Nasdaq advertising spend, FY2025

Nasdaq (NDAQ) reported $65M of advertising expense for the fiscal year ended Dec 31, 2025. That is 0.8% of revenue of $8.3B. Up 20.4% from FY2024.

Ad spend, FY2025
$65M
year ended Dec 31, 2025
Change vs prior year
+20.4%
vs FY2024
Share of revenue
0.8%
of $8.3B revenue
Rank by ad spend
#417
of 458 companies

Key facts

  • Ad spend is 2.3x its FY2015 level ($28M), in line with revenue (2.4x).
  • FY2025 is the highest year on file, going back to FY2008.
  • Largest increase +46.2% in FY2021; largest cut -21.1% in FY2009.
  • Ad spend has risen 2 years in a row.
  • Ad spend is 0.8% of revenue, about the same as 0.7% in FY2020.
  • Nasdaq spends more on advertising than 9% of the 458 US-listed companies tracked. Its ad-to-revenue ratio is below the median of 4.6%.

Ad spend by fiscal year

$0 $20M $40M $60M $80M FY2008 (ended 2008-12-31): $19M FY2009 (ended 2009-12-31): $15M FY2010 (ended 2010-12-31): $20M 2010 FY2011 (ended 2011-12-31): $24M FY2012 (ended 2012-12-31): $26M FY2013 (ended 2013-12-31): $30M 2013 FY2014 (ended 2014-12-31): $32M FY2015 (ended 2015-12-31): $28M FY2016 (ended 2016-12-31): $30M 2016 FY2017 (ended 2017-12-31): $31M FY2018 (ended 2018-12-31): $37M FY2019 (ended 2019-12-31): $39M 2019 FY2020 (ended 2020-12-31): $39M FY2021 (ended 2021-12-31): $57M FY2022 (ended 2022-12-31): $51M 2022 FY2023 (ended 2023-12-31): $47M FY2024 (ended 2024-12-31): $54M FY2025 (ended 2025-12-31): $65M 2025 $65M

Ad spend as % of revenue

0.0% 0.3% 0.5% 0.8% 1.0% FY2008 (ended 2008-12-31): 0.5% FY2009 (ended 2009-12-31): 0.4% FY2010 (ended 2010-12-31): 0.6% 2010 FY2011 (ended 2011-12-31): 0.7% FY2012 (ended 2012-12-31): 0.8% FY2013 (ended 2013-12-31): 0.9% 2013 FY2014 (ended 2014-12-31): 0.9% FY2015 (ended 2015-12-31): 0.8% FY2016 (ended 2016-12-31): 0.8% 2016 FY2017 (ended 2017-12-31): 0.8% FY2018 (ended 2018-12-31): 0.9% FY2019 (ended 2019-12-31): 0.9% 2019 FY2020 (ended 2020-12-31): 0.7% FY2021 (ended 2021-12-31): 1.0% FY2022 (ended 2022-12-31): 0.8% 2022 FY2023 (ended 2023-12-31): 0.8% FY2024 (ended 2024-12-31): 0.7% FY2025 (ended 2025-12-31): 0.8% 2025 0.8%

History

Download CSV
Fiscal year Period end Ad spend YoY Revenue Ad / revenue Tag Filing
FY2025 Dec 31, 2025 $65M +20.4% $8.3B 0.8% MarketingAndAdvertisingExpense 10-K Feb 12, 2026
FY2024 Dec 31, 2024 $54M +14.9% $7.4B 0.7% MarketingAndAdvertisingExpense 10-K Feb 12, 2026
FY2023 Dec 31, 2023 $47M -7.8% $6.1B 0.8% MarketingAndAdvertisingExpense 10-K Feb 12, 2026
FY2022 Dec 31, 2022 $51M -10.5% $6.2B 0.8% MarketingAndAdvertisingExpense 10-K Feb 21, 2025
FY2021 Dec 31, 2021 $57M +46.2% $5.9B 1.0% MarketingAndAdvertisingExpense 10-K Feb 21, 2024
FY2020 Dec 31, 2020 $39M 0.0% $5.6B 0.7% MarketingAndAdvertisingExpense 10-K Feb 23, 2023
FY2019 Dec 31, 2019 $39M +5.4% $4.3B 0.9% MarketingAndAdvertisingExpense 10-K Feb 23, 2022
FY2018 Dec 31, 2018 $37M +19.4% $4.3B 0.9% MarketingAndAdvertisingExpense 10-K Feb 23, 2021
FY2017 Dec 31, 2017 $31M +3.3% $3.9B 0.8% MarketingAndAdvertisingExpense 10-K Feb 25, 2020
FY2016 Dec 31, 2016 $30M +7.1% $3.7B 0.8% MarketingAndAdvertisingExpense 10-K Feb 22, 2019
FY2015 Dec 31, 2015 $28M -12.5% $3.4B 0.8% MarketingAndAdvertisingExpense 10-K Feb 28, 2018
FY2014 Dec 31, 2014 $32M +6.7% $3.5B 0.9% MarketingAndAdvertisingExpense 10-K Mar 1, 2017
FY2013 Dec 31, 2013 $30M +15.4% $3.2B 0.9% MarketingAndAdvertisingExpense 10-K Feb 26, 2016
FY2012 Dec 31, 2012 $26M +8.3% $3.1B 0.8% MarketingAndAdvertisingExpense 10-K Feb 17, 2015
FY2011 Dec 31, 2011 $24M +20.0% $3.4B 0.7% MarketingAndAdvertisingExpense 10-K Feb 24, 2014
FY2010 Dec 31, 2010 $20M +33.3% $3.2B 0.6% MarketingAndAdvertisingExpense 10-K Feb 21, 2013
FY2009 Dec 31, 2009 $15M -21.1% $3.4B 0.4% MarketingAndAdvertisingExpense 10-K Feb 24, 2012
FY2008 Dec 31, 2008 $19M n/a $3.6B 0.5% MarketingAndAdvertisingExpense 10-K Feb 24, 2011

What the figure is

Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.

Compared with similar spenders

The 6 companies closest to Nasdaq in latest-year ad spend.

Rank Company Ad spend Ad / revenue YoY Fiscal year
412 Toro $66.4M 1.5% -4.5% FY2025
413 RPM International $66M 0.8% +15.8% FY2026
414 Central Garden & Pet $65.9M 2.1% +17.3% FY2025
415 Sally Beauty $65.9M 1.8% -3.7% FY2025
416 TransUnion $65.1M 1.4% +6.0% FY2025
417 Nasdaq $65M 0.8% +20.4% FY2025
418 Figure Technology Solutions $63.9M 12.6% +27.5% FY2025

Full ranking of 458 companies · Biggest increases #106 · Lowest ad-to-revenue #42

Questions

How much does Nasdaq spend on advertising?

Nasdaq spent $65M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Feb 12, 2026.

What percentage of revenue does Nasdaq spend on advertising?

0.8% of revenue in fiscal 2025 ($65M of $8.3B). The median across the 458 companies tracked is 4.6%.

Is Nasdaq spending more on advertising?

Yes. Ad spend rose 20.4% in fiscal 2025 from fiscal 2024. It has risen 2 years in a row.

How does Nasdaq rank by advertising spend?

#417 of 458 US-listed companies with $50M or more in ad spend, ranked on each company's latest fiscal year.

What does Nasdaq's advertising figure include?

Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.

Source

Filing
10-K for FY2025, filed Feb 12, 2026
Accession number
0001628280-26-007703
Company
NASDAQ, INC., CIK 1120193, SIC 6200 (Security & Commodity Brokers, Dealers, Exchanges & Services)
Data
SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
Cite
Nasdaq advertising spend, FY2008-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Feb 12, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/nasdaq/advertising-spend/
Download
CSV, all years · CSV, all 458 companies