Nasdaq (NDAQ) Gross Margin (2009 - 2026)

Nasdaq has disclosed Gross Margin across 18 years of filings, most recently posting 65.84% for Q1 2026.

• Gross Margin for Q1 2026 came in at 65.84%, up 682.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 65.23% (up 425.0% YoY), and the FY2025 annual result 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.
• The 5-year median for Gross Margin is 62.49% (2025), against an average of 102.41%.
• Across the five-year window, Gross Margin jumped 69233 bps in 2023 and plunged 68922 bps in 2024, its largest moves.
• Nasdaq's Gross Margin stood at 57.33% in 2022, then jumped by 1208 bps to 749.66% in 2023, then sank by 92 bps to 60.44% in 2024, then advanced by 8 bps to 65.54% in 2025, then climbed by 0 bps to 65.84% in 2026.
• The last three Gross Margin figures came in at 65.84% (Q1 2026), 65.54% (Q4 2025), and 67.16% (Q3 2025), per Business Quant data.