Nasdaq (NDAQ) EV to CFO (2010 - 2026)
Nasdaq's (NDAQ) EV to CFO came in at 19.41 for Q2 2026, down 9.4% from 21.42 a year earlier and down 6.4% from the prior quarter.
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Analysis
Nasdaq (NDAQ) EV to CFO (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EV to CFO at Nasdaq was 18.58, down 9.5% year-over-year; for FY2025, it was 24.27, up 7.7% from FY2024.
- Annual EV to CFO has increased for three consecutive years.
- In prior years, Nasdaq's EV to CFO was 22.53 in FY2024 (+16.5%), 19.35 in FY2023 (+11.9%), 17.29 in FY2022 (-45.6%) and 31.77 in FY2021 (+109.8%).
- The Q2 2026 figure stands as the lowest quarterly EV to CFO since Q4 2023.
- On a year-over-year basis, EV to CFO increased in five of the last eight quarters, with growth averaging 18.4%.
- The strongest year-over-year quarter for EV to CFO in the past five years was Q3 2024, with growth of 144.0%; the weakest was Q2 2022, with a decline of 52.9%.
- According to Business Quant data, EV to CFO for the three prior quarters was 20.72 (Q1 2026), 24.27 (Q4 2025) and 21.48 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 106.61 Bn | 94.70 Bn | - |
| 2 | Robinhood Markets | 91.70 Bn | 72.73 Bn | - |
| 3 | Intercontinental Exchange | 88.95 Bn | 82.69 Bn | - |
| 4 | Nasdaq | 54.22 Bn | 51.65 Bn | 1.50 Bn |
| 5 | Interactive Brokers | 38.25 Bn | 15.37 Bn | - |
| 6 | Cboe Global Markets | 33.42 Bn | 25.08 Bn | 731.60 Mn |
| 7 | LPL Financial Holdings | 25.64 Bn | 20.96 Bn | - |
| 8 | Tradeweb Markets | 25.45 Bn | 17.47 Bn | - |
| 9 | Circle Internet | 22.26 Bn | 16.14 Bn | 288.85 Mn |
| 10 | Xp | 16.07 Bn | -5.76 Bn | 105.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 19.41 |
| Mar 31, 2026 | 20.72 |
| Dec 31, 2025 | 24.27 |
| Sep 30, 2025 | 21.48 |
| Jun 30, 2025 | 21.42 |
| Mar 31, 2025 | 20.59 |
| Dec 31, 2024 | 22.53 |
| Sep 30, 2024 | 25.15 |
| Jun 30, 2024 | 20.00 |
| Mar 31, 2024 | 21.55 |
| Dec 31, 2023 | 19.35 |
| Sep 30, 2023 | 10.31 |
| Jun 30, 2023 | 11.07 |
| Mar 31, 2023 | 15.74 |
| Dec 31, 2022 | 17.29 |
| Sep 30, 2022 | 17.18 |
| Jun 30, 2022 | 15.30 |
| Mar 31, 2022 | 22.18 |
| Dec 31, 2021 | 31.77 |
| Sep 30, 2021 | 28.04 |
API Access
Nasdaq EV to CFO 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=ev-to-cfo&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "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=ev-to-cfo&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();