Nasdaq (NDAQ) Debt Ratio (2009 - 2026)
Nasdaq's Debt Ratio came in at 0.32 for Q2 2026, up 6.1% from 0.30 a year earlier but down 2.3% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Debt Ratio (2009 - 2026) Analysis & Trends
For FY2025, Nasdaq's Debt Ratio was 0.29, down 7.0% from FY2024.
- Going back by year, Debt Ratio was 0.31 in FY2024 (-3.7%), 0.32 in FY2023 (+25.1%), 0.26 in FY2022 (-10.7%) and 0.29 in FY2021 (-6.0%).
- The five-year range for quarterly Debt Ratio is 0.23 (Q3 2022) to 0.40 (Q3 2023).
- Year-over-year, Debt Ratio increased in two of the last eight quarters, with an average decline of 4.8%.
- The fastest year-over-year change in Debt Ratio over five years came in Q3 2023 (growth of 70.2%), and the weakest in Q3 2022 (a decline of 27.3%).
- Business Quant data shows NDAQ's Debt Ratio at 0.33 (Q1 2026), 0.29 (Q4 2025) and 0.30 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 101.14 Bn | 82.23 Bn | - | - |
| 2 | Bank of New York Mellon | 98.14 Bn | 37.51 Bn | - | 0.01 |
| 3 | Cme | 94.12 Bn | 94.12 Bn | - | 0.02 |
| 4 | Intercontinental Exchange | 85.35 Bn | 79.16 Bn | - | 0.11 |
| 5 | Nasdaq | 51.71 Bn | 49.14 Bn | 1.50 Bn | 0.32 |
| 6 | State Street | 47.94 Bn | 47.94 Bn | - | - |
| 7 | Interactive Brokers | 38.49 Bn | 31.95 Bn | - | 0.00 |
| 8 | Northern Trust | 30.99 Bn | 30.99 Bn | - | 0.05 |
| 9 | Cboe Global Markets | 28.76 Bn | 20.41 Bn | 731.60 Mn | 0.14 |
| 10 | LPL Financial Holdings | 24.08 Bn | 19.40 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.32 |
| Mar 31, 2026 | 0.33 |
| Dec 31, 2025 | 0.29 |
| Sep 30, 2025 | 0.30 |
| Jun 30, 2025 | 0.30 |
| Mar 31, 2025 | 0.30 |
| Dec 31, 2024 | 0.31 |
| Sep 30, 2024 | 0.32 |
| Jun 30, 2024 | 0.32 |
| Mar 31, 2024 | 0.33 |
| Dec 31, 2023 | 0.32 |
| Sep 30, 2023 | 0.40 |
| Jun 30, 2023 | 0.39 |
| Mar 31, 2023 | 0.25 |
| Dec 31, 2022 | 0.26 |
| Sep 30, 2022 | 0.23 |
| Jun 30, 2022 | 0.25 |
| Mar 31, 2022 | 0.28 |
| Dec 31, 2021 | 0.29 |
| Sep 30, 2021 | 0.32 |
API Access
Nasdaq Debt Ratio 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=debt-ratio&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "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=debt-ratio&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();