Nasdaq (NDAQ) FCF Margin (2009 - 2026)

Nasdaq (NDAQ) posted FCF Margin of 25.04% for Q2 2026, down 14.93% sequentially from 29.43% in Q1 2026, and down 766.0% YoY from 3.76% in Q2 2025.

Nasdaq (NDAQ) FCF Margin (2009 - 2026) Analysis & Trends

Nasdaq has reported FCF Margin for 18 years, with the latest figure at 25.04% in Q2 2026.

Quarterly FCF Margin fell 766.0% year-over-year to 25.04% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 22.29% (down 396.0% YoY) and the FY2025 annual result came in at 24.07%, up 67.0% from the prior year.
FCF Margin declined to 25.04% in Q2 2026 per NDAQ's latest filing, from 29.43% in the prior quarter.
Over five years, FCF Margin peaked at 251.68% in Q4 2023 and troughed at 7.76% in Q3 2025.
A 5-year average of 37.41% and a median of 27.62% in 2022 frame the typical range for FCF Margin.
The sharpest annual moves came in 2023 and 2024: FCF Margin soared 22260 bps in 2023, then tumbled 21990 bps in 2024.
Over 5 years, FCF Margin stood at 29.08% in 2022, then surged by 766 bps to 251.68% in 2023, then slumped by 87 bps to 31.77% in 2024, then retreated by 21 bps to 25.24% in 2025, then dropped by 1 bps to 25.04% in 2026.
According to Business Quant data, FCF Margin over the past three periods registered 25.04%, 29.43%, and 25.24% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	FCF Margin (Qtr)
1	S&P Global	127.61 Bn	123.47 Bn	2.98 Bn	33.79%
2	Cme	97.52 Bn	97.52 Bn	1.65 Bn	54.13%
3	Intercontinental Exchange	89.57 Bn	87.62 Bn	-	52.06%
4	Moodys	86.76 Bn	85.26 Bn	1.67 Bn	31.49%
5	Nasdaq	54.95 Bn	54.24 Bn	1.50 Bn	25.04%
6	Coinbase Global	45.29 Bn	36.50 Bn	1.16 Bn	16.17%
7	Msci	41.31 Bn	40.96 Bn	717.10 Mn	38.92%
8	Cboe Global Markets	30.95 Bn	28.56 Bn	731.60 Mn	-37.17%
9	TransUnion	16.34 Bn	15.50 Bn	765.00 Mn	23.34%
10	Factset Research Systems	10.81 Bn	10.51 Bn	310.73 Mn	40.78%

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