NASDAQ INC (NAQ.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:NAQ • US6311031081

71.92 EUR
-2.01 (-2.72%)
Last: Feb 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

NAQ gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 117 industry peers in the Capital Markets industry. While NAQ has a great profitability rating, there are some minor concerns on its financial health. NAQ has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • NAQ had positive earnings in the past year.
  • NAQ had a positive operating cash flow in the past year.
  • In the past 5 years NAQ has always been profitable.
  • Of the past 5 years NAQ 4 years had a positive operating cash flow.
NAQ.DE Yearly Net Income VS EBIT VS OCF VS FCFNAQ.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

1.2 Ratios

  • The Return On Assets of NAQ (5.30%) is better than 76.92% of its industry peers.
  • NAQ's Return On Equity of 13.52% is fine compared to the rest of the industry. NAQ outperforms 72.65% of its industry peers.
  • NAQ has a Return On Invested Capital of 8.11%. This is amongst the best in the industry. NAQ outperforms 80.34% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NAQ is in line with the industry average of 8.96%.
  • The last Return On Invested Capital (8.11%) for NAQ is above the 3 year average (7.14%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.3%
ROE 13.52%
ROIC 8.11%
ROA(3y)4.24%
ROA(5y)4.8%
ROE(3y)11.47%
ROE(5y)14.25%
ROIC(3y)7.14%
ROIC(5y)8.41%
NAQ.DE Yearly ROA, ROE, ROICNAQ.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • NAQ has a better Profit Margin (19.89%) than 64.96% of its industry peers.
  • In the last couple of years the Profit Margin of NAQ has grown nicely.
  • NAQ's Operating Margin of 28.43% is fine compared to the rest of the industry. NAQ outperforms 69.23% of its industry peers.
  • NAQ's Operating Margin has improved in the last couple of years.
  • The Gross Margin of NAQ (62.26%) is better than 70.94% of its industry peers.
  • In the last couple of years the Gross Margin of NAQ has grown nicely.
Industry RankSector Rank
OM 28.43%
PM (TTM) 19.89%
GM 62.26%
OM growth 3Y3.2%
OM growth 5Y4.28%
PM growth 3Y6.39%
PM growth 5Y5.58%
GM growth 3Y3.55%
GM growth 5Y4.36%
NAQ.DE Yearly Profit, Operating, Gross MarginsNAQ.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • NAQ has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for NAQ has been increased compared to 5 years ago.
  • The debt/assets ratio for NAQ has been reduced compared to a year ago.
NAQ.DE Yearly Shares OutstandingNAQ.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
NAQ.DE Yearly Total Debt VS Total AssetsNAQ.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • NAQ has an Altman-Z score of 2.49. This is not the best score and indicates that NAQ is in the grey zone with still only limited risk for bankruptcy at the moment.
  • NAQ has a better Altman-Z score (2.49) than 76.07% of its industry peers.
  • NAQ has a debt to FCF ratio of 4.34. This is a neutral value as NAQ would need 4.34 years to pay back of all of its debts.
  • NAQ's Debt to FCF ratio of 4.34 is fine compared to the rest of the industry. NAQ outperforms 76.92% of its industry peers.
  • NAQ has a Debt/Equity ratio of 0.72. This is a neutral value indicating NAQ is somewhat dependend on debt financing.
  • NAQ has a Debt to Equity ratio of 0.72. This is comparable to the rest of the industry: NAQ outperforms 55.56% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 4.34
Altman-Z 2.49
ROIC/WACCN/A
WACCN/A
NAQ.DE Yearly LT Debt VS Equity VS FCFNAQ.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.3 Liquidity

  • NAQ has a Current Ratio of 0.99. This is a bad value and indicates that NAQ is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NAQ has a Current ratio (0.99) which is comparable to the rest of the industry.
  • NAQ has a Quick Ratio of 0.99. This is a bad value and indicates that NAQ is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NAQ has a better Quick ratio (0.99) than 60.68% of its industry peers.
Industry RankSector Rank
Current Ratio 0.99
Quick Ratio 0.99
NAQ.DE Yearly Current Assets VS Current LiabilitesNAQ.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • NAQ shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 23.40%, which is quite impressive.
  • The Earnings Per Share has been growing by 11.09% on average over the past years. This is quite good.
  • The Revenue has grown by 11.08% in the past year. This is quite good.
  • Measured over the past years, NAQ shows a small growth in Revenue. The Revenue has been growing by 7.87% on average per year.
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
Revenue 1Y (TTM)11.08%
Revenue growth 3Y9.69%
Revenue growth 5Y7.87%
Sales Q2Q%13.45%

3.2 Future

  • Based on estimates for the next years, NAQ will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.68% on average per year.
  • The Revenue is expected to grow by 6.60% on average over the next years.
EPS Next Y13.86%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
EPS Next 5Y11.68%
Revenue Next Year8.93%
Revenue Next 2Y8.53%
Revenue Next 3Y8.35%
Revenue Next 5Y6.6%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
NAQ.DE Yearly Revenue VS EstimatesNAQ.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B 8B
NAQ.DE Yearly EPS VS EstimatesNAQ.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4 5

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 24.38 indicates a rather expensive valuation of NAQ.
  • Compared to the rest of the industry, the Price/Earnings ratio of NAQ is on the same level as its industry peers.
  • The average S&P500 Price/Earnings ratio is at 27.93. NAQ is around the same levels.
  • A Price/Forward Earnings ratio of 21.41 indicates a rather expensive valuation of NAQ.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NAQ indicates a somewhat cheap valuation: NAQ is cheaper than 63.25% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.77. NAQ is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 24.38
Fwd PE 21.41
NAQ.DE Price Earnings VS Forward Price EarningsNAQ.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NAQ is valued a bit cheaper than the industry average as 69.23% of the companies are valued more expensively.
  • 76.92% of the companies in the same industry are more expensive than NAQ, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 23.09
EV/EBITDA 19.33
NAQ.DE Per share dataNAQ.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of NAQ may justify a higher PE ratio.
  • A more expensive valuation may be justified as NAQ's earnings are expected to grow with 13.50% in the coming years.
PEG (NY)1.76
PEG (5Y)2.2
EPS Next 2Y13.29%
EPS Next 3Y13.5%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • NAQ has a Yearly Dividend Yield of 1.26%. Purely for dividend investing, there may be better candidates out there.
  • NAQ's Dividend Yield is comparable with the industry average which is at 3.00.
  • Compared to the average S&P500 Dividend Yield of 1.81, NAQ is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.26%

5.2 History

  • On average, the dividend of NAQ grows each year by 8.85%, which is quite nice.
Dividend Growth(5Y)8.85%
Div Incr Years1
Div Non Decr Years1
NAQ.DE Yearly Dividends per shareNAQ.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • NAQ pays out 36.06% of its income as dividend. This is a sustainable payout ratio.
  • NAQ's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP36.06%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
NAQ.DE Yearly Income VS Free CF VS DividendNAQ.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
NAQ.DE Dividend Payout.NAQ.DE Dividend Payout, showing the Payout Ratio.NAQ.DE Dividend Payout.PayoutRetained Earnings

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NASDAQ INC

FRA:NAQ (2/6/2026, 7:00:00 PM)

71.92

-2.01 (-2.72%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-29
Earnings (Next)04-22
Inst Owners75.55%
Inst Owner ChangeN/A
Ins Owners0.54%
Ins Owner ChangeN/A
Market Cap41.07B
Revenue(TTM)8.22B
Net Income(TTM)1.63B
Analysts82.61
Price Target96.33 (33.94%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.26%
Yearly Dividend0.8
Dividend Growth(5Y)8.85%
DP36.06%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.1%
Min EPS beat(2)1.81%
Max EPS beat(2)2.38%
EPS beat(4)3
Avg EPS beat(4)1%
Min EPS beat(4)-0.6%
Max EPS beat(4)2.38%
EPS beat(8)5
Avg EPS beat(8)0.99%
EPS beat(12)8
Avg EPS beat(12)1.15%
EPS beat(16)11
Avg EPS beat(16)1.77%
Revenue beat(2)1
Avg Revenue beat(2)-0.11%
Min Revenue beat(2)-0.53%
Max Revenue beat(2)0.31%
Revenue beat(4)1
Avg Revenue beat(4)-0.91%
Min Revenue beat(4)-1.92%
Max Revenue beat(4)0.31%
Revenue beat(8)3
Avg Revenue beat(8)-0.81%
Revenue beat(12)5
Avg Revenue beat(12)10.61%
Revenue beat(16)9
Avg Revenue beat(16)25.44%
PT rev (1m)3.18%
PT rev (3m)4.11%
EPS NQ rev (1m)-0.09%
EPS NQ rev (3m)1.14%
EPS NY rev (1m)1.59%
EPS NY rev (3m)2.54%
Revenue NQ rev (1m)0.36%
Revenue NQ rev (3m)0.8%
Revenue NY rev (1m)1.04%
Revenue NY rev (3m)1.65%
Valuation
Industry RankSector Rank
PE 24.38
Fwd PE 21.41
P/S 5.93
P/FCF 23.09
P/OCF 20.74
P/B 4.03
P/tB N/A
EV/EBITDA 19.33
EPS(TTM)2.95
EY4.1%
EPS(NY)3.36
Fwd EY4.67%
FCF(TTM)3.12
FCFY4.33%
OCF(TTM)3.47
OCFY4.82%
SpS12.13
BVpS17.85
TBVpS-13.26
PEG (NY)1.76
PEG (5Y)2.2
Graham Number34.42
Profitability
Industry RankSector Rank
ROA 5.3%
ROE 13.52%
ROCE 10.12%
ROIC 8.11%
ROICexc 8.3%
ROICexgc 126.57%
OM 28.43%
PM (TTM) 19.89%
GM 62.26%
FCFM 25.69%
ROA(3y)4.24%
ROA(5y)4.8%
ROE(3y)11.47%
ROE(5y)14.25%
ROIC(3y)7.14%
ROIC(5y)8.41%
ROICexc(3y)7.35%
ROICexc(5y)8.76%
ROICexgc(3y)118.06%
ROICexgc(5y)122.25%
ROCE(3y)8.99%
ROCE(5y)10.78%
ROICexgc growth 3Y7.04%
ROICexgc growth 5Y2.88%
ROICexc growth 3Y-8.1%
ROICexc growth 5Y-4.1%
OM growth 3Y3.2%
OM growth 5Y4.28%
PM growth 3Y6.39%
PM growth 5Y5.58%
GM growth 3Y3.55%
GM growth 5Y4.36%
F-Score8
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 4.34
Debt/EBITDA 2.94
Cap/Depr 37.98%
Cap/Sales 2.9%
Interest Coverage 6.23
Cash Conversion 79.26%
Profit Quality 129.11%
Current Ratio 0.99
Quick Ratio 0.99
Altman-Z 2.49
F-Score8
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
EPS Next Y13.86%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
EPS Next 5Y11.68%
Revenue 1Y (TTM)11.08%
Revenue growth 3Y9.69%
Revenue growth 5Y7.87%
Sales Q2Q%13.45%
Revenue Next Year8.93%
Revenue Next 2Y8.53%
Revenue Next 3Y8.35%
Revenue Next 5Y6.6%
EBIT growth 1Y22.92%
EBIT growth 3Y13.21%
EBIT growth 5Y12.49%
EBIT Next Year16.03%
EBIT Next 3Y7.86%
EBIT Next 5Y7.79%
FCF growth 1Y43.5%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y41.43%
OCF growth 3YN/A
OCF growth 5YN/A

NASDAQ INC / NAQ.DE FAQ

What is the ChartMill fundamental rating of NASDAQ INC (NAQ.DE) stock?

ChartMill assigns a fundamental rating of 5 / 10 to NAQ.DE.


What is the valuation status for NAQ stock?

ChartMill assigns a valuation rating of 4 / 10 to NASDAQ INC (NAQ.DE). This can be considered as Fairly Valued.


What is the profitability of NAQ stock?

NASDAQ INC (NAQ.DE) has a profitability rating of 7 / 10.


What is the financial health of NASDAQ INC (NAQ.DE) stock?

The financial health rating of NASDAQ INC (NAQ.DE) is 4 / 10.


Is the dividend of NASDAQ INC sustainable?

The dividend rating of NASDAQ INC (NAQ.DE) is 5 / 10 and the dividend payout ratio is 36.06%.