Nasdaq, Inc. (NDAQ)

Nasdaq: NDAQ · Security & Commodity Brokers, Dealers, Exchanges & Services · New York, NY · filing with the SEC since 2001

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Grade5.8

◀ Past 5.4● Present 6.9▶ Future 5.0

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Income statement, as filed

In millions of US dollars (USD), as filed; per-share figures in US dollars; share counts. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Feb 12, 2026	Feb 21, 2025	Feb 21, 2024	Feb 23, 2023	Feb 23, 2022	Feb 23, 2021	Feb 25, 2020	Feb 22, 2019	Feb 28, 2018	Mar 1, 2017
Revenue	8,262	7,400	6,064	6,226	5,886	5,625^r	4,258^r	4,277	3,948	3,704
Cost of revenue	3,013	2,751	2,169	2,644	2,466	2,722^r	1,723^r	1,751	1,537	1,428
Gross profit	5,249	4,649	3,895	3,582	3,420	2,903	2,535	2,526	2,411^r	2,276^r
General and administrative	75	109	113	125	85	142	125	120	82	73^r
Total operating expenses	2,918	2,851	2,317	2,018	1,979	1,669	1,518	1,498	1,420^r	1,440^r
Total costs and expenses	1,914	1,777^r	1,491^r	1,417	·	·	·	·	·	·
Operating income	2,331	1,798	1,578	1,564	1,441	1,234	1,017	1,028	991^r	836^r
Interest expense	367	414	284	129	125	101	124	150	143	135
Interest and investment income	39	28	115	7	1	4	10	10	7	5
Share of profit of equity-method investments	83	16	-7	31	52	70	84	18	15	2
Other income (expense), net	-27	21	-1	2	81	5	·	·	·	·
Income before income taxes	2,145	1,449	1,401	1,475	1,534	1,212	1,019	1,064	872^r	133^r
Income tax expense	358	334	344	352	347	279	245	606	143^r	27^r
Net income including non-controlling interests	1,787	1,115	1,057	1,123	1,187	933	·	458	729^r	106^r
Net income to non-controlling interests	-1	-2	-2	-2	0	0	·	·	0	0
Net income	1,788	1,117	1,059	1,125	1,187	933	774	458	729^r	106^r
Earnings per share, basic	3.12	1.94	2.10	2.28	2.38^r	1.89^r	1.5633^b	0.9233^b	1.46^rb	0.2133^rb
Earnings per share, diluted	3.09	1.93	2.08	2.26	2.35^r	1.86^r	1.5433^b	0.91^b	1.4333^rb	0.21^rb
Weighted average shares, basic	573,257,760	575,428,536	504,909,392	492,420,787	497,698,377^r	493,245,573^r	494,794,884^b	496,048,413^b	499,092,897^b	495,546,870^b
Weighted average shares, diluted	578,597,687	579,189,522	508,392,982	497,857,565	505,087,566^r	500,711,823^r	500,910,483^b	503,073,897^b	508,755,093^b	506,402,991^b

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 3-for-1 split of Aug 2022.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Revenue what customers paid for what it sold

us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
us-gaap:Revenues

Cost of revenue what it cost to make or buy what it sold

us-gaap:CostOfGoodsAndServicesSold
us-gaap:CostOfRevenue

Gross profit revenue less the cost of what it soldus-gaap:GrossProfit

General and administrative the cost of running the company itselfus-gaap:GeneralAndAdministrativeExpense

Total operating expenses the running costs togetherus-gaap:OperatingExpenses

Total costs and expenses every operating cost, the cost of revenue includedus-gaap:CostsAndExpenses

Operating income profit from running the business, before interest and taxus-gaap:OperatingIncomeLoss

Interest expense what its borrowing cost

us-gaap:InterestExpenseNonoperating
us-gaap:InterestExpense

Interest and investment income what its cash and investments earnedus-gaap:InvestmentIncomeInterest

Share of profit of equity-method investments its share of companies it partly ownsus-gaap:IncomeLossFromEquityMethodInvestments

Other income (expense), net gains and costs outside the businessus-gaap:OtherNonoperatingIncomeExpense

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Net income including non-controlling interests the whole group's profit, minority holders' share includedus-gaap:ProfitLoss

Net income to non-controlling interests the share that belongs to minority holdersus-gaap:NetIncomeLossAttributableToNoncontrollingInterest

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

SI Assistanton NDAQ · research, not advice