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Nasdaq vs CME Group: NDAQ and CME compared
Nasdaq is the larger company: $2.4B of revenue in its latest quarter (Q3 2026) against $1.7B for CME Group (Q3 2026). Nasdaq is growing faster (+21% against +13% a year earlier). CME Group is more profitable, with an operating margin of 65.7% against 30.6%.
Where the money goes: NDAQ and CME
Nasdaq (NDAQ) · Q3 2026
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.
CME Group (CME) · Q3 2026
CME Group, Q3 2026: revenue $1.7B (+13% year over year), operating margin 65.7%, net earnings $1.0B, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Nasdaq (NDAQ) | CME Group (CME) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.4B | $1.7B |
| Revenue growth, Y/Y | +21% | +13% |
| Gross margin | 61.9% | — |
| Operating margin | 30.6% | 65.7% |
| Net earnings | $539M | $1.0B |
| Net margin | 22.5% | 59.7% |
| Operating cash flow | $521M | $1.1B |
| Free cash flow | $459M | $1.1B |
| Market value | $60.4B | $110.1B |
| P/E | 29.3× | 25.2× |
| Analysts’ mean target | $115.38 | $317.06 |
Where the revenue comes from
CME Group
- Clearing and transaction fees: $1.4B (79%)
- Market data and information services: $243M (14%)
- Other: $116M (7%)
Questions
Which is bigger, Nasdaq or CME Group?
Nasdaq is the larger company: $2.4B of revenue in its latest quarter (Q3 2026) against $1.7B for CME Group (Q3 2026).
Is Nasdaq or CME Group growing faster?
Nasdaq is growing faster (+21% against +13% a year earlier).
Which is more profitable, Nasdaq or CME Group?
CME Group is more profitable, with an operating margin of 65.7% against 30.6%.
More: Nasdaq earnings · how Nasdaq makes money · CME Group earnings · how CME Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 22, 2026; 10-Q filed Oct 23, 2026). Fiscal quarters can end on different dates. Not investment advice.