How does Nasdaq (NDAQ) make money?

Nasdaq (NDAQ) generates revenue primarily from Market Services, which accounted for 50% of total revenue in TTM through Q1 2026. The company reported $8.27B in revenue and converted 23.1% of it into net profit, equivalent to roughly $1.91B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Nasdaq (NDAQ)?

Nasdaq (NDAQ) reported a gross profit margin of 54.8% in TTM through Q1 2026, equivalent to $4.53B in gross profit on $8.27B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Nasdaq (NDAQ)?

Nasdaq (NDAQ) reported an operating profit margin of 29.5% in TTM through Q1 2026, equivalent to $2.44B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Nasdaq (NDAQ)?

Nasdaq (NDAQ) reported a net profit margin of 23.1% in TTM through Q1 2026, equivalent to $1.91B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Nasdaq (NDAQ) profitable?

Yes. Nasdaq (NDAQ) reported $1.91B in net income for TTM through Q1 2026, with a net profit margin of 23.1%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Nasdaq (NDAQ) spend on capital expenditures?

Nasdaq (NDAQ) spent $277.00M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 3.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Nasdaq (NDAQ) generate?

Nasdaq (NDAQ) generated $2.00B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 24.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Nasdaq (NDAQ)?

Nasdaq (NDAQ) had an effective tax rate of 18% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Nasdaq (NDAQ)?

Nasdaq (NDAQ) reports revenue across 3 reportable product segments, led by Market Services at 50% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Nasdaq (NDAQ) generate most of its revenue?

UNITED STATES is the largest geographic market for Nasdaq (NDAQ), accounting for 69.4% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Nasdaq Makes Money: 2026 Visual Revenue Map

Nasdaq (NDAQ) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 24, 2026).

Nasdaq (NDAQ) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Nasdaq (NDAQ) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Market Services	$4.14B	50%
Capital Access Platforms	$2.19B	26.5%
Market Technology	$1.94B	23.5%
Total	$8.27B	100%

Market Services$4.14B
Capital Access Platforms$2.19B
Market Technology$1.94B
Total$8.27B

Nasdaq (NDAQ) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Nasdaq (NDAQ), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$5.77B	69.4%
Non-US	$2.54B	30.6%
Total	$8.31B	100%

UNITED STATES
Non-US
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Nasdaq (NDAQ) reports revenue across 3 operating segments; the largest segment was Market Services at 50%, followed by Capital Access Platforms (26.5%) and Market Technology (23.5%). Separately, by end-market geography, UNITED STATES accounted for 69.4% of revenue, followed by Non-US (30.6%).

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