Flagship explainer

What drives Nasdaq, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity15%Tax burden83%net income ÷ pretax incomeInterest burden92%pretax ÷ operating incomeOperating margin28%operating income ÷ revenueAsset turnover0.27×revenue ÷ average assetsEquity multiplier2.62×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$1.8BFY2025
Income before tax$2.1BFY2025
Operating income$2.3BFY2025
$8.3BFY2025
Ending assets$31.1BFY2025
Beginning assets$30.4BFY2024
$12.2BFY2025
$11.2BFY2024
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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