Is Nasdaq, Inc. overvalued or undervalued?

As of 8 August 2025, the valuation grade for Nasdaq, Inc. has moved from expensive to fair. The company appears fairly valued based on its current metrics, with a P/E ratio of 36, a Price to Book Value of 4.31, and an EV to EBITDA of 18.19. In comparison to peers, Nasdaq's P/E ratio is slightly higher than Intercontinental Exchange, Inc. at 36.27 and significantly lower than The Goldman Sachs Group, Inc. at 41.63, indicating a competitive valuation within its industry.
Recent performance shows that while Nasdaq has outperformed the S&P 500 year-to-date and over the past year, it has lagged behind in the three and ten-year periods, suggesting a mixed performance outlook. The company’s 5-year return of 117.73% is notable, but it still trails the S&P 500's 231.64% return over the same timeframe. Overall, Nasdaq, Inc. is fairly valued in the current market context.