US · NDAQ
Nasdaq, Inc.
- Sector
- Financial Services · Financial - Data & Stock Exchanges
- Headquarters
- New York City, NY 10036
- Website
- nasdaq.com
Price · as of 2025-12-31
$91.32
Market cap 50.01B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $77.89 | -14.71% |
| Intrinsic Value(DCF) | $36.56 | -59.96% |
| Graham-Dodd Method(GD) | — | — |
| Graham Formula(GF) | $58.47 | -35.97% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $7.00 | $33.87 | $2.13 | $3.50 | $11.43 |
| 2012 | $8.67 | $32.51 | $1.24 | $1.30 | $0.00 |
| 2013 | $11.22 | $33.43 | $3.32 | $1.23 | $8.46 |
| 2014 | $14.02 | $35.23 | $3.13 | $1.69 | $13.68 |
| 2015 | $18.73 | $35.12 | $2.99 | $0.24 | $4.65 |
| 2016 | $20.51 | $35.81 | $4.09 | $0.00 | $3.61 |
| 2017 | $25.51 | $38.73 | $4.21 | $0.00 | $21.24 |
| 2018 | $25.07 | $38.70 | $9.51 | $0.00 | $14.93 |
| 2019 | $33.85 | $41.44 | $2.62 | $0.00 | $12.12 |
| 2020 | $44.97 | $54.77 | $80.22 | $0.00 | $73.64 |
| 2021 | $51.96 | $52.63 | $34.66 | $0.00 | $29.89 |
| 2022 | $50.40 | $54.20 | $15.32 | $0.00 | $31.25 |
| 2023 | $58.45 | $62.83 | $6.70 | $0.00 | $11.76 |
| 2024 | $73.75 | $68.75 | $2.98 | $0.00 | $56.66 |
| 2025 | $88.09 | $77.89 | $1.84 | $0.00 | $58.47 |
AI valuation
Our deep-learning model estimates Nasdaq, Inc.'s (NDAQ) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $77.89
- Current price
- $91.32
- AI upside
- -14.71%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$36.56
-59.96% upside
Graham-Dodd
—
— upside
Graham Formula
$58.47
-35.97% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| NDAQ | Nasdaq, Inc. | $91.32 | 50.01B | -15% | -60% | — | -36% | 28.13 | 4.11 | 6.12 | 18.98 | 46.81 | -5.81 | 47.93% | 28.36% | 21.77% | 15.26% | 9.35% | 5.82% | 0.81 | 26.49 | 1.01 | 0.22 | 2.91 | 6010.00% | 1105.00% | 1484.00% | 3.96% | 0.28 | 9.56% | 1.20% | 33.60% | 2.74% | 25.47 | 29.84 | 7.22 | 2.55 |
| CME | CME Group Inc. | $319.50 | 114.86B | -52% | -49% | -67% | -50% | 29.03 | 4.09 | 18.01 | 20.33 | 188.40 | -74.66 | 86.09% | 64.86% | 62.02% | 14.65% | 11.81% | 2.41% | 0.12 | 32.61 | 0.00 | 0.03 | -0.18 | 1541.00% | 637.00% | 1892.00% | 3.64% | 0.03 | 15.69% | 0.00% | 0.00% | 1.31% | 27.49 | 27.19 | 17.83 | -0.45 |
| FDS | FactSet Research Systems … | $216.81 | 8.11B | +25% | -26% | -82% | -3% | 16.53 | 4.51 | 4.25 | 11.46 | 140.19 | -9.73 | 52.72% | 32.23% | 25.72% | 29.13% | 19.41% | 14.28% | 0.71 | 13.29 | 1.40 | 1.20 | 1.26 | 1179.00% | 539.00% | 46.00% | 6.26% | 1.39 | 19.34% | 1.62% | 26.80% | 4.67% | 14.80 | 17.93 | 4.77 | 4.72 |
| ICE | Intercontinental Exchange… | $164.13 | 93.58B | -12% | -57% | — | -46% | 27.93 | 3.25 | 7.45 | 16.68 | 134.84 | -5.51 | 61.88% | 38.74% | 26.14% | 11.92% | 8.17% | 2.44% | 0.70 | 6.27 | 1.02 | 0.08 | 2.93 | 2071.00% | 746.00% | 205.00% | 4.56% | 0.06 | 9.27% | 1.17% | 32.80% | 3.09% | 22.63 | 25.83 | 8.77 | 0.96 |
| MCO | Moody's Corporation | $477.59 | 84.68B | -18% | -30% | — | -52% | 33.95 | 20.59 | 10.82 | 22.46 | 158.61 | -19.97 | 68.15% | 44.77% | 31.86% | 64.55% | 31.43% | 15.69% | 1.81 | 18.28 | 1.74 | 1.50 | 1.26 | 2140.00% | 889.00% | 214.00% | 3.08% | 0.97 | 29.78% | 0.84% | 28.50% | 3.33% | 25.58 | 34.32 | 11.45 | 7.26 |
| MSCI | MSCI Inc. | $571.83 | 42.97B | -14% | -57% | — | -52% | 36.83 | -16.68 | 14.13 | 25.92 | 342.68 | -6.91 | 82.44% | 54.67% | 38.36% | -66.90% | 42.75% | 21.57% | -2.38 | 8.16 | 0.90 | 0.82 | 3.00 | 1075.00% | 975.00% | 554.00% | 3.50% | 0.87 | 48.03% | 1.26% | 46.30% | 6.87% | 29.22 | 32.32 | 15.98 | 6.01 |
| SPGI | S&P Global Inc. | $441.88 | 133.8B | -6% | -48% | — | -48% | 28.02 | 4.32 | 8.81 | 19.17 | 149.80 | -6.28 | 70.25% | 42.24% | 29.15% | 14.97% | 11.52% | 7.94% | 0.45 | 22.57 | 0.82 | 0.69 | 1.62 | 1870.00% | 794.00% | -196.00% | 4.04% | 0.74 | 12.54% | 0.87% | 24.30% | 4.57% | 22.76 | 27.03 | 9.61 | 4.35 |
About Nasdaq, Inc.
Nasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions. This segment also handles assets, such as cash equities, equity derivatives, currencies, interest-bearing securities, commodities, energy products, and digital currencies. The Investment Intelligence segment sells and distributes historical and real-time market data; develops and licenses Nasdaq-branded indexes and financial products; and provides investment insights and workflow solutions. The Corporate Platforms segment operates listing platforms; and offers investor relations intelligence and governance solutions. As of December 31, 2021, it had 4,178 companies listed securities on The Nasdaq Stock Market, including 1,632 listings on The Nasdaq Global Select Market; 1,169 on The Nasdaq Global Market; and 1,377 on The Nasdaq Capital Market. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses. This segment operates various exchanges and other marketplace facilities across various asset classes, which include derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and provides broker, clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.
- CEO
- Adena T. Friedman
- Employees
- 9.38K
- Beta
- 1.02
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($36.56 ÷ $91.32) − 1 = -59.96% (DCF, example).