Nasdaq, Inc. (NDAQ): The Growth Engine to Multiply Your Investment by 2035

In an era of sluggish equity returns, one company stands out as a beacon of high-growth potential: Nasdaq, Inc. (NDAQ). With its dominant position in financial technology, global market infrastructure, and a pipeline of innovation, Nasdaq could be the rare stock capable of turning a $200,000 investment into over $1 million by 2035. Let’s dissect the data to see why.

Why Nasdaq? The Numbers Tell the Story

The key to Nasdaq’s potential lies in its compound annual growth rate (CAGR). To turn $200,000 into $1 million by 2035—a 400% increase—you need a 14.87% annual return. Nasdaq’s financials and strategic roadmap suggest it could exceed this target.

1. Revenue Growth: A Steady Engine

In Q1 2025, Nasdaq reported $1.2 billion in net revenue, a 11% year-over-year (YoY) increase (12.5% on an adjusted basis). Its SaaS (Software-as-a-Service) revenue grew 14% YoY, contributing 37% of total recurring revenue. This segment is critical: SaaS margins are typically high, and Nasdaq’s cloud-based financial tools (e.g., Verafin’s AI-driven compliance software) are in high demand.

2. Profitability: Margin Expansion in Action

Nasdaq’s non-GAAP diluted EPS rose 24% YoY to $0.79 in Q1 2025, while GAAP EPS surged 69% to $0.68. This outperformance stems from cost discipline: the company is on track to save $140 million in expenses by 2026, with a $1 billion cloud infrastructure partnership with AWS driving operational efficiency.

3. Strategic Initiatives: Building for the Future

• Global Expansion: Nasdaq’s 24/5 trading initiative (launching by late 2026) will attract Asian investors, boosting volume. It also partnered with Mexico’s Grupo BMV and South Africa’s JSE to modernize their trading platforms.
• AI Integration: Nasdaq’s AI tools, like Verafin’s Co-Pilot, saw 20% sequential usage growth in Q1 2025, reducing compliance costs for clients.
• Cross-Selling Power: Since acquiring Adenza in 2023, Nasdaq has secured 19 cross-sell wins, contributing 15% of the sales pipeline. Its goal: $100 million in annualized cross-sell revenue by 2027.

Valuation: A Discounted Gem

While Nasdaq’s stock has risen 15% YTD 2025, its valuation remains below historical highs. As of March 2024, the SaaS Capital Index (SCI)—which Nasdaq influences—had a median valuation of 6.8x ARR, down 60% from 2021 peaks. Nasdaq’s own SaaS multiples align with this discount, even as its growth (14% SaaS revenue) outpaces peers.

The 2025–2035 Case for 14.87%+ Returns

1. Revenue Compound Growth:
2. At a conservative 10% annual revenue growth, Nasdaq’s revenue could grow from $4.8 billion (2024) to $12.4 billion by 2035.

3. SaaS revenue alone, growing at 14%+ annually, could hit $10 billion+ by 2035, driven by demand for AI compliance tools and institutional index products.

4. Margin Expansion:

5. Nasdaq’s operating margin rose to 56.8% in Q1 2025, up from 52% in 2022. If margins hit 60% by 2035, EPS could grow at 20%+ annually, far surpassing the 14.87% threshold.

6. Market Leadership:

7. Nasdaq processes 425 billion messages daily, a scale that deters competitors. Its 82% win rate in U.S. IPO listings since 2023 ensures steady fee income.

Risks to Consider

• Regulatory Scrutiny: Antitrust concerns could limit its cross-selling strategy.
• Economic Downturns: Equity trading volumes often fall during recessions, though Nasdaq’s recurring revenue model buffers against this.
• SaaS Competition: Players like CoreWeave or SailPoint (both Nasdaq-listed) could erode margins if Nasdaq falters in innovation.

Conclusion: Nasdaq’s Path to $1 Million

The math is clear: At 14.87% annual returns, a $200,000 investment in Nasdaq would grow to $1,047,000 by 2035. Nasdaq’s 14% SaaS growth, 24% EPS expansion in Q1 2025, and $663 million in Q1 free cash flow provide the fuel.

Historically, only 15% of 10-year periods since 1930 delivered such returns—but Nasdaq’s structural advantages (global market dominance, AI-driven tools, recurring revenue) make it a rare exception. Pair this with its undervalued SaaS multiples and you have a recipe for outsized gains.

Investors should note: Nasdaq isn’t a get-rich-quick stock. It requires patience, as its growth is organic and steady. But for those willing to ride the wave of financial technology and global capital markets, Nasdaq could be the one stock to power a $1 million milestone by 2035.

Final Note: Always conduct further research and consult a financial advisor before making investment decisions. Nasdaq’s success hinges on execution of its strategic plans and global macroeconomic conditions.