What is the primary revenue source for Nasdaq, Inc. (NDAQ)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze NDAQ's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Nasdaq, Inc.'s total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Nasdaq, Inc. Makes Money: NDAQ Revenue Breakdown (2026)

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueTotal revenues · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueCost of product and service sold · CostOfGoodsAndServicesSold
Income tax expenseIncome tax provision · IncomeTaxExpenseBenefit
Largest revenue segment share (Market Services)Market Services · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?