Nasdaq (NDAQ) EBITDA Margin (2009 - 2026)
Nasdaq's EBITDA Margin came in at 34.64% for Q2 2026, up 0.08 percentage points from 34.55% a year earlier but down 3.83 percentage points from the prior quarter.
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Analysis
Nasdaq (NDAQ) EBITDA Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Nasdaq reported EBITDA Margin of 36.94%, up 3.73 percentage points year-over-year; for FY2025, it came in at 35.86%, up 3.28 percentage points from FY2024.
- EBITDA Margin has increased in each of the last five years, with a five-year change of +10.33 percentage points (FY2020 to FY2025).
- Going back by year, EBITDA Margin was 32.58% in FY2024 (+1.23 pp), 31.35% in FY2023 (+2.08 pp), 29.26% in FY2022 (+0.06 pp) and 29.20% in FY2021 (+3.68 pp).
- The five-year range for quarterly EBITDA Margin is 26.04% (Q4 2022) to 38.47% (Q1 2026).
- Year-over-year, EBITDA Margin has increased for five consecutive quarters, with an average year-over-year change of +2.41 percentage points over the last eight quarters.
- The fastest year-over-year change in EBITDA Margin over five years came in Q3 2025 (a gain of 6.40 percentage points), and the weakest in Q4 2022 (a drop of 2.93 percentage points).
- Business Quant data shows NDAQ's EBITDA Margin at 38.47% (Q1 2026), 37.19% (Q4 2025) and 38.00% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 105.82 Bn | 93.92 Bn | - | 69.82% |
| 2 | Intercontinental Exchange | 89.41 Bn | 83.14 Bn | - | 49.29% |
| 3 | Robinhood Markets | 86.77 Bn | 67.81 Bn | - | 68.12% |
| 4 | Nasdaq | 52.58 Bn | 50.01 Bn | 1.50 Bn | 34.64% |
| 5 | Interactive Brokers | 36.48 Bn | 13.59 Bn | - | 139.87% |
| 6 | Cboe Global Markets | 32.16 Bn | 23.82 Bn | 731.60 Mn | 34.94% |
| 7 | LPL Financial Holdings | 25.21 Bn | 20.53 Bn | - | 15.45% |
| 8 | Tradeweb Markets | 24.34 Bn | 16.35 Bn | - | 54.88% |
| 9 | Circle Internet | 20.17 Bn | 14.05 Bn | 288.85 Mn | 9.16% |
| 10 | Xp | 15.94 Bn | -5.89 Bn | 105.39 Mn | 118.82% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 34.64% |
| Mar 31, 2026 | 38.47% |
| Dec 31, 2025 | 37.19% |
| Sep 30, 2025 | 38.00% |
| Jun 30, 2025 | 34.55% |
| Mar 31, 2025 | 33.54% |
| Dec 31, 2024 | 33.00% |
| Sep 30, 2024 | 31.60% |
| Jun 30, 2024 | 32.14% |
| Mar 31, 2024 | 33.75% |
| Dec 31, 2023 | 29.02% |
| Sep 30, 2023 | 34.11% |
| Jun 30, 2023 | 31.19% |
| Mar 31, 2023 | 31.38% |
| Dec 31, 2022 | 26.04% |
| Sep 30, 2022 | 29.61% |
| Jun 30, 2022 | 30.73% |
| Mar 31, 2022 | 30.75% |
| Dec 31, 2021 | 28.97% |
| Sep 30, 2021 | 31.17% |
API Access
Nasdaq EBITDA Margin 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-margin&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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-margin&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();