Nasdaq (NDAQ) EBITDA (2009 - 2026)
Nasdaq (NDAQ) recorded EBITDA of $897 million in Q3 2026, up 20.6% from $744 million a year earlier and up 2.3% from the prior quarter.
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Analysis
Nasdaq (NDAQ) EBITDA (2009 - 2026) Analysis & Trends
On a TTM basis, Nasdaq's EBITDA came in at $3.39 billion as of Sep 30, 2026, up 19.1% year-over-year; for FY2025, it was $2.96 billion, up 22.9% from FY2024.
- Annual EBITDA has increased for six straight years, with a five-year compound annual growth rate of 15.6% (FY2020 to FY2025).
- Across earlier years, EBITDA came in at $2.41 billion in FY2024 (+26.8%), $1.9 billion in FY2023 (+4.3%), $1.82 billion in FY2022 (+6.0%) and $1.72 billion in FY2021 (+19.7%).
- The Q3 2026 figure is the highest quarterly EBITDA in data going back to Q2 2009.
- On a year-over-year basis, EBITDA has increased for 13 consecutive quarters, with growth averaging 23.8% over the last eight quarters.
- Peak year-over-year performance for EBITDA in the last five years was growth of 40.2% in Q4 2024, against a decline of 6.3% in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $877 million (Q2 2026), $822 million (Q1 2026) and $790 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.59 Bn | 97.93 Bn | - | 1.22 Bn |
| 2 | Bank of New York Mellon | 100.46 Bn | 34.08 Bn | - | 6.85 Bn |
| 3 | Intercontinental Exchange | 97.18 Bn | 90.07 Bn | - | 1.81 Bn |
| 4 | Robinhood Markets | 72.63 Bn | 52.17 Bn | - | 860.00 Mn |
| 5 | Nasdaq | 59.89 Bn | 57.32 Bn | 1.48 Bn | 897.00 Mn |
| 6 | State Street | 45.42 Bn | 45.42 Bn | - | 3.67 Bn |
| 7 | Cboe Global Markets | 36.91 Bn | 27.39 Bn | 712.20 Mn | 562.00 Mn |
| 8 | Interactive Brokers | 34.30 Bn | 10.61 Bn | - | 2.79 Bn |
| 9 | Northern Trust | 31.46 Bn | 31.46 Bn | - | 2.40 Bn |
| 10 | Tradeweb Markets | 27.14 Bn | 18.94 Bn | - | 315.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 897.00 Mn |
| Jun 30, 2026 | 877.00 Mn |
| Mar 31, 2026 | 822.00 Mn |
| Dec 31, 2025 | 790.00 Mn |
| Sep 30, 2025 | 744.00 Mn |
| Jun 30, 2025 | 726.00 Mn |
| Mar 31, 2025 | 703.00 Mn |
| Dec 31, 2024 | 670.00 Mn |
| Sep 30, 2024 | 601.00 Mn |
| Jun 30, 2024 | 576.00 Mn |
| Mar 31, 2024 | 565.00 Mn |
| Dec 31, 2023 | 478.00 Mn |
| Sep 30, 2023 | 495.00 Mn |
| Jun 30, 2023 | 447.00 Mn |
| Mar 31, 2023 | 481.00 Mn |
| Dec 31, 2022 | 412.00 Mn |
| Sep 30, 2022 | 461.00 Mn |
| Jun 30, 2022 | 477.00 Mn |
| Mar 31, 2022 | 472.00 Mn |
| Dec 31, 2021 | 425.00 Mn |
API Access
Nasdaq EBITDA 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=ebitda&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();