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 51,432 - -
Change - -14.18% 11.3% 32.46% 24.81% -7.27% - -
Enterprise Value (EV) 1 40,526 35,015 43,338 53,108 63,623 59,220 58,057 56,729
Change - -13.6% 23.77% 22.54% 19.8% -6.92% -1.97% -2.29%
P/E 29.8x 27.1x 28x 40.1x 31.4x 25.9x 23.7x 20.9x
PBR 5.53x 4.91x 3.09x 3.97x 4.53x 4.31x 3.91x 3.48x
PEG - -7.08x -3.52x -5.56x 0.5x 1.7x 2.51x 1.6x
Capitalization / Revenue 10.3x 8.41x 8.61x 9.49x 10.6x 8.7x 8.04x 7.43x
EV / Revenue 11.8x 9.78x 11.1x 11.3x 12.1x 10x 9.07x 8.2x
EV / EBITDA 21.2x 17.8x 19.9x 20.1x 20.8x 16.7x 15x 13.5x
EV / EBIT 22.5x 18.8x 21x 21.1x 21.8x 17.6x 15.7x 14x
EV / FCF 44.1x 22.5x 28.2x 30.7x 32x 23.7x 21.7x 18.9x
FCF Yield 2.27% 4.44% 3.55% 3.26% 3.13% 4.23% 4.6% 5.28%
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% 1.31% 1.46% 1.65%
EPS 2 2.35 2.26 2.08 1.93 3.09 3.549 3.884 4.402
Distribution rate 29.9% 34.5% 41.3% 48.7% 34% 33.9% 34.6% 34.6%
Net sales 1 3,420 3,582 3,895 4,683 5,249 5,911 6,400 6,920
EBITDA 1 1,912 1,966 2,182 2,646 3,063 3,548 3,877 4,204
EBIT 1 1,804 1,861 2,065 2,521 2,918 3,369 3,701 4,045
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 7,789 6,625 5,298
Reference price 2 70.00 61.35 58.14 77.31 97.13 92.01 92.01 92.01
Nbr of stocks (in thousands) 501,666 491,280 576,965 574,758 570,995 558,977 - -
Announcement Date 1/26/22 A 1/25/23 A 1/31/24 A 1/29/25 A 1/29/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.84x10.08x16.81x1.31% 51.43B
21.66x9.56x14.22x1.36% 87.47B
24.73x14.93x18.43x3.53% 64B
22.25x8.36x13.94x1.7% 58.64B
27.43x5.11x10.19x1.96% 55.64B
31.29x14.72x22.67x2.04% 20.82B
21.48x8.42x13.32x2.33% 18.91B
13.65x7.79x11.12x6.4% 17.32B
23.21x8.41x14.59x1.89% 10.43B
19.15x-4.95x-8.47x1.66% 7.37B
Average 23.07x 8.25x 12.68x 2.42% 39.2B
Weighted average by Cap. 23.76x 9.53x 14.48x 2.17%

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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