Nasdaq (NDAQ) Gross Margin (2009 - 2026)
Nasdaq (NDAQ) reported Gross Margin of 59.24% for Q2 2026, down 2.92 percentage points from 62.16% a year earlier and down 6.60 percentage points from the prior quarter.
Powered by 
Analysis
Nasdaq (NDAQ) Gross Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Nasdaq's Gross Margin came in at 64.15%, up 3.68 percentage points year-over-year; for FY2025, it was 63.53%, up 0.71 percentage points from FY2024.
- Gross Margin has a five-year change of +11.92 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 62.82% in FY2024 (-1.41 pp), 64.23% in FY2023 (+6.70 pp), 57.53% in FY2022 (-0.57 pp) and 58.10% in FY2021 (+6.50 pp).
- The Q2 2026 figure ranks as the lowest quarterly Gross Margin since Q1 2025.
- Year over year, Gross Margin gained in three of the last eight quarters, with an average year-over-year change of -0.78 percentage points.
- The high point for year-over-year Gross Margin in five years was Q3 2021 (a gain of 11.15 percentage points); the low point was Q1 2025 (a drop of 7.71 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 65.84% (Q1 2026), 65.54% (Q4 2025) and 67.16% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 104.48 Bn | 85.58 Bn | - | - |
| 2 | Bank of New York Mellon | 99.71 Bn | 39.09 Bn | - | - |
| 3 | Cme | 94.57 Bn | 94.57 Bn | - | - |
| 4 | Intercontinental Exchange | 85.38 Bn | 79.19 Bn | - | - |
| 5 | Nasdaq | 51.62 Bn | 49.05 Bn | 1.50 Bn | 59.24% |
| 6 | State Street | 48.84 Bn | 48.84 Bn | - | - |
| 7 | Interactive Brokers | 38.83 Bn | 32.29 Bn | - | - |
| 8 | Northern Trust | 31.65 Bn | 31.65 Bn | - | - |
| 9 | Cboe Global Markets | 27.38 Bn | 19.03 Bn | 731.60 Mn | 50.71% |
| 10 | LPL Financial Holdings | 24.26 Bn | 19.58 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 59.24% |
| Mar 31, 2026 | 65.84% |
| Dec 31, 2025 | 65.54% |
| Sep 30, 2025 | 67.16% |
| Jun 30, 2025 | 62.16% |
| 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 | 67.82% |
| 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% |
API Access
Nasdaq Gross Margin 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=gross-margin&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();