Nasdaq (NDAQ) Share-based Compensation (2009 - 2026)
Nasdaq (NDAQ) recorded Share-based Compensation of $49 million in Q2 2026, up 6.5% from $46 million a year earlier and up 28.9% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Share-based Compensation (2009 - 2026) Analysis & Trends
On a TTM basis, Nasdaq's Share-based Compensation came in at $171 million as of Jun 30, 2026, up 11.8% year-over-year; for FY2025, it was $165 million, up 17.0% from FY2024.
- Annual Share-based Compensation has increased for seven straight years, with a five-year compound annual growth rate of 13.7% (FY2020 to FY2025).
- Across earlier years, Share-based Compensation came in at $141 million in FY2024 (+15.6%), $122 million in FY2023 (+15.1%), $106 million in FY2022 (+17.8%) and $90 million in FY2021 (+3.4%).
- The Q2 2026 figure is the highest quarterly Share-based Compensation in data going back to Q3 2009.
- On a year-over-year basis, Share-based Compensation has increased for 16 consecutive quarters, with growth averaging 14.4% over the last eight quarters.
- Peak year-over-year performance for Share-based Compensation in the last five years was growth of 41.7% in Q2 2023, against a decline of 4.2% in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $38 million (Q1 2026), $43 million (Q4 2025) and $41 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Stock Comp. (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 104.70 Bn | 85.79 Bn | - | 105.00 Mn |
| 2 | Bank of New York Mellon | 100.72 Bn | 40.09 Bn | - | - |
| 3 | Cme | 94.58 Bn | 94.58 Bn | - | 24.80 Mn |
| 4 | Intercontinental Exchange | 85.83 Bn | 79.63 Bn | - | 67.00 Mn |
| 5 | Nasdaq | 52.05 Bn | 49.49 Bn | 1.50 Bn | 49.00 Mn |
| 6 | State Street | 49.39 Bn | 49.39 Bn | - | - |
| 7 | Interactive Brokers | 39.24 Bn | 32.69 Bn | - | 32.00 Mn |
| 8 | Northern Trust | 31.94 Bn | 31.94 Bn | - | - |
| 9 | Cboe Global Markets | 26.47 Bn | 18.13 Bn | 731.60 Mn | 15.60 Mn |
| 10 | LPL Financial Holdings | 24.62 Bn | 19.94 Bn | - | 23.58 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 49.00 Mn |
| Mar 31, 2026 | 38.00 Mn |
| Dec 31, 2025 | 43.00 Mn |
| Sep 30, 2025 | 41.00 Mn |
| Jun 30, 2025 | 46.00 Mn |
| Mar 31, 2025 | 35.00 Mn |
| Dec 31, 2024 | 36.00 Mn |
| Sep 30, 2024 | 36.00 Mn |
| Jun 30, 2024 | 39.00 Mn |
| Mar 31, 2024 | 30.00 Mn |
| Dec 31, 2023 | 32.00 Mn |
| Sep 30, 2023 | 30.00 Mn |
| Jun 30, 2023 | 34.00 Mn |
| Mar 31, 2023 | 26.00 Mn |
| Dec 31, 2022 | 30.00 Mn |
| Sep 30, 2022 | 27.00 Mn |
| Jun 30, 2022 | 24.00 Mn |
| Mar 31, 2022 | 25.00 Mn |
| Dec 31, 2021 | 24.00 Mn |
| Sep 30, 2021 | 23.00 Mn |
API Access
Nasdaq Share-based Compensation 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=share-based-compensation&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "share-based-compensation", "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=share-based-compensation&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();