Nasdaq, Inc.

Methodology

Nasdaq's diversified revenue from exchange operations, data services, and technology solutions creates relatively predictable earnings with some sensitivity to trading volumes. Market data subscriptions and index licensing provide recurring revenue stability. The calculation works reasonably well when normalizing for trading volume volatility and focusing on organic growth from data and technology segments.

Methodology

Nasdaq typically commands premium PEG ratios reflecting business mix shift toward stable recurring revenue from data and index licensing beyond volatile transaction fees. The metric should account for market data growth and technology segment contributions. Compare to exchange peers like CME and ICE while considering diversification beyond core trading operations.

Methodology

Nasdaq offers a meaningful dividend with steady growth as management balances capital returns with strategic investments and acquisitions. The dividend adds significant value to total returns for this diversified exchange operator. PEGY better reflects the income component that supplements growth from data services and technology solutions beyond trading volumes.