Nasdaq (NDAQ) Tax Rate (2009 - 2026)
Nasdaq (NDAQ) recorded Tax Rate of 22.36% in Q2 2026, up 4.84 percentage points from 17.52% a year earlier but down 0.98 percentage points from the prior quarter.
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Analysis
Nasdaq (NDAQ) Tax Rate (2009 - 2026) Analysis & Trends
On a TTM basis, Nasdaq's Tax Rate came in at 19.35% as of Jun 30, 2026, up 1.66 percentage points year-over-year; for FY2025, it was 16.69%, down 6.36 percentage points from FY2024.
- Annual Tax Rate has a five-year change of -6.33 percentage points (FY2020 to FY2025).
- Across earlier years, Tax Rate came in at 23.05% in FY2024 (-1.50 pp), 24.55% in FY2023 (+0.69 pp), 23.86% in FY2022 (+1.24 pp) and 22.62% in FY2021 (-0.40 pp).
- Quarterly Tax Rate has ranged from 10.69% in Q4 2025 to 34.90% in Q2 2024 over the past five years.
- On a year-over-year basis, Tax Rate rose in three of the last eight quarters, with an average year-over-year change of -4.76 percentage points.
- Peak year-over-year performance for Tax Rate in the last five years was a gain of 14.13 percentage points in Q2 2024, against a drop of 17.38 percentage points in Q2 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 23.34% (Q1 2026), 10.69% (Q4 2025) and 20.04% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 101.14 Bn | 82.23 Bn | - | 19.18% |
| 2 | Bank of New York Mellon | 98.14 Bn | 37.51 Bn | - | 20.95% |
| 3 | Cme | 94.12 Bn | 94.12 Bn | - | 21.53% |
| 4 | Intercontinental Exchange | 85.35 Bn | 79.16 Bn | - | 24.24% |
| 5 | Nasdaq | 51.71 Bn | 49.14 Bn | 1.50 Bn | 22.36% |
| 6 | State Street | 47.94 Bn | 47.94 Bn | - | 21.96% |
| 7 | Interactive Brokers | 38.49 Bn | 31.95 Bn | - | 8.10% |
| 8 | Northern Trust | 30.99 Bn | 30.99 Bn | - | 25.59% |
| 9 | Cboe Global Markets | 28.76 Bn | 20.41 Bn | 731.60 Mn | 28.62% |
| 10 | LPL Financial Holdings | 24.08 Bn | 19.40 Bn | - | 26.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.36% |
| Mar 31, 2026 | 23.34% |
| Dec 31, 2025 | 10.69% |
| Sep 30, 2025 | 20.04% |
| Jun 30, 2025 | 17.52% |
| Mar 31, 2025 | 19.06% |
| Dec 31, 2024 | 19.13% |
| Sep 30, 2024 | 14.33% |
| Jun 30, 2024 | 34.90% |
| Mar 31, 2024 | 25.32% |
| Dec 31, 2023 | 29.50% |
| Sep 30, 2023 | 24.81% |
| Jun 30, 2023 | 20.77% |
| Mar 31, 2023 | 23.99% |
| Dec 31, 2022 | 25.47% |
| Sep 30, 2022 | 23.04% |
| Jun 30, 2022 | 22.67% |
| Mar 31, 2022 | 24.33% |
| Dec 31, 2021 | 17.52% |
| Sep 30, 2021 | 22.37% |
API Access
Nasdaq Tax Rate 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=tax-rate&ticker=NDAQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=NDAQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();