NASDAQ, INC. (NDAQ)
Security & Commodity Brokers, Dealers, Exchanges & Services
Latest Price
$91.57
TTM P/E
26.70
Normalized P/E
31.84
Div Yield
1.22%
Book Value
21.20
P/B Ratio
4.32
Valuation metrics
adjust assumptions →EPS: $3.09
Book value / share: $21.45
Formula: √(22.5 × EPS × BVPS)
Graham Number
$38.62
58% downside
Norm. op. income: $1.6B (median of 7yr)
Tax rate: 23%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$6.89
92% downside
Base FCF: $1.6B (median of recent 5yr)
Growth: 14%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$74.66
18% downside
EPS: $3.09
Target P/E: 32×
Formula: EPS × P/E
P/E Fair Value
$98.88
+8% upside
Institutional Ownership
83.6% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| INVESTOR AB | 58.44M | $4.61B | 10.40% | +56.8K | 2026-06-30 |
| BlackRock, Inc. | 37.19M | $2.93B | 6.62% | -975.7K | 2026-06-30 |
| VANGUARD CAPITAL MANAGEMENT LLC | 31.23M | $2.46B | 5.56% | -12.2K | 2026-06-30 |
| WELLINGTON MANAGEMENT GROUP LLP | 30.33M | $2.39B | 5.40% | -5.95M | 2026-06-30 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 26.09M | $2.06B | 4.64% | -12.2K | 2026-06-30 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 23.26M | $1.83B | 4.14% | -5.80M | 2026-06-30 |
| STATE STREET CORP | 20.18M | $1.59B | 3.59% | +467.2K | 2026-06-30 |
| GEODE CAPITAL MANAGEMENT, LLC | 13.12M | $1.03B | 2.33% | +143.9K | 2026-06-30 |
| MORGAN STANLEY | 11.36M | $895.0M | 2.02% | +1.10M | 2026-06-30 |
| FRANKLIN RESOURCES INC | 9.10M | $717.0M | 1.62% | -69.6K | 2026-06-30 |