Nasdaq (NDAQ) Cash from Operations (2009 - 2026)
Nasdaq (NDAQ) posted Cash from Operations of $521 million for Q3 2026, up 135.7% from $221 million a year earlier but down 26.7% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Cash from Operations (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Cash from Operations at Nasdaq was $2.55 billion, up 9.0% year-over-year; for FY2025, it came in at $2.26 billion, up 16.3% from FY2024.
- Annual Cash from Operations shows a five-year compound annual growth rate of 12.5% (FY2020 to FY2025).
- In prior years, Nasdaq's Cash from Operations was $1.94 billion in FY2024 (+14.3%), $1.7 billion in FY2023 (-0.6%), $1.71 billion in FY2022 (+57.5%) and $1.08 billion in FY2021 (-13.5%).
- Quarterly Cash from Operations has run from a low of $221 million in Q3 2025 to a high of $746 million in Q2 2025 over five years.
- On a year-over-year basis, Cash from Operations increased in five of the last eight quarters, with growth averaging 33.8%.
- The strongest year-over-year quarter for Cash from Operations in the past five years was Q2 2022, with growth of 413.7%; the weakest was Q3 2024, with a decline of 18.7%.
- According to Business Quant data, Cash from Operations for the three prior quarters was $711 million (Q2 2026), $689 million (Q1 2026) and $625 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 110.48 Bn | 98.81 Bn | 359.20 Mn | 1.09 Bn |
| 2 | Bank of New York Mellon | 101.69 Bn | 35.78 Bn | - | 4.73 Bn |
| 3 | Intercontinental Exchange | 98.41 Bn | 92.22 Bn | 1.22 Bn | 1.16 Bn |
| 4 | Robinhood Markets | 73.28 Bn | 52.89 Bn | - | 1.23 Bn |
| 5 | Nasdaq | 61.44 Bn | 58.88 Bn | 1.48 Bn | 521.00 Mn |
| 6 | State Street | 46.84 Bn | 43.46 Bn | - | 2.25 Bn |
| 7 | Cboe Global Markets | 38.04 Bn | 28.52 Bn | 712.20 Mn | 817.10 Mn |
| 8 | Interactive Brokers | 35.16 Bn | 18.81 Bn | - | 858.00 Mn |
| 9 | Northern Trust | 32.22 Bn | 32.22 Bn | - | 1.82 Bn |
| 10 | Tradeweb Markets | 30.09 Bn | 22.61 Bn | - | 347.32 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 521.00 Mn |
| Jun 30, 2026 | 711.00 Mn |
| Mar 31, 2026 | 689.00 Mn |
| Dec 31, 2025 | 625.00 Mn |
| Sep 30, 2025 | 221.00 Mn |
| Jun 30, 2025 | 746.00 Mn |
| Mar 31, 2025 | 663.00 Mn |
| Dec 31, 2024 | 705.00 Mn |
| Sep 30, 2024 | 244.00 Mn |
| Jun 30, 2024 | 460.00 Mn |
| Mar 31, 2024 | 530.00 Mn |
| Dec 31, 2023 | 417.00 Mn |
| Sep 30, 2023 | 300.00 Mn |
| Jun 30, 2023 | 414.00 Mn |
| Mar 31, 2023 | 565.00 Mn |
| Dec 31, 2022 | 494.00 Mn |
| Sep 30, 2022 | 232.00 Mn |
| Jun 30, 2022 | 375.00 Mn |
| Mar 31, 2022 | 605.00 Mn |
| Dec 31, 2021 | 384.00 Mn |
API Access
Nasdaq Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "NDAQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();