Nasdaq (NDAQ) Net Cash Flow (2009 - 2026)
Nasdaq (NDAQ) recorded Net Cash Flow of $371 million in Q3 2026, up 57.9% from $235 million a year earlier.
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Analysis
Nasdaq (NDAQ) Net Cash Flow (2009 - 2026) Analysis & Trends
On a TTM basis, Nasdaq's Net Cash Flow came in at -$3.28 billion as of Sep 30, 2026; for FY2025, it came in at -$1.8 billion.
- Across earlier years, Net Cash Flow came in at -$1.58 billion in FY2024, -$78 million in FY2023, $2.79 billion in FY2022 and -$152 million in FY2021.
- The Q3 2026 figure is the highest quarterly Net Cash Flow since Q2 2023.
- Per Business Quant, the preceding three quarters came in at -$318 million (Q2 2026), -$2.75 billion (Q1 2026) and -$580 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | NCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 110.48 Bn | 98.81 Bn | 359.20 Mn | -2.88 Bn |
| 2 | Bank of New York Mellon | 101.69 Bn | 35.78 Bn | - | -1.67 Bn |
| 3 | Intercontinental Exchange | 98.41 Bn | 92.22 Bn | 1.22 Bn | 2.15 Bn |
| 4 | Robinhood Markets | 73.28 Bn | 52.89 Bn | - | 1.10 Bn |
| 5 | Nasdaq | 61.44 Bn | 58.88 Bn | 1.48 Bn | 371.00 Mn |
| 6 | State Street | 46.84 Bn | 43.46 Bn | - | 506.00 Mn |
| 7 | Cboe Global Markets | 38.04 Bn | 28.52 Bn | 712.20 Mn | 847.50 Mn |
| 8 | Interactive Brokers | 35.16 Bn | 18.81 Bn | - | 369.00 Mn |
| 9 | Northern Trust | 32.22 Bn | 32.22 Bn | - | 809.80 Mn |
| 10 | Tradeweb Markets | 30.09 Bn | 22.61 Bn | - | 56.99 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 371.00 Mn |
| Jun 30, 2026 | -318.00 Mn |
| Mar 31, 2026 | -2.75 Bn |
| Dec 31, 2025 | -580.00 Mn |
| Sep 30, 2025 | 235.00 Mn |
| Jun 30, 2025 | -775.00 Mn |
| Mar 31, 2025 | -678.00 Mn |
| Dec 31, 2024 | -327.00 Mn |
| Sep 30, 2024 | 113.00 Mn |
| Jun 30, 2024 | 216.00 Mn |
| Mar 31, 2024 | -1.58 Bn |
| Dec 31, 2023 | -4.22 Bn |
| Sep 30, 2023 | -963.00 Mn |
| Jun 30, 2023 | 5.28 Bn |
| Mar 31, 2023 | -181.00 Mn |
| Dec 31, 2022 | -2.67 Bn |
| Sep 30, 2022 | 2.02 Bn |
| Jun 30, 2022 | 2.86 Bn |
| Mar 31, 2022 | 583.00 Mn |
| Dec 31, 2021 | 1.89 Bn |
API Access
Nasdaq Net Cash Flow 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=net-cash-flow&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-cash-flow", "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=net-cash-flow&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();