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OVER VIEW Nasdaq is a leading technology platform that powers the world s economies. We architect the infrastructure of the world s most modern markets, power the innovation economy, and build trust in the financial system.
28.21% operating margin is above average. ROIC at 9.03%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 11.6% YoY with margins expanding 3.9pp.
Net debt of $9.35B represents 4.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$8.30B
▲ +11.6% YoY
Net Income (TTM)
$1.91B
▲ +60.1% YoY
Op. Margin
29.40%
▲ +3.9pp YoY
ROIC
9.15%
▲ +2.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.00B
▲ +14.8% YoY
Op. Cash Flow (TTM)
$2.28B
▲ +16.3% YoY
Net Debt
$9.43B
Cash & Equiv.
$515M
5Y CAGR: +8.0%
5Y CAGR: +13.3%
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