Question 1

What is Nasdaq's P/S ratio?

Accepted Answer

Nasdaq (NDAQ) P/S ratio is 6.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Nasdaq?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Nasdaq specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

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

Accepted Answer

Nasdaq's P/S ratio of 6.0× is above its own 5-year average of 5.3× and above the sector median of 2.2×. That places the current reading at the 68th 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/S ratio range?

Accepted Answer

In the available daily series, Nasdaq (NDAQ) P/S ratio has ranged from a low of 0.9× in 2003 to a high of 7.2× in 2026. The 5-year average is 5.3× and the 5-year median is 5.4×.

Question 7

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

Accepted Answer

Nasdaq (NDAQ) P/S ratio at the end of 2025 was 6.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$8.22B	6.7×	+0.7×	Dec 31, 2025
2024	$44.46B	$7.40B	6.0×	+0.8×	Dec 31, 2024
2023	$31.81B	$6.06B	5.2×	+0.4×	Dec 31, 2023
2022	$30.14B	$6.23B	4.8×	-1.1×	Dec 31, 2022
2021	$35.09B	$5.89B	6.0×	+2.1×	Dec 31, 2021
2020	$21.84B	$5.63B	3.9×	-0.3×	Dec 31, 2020
2019	$17.62B	$4.26B	4.1×	+1.0×	Dec 31, 2019
2018	$13.36B	$4.28B	3.1×	-0.1×	Dec 31, 2018
2017	$12.82B	$3.95B	3.2×	+0.2×	Dec 31, 2017
2016	$11.13B	$3.70B	3.0×	+0.2×	Dec 31, 2016
2015	$9.57B	$3.40B	2.8×	+0.5×	Dec 31, 2015
2014	$8.07B	$3.50B	2.3×	+0.2×	Dec 31, 2014
2013	$6.70B	$3.21B	2.1×	+0.8×	Dec 31, 2013
2012	$4.11B	$3.12B	1.3×	+0.1×	Dec 31, 2012
2011	$4.24B	$3.43B	1.2×	-0.1×	Dec 31, 2011
2010	$4.18B	$3.22B	1.3×	+0.1×	Dec 31, 2010
2009	$4.19B	$3.41B	1.2×	-0.1×	Dec 31, 2009
2008	$4.96B	$3.65B	1.4×	-1.9×	Dec 31, 2008
2007	$8.01B	$2.44B	3.3×	+0.9×	Dec 31, 2007
2006	$3.90B	$1.66B	2.4×	-2.7×	Dec 31, 2006
2005	$4.46B	$879.92M	5.1×	+2.7×	Dec 31, 2005
2004	$1.29B	$540.44M	2.4×	+0.9×	Dec 31, 2004
2003	$865.62M	$579.61M	1.5×	+0.5×	Dec 31, 2003
2002	$782.62M	$816.03M	1.0×	-0.4×	Dec 31, 2002
2001	$1.17B	$857.23M	1.4×	—	Dec 31, 2001


Brookfield (BN)	1.3×
The Hartford (HIG)	1.3×
Chesapeake Financial Shares (CPKF)	1.3×
American Financial Group (AFG)	1.3×
Progressive (PGR)	1.3×
Markel (MKL)	1.3×
PSB Holdings (PSBQ)	1.3×
Principal Financial Group (PFG)	1.3×
Travelers Companies (TRV)	1.3×
PayPal (PYPL)	1.2×
Loews (L)	1.2×
Synchrony Financial (SYF)	1.2×
Citigroup (C)	1.2×
AXIS Capital Holdings (AXS)	1.1×
RenaissanceRe Holdings (RNR)	1.1×
Old Republic International (ORI)	1.0×
Everest Re Group (RE)	0.9×
Assurant (AIZ)	0.8×
Allstate (ALL)	0.8×
Mercury General (MCY)	0.8×
Ally Financial (ALLY)	0.8×
Everest Re Group (EG)	0.8×
MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×

P/S Ratio for Nasdaq (NDAQ)

P/S Ratio daily chart for Nasdaq (NDAQ)

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

About P/S Ratio at Nasdaq (NDAQ)

Nasdaq P/S Ratio by Year

Nasdaq P/S Ratio 2025: 6.7×

Nasdaq P/S Ratio 2024: 6.0×

Nasdaq P/S Ratio 2023: 5.2×

Nasdaq P/S Ratio 2022: 4.8×

Nasdaq P/S Ratio 2021: 6.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Nasdaq (NDAQ) Key Financials

P/S Ratio daily chart for Nasdaq (NDAQ)

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

About P/S Ratio at Nasdaq (NDAQ)

Nasdaq P/S Ratio by Year

Nasdaq P/S Ratio 2025: 6.7×

Nasdaq P/S Ratio 2024: 6.0×

Nasdaq P/S Ratio 2023: 5.2×

Nasdaq P/S Ratio 2022: 4.8×

Nasdaq P/S Ratio 2021: 6.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Nasdaq's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

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

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

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

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

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

Nasdaq (NDAQ) Key Financials