Nasdaq (NDAQ) Price to FCF (2010 - 2026)
Nasdaq's (NDAQ) Price to FCF was 22.70 for Q2 2026, down 5.6% from 24.05 a year earlier and down 5.1% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Price to FCF (2010 - 2026) Analysis & Trends
For FY2025, Price to FCF at Nasdaq was 27.83, up 8.4% from FY2024.
- Price to FCF has increased for three consecutive years.
- By year, Price to FCF came in at 25.67 in FY2024 (+18.1%), 21.74 in FY2023 (+12.0%), 19.41 in FY2022 (-49.0%) and 38.05 in FY2021 (+84.9%).
- The Q2 2026 figure ranks as the lowest quarterly Price to FCF since Q2 2024.
- Year over year, Price to FCF gained in five of the last eight quarters, with growth averaging 13.2%.
- The high point for year-over-year Price to FCF in five years was Q3 2024 (growth of 95.2%); the low point was Q2 2022 (a decline of 59.2%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 23.93 (Q1 2026), 27.83 (Q4 2025) and 24.16 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 110.29 Bn | 98.39 Bn | - |
| 2 | Intercontinental Exchange | 91.73 Bn | 85.47 Bn | - |
| 3 | Robinhood Markets | 85.57 Bn | 66.60 Bn | - |
| 4 | Nasdaq | 57.08 Bn | 54.52 Bn | 1.48 Bn |
| 5 | Interactive Brokers | 36.00 Bn | 13.12 Bn | - |
| 6 | Cboe Global Markets | 35.61 Bn | 27.26 Bn | 731.60 Mn |
| 7 | Tradeweb Markets | 26.02 Bn | 18.03 Bn | - |
| 8 | LPL Financial Holdings | 25.19 Bn | 20.51 Bn | - |
| 9 | Circle Internet | 21.29 Bn | 15.17 Bn | 288.85 Mn |
| 10 | Xp | 16.10 Bn | -5.72 Bn | 105.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 22.76 |
| Jun 30, 2026 | 22.70 |
| Mar 31, 2026 | 23.93 |
| Dec 31, 2025 | 27.83 |
| Sep 30, 2025 | 24.16 |
| Jun 30, 2025 | 24.05 |
| Mar 31, 2025 | 23.47 |
| Dec 31, 2024 | 25.67 |
| Sep 30, 2024 | 28.71 |
| Jun 30, 2024 | 22.59 |
| Mar 31, 2024 | 24.17 |
| Dec 31, 2023 | 21.74 |
| Sep 30, 2023 | 14.71 |
| Jun 30, 2023 | 15.79 |
| Mar 31, 2023 | 17.75 |
| Dec 31, 2022 | 19.41 |
| Sep 30, 2022 | 19.50 |
| Jun 30, 2022 | 17.41 |
| Mar 31, 2022 | 25.84 |
| Dec 31, 2021 | 38.05 |
API Access
Nasdaq Price to FCF 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-fcf&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-fcf", "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-fcf&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();