Nasdaq, Inc. (NDAQ) EBITDA Margin: 38.05%
Is Nasdaq, Inc.’s EBITDA margin high or low?
Nasdaq, Inc.'s EBITDA margin of 38.05% is 18% above its 5-year average of 32.25%, near the high end of its 5-year range (26.79%–38.05%).
As of Wednesday, June 17, 2026. 6.75% above its 12-month average of 35.64%.
NDAQ EBITDA Margin Chart
NDAQ Average EBITDA Margin Chart
NDAQ Current vs Average EBITDA Margin Chart
NDAQ EBITDA Margin Metrics
EBITDA MARGIN
38.05%
EBITDA MARGIN AVG TTM
35.64%
EBITDA MARGIN AVG 3Y
33.49%
EBITDA MARGIN AVG 5Y
32.25%
EBITDA MARGIN AVG 10Y
29.57%
EBITDA MARGIN AVG 15Y
27.82%
EBITDA MARGIN AVG 20Y
25.54%
CURRENT VS TTM AVG
+6.75%
CURRENT VS 3Y AVG
+13.61%
CURRENT VS 5Y AVG
+17.98%
CURRENT VS 10Y AVG
+28.68%
CURRENT VS 15Y AVG
+36.77%
CURRENT VS 20Y AVG
+48.97%
NDAQ Competitors' EBITDA Margin
| NAME | MARKET CAP | EBITDA MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Nasdaq, Inc. (NDAQ) | $47.10B | 38.05% | 35.64% | 33.49% | 32.25% |
| State Street Corporation (STT)vs › | $47.79B | 18.94% | 18.57% | 21.84% | 27.20% |
| State Street SPDR Dow Jones Industrial Average ETF Trust (DIA)vs › | $45.08B | N/A | N/A | N/A | N/A |
| Coinbase Global, Inc. (COIN)vs › | $44.45B | 25.01% | 36.51% | -2.66% | 10.60% |
| Ares Management Corporation (ARES)vs › | $44.30B | 35.49% | 48.79% | 52.02% | 47.42% |
| MSCI Inc. (MSCI)vs › | $44.27B | 61.64% | 61.42% | 62.76% | 60.61% |
| Discover Financial Services (DFS)vs › | $50.34B | 31.84% | 32.16% | 43.56% | 35.25% |
| Ameriprise Financial, Inc. (AMP)vs › | $42.39B | 26.66% | 26.66% | 26.69% | 25.42% |
| American International Group, Inc. (AIG)vs › | $39.88B | 28.87% | 28.98% | 27.82% | 23.49% |
| PayPal Holdings, Inc. (PYPL)vs › | $38.93B | 23.20% | 22.20% | 21.37% | 22.94% |
Margin Comparison
Gross Margin
54.8%
EBITDA Margin
38.0%
Operating Margin
29.5%
Net Margin
23.1%
Formula: EBITDA Margin = (EBITDA / Revenue) × 100
Why EBITDA Margin matters:
- Removes effects of depreciation policies (D&A)
- Capital structure neutral (ignores interest)
- Tax neutral (ignores tax differences)
- Good proxy for operating cash generation
Nasdaq, Inc. EBITDA Margin Formula & Definition
EBITDA Margin = EBITDA / Revenue
EBITDA margin measures operating profitability before interest, taxes, depreciation, and amortization as a percentage of revenue.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Nasdaq, Inc. EBITDA Margin FAQ
- What is the EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The EBITDA margin for NDAQ stock is 38.05%.
- Is Nasdaq, Inc.'s EBITDA margin high or low?
- Nasdaq, Inc.'s EBITDA margin of 38.05% is 18% above its 5-year average of 32.25%, near the high end of its 5-year range (26.79%–38.05%).
- What is the TTM average EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The TTM average EBITDA margin for NDAQ stock is 35.64%.
- What is the 3Y average EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The 3Y average EBITDA margin for NDAQ stock is 33.49%.
- What is the 5Y average EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The 5Y average EBITDA margin for NDAQ stock is 32.25%.
- What is the 10Y average EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The 10Y average EBITDA margin for NDAQ stock is 29.57%.
- What is the 15Y average EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The 15Y average EBITDA margin for NDAQ stock is 27.82%.
- What is the 20Y average EBITDA margin for Nasdaq, Inc. (NDAQ)?
- The 20Y average EBITDA margin for NDAQ stock is 25.54%.
Nasdaq, Inc. EBITDA Margin History
| DATE | EBITDA MARGIN |
|---|---|
| 2025-12-31 | 38.05% |
| 2024-12-31 | 33.24% |
| 2023-12-31 | 32.92% |
| 2022-12-31 | 29.76% |
| 2021-12-31 | 32.74% |
| 2020-12-31 | 26.79% |
| 2019-12-31 | 31.09% |
| 2018-12-31 | 33.06% |
| 2017-12-31 | 30.27% |
| 2016-12-31 | 11.66% |
| 2015-12-31 | 25.68% |
| 2014-12-31 | 24.03% |
| 2013-12-31 | 25.63% |
| 2012-12-31 | 24.01% |
| 2011-12-31 | 23.30% |
| 2010-12-31 | 22.91% |
| 2009-12-31 | 17.50% |
| 2008-12-31 | 19.26% |
| 2007-12-31 | 16.60% |
| 2006-12-31 | 17.19% |
| 2005-12-31 | 20.68% |
| 2004-12-31 | 15.64% |
| 2003-12-31 | 5.54% |
| 2002-12-31 | 25.85% |
| 2001-12-31 | 18.83% |
| 2000-12-31 | 31.42% |
| 1999-12-31 | 21.21% |
| 1998-12-31 | 11.90% |
Related Metrics
About Nasdaq, Inc.
Nasdaq, Inc., a technology powerhouse founded in 1971 and based in New York City, is dedicated to supporting capital markets and various other sectors worldwide. Its Market Technology division specializes in fighting financial crime, offering products like Nasdaq Trade Surveillance, a SaaS solution that assists brokers and market participants in meeting compliance requirements and internal surveillance policies. This segment also provides Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool, and Verafin, a SaaS provider for anti-financial crime management. Furthermore, this division handles a wide array of assets, including cash equities, equity derivatives, global currencies, interest-bearing securities, commodities, energy resources, and digital currencies. The Investment Intelligence segment is responsible for distributing both historical and live market data, creating and licensing Nasdaq-branded financial indexes and products, and delivering valuable investment insights and workflow solutions. Through its Corporate Platforms, Nasdaq manages operational listing venues and furnishes specialized intelligence for investor relations, alongside comprehensive governance services. The Market Services segment covers a broad spectrum of operations, including the trading and clearing of equity derivatives, cash equities, fixed income, and commodities, in addition to providing trade management services. This division operates numerous exchanges and marketplace facilities that accommodate diverse asset classes such as derivatives, commodities, cash equity, debt, structured products, and exchange-traded products, while also offering crucial broker, clearing, settlement, and central depository functionalities. As of December 31, 2021, The Nasdaq Stock Market proudly listed 4,178 companies, specifically 1,632 on The Nasdaq Global Select Market, 1,169 on The Nasdaq Global Market, and 1,377 on The Nasdaq Capital Market. The company adopted its current name, Nasdaq, Inc., in September 2015, having previously been known as The NASDAQ OMX Group, Inc.
- Sector
- Financial Services
- Industry
- Financial - Data & Stock Exchanges
- CEO
- Adena T. Friedman