Nasdaq, Inc. Cash Flow Statement

NDAQ / Financials|15 years of annual SEC 10-K data (FY2011-FY2025)

Covers operating cash flow, capital expenditures, free cash flow, share buybacks, and dividends paid across 15 fiscal years. All figures from audited SEC 10-K filings.

Nasdaq, Inc. generated $2.3B in operating cash flow and $2.0B in free cash flow in FY2025. Free cash flow margin was 24.1% of revenue.

Based on SEC 10-K filings.

Key Data Points

High Piotroski F-Score: 8/9 (strong financial health signals)
Altman Z-Score 1.03 (distress zone, below 1.8 threshold)

Data sourced from SEC EDGAR filings. Not investment advice.

Item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
Net Income	$1.8B	$1.1B	$1.1B	$933.0M	$1.2B	$933.0M	$729.0M	$458.0M	$729.0M	$106.0M	$385.0M	$352.0M	$385.0M	$352.0M	$266.0M
Depreciation & Amortization	$145.0M	$125.0M	$117.0M	$99.0M	$108.0M	$99.0M	$96.0M	$101.0M	$96.0M	$88.0M	$59.0M	$52.0M	$59.0M	$52.0M	$47.0M
Operating Cash Flow	$2.3B	$1.9B	$1.7B	$1.3B	$1.1B	$1.3B	$909.0M	$1.0B	$909.0M	$776.0M	$574.0M	$588.0M	$574.0M	$594.0M	$582.0M
Capital Expenditures	$266.0M	$207.0M	$158.0M	$188.0M	$163.0M	$188.0M	$144.0M	$111.0M	$144.0M	$134.0M	$115.0M	$87.0M	$115.0M	$87.0M	$59.0M
Free Cash Flow	$2.0B	$1.7B	$1.5B	$1.1B	$920.0M	$1.1B	$765.0M	$917.0M	$765.0M	$642.0M	$459.0M	$501.0M	$459.0M	$507.0M	$523.0M
Share Buybacks	$616.0M	$145.0M	$269.0M	-	$468.0M	$222.0M	$203.0M	$394.0M	$203.0M	$100.0M	$10.0M	$275.0M	$10.0M	$275.0M	$797.0M
Dividends Paid	$601.0M	$541.0M	$441.0M	$320.0M	$350.0M	$320.0M	$243.0M	$280.0M	$243.0M	$200.0M	$87.0M	$65.0M	$87.0M	$65.0M	-
FCF Margin	24.1%	23.4%	25.4%	18.9%	15.6%	18.9%	19.4%	21.4%	19.4%	17.3%	14.3%	16.1%	14.3%	16.3%	15.3%

Other Financial Statements

Income Statement Balance Sheet All Financial Data

Scores & Analysis

Piotroski F-Score Altman Z-Score Financial Ratios

Nasdaq, Inc. Profile All Financial Data

Item

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

Net Income

$1.8B

$1.1B

$933.0M

$1.2B

$933.0M

$729.0M

$458.0M

$729.0M

$106.0M

$385.0M

$352.0M

$385.0M

$352.0M

$266.0M

Depreciation & Amortization

$145.0M

$125.0M

$117.0M

$99.0M

$108.0M

$99.0M

$96.0M

$101.0M

$96.0M

$88.0M

$59.0M

$52.0M

$59.0M

$52.0M

$47.0M

Operating Cash Flow

$2.3B

$1.9B

$1.7B

$1.3B

$1.1B

$1.3B

$909.0M

$1.0B

$909.0M

$776.0M

$574.0M

$588.0M

$574.0M

$594.0M

$582.0M

Capital Expenditures

$266.0M

$207.0M

$158.0M

$188.0M

$163.0M

$188.0M

$144.0M

$111.0M

$144.0M

$134.0M

$115.0M

$87.0M

$115.0M

$87.0M

$59.0M

Free Cash Flow

$2.0B

$1.7B

$1.5B

$1.1B

$920.0M

$1.1B

$765.0M

$917.0M

$765.0M

$642.0M

$459.0M

$501.0M

$459.0M

$507.0M

$523.0M

Share Buybacks

$616.0M

$145.0M

$269.0M

$468.0M

$222.0M

$203.0M

$394.0M

$203.0M

$100.0M

$10.0M

$275.0M

$10.0M

$275.0M

$797.0M

Dividends Paid

$601.0M

$541.0M

$441.0M

$320.0M

$350.0M

$320.0M

$243.0M

$280.0M

$243.0M

$200.0M

$87.0M

$65.0M

$87.0M

$65.0M

FCF Margin

24.1%

23.4%

25.4%

18.9%

15.6%

18.9%

19.4%

21.4%

19.4%

17.3%

14.3%

16.1%

14.3%

16.3%

15.3%