Company Valuation: Nasdaq, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 35,118 30,140 33,545 44,435 55,461 45,174 - -
Change - -14.18% 11.3% 32.46% 24.81% -18.55% - -
Enterprise Value (EV) 1 40,526 35,015 43,338 53,108 63,623 52,285 51,292 50,326
Change - -13.6% 23.77% 22.54% 19.8% -17.82% -1.9% -1.88%
P/E ratio 29.8x 27.1x 28x 40.1x 31.4x 25.3x 22.1x 19.3x
PBR 5.53x 4.91x 3.09x 3.97x - 3.51x 3.25x 2.93x
PEG - -7.08x -3.52x -5.56x 0.5x 14.61x 1.6x 1.3x
Capitalization / Revenue 10.3x 8.41x 8.61x 9.49x 10.6x 7.93x 7.33x 6.78x
EV / Revenue 11.8x 9.78x 11.1x 11.3x 12.1x 9.18x 8.32x 7.55x
EV / EBITDA 21.2x 17.8x 19.9x 20.1x 20.8x 15.6x 14x 12.6x
EV / EBIT 22.5x 18.8x 21x 21.1x 21.8x 16.3x 14.6x 12.9x
EV / FCF 44.1x 22.5x 28.2x 30.7x 32x 21.9x 20.4x 18.3x
FCF Yield 2.27% 4.44% 3.55% 3.26% 3.13% 4.57% 4.91% 5.46%
Dividend per Share 2 0.7033 0.78 0.86 0.94 1.05 1.19 1.358 1.487
Rate of return 1% 1.27% 1.48% 1.22% 1.08% 1.5% 1.71% 1.87%
EPS 2 2.35 2.26 2.08 1.93 3.09 3.144 3.588 4.108
Distribution rate 29.9% 34.5% 41.3% 48.7% 34% 37.9% 37.8% 36.2%
Net sales 1 3,420 3,582 3,895 4,683 5,249 5,695 6,165 6,667
EBITDA 1 1,912 1,966 2,182 2,646 3,063 3,358 3,675 3,989
EBIT 1 1,804 1,861 2,065 2,521 2,918 3,208 3,518 3,890
Net income 1 1,187 1,125 1,059 1,117 1,788 1,798 2,026 2,264
Net Debt 1 5,408 4,875 9,793 8,673 8,162 7,111 6,117 5,152
Reference price 2 70.00 61.35 58.14 77.31 97.13 79.47 79.47 79.47
Nbr of stocks (in thousands) 501,666 491,280 576,965 574,758 570,995 568,444 - -
Announcement Date 1/26/22 1/25/23 1/31/24 1/29/25 1/29/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.28x9.18x15.57x1.5% 45.17B
23.89x9.91x14.78x1.39% 86.48B
30.13x14.16x18.23x3.02% 66.11B
36x4.91x10.05x1.87% 52.27B
19.71x7.24x12.4x1.96% 46.75B
17.91x8.85x12.72x4.54% 17.11B
27.94x12.71x20.47x2.48% 15.25B
19.38x7.69x12.28x2.55% 14.86B
22.25x7.51x13.55x2.13% 9.25B
17.84x-2.87x-4.83x1.63% 7.91B
Average 24.03x 7.93x 12.52x 2.31% 36.12B
Weighted average by Cap. 25.95x 9.16x 14.10x 2.11%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Equities
  3. NDAQ Stock
  4. Valuation Nasdaq, Inc.