Overview
Nasdaq, Inc. Financial Statements FY2024-FY2026Q3
Nasdaq's income statement and balance sheet, FY2024 through FY2026Q3, as a public, auditable plain-text Beancount ledger — reconstructed line by line from the company's own Form 10-K and 10-Q filings and version-controlled in git. Part o… Ledger notes
Financial position
Net worth and the accounts that make it up
Money movement
Monthly income and spending by account category
Recent activity
Posting-aware activity from the journal
Income vs Expenses
Period data
| Period | Income | Expenses | Net Profit |
|---|---|---|---|
| 2024-12-31 | 7,465 MUSD | 6,348 MUSD | 1,117 MUSD |
| 2025-01-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-02-28 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-03-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-04-30 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-05-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-06-30 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-07-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-08-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-09-30 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-10-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-11-30 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2025-12-31 | 8,470 MUSD | 6,682 MUSD | 1,788 MUSD |
| 2026-01-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-02-28 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-03-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-04-30 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-05-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-06-30 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-07-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-08-31 | 0 MUSD | 0 MUSD | 0 MUSD |
| 2026-09-30 | 2,452 MUSD | 1,912 MUSD | 540 MUSD |
Balance Sheet
Breakdown
| Account | Amount | Share of total |
|---|---|---|
| Assets:NonCurrent:PropertyPlantEquipment | 767 MUSD | 2.8% |
| Assets:NonCurrent:Other | 1,250 MUSD | 4.56% |
| Assets:NonCurrent:OperatingLeaseRightOfUse | 481 MUSD | 1.76% |
| Assets:NonCurrent:IntangibleAssets | 6,106 MUSD | 22.3% |
| Assets:NonCurrent:Goodwill | 14,247 MUSD | 52.03% |
| Assets:Current:PerformanceBonds | 2,530 MUSD | 9.24% |
| Assets:Current:Other | 287 MUSD | 1.05% |
| Assets:Current:Cash | 365 MUSD | 1.33% |
| Assets:Current:AccountsReceivable | 1,171 MUSD | 4.28% |
| Other | 179 MUSD | 0.65% |
Breakdown
| Account | Amount | Share of total |
|---|---|---|
| Liabilities:NonCurrent:Other | 1,916 MUSD | 12.46% |
| Liabilities:NonCurrent:OperatingLeases | 476 MUSD | 3.09% |
| Liabilities:NonCurrent:LongTermDebt | 8,471 MUSD | 55.08% |
| Liabilities:Current:ShortTermDebt | 269 MUSD | 1.75% |
| Liabilities:Current:PerformanceBonds | 2,530 MUSD | 16.45% |
| Liabilities:Current:Other | 557 MUSD | 3.62% |
| Liabilities:Current:DeferredRevenue | 819 MUSD | 5.33% |
| Liabilities:Current:AccountsPayable | 252 MUSD | 1.64% |
| Other | 90 MUSD | 0.59% |
Cash Flow
Loading account roles…
Nasdaq, Inc. (NDAQ) Financial Statements in Beancount — Open Ledger
Nasdaq's income statement and balance sheet, FY2024 through FY2026Q3, as a public, auditable plain-text Beancount ledger — reconstructed line by line from the company's own Form 10-K and 10-Q filings and version-controlled in git. Part of the Open Ledger project on beancount.io.
Browse it live: beancount.io/ledger/open_ledger/nasdaq
Latest analysis: Nasdaq Q3 2026 Earnings: $540M Profit on Record $49B of Index Inflows
Key Figures
| Period | Period end | Revenue | Net income |
|---|---|---|---|
| FY2024 | 2024-12-31 | 7,400 | 1,117 |
| FY2025 | 2025-12-31 | 8,262 | 1,788 |
| FY2026Q3 | 2026-09-30 | 2,393 | 540 |
Amounts in MUSD (millions of US dollars), exactly as the ledger records them.
What's Inside
| Period | File | Source |
|---|---|---|
| FY2024 | FY2024/FY2024.bean | Form 10-K for the fiscal year ended December 31, 2024, filed |
| FY2025 | FY2025/FY2025.bean | Form 10-K for the fiscal year ended December 31, 2025, filed |
| FY2026Q3 | FY2026/FY2026Q3.bean | Form 10-Q for the quarterly period ended September 30, 2026 |
Fiscal years end December 31. All figures sourced from Nasdaq, Inc. Form 10-K and Form 10-Q filings (SEC EDGAR, CIK 0001120193). The clearinghouse pair — default funds and margin deposits, member collateral Nasdaq holds — sits on both sides of the balance sheet in equal amounts and is modeled gross, never netted; every period carries a small noncontrolling interest, deducted exactly as filed so net income is attributable to Nasdaq.
Quick Start
uvx --from beancount bean-check main.bean
uvx --from beanquery bean-query main.bean \
"SELECT year, sum(position) WHERE account ~ '^Income:Revenue' GROUP BY year ORDER BY year"Zero output from bean-check means the ledger is internally consistent: every
income statement sums to zero and every balance-sheet snapshot reconciles to
the filed totals. The query prints revenue by calendar year; income is a
credit, so it shows as a negative number. Open main.bean in Fava
or import it into beancount.io to explore it visually.
Methodology
- Balance sheet —
pad/balancedirectives assert each period-end
figure against the filing named in that period file's source banner. - Income statement — one zero-sum transaction per period:
Income
negative (credit),Expensespositive (debit), with the arithmetic check in
a comment directly above it. - Unit —
MUSD;2,393 MUSDmeans 2,393 million US dollars. - Exchange accounts —
Assets:Current:PerformanceBonds/
Liabilities:Current:PerformanceBondshold the default-funds-and-margin
pair gross on both sides;Liabilities:Current:Section31FeesPayableholds
the fees collected from members and owed to the SEC (nil at December 2025). - Pass-through revenue —
Income:Revenueis the filing's Total Revenues
andExpenses:CostOfRevenueholds transaction-based expenses (rebates plus
brokerage, clearance and exchange fees), so revenues less
transaction-based expenses — the denominator of every margin the release
quotes — is revenue less that line. - Operating detail —
Expenses:CompensationAndBenefitsholds the
filing's largest expense line;Expenses:OperatingExpensesaggregates the
eight smaller operating lines with one labeled posting each;
Expenses:DepreciationAndAmortizationholds the filing's single combined
line whole;Expenses:Interestholds interest expense. - Attribution —
Equity:NoncontrollingInterestscarries the
balance-sheet interest, and each income statement deducts the period's NCI
share exactly as filed, so the offset is net income attributable to Nasdaq. - Also opened —
Assets:Current:RestrictedCash,
Assets:NonCurrent:OperatingLeaseRightOfUseand
Liabilities:NonCurrent:OperatingLeasesfor their separate face captions
(the current lease liability folds intoLiabilities:Current:Otherper the
leases note).
Analysis
Corrections
Found a figure that does not match the filing? Email
[email protected] with the period, the account
and the filing page. Corrections are committed with the source cited.
About Open Ledger
Open Ledger is a growing library of public-company financial statements
published as plain-text accounting at
beancount.io/ledger — git-versioned, diffable
across companies, and auditable against primary filings. Read the analysis
behind the numbers on the beancount.io blog.
Disclaimer
This ledger is an independent reconstruction of Nasdaq, Inc.'s publicly filed
financial statements, provided for educational and informational purposes
only. It is not investment, financial, legal, tax, or accounting advice, and
is not an offer or recommendation to buy or sell any security. Beancount.io is
not affiliated with, endorsed by, or sponsored by Nasdaq, Inc.; all trademarks
belong to their respective owners. Figures may contain errors, omissions, or
simplifications and may lag the latest filings — the company's own regulatory
filings are the authoritative source. Provided "as is" without warranty of any
kind; use at your own risk.