NDAQ vs SPGI

Nasdaq, Inc. vs S&P Global Inc. — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — NDAQ scores higher on quality with 7.3/10 vs SPGI's 7.3/10. NDAQ trades at $87.91 while SPGI trades at $417.46. Both analyzed daily using SEC EDGAR data across 13 institutional models.

NDAQ

Financial Data & Stock Exchanges
Nasdaq, Inc.
Quality
7.3
out of 10
Value Trap
41
WARN
Price
$87.91
Last close
Models
12/13
Active
VS

SPGI

Financial Data & Stock Exchanges
S&P Global Inc.
Quality
7.3
out of 10
Value Trap
31
LOW
Price
$417.46
Last close
Models
12/13
Active
NDAQ
2 models active
Value Trap 41/100 — caution
SPGI
2 models active
Limited to 2/13 visible models

NDAQ vs SPGI — Fair Value Comparison

NDAQ
$0$35$69$104 Price$87.91 Bayesian …$54.26 (-38.3%) Earnings …$9.69 (-89.0%)
SPGI
$0$164$328$493 Price$417.46 Bayesian …$110.72 (-73.5%) Earnings …$85.06 (-79.6%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType NDAQ Fair ValueNDAQ Upside SPGI Fair ValueSPGI Upside
Bayesian DCF Intrinsic $54.26 -38.3% $110.72 -73.5%
Earnings Power Value Intrinsic $9.69 -89.0% $85.06 -79.6%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
Markov DDM Intrinsic $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

NDAQ vs SPGI — Which Stock Is More Undervalued in 2026?

NDAQ scores higher with a 7.3/10 quality rating vs SPGI's 7.3/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do NDAQ and SPGI Valuations Compare?

At $87.91, NDAQ trades +38.3% above its Bayesian DCF fair value of $54.26, while SPGI at $417.46 trades +73.5% above its estimate of $110.72. SPGI shows a wider gap between price and intrinsic value.

Quality of Company: NDAQ vs SPGI

NDAQ earns a Quality of Company score of 7.3/10 compared to SPGI's 7.3/10. The scores are closely matched, indicating similar fundamental quality profiles. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: NDAQ vs SPGI

NDAQ carries a WARN value trap risk (41/100) while SPGI shows LOW risk (31/100). Stocks with value trap scores above 40 may appear undervalued but face deteriorating fundamentals — declining margins, rising debt, or shrinking revenue can make the apparent discount a trap.

Both in Financial Data & Stock Exchanges

Both NDAQ and SPGI operate in Financial Data & Stock Exchanges, which has 13 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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