Nasdaq, Inc. · Q3 2025
ReportedOct 21, 2025
Period endedSep 30, 2025
Rule of 40+26
The quarter in short
Revenue $1.31B, up 14.7% year over year and 0.7% on the quarter. EPS $0.73, up 37.7% year over year and down 6.4% on the quarter. Free cash flow $152M, down 19.1% year over year and 77.9% on the quarter. Rule of 40 score +26.
Reported this quarter
Revenue
$1.31B
QoQ +0.7%
YoY +14.7%
EPS
$0.73
QoQ −6.4%
YoY +37.7%
Free Cash Flow
$152M
QoQ −77.9%
YoY −19.1%
Gross Margin
67.2%
QoQ +5.0 pp
YoY +6.9 pp
FCF Margin
11.6%
QoQ −41.0 pp
YoY −4.8 pp
P/E Ratio
31.3
QoQ −7.9%
YoY −27.7%
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Sources & downloads
Company
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Earnings press release
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SEC filings
Filed with the SEC under CIK 1120193.
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8-K results announcement
Filed Oct 21, 2025
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Press release (EX-99.1)
Exhibit 99.1 to the 8-K
377 KB
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Exhibit EX-99.2
Exhibit 99.2 to the 8-K
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10-Q quarterly report
Period ended Sep 30, 2025, filed Oct 23, 2025
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This quarter (JSON)
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