Nasdaq (NDAQ) Shares Outstanding (Diluted) (2009 - 2026)
Nasdaq's Weighted Average Shares Outstanding (Diluted) came in at 563.31 million for Q3 2026, down 2.7% from 578.98 million a year earlier and down 0.8% from the prior quarter.
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Analysis
Nasdaq (NDAQ) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Nasdaq's Weighted Average Shares Outstanding (Diluted) was 578.6 million, down 0.1% from FY2024.
- Weighted Average Shares Outstanding (Diluted) carries a five-year compound annual growth rate of 2.9% (FY2020 to FY2025).
- Going back by year, Weighted Average Shares Outstanding (Diluted) was 579.19 million in FY2024 (+13.9%), 508.39 million in FY2023 (+2.1%), 497.86 million in FY2022 (-1.4%) and 505.09 million in FY2021 (+0.9%).
- The Q3 2026 figure represents the lowest quarterly Weighted Average Shares Outstanding (Diluted) since Q4 2023.
- Year-over-year, Weighted Average Shares Outstanding (Diluted) has declined for four consecutive quarters, with growth averaging 1.0% over the last eight quarters.
- The fastest year-over-year change in Weighted Average Shares Outstanding (Diluted) over five years came in Q2 2024 (growth of 17.3%), and the weakest in Q3 2022 (a decline of 2.8%).
- Business Quant data shows NDAQ's Weighted Average Shares Outstanding (Diluted) at 567.75 million (Q2 2026), 571.75 million (Q1 2026) and 578.6 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.27 Bn | 97.61 Bn | - | 358.64 Mn |
| 2 | Bank of New York Mellon | 98.55 Bn | 37.92 Bn | - | 692.22 Mn |
| 3 | Intercontinental Exchange | 91.26 Bn | 85.07 Bn | - | 566.00 Mn |
| 4 | Robinhood Markets | 85.47 Bn | 66.56 Bn | - | 912.00 Mn |
| 5 | Nasdaq | 57.27 Bn | 54.71 Bn | 1.48 Bn | 563.31 Mn |
| 6 | State Street | 46.11 Bn | 46.11 Bn | - | 281.06 Mn |
| 7 | Interactive Brokers | 36.17 Bn | 29.63 Bn | - | 450.09 Mn |
| 8 | Cboe Global Markets | 35.59 Bn | 27.25 Bn | 731.60 Mn | 104.90 Mn |
| 9 | Northern Trust | 30.73 Bn | 30.73 Bn | - | 184.89 Mn |
| 10 | Tradeweb Markets | 28.70 Bn | 21.41 Bn | - | 212.80 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 563.31 Mn |
| Jun 30, 2026 | 567.75 Mn |
| Mar 31, 2026 | 571.75 Mn |
| Dec 31, 2025 | 578.60 Mn |
| Sep 30, 2025 | 578.98 Mn |
| Jun 30, 2025 | 578.98 Mn |
| Mar 31, 2025 | 579.98 Mn |
| Dec 31, 2024 | 579.19 Mn |
| Sep 30, 2024 | 579.02 Mn |
| Jun 30, 2024 | 578.95 Mn |
| Mar 31, 2024 | 578.93 Mn |
| Dec 31, 2023 | 508.39 Mn |
| Sep 30, 2023 | 494.11 Mn |
| Jun 30, 2023 | 493.63 Mn |
| Mar 31, 2023 | 494.77 Mn |
| Dec 31, 2022 | 497.86 Mn |
| Sep 30, 2022 | 496.34 Mn |
| Jun 30, 2022 | 496.58 Mn |
| Mar 31, 2022 | 501.74 Mn |
| Dec 31, 2021 | 505.09 Mn |
API Access
Nasdaq Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();