Nasdaq Financial Statements
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At close: Oct 9, 4:00 PM ET · Delayed 15 min
Nasdaq revenue and earnings
In fiscal 2025, Nasdaq generated $8.26 billion in revenue, up 11.6% from fiscal 2024, its 2nd consecutive year of revenue growth. Net income was $1.79 billion (+60.1% year over year), for a net margin of 21.6% versus a median of 17.5% in the prior 5 years. Gross margin was 63.5% (up from 62.8%) and operating margin 28.2%.
Diluted earnings per share came in at $3.09, up from $1.93. Over the last 5 fiscal years, NDAQ's revenue has grown at a 8.0% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Nasdaq income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8.26B | 7.40B | 6.06B | 6.23B | 5.89B | 5.63B | 4.26B | 4.28B | 3.95B | 3.70B |
| Revenue growth (YoY) | +11.65% | +22.03% | -2.60% | +5.78% | +4.64% | +32.10% | -0.44% | +8.33% | +6.59% | +8.85% |
| Cost of Revenue | 3.01B | 2.75B | 2.17B | 2.64B | 2.47B | 2.72B | 1.72B | 1.75B | 1.54B | 1.43B |
| Gross Profit | 5.25B | 4.65B | 3.90B | 3.58B | 3.42B | 2.90B | 2.54B | 2.53B | 2.41B | 2.28B |
| Operating Expenses | 2.92B | 2.85B | 2.32B | 2.02B | 1.98B | 1.67B | 1.52B | 1.50B | 1.42B | 1.44B |
| Operating Income | 2.33B | 1.80B | 1.58B | 1.56B | 1.44B | 1.23B | 1.02B | 1.03B | 991.00M | 836.00M |
| Interest Expense | 367.00M | 414.00M | 284.00M | 129.00M | 125.00M | 101.00M | 124.00M | 150.00M | 143.00M | 135.00M |
| Other Income (Expense) | -27.00M | 21.00M | -1.00M | 2.00M | 81.00M | 5.00M | 5.00M | 7.00M | 2.00M | — |
| Pretax Income | 2.15B | 1.45B | 1.40B | 1.48B | 1.53B | 1.21B | 1.02B | 1.06B | 872.00M | 133.00M |
| Income Tax | 358.00M | 334.00M | 344.00M | 352.00M | 347.00M | 279.00M | 245.00M | 606.00M | 143.00M | 27.00M |
| Net Income | 1.79B | 1.12B | 1.06B | 1.13B | 1.19B | 933.00M | 774.00M | 458.00M | 729.00M | 106.00M |
| Net Income growth (YoY) | +60.07% | +5.48% | -5.87% | -5.22% | +27.22% | +20.54% | +69.00% | -37.17% | +587.74% | -75.23% |
| EPS (Basic) | 3.12 | 1.94 | 2.10 | 2.28 | 2.38 | 1.89 | 4.69 | 2.77 | 4.38 | 0.64 |
| EPS (Diluted) | 3.09 | 1.93 | 2.08 | 2.26 | 2.35 | 1.86 | 4.63 | 2.73 | 4.30 | 0.63 |
| Shares Outstanding (Basic) | 573.26M | 575.43M | 504.91M | 492.42M | 497.70M | 493.25M | 164.93M | 165.35M | 166.36M | 165.18M |
| Shares Outstanding (Diluted) | 578.60M | 579.19M | 508.39M | 497.86M | 505.09M | 500.71M | 166.97M | 167.69M | 169.59M | 168.80M |
| EBITDA | 2.48B | 1.92B | 1.70B | 1.67B | 1.55B | 1.33B | 1.11B | 1.13B | 1.09B | 924.00M |
| Gross Margin | 63.53% | 62.82% | 64.23% | 57.53% | 58.10% | 51.61% | 59.53% | 59.06% | 61.07% | 61.45% |
| Operating Margin | 28.21% | 24.30% | 26.02% | 25.12% | 24.48% | 21.94% | 23.88% | 24.04% | 25.10% | 22.57% |
| Net Margin | 21.64% | 15.09% | 17.46% | 18.07% | 20.17% | 16.59% | 18.18% | 10.71% | 18.47% | 2.86% |
This table shows 10 annual periods of Nasdaq's income statement, from FY 2025 back to FY 2016, across 18 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow NDAQ's reporting calendar. What is a income statement?