Nasdaq (NDAQ) Gross Margin (2009 - 2026)
Nasdaq recorded quarterly Gross Margin of 65.84% in Q1 2026, little changed quarter-over-quarter from 65.54% in Q4 2025, and up 682.0% year-over-year from 8.42% in Q1 2025.
Nasdaq's Gross Margin history runs 18 years deep, the most recent figure standing at 65.84% for Q1 2026.
- In Q1 2026, Gross Margin rose 682.0% year-over-year to 65.84%; the TTM figure through Mar 2026 stood at 65.23% (up 425.0% YoY), while the FY2025 annual figure was 63.53%, up 71.0% from the prior year.
- Gross Margin came in at 65.84% for Q1 2026 at Nasdaq, roughly flat from 65.54% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 749.66% in Q4 2023 to a low of 57.16% in Q3 2022.
- A 5-year average of 102.41% and a median of 62.49% in 2025 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin surged 69233 bps in 2023 and tumbled 68922 bps in 2024, its largest moves.
- Nasdaq's Gross Margin stood at 57.33% in 2022, then surged by 1208 bps to 749.66% in 2023, then plunged by 92 bps to 60.44% in 2024, then climbed by 8 bps to 65.54% in 2025, then grew by 0 bps to 65.84% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 65.84%, 65.54%, and 67.16% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | 70.39% |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 97.21% |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | - |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | 74.46% |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 65.84% |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | 94.06% |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 89.93% |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 57.27% |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | 58.30% |
| 10 | Factset Research Systems | 9.06 Bn | 8.78 Bn | 314.28 Mn | 51.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 65.84% |
| Dec 31, 2025 | 65.54% |
| Sep 30, 2025 | 67.16% |
| Jun 30, 2025 | 62.49% |
| Mar 31, 2025 | 59.02% |
| Dec 31, 2024 | 60.44% |
| Sep 30, 2024 | 60.25% |
| Jun 30, 2024 | 64.68% |
| Mar 31, 2024 | 66.73% |
| Dec 31, 2023 | 749.66% |
| Sep 30, 2023 | 64.78% |
| Jun 30, 2023 | 64.55% |
| Mar 31, 2023 | 59.62% |
| Dec 31, 2022 | 57.33% |
| Sep 30, 2022 | 57.16% |
| Jun 30, 2022 | 57.54% |
| Mar 31, 2022 | 58.11% |
| Dec 31, 2021 | 60.40% |
| Sep 30, 2021 | 61.75% |
| Jun 30, 2021 | 59.92% |
| Mar 31, 2021 | 51.54% |
| Dec 31, 2020 | 53.90% |
| Sep 30, 2020 | 50.60% |
| Jun 30, 2020 | 50.00% |
| Mar 31, 2020 | 51.81% |
| Dec 31, 2019 | 60.89% |
| Sep 30, 2019 | 57.66% |
| Jun 30, 2019 | 58.72% |
| Mar 31, 2019 | 61.02% |
| Dec 31, 2018 | 64,400.00% |
| Sep 30, 2018 | 62.24% |
| Jun 30, 2018 | 59.88% |
| Mar 31, 2018 | 57.86% |
| Dec 31, 2017 | 61.92% |
| Sep 30, 2017 | 62.49% |
| Jun 30, 2017 | 59.96% |
| Mar 31, 2017 | 59.96% |
| Dec 31, 2016 | 358.08% |
| Sep 30, 2016 | 62.97% |
| Jun 30, 2016 | 62.32% |
| Mar 31, 2016 | 59.01% |
| Dec 31, 2015 | 374.83% |
| Sep 30, 2015 | 896.61% |
| Jun 30, 2015 | 364.79% |
| Mar 31, 2015 | 364.75% |
| Dec 31, 2014 | 56.30% |
| Sep 30, 2014 | 60.76% |
| Jun 30, 2014 | 60.46% |
| Mar 31, 2014 | 58.91% |
| Dec 31, 2013 | 61.25% |
| Sep 30, 2013 | 62.86% |
| Jun 30, 2013 | 55.41% |
| Mar 31, 2013 | 56.18% |
| Dec 31, 2012 | 55.76% |
| Sep 30, 2012 | 55.23% |
| Jun 30, 2012 | 52.39% |
| Mar 31, 2012 | 51.49% |
| Dec 31, 2011 | 50.65% |
| Sep 30, 2011 | 46.19% |
| Jun 30, 2011 | 49.58% |
| Mar 31, 2011 | 50.67% |
| Dec 31, 2010 | 50.84% |
| Sep 30, 2010 | 49.14% |
| Jun 30, 2010 | 44.02% |
| Mar 31, 2010 | 46.69% |
| Dec 31, 2009 | 45.17% |
| Sep 30, 2009 | 43.09% |
| Jun 30, 2009 | 41.28% |