NASDAQ, INC. — financial highlightsNDAQ · Annual · Period ending Prepared research
Annual · 2025-01-01 → · Fiscal 2025 FY. Balance-sheet inputs are point-in-time values.
Prepared research · Sources checked · Calculated Sep 25, 2026, 6:51 AM UTC
| Metric | 2025-12-31 | 2024-12-31 | Basis & evidence |
|---|---|---|---|
| Revenue | 8,262,000,000 USD | 7,400,000,000 USD | reportedSEC sources |
| Net Income | 1,788,000,000 USD | 1,117,000,000 USD | reportedSEC sources |
| Net margin | 21.64 % | 15.09 % | calculatedNet income / reported revenue × 100; financial-company revenue follows its reported net-of-interest basisSEC sources |
| Operating Cash Flow | 2,255,000,000 USD | 1,939,000,000 USD | reportedSEC sources |
| Free cash flow | 1,989,000,000 USD | 1,732,000,000 USD | calculatedOperating cash flow − reported purchases of property, plant and equipmentSEC sources |
| Return on average equity | 15.27 % | 10.15 % | calculatedNet income / average beginning and ending equity × annualization factor × 100SEC sources |
Source filings, coverage & interpretation
- 10-K · 2026-02-12 · 0001628280-26-007703
- 10-Q · 2026-07-23 · 0001120193-26-000013
- 10-K · 2025-02-21 · 0001120193-25-000008
- Normalized standard SEC XBRL concepts, not a complete reproduction of the filed financial statements. Missing values are not zero.
- Values are unscaled USD, reported per-share units, percentages or ratios as labeled. Balance-sheet inputs are point-in-time observations; income and cash-flow inputs cover their stated durations.
- The latest filed values in the prepared model are used, including subsequent comparative revisions. Selecting an older reporting end does not create an as-filed historical vintage.
- Year-over-year changes require compatible periods. Percentage growth is not calculated from a zero or negative base; percentage-valued metrics change in percentage points.
- Reported inputs, calculated metrics and source-check dates remain separate. CFTC positioning, market prices and personal research assumptions are outside this summary.
- Securities brokers use common financials by default. Deposit-taking-bank ratios are not assumed to describe their business model.
The JSON includes the XBRL concepts, source values and periods used by these metrics. Open Sources & checks in the workspace for the full evidence history.
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