Nasdaq (NDAQ) Interest Coverage Ratio (2009 - 2026)
Nasdaq's Interest Coverage Ratio was 8.51 in Q3 2026, up 26.4% from 6.74 a year earlier and up 2.8% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Interest Coverage Ratio (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Nasdaq's Interest Coverage Ratio was 7.87 through Sep 30, 2026, up 34.4% year-over-year; for FY2025, it was 6.35, up 46.2% from FY2024.
- In earlier years, Interest Coverage Ratio was 4.34 in FY2024 (-21.8%), 5.56 in FY2023 (-54.2%), 12.12 in FY2022 (+5.2%) and 11.53 in FY2021 (-5.6%).
- The Q3 2026 figure marks the highest quarterly Interest Coverage Ratio since Q2 2023.
- Compared with a year earlier, Interest Coverage Ratio has increased for nine straight quarters, with growth averaging 43.0% over the last eight quarters.
- The best year-over-year quarter for Interest Coverage Ratio over five years was Q4 2024 (growth of 59.5%); the worst was Q4 2023 (a decline of 69.7%).
- Per Business Quant data, NDAQ's Interest Coverage Ratio in the three quarters before Q3 2026 was 8.28 (Q2 2026), 7.55 (Q1 2026) and 7.15 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Interest Cover (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 110.48 Bn | 98.81 Bn | 359.20 Mn | 26.24 |
| 2 | Bank of New York Mellon | 101.69 Bn | 35.78 Bn | - | 1.51 |
| 3 | Intercontinental Exchange | 98.41 Bn | 92.22 Bn | 1.22 Bn | 6.35 |
| 4 | Robinhood Markets | 73.28 Bn | 52.89 Bn | - | 3.99 |
| 5 | Nasdaq | 61.44 Bn | 58.88 Bn | 1.48 Bn | 8.51 |
| 6 | State Street | 46.84 Bn | 43.46 Bn | - | 1.68 |
| 7 | Cboe Global Markets | 38.04 Bn | 28.52 Bn | 712.20 Mn | 40.79 |
| 8 | Interactive Brokers | 35.16 Bn | 18.81 Bn | - | 2.17 |
| 9 | Northern Trust | 32.22 Bn | 32.22 Bn | - | 1.57 |
| 10 | Tradeweb Markets | 30.09 Bn | 22.61 Bn | - | 485.50 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 8.51 |
| Jun 30, 2026 | 8.28 |
| Mar 31, 2026 | 7.55 |
| Dec 31, 2025 | 7.15 |
| Sep 30, 2025 | 6.74 |
| Jun 30, 2025 | 5.98 |
| Mar 31, 2025 | 5.70 |
| Dec 31, 2024 | 5.12 |
| Sep 30, 2024 | 4.39 |
| Jun 30, 2024 | 4.15 |
| Mar 31, 2024 | 3.80 |
| Dec 31, 2023 | 3.21 |
| Sep 30, 2023 | 4.27 |
| Jun 30, 2023 | 10.61 |
| Mar 31, 2023 | 11.44 |
| Dec 31, 2022 | 10.58 |
| Sep 30, 2022 | 12.44 |
| Jun 30, 2022 | 12.88 |
| Mar 31, 2022 | 12.66 |
| Dec 31, 2021 | 11.47 |
API Access
Nasdaq Interest Coverage Ratio 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=interest-coverage-ratio&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "interest-coverage-ratio", "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=interest-coverage-ratio&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();