Nasdaq (NDAQ) EV to EBITDA (2010 - 2026)
Nasdaq's EV to EBITDA came in at 13.48 for Q2 2026, down 27.9% from 18.71 a year earlier and down 12.1% from the prior quarter.
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Analysis
Nasdaq (NDAQ) EV to EBITDA (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Nasdaq reported EV to EBITDA of 12.91, down 28.0% year-over-year; for FY2025, it was 18.47, up 1.9% from FY2024.
- EV to EBITDA has increased in each of the last three years.
- Going back by year, EV to EBITDA was 18.12 in FY2024 (+5.0%), 17.26 in FY2023 (+6.6%), 16.19 in FY2022 (-19.1%) and 20.02 in FY2021 (+51.6%).
- The Q2 2026 figure represents the lowest quarterly EV to EBITDA since Q3 2023.
- Year-over-year, EV to EBITDA increased in four of the last eight quarters, with growth averaging 7.7%.
- The fastest year-over-year change in EV to EBITDA over five years came in Q3 2024 (growth of 87.8%), and the weakest in Q3 2023 (a decline of 33.4%).
- Business Quant data shows NDAQ's EV to EBITDA at 15.34 (Q1 2026), 18.47 (Q4 2025) and 17.65 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn |
| 10 | Xp | 16.54 Bn | -5.29 Bn | 105.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.48 |
| Mar 31, 2026 | 15.34 |
| Dec 31, 2025 | 18.47 |
| Sep 30, 2025 | 17.65 |
| Jun 30, 2025 | 18.71 |
| Mar 31, 2025 | 16.73 |
| Dec 31, 2024 | 18.11 |
| Sep 30, 2024 | 18.70 |
| Jun 30, 2024 | 16.15 |
| Mar 31, 2024 | 18.03 |
| Dec 31, 2023 | 17.26 |
| Sep 30, 2023 | 9.96 |
| Jun 30, 2023 | 10.48 |
| Mar 31, 2023 | 14.33 |
| Dec 31, 2022 | 16.19 |
| Sep 30, 2022 | 14.94 |
| Jun 30, 2022 | 13.58 |
| Mar 31, 2022 | 16.27 |
| Dec 31, 2021 | 20.01 |
| Sep 30, 2021 | 19.09 |
API Access
Nasdaq EV to 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=ev-to-ebitda&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-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=ev-to-ebitda&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();