Nasdaq (NDAQ) FY2015 results: revenue $3.4 billion, down 2.8% on the year
Nasdaq, Inc. (NDAQ) reported revenue of $3.4 billion for fiscal 2015, the year ended 31 December 2015, down 2.8% on the year before. Net income was $428 million, up 3.4%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$3.4 billion
-2.8% on the year
FY2008FY2015
Operating margin
21.2%
21.5% a year earlier
FY2008FY2015
Net income
$428 million
+3.4% on the year
FY2008FY2015
Diluted EPS
$0.83
+4.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,403
3,500
3,211
-2.8%
Cost of revenue
1,313
1,433
1,316
-8.4%
Gross profit
2,090
2,067
1,895
+1.1%
Gross margin
61.4%
59.1%
59.0%
Operating income
720
754
688
-4.5%
Operating margin
21.2%
21.5%
21.4%
Interest expense
111
117
111
-5.1%
Pre-tax income
630
594
600
+6.1%
Income tax
203
181
216
+12.2%
Effective tax rate
32.2%
30.5%
36.0%
Net income
428
414
385
+3.4%
Net margin
12.6%
11.8%
12.0%
Diluted EPS
$0.83
$0.80
$0.75
+4.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
727
n/a
574
Capital expenditure
133
140
115
-5.0%
Free cash flow
594
n/a
459
Free cash flow margin
17.5%
n/a
14.3%
Cash from investing
-435
n/a
n/a
Cash from financing
-400
n/a
n/a
Depreciation and amortisation
76.0
68.0
59.0
+11.8%
Share-based compensation
68.0
62.0
47.0
+9.7%
Buybacks
377
178
10.0
+111.8%
Dividends paid
149
98.0
87.0
+52.0%
Dividend per share
$0.30
$0.19
$0.17
+55.2%
Diluted shares, weighted
514m
519m
514m
-1.0%
Shares outstanding at period end
493m
506m
508m
-2.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,609
5,793
6,184
-3.2%
Non-controlling interest
n/a
1.0
n/a
Debt
2,364
2,313
2,634
+2.2%
Other liabilities
3,888
3,980
3,759
-2.3%
Total liabilities and equity
11,861
12,087
12,577
-1.9%
Fixed assets
323
292
268
+10.6%
Goodwill
5,395
5,538
6,186
-2.6%
Intangible assets
1,959
2,077
2,386
-5.7%
Investments
201
174
189
+15.5%
Trading assets
189
171
189
+10.5%
Cash and equivalents
301
427
398
-29.5%
Receivables
316
389
393
-18.8%
Other assets
3,177
3,019
2,568
+5.2%
Total assets
11,861
12,087
12,577
-1.9%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.