Nasdaq (NDAQ) Net Margin (2009 - 2026)
Nasdaq's (NDAQ) quarterly Net Margin came in at 24.29% in Q1 2026, up 544.0% year-on-year from 3.77% in Q1 2025, and little changed quarter-over-quarter from 24.39% in Q4 2025.
Nasdaq (NDAQ) Net Margin (2009 - 2026) Analysis & Trends
Nasdaq has disclosed Net Margin across 18 years of filings, most recently posting 24.29% for Q1 2026.
- Net Margin for Q1 2026 came in at 24.29%, up 544.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 23.01% (up 668.0% YoY), and the FY2025 annual result was 21.63%, up 656.0% from the prior year.
- Net Margin came in at 24.29% for Q1 2026 at Nasdaq, roughly flat from 24.39% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 131.54% in Q4 2023 to a low of 12.39% in Q2 2024.
- The 5-year median for Net Margin is 18.88% (2022), against an average of 25.47%.
- Across the five-year window, Net Margin surged 11637 bps in 2023 and sank 11406 bps in 2024, its largest moves.
- Nasdaq's Net Margin stood at 15.17% in 2022, then jumped by 767 bps to 131.54% in 2023, then plunged by 87 bps to 17.49% in 2024, then soared by 39 bps to 24.39% in 2025, then slipped by 0 bps to 24.29% in 2026.
- The last three Net Margin figures came in at 24.29% (Q1 2026), 24.39% (Q4 2025), and 21.6% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 122.27 Bn | 125.38 Bn | 2.94 Bn | 36.06% |
| 2 | Cme | 88.49 Bn | 88.49 Bn | 1.83 Bn | 62.12% |
| 3 | Moodys | 79.74 Bn | 78.38 Bn | 1.55 Bn | 31.79% |
| 4 | Intercontinental Exchange | 76.18 Bn | 74.71 Bn | - | 48.10% |
| 5 | Nasdaq | 46.59 Bn | 45.91 Bn | 1.41 Bn | 24.29% |
| 6 | Coinbase Global | 43.23 Bn | 42.70 Bn | 1.33 Bn | -27.89% |
| 7 | Msci | 42.63 Bn | 42.25 Bn | 765.10 Mn | 47.72% |
| 8 | Cboe Global Markets | 26.37 Bn | 24.20 Bn | 728.90 Mn | 30.18% |
| 9 | TransUnion | 12.50 Bn | 11.93 Bn | 726.20 Mn | 32.15% |
| 10 | Factset Research Systems | 8.21 Bn | 7.92 Bn | 314.28 Mn | 21.78% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 24.29% |
| Dec 31, 2025 | 24.39% |
| Sep 30, 2025 | 21.60% |
| Jun 30, 2025 | 21.63% |
| Mar 31, 2025 | 18.85% |
| Dec 31, 2024 | 17.49% |
| Sep 30, 2024 | 16.04% |
| Jun 30, 2024 | 12.39% |
| Mar 31, 2024 | 13.92% |
| Dec 31, 2023 | 131.54% |
| Sep 30, 2023 | 20.26% |
| Jun 30, 2023 | 18.63% |
| Mar 31, 2023 | 19.63% |
| Dec 31, 2022 | 15.17% |
| Sep 30, 2022 | 18.88% |
| Jun 30, 2022 | 19.78% |
| Mar 31, 2022 | 18.44% |
| Dec 31, 2021 | 17.66% |
| Sep 30, 2021 | 21.22% |
| Jun 30, 2021 | 24.15% |