Nasdaq Inc
NDAQ: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$26.00 | Sshxxsz | Kqdxzrl |
Nasdaq and Intercontinental Exchange's Expansion Into New Industries Will Drive Future Growth
While the core exchange business remains highly attractive, generating substantial cash flow while requiring minimal incremental capital, the industry is mature and faces limited growth prospects. This is particularly true for U.S. equity and options exchanges, as increased competition and regulatory pressure further reduce growth potential for trading and market data revenue. Additionally, antitrust considerations leave little room for further industry consolidation.