Nasdaq, Inc. (NDAQ) – Adenza Acquisition: Risky or Sharp Move?

Nasdaq, Inc. (NDAQ) (Q2FY23)

Stock Performance: In the past 3 years, Nasdaq has given a return of 22%. The stock surged to $51.47 in FY23 from $42.33 in FY20. The stock price decreased by -15% in past 1 year. The stock has a 52-week high of $69.22 and its 52-week low is $48.65. The stock price decreased by -15% in past 1 year. The stock has a 52-week high of $69.22 and its 52- week low is $48.65.

Quarter Performance: In Q2FY23, NDAQ’s revenue decreased by -8% to $1.43bn from $1.55bn in Q2FY22 and the COGS decreased by 23% to $508mn from $659mn in the same period.

In Q2FY23, the net income of the company decreased by -13% to $267mn from $307mn in Q2FY22 and the EPS declined by -13% to $0.54 from $0.62 in Q2FY22.

Guidance: For FY23, NDAQ expects its non-GAAP operating expenses to be in a range of $1.785bn to $1.815bn. Non-GAAP tax to be in the range of $24% to $26%.

Highlights

Company has announced an agreemen to sell its European energy trading and clearing business to the European Energy Exchange (EEX), pending regulatory approval. The transaction is set to be completed in the first half of 2024.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Equity Price Performance

Crispidea Coverage

No of Pages: 37

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