Exchange / Data & Analytics Toll Businesses

Capital-light financial infrastructure and information-services companies that monetize recurring data, analytics, index, rating, listing, and transaction tolls. Revenue is earned from per-contract or per-notional exchange fees, clearing fees, market-data subscriptions, index licensing, ratings issuance and surveillance, listings, workflow software, and value-added risk / security / analytics prod

Each company on its own headline number

TickerCompanyTheir metricPeriodYoYA year ago
FICOFair Isaac CorporationFICO Platform Dollar-Based Net Retention RateFY2026-Q3+33.0 pts-9.0 pts
VRSNVeriSign, Inc.Domain name baseFY2026-Q2+5.0%-0.1%
MCOMoody's CorporationAnnual Recurring RevenueFY2026-Q2+11.5%+6.5%
SPGIS&P Global Inc.Vitality revenue shareFY2025-Q4+1.0 pts-1.0 pts
NDAQNasdaq, Inc.Annual Recurring Revenue (total annualized recurring revenue)FY2026-Q2+11.2%+9.9%
MSCIMSCI Inc.Total run rateFY2026-Q2+12.0%+10.8%
CBOECboe Global Markets, Inc.Total Options Market ShareFY2026-Q2-0.2 pts-1.0 pts
EFXEquifax Inc.New product vitality indexFY2026-Q2+2.0 pts+1.5 pts
FDSFactSet Research Systems Inc.Annual Subscription Value RetentionFY2026-Q3+0.0 pts+0.0 pts
CMECME Group Inc.Average Daily VolumeFY2026-Q2-1.3%+16.6%

Where they use the same metric

  • Non-GAAP Diluted Earnings Per Share — reported by 7 of 22
  • Free cash flow — reported by 4 of 22
  • Adjusted earnings before interest, taxes, depreciation and amortization — reported by 4 of 22
  • Non-GAAP Net Income — reported by 3 of 22
  • Adjusted operating expenses — reported by 3 of 22
  • Adjusted earnings before interest, taxes, depreciation and amortization margin — reported by 3 of 22

A side-by-side appears only when three or more companies report the same metric in the same unit under their own definition. Companies are listed in value order, not ranked: whether a higher number is better is not asserted.

All inflections · Stock screener