{"data":{"ticker":"NDAQ","slug":"nasdaq-inc","name":"Nasdaq Inc","exchange":"NASDAQ","sector":"Financial Services","headquarters":"New York, New York","ceo":"Adena T. Friedman","employees":9593,"website":"https://www.nasdaq.com","founded":"1971","layers":[{"slug":"ai-saas","name":"AI Applications"}],"exposure":{"score":12,"tier":"Peripheral","rationale":"Nasdaq earns exchange fees and sells financial software, with Verafin anti-fraud and AI market surveillance as growth products. AI strengthens its fintech segment, but listings, trading, and index revenue drive most of the value."},"quote":{"price":108.62,"change24hPct":2.25,"change7dPct":3.72,"change30dPct":20.25,"change1yPct":27.39,"high52w":108.62,"low52w":76.59,"marketCap":60716122112,"peRatio":29.68,"eps":3.66,"volume24h":349300196},"nextEarningsDate":"2027-01-28","summary":"Nasdaq Inc is both a stock exchange operator and a financial technology company. It earns revenue from listings, trading, and market data, plus a growing software business that sells market infrastructure and anti-crime technology to other financial institutions.","explainer":["Nasdaq Inc is both a stock exchange operator and a financial technology company. It earns revenue from listings, trading, and market data, plus a growing software business that sells market infrastructure and anti-crime technology to other financial institutions.","AI runs through the technology side. AI Market Surveillance watches for manipulation across more than 130 markets that use its systems, Verafin Fraud Detection and Anti-Financial Crime AI help banks catch fraud and money laundering, and Trade Matching ML sharpens the machinery of its markets.","Founded in 1971 and headquartered in New York, New York, Nasdaq trades on its own exchange and employs about 9,600 people under CEO Adena Friedman."],"buildoutRole":"Nasdaq sits in the AI Applications layer through its fintech products rather than its exchange. Verafin anti-fraud and AI market surveillance are genuine AI growth products sold to banks and market operators, strengthening the software side of the business. But listings, trading, and index revenue still drive most of the value, keeping buildout exposure minor. Supercycle gives it an AI Exposure Score of 12 out of 100.","faq":[{"q":"What does Nasdaq Inc do?","a":"Nasdaq operates its namesake exchange and sells financial technology, earning revenue from listings, trading, market data, and software including market surveillance and anti-financial-crime tools."},{"q":"How is Nasdaq exposed to AI?","a":"Through its fintech segment. Verafin fraud detection and AI market surveillance are growth products, but listings, trading, and index revenue drive most value. Supercycle scores it 12 out of 100."},{"q":"What are Nasdaq's main AI products?","a":"AI Market Surveillance used across more than 130 markets, Verafin Fraud Detection, Anti-Financial Crime AI for banks, and Trade Matching ML in its market systems."},{"q":"Where is Nasdaq headquartered and who leads it?","a":"Nasdaq is headquartered in New York, New York, was founded in 1971, and is led by CEO Adena Friedman. It employs about 9,600 people and trades on its own exchange."},{"q":"Is NDAQ a pure play AI stock?","a":"No. Nasdaq is an exchange and fintech company where AI strengthens the software segment. Its AI Exposure Score of 12 out of 100 reflects that minor role."}],"history1y":[{"date":"2026-09-22","close":94.5},{"date":"2026-09-23","close":95.44},{"date":"2026-09-24","close":94.55},{"date":"2026-09-25","close":93.55},{"date":"2026-09-28","close":92.62},{"date":"2026-09-29","close":91.85},{"date":"2026-09-30","close":92.01},{"date":"2026-10-01","close":91.67},{"date":"2026-10-02","close":90.33},{"date":"2026-10-05","close":92.19},{"date":"2026-10-06","close":92.27},{"date":"2026-10-07","close":91.93},{"date":"2026-10-08","close":92.37},{"date":"2026-10-09","close":93.65},{"date":"2026-10-12","close":94.29},{"date":"2026-10-13","close":93.48},{"date":"2026-10-14","close":91.96},{"date":"2026-10-15","close":93.5},{"date":"2026-10-16","close":93.97},{"date":"2026-10-19","close":93.2},{"date":"2026-10-20","close":94.8},{"date":"2026-10-21","close":96.12},{"date":"2026-10-22","close":103.3},{"date":"2026-10-23","close":102.56},{"date":"2026-10-26","close":104.72},{"date":"2026-10-27","close":104.36},{"date":"2026-10-28","close":105.55},{"date":"2026-10-29","close":105.6},{"date":"2026-10-30","close":106.23},{"date":"2026-11-02","close":108.62}],"incomeStatements":[{"ticker":"NDAQ","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","revenue":8262000000,"cost_of_revenue":4773000000,"gross_profit":3489000000,"operating_expense":0,"operating_income":2433000000,"net_income":1788000000,"earnings_per_share":3.09,"earnings_per_share_diluted":3.09,"research_and_development":0,"selling_general_and_administrative_expenses":424000000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"NDAQ","report_period":"2024-12-31","fiscal_period":"2024-FY","period":"annual","currency":"USD","revenue":7400000000,"cost_of_revenue":4411000000,"gross_profit":2989000000,"operating_expense":0,"operating_income":1949000000,"net_income":1117000000,"earnings_per_share":1.93,"earnings_per_share_diluted":1.93,"research_and_development":0,"selling_general_and_administrative_expenses":427000000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"NDAQ","report_period":"2023-12-31","fiscal_period":"2023-FY","period":"annual","currency":"USD","revenue":6064000000,"cost_of_revenue":3518000000,"gross_profit":2546000000,"operating_expense":0,"operating_income":1806000000,"net_income":1059000000,"earnings_per_share":2.08,"earnings_per_share_diluted":2.08,"research_and_development":0,"selling_general_and_administrative_expenses":417000000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"NDAQ","report_period":"2022-12-31","fiscal_period":"2022-FY","period":"annual","currency":"USD","revenue":6226000000,"cost_of_revenue":3887000000,"gross_profit":2339000000,"operating_expense":0,"operating_income":1661000000,"net_income":1125000000,"earnings_per_share":2.26,"earnings_per_share_diluted":2.26,"research_and_development":0,"selling_general_and_administrative_expenses":420000000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0}],"balanceSheets":[{"ticker":"NDAQ","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","total_assets":31053000000,"current_assets":8003000000,"cash_and_equivalents":604000000,"total_liabilities":18821000000,"current_liabilities":7961000000,"total_debt":9466000000,"shareholders_equity":12227000000,"retained_earnings":9588000000},{"ticker":"NDAQ","report_period":"2024-12-31","fiscal_period":"2024-FY","period":"annual","currency":"USD","total_assets":30395000000,"current_assets":7786000000,"cash_and_equivalents":592000000,"total_liabilities":19195000000,"current_liabilities":7902000000,"total_debt":9868000000,"shareholders_equity":11191000000,"retained_earnings":8401000000},{"ticker":"NDAQ","report_period":"2023-12-31","fiscal_period":"2023-FY","period":"annual","currency":"USD","total_assets":32294000000,"current_assets":9096000000,"cash_and_equivalents":453000000,"total_liabilities":21467000000,"current_liabilities":9025000000,"total_debt":10871000000,"shareholders_equity":10816000000,"retained_earnings":7825000000},{"ticker":"NDAQ","report_period":"2022-12-31","fiscal_period":"2022-FY","period":"annual","currency":"USD","total_assets":20868000000,"current_assets":8604000000,"cash_and_equivalents":502000000,"total_liabilities":14704000000,"current_liabilities":8835000000,"total_debt":5851000000,"shareholders_equity":6151000000,"retained_earnings":7207000000}],"holders13f":[{"slug":"ray-dalio","personName":"Ray Dalio","fundName":"Bridgewater Associates","value":6364794,"portfolioPct":0.00026110811479794987,"change":"new","period":"2026-06-30"}],"news":[]},"meta":{"version":"v1","asOf":"2026-11-02","builtAt":"2026-11-03T05:33:49.842Z","tier":"free","source":"https://supercyclehq.com/stock/nasdaq-inc","disclaimer":"Informational only, not investment advice. The AI Exposure Score is Supercycle's editorial opinion. Agent portfolios are simulated paper portfolios run by AI.","license":"Free to use and quote with attribution to supercyclehq.com. Do not redistribute as a dataset."},"links":{"self":"https://supercyclehq.com/api/v1/stocks/NDAQ","html":"https://supercyclehq.com/stock/nasdaq-inc","md":"https://supercyclehq.com/stock/nasdaq-inc.md","docs":"https://supercyclehq.com/api/v1/openapi.json"}}