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Nasdaq (NDAQ)
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Nasdaq Balance Sheet 2025-2007 | NDAQ
Brief balance sheet overview of Nasdaq
This overview follows the five latest available annual observations between 2021 and 2025.
Assets reached $31.1 billion, compared with $20.1 billion at the beginning. Growth of +54.4% and CAGR near 11.5% show active expansion.
Assets outpaced liabilities, +54.4% versus +37.3%. Dependence on external funding declined.
Given the financial profile, the capital cushion is the main focus. It covers 39.4% of assets versus 31.8% five periods ago.
Accumulated earnings ended at $9.6 billion, a change of +48.3%. They remain an important part of the capital base.
What the balance sheet shows
Nasdaq's financial position is positive on balance sheet evidence. Growth in resources has not undermined capital strength.
Annual Balance Sheet Nasdaq
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
8.03 B | 8.54 B | 9.77 B | 4.29 B | 4.46 B | 2.84 B | 3.06 B | 3.29 B | 3.83 B | 3.44 B | 2.26 B | 2.06 B | 2.21 B | 1.48 B | 1.61 B | 2.01 B | 1.5 B | - | - |
Long Term Debt |
8.57 B | 9.08 B | 10.2 B | 4.74 B | 4.81 B | 5.54 B | 3 B | 2.96 B | 3.73 B | 3.6 B | 2.36 B | 2.31 B | 2.59 B | 1.93 B | 2.07 B | 2.18 B | 1.87 B | - | - |
Long Term Debt Current |
60 M | 55 M | 62 M | 54 M | 37 M | 46 M | 61 M | - | - | - | - | - | 45 M | 45 M | 45 M | 140 M | 225 M | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 4.06 B | 3.68 B | 4.64 B | 4.64 B | 3.31 B | 3.31 B | 3.59 B | 3 B | 3.08 B | - | - | - | - |
Total Current Liabilities |
7.96 B | 7.9 B | 9.02 B | 8.84 B | 7.87 B | 4.92 B | 4.23 B | 6.57 B | 5.26 B | 4.08 B | 2.94 B | 2.98 B | 2.8 B | 927 M | 6.03 B | 8.23 B | 2.85 B | - | - |
Total Liabilities |
18.8 B | 19.2 B | 21.5 B | 14.7 B | 13.7 B | 11.5 B | 8.28 B | 10.3 B | 9.9 B | 8.72 B | 6.25 B | 6.29 B | 6.39 B | 3.92 B | 9.1 B | 11.5 B | 5.76 B | - | - |
Deferred Revenue |
785 M | 711 M | 594 M | 357 M | 329 M | 235 M | 211 M | 194 M | 189 M | 162 M | 127 M | 177 M | 151 M | 139 M | 124 M | 122 M | 105 M | - | - |
Retained Earnings |
9.59 B | 8.4 B | 7.82 B | 7.21 B | 6.46 B | 5.63 B | 5.03 B | 4.56 B | 3.97 B | 3.48 B | 3.57 B | 3.29 B | 2.98 B | 2.68 B | 2.39 B | 2 B | 1.61 B | - | - |
Total Assets |
31.1 B | 30.4 B | 32.3 B | 20.9 B | 20.1 B | 18 B | 13.9 B | 15.7 B | 15.8 B | 14.2 B | 11.9 B | 12.1 B | 12.6 B | 9.13 B | 14.1 B | 16.2 B | 10.7 B | - | - |
Cash and Cash Equivalents |
604 M | 592 M | 453 M | 502 M | 393 M | 2.74 B | 332 M | 545 M | 377 M | 403 M | 301 M | 427 M | 398 M | 497 M | 506 M | 315 M | 594 M | 374 M | 1.32 B |
Book Value |
12.2 B | 11.2 B | 10.8 B | 6.16 B | 6.4 B | 6.44 B | 5.64 B | 5.45 B | 5.89 B | 5.43 B | 5.61 B | 5.79 B | 6.18 B | 5.21 B | 4.99 B | 4.73 B | 4.96 B | - | - |
Total Shareholders Equity |
12.2 B | 11.2 B | 10.8 B | 6.15 B | 6.4 B | 6.44 B | 5.64 B | 5.45 B | 5.88 B | 5.43 B | 5.61 B | 5.79 B | 6.18 B | 5.21 B | 4.98 B | 4.72 B | 4.93 B | 4.3 B | 2.21 B |
Annual performance
Select metrics to display
All numbers in USD currency
Quarterly Balance Sheet Nasdaq
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
8.49 B | 8.53 B | 8.57 B | 8.67 B | 8.68 B | 8.93 B | 9.08 B | 9.36 B | 9.25 B | 9.76 B | 10.2 B | 9.7 B | 9.79 B | 4.76 B | 4.74 B | 4.57 B | - | 4.8 B | 4.81 B | 5.45 B | 5.48 B | 5.46 B | 5.54 B | 5.54 B | 5.54 B | 5.54 B | 3 B | 3 B | 3 B | 3 B | 2.96 B | 2.96 B | 2.96 B | 2.96 B | 3.73 B | 3.73 B | 3.73 B | 3.73 B | 3.6 B | 3.69 B | 3.73 B | 2.56 B | 2.36 B | 2.36 B | 2.36 B | 2.36 B | 2.3 B | 2.3 B | 2.3 B | 2.31 B | 2.59 B | 2.59 B | 2.59 B | 2.59 B | 1.84 B | 1.84 B | 1.84 B | 1.84 B | 2.07 B | 2.07 B | 2.07 B | 2.07 B | 1.85 B | 1.91 B |
Total Liabilities |
15.3 B | 15.3 B | 18.8 B | 18.6 B | 18.6 B | 19.1 B | 19.2 B | 19.5 B | 19.3 B | 19.4 B | 21.5 B | 17.9 B | 19.4 B | 14.6 B | 14.7 B | 17.1 B | - | 14.8 B | 13.7 B | 12 B | 11.3 B | 12.2 B | 11.5 B | 11.5 B | 11.5 B | 11.5 B | 8.28 B | 8.28 B | 8.28 B | 8.28 B | 10.3 B | 10.3 B | 10.3 B | 10.3 B | 9.47 B | 9.47 B | 9.47 B | 9.85 B | 8.72 B | 8.72 B | 8.72 B | 8.72 B | 6.25 B | 6.25 B | 6.25 B | 6.25 B | 6.28 B | 6.28 B | 6.28 B | 6.29 B | 6.39 B | 6.39 B | 6.39 B | 6.39 B | 3.92 B | 3.92 B | 3.92 B | 3.92 B | 9.1 B | 9.1 B | 9.1 B | 9.1 B | 5.28 B | 5.22 B |
Deferred Revenue |
931 M | 1.09 B | 785 M | 719 M | 848 M | 981 M | 711 M | 663 M | 736 M | 866 M | 594 M | 451 M | 558 M | 664 M | 357 M | 415 M | - | 619 M | 329 M | 380 M | 451 M | 519 M | 235 M | 235 M | 235 M | 235 M | 211 M | 211 M | 211 M | 211 M | 194 M | 194 M | 194 M | 386 M | 161 M | 204 M | 265 M | 322 M | 162 M | 162 M | 162 M | 162 M | 127 M | 127 M | 127 M | 127 M | 177 M | 177 M | 177 M | 177 M | 151 M | 151 M | 151 M | 151 M | 139 M | 139 M | 139 M | 139 M | 124 M | 124 M | 124 M | 124 M | 156 M | 188 M |
Retained Earnings |
10.3 B | 9.95 B | 9.59 B | 9.22 B | 8.96 B | 8.66 B | 8.4 B | 8.18 B | 8.02 B | 7.93 B | 7.82 B | 7.76 B | 7.57 B | 7.41 B | 7.21 B | 7.06 B | - | 6.66 B | 6.46 B | 6.3 B | 6.1 B | 5.84 B | 5.63 B | 5.63 B | 5.63 B | 5.63 B | 5.03 B | 5.03 B | 5.03 B | 5.03 B | 4.56 B | 4.56 B | 4.56 B | 4.56 B | 3.96 B | 3.96 B | 3.96 B | 3.96 B | 3.48 B | 3.48 B | 3.48 B | 3.48 B | 3.57 B | 3.57 B | 3.57 B | 3.57 B | 3.29 B | 3.29 B | 3.29 B | 3.29 B | 2.98 B | 2.98 B | 2.98 B | 2.98 B | 2.68 B | 2.68 B | 2.68 B | 2.68 B | 2.39 B | 2.39 B | 2.39 B | 2.39 B | 1.87 B | 1.77 B |
Total Assets |
27.3 B | 27.3 B | 31.1 B | 30.7 B | 30.4 B | 30.6 B | 30.4 B | 30.6 B | 30.2 B | 30.3 B | 32.3 B | 24.4 B | 25.7 B | 20.8 B | 20.9 B | 22.9 B | - | 20.8 B | 20.1 B | 18.4 B | 18 B | 18.5 B | 18 B | 18 B | 18 B | 18 B | 13.9 B | 13.9 B | 13.9 B | 13.9 B | 15.7 B | 15.7 B | 15.7 B | 15.7 B | 15.4 B | 15.4 B | 15.4 B | 15.7 B | 13.4 B | 14.2 B | 14.2 B | 14.2 B | 11.9 B | 11.9 B | 11.9 B | 11.9 B | 12.1 B | 12.1 B | 12.1 B | 12.1 B | 12.6 B | 12.6 B | 12.6 B | 12.6 B | 9.13 B | 9.13 B | 9.13 B | 9.13 B | 14.1 B | 14.1 B | 14.1 B | 14.1 B | 10.4 B | 9.91 B |
Cash and Cash Equivalents |
520 M | 515 M | 604 M | 470 M | 732 M | 690 M | 592 M | 266 M | 416 M | 388 M | 453 M | 5.34 B | 5.35 B | 373 M | 502 M | 301 M | 454 M | 486 M | 393 M | 303 M | 390 M | 774 M | 2.74 B | 2.74 B | 2.74 B | 2.74 B | 332 M | 332 M | 332 M | 332 M | 545 M | 545 M | 545 M | 545 M | 377 M | 377 M | 377 M | 377 M | 403 M | 403 M | 403 M | 403 M | 301 M | 301 M | 301 M | 301 M | 427 M | 427 M | 427 M | 427 M | 398 M | 398 M | 398 M | 398 M | 497 M | 497 M | 497 M | 497 M | 506 M | 506 M | 506 M | 506 M | 336 M | 526 M |
Book Value |
12 B | 12 B | 12.2 B | 12 B | 11.8 B | 11.6 B | 11.2 B | 11.1 B | 10.9 B | 10.8 B | 10.8 B | 6.48 B | 6.25 B | 6.18 B | 6.16 B | 5.88 B | - | 6.02 B | 6.4 B | 6.36 B | 6.67 B | 6.33 B | 6.44 B | 6.44 B | 6.44 B | 6.44 B | 5.64 B | 5.64 B | 5.64 B | 5.64 B | 5.45 B | 5.45 B | 5.45 B | 5.45 B | 5.88 B | 5.88 B | 5.88 B | 5.88 B | 4.69 B | 5.43 B | 5.43 B | 5.43 B | 5.61 B | 5.61 B | 5.61 B | 5.61 B | 5.79 B | 5.79 B | 5.79 B | 5.79 B | 6.17 B | 6.18 B | 6.18 B | 6.18 B | 5.21 B | 5.21 B | 5.21 B | 5.21 B | 4.99 B | 4.99 B | 4.99 B | 4.99 B | 5.08 B | 4.69 B |
Total Shareholders Equity |
12 B | 12 B | 12.2 B | 12 B | 11.8 B | 11.6 B | 11.2 B | 11.1 B | 10.9 B | 10.8 B | 10.8 B | 6.48 B | 6.25 B | 6.18 B | 6.15 B | 5.88 B | 5.85 B | 6.02 B | 6.4 B | 6.36 B | 6.66 B | 6.33 B | 6.43 B | 6.43 B | 6.43 B | 6.43 B | 5.64 B | 5.64 B | 5.64 B | 5.64 B | 5.45 B | 5.45 B | 5.45 B | 5.45 B | 5.88 B | 5.88 B | 5.88 B | 5.88 B | 5.43 B | 5.43 B | 5.43 B | 5.43 B | 5.61 B | 5.61 B | 5.61 B | 5.61 B | 5.79 B | 5.79 B | 5.79 B | 5.79 B | 6.18 B | 6.18 B | 6.18 B | 6.18 B | 5.21 B | 5.21 B | 5.21 B | 5.21 B | 4.98 B | 4.98 B | 4.98 B | 4.98 B | 5.07 B | 4.68 B |
Quarterly performance
Select metrics to display
All numbers in USD currency
Balance Sheet is a fundamental financial report of Nasdaq, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Financial data
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
Московская Биржа
MOEX
|
- | - | - |  Russia |
 |
СПБ Биржа
SPBE
|
- | - | - | Russia |
 |
Value Line
VALU
|
$ 41.13 | -0.77 % | $ 387 M |  USA |
 |
FactSet Research Systems
FDS
|
$ 319.91 | 2.45 % | $ 11.7 B | USA |
 |
Moody's Corporation
MCO
|
$ 481.05 | 1.2 % | $ 86.2 B | USA |
 |
Morningstar
MORN
|
$ 213.79 | 0.96 % | $ 8.96 B | USA |
 |
MSCI
MSCI
|
$ 604.46 | 2.16 % | $ 46.2 B | USA |
 |
Cboe Global Markets
CBOE
|
$ 318.82 | 1.21 % | $ 33.4 B | USA |
 |
Voya Financial
VOYA
|
$ 96.34 | 0.76 % | $ 9.23 B | USA |
 |
Intercontinental Exchange
ICE
|
$ 157.69 | -0.55 % | $ 90.2 B | USA |
 |
Jefferies Financial Group
JEF
|
$ 45.03 | 0.02 % | $ 9.69 B | USA |
 |
Siebert Financial Corp.
SIEB
|
$ 1.9 | 0.53 % | $ 76.7 M | USA |
 |
B. Riley Financial
RILY
|
$ 4.35 | -2.25 % | $ 133 M | USA |
 |
S&P Global
SPGI
|
$ 443.16 | 1.11 % | $ 135 B | USA |
 |
CME Group
CME
|
$ 295.79 | 0.16 % | $ 106 B | USA |
 |
Cohen & Company
COHN
|
$ 9.5 | -1.14 % | $ 16.5 M | USA |