NDAQ

Nasdaq

NASDAQ, INC.

Financials, Financial Exchanges & Data

$94.59

close 7 Aug 2026

-2.42%

52-week change

$53.16B

market cap

$76.55

$101.79

52-week range

Expected price

$86.03 – $105.14

Current price

$94.59

Signal

Appears fairly valued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)27.58x

P/S (TTM)6.09x

P/B4.43x

EV/EBITDA (TTM)—

FCF yield (TTM)3.67%

PEG (TTM, GAAP)2.51

Context

P/E, own 5-year average30.38x

P/E, sector median16.04x*

Price at 5-year median P/E$96.38*

Indicated dividend yield1.31%

Forward — analyst consensus

Forward P/E (FY2026)22.86x*

Forward P/E (FY2027)20.25x

Forward PEG1.77*

Consensus EPS FY2026 (16 analysts)$4.14

EPS growth (FY2026→FY2027)12.90%

Revenue growth (FY2026)12.62%

Street view

Price target (mean)$110.07*

Target upside16.36%

Ratings (buy / hold / sell)14 / 2 / 1

FY2026 EPS revisions, 30d (up / down)14 / 0

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 30 Jun 2026, filed 23 Jul 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +13.33%10Y CAGR +12.85%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$94.59

Cash & equivalents$520.00M

Total debt$8.76B

Shares outstanding561.99M

Result

DCF price per share$135.76

Current price$94.59

Margin of safety+43.52%

PV of years 1–10$25.67B

PV of terminal value$58.86B

Equity value$76.29B

Market-implied growth+9.21%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$2.21B	$2.51B	$2.84B	$3.22B	$3.65B	$4.13B	$4.68B	$5.31B	$6.02B	$6.82B	$127.08B
PV	$2.05B	$2.15B	$2.25B	$2.37B	$2.48B	$2.60B	$2.73B	$2.87B	$3.01B	$3.16B	$58.86B

period to 30 Jun 2026, filed 23 Jul 2026, close 7 Aug 2026