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NasdaqNDAQ -1.02%86 EV-to-OCF is 26.32 as of Aug. 02, 2026, which is 23% above its 10-year median of 21.41. GuruFocus rates NDAQ with a GF Score™ of 86/100 and a GF Value™ of $88.03 (Fairly Valued). The stock has 4 warning signs investors should review. Among 808 Capital Markets companies, Nasdaq ranks worse than 87.75% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Nasdaq's Enterprise Value is $59,111 Mil.
Nasdaq's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $2,246 Mil. Therefore, Nasdaq's EV-to-OCF for today is 26.32.
The historical rank and industry rank for Nasdaq's EV-to-OCF or its related term are showing as below:
NDAQ'
s EV-to-OCF Range Over the Past 10 Years
Min: 15.81 Med: 21.41 Max: 42.9
Current: 26.32
During the past 13 years, the highest EV-to-OCF of Nasdaq was 42.90. The lowest was 15.81. And the median was 21.41.
NDAQ's EV-to-OCF is ranked worse than 87.75% of 808
companies
in the Capital Markets industry
Industry Median: -0.03
vs NDAQ: 26.32
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-08-02), Nasdaq's stock price is $94.19.
Nasdaq's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 was $3.430. Therefore, Nasdaq's PE Ratio (TTM) for today is 27.46.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Nasdaq's share price for today is $94.19.
Nasdaq's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $3.430.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Nasdaq EV-to-OCF Related Terms
Nasdaq EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Nasdaq's EV-to-OCF 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.
For the Financial Data & Stock Exchanges subindustry, Nasdaq's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Nasdaq's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Nasdaq's EV-to-OCF falls into.
Nasdaq's current Enterprise Value is $59,111 Mil.
Nasdaq's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,246 Mil.
* 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 (NDAQ) has a EV-to-OCF of 26.32 as of Aug. 02, 2026. This is 23% above median its historical median of 21.41. Over the past decade, Nasdaq's EV-to-OCF has ranged from 15.81 to 42.90. According to the industry distribution chart, Nasdaq ranks #709 out of 808 companies in the Capital Markets industry, placing it in the top 87.7%.
Is Nasdaq's EV-to-OCF too high?
Nasdaq's current EV-to-OCF of 26.32 is 23% above median its 10-year median of 21.41. Over the past 10 years, this metric has ranged from a low of 15.81 to a high of 42.90. Based on the distribution chart, Nasdaq ranks #709 out of 808 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Nasdaq has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nasdaq's EV-to-OCF compare to COIN and MSCI?
According to the Capital Markets industry distribution chart, Nasdaq ranks #709 out of 808 companies for EV-to-OCF. This places Nasdaq in the lower half of its industry. Historically, Nasdaq's own EV-to-OCF has ranged from 15.81 to 42.90 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Capital Markets company?
A good EV-to-OCF depends on the Capital Markets industry context. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. Nasdaq's current EV-to-OCF is 26.32, which is 23% above median its own 10-year median of 21.41. 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?
Based on GuruFocus' analysis, Nasdaq (NDAQ) is currently considered Fairly Valued. The stock's GF Value™ is $88.03, compared to a current price of $94.19 — trading 7% above its estimated fair value. The current EV-to-OCF is 26.32, which is 23% above median its 10-year median of 21.41. Nasdaq's overall GF Score™ is 86/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Nasdaq (NDAQ), the current EV-to-OCF is 26.32 as of Aug. 02, 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 (NDAQ) Overvalued in 2026?
Based on GuruFocus' analysis, Nasdaq stock appears to be overvalued.
The current stock price of $94.19 is trading 7% above its estimated GF Value™ of $88.03.
GuruFocus considers Nasdaq to be Fairly Valued.
Key valuation signals for NDAQ:
EV-to-OCF: 26.32 (23% above median its 10-year median of 21.41)
GF Value™: $88.03 vs. price of $94.19 (7% above fair value)
No single metric tells the full story. See the 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.
86GF Score
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