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Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its trading business (about 22.5% of sales), the company sells market and financial data to investors, offers Nasdaq-branded indexes, and lists companies through its capital access segment (42.5%). Nasdaq's newest segment, financial technology, was primarily constructed through the acquisitions of Verafin and Adenza and has expanded the company into capital management, financial crime, and regulatory compliance software (35%) as the firm seeks to become a diversified technology company.
1979
9.2K+
LTM Revenue $4.8B
LTM EBITDA $2.7B
$51.0B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Nasdaq has a last 12-month revenue of $4.8B and a last 12-month EBITDA of $2.7B.
In the most recent fiscal year, Nasdaq achieved revenue of $7.4B and an EBITDA of $2.5B.
Nasdaq expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Nasdaq valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $6.1B | $7.4B | XXX | XXX | XXX |
| Gross Profit | $2.3B | $2.5B | XXX | XXX | XXX |
| Gross Margin | 39% | 34% | XXX | XXX | XXX |
| EBITDA | $2.0B | $2.5B | XXX | XXX | XXX |
| EBITDA Margin | 33% | 33% | XXX | XXX | XXX |
| Net Profit | $1.1B | $1.1B | XXX | XXX | XXX |
| Net Margin | 19% | 14% | XXX | XXX | XXX |
| Net Debt | $4.9B | $10.0B | XXX | XXX | XXX |
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As of April 15, 2025, Nasdaq's stock price is $73.
Nasdaq has current market cap of $41.9B, and EV of $51.0B.
See Nasdaq trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $51.0B | $41.9B | XXX | XXX | XXX | XXX | $2.92 |
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Sign UpAs of April 15, 2025, Nasdaq has market cap of $41.9B and EV of $51.0B.
Nasdaq's trades at 10.7x LTM EV/Revenue multiple, and 18.9x LTM EBITDA.
Analysts estimate Nasdaq's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Nasdaq and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $51.0B | XXX | XXX | XXX |
| EV/Revenue | 6.9x | XXX | XXX | XXX |
| EV/EBITDA | 20.7x | XXX | XXX | XXX |
| P/E | 37.5x | XXX | XXX | XXX |
| P/E/Growth | 1.1x | XXX | XXX | XXX |
| EV/FCF | 29.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpNasdaq's NTM/LTM revenue growth is 8%
Nasdaq's revenue per employee for the last fiscal year averaged $0.8M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Nasdaq's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Nasdaq's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Nasdaq and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 22% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 33% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 23% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 41% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.8M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 5% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 14% | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| ASX | XXX | XXX | XXX | XXX | XXX | XXX |
| Euroxx Securities | XXX | XXX | XXX | XXX | XXX | XXX |
| Athens Exchange Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Cboe Global Markets | XXX | XXX | XXX | XXX | XXX | XXX |
| Indian Energy Exchange | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Nasdaq acquired XXX companies to date.
Last acquisition by Nasdaq was XXXXXXXX, XXXXX XXXXX XXXXXX . Nasdaq acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Sign Up| When was Nasdaq founded? | Nasdaq was founded in 1979. |
| Where is Nasdaq headquartered? | Nasdaq is headquartered in United States of America. |
| How many employees does Nasdaq have? | As of today, Nasdaq has 9.2K+ employees. |
| Who is the CEO of Nasdaq? | Nasdaq's CEO is Ms. Adena T. Friedman. |
| Is Nasdaq publicy listed? | Yes, Nasdaq is a public company listed on NAS. |
| What is the stock symbol of Nasdaq? | Nasdaq trades under NDAQ ticker. |
| When did Nasdaq go public? | Nasdaq went public in 2002. |
| Who are competitors of Nasdaq? | Similar companies to Nasdaq include e.g. ASX, Euroxx Securities, Athens Exchange Group, Cboe Global Markets. |
| What is the current market cap of Nasdaq? | Nasdaq's current market cap is $41.9B |
| What is the current revenue of Nasdaq? | Nasdaq's last 12-month revenue is $4.8B. |
| What is the current EBITDA of Nasdaq? | Nasdaq's last 12-month EBITDA is $2.7B. |
| What is the current EV/Revenue multiple of Nasdaq? | Current revenue multiple of Nasdaq is 10.7x. |
| What is the current EV/EBITDA multiple of Nasdaq? | Current EBITDA multiple of Nasdaq is 18.9x. |
| What is the current revenue growth of Nasdaq? | Nasdaq revenue growth between 2023 and 2024 was 22%. |
| Is Nasdaq profitable? | Yes, Nasdaq is EBITDA-positive (as of the last 12 months). |
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