← NASDAQ, INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $3.7b $4.0b $4.3b $4.3b $5.6b $5.9b $6.2b $6.1b $7.4b $8.3b
Cost of Revenue $1.4b $1.5b $1.8b $1.7b $2.7b $2.5b $2.6b $2.2b $2.8b $3.0b
Gross Profit $2.3b $2.4b $2.5b $2.5b $2.9b $3.4b $3.6b $3.9b $4.6b $5.2b
Operating Expenses $1.4b $1.4b $1.5b $1.5b $1.7b $2.0b $2.0b $2.3b $2.9b $2.9b
Operating Income (Loss) $839.0m $999.0m $1.0b $1.0b $1.2b $1.4b $1.6b $1.6b $1.8b $2.3b
Additional Financial Items
Amortization of Intangible Assets $82.0m $92.0m $109.0m $101.0m $103.0m $170.0m $153.0m $206.0m $488.0m $487.0m
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Goodwill, Impairment Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Income (Loss) from Continuing Operations before Income Taxes, Domestic ($155.0m) $556.0m $636.0m $691.0m $898.0m $1.3b $1.2b $1.1b $1.1b $1.7b
Income (Loss) from Equity Method Investments $2.0m $15.0m $18.0m $84.0m $70.0m $52.0m $31.0m ($7.0m) $16.0m $83.0m
Investment Income, Interest $5.0m $7.0m $10.0m $10.0m $4.0m $1.0m $7.0m $115.0m $28.0m $39.0m
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $136.0m $880.0m $1.1b $1.0b $1.2b $1.5b $1.5b $1.4b $1.4b $2.1b
Net Income (Loss) Attributable to Parent $108.0m $734.0m $458.0m $774.0m $933.0m $1.2b $1.1b $1.1b $1.1b $1.8b
Net Income (Loss) Attributable to Noncontrolling Interest $0 $0 — — — — ($2.0m) ($2.0m) ($2.0m) ($1.0m)
Earnings Per Share, Basic $0.22 $1.47 $0.92 $1.56 $1.89 $2.38 $2.28 $2.10 $1.94 $3.12
Earnings Per Share, Diluted $0.21 $1.44 $0.91 $1.54 $1.86 $2.35 $2.26 $2.08 $1.93 $3.09
Common Stock, Dividends, Per Share, Declared $0.40 $0.49 $0.57 $0.62 $0.65 $0.70 $0.78 $0.86 $0.94 $1.05
Weighted Average Number of Shares Outstanding, Basic 495.5m 499.1m 496.0m 494.8m 493.2m 497.7m 492.4m 504.9m 575.4m 573.3m
Weighted Average Number of Shares Outstanding, Diluted 506.4m 508.8m 503.1m 500.9m 500.7m 505.1m 497.9m 508.4m 579.2m 578.6m
Labor and Related Expense $664.0m $675.0m $712.0m $707.0m $786.0m $938.0m $1.0b $1.1b $1.3b $1.4b
General and Administrative Expense $72.0m $82.0m $120.0m $125.0m $142.0m $85.0m $125.0m $113.0m $109.0m $75.0m
Other Nonoperating Income (Expense) — — — — — — $2.0m ($1.0m) $21.0m ($27.0m)
Interest Expense (non-operating) — — — — — — — — $414.0m $367.0m
Business Combination, Acquisition Related Costs $76.0m $44.0m $21.0m $30.0m $33.0m $87.0m $82.0m $148.0m $35.0m $60.0m
Costs and Expenses — — — — — — — — $1.8b $1.9b
Current Income Tax Expense (Benefit) $164.0m $136.0m $305.0m $210.0m $238.0m $253.0m $314.0m $276.0m $401.0m $310.0m
Interest Expense $135.0m $143.0m $150.0m $124.0m $101.0m $125.0m $129.0m $284.0m — —
Marketing and Advertising Expense $30.0m $31.0m $37.0m $39.0m $39.0m $57.0m $51.0m $47.0m $54.0m $65.0m
Other Expenses — — — — — — — — $1.0b $1.0b
Restructuring Costs — $0 — — — — — — — —
Income Tax Expense (Benefit) $28.0m $146.0m $606.0m $245.0m $279.0m $347.0m $352.0m $344.0m $334.0m $358.0m
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — — — — — ($9.0m) — —

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.