Nasdaq (NDAQ) Price to Book (2009 - 2026)
Nasdaq's Price to Book was 3.69 in Q2 2026, down 15.0% from 4.34 a year earlier and down 7.3% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Price to Book (2009 - 2026) Analysis & Trends
For FY2025, Price to Book at Nasdaq came in at 4.53, up 14.0% from FY2024.
- In earlier years, Price to Book was 3.97 in FY2024 (+28.5%), 3.09 in FY2023 (-36.9%), 4.89 in FY2022 (-10.5%) and 5.46 in FY2021 (+60.6%).
- The Q2 2026 figure marks the lowest quarterly Price to Book since Q2 2024.
- Compared with a year earlier, Price to Book was higher in seven of the last eight quarters, with growth averaging 12.0%.
- The best year-over-year quarter for Price to Book over five years was Q4 2021 (growth of 60.6%); the worst was Q4 2023 (a decline of 36.9%).
- Per Business Quant data, NDAQ's Price to Book in the three quarters before Q2 2026 was 3.98 (Q1 2026), 4.53 (Q4 2025) and 4.21 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 109.93 Bn | 98.03 Bn | - |
| 2 | Intercontinental Exchange | 91.85 Bn | 85.66 Bn | - |
| 3 | Robinhood Markets | 86.83 Bn | 67.92 Bn | - |
| 4 | Nasdaq | 57.69 Bn | 55.13 Bn | 1.48 Bn |
| 5 | Interactive Brokers | 37.07 Bn | 30.53 Bn | - |
| 6 | Cboe Global Markets | 34.37 Bn | 26.02 Bn | 731.60 Mn |
| 7 | Tradeweb Markets | 28.54 Bn | 21.25 Bn | - |
| 8 | LPL Financial Holdings | 25.11 Bn | 20.43 Bn | - |
| 9 | Circle Internet | 20.23 Bn | 14.11 Bn | 288.85 Mn |
| 10 | Xp | 15.26 Bn | -6.57 Bn | 105.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.28 |
| Jun 30, 2026 | 3.69 |
| Mar 31, 2026 | 3.98 |
| Dec 31, 2025 | 4.53 |
| Sep 30, 2025 | 4.21 |
| Jun 30, 2025 | 4.34 |
| Mar 31, 2025 | 3.77 |
| Dec 31, 2024 | 3.97 |
| Sep 30, 2024 | 3.79 |
| Jun 30, 2024 | 3.18 |
| Mar 31, 2024 | 3.36 |
| Dec 31, 2023 | 3.09 |
| Sep 30, 2023 | 3.68 |
| Jun 30, 2023 | 3.92 |
| Mar 31, 2023 | 4.34 |
| Dec 31, 2022 | 4.89 |
| Sep 30, 2022 | 4.73 |
| Jun 30, 2022 | 4.28 |
| Mar 31, 2022 | 4.88 |
| Dec 31, 2021 | 5.46 |
API Access
Nasdaq Price to Book 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=price-to-book&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();