Nasdaq reported strong third-quarter results as continued momentum in its index and financial technology segments more than made up for limited trading revenue growth. Net revenue increased 12.6% from last year, while adjusted diluted earnings per share rose 18% to $1.04.
Nasdaq's capital markets technology business has recently outperformed expectations. If cross-selling opportunities with Nasdaq's other businesses prove stronger than expected, then financial technology growth could be better than projected.
Nasdaq continues to face growing competitive pressure at its exchanges, with two new competitors launching in 2020 and another in 2026. This could lead to falling market share in its exchange business.
|
Metric
|
NDAQ
|
CME
|
LSEG
|
|---|---|---|---|
Price/Earnings (Normalized) | 26.51 | 25.82 | 21.35 |
Price/Book Value | 4.78 | 4.11 | 2.48 |
Price/Sales | 6.36 | 15.82 | 5.03 |
Price/Cash Flow | 20.92 | 25.01 | 11.24 |
|
Metric
|
NDAQ
|
CME
|
LSEG
|
|---|---|---|---|
Quick Ratio | 0.44 | 0.02 | 0.01 |
Current Ratio | 1.00 | 1.02 | 1.00 |
Interest Coverage | 8.70 | 32.98 | 6.59 |
|
Metric
|
NDAQ
|
CME
|
LSEG
|
|---|---|---|---|
Return on Assets (Normalized) | 7.99% | — | 0.32% |
Return on Equity (Normalized) | 19.05% | — | 13.33% |
Return on Invested Capital (Normalized) | 11.84% | — | 8.39% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| S&P Global Inc
SPGI
| LOCK|RsV$N&B | LOCK|Gs | $133B | |||
| CME Group Inc Class A
CME
| LOCK|kl%j!<d | LOCK|>yK | $109B | |||
| Intercontinental Exchange Inc
ICE
| LOCK|#&kX$QQ | LOCK|tvT | $91B | |||
| Moodys Corp
MCO
| LOCK|L@%mq<F@ | LOCK|CY | $83B | |||
| MSCI Inc
MSCI
| LOCK|Tdl%&t$ | LOCK|SJ | $45B | |||
| Coinbase Global Inc Ordinary Shares - Class A
COIN
| LOCK|$&xT>B | LOCK|k>< | $43B | |||
| Cboe Global Markets Inc
CBOE
| LOCK|!$cYBp | LOCK|SzRt# | $36B | |||
| TransUnion
TRU
| LOCK|!Rg&p@ | LOCK|j%cP | $16B | |||
| FactSet Research Systems Inc
FDS
| LOCK|YSZhyd | LOCK|M>Z | $12B |
United States