Start with its own history
At 30.05×, NDAQ is 14.1% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NASDAQ · NDAQFinancial - Data & Stock ExchangesUpdated Nov 5, 2026
Nasdaq, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
30.05×
14.1% belowthe 10-year annual average
Share price109.7
÷Earnings per share3.65
Price and EPS in quote currency. Calculation details
Investors are paying 30.05 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 34.98×
3-year average32.86×3 positive annual observations
5-year average30.98×5 positive annual observations
10-year average34.98×10 positive annual observations
Peer median · TTM25.18×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 24 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 31.03× | -22.1% |
| Dec 31, 2024 | 39.85× | +43.9% |
| Dec 31, 2023 | 27.69× | +2.9% |
| Dec 31, 2022 | 26.91× | -8.5% |
| Dec 31, 2021 | 29.41× | +25.6% |
| Dec 31, 2020 | 23.41× | +2.3% |
| Dec 31, 2019 | 22.88× | -22.6% |
| Dec 31, 2018 | 29.55× | +69.6% |
View all 24 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 17.42× | -82.9% |
| Dec 31, 2016 | 101.68× | +345.7% |
| Dec 31, 2015 | 22.81× | +17.0% |
| Dec 31, 2014 | 19.50× | +13.1% |
| Dec 31, 2013 | 17.23× | +44.8% |
| Dec 31, 2012 | 11.90× | +6.3% |
| Dec 31, 2011 | 11.19× | -8.0% |
| Dec 31, 2010 | 12.17× | -20.8% |
| Dec 31, 2009 | 15.37× | +2.6% |
| Dec 31, 2008 | 14.98× | +35.3% |
| Dec 31, 2007 | 11.07× | -55.7% |
| Dec 31, 2006 | 25.02× | -59.5% |
| Dec 31, 2005 | 61.74× | N/M |
| Dec 31, 2004 | N/M | N/M |
| Dec 31, 2003 | N/M | N/M |
| Dec 31, 2002 | 25.62× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How NDAQ compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 NDAQ This stockNasdaq, Inc. | 30.05× |
 ICEIntercontinental Exchange, Inc. | 23.77× |
 CMECME Group Inc. | 25.14× |
 CBOECboe Global Markets, Inc. | 24.50× |
 LSEGYLondon Stock Exchange Group plc | 34.72× |
 DBOEYDeutsche Börse AG | 26.25× |
 EUXTFEuronext N.V. | 24.46× |
 HKXCYHong Kong Exchanges and Clearing Limited | 25.21× |
 SPXCYSingapore Exchange Limited | 32.18× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does NDAQ’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 25.18×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take NDAQ into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("NDAQ", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 109.7 ÷ EPS 3.65 = 30.05×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
NDAQ P/E ratio: common questions
The essentials behind the numbers.
Nasdaq, Inc.'s current P/E is 30.05× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.