Nasdaq annual gross margin
2008
2009
2010
2011
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2015
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2017
2018
2019
2020
2021
2022
2023
2024
2025
Nasdaq Gross Margin Growth & History (NDAQ)
Nasdaq's gross margin was 63.53% for fiscal 2025.
View full Nasdaq company overviewNasdaq annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 63.53% | +0.71 pp |
| 2024 | 2024-12-31 | 62.82% | −1.41 pp |
| 2023 | 2023-12-31 | 64.23% | +6.70 pp |
| 2022 | 2022-12-31 | 57.53% | −0.57 pp |
| 2021 | 2021-12-31 | 58.10% | +6.50 pp |
| 2020 | 2020-12-31 | 51.61% | −7.93 pp |
| 2019 | 2019-12-31 | 59.53% | +0.47 pp |
| 2018 | 2018-12-31 | 59.06% | −2.01 pp |
| 2017 | 2017-12-31 | 61.07% | −0.38 pp |
| 2016 | 2016-12-31 | 61.45% | +0.03 pp |
| 2015 | 2015-12-31 | 61.42% | +2.36 pp |
| 2014 | 2014-12-31 | 59.06% | +0.04 pp |
| 2013 | 2013-12-31 | 59.02% | +5.36 pp |
| 2012 | 2012-12-31 | 53.65% | +4.50 pp |
| 2011 | 2011-12-31 | 49.16% | +1.65 pp |
| 2010 | 2010-12-31 | 47.51% | +4.91 pp |
| 2009 | 2009-12-31 | 42.60% | +2.60 pp |
| 2008 | 2008-12-31 | 40.00% | — |
Nasdaq quarterly gross margin
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| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 59.24% | −2.92 pp |
| Q1 2026 | 2026-03-31 | 65.84% | +6.82 pp |
| Q4 2025 | 2025-12-31 | 66.02% | +5.63 pp |
| Q3 2025 | 2025-09-30 | 67.16% | +6.91 pp |
| Q2 2025 | 2025-06-30 | 62.16% | −2.52 pp |
| Q1 2025 | 2025-03-31 | 59.02% | −7.71 pp |
| Q4 2024 | 2024-12-31 | 60.38% | −7.38 pp |
| Q3 2024 | 2024-09-30 | 60.25% | −4.53 pp |
| Q2 2024 | 2024-06-30 | 64.68% | +0.13 pp |
| Q1 2024 | 2024-03-31 | 66.73% | +7.10 pp |
| Q4 2023 | 2023-12-31 | 67.76% | +10.43 pp |
| Q3 2023 | 2023-09-30 | 64.78% | +7.62 pp |
| Q2 2023 | 2023-06-30 | 64.55% | +7.01 pp |
| Q1 2023 | 2023-03-31 | 59.62% | +1.51 pp |
| Q4 2022 | 2022-12-31 | 57.33% | −3.04 pp |
| Q3 2022 | 2022-09-30 | 57.16% | −4.59 pp |
| Q2 2022 | 2022-06-30 | 57.54% | −2.38 pp |
| Q1 2022 | 2022-03-31 | 58.11% | +6.57 pp |
| Q4 2021 | 2021-12-31 | 60.37% | +6.43 pp |
| Q3 2021 | 2021-09-30 | 61.75% | +11.15 pp |
| Q2 2021 | 2021-06-30 | 59.92% | +9.92 pp |
| Q1 2021 | 2021-03-31 | 51.54% | −0.27 pp |
| Q4 2020 | 2020-12-31 | 53.94% | −6.89 pp |
| Q3 2020 | 2020-09-30 | 50.60% | −7.06 pp |
| Q2 2020 | 2020-06-30 | 50.00% | −8.72 pp |
| Q1 2020 | 2020-03-31 | 51.81% | −9.21 pp |
| Q4 2019 | 2019-12-31 | 60.83% | +4.00 pp |
| Q3 2019 | 2019-09-30 | 57.66% | −4.58 pp |
| Q2 2019 | 2019-06-30 | 58.72% | −1.16 pp |
| Q1 2019 | 2019-03-31 | 61.02% | +3.16 pp |
| Q4 2018 | 2018-12-31 | 56.83% | −5.03 pp |
| Q3 2018 | 2018-09-30 | 62.24% | −0.25 pp |
| Q2 2018 | 2018-06-30 | 59.88% | −0.08 pp |
| Q1 2018 | 2018-03-31 | 57.86% | −2.10 pp |
| Q4 2017 | 2017-12-31 | 61.86% | +0.40 pp |
| Q3 2017 | 2017-09-30 | 62.49% | −0.48 pp |
| Q2 2017 | 2017-06-30 | 59.96% | −2.36 pp |
| Q1 2017 | 2017-03-31 | 59.96% | +0.95 pp |
| Q4 2016 | 2016-12-31 | 61.46% | −0.36 pp |
| Q3 2016 | 2016-09-30 | 62.97% | +2.24 pp |
| Q2 2016 | 2016-06-30 | 62.32% | −1.87 pp |
| Q1 2016 | 2016-03-31 | 59.01% | −0.09 pp |
| Q4 2015 | 2015-12-31 | 61.82% | +5.46 pp |
| Q3 2015 | 2015-09-30 | 60.73% | −0.02 pp |
| Q2 2015 | 2015-06-30 | 64.19% | +3.73 pp |
| Q1 2015 | 2015-03-31 | 59.09% | +0.18 pp |
| Q4 2014 | 2014-12-31 | 56.37% | −4.96 pp |
| Q3 2014 | 2014-09-30 | 60.76% | −2.10 pp |
| Q2 2014 | 2014-06-30 | 60.46% | +5.06 pp |
| Q1 2014 | 2014-03-31 | 58.91% | +2.73 pp |
| Q4 2013 | 2013-12-31 | 61.32% | +5.56 pp |
| Q3 2013 | 2013-09-30 | 62.86% | +7.63 pp |
| Q2 2013 | 2013-06-30 | 55.41% | +3.01 pp |
| Q1 2013 | 2013-03-31 | 56.18% | +4.69 pp |
| Q4 2012 | 2012-12-31 | 55.76% | +5.17 pp |
| Q3 2012 | 2012-09-30 | 55.23% | +9.04 pp |
| Q2 2012 | 2012-06-30 | 52.39% | +2.81 pp |
| Q1 2012 | 2012-03-31 | 51.49% | +0.82 pp |
| Q4 2011 | 2011-12-31 | 50.59% | −0.11 pp |
| Q3 2011 | 2011-09-30 | 46.19% | −2.95 pp |
| Q2 2011 | 2011-06-30 | 49.58% | +5.56 pp |
| Q1 2011 | 2011-03-31 | 50.67% | +3.98 pp |
| Q4 2010 | 2010-12-31 | 50.71% | +7.62 pp |
| Q3 2010 | 2010-09-30 | 49.14% | +7.86 pp |
| Q2 2010 | 2010-06-30 | 44.02% | — |
| Q1 2010 | 2010-03-31 | 46.69% | — |
| Q3 2009 | 2009-09-30 | 43.09% | — |
| Q2 2009 | 2009-06-30 | 41.28% | — |
Nasdaq gross margin trends
Over the last five reported fiscal years, Nasdaq's gross margin increased from 51.61% to 63.53%, a change of +11.92 percentage points. The latest reported quarter, Q2 2026, shows 59.24%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Nasdaq filings at SEC.gov ↗