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Nasdaq (NDAQ) free cash flow by quarter

Nasdaq's free cash flow was $459M in Q3 2026 (third quarter 2026), -28% from Q2 2026. Over the last 7 quarters it ranged from $152M (Q3 2025) to $687M (Q2 2025).

Nasdaq free cash flow by quarterNasdaq free cash flow by quarter$614MQ1 2025$687MQ2 2025$152MQ3 2025$536MQ4 2025$629MQ1 2026$634MQ2 2026$459MQ3 2026
QuarterFree cash flowQ/QY/Y
Q3 2026$459M-28%+202%
Q2 2026$634M+0.8%-8%
Q1 2026$629M+17%+2%
Q4 2025$536M+253%—
Q3 2025$152M-78%—
Q2 2025$687M+12%—
Q1 2025$614M——

Q3 2026 at a glance

Nasdaq, Q3 2026: revenue $2.4B (+21% year over year), operating margin 30.6%, net earnings $539M, operating cash flow $521M. The chart follows the revenue to costs, profit and cash.

Questions

What is Nasdaq's free cash flow?

Nasdaq's free cash flow was $459M in Q3 2026 (third quarter 2026), -28% from Q2 2026.

How has Nasdaq's free cash flow changed?

Over the last 7 quarters it ranged from $152M (Q3 2025) to $687M (Q2 2025).

Q3 2026 results → · How Nasdaq makes money →