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Growth Metrics

Nasdaq (NDAQ) Net Cash Flow (2009 - 2026)

Nasdaq recorded quarterly Net Cash Flow of -$2.7 billion in Q1 2026, down 373.79% quarter-over-quarter from -$580.0 million in Q4 2025, and down 305.31% year-over-year from $1.3 billion in Q1 2025.

Nasdaq's Net Cash Flow history runs 18 years deep, the most recent figure standing at -$2.7 billion for Q1 2026.

  • In Q1 2026, Net Cash Flow fell 305.31% year-over-year to -$2.7 billion; the TTM figure through Mar 2026 stood at -$3.9 billion (down 472.19% YoY), while the FY2025 annual figure was -$1.8 billion, down 14.16% from the prior year.
  • Net Cash Flow came in at -$2.7 billion for Q1 2026 at Nasdaq, down from -$580.0 million in the prior quarter.
  • In the past five years, Net Cash Flow ranged from a high of $5.3 billion in Q2 2023 to a low of -$4.2 billion in Q4 2023.
  • A 5-year average of -$200.5 million and a median of -$327.0 million in 2024 frame the typical range for Net Cash Flow.
  • Across the five-year window, Net Cash Flow jumped 644.0% in 2022 and tumbled 771.27% in 2024, its largest moves.
  • Nasdaq's Net Cash Flow stood at -$2.7 billion in 2022, then slumped by 57.92% to -$4.2 billion in 2023, then soared by 92.25% to -$327.0 million in 2024, then plunged by 77.37% to -$580.0 million in 2025, then plunged by 373.79% to -$2.7 billion in 2026.
  • According to Business Quant data, Net Cash Flow over the past three periods registered -$2.7 billion, -$580.0 million, and $235.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Cash Flow (Qtr)
1 S&P Global 126.06 Bn 129.16 Bn 2.94 Bn 91.00 Mn
2 Cme 98.29 Bn 98.29 Bn 1.83 Bn 3.35 Bn
3 Intercontinental Exchange 83.83 Bn 82.37 Bn - 40.82 Bn
4 Moodys 80.13 Bn 78.77 Bn 1.55 Bn -871.00 Mn
5 Nasdaq 52.44 Bn 51.76 Bn 1.41 Bn -2.75 Bn
6 Coinbase Global 50.05 Bn 49.52 Bn 1.33 Bn -921.23 Mn
7 Msci 46.28 Bn 45.89 Bn 765.10 Mn -128.20 Mn
8 Cboe Global Markets 34.92 Bn 32.75 Bn 728.90 Mn 1.80 Bn
9 TransUnion 13.79 Bn 13.22 Bn 726.20 Mn -101.60 Mn
10 Factset Research Systems 9.06 Bn 8.78 Bn 314.28 Mn -10.68 Mn

Historic Data

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DateValue
Mar 31, 2026 -2.75 Bn
Mar 31, 2026 -2.75 Bn
Dec 31, 2025 -580.00 Mn
Dec 31, 2025 -580.00 Mn
Sep 30, 2025 235.00 Mn
Sep 30, 2025 235.00 Mn
Jun 30, 2025 -775.00 Mn
Jun 30, 2025 -775.00 Mn
Mar 31, 2025 -678.00 Mn
Mar 31, 2025 -678.00 Mn
Dec 31, 2024 -327.00 Mn
Dec 31, 2024 -327.00 Mn
Sep 30, 2024 113.00 Mn
Sep 30, 2024 113.00 Mn
Jun 30, 2024 216.00 Mn
Jun 30, 2024 216.00 Mn
Mar 31, 2024 -1.58 Bn
Mar 31, 2024 -1.58 Bn
Dec 31, 2023 -4.22 Bn
Dec 31, 2023 -4.22 Bn
Sep 30, 2023 -963.00 Mn
Sep 30, 2023 -963.00 Mn
Jun 30, 2023 5.28 Bn
Jun 30, 2023 5.28 Bn
Mar 31, 2023 -181.00 Mn
Mar 31, 2023 -181.00 Mn
Dec 31, 2022 -2.67 Bn
Dec 31, 2022 -2.67 Bn
Sep 30, 2022 2.02 Bn
Sep 30, 2022 2.02 Bn
Jun 30, 2022 2.86 Bn
Jun 30, 2022 2.86 Bn
Mar 31, 2022 583.00 Mn
Mar 31, 2022 583.00 Mn
Dec 31, 2021 1.89 Bn
Dec 31, 2021 1.89 Bn
Sep 30, 2021 622.00 Mn
Sep 30, 2021 622.00 Mn
Jun 30, 2021 -525.00 Mn
Jun 30, 2021 -525.00 Mn
Mar 31, 2021 -2.14 Bn
Mar 31, 2021 -2.14 Bn
Dec 31, 2020 2.79 Bn
Dec 31, 2020 2.79 Bn
Sep 30, 2020 -130.00 Mn
Sep 30, 2020 -130.00 Mn
Jun 30, 2020 -312.00 Mn
Jun 30, 2020 -312.00 Mn
Mar 31, 2020 694.00 Mn
Mar 31, 2020 694.00 Mn
Dec 31, 2019 -1.69 Bn
Dec 31, 2019 -1.69 Bn
Sep 30, 2019 -23.00 Mn
Sep 30, 2019 -23.00 Mn
Jun 30, 2019 -174.00 Mn
Jun 30, 2019 -174.00 Mn
Mar 31, 2019 -39.00 Mn
Mar 31, 2019 -39.00 Mn
Dec 31, 2018 208.00 Mn
Dec 31, 2018 208.00 Mn
Sep 30, 2018 19.00 Mn
Sep 30, 2018 19.00 Mn
Jun 30, 2018 -60.00 Mn
Jun 30, 2018 -60.00 Mn
Mar 31, 2018 30.00 Mn
Mar 31, 2018 30.00 Mn
Dec 31, 2017 -152.00 Mn
Dec 31, 2017 -152.00 Mn
Sep 30, 2017 172.00 Mn
Sep 30, 2017 172.00 Mn
Jun 30, 2017 -98.00 Mn
Jun 30, 2017 -98.00 Mn
Mar 31, 2017 44.00 Mn
Mar 31, 2017 44.00 Mn
Dec 31, 2016 149.00 Mn
Dec 31, 2016 149.00 Mn
Sep 30, 2016 -90.00 Mn
Sep 30, 2016 -90.00 Mn
Jun 30, 2016 19.00 Mn
Jun 30, 2016 19.00 Mn
Mar 31, 2016 -11.00 Mn
Mar 31, 2016 -11.00 Mn
Dec 31, 2015 23.00 Mn
Dec 31, 2015 23.00 Mn
Sep 30, 2015 -31.00 Mn
Sep 30, 2015 -31.00 Mn
Jun 30, 2015 -9.00 Mn
Jun 30, 2015 -9.00 Mn
Mar 31, 2015 -91.00 Mn
Mar 31, 2015 -91.00 Mn
Dec 31, 2014 121.00 Mn
Dec 31, 2014 121.00 Mn
Sep 30, 2014 -20.00 Mn
Sep 30, 2014 -20.00 Mn
Jun 30, 2014 -68.00 Mn
Jun 30, 2014 -68.00 Mn
Mar 31, 2014 -16.00 Mn
Mar 31, 2014 -16.00 Mn
Dec 31, 2013 96.00 Mn
Dec 31, 2013 96.00 Mn
Sep 30, 2013 -81.00 Mn
Sep 30, 2013 -81.00 Mn
Jun 30, 2013 -210.00 Mn
Jun 30, 2013 -210.00 Mn
Mar 31, 2013 100.00 Mn
Mar 31, 2013 100.00 Mn
Dec 31, 2012 55.00 Mn
Dec 31, 2012 55.00 Mn
Sep 30, 2012 -61.00 Mn
Sep 30, 2012 -61.00 Mn
Jun 30, 2012 -25.00 Mn
Jun 30, 2012 -25.00 Mn
Mar 31, 2012 12.00 Mn
Mar 31, 2012 12.00 Mn
Dec 31, 2011 -37.00 Mn
Dec 31, 2011 -37.00 Mn
Sep 30, 2011 -23.00 Mn
Sep 30, 2011 -23.00 Mn
Jun 30, 2011 138.00 Mn
Jun 30, 2011 138.00 Mn
Mar 31, 2011 120.00 Mn
Mar 31, 2011 120.00 Mn
Dec 31, 2010 -21.00 Mn
Dec 31, 2010 -21.00 Mn
Sep 30, 2010 -203.00 Mn
Sep 30, 2010 -203.00 Mn
Jun 30, 2010 2.00 Mn
Jun 30, 2010 2.00 Mn
Mar 31, 2010 -51.00 Mn
Mar 31, 2010 -51.00 Mn
Dec 31, 2009 286.00 Mn
Dec 31, 2009 286.00 Mn
Sep 30, 2009 -125.00 Mn
Sep 30, 2009 -125.00 Mn