Nasdaq (NDAQ) FCF Margin (2009 - 2026)
Nasdaq recorded quarterly FCF Margin of 29.43% in Q1 2026, up 16.64% quarter-over-quarter from 25.24% in Q4 2025, and up 14.0% year-over-year from 25.82% in Q1 2025.
Nasdaq's FCF Margin history runs 18 years deep, the most recent figure standing at 29.43% for Q1 2026.
- In Q1 2026, FCF Margin rose 14.0% year-over-year to 29.43%; the TTM figure through Mar 2026 stood at 24.12% (up 40.0% YoY), while the FY2025 annual figure was 24.07%, up 67.0% from the prior year.
- FCF Margin came in at 29.43% for Q1 2026 at Nasdaq, up from 25.24% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 251.68% in Q4 2023 to a low of 7.76% in Q3 2025.
- A 5-year average of 38.15% and a median of 29.08% in 2022 frame the typical range for FCF Margin.
- Across the five-year window, FCF Margin surged 22260 bps in 2023 and slumped 21990 bps in 2024, its largest moves.
- Nasdaq's FCF Margin stood at 29.08% in 2022, then jumped by 766 bps to 251.68% in 2023, then sank by 87 bps to 31.77% in 2024, then fell by 21 bps to 25.24% in 2025, then rose by 17 bps to 29.43% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 29.43%, 25.24%, and 7.76% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | 24.21% |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 65.85% |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | 42.39% |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | 40.60% |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 29.43% |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | 12.93% |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 33.00% |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 152.48% |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | 1.53% |
| 10 | Factset Research Systems | 9.06 Bn | 8.78 Bn | 314.28 Mn | 30.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 29.43% |
| Dec 31, 2025 | 25.24% |
| Sep 30, 2025 | 7.76% |
| Jun 30, 2025 | 32.87% |
| Mar 31, 2025 | 29.29% |
| Dec 31, 2024 | 31.77% |
| Sep 30, 2024 | 9.88% |
| Jun 30, 2024 | 22.77% |
| Mar 31, 2024 | 29.33% |
| Dec 31, 2023 | 251.68% |
| Sep 30, 2023 | 18.13% |
| Jun 30, 2023 | 26.17% |
| Mar 31, 2023 | 34.25% |
| Dec 31, 2022 | 29.08% |
| Sep 30, 2022 | 12.27% |
| Jun 30, 2022 | 21.46% |
| Mar 31, 2022 | 37.13% |
| Dec 31, 2021 | 22.77% |
| Sep 30, 2021 | 14.74% |
| Jun 30, 2021 | 2.41% |
| Mar 31, 2021 | 21.32% |
| Dec 31, 2020 | 25.65% |
| Sep 30, 2020 | -4.53% |
| Jun 30, 2020 | 28.54% |
| Mar 31, 2020 | 26.16% |
| Dec 31, 2019 | 28.28% |
| Sep 30, 2019 | 6.93% |
| Jun 30, 2019 | 13.48% |
| Mar 31, 2019 | 30.51% |
| Dec 31, 2018 | 32,100.00% |
| Sep 30, 2018 | -1.35% |
| Jun 30, 2018 | 24.34% |
| Mar 31, 2018 | 31.19% |
| Dec 31, 2017 | 25.32% |
| Sep 30, 2017 | 5.91% |
| Jun 30, 2017 | 24.35% |
| Mar 31, 2017 | 21.47% |
| Dec 31, 2016 | 140.72% |
| Sep 30, 2016 | 3.12% |
| Jun 30, 2016 | 16.28% |
| Mar 31, 2016 | 25.64% |
| Dec 31, 2015 | 91.61% |
| Sep 30, 2015 | 196.61% |
| Jun 30, 2015 | 85.92% |
| Mar 31, 2015 | 161.87% |
| Dec 31, 2014 | 19.35% |
| Sep 30, 2014 | -0.37% |
| Jun 30, 2014 | 19.08% |
| Mar 31, 2014 | 16.93% |
| Dec 31, 2013 | 23.79% |
| Sep 30, 2013 | 5.84% |
| Jun 30, 2013 | 9.95% |
| Mar 31, 2013 | 17.34% |
| Dec 31, 2012 | 27.55% |
| Sep 30, 2012 | 2.14% |
| Jun 30, 2012 | 22.70% |
| Mar 31, 2012 | 11.44% |
| Dec 31, 2011 | 23.25% |
| Sep 30, 2011 | -2.22% |
| Jun 30, 2011 | 29.27% |
| Mar 31, 2011 | 19.75% |
| Dec 31, 2010 | 22.27% |
| Sep 30, 2010 | 2.91% |
| Jun 30, 2010 | 25.96% |
| Mar 31, 2010 | -3.50% |
| Dec 31, 2009 | 41.74% |
| Sep 30, 2009 | -1.36% |