Nasdaq (NDAQ) Gross Margin (2009 - 2026)

Nasdaq (NDAQ) posted Gross Margin of 59.24% for Q2 2026, down 10.02% sequentially from 65.84% in Q1 2026, and down 292.0% YoY from 30.86% in Q2 2025.

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

Nasdaq has reported Gross Margin for 18 years, with the latest figure at 59.24% in Q2 2026.

Quarterly Gross Margin fell 292.0% year-over-year to 59.24% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 64.15% (up 368.0% YoY) and the FY2025 annual result came in at 63.53%, up 71.0% from the prior year.
Gross Margin declined to 59.24% in Q2 2026 per NDAQ's latest filing, from 65.84% in the prior quarter.
Over five years, Gross Margin peaked at 749.66% in Q4 2023 and troughed at 57.16% in Q3 2022.
A 5-year average of 99.99% and a median of 61.3% in 2025 frame the typical range for Gross Margin.
The sharpest annual moves came in 2023 and 2024: Gross Margin soared 69233 bps in 2023, then plunged 68922 bps in 2024.
Over 5 years, Gross Margin stood at 57.33% in 2022, then soared by 1208 bps to 749.66% in 2023, then sank by 92 bps to 60.44% in 2024, then grew by 8 bps to 65.54% in 2025, then dropped by 10 bps to 59.24% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 59.24%, 65.84%, and 65.54% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	S&P Global	128.03 Bn	123.89 Bn	2.98 Bn	71.90%
2	Cme	98.46 Bn	98.46 Bn	1.65 Bn	96.49%
3	Intercontinental Exchange	90.77 Bn	88.81 Bn	-	-
4	Moodys	87.22 Bn	85.72 Bn	1.67 Bn	76.29%
5	Nasdaq	55.40 Bn	54.68 Bn	1.50 Bn	59.24%
6	Coinbase Global	49.49 Bn	40.70 Bn	1.16 Bn	95.11%
7	Msci	41.47 Bn	41.11 Bn	717.10 Mn	82.71%
8	Cboe Global Markets	29.48 Bn	27.09 Bn	731.60 Mn	50.71%
9	TransUnion	16.42 Bn	15.58 Bn	765.00 Mn	58.41%
10	Factset Research Systems	10.76 Bn	10.46 Bn	310.73 Mn	49.88%

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