Moody's Corp (MCO) is overvalued and Nasdaq Inc (NDAQ) is overvalued.
Both trade above our estimate of their intrinsic value. NDAQ is the closer of the two: -57%, against -63% for MCO.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.7% (average of 3 methods) values the shares at $287.91; the price of $469.25 is 63% above that value, and 71% of that value comes from beyond year five.
Leak Score 65/100 on 10 of 12 signals
Discounting its cash flows at 9.3% (average of 3 methods) values the shares at $60.32; the price of $94.50 is 57% above that value, and 75% of that value comes from beyond year five.
Leak Score 58/100 on 10 of 12 signals
| Metric | MCO | NDAQ |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $469.25 | $94.50 |
| Intrinsic value | $287.91 | $60.32 |
| Margin of safety | -63% | -57% |
| Leak Score | 65/100 (10/12) | 58/100 (10/12) |
| Market cap | $81.3B | $52.8B |
| Revenue growth, 5 years | 7.5% | 8.0% |
| Operating margin | 46.0% | 30.8% |
| Net margin | 34.3% | 22.6% |
| Return on equity | 80.2% | 16.5% |
| Debt to equity | 2.49 | 0.78 |
| P/E | 29.8x | 27.5x |
| Forward P/E | 24.8x | 20.2x |
| P/B | 26.9x | 4.4x |
| Dividend yield | 0.8% | 1.3% |