simplyStocks
Nasdaq, Inc.
NDAQ · NASDAQFinancials
The economic chain
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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
~$56B
P/E ratio
~28×
Div yield
~1.2%
Net revenue (2024)
$4.6B
Rev. growth
+19%
ARR (recurring)
~$2.8B
Profit margin
~24%
Free cash flow
~$1.4B
In plain English
Nasdaq is no longer just a stock market. It runs the Nasdaq exchanges (the #2 US market plus the Nordic and Baltic bourses), licenses the Nasdaq-100 index behind Invesco's giant QQQ ETF — and, after buying Adenza (~$10.5B) and Verafin (~$2.75B), has become a major financial-technology vendor selling trading, risk, regulatory and anti-financial-crime software to banks and exchanges worldwide. Roughly three-quarters of its ~$4.6B revenue now comes from recurring 'solutions', not trading.
In simple terms
What Nasdaq, Inc. really sells
Nasdaq is no longer just a stock market. It runs the Nasdaq exchanges (the #2 US market plus the Nordic and Baltic bourses), licenses the Nasdaq-100 index behind Invesco's giant QQQ ETF — and, after buying Adenza (~$10.5B) and Verafin (~$2.75B), has become a major financial-technology vendor selling trading, risk, regulatory and anti-financial-crime software to banks and exchanges worldwide. Roughly three-quarters of its ~$4.6B revenue now comes from recurring 'solutions', not trading.
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Risk read
SteadierMore speculative
Why this rating?