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 51,668 - -
Change - -14.18% 11.3% 32.46% 24.81% -6.84% - -
Enterprise Value (EV) 1 40,526 35,015 43,338 53,108 63,623 59,781 59,037 58,188
Change - -13.6% 23.77% 22.54% 19.8% -6.04% -1.24% -1.44%
P/E 29.8x 27.1x 28x 40.1x 31.4x 27.6x 24.9x 21.8x
PBR 5.53x 4.91x 3.09x 3.97x 4.53x 4.34x 4.08x 3.77x
PEG - -7.08x -3.52x -5.56x 0.5x 2.6x 2.3x 1.5x
Capitalization / Revenue 10.3x 8.41x 8.61x 9.49x 10.6x 8.9x 8.22x 7.62x
EV / Revenue 11.8x 9.78x 11.1x 11.3x 12.1x 10.3x 9.39x 8.58x
EV / EBITDA 21.2x 17.8x 19.9x 20.1x 20.8x 17.4x 15.7x 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 23.4x 22.4x 19.6x
FCF Yield 2.27% 4.44% 3.55% 3.26% 3.13% 4.28% 4.47% 5.1%
Dividend per Share 2 0.7033 0.78 0.86 0.94 1.05 1.185 1.334 1.501
Rate of return 1% 1.27% 1.48% 1.22% 1.08% 1.26% 1.42% 1.59%
EPS 2 2.35 2.26 2.08 1.93 3.09 3.418 3.788 4.325
Distribution rate 29.9% 34.5% 41.3% 48.7% 34% 34.7% 35.2% 34.7%
Net sales 1 3,420 3,582 3,895 4,683 5,249 5,808 6,288 6,783
EBITDA 1 1,912 1,966 2,182 2,646 3,063 3,444 3,767 4,092
EBIT 1 1,804 1,861 2,065 2,521 2,918 3,290 3,609 3,967
Net income 1 1,187 1,125 1,059 1,117 1,788 1,940 2,110 2,357
Net Debt 1 5,408 4,875 9,793 8,673 8,162 8,114 7,370 6,520
Reference price 2 70.00 61.35 58.14 77.31 97.13 94.25 94.25 94.25
Nbr of stocks (in thousands) 501,666 491,280 576,965 574,758 570,995 565,541 - -
Announcement Date 26/01/22 25/01/23 31/01/24 29/01/25 29/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.71x8.89x13.2x1.51% 79.21B
25.64x14.96x18.97x3.49% 63.44B
34.24x5.38x10.72x1.84% 59.61B
20.93x7.9x13.21x1.8% 53.78B
35.45x16.27x25.55x1.88% 19.88B
20.93x8.13x13.03x2.38% 17.45B
13.2x6.85x9.76x7.42% 15.47B
22.69x8.29x14.42x1.9% 9.95B
18.92x-4.42x-7.6x1.61% 7.88B
Average 23.52x 8.03x 12.36x 2.65% 36.3B
Weighted average by Cap. 24.50x 9.24x 13.98x 2.36%

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