Risk factors
Nasdaq (NDAQ) risk factors
Item 1A of every Nasdaq, Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.
- FY2025 10-K risk factors54 risks15 new8 dropped18 reworded
Competition now includes financial-services and technology companies, tokenized securities, extended trading hours, and increasingly concentrated customers.
Filed Feb 12, 2026 - FY2024 10-K risk factors46 risks
High indebtedness of $9.5 billion and goodwill of $14.0 billion expose the firm to financial and acquisition risks.
Filed Feb 21, 2025