Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NasdaqXSWX:NDAQ +1.73%91 Debt-to-Equity is 0.79 as of Mar. 2026, which is 1% below its 10-year median of 0.80. GuruFocus rates XSWX:NDAQ with a GF Score™ of 91/100 and a GF Value™ of CHF60.21. The stock has 4 warning signs investors should review. Among 610 Capital Markets companies, Nasdaq ranks worse than 66.23% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Nasdaq's Debt-to-Equity or its related term are showing as below:
XSWX:NDAQ'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.64 Med: 0.8 Max: 1.66
Current: 0.79
During the past 13 years, the highest Debt-to-Equity Ratio of Nasdaq was 1.66. The lowest was 0.64. And the median was 0.80.
XSWX:NDAQ's Debt-to-Equity is ranked worse than 66.23% of 610
companies
in the Capital Markets industry
Industry Median: 0.31
vs XSWX:NDAQ: 0.79
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Nasdaq Debt-to-Equity Related Terms
Nasdaq Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Nasdaq's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:NDAQ vs MSCI, COIN, CBOE: Debt-to-Equity Comparison
For the Financial Data & Stock Exchanges subindustry, Nasdaq's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nasdaq Debt-to-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Nasdaq's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Nasdaq's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Nasdaq (XSWX:NDAQ) has a Debt-to-Equity of 0.79 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Nasdaq and its competitors. This is near median its historical median of 0.80. Over the past decade, Nasdaq's Debt-to-Equity has ranged from 0.64 to 1.66. According to the industry distribution chart, Nasdaq ranks #404 out of 610 companies in the Capital Markets industry, placing it in the top 66.2%.
Is Nasdaq's Debt-to-Equity too high?
Nasdaq's current Debt-to-Equity of 0.79 is near median its 10-year median of 0.80. Over the past 10 years, this metric has ranged from a low of 0.64 to a high of 1.66. The Capital Markets industry median Debt-to-Equity is 0.31. Nasdaq's value of 0.79 is 154.8% above this industry median. Based on the distribution chart, Nasdaq ranks #404 out of 610 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Nasdaq has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Nasdaq's Debt-to-Equity compare to MSCI and COIN?
According to the Capital Markets industry distribution chart, Nasdaq ranks #404 out of 610 companies for Debt-to-Equity. This places Nasdaq in the lower half of its industry. The industry median Debt-to-Equity is 0.31. Nasdaq's value of 0.79 is 154.8% above this benchmark. Historically, Nasdaq's own Debt-to-Equity has ranged from 0.64 to 1.66 over the past decade. While the company's 10-year median is 0.80 vs. the industry median of 0.31, Nasdaq has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Capital Markets company?
The median Debt-to-Equity among Capital Markets companies is 0.31, based on 610 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nasdaq's current Debt-to-Equity of 0.79 is 154.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Nasdaq and its competitors. For the Capital Markets industry, the median Debt-to-Equity is 0.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nasdaq's current Debt-to-Equity is 0.79, which is near median its own 10-year median of 0.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nasdaq stock overvalued right now?
Nasdaq (XSWX:NDAQ) has a current Debt-to-Equity of 0.79. The stock's GF Value™ is CHF60.21, compared to a current price of CHF72.74 — trading 20.8% above its estimated fair value. The current Debt-to-Equity is 0.79, which is near median its 10-year median of 0.80 and 154.8% above the Capital Markets industry median of 0.31. Nasdaq's overall GF Score™ is 91/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Nasdaq (XSWX:NDAQ), the current Debt-to-Equity is 0.79 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Nasdaq (XSWX:NDAQ) Overvalued in 2026?
Based on GuruFocus' analysis, Nasdaq stock appears to be overvalued.
The current stock price of CHF72.74 is trading 20.8% above its estimated GF Value™ of CHF60.21.
Key valuation signals for XSWX:NDAQ:
Debt-to-Equity: 0.79 (near median its 10-year median of 0.80)
GF Value™: CHF60.21 vs. price of CHF72.74 (20.8% above fair value)
Industry Position: 154.8% above the Capital Markets median (#404 of 610)
No single metric tells the full story. See the XSWX:NDAQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its trading business (about 22.5% of sales), the company sells market and financial data to investors, offers Nasdaq-branded indexes, and lists companies through its capital access segment (42.5%). Nasdaq's newest segment, financial technology, was primarily constructed through the acquisitions of Verafin and Adenza and has expanded the company into capital management, financial crime, and regulatory compliance software (35%) as it seeks to become a diversified technology company.
91GF Score
Get the complete analysis for XSWX:NDAQ
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:NDAQ has been successfully added to your 
