Company Valuation: Nasdaq, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,118 30,140 33,545 44,435 55,461 53,125 - -
Change - -14.18% 11.3% 32.46% 24.81% -4.21% - -
Enterprise Value (EV) 1 40,526 35,015 43,338 53,108 63,623 61,297 60,592 59,769
Change - -13.6% 23.77% 22.54% 19.8% -3.66% -1.15% -1.36%
P/E 29.8x 27.1x 28x 40.1x 31.4x 26.5x 24x 20.9x
PBR 5.53x 4.91x 3.09x 3.97x 4.53x 4.41x 4x 3.57x
PEG - -7.08x -3.52x -5.56x 0.5x 1.7x 2.3x 1.5x
Capitalization / Revenue 10.3x 8.41x 8.61x 9.49x 10.6x 8.99x 8.3x 7.66x
EV / Revenue 11.8x 9.78x 11.1x 11.3x 12.1x 10.4x 9.47x 8.61x
EV / EBITDA 21.2x 17.8x 19.9x 20.1x 20.8x 17.3x 15.6x 14.2x
EV / EBIT 22.5x 18.8x 21x 21.1x 21.8x 18.2x 16.4x 14.7x
EV / FCF 44.1x 22.5x 28.2x 30.7x 32x 24.5x 22.7x 20x
FCF Yield 2.27% 4.44% 3.55% 3.26% 3.13% 4.08% 4.41% 5.01%
Dividend per Share 2 0.7033 0.78 0.86 0.94 1.05 1.202 1.345 1.522
Rate of return 1% 1.27% 1.48% 1.22% 1.08% 1.28% 1.43% 1.62%
EPS 2 2.35 2.26 2.08 1.93 3.09 3.56 3.932 4.499
Distribution rate 29.9% 34.5% 41.3% 48.7% 34% 33.8% 34.2% 33.8%
Net sales 1 3,420 3,582 3,895 4,683 5,249 5,911 6,398 6,939
EBITDA 1 1,912 1,966 2,182 2,646 3,063 3,545 3,878 4,220
EBIT 1 1,804 1,861 2,065 2,521 2,918 3,367 3,700 4,059
Net income 1 1,187 1,125 1,059 1,117 1,788 2,012 2,164 2,409
Net Debt 1 5,408 4,875 9,793 8,673 8,162 8,171 7,466 6,644
Reference price 2 70.00 61.35 58.14 77.31 97.13 94.22 94.22 94.22
Nbr of stocks (in thousands) 501,666 491,280 576,965 574,758 570,995 558,977 - -
Announcement Date 1/26/22 1/25/23 1/31/24 1/29/25 1/29/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.69x10.37x17.29x1.26% 53.13B
21.93x9.66x14.37x1.35% 88.57B
25.05x15.12x18.65x3.49% 64.8B
22.29x8.37x13.96x1.69% 58.73B
28.08x5.21x10.38x1.91% 57.06B
31.57x14.86x22.88x2.02% 21.04B
21.72x8.48x13.42x2.31% 19.01B
13.64x7.78x11.1x6.41% 17.34B
23.47x8.5x14.73x1.87% 10.57B
19.82x-4.66x-7.98x1.6% 7.65B
Average 23.43x 8.37x 12.88x 2.39% 39.79B
Weighted average by Cap. 24.15x 9.65x 14.67x 2.14%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. NDAQ Stock
  4. Valuation Nasdaq, Inc.
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