# NDAQ · Nasdaq, Inc.

Snapshot 2026-10-26 · CIK 0001120193 · Nasdaq · 

Price 102.56 (2026-10-23, Alpaca Market Data (consolidated SIP daily bar)) · Market cap 56.92 B

Machine-readable: https://theclaudetrader.com/s/NDAQ.json · index: https://theclaudetrader.com/llms.txt

## Scores

### Graham Defensive: 40.6 (ok) · complete: True · missing tests: none · current inputs as of 2025-12-31 · stale inputs: Revenue · history 2013–2025 · price 2026-10-23 · verification {'verified': 14, 'mismatch': 0, 'unverified': 21, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham
- 1 Adequate size: 8.26 revenue $B · threshold >= 1 · points 5.0/5
- 2a Current ratio: 1.01  · threshold >= 2.0 · points 0.1/15
- 2b Long-term debt vs working capital: 303.29 LTD / WC · threshold <= 1.0 · points 0.0/15
- 3 Positive earnings each of 10 years: 10 of 10  · threshold 10 of 10 · points 15.0/15
- 4 Dividends every year for 20 years: 14 of 20  · threshold 20 of 20 · points 10.5/15
- 5 EPS growth, 3-yr avg now vs 10 yrs ago: 0.61 -> 2.37 (+286%)  · threshold >= +33% · points 10.0/10
- 6 P/E on 3-year average EPS: 43.3  · threshold <= 15 · points 0.0/15
- 7 P/B <= 1.5, or P/E x P/B <= 22.5: P/B 4.75, product 205.7  · threshold <= 1.5 or <= 22.5 · points 0.0/10

Inputs:
  - Price (close, per traded unit): 102.56 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - Revenue: 8262000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - current_assets: 4533000000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - current_liabilities: 4505000000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - lt_debt: 8492000000.0 · 2026-06-30 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - equity: 11988000000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - Net income FY2016: 106000000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/ · unverified
  - Net income FY2017: 729000000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019320000004/ · unverified
  - Net income FY2018: 458000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019321000011/ · unverified
  - Net income FY2019: 774000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/ · unverified
  - Net income FY2020: 933000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · unverified
  - Net income FY2021: 1187000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Net income FY2022: 1125000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Net income FY2023: 1059000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2024: 1117000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2025: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Dividend years (Yahoo): [2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026] ·  · Yahoo Finance dividend history · https://finance.yahoo.com/quote/NDAQ/history?filter=div · verified (partly: XBRL covers 13 of 20 years)
  - Dividends per share FY2013 (XBRL): 0.52 · 2013-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019316000020/ · verified
  - Dividends per share FY2014 (XBRL): 0.58 · 2014-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019317000003/ · verified
  - Dividends per share FY2015 (XBRL): 0.9 · 2015-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019318000003/ · verified
  - Dividends per share FY2016 (XBRL): 1.21 · 2016-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/ · verified
  - Dividends per share FY2017 (XBRL): 1.46 · 2017-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019320000004/ · verified
  - Dividends per share FY2018 (XBRL): 1.7 · 2018-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019321000011/ · verified
  - Dividends per share FY2019 (XBRL): 1.85 · 2019-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/ · verified
  - Dividends per share FY2020 (XBRL): 0.65 · 2020-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · verified
  - Dividends per share FY2021 (XBRL): 0.7 · 2021-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · verified
  - Dividends per share FY2022 (XBRL): 0.78 · 2022-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · verified
  - Dividends per share FY2023 (XBRL): 0.86 · 2023-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · verified
  - Dividends per share FY2024 (XBRL): 0.94 · 2024-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · verified
  - Dividends per share FY2025 (XBRL): 1.05 · 2025-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · verified
  - EPS diluted FY2014: 0.7967 · 2014-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000112019317000003/ · unverified
  - EPS diluted FY2015: 0.8333 · 2015-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000112019318000003/ · unverified
  - EPS diluted FY2016: 0.21 · 2016-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/ · unverified
  - EPS diluted FY2023: 2.08 · 2023-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - EPS diluted FY2024: 1.93 · 2024-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - EPS diluted FY2025: 3.09 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Shares outstanding: 554962751.0 · 2026-10-16 · SEC cover page 10-Q 0001120193-26-000020 (554,962,751 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/ndaq-20260930.htm · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/R1.htm

### Magic Formula: 84.7 (ok) · complete: True · missing tests: none · current inputs as of 2026-03-31 · stale inputs: operating_income_q · history None–None · price 2026-10-23 · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/magic_formula
-  Earnings yield (EBIT/EV): 4.19 % · threshold  · points /
-  Return on capital (EBIT/(NWC+PPE)): 343.52 % · threshold  · points /
-  Combined rank: 114  · threshold  · points /

Inputs:
  - operating_income: 2331000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/
  - operating_income_q: 657000000.0 · 2026-03-31 · SEC XBRL OperatingIncomeLoss (quarter CY2026Q1) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026027105/
  - operating_income_q: 547000000.0 · 2025-03-31 · SEC XBRL OperatingIncomeLoss (quarter CY2025Q1) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026027105/
  - operating_income_q: 712000000.0 · 2026-06-30 · SEC XBRL OperatingIncomeLoss (quarter CY2026Q2) · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - operating_income_q: 568000000.0 · 2025-06-30 · SEC XBRL OperatingIncomeLoss (quarter CY2025Q2) · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - operating_income_q: 732000000.0 · 2026-09-30 · SEC XBRL OperatingIncomeLoss (quarter CY2026Q3) · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/
  - operating_income_q: 586000000.0 · 2025-09-30 · SEC XBRL OperatingIncomeLoss (quarter CY2025Q3) · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/
  - current_assets: 4533000000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - current_liabilities: 4505000000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - cash: 520000000.0 · 2026-06-30 · SEC XBRL CashAndCashEquivalentsAtCarryingValue · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - ppe_net: 767000000.0 · 2026-06-30 · SEC XBRL PropertyPlantAndEquipmentNet · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - debt_incl_current: 8492000000.0 · 2026-06-30 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - debt_short: 269000000.0 · 2026-06-30 · SEC XBRL ShortTermBorrowings · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/
  - shares_out: 554962751.0 · 2026-10-16 · SEC cover page 10-Q 0001120193-26-000020 (554,962,751 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/ndaq-20260930.htm · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/R1.htm
  - Price (close): 102.56 · 2026-10-23 · Yahoo Finance / Alpaca Market Data · 
  - note: debt = LongTermDebt (incl. current maturities) + short-term borrowings ·  ·  · 

### Momentum: 66.8 (ok) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price 2026-10-23 · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/momentum
-  12-1 month return: 8.9 % · threshold  · points 27.0/50
-  6 month return: 18.7 % · threshold  · points 15.4/20
-  Price / 52-week high: 0.993  · threshold  · points 14.9/15
-  Volatility penalty (60d annualised): 24.5 % · threshold  · points 9.4/15

Inputs:
  - Adjusted close series (14 months): 102.56 · 2026-10-23 · Yahoo Finance / Alpaca Market Data daily history · 

### Insider: 0.0 (ok) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price None · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/insider
-  Open-market buy value / market cap (percentile among buyers): 0.0 bp · threshold  · points 0.0/35
-  Distinct buyers: 0  · threshold  · points 0.0/25
-  Buyer seniority: 0.0  · threshold  · points 0.0/20
-  Recency (half-life 30d): 0.0  · threshold  · points 0.0/10
-  Sales penalty (excludes 10b5-1 plan sales): 0.34 bp · threshold  · points -5.1/0

Inputs:
  - Form 4 S Griggs PC Nelson 2026-08-10: 310212.16 · 2026-08-10 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/1120193/000119312526346807/
  - Form 4 S Peterson Bradley J 2026-08-07: 573300.0 · 2026-08-07 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/1120193/000119312526344576/
  - Form 4 S Griggs PC Nelson 2026-07-29: 1060813.5 · 2026-07-29 · SEC Form 4 (insider transactions data set) · https://www.sec.gov/Archives/edgar/data/1120193/000119312526328462/
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-12 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-09-22 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-09-10 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-08-10 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-08-03 S: 10b5-1 plan ·  · rule · 

### Buffett Quality: 70.0 (ok) · complete: True · missing tests: none · current inputs as of 2026-06-30 · stale inputs: none · history 2016–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 48, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/buffett
- 1 Average return on equity (net income / year-end equity): 13.5% over 8 yrs  · threshold >= 15% · points 19.6/25
- 2 Profitable every year: 10 of 10  · threshold all years · points 15.0/15
- 3 Net income growth, 3-yr average now vs start of window: +17.4% a year  · threshold >= +10% · points 10.0/10
- 4 Borrowings / 3-yr average earnings (years to repay): 6.6 years · threshold <= 4 · points 5.1/15
- 5 Operating margin, 5-yr average: 25.6%  · threshold >= 20% · points 10.0/10
- 6 Free cash flow / net income, 5-yr (operating cash flow minus capex): 1.23  · threshold >= 1.0 · points 10.0/10
- 7 Owner-earnings yield (3-yr avg free cash flow / market cap): 3.1%  · threshold >= 7% · points 0.3/15

Inputs:
  - Price (close, per traded unit): 102.56 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - Net income FY2018: 458000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019321000011/ · unverified
  - Equity at FY2018 end: 5449000000.0 · 2018-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019320000004/ · unverified
  - Net income FY2019: 774000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/ · unverified
  - Equity at FY2019 end: 5639000000.0 · 2019-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019321000011/ · unverified
  - Net income FY2020: 933000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · unverified
  - Equity at FY2020 end: 6433000000.0 · 2020-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/ · unverified
  - Net income FY2021: 1187000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Equity at FY2021 end: 6395000000.0 · 2021-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · unverified
  - Net income FY2022: 1125000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Equity at FY2022 end: 6151000000.0 · 2022-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Net income FY2023: 1059000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Equity at FY2023 end: 10816000000.0 · 2023-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Net income FY2024: 1117000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Equity at FY2024 end: 11191000000.0 · 2024-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2025: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Equity at FY2025 end: 12227000000.0 · 2025-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - Net income FY2016: 106000000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/ · unverified
  - Net income FY2017: 729000000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019320000004/ · unverified
  - Net income FY2018: 458000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019321000011/ · unverified
  - Net income FY2019: 774000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/ · unverified
  - Net income FY2020: 933000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · unverified
  - Net income FY2021: 1187000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Net income FY2022: 1125000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Net income FY2023: 1059000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2024: 1117000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2025: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - debt_incl_current: 8492000000.0 · 2026-06-30 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - debt_short: 269000000.0 · 2026-06-30 · SEC XBRL ShortTermBorrowings · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - Operating income FY2021: 1441000000.0 · 2021-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Revenue FY2021: 5886000000.0 · 2021-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Operating income FY2022: 1564000000.0 · 2022-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Revenue FY2022: 6226000000.0 · 2022-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Operating income FY2023: 1578000000.0 · 2023-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Revenue FY2023: 6064000000.0 · 2023-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Operating income FY2024: 1798000000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Revenue FY2024: 7400000000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Operating income FY2025: 2331000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Revenue FY2025: 8262000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Operating cash flow FY2021: 1083000000.0 · 2021-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified

### Lynch GARP: 42.8 (ok) · complete: True · missing tests: none · current inputs as of 2026-06-30 · stale inputs: none · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 6, 'not_cross_checked': 1} · computed 2026-10-26 · rules https://theclaudetrader.com/p/lynch
- 1 PEG: P/E divided by 5-yr EPS growth (in % points): 3.11  · threshold <= 1.0 · points 0.0/30
- 2 EPS growth, 5-yr compound rate: +10.7% a year  · threshold 12% to 35% a year · points 17.8/20
- 3 P/E on latest annual EPS: 33.2  · threshold <= 25 · points 4.5/10
- 4 Borrowings / equity: 0.73  · threshold <= 0.5 · points 11.5/15
- 5 Years of the last 5 in which EPS rose: 2 of 5  · threshold 5 of 5 · points 6.0/15
- 6 Net cash (cash minus borrowings) / market cap: -14.5%  · threshold >= +10% · points 3.0/10

Inputs:
  - Price (close, per traded unit): 102.56 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - EPS diluted FY2025: 3.09 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - EPS diluted FY2020: 1.86 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · unverified
  - debt_incl_current: 8492000000.0 · 2026-06-30 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - debt_short: 269000000.0 · 2026-06-30 · SEC XBRL ShortTermBorrowings · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - equity: 11988000000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - cash: 520000000.0 · 2026-06-30 · SEC XBRL CashAndCashEquivalentsAtCarryingValue · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified

### Graham Enterprising: 35.2 (ok) · complete: True · missing tests: none · current inputs as of 2026-06-30 · stale inputs: none · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 12, 'not_cross_checked': 3} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham_enterprising
- 1 Current ratio: 1.01  · threshold >= 1.5 · points 0.2/15
- 2 Borrowings vs working capital: 312.89 x · threshold <= 1.1x · points 0.0/15
- 3 No earnings deficit in the last 5 years: 5 of 5 profitable  · threshold 5 of 5 · points 15.0/15
- 4 Pays a current dividend: yes  · threshold yes · points 10.0/10
- 5 EPS higher than five years earlier: 1.86 -> 3.09  · threshold higher · points 10.0/10
- 6 Price / book value per share: 4.75  · threshold <= 1.2 · points 0.0/20
- 7 Price / net current asset value per share (current assets minus all liabilities): None  · threshold <= 0.67 · points 0.0/15

Inputs:
  - Price (close, per traded unit): 102.56 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - current_assets: 4533000000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - current_liabilities: 4505000000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - debt_incl_current: 8492000000.0 · 2026-06-30 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - debt_short: 269000000.0 · 2026-06-30 · SEC XBRL ShortTermBorrowings · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - Net income FY2021: 1187000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ · unverified
  - Net income FY2022: 1125000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ · unverified
  - Net income FY2023: 1059000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2024: 1117000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Net income FY2025: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - Dividend years (Yahoo): [2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026] ·  · Yahoo Finance dividend history · https://finance.yahoo.com/quote/NDAQ/history?filter=div
  - EPS diluted FY2025: 3.09 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - EPS diluted FY2020: 1.86 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ · unverified
  - equity: 11988000000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - Shares outstanding: 554962751.0 · 2026-10-16 · SEC cover page 10-Q 0001120193-26-000020 (554,962,751 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/ndaq-20260930.htm · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/R1.htm

### Piotroski F-Score: 100.0 (ok) · complete: True · missing tests: none · current inputs as of None · stale inputs: none · history 2024–2026 · price None · verification {'verified': 0, 'mismatch': 0, 'unverified': 27, 'not_cross_checked': 0} · computed 2026-10-26 · rules https://theclaudetrader.com/p/piotroski
- 1 Return on assets is positive: 5.8%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 2 Operating cash flow is positive: 2,255M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 3 Return on assets improved on the prior year: 3.7% -> 5.8%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 4 Operating cash flow exceeds net income (accruals): 2,255M vs 1,788M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 5 Long-term debt / assets fell: 29.9% -> 27.6%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 6 Current ratio improved: 0.99 -> 1.01  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 7 No new shares issued (share count did not rise): 571M -> 555M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 8 Operating margin improved (stand-in for gross margin, which the dataset does not carry): 24.3% -> 28.2%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 9 Asset turnover (revenue / assets) improved: 0.24 -> 0.27  · threshold pass = 1 · points 11.11111111111111/11.11111111111111

Inputs:
  - net_income 2025-12-31: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - total_assets 2025-12-31: 31053000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - cfo 2025-12-31: 2255000000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - net_income 2025-12-31: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - net_income 2024-12-31: 1117000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - total_assets 2025-12-31: 31053000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - total_assets 2024-12-31: 30395000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - cfo 2025-12-31: 2255000000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - net_income 2025-12-31: 1788000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001628280-26-027245) · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - lt_debt 2025-12-31: 8573000000.0 · 2025-12-31 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - lt_debt 2024-12-31: 9081000000.0 · 2024-12-31 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - total_assets 2025-12-31: 31053000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - total_assets 2024-12-31: 30395000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - current_assets 2025-12-31: 8003000000.0 · 2025-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - current_assets 2024-12-31: 7786000000.0 · 2024-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - current_liabilities 2025-12-31: 7961000000.0 · 2025-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - current_liabilities 2024-12-31: 7902000000.0 · 2024-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - shares_out 2026-10-16: 554962751.0 · 2026-10-16 · SEC cover page 10-Q 0001120193-26-000020 (554,962,751 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/ndaq-20260930.htm · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/R1.htm · unverified
  - shares_out 2025-10-16: 570995433.0 · 2025-10-16 · SEC XBRL EntityCommonStockSharesOutstanding · https://www.sec.gov/Archives/edgar/data/1120193/000162828025046006/ · unverified
  - operating_income 2025-12-31: 2331000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - operating_income 2024-12-31: 1798000000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - revenue 2025-12-31: 8262000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - revenue 2024-12-31: 7400000000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - revenue 2025-12-31: 8262000000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - revenue 2024-12-31: 7400000000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified
  - total_assets 2025-12-31: 31053000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000013/ · unverified
  - total_assets 2024-12-31: 30395000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ · unverified

## Market value, source trail

- Formula: market_value = traded_price (price date) / depositary_ratio x latest point-in-time SEC shares outstanding (share-count date shown; from the filing cover page, summed across share classes only where the issuer filing verifies the classes are economically equivalent (rule + evidence URL in the source text), else withheld; priced at the primary listed class, so where other classes trade at a different price the value is an approximation; restated only for issuer-verified splits after the count date); weighted-average share counts are never used
- Traded price: 102.56 on 2026-10-23 (USD per traded unit (share or ADS)) · https://docs.alpaca.markets/docs/historical-stock-data-1
- SEC shares outstanding: 554,962,751 underlying shares, period 2026-10-16, SEC cover page 10-Q 0001120193-26-000020 (554,962,751 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/ndaq-20260930.htm, accession 0001120193-26-000020 · https://www.sec.gov/Archives/edgar/data/1120193/000112019326000020/R1.htm
- Depositary ratio: 1.0 (domestic; 10-K filer; SEC shares are the traded units) · None
- Market value (price date x latest reported shares): 56,916,979,743 USD; 102.56 (price 2026-10-23) / 1 x 554,962,751 (shares at 2026-10-16) = 56,916,979,743

## Revenue by fiscal year (SEC XBRL; FY = calendar year in which the fiscal year ends)

- FY2013 (ended 2013-12-31): 3211000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019316000020/
- FY2014 (ended 2014-12-31): 3500000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019317000003/
- FY2015 (ended 2015-12-31): 3403000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019318000003/
- FY2016 (ended 2016-12-31): 3704000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/
- FY2017 (ended 2017-12-31): 3948000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/
- FY2018 (ended 2018-12-31): 4277000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/
- FY2019 (ended 2019-12-31): 4258000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/
- FY2020 (ended 2020-12-31): 5625000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/
- FY2021 (ended 2021-12-31): 5886000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/
- FY2022 (ended 2022-12-31): 6226000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/
- FY2023 (ended 2023-12-31): 6064000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/
- FY2024 (ended 2024-12-31): 7400000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/
- FY2025 (ended 2025-12-31): 8262000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/

## Net income by fiscal year (SEC XBRL)

- FY2013 (ended 2013-12-31): 385000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019316000020/
- FY2014 (ended 2014-12-31): 414000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019317000003/
- FY2015 (ended 2015-12-31): 428000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019318000003/
- FY2016 (ended 2016-12-31): 106000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019319000002/
- FY2017 (ended 2017-12-31): 729000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019320000004/
- FY2018 (ended 2018-12-31): 458000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019321000011/
- FY2019 (ended 2019-12-31): 774000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/
- FY2020 (ended 2020-12-31): 933000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/
- FY2021 (ended 2021-12-31): 1187000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/
- FY2022 (ended 2022-12-31): 1125000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/
- FY2023 (ended 2023-12-31): 1059000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/
- FY2024 (ended 2024-12-31): 1117000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/
- FY2025 (ended 2025-12-31): 1788000000.0 · https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/

## EPS diluted by fiscal year (split-adjusted to today's share basis; as filed in brackets)

- FY2013 (ended 2013-12-31): 0.75 [filed 2.25, split factor 3.0]
- FY2014 (ended 2014-12-31): 0.7967 [filed 2.39, split factor 3.0]
- FY2015 (ended 2015-12-31): 0.8333 [filed 2.5, split factor 3.0]
- FY2016 (ended 2016-12-31): 0.21 [filed 0.63, split factor 3.0]
- FY2017 (ended 2017-12-31): 1.4333 [filed 4.3, split factor 3.0]
- FY2018 (ended 2018-12-31): 0.91 [filed 2.73, split factor 3.0]
- FY2019 (ended 2019-12-31): 1.5433 [filed 4.63, split factor 3.0]
- FY2020 (ended 2020-12-31): 1.86 [filed 1.86, split factor 1.0]
- FY2021 (ended 2021-12-31): 2.35 [filed 2.35, split factor 1.0]
- FY2022 (ended 2022-12-31): 2.26 [filed 2.26, split factor 1.0]
- FY2023 (ended 2023-12-31): 2.08 [filed 2.08, split factor 1.0]
- FY2024 (ended 2024-12-31): 1.93 [filed 1.93, split factor 1.0]
- FY2025 (ended 2025-12-31): 3.09 [filed 3.09, split factor 1.0]

## Dividend years (Yahoo history)

2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026

## Insider transactions (SEC Form 4 data set, latest 40)

- 2026-10-20 S SKULE JEREMY (officer) 1125 @ 95.00 = 106875 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526428912/#live
- 2026-10-12 S SKULE JEREMY (officer) 1125 @ 94.13 = 105896 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526421659/#live
- 2026-09-22 S SKULE JEREMY (officer) 1125 @ 95.00 = 106875 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526400998/
- 2026-09-10 S SKULE JEREMY (officer) 1125 @ 94.22 = 105998 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526390544/
- 2026-08-10 S Griggs PC Nelson (officer) 3226 @ 96.16 = 310212 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526346807/
- 2026-08-10 S SKULE JEREMY (officer) 2250 @ 94.75 = 213188 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526346810/
- 2026-08-07 S Peterson Bradley J (officer) 6000 @ 95.55 = 573300 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526344576/
- 2026-08-03 S Smith Bryan Everard (officer) 1556 @ 95.07 = 147929 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526335033/
- 2026-07-29 S Griggs PC Nelson (officer) 11010 @ 96.35 = 1060814 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526328462/
- 2026-07-27 S Griggs PC Nelson (officer) 11010 @ 93.96 = 1034500 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526320976/
- 2026-07-24 S Griggs PC Nelson (officer) 6777 @ 92.53 = 627076 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526320976/
- 2026-07-24 S Peterson Bradley J (officer) 13000 @ 92.61 = 1203930 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526320978/
- 2026-07-01 S Smith Bryan Everard (officer) 3000 @ 80.00 = 240000 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526294475/
- 2026-06-11 S Smith Bryan Everard (officer) 3000 @ 86.91 = 260730 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526271080/
- 2026-06-11 P INVESTOR AB (10%) 56782 @ 85.98 = 4882116 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526271162/
- 2026-05-18 S Griggs PC Nelson (officer) 5093 @ 92.62 = 471714 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526232545/
- 2026-04-28 S Peterson Bradley J (officer) 7710 @ 90.82 = 700222 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526197102/
- 2026-04-27 S Tal Cohen (officer) 15518 @ 90.75 = 1408258 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526191425/
- 2026-04-24 S Daly Michelle Lynn (officer) 129 @ 88.85 = 11462 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526186881/
- 2026-04-24 S Daly Michelle Lynn (officer) 1194 @ 88.82 = 106051 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526186881/
- 2026-04-01 S FRIEDMAN ADENA T (CEO) 113611 @ 85.44 = 9706924 · https://www.sec.gov/Archives/edgar/data/1120193/000119312526140439/

## Links

- sec_filings: https://www.sec.gov/edgar/browse/?CIK=0001120193
- sec_xbrl_companyfacts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001120193.json
- sec_form4: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001120193&type=4
- sec_8k: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001120193&type=8-K
- yahoo: https://finance.yahoo.com/quote/NDAQ
- stooq: https://stooq.com/q/d/?s=ndaq.us
- morningstar (link only, nothing stored): https://www.morningstar.com/search?query=NDAQ
- finviz (link only, nothing stored): https://finviz.com/quote.ashx?t=NDAQ
- stockanalysis (link only, nothing stored): https://stockanalysis.com/stocks/ndaq/
- seeking_alpha (link only, nothing stored): https://seekingalpha.com/symbol/NDAQ
- openinsider (link only, nothing stored): http://openinsider.com/search?q=NDAQ
- google_news (link only, nothing stored): https://news.google.com/rss/search?q=NDAQ+stock

Cite as: The Claude Trader snapshot 2026-10-26, https://theclaudetrader.com/s/NDAQ; data from SEC EDGAR XBRL and market prices (Alpaca Market Data, Yahoo Finance) to 2026-10-23.

Scores are deterministic rule outputs from public filings. fair_value_model is a labelled model estimate from the same filings (method at /fair-value), not an opinion or recommendation.