0001628280-26-007703
SEC filingNasdaq, Inc. reported strong financial results for fiscal year 2025, with total revenues of $8.26 billion and net income attributable to Nasdaq of $1.79 billion. The company generated operating income of $2.33 billion, representing a 28.2% operating margin. Key profitability drivers included revenues less transaction-based expenses of $5.25 billion and effective cost management with total operating expenses of $2.92 billion. The company maintained solid cash generation with $2.25 billion in operating cash flow and returned significant capital to shareholders through $616 million in stock repurchases and $601 million in dividends paid. Nasdaq's balance sheet remained strong with total assets of $31.05 billion and total equity of $12.23 billion, though the company carried substantial long-term debt of $8.57 billion. The company's earnings per share were $3.00 for both basic and diluted calculations.
Nasdaq, Inc. delivered robust financial performance for fiscal year 2025, achieving total revenues of $8.26 billion. The company generated substantial profitability with operating income of $2.33 billion and net income attributable to Nasdaq of $1.79 billion. Key financial metrics demonstrate strong operational efficiency, with revenues less transaction-based expenses reaching $5.25 billion. The company maintained effective cost control with total operating expenses of $2.92 billion, including $1.39 billion in compensation and benefits and $632 million in depreciation and amortization. Earnings per share were $3.00 for both basic and diluted calculations, reflecting the company's profitability on a per-share basis.
The company reported total revenues of $8.26 billion for fiscal year 2025. Transaction-based expenses totaled $3.01 billion, resulting in revenues less transaction-based expenses of $5.25 billion. The document does not provide segment-level revenue breakdowns, geographic mix, or specific growth drivers beyond the aggregate figures presented in the financial statements. All revenue-related figures are derived from the consolidated financial statements without further disaggregation by business segment, product line, or geographic region.
Nasdaq demonstrated strong profitability metrics with an operating margin of 28.2% based on operating income of $2.33 billion relative to total revenues of $8.26 billion. The company's cost structure included significant expenses in compensation and benefits ($1.39 billion), depreciation and amortization ($632 million), and technology and communication infrastructure ($316 million). Other operating expenses included professional and contract services ($160 million), occupancy ($124 million), general, administrative and other ($75 million), marketing and advertising ($65 million), regulatory ($52 million), merger and strategic initiatives ($60 million), and restructuring charges ($42 million).
The company generated strong operating cash flow of $2.25 billion for fiscal year 2025. Investing activities used $1.10 billion in cash, primarily for investments related to default funds and margin deposits ($1.08 billion) and purchases of property and equipment ($266 million). Financing activities used $2.95 billion in cash, including debt repayments ($826 million), stock repurchases ($616 million), and dividends paid ($601 million). The balance sheet shows total assets of $31.05 billion, including $14.37 billion in goodwill and $6.51 billion in intangible assets. Total liabilities were $18.82 billion, with $8.57 billion in long-term debt. The company maintained $604 million in cash and cash equivalents with total equity of $12.23 billion.
The provided document content does not include management guidance, strategic priorities, or specific risk factors beyond the financial statement data. The filing presents historical financial results for fiscal year 2025 without forward-looking statements, projections, or qualitative discussions about future performance expectations. All analysis is based solely on the reported financial figures for the completed fiscal period ending December 31, 2025.