NDAQ

Nasdaq, Inc.

Financial ServicesFinancial Data & Stock ExchangesNASDAQ

$83.56

-$1.84 (-2.20%)today

Conviction

0/ 10

Fair Value$109.57

Upside+31.13%

Signal0

Market Cap$47.7B

52W Range$64.84–$101.79

Next EarningsApr 23

Price History

FAIR VALUE ANALYSISMonte Carlo · 5,000 runs · 99% valid

Fair Value$62.22

Current Price$86.36

Upside / Down-28.0%

P(Undervalued)4.4%

P(20%+ Up)0.0%

P(15%+ Down)80.6%

Fair Value Distribution — percentile bands

4.4% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

15.7%/yr

±4.3% · revenue growth to justify current price

FCF-Based Reverse DCF

17.3%/yr

±3.1% · FCF growth to justify current price

THE GAP

Market pricing margin compression or rising capex

KEY VALUE DRIVERS

Spearman correlation — what moves this valuation most

Quick Take

Nasdaq, Inc.

Trailing P/E27.0x

Forward P/E19.0x

P/S9.1x

EPS (TTM)$3.09

Analyst Target$109.57

Analyst Upside31.1%

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Bull Case

No analysis yet

Bear Case

No analysis yet

Research Feed

sec_10kMar 2

Conviction: unchanged

NDAQ 2025 10-K: Strong listings momentum, AI/cloud transformation, macro risks priced in

Nasdaq 2025 10-K shows strong listing momentum, robust fintech growth, but faces SEC regulatory headwinds on trading rebates (Nov 2026) and execution risk on cloud transformation. Valuation pricing in...