KPIs & Operating Metrics(New)
Growth Metrics

Nasdaq (NDAQ) Invested Capital (2009 - 2026)

Nasdaq recorded quarterly Invested Capital of $20.6 billion in Q1 2026, down 1.18% quarter-over-quarter from $20.8 billion in Q4 2025, and little changed year-over-year from $20.5 billion in Q1 2025.

Nasdaq's Invested Capital history runs 18 years deep, the most recent figure standing at $20.6 billion for Q1 2026.

  • In Q1 2026, Invested Capital changed 0.38% year-over-year to $20.6 billion; the TTM figure through Mar 2026 stood at $20.6 billion (changed 0.38% YoY), while the FY2025 annual figure was $20.8 billion, up 162.19% from the prior year.
  • Invested Capital came in at $20.6 billion for Q1 2026 at Nasdaq, down from $20.8 billion in the prior quarter.
  • In the past five years, Invested Capital ranged from a high of $20.8 billion in Q4 2025 to a low of $2.7 billion in Q4 2022.
  • A 5-year average of $12.4 billion and a median of $10.5 billion in 2022 frame the typical range for Invested Capital.
  • Across the five-year window, Invested Capital surged 646.83% in 2023 and sank 61.28% in 2024, its largest moves.
  • Nasdaq's Invested Capital stood at $2.7 billion in 2022, then soared by 646.83% to $20.5 billion in 2023, then tumbled by 61.28% to $7.9 billion in 2024, then surged by 162.19% to $20.8 billion in 2025, then slipped by 1.18% to $20.6 billion in 2026.
  • According to Business Quant data, Invested Capital over the past three periods registered $20.6 billion, $20.8 billion, and $20.7 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Invested Cap. (Qtr)
1 S&P Global 126.06 Bn 129.16 Bn 2.94 Bn 44.49 Bn
2 Cme 98.29 Bn 98.29 Bn 1.83 Bn 26.62 Bn
3 Intercontinental Exchange 83.83 Bn 82.37 Bn - 31.28 Bn
4 Moodys 80.13 Bn 78.77 Bn 1.55 Bn 10.11 Bn
5 Nasdaq 52.44 Bn 51.76 Bn 1.41 Bn 20.56 Bn
6 Coinbase Global 50.05 Bn 49.52 Bn 1.33 Bn 20.68 Bn
7 Msci 46.28 Bn 45.89 Bn 765.10 Mn 3.63 Bn
8 Cboe Global Markets 34.92 Bn 32.75 Bn 728.90 Mn 6.82 Bn
9 TransUnion 13.79 Bn 13.22 Bn 726.20 Mn 4.96 Bn
10 Factset Research Systems 9.06 Bn 8.78 Bn 314.28 Mn 3.50 Bn

Historic Data

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DateValue
Mar 31, 2026 20.56 Bn
Dec 31, 2025 20.81 Bn
Sep 30, 2025 20.70 Bn
Jun 30, 2025 7.97 Bn
Mar 31, 2025 20.48 Bn
Dec 31, 2024 7.94 Bn
Sep 30, 2024 20.44 Bn
Jun 30, 2024 7.24 Bn
Mar 31, 2024 9.78 Bn
Dec 31, 2023 20.49 Bn
Sep 30, 2023 16.18 Bn
Jun 30, 2023 11.16 Bn
Mar 31, 2023 4.77 Bn
Dec 31, 2022 2.74 Bn
Sep 30, 2022 10.46 Bn
Jun 30, 2022 4.71 Bn
Mar 31, 2022 4.81 Bn
Dec 31, 2021 3.88 Bn
Sep 30, 2021 11.80 Bn
Jun 30, 2021 11.58 Bn
Mar 31, 2021 7.86 Bn
Dec 31, 2020 3.58 Bn
Sep 30, 2020 9.59 Bn
Jun 30, 2020 1.77 Bn
Mar 31, 2020 1.05 Bn
Dec 31, 2019 2.66 Bn
Sep 30, 2019 8.27 Bn
Jun 30, 2019 7.85 Bn
Mar 31, 2019 683.00 Mn
Dec 31, 2018 6.92 Bn
Sep 30, 2018 8.67 Bn
Jun 30, 2018 3.08 Bn
Mar 31, 2018 2.87 Bn
Dec 31, 2017 7.09 Bn
Sep 30, 2017 9.32 Bn
Jun 30, 2017 8.63 Bn
Mar 31, 2017 8.97 Bn
Dec 31, 2016 6.71 Bn
Sep 30, 2016 5.77 Bn
Jun 30, 2016 5.72 Bn
Mar 31, 2016 5.70 Bn
Dec 31, 2015 7.97 Bn
Sep 30, 2015 5.57 Bn
Jun 30, 2015 5.72 Bn
Mar 31, 2015 5.54 Bn
Dec 31, 2014 5.79 Bn
Sep 30, 2014 6.12 Bn
Jun 30, 2014 6.21 Bn
Mar 31, 2014 6.67 Bn
Dec 31, 2013 6.23 Bn
Sep 30, 2013 6.10 Bn
Jun 30, 2013 6.00 Bn
Mar 31, 2013 5.34 Bn
Dec 31, 2012 7.19 Bn
Sep 30, 2012 7.12 Bn
Jun 30, 2012 6.97 Bn
Mar 31, 2012 7.16 Bn
Dec 31, 2011 7.10 Bn
Sep 30, 2011 5.03 Bn
Jun 30, 2011 5.29 Bn
Mar 31, 2011 5.18 Bn
Dec 31, 2010 5.12 Bn
Sep 30, 2010 5.22 Bn
Jun 30, 2010 4.82 Bn
Dec 31, 2009 5.17 Bn