NASDAQ INC (NAQ.DE) Fundamental Analysis & Valuation

FRA:NAQ • US6311031081

76.45 EUR
+1.32 (+1.76%)
Last: Mar 4, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This NAQ.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

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 belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. NAQ is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. NAQ.DE Profitability Analysis

1.1 Basic Checks

  • NAQ had positive earnings in the past year.
  • In the past year NAQ had a positive cash flow from operations.
  • NAQ had positive earnings in each of the past 5 years.
  • Each year in the past 5 years NAQ 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

  • NAQ's Return On Assets of 5.76% is fine compared to the rest of the industry. NAQ outperforms 76.92% of its industry peers.
  • With a decent Return On Equity value of 14.62%, NAQ is doing good in the industry, outperforming 72.65% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 8.44%, NAQ belongs to the best of the industry, outperforming 80.34% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for NAQ is in line with the industry average of 8.89%.
  • The last Return On Invested Capital (8.44%) for NAQ is above the 3 year average (7.14%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.76%
ROE 14.62%
ROIC 8.44%
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 (21.64%) than 63.25% of its industry peers.
  • NAQ's Profit Margin has improved in the last couple of years.
  • NAQ has a better Operating Margin (29.42%) than 66.67% of its industry peers.
  • NAQ's Operating Margin has improved in the last couple of years.
  • The Gross Margin of NAQ (63.54%) is better than 69.23% of its industry peers.
  • In the last couple of years the Gross Margin of NAQ has grown nicely.
Industry RankSector Rank
OM 29.42%
PM (TTM) 21.64%
GM 63.54%
OM growth 3Y3.02%
OM growth 5Y4.17%
PM growth 3Y6.2%
PM growth 5Y5.47%
GM growth 3Y3.36%
GM growth 5Y4.25%
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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5

2. NAQ.DE Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, NAQ has less shares outstanding
  • NAQ has more shares outstanding than it did 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

  • An Altman-Z score of 2.55 indicates that NAQ is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • NAQ has a Altman-Z score of 2.55. This is in the better half of the industry: NAQ outperforms 75.21% of its industry peers.
  • The Debt to FCF ratio of NAQ is 4.53, which is a neutral value as it means it would take NAQ, 4.53 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of NAQ (4.53) is better than 78.63% of its industry peers.
  • NAQ has a Debt/Equity ratio of 0.70. This is a neutral value indicating NAQ is somewhat dependend on debt financing.
  • The Debt to Equity ratio of NAQ (0.70) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.7
Debt/FCF 4.53
Altman-Z 2.55
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 1.01. This is a normal value and indicates that NAQ is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.01, NAQ is in the better half of the industry, outperforming 62.39% of the companies in the same industry.
  • NAQ has a Quick Ratio of 1.01. This is a normal value and indicates that NAQ is financially healthy and should not expect problems in meeting its short term obligations.
  • NAQ's Quick ratio of 1.01 is fine compared to the rest of the industry. NAQ outperforms 63.25% of its industry peers.
Industry RankSector Rank
Current Ratio 1.01
Quick Ratio 1.01
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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5

3. NAQ.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 23.40% over the past year.
  • Measured over the past years, NAQ shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.09% on average per year.
  • Looking at the last year, NAQ shows a quite strong growth in Revenue. The Revenue has grown by 11.68% in the last year.
  • Measured over the past years, NAQ shows a small growth in Revenue. The Revenue has been growing by 7.98% on average per year.
EPS 1Y (TTM)23.4%
EPS 3Y9.28%
EPS 5Y11.09%
EPS Q2Q%26.32%
Revenue 1Y (TTM)11.68%
Revenue growth 3Y9.89%
Revenue growth 5Y7.98%
Sales Q2Q%13.45%

3.2 Future

  • The Earnings Per Share is expected to grow by 11.58% on average over the next years. This is quite good.
  • NAQ is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.71% yearly.
EPS Next Y13.86%
EPS Next 2Y13.29%
EPS Next 3Y13.5%
EPS Next 5Y11.58%
Revenue Next Year8.85%
Revenue Next 2Y8.46%
Revenue Next 3Y8.24%
Revenue Next 5Y6.71%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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 2030 2 4 6

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4

4. NAQ.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 25.48, the valuation of NAQ can be described as expensive.
  • NAQ's Price/Earnings ratio is in line with the industry average.
  • When comparing the Price/Earnings ratio of NAQ to the average of the S&P500 Index (27.03), we can say NAQ is valued inline with the index average.
  • NAQ is valuated rather expensively with a Price/Forward Earnings ratio of 22.39.
  • NAQ's Price/Forward Earnings ratio is in line with the industry average.
  • NAQ is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 25.11, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 25.48
Fwd PE 22.39
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

  • NAQ's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NAQ is cheaper than 73.50% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of NAQ indicates a somewhat cheap valuation: NAQ is cheaper than 76.92% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 25.47
EV/EBITDA 18.98
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 high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NAQ does not grow enough to justify the current Price/Earnings ratio.
  • NAQ has an outstanding profitability rating, which 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)1.84
PEG (5Y)2.3
EPS Next 2Y13.29%
EPS Next 3Y13.5%

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4

5. NAQ.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.22%, NAQ has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 3.08, NAQ has a dividend in line with its industry peers.
  • NAQ's Dividend Yield is slightly below the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.22%

5.2 History

  • The dividend of NAQ is nicely growing with an annual growth rate of 10.18%!
Dividend Growth(5Y)10.18%
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

  • 33.61% of the earnings are spent on dividend by NAQ. This is a low number and sustainable payout ratio.
  • The dividend of NAQ is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP33.61%
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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NAQ.DE Fundamentals: All Metrics, Ratios and Statistics

NASDAQ INC

FRA:NAQ (3/4/2026, 7:00:00 PM)

76.45

+1.32 (+1.76%)

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 Cap43.65B
Revenue(TTM)8.26B
Net Income(TTM)1.79B
Analysts82.61
Price Target98.47 (28.8%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.22%
Yearly Dividend0.89
Dividend Growth(5Y)10.18%
DP33.61%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.42%
Min EPS beat(2)1.81%
Max EPS beat(2)3.02%
EPS beat(4)4
Avg EPS beat(4)1.91%
Min EPS beat(4)0.42%
Max EPS beat(4)3.02%
EPS beat(8)6
Avg EPS beat(8)1.41%
EPS beat(12)9
Avg EPS beat(12)1.73%
EPS beat(16)11
Avg EPS beat(16)1.56%
Revenue beat(2)0
Avg Revenue beat(2)-0.26%
Min Revenue beat(2)-0.53%
Max Revenue beat(2)0%
Revenue beat(4)1
Avg Revenue beat(4)-0.43%
Min Revenue beat(4)-1.51%
Max Revenue beat(4)0.31%
Revenue beat(8)2
Avg Revenue beat(8)-1.09%
Revenue beat(12)4
Avg Revenue beat(12)4.74%
Revenue beat(16)8
Avg Revenue beat(16)21.31%
PT rev (1m)3.76%
PT rev (3m)6.54%
EPS NQ rev (1m)0.26%
EPS NQ rev (3m)2.39%
EPS NY rev (1m)0.76%
EPS NY rev (3m)2.54%
Revenue NQ rev (1m)0.72%
Revenue NQ rev (3m)2.12%
Revenue NY rev (1m)0.43%
Revenue NY rev (3m)1.58%
Valuation
Industry RankSector Rank
PE 25.48
Fwd PE 22.39
P/S 6.13
P/FCF 25.47
P/OCF 22.47
P/B 4.14
P/tB N/A
EV/EBITDA 18.98
EPS(TTM)3
EY3.92%
EPS(NY)3.41
Fwd EY4.47%
FCF(TTM)3
FCFY3.93%
OCF(TTM)3.4
OCFY4.45%
SpS12.47
BVpS18.45
TBVpS-13.06
PEG (NY)1.84
PEG (5Y)2.3
Graham Number35.29
Profitability
Industry RankSector Rank
ROA 5.76%
ROE 14.62%
ROCE 10.53%
ROIC 8.44%
ROICexc 8.67%
ROICexgc 123.45%
OM 29.42%
PM (TTM) 21.64%
GM 63.54%
FCFM 24.07%
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 3Y3.02%
OM growth 5Y4.17%
PM growth 3Y6.2%
PM growth 5Y5.47%
GM growth 3Y3.36%
GM growth 5Y4.25%
F-Score9
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.7
Debt/FCF 4.53
Debt/EBITDA 2.8
Cap/Depr 42.09%
Cap/Sales 3.22%
Interest Coverage 6.87
Cash Conversion 73.62%
Profit Quality 111.24%
Current Ratio 1.01
Quick Ratio 1.01
Altman-Z 2.55
F-Score9
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)41.59%
Cap/Depr(5y)48.46%
Cap/Sales(3y)2.87%
Cap/Sales(5y)2.77%
Profit Quality(3y)137.18%
Profit Quality(5y)125.43%
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 5Y11.58%
Revenue 1Y (TTM)11.68%
Revenue growth 3Y9.89%
Revenue growth 5Y7.98%
Sales Q2Q%13.45%
Revenue Next Year8.85%
Revenue Next 2Y8.46%
Revenue Next 3Y8.24%
Revenue Next 5Y6.71%
EBIT growth 1Y24.67%
EBIT growth 3Y13.21%
EBIT growth 5Y12.49%
EBIT Next Year16.1%
EBIT Next 3Y9.39%
EBIT Next 5Y9.21%
FCF growth 1Y14.84%
FCF growth 3Y8.57%
FCF growth 5Y13.33%
OCF growth 1Y16.3%
OCF growth 3Y9.75%
OCF growth 5Y12.49%

NASDAQ INC / NAQ.DE FAQ

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

ChartMill assigns a fundamental rating of 6 / 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 8 / 10.


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

The financial health rating of NASDAQ INC (NAQ.DE) is 5 / 10.


Is the dividend of NASDAQ INC sustainable?

The dividend rating of NASDAQ INC (NAQ.DE) is 4 / 10 and the dividend payout ratio is 33.61%.