-50.00%Earnings before Tax (+)
$573.00
548.00
600.00
594.00
630.00
136.00
880.00
1064.00
1019.00
1212.00
1534.00
1475.00
1401.00
396.00
312.00
7.74%-21.21%Tax Expense (-)
$190.00
199.00
216.00
181.00
203.00
28.00
146.00
606.00
245.00
279.00
347.00
352.00
344.00
95.00
79.00
5.07%-16.84%Income/Loss (Continuing Operations) (+)
$383.00
349.00
384.00
413.00
427.00
108.00
734.00
458.00
774.00
933.00
1187.00
1123.00
1057.00
301.00
233.00
8.83%-22.59%Profit/Loss (+)
$383.00
349.00
384.00
413.00
427.00
108.00
734.00
1123.00
1057.00
301.00
233.00
8.83%-22.59%Net Income/Loss (NCI) (-)
$-4.00
-3.00
-1.00
-1.00
-1.00
-2.00
-2.00
-1.00
-1.00
0.00%Net Income/Loss (+)
$387.00
352.00
385.00
414.00
428.00
108.00
734.00
458.00
774.00
933.00
1187.00
1125.00
1059.00
302.00
234.00
8.75%-22.52%Net Income/Loss (Common) (+)
$387.00
352.00
385.00
414.00
428.00
108.00
734.00
458.00
774.00
933.00
1187.00
1125.00
1059.00
302.00
234.00
8.75%-22.52%EPS (Basic)
$2.20
2.09
2.30
2.45
2.56
0.65
4.41
2.77
4.69
5.67
7.15
2.28
2.10
0.62
0.41
-0.39%-33.87%EPS (Diluted)
$2.15
2.04
2.25
2.39
2.50
0.64
4.33
2.73
4.63
5.59
7.05
2.26
2.08
0.61
0.40
-0.28%-34.43%Weighted Avg Shares (Basic)
173.39
165.68
169.43
168.83
163.89
166.75
166.56
165.42
165.01
164.80
164.41
489.00
575.21
490.77
576.53
10.51%17.48%Cash
$549.00
582.00
509.00
476.00
357.00
418.00
399.00
586.00
362.00
2782.00
422.00
524.00
473.00
430.00
409.00
-1.23%-4.88%Short-term Investments
$279.00
223.00
162.00
174.00
201.00
245.00
235.00
268.00
291.00
Receivables
$308.00
333.00
393.00
389.00
316.00
429.00
423.00
384.00
422.00
566.00
588.00
677.00
929.00
666.00
925.00
9.64%38.89%Securities & Long-term Investments
$105.00
25.00
195.00
208.00
181.00
188.00
197.00
173.00
4.97%-12.18%Property, Plant & Equipment (Net)
$193.00
211.00
268.00
292.00
323.00
362.00
400.00
376.00
730.00
856.00
875.00
976.00
978.00
956.00
975.00
14.48%1.99%Goodwill & Intangibles
$6709.00
6985.00
8572.00
7615.00
7354.00
8121.00
9054.00
8663.00
8615.00
9105.00
11246.00
10680.00
21555.00
10648.00
21265.00
10.22%99.71%Other Assets
$5948.00
773.00
2673.00
3141.00
3310.00
4575.00
5275.00
5423.00
3504.00
4475.00
6776.00
7830.00
8171.00
7878.00
6520.00
2.68%-17.24%Assets (Total)
$14091.00
9132.00
12577.00
12087.00
11861.00
14150.00
15786.00
15700.00
13924.00
17979.00
20115.00
20868.00
32294.00
20775.00
30267.00
7.16%45.69%Accounts Payable
$296.00
283.00
382.00
332.00
329.00
382.00
347.00
199.00
336.00
402.00
437.00
428.00
635.00
340.00
454.00
6.57%33.53%Debt (Current)
$45.00
45.00
45.00
480.00
875.00
391.00
1018.00
664.00
291.00
347.00
224.00
16.83%-35.45%Debt (Non-current)
$2072.00
1931.00
2589.00
2313.00
2364.00
3603.00
4207.00
2956.00
3327.00
5541.00
4812.00
4735.00
10163.00
4762.00
9765.00
14.17%105.06%Other Liabilities
$6692.00
1664.00
3377.00
3648.00
3559.00
4735.00
4865.00
6221.00
4231.00
5600.00
7443.00
8877.00
10378.00
9147.00
9005.00
3.72%-1.55%Liabilities (Total)
$9105.00
3923.00
6393.00
6293.00
6252.00
8720.00
9899.00
10251.00
8285.00
11543.00
13710.00
14704.00
21467.00
14596.00
19448.00
7.41%33.24%Treasury Stock
$860.00
1058.00
1005.00
41.00
111.00
176.00
247.00
297.00
336.00
376.00
437.00
515.00
587.00
555.00
611.00
-3.13%10.09%Retained Earnings
$2391.00
2678.00
2976.00
3292.00
3571.00
3479.00
3970.00
4558.00
5027.00
5628.00
6465.00
7207.00
7825.00
7411.00
7932.00
10.38%7.03%AOCI
$-350.00
-185.00
-67.00
-682.00
-864.00
-979.00
-862.00
-1530.00
-1686.00
-1368.00
-1587.00
-1991.00
-1924.00
-2006.00
-2044.00
-1.89%Shareholder's Equity
$4986.00
5209.00
6184.00
5794.00
5609.00
5430.00
5887.00
5449.00
5639.00
6436.00
6405.00
6164.00
10827.00
6179.00
10819.00
6.68%75.09%Liabilities & Equity
$14091.00
9132.00
12577.00
12087.00
11861.00
14150.00
15786.00
15700.00
13924.00
17979.00
20115.00
20868.00
32294.00
20775.00
30267.00
7.16%45.69%Net Income/Loss
$383.00
349.00
384.00
413.00
427.00
108.00
734.00
458.00
774.00
933.00
1187.00
1123.00
1057.00
301.00
233.00
8.83%-22.59%Depreciation & Amortization
$109.00
104.00
122.00
137.00
138.00
170.00
188.00
210.00
190.00
202.00
278.00
258.00
323.00
69.00
155.00
9.47%124.64%Increase/Decrease in Working Capital
$-80.00
6.00
-13.00
1.00
15.00
45.00
103.00
-103.00
48.00
9.00
469.00
-168.00
-39.00
-143.00
-90.00
37.06%Share-based Compensation
$36.00
46.00
47.00
62.00
68.00
86.00
70.00
69.00
79.00
87.00
90.00
106.00
122.00
26.00
30.00
10.71%15.38%Adjustments to Reconcile Net Income
$286.00
245.00
190.00
274.00
258.00
614.00
175.00
570.00
189.00
319.00
-104.00
583.00
639.00
264.00
297.00
6.93%12.50%Net Cash (Operating)
$669.00
594.00
574.00
687.00
685.00
722.00
909.00
1028.00
963.00
1252.00
1083.00
1706.00
1696.00
565.00
530.00
8.06%-6.19%Capital Expenditure
$647.00
500.00
1646.00
142.00
386.00
1645.00
892.00
-27.00
237.00
226.00
2434.00
195.00
5917.00
54.00
35.00
20.25%-35.19%Net Cash (Investing)
$-146.00
-128.00
-1189.00
-155.00
-441.00
-1657.00
-890.00
196.00
-240.00
-231.00
-2653.00
49.00
-5994.00
-133.00
-232.00
-74.44%Increase/Decrease in Debt
$-248.00
-145.00
606.00
-235.00
137.00
1300.00
420.00
-320.00
-419.00
1948.00
442.00
-318.00
4977.00
-317.00
-407.00
-28.39%Increase/Decrease in Equity
$-90.00
-278.00
13.00
-138.00
-348.00
-46.00
-150.00
-377.00
-163.00
-172.00
-917.00
-610.00
-240.00
-159.00
Interest Expenses
$86.00
80.00
79.00
114.00
103.00
119.00
129.00
148.00
120.00
97.00
118.00
116.00
177.00
37.00
145.00
6.20%291.89%Dividends Paid
$
-65.00
87.00
98.00
149.00
200.00
243.00
280.00
305.00
320.00
350.00
383.00
441.00
98.00
127.00
29.59%Net Cash (Financing)
$-325.00
-485.00
547.00
-485.00
-362.00
1002.00
-53.00
-1027.00
-937.00
1383.00
1418.00
1036.00
4220.00
-613.00
-1875.00
-205.87%Cash Taxes Paid
$129.00
177.00
157.00
190.00
202.00
191.00
154.00
221.00
205.00
290.00
501.00
274.00
254.00
18.00
23.00
5.81%27.78%Effect of Exchange Rate
$-7.00
10.00
-4.00
-18.00
-8.00
-6.00
15.00
-10.00
-10.00
16.00
-331.00
-1293.00
202.00
29.00
-311.00
-1172.41%Increase/Decrease in Cash
$191.00
-9.00
-72.00
29.00
-126.00
-19.00
187.00
-224.00
2420.00
-483.00
1498.00
124.00
-152.00
-1888.00
-3.54%-1142.11%Cash (Beginning)
$315.00
506.00
497.00
398.00
427.00
418.00
399.00
586.00
362.00
5979.00
5496.00
6994.00
6994.00
7118.00
29.48%1.77%Cash (Ending)
$506.00
497.00
425.00
427.00
301.00
399.00
586.00
362.00
2782.00
5496.00
6994.00
7118.00
6842.00
5230.00
24.65%-23.56%NOPAT
$539.31
467.14
507.97
512.82
489.14
-339.30
824.17
814.48
812.40
938.74
970.37
1273.47
1291.91
393.27
379.78
7.55%-3.43%Operating Margin %
20.24%
22.12%
21.43%
21.54%
21.16%
22.65%
25.20%
24.03%
24.42%
22.33%
24.65%
25.65%
27.30%
27.52%
26.18%
NOPAT Margin %
15.69%
14.98%
15.82%
14.65%
14.37%
-9.16%
20.79%
19.04%
19.51%
16.99%
16.60%
20.89%
22.35%
26.27%
24.25%
Net Margin %
11.26%
11.29%
11.99%
11.83%
12.58%
2.91%
18.51%
10.71%
18.58%
16.88%
20.31%
18.45%
18.32%
20.17%
14.94%
Tax Rate %
22.51%
32.30%
26.17%
31.99%
32.06%
140.44%
17.50%
20.77%
20.12%
23.93%
32.66%
18.58%
18.13%
4.55%
7.37%
ROA
3.83%
5.12%
4.04%
4.24%
4.12%
-2.40%
5.22%
5.19%
5.83%
5.22%
4.82%
6.10%
4.00%
1.89%
1.25%
ROE
10.82%
8.97%
8.21%
8.85%
8.72%
-6.25%
14.00%
14.95%
14.41%
14.59%
15.15%
20.66%
11.93%
6.36%
3.51%
Equity Multiplier
2.83
1.75
2.03
2.09
2.11
2.61
2.68
2.88
2.47
2.79
3.14
3.39
2.98
3.36
2.80
Debt/Equity Ratio
0.42
0.38
0.43
0.40
0.42
0.66
0.80
0.70
0.66
0.86
0.91
0.88
0.97
0.83
0.92
Dividend Payout Ratio %
-13.91%
17.13%
19.11%
30.46%
58.94%
29.48%
34.38%
37.54%
34.09%
36.07%
30.08%
34.14%
24.92%
33.44%
Total Payout
$90.00
213.00
74.00
236.00
497.00
246.00
393.00
657.00
468.00
492.00
1267.00
993.00
681.00
257.00
127.00
18.37%-50.58%Payout Ratio %
16.69%
45.60%
14.57%
46.02%
101.61%
72.50%
47.68%
80.67%
57.61%
52.41%
130.57%
77.98%
52.71%
65.35%
33.44%