Nasdaq (NDAQ) Operating Expenses (2009 - 2026)
Nasdaq (NDAQ) posted Operating Expenses of $788.0 million for Q2 2026, up 5.07% sequentially from $750.0 million in Q1 2026, and up 6.78% YoY from $738.0 million in Q2 2025.
Nasdaq (NDAQ) Operating Expenses (2009 - 2026) Analysis & Trends
Nasdaq has reported Operating Expenses for 18 years, with the latest figure at $788.0 million in Q2 2026.
- Quarterly Operating Expenses rose 6.78% year-over-year to $788.0 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $3.0 billion (up 6.84% YoY) and the FY2025 annual result came in at $2.9 billion, up 2.35% from the prior year.
- Operating Expenses rose to $788.0 million in Q2 2026 per NDAQ's latest filing, from $750.0 million in the prior quarter.
- Over five years, Operating Expenses peaked at $788.0 million in Q2 2026 and troughed at $481.0 million in Q2 2022.
- A 5-year average of $646.9 million and a median of $702.5 million in 2024 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 40.84% in 2024, down 7.07% in 2024.
- Over 5 years, Operating Expenses stood at $558.0 million in 2022, then jumped by 36.92% to $764.0 million in 2023, then fell by 7.07% to $710.0 million in 2024, then increased by 7.46% to $763.0 million in 2025, then rose by 3.28% to $788.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $788.0 million, $750.0 million, and $763.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 127.26 Bn | 123.12 Bn | 2.98 Bn | 2.35 Bn |
| 2 | Cme | 99.13 Bn | 99.13 Bn | 1.65 Bn | 599.10 Mn |
| 3 | Intercontinental Exchange | 90.95 Bn | 88.99 Bn | - | 1.28 Bn |
| 4 | Moodys | 87.63 Bn | 86.13 Bn | 1.67 Bn | 1.14 Bn |
| 5 | Nasdaq | 55.45 Bn | 54.73 Bn | 1.50 Bn | 788.00 Mn |
| 6 | Coinbase Global | 49.19 Bn | 40.40 Bn | 1.16 Bn | 1.33 Bn |
| 7 | Msci | 41.09 Bn | 40.73 Bn | 717.10 Mn | 379.50 Mn |
| 8 | Cboe Global Markets | 31.57 Bn | 29.18 Bn | 731.60 Mn | 255.60 Mn |
| 9 | TransUnion | 16.37 Bn | 15.54 Bn | 765.00 Mn | 1.05 Bn |
| 10 | Factset Research Systems | 10.82 Bn | 10.52 Bn | 310.73 Mn | 456.62 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 788.00 Mn |
| Mar 31, 2026 | 750.00 Mn |
| Dec 31, 2025 | 763.00 Mn |
| Sep 30, 2025 | 729.00 Mn |
| Jun 30, 2025 | 738.00 Mn |
| Mar 31, 2025 | 690.00 Mn |
| Dec 31, 2024 | 710.00 Mn |
| Sep 30, 2024 | 698.00 Mn |
| Jun 30, 2024 | 736.00 Mn |
| Mar 31, 2024 | 707.00 Mn |
| Dec 31, 2023 | 764.00 Mn |
| Sep 30, 2023 | 509.00 Mn |
| Jun 30, 2023 | 543.00 Mn |
| Mar 31, 2023 | 502.00 Mn |
| Dec 31, 2022 | 558.00 Mn |
| Sep 30, 2022 | 492.00 Mn |
| Jun 30, 2022 | 481.00 Mn |
| Mar 31, 2022 | 487.00 Mn |
| Dec 31, 2021 | 542.00 Mn |
| Sep 30, 2021 | 482.00 Mn |