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Side-by-side financial comparison of Nasdaq, Inc. (NDAQ) and VEON Ltd. (VEON). Click either name above to swap in a different company.
Nasdaq, Inc. is the larger business by last-quarter revenue ($2.1B vs $1.1B, roughly 2.0× VEON Ltd.). VEON Ltd. runs the higher net margin — 55.9% vs 24.3%, a 31.6% gap on every dollar of revenue. On growth, VEON Ltd. posted the faster year-over-year revenue change (5.8% vs 2.0%).
Nasdaq Stock Market is an American stock exchange, the second-largest by market cap on the list of stock exchanges, and the first fully electronic stock market. The exchange is based in Manhattan, New York City, and is among the most active stock trading venue by volume in the United States.
VEON Ltd., also known as VEON Group, is a multinational telecommunication and digital services company. Headquartered in Dubai, the company is publicly traded on the U.S.-based NASDAQ stock exchange. VEON operates in six markets in Europe and Asia, including Bangladesh, Kazakhstan, Kyrgyzstan, Pakistan, Ukraine and Uzbekistan. Specific brands include Banglalink in Bangladesh, Jazz in Pakistan, Kyivstar in Ukraine, and units operating in Kazakhstan, Kyrgyzstan, and Uzbekistan under the Beeline...
NDAQ vs VEON — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.1B |
| Net Profit | $519.0M | $608.0M |
| Gross Margin | — | — |
| Operating Margin | 30.7% | 75.4% |
| Net Margin | 24.3% | 55.9% |
| Revenue YoY | 2.0% | 5.8% |
| Net Profit YoY | 31.4% | 583.1% |
| EPS (diluted) | $0.91 | $0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.8B | $1.0B |
| Q1 26 | $519.0M | — | ||
| Q4 25 | $518.0M | — | ||
| Q3 25 | $423.0M | — | ||
| Q2 25 | $452.0M | $608.0M | ||
| Q1 25 | $395.0M | — | ||
| Q4 24 | $355.0M | — | ||
| Q3 24 | $306.0M | — | ||
| Q2 24 | $222.0M | $89.0M |
| Q1 26 | — | — | ||
| Q4 25 | 65.5% | — | ||
| Q3 25 | 67.2% | — | ||
| Q2 25 | 62.5% | — | ||
| Q1 25 | 59.2% | — | ||
| Q4 24 | 60.4% | — | ||
| Q3 24 | 60.3% | — | ||
| Q2 24 | 64.7% | — |
| Q1 26 | 30.7% | — | ||
| Q4 25 | 29.7% | — | ||
| Q3 25 | 29.9% | — | ||
| Q2 25 | 27.2% | 75.4% | ||
| Q1 25 | 26.2% | — | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 23.6% | — | ||
| Q2 24 | 23.6% | 27.1% |
| Q1 26 | 24.3% | — | ||
| Q4 25 | 24.4% | — | ||
| Q3 25 | 21.6% | — | ||
| Q2 25 | 21.6% | 55.9% | ||
| Q1 25 | 18.9% | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 12.4% | 8.7% |
| Q1 26 | $0.91 | — | ||
| Q4 25 | $0.90 | — | ||
| Q3 25 | $0.73 | — | ||
| Q2 25 | $0.78 | $0.34 | ||
| Q1 25 | $0.68 | — | ||
| Q4 24 | $0.62 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $0.38 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $515.0M | $1.3B |
| Total DebtLower is stronger | $9.0B | — |
| Stockholders' EquityBook value | $12.0B | $1.5B |
| Total Assets | $27.3B | $8.5B |
| Debt / EquityLower = less leverage | 0.74× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $515.0M | — | ||
| Q4 25 | $604.0M | — | ||
| Q3 25 | $470.0M | — | ||
| Q2 25 | $732.0M | $1.3B | ||
| Q1 25 | $690.0M | — | ||
| Q4 24 | $592.0M | — | ||
| Q3 24 | $266.0M | — | ||
| Q2 24 | $416.0M | $862.0M |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.6B | — | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $9.1B | — | ||
| Q3 24 | $9.4B | — | ||
| Q2 24 | $9.2B | — |
| Q1 26 | $12.0B | — | ||
| Q4 25 | $12.2B | — | ||
| Q3 25 | $12.0B | — | ||
| Q2 25 | $11.8B | $1.5B | ||
| Q1 25 | $11.5B | — | ||
| Q4 24 | $11.2B | — | ||
| Q3 24 | $11.1B | — | ||
| Q2 24 | $10.9B | $1.1B |
| Q1 26 | $27.3B | — | ||
| Q4 25 | $31.1B | — | ||
| Q3 25 | $30.7B | — | ||
| Q2 25 | $30.4B | $8.5B | ||
| Q1 25 | $30.6B | — | ||
| Q4 24 | $30.4B | — | ||
| Q3 24 | $30.6B | — | ||
| Q2 24 | $30.2B | $7.3B |
| Q1 26 | 0.74× | — | ||
| Q4 25 | 0.70× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.77× | — | ||
| Q4 24 | 0.81× | — | ||
| Q3 24 | 0.85× | — | ||
| Q2 24 | 0.85× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NDAQ
| Market Services | $1.0B | 49% |
| Capital Access Platforms | $565.0M | 26% |
| Financial Technology | $517.0M | 24% |
| Other Revenues | $8.0M | 0% |
VEON
Segment breakdown not available.
