Nasdaq Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.26B | $7.40B | $6.06B | $6.23B | $5.89B | $5.63B | $4.26B | $4.28B |
| Market Services | — | — | — | — | — | — | — | — |
| Listing Services | — | — | — | — | — | — | — | — |
| Information Services | — | — | — | — | — | — | — | — |
| Technology Services | — | — | — | — | — | — | — | — |
| Investment Intelligence | — | — | — | — | — | — | — | — |
| Cost of Revenue | $3.01B | $2.75B | $2.17B | $2.64B | $2.47B | $2.72B | $1.72B | $1.75B |
| Gross Profit | $5.25B | $4.65B | $3.90B | $3.58B | $3.42B | $2.90B | $2.54B | $2.53B |
| Gross Margin | 63.5% | 62.8% | 64.2% | 57.5% | 58.1% | 51.6% | 59.5% | 59.1% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $75.0M | $109.0M | $113.0M | $125.0M | $85.0M | $142.0M | $125.0M | $120.0M |
| Operating Income | $2.33B | $1.80B | $1.58B | $1.56B | $1.44B | $1.23B | $1.02B | $1.03B |
| Operating Margin | 28.2% | 24.3% | 26.0% | 25.1% | 24.5% | 21.9% | 23.9% | 24.0% |
| Interest Expense | — | — | $284.0M | $129.0M | $125.0M | $101.0M | $124.0M | $150.0M |
| Pretax Income | $2.15B | $1.45B | $1.40B | $1.48B | $1.53B | $1.21B | $1.02B | $1.06B |
| Income Tax Expense | $358.0M | $334.0M | $344.0M | $352.0M | $347.0M | $279.0M | $245.0M | $606.0M |
| Net Income | $1.79B | $1.12B | $1.06B | $1.13B | $1.19B | $933.0M | $774.0M | $458.0M |
| Net Margin | 21.6% | 15.1% | 17.5% | 18.1% | 20.2% | 16.6% | 18.2% | 10.7% |
| EPS (Basic) | $3.12 | $1.94 | $2.10 | $2.28 | $2.38 | $1.89 | $1.56 | $0.92 |
| EPS (Diluted) | $3.09 | $1.93 | $2.08 | $2.26 | $2.35 | $1.86 | $1.54 | $0.91 |
| Shares Outstanding (Basic) | 573.3M | 575.4M | 504.9M | 492.4M | 497.7M | 493.2M | 494.8M | 496.0M |
| Shares Outstanding (Diluted) | 578.6M | 579.2M | 508.4M | 497.9M | 505.1M | 500.7M | 500.9M | 503.1M |
| Dividends Per Share | $1.05 | $0.94 | $0.86 | $0.78 | $0.70 | $0.65 | $0.62 | $0.57 |