Nasdaq Cash Flow Statement
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At close: Oct 9, 4:00 PM ET · Delayed 15 min
Nasdaq free cash flow
In fiscal 2025, Nasdaq generated $2.25 billion of operating cash flow and spent $266.0 million on capital expenditures. That left free cash flow of $1.99 billion, a free-cash-flow margin of 24.1% of revenue. Free cash flow was up 14.8% from the prior year's $1.73 billion.
Nasdaq returned $1.22 billion to shareholders: $601.0 million in dividends and $616.0 million in share repurchases, equal to 61% of free cash flow. Free cash flow covered dividend payments 3.3 times.
Summary generated from market data by MetaCap's automated system. Methodology
Nasdaq cash flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 1.79B | 1.11B | 1.06B | 1.12B | 1.19B | 933.00M | 774.00M | 458.00M | 729.00M | 106.00M |
| Net Income growth (YoY) | +60.27% | +5.49% | -5.88% | -5.39% | +27.22% | +20.54% | +69.00% | -37.17% | +587.74% | -75.18% |
| Depreciation & Amortization | 145.00M | 125.00M | 117.00M | 105.00M | 108.00M | 99.00M | 89.00M | 101.00M | 96.00M | 88.00M |
| Stock-Based Compensation | 165.00M | 141.00M | 122.00M | 106.00M | 90.00M | 87.00M | 79.00M | 69.00M | 70.00M | 86.00M |
| Change in Working Capital | 59.00M | -223.00M | 186.00M | -13.00M | -335.00M | -133.00M | -62.00M | 85.00M | -74.00M | -74.00M |
| Operating Cash Flow | 2.25B | 1.94B | 1.70B | 1.71B | 1.08B | 1.25B | 963.00M | 1.03B | 909.00M | 776.00M |
| Capital Expenditures | -266.00M | -207.00M | -158.00M | -152.00M | -163.00M | -188.00M | -127.00M | -111.00M | -144.00M | -134.00M |
| Investing Cash Flow | -1.10B | -953.00M | -5.99B | 49.00M | -2.65B | -122.00M | -414.00M | 196.00M | -890.00M | -1.66B |
| Dividends Paid | -601.00M | -541.00M | -441.00M | -383.00M | -350.00M | -320.00M | -305.00M | -280.00M | -243.00M | -200.00M |
| Share Repurchases | -616.00M | -145.00M | -269.00M | -308.00M | -468.00M | -222.00M | -200.00M | -394.00M | -203.00M | -100.00M |
| Debt Issued | 0 | 0 | 5.61B | 539.00M | 826.00M | 3.81B | 680.00M | 0 | 653.00M | 2.46B |
| Debt Repaid | -826.00M | -521.00M | -260.00M | -1.10B | -804.00M | -1.47B | -1.22B | -115.00M | -708.00M | -1.16B |
| Financing Cash Flow | -2.95B | -2.56B | 4.22B | 1.04B | 1.42B | 1.91B | -2.47B | -1.03B | -53.00M | 948.00M |
| Net Change in Cash | -1.07B | -2.11B | 124.00M | 1.50B | -483.00M | 3.39B | -2.11B | 187.00M | -19.00M | 61.00M |
| Free Cash Flow | 1.99B | 1.73B | 1.54B | 1.55B | 920.00M | 1.06B | 836.00M | 917.00M | 765.00M | 642.00M |
This table shows 10 annual periods of Nasdaq's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow NDAQ's reporting calendar. What is a cash flow statement?