NasdaqNDAQ -1.05%92 FCF Margin % is 29.43% as of Mar. 2026, which is 43% above its 10-year median of 20.54. GuruFocus rates NDAQ with a GF Score™ of 92/100 and a GF Value™ of $77.49 (Fairly Valued). The stock has 3 warning signs investors should review. Among 771 Capital Markets companies, Nasdaq ranks better than 68.48% on this metric.
FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Nasdaq's Free Cash Flow for the
three
months ended in Mar. 2026 was $629 Mil. Nasdaq's Revenue for the
three
months ended in Mar. 2026 was $2,137 Mil. Therefore, Nasdaq's FCF Margin % for the quarter that ended in Mar. 2026 was 29.43%.
The historical rank and industry rank for Nasdaq's FCF Margin % or its related term are showing as below:
NDAQ'
s FCF Margin % Range Over the Past 10 Years
Min: 15.63 Med: 20.54 Max: 25.36
Current: 24.12
During the past 13 years, the highest FCF Margin % of Nasdaq was 25.36%. The lowest was 15.63%. And the median was 20.54%.
NDAQ's FCF Margin % is ranked better than 68.48% of 771
companies
in the Capital Markets industry
Industry Median: 0.9
vs NDAQ: 24.12
Nasdaq FCF Margin % Related Terms
Nasdaq FCF Margin % Historical Data
* Premium members only.
The historical data trend for Nasdaq's FCF Margin % 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 FCF Margin %, along with its competitors' market caps and FCF Margin % 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 FCF Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Nasdaq's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Nasdaq's FCF Margin % 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 (NDAQ) has a FCF Margin % of 29.43% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Nasdaq and its competitors. This is 43% above median its historical median of 20.54. Over the past decade, Nasdaq's FCF Margin % has ranged from 15.63 to 25.36. According to the industry distribution chart, Nasdaq ranks #243 out of 771 companies in the Capital Markets industry, placing it in the top 31.5%.
Is Nasdaq's FCF Margin % too high?
Nasdaq's current FCF Margin % of 29.43% is 43% above median its 10-year median of 20.54. Over the past 10 years, this metric has ranged from a low of 15.63 to a high of 25.36. The Capital Markets industry median FCF Margin % is 0.90. Nasdaq's value of 29.43% is 3170% above this industry median. Based on the distribution chart, Nasdaq ranks #243 out of 771 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Nasdaq has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nasdaq's FCF Margin % compare to COIN and MSCI?
According to the Capital Markets industry distribution chart, Nasdaq ranks #243 out of 771 companies for FCF Margin %. This puts Nasdaq in the upper half of its industry. The industry median FCF Margin % is 0.90. Nasdaq's value of 29.43% is 3170% above this benchmark. Historically, Nasdaq's own FCF Margin % has ranged from 15.63 to 25.36 over the past decade. While the company's 10-year median is 20.54 vs. the industry median of 0.90, 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 FCF Margin % for a Capital Markets company?
The median FCF Margin % among Capital Markets companies is 0.90, based on 771 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nasdaq's current FCF Margin % of 29.43% is 3170% 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 FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Nasdaq and its competitors. For the Capital Markets industry, the median FCF Margin % is 0.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nasdaq's current FCF Margin % is 29.43%, which is 43% above median its own 10-year median of 20.54. 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 $77.49, compared to a current price of $81.63 — trading 5.3% above its estimated fair value. The current FCF Margin % is 29.43%, which is 43% above median its 10-year median of 20.54 and 3170% above the Capital Markets industry median of 0.90. Nasdaq's overall GF Score™ is 92/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Nasdaq (NDAQ), the current FCF Margin % is 29.43% 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 (NDAQ) Overvalued in 2026?
Based on GuruFocus' analysis, Nasdaq stock appears to be overvalued.
The current stock price of $81.63 is trading 5.3% above its estimated GF Value™ of $77.49.
GuruFocus considers Nasdaq to be Fairly Valued.
Key valuation signals for NDAQ:
FCF Margin %: 29.43% (43% above median its 10-year median of 20.54)
GF Value™: $77.49 vs. price of $81.63 (5.3% above fair value)
Industry Position: 3170% above the Capital Markets median (#243 of 771)
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.
92GF Score
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