# NASDAQ, INC. (NDAQ) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from NASDAQ, INC.'s 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/NDAQ/mda/fy2025/): filed 2026-02-12; accession 0001628280-26-007703 (https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ndaq-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/NDAQ/mda/fy2024/): filed 2025-02-21; accession 0001120193-25-000008 (https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ndaq-20241231.htm)
- [FY 2023 MD&A](/company/NDAQ/mda/fy2023/): filed 2024-02-21; accession 0001120193-24-000006 (https://www.sec.gov/Archives/edgar/data/1120193/000112019324000006/ndaq-20231231.htm)
- [FY 2022 MD&A](/company/NDAQ/mda/fy2022/): filed 2023-02-23; accession 0001120193-23-000014 (https://www.sec.gov/Archives/edgar/data/1120193/000112019323000014/ndaq-20221231.htm)
- [FY 2021 MD&A](/company/NDAQ/mda/fy2021/): filed 2022-02-23; accession 0001120193-22-000007 (https://www.sec.gov/Archives/edgar/data/1120193/000112019322000007/ndaq-20211231.htm)

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