Question 1

What is Nasdaq's P/E ratio?

Accepted Answer

Nasdaq (NDAQ) P/E ratio is 26.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Nasdaq?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Nasdaq specifically, the relevant sector benchmark is the current sector median of 12.8×.

Question 5

Is Nasdaq's P/E ratio high or low?

Accepted Answer

Nasdaq's P/E ratio of 26.1× is below its own 5-year average of 29.5× and above the sector median of 12.8×. That places the current reading at the 33th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Nasdaq's historical P/E ratio range?

Accepted Answer

In the available daily series, Nasdaq (NDAQ) P/E ratio has ranged from a low of 8.0× in 2008 to a high of 113.8× in 2004. The 5-year average is 29.5× and the 5-year median is 28.8×.

Question 7

What was Nasdaq's P/E ratio in 2025?

Accepted Answer

Nasdaq (NDAQ) P/E ratio at the end of 2025 was 31.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Nasdaq's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$55.43B	$1.79B	31.0×	-8.8×	Dec 31, 2025
2024	$44.46B	$1.12B	39.8×	+9.8×	Dec 31, 2024
2023	$31.81B	$1.06B	30.0×	+3.2×	Dec 31, 2023
2022	$30.14B	$1.13B	26.8×	-2.8×	Dec 31, 2022
2021	$35.09B	$1.19B	29.6×	+6.2×	Dec 31, 2021
2020	$21.84B	$933.00M	23.4×	+0.6×	Dec 31, 2020
2019	$17.62B	$774.00M	22.8×	-6.4×	Dec 31, 2019
2018	$13.36B	$458.00M	29.2×	+11.6×	Dec 31, 2018
2017	$12.82B	$730.00M	17.6×	-84.5×	Dec 31, 2017
2016	$11.13B	$109.00M	102.1×	+79.7×	Dec 31, 2016
2015	$9.57B	$428.00M	22.4×	+2.8×	Dec 31, 2015
2014	$8.07B	$413.00M	19.5×	+2.1×	Dec 31, 2014
2013	$6.70B	$384.00M	17.4×	+5.8×	Dec 31, 2013
2012	$4.11B	$353.00M	11.6×	+0.7×	Dec 31, 2012
2011	$4.24B	$387.00M	11.0×	+0.4×	Dec 31, 2011
2010	$4.18B	$395.00M	10.6×	-5.2×	Dec 31, 2010
2009	$4.19B	$266.00M	15.7×	+0.0×	Dec 31, 2009
2008	$4.96B	$315.76M	15.7×	+0.3×	Dec 31, 2008
2007	$8.01B	$518.40M	15.5×	-15.2×	Dec 31, 2007
2006	$3.90B	$127.29M	30.6×	-50.3×	Dec 31, 2006
2005	$4.46B	$55.10M	80.9×	-32.8×	Dec 31, 2005
2004	$1.29B	$11.36M	113.8×	—	Dec 31, 2004
2003	$865.62M	−$105.45M	—	—	Dec 31, 2003
2002	$782.62M	$40.69M	19.2×	-9.7×	Dec 31, 2002
2001	$1.17B	$40.46M	28.9×	—	Dec 31, 2001


Globe Life (GL-PD)	9.7×
UMB Financial (UMBF)	9.7×
T. Rowe Price (TROW)	9.6×
Everest Re Group (RE)	9.6×
Old Republic International (ORI)	9.5×
First Financial (THFF)	9.3×
Globe Life (GL)	9.3×
The Hartford (HIG)	9.3×
Assured Guaranty (AGO)	8.9×
Cincinnati Financial (CINF)	8.8×
Federal Agricultural Mortgage (AGM)	8.8×
Ally Financial (ALLY)	8.7×
Travelers Companies (TRV)	8.3×
PayPal (PYPL)	8.2×
Farmers & Merchants Bancorp (FMCB)	8.0×
Chesapeake Financial Shares (CPKF)	7.6×
PSB Holdings (PSBQ)	7.5×
Arch Capital Group (ACGL)	7.1×
AXIS Capital Holdings (AXS)	7.0×
Tompkins Financial (TMP)	6.7×
Everest Re Group (EG)	6.5×
Synchrony Financial (SYF)	6.5×
Mercury General (MCY)	5.8×
RenaissanceRe Holdings (RNR)	4.5×
Allstate (ALL)	4.4×

P/E Ratio for Nasdaq (NDAQ)

P/E Ratio daily chart for Nasdaq (NDAQ)

Historical P/E Ratio for Nasdaq (NDAQ) from 2001 to 2025

About P/E Ratio at Nasdaq (NDAQ)

Nasdaq P/E Ratio by Year

Nasdaq P/E Ratio 2025: 31.0×

Nasdaq P/E Ratio 2024: 39.8×

Nasdaq P/E Ratio 2023: 30.0×

Nasdaq P/E Ratio 2022: 26.8×

Nasdaq P/E Ratio 2021: 29.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Nasdaq (NDAQ) Key Financials

P/E Ratio daily chart for Nasdaq (NDAQ)

Historical P/E Ratio for Nasdaq (NDAQ) from 2001 to 2025

About P/E Ratio at Nasdaq (NDAQ)

Nasdaq P/E Ratio by Year

Nasdaq P/E Ratio 2025: 31.0×

Nasdaq P/E Ratio 2024: 39.8×

Nasdaq P/E Ratio 2023: 30.0×

Nasdaq P/E Ratio 2022: 26.8×

Nasdaq P/E Ratio 2021: 29.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Nasdaq's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Nasdaq?

+Is Nasdaq's P/E ratio high or low?

+What is Nasdaq's historical P/E ratio range?

+What was Nasdaq's P/E ratio in 2025?

+Why does Nasdaq's P/E ratio change over time?

Nasdaq (NDAQ) Key Financials