Nasdaq NDAQ
Nasdaq operates stock exchanges and offers technology, data, and market surveillance services globally. Nasdaq combines an exceptional competitive moat (operating margin of 49.33%) with solid growth (revenue +14.9%), but its valuation is demanding (P/E 27.27) and the market already discounts much of its good prospects.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Nasdaq operates stock exchanges and offers technology, data, and market surveillance services globally. Nasdaq combines an exceptional competitive moat (operating margin of 49.33%) with solid growth (revenue +14.9%), but its valuation is demanding (P/E 27.27) and the market already discounts much of its good prospects.
Score by category
| Category | Score |
|---|---|
| Financial health | 7.4 |
| Quality / Moat | 9.5 |
| Valuation | 1.6 |
| Growth | 7.4 |
| Dividend | 5.5 |
| Momentum | 6.3 |
| Risk & Context | 6.0 |
OVERALL SCORE: 6.2/10
Context and risks
Nasdaq's business is exposed to volatility in crypto asset markets and increasing regulatory scrutiny in the US over the tokenization of securities, adding execution and legal risk to its growth strategy.
News considered in the analysis
- Nasdaq Eyes Always-On Markets With Tokenized Equities and 23/5 Trading — La expansión a mercados 23/5 y valores tokenizados es una oportunidad de crecimiento material para su negocio de tecnología y datos, aunque su adopción regulatoria y de mercado aún es incierta.
- Nasdaq Eyes 2027 Equity Tokens as AI, Cloud and RegTech Fuel Growth — La hoja de ruta hacia tokens de capital en 2027 refuerza la narrativa de crecimiento a largo plazo, pero es un plan a varios años vista con riesgos de ejecución.
- NYSE, Blockchain Team Up For Round-The-Clock Trading — La iniciativa de la competencia (NYSE) para operar 24/7 podría erosionar la ventaja competitiva de Nasdaq en tecnología de mercados, aunque aún está en fase temprana.
- Securitize Stock Jumps 12% as Cantor Bets on a Tokenization Boom — Noticia sobre un competidor en el espacio de tokenización; no aporta información directa sobre los fundamentales de Nasdaq.
- Nasdaq Is Betting on Tokenized Stocks. Here's Why It Just Bought a $100 Million Stake in Kraken's Parent. — La inversión de $100 millones en Kraken es una apuesta estratégica concreta y ya materializada en el negocio de criptoactivos, que podría abrir nuevas fuentes de ingresos.
Verdict: Hold. The quality of the business is first-rate, but the valuation offers no margin of safety; wait for a better entry point or a clear catalyst in tokenization.
Main risk: The main risk is that the growth strategy in tokenization and crypto assets fails to deliver expected returns or faces regulatory hurdles, which would call into question the high multiple the market pays.
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