8-K Announcements
6Apr 29, 2026·SEC
Feb 5, 2026·SEC
Jan 6, 2026·SEC
Tradeweb Markets Inc. (TW) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Tradeweb Markets Inc. (TW) stock price & volume — 10-year historical chart
Tradeweb Markets Inc. (TW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Tradeweb Markets Inc. (TW) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $1.08vs $1.06+1.9% | $618Mvs $617M+0.1% |
| Q1 2026 | Feb 5, 2026 | $0.87vs $0.85+2.6% | $521Mvs $517M+0.8% |
| Q4 2025 | Oct 30, 2025 | $0.87vs $0.83+4.9% | $509Mvs $508M+0.2% |
| Q3 2025 | Jul 30, 2025 | $0.87vs $0.86+1.2% | $513Mvs $514M-0.3% |
Tradeweb Markets Inc. (TW) competitors in Exchanges and Electronic Trading Venues — business model, growth, and fundamentals comparison
Tradeweb Markets Inc. (TW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Tradeweb Markets Inc. (TW) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 230K | 2.51M | 2.37M | 0 | 0 | 11.91M | 65.35M | 69.76M | 66.47M | 70.03M |
| NII Growth % | 133.09% | 992.61% | -5.57% | -100% | - | - | 448.84% | 6.75% | -4.72% | 58.89% |
| Net Interest Margin % | 0.02% | 0.05% | 0.05% | 0% | 0% | 0.19% | 0.93% | 0.96% | 0.81% | 0.84% |
| Interest Income | 685K | 2.51M | 2.37M | 0 | 0 | 13.71M | 67.4M | 74.04M | 68.41M | 72.01M |
| Interest Expense | 455K | 0 | 0 | 0 | 0 | 1.8M | 2.05M | 4.28M | 1.94M | 1.98M |
| Loan Loss Provision | 248.51M | 289.49M | 329.46M | 349.66M | 407.26M | 430.62M | 458.26M | 588.41M | 668.89M | 689.77M |
| Non-Interest Income | 503.76M | 655.07M | 773.19M | 892.66M | 1.08B | 1.18B | 1.27B | 1.65B | 1.98B | 2.09B |
| Non-Interest Income % | 99.86% | 99.62% | 99.69% | 100% | 100% | 98.85% | 94.96% | 95.71% | 96.67% | 96.67% |
| Total Revenue | 504.45M▲ 0% | 657.58M▲ 30.4% | 775.57M▲ 17.9% | 892.66M▲ 15.1% | 1.08B▲ 20.6% | 1.19B▲ 10.4% | 1.34B▲ 12.6% | 1.73B▲ 29.0% | 2.05B▲ 18.9% | 2.16B▲ 0% |
| Revenue Growth % | 2.49% | 30.36% | 17.94% | 15.1% | 20.59% | 10.44% | 12.57% | 28.97% | 18.92% | 73.66% |
| Non-Interest Expense | 166.39M | 195.82M | 256.29M | 279.65M | 310.36M | 343.79M | 372.64M | 455.23M | 536.47M | 540.49M |
| Efficiency Ratio | 32.99% | 29.78% | 33.05% | 31.33% | 28.83% | 28.92% | 27.85% | 26.38% | 26.14% | 25.02% |
| Operating Income | 89.09M▲ 0% | 172.27M▲ 93.4% | 189.82M▲ 10.2% | 263.36M▲ 38.7% | 358.83M▲ 36.3% | 412.57M▲ 15.0% | 505.27M▲ 22.5% | 678.03M▲ 34.2% | 845.12M▲ 24.6% | 928.28M▲ 0% |
| Operating Margin % | 17.66% | 26.2% | 24.47% | 29.5% | 33.33% | 34.71% | 37.76% | 39.28% | 41.18% | 42.97% |
| Operating Income Growth % | -4.34% | 93.36% | 10.19% | 38.74% | 36.25% | 14.98% | 22.47% | 34.19% | 24.64% | - |
| Pretax Income | 89.78M▲ 0% | 174.78M▲ 94.7% | 225.33M▲ 28.9% | 274.46M▲ 21.8% | 369.98M▲ 34.8% | 437.13M▲ 18.1% | 547.98M▲ 25.4% | 754.4M▲ 37.7% | 1.17B▲ 55.7% | 1.26B▲ 0% |
| Pretax Margin % | 17.8% | 26.58% | 29.05% | 30.75% | 34.37% | 36.77% | 40.95% | 43.71% | 57.25% | 58.15% |
| Income Tax | 6.13M | 15.31M | 52.3M | 56.07M | 96.88M | 77.52M | 128.48M | 184.44M | 253.47M | 269.95M |
| Effective Tax Rate % | 6.83% | 8.76% | 23.21% | 20.43% | 26.18% | 17.73% | 23.45% | 24.45% | 21.57% | 21.49% |
| Net Income | 83.65M▲ 0% | 159.47M▲ 90.6% | 83.77M▼ 47.5% | 166.3M▲ 98.5% | 226.83M▲ 36.4% | 309.34M▲ 36.4% | 364.87M▲ 18.0% | 501.51M▲ 37.4% | 812.79M▲ 62.1% | 869.69M▲ 0% |
| Net Margin % | 16.58% | 24.25% | 10.8% | 18.63% | 21.07% | 26.02% | 27.27% | 29.06% | 39.6% | 40.25% |
| Net Income Growth % | -10.21% | 90.64% | -47.47% | 98.52% | 36.4% | 36.38% | 17.95% | 37.45% | 62.07% | 66.05% |
| Net Income (Continuing) | 83.65M | 159.47M | 173.02M | 218.39M | 273.11M | 359.61M | 419.5M | 569.96M | 921.5M | 986.36M |
| EPS (Diluted) | 0.37▲ 0% | 1.29▲ 248.6% | 1.11▼ 14.0% | 0.88▼ 20.7% | 1.09▲ 23.9% | 1.48▲ 35.8% | 1.71▲ 15.5% | 2.34▲ 36.8% | 3.78▲ 61.5% | 4.08▲ 0% |
| EPS Growth % | -9.76% | 248.65% | -13.95% | -20.72% | 23.86% | 35.78% | 15.54% | 36.84% | 61.54% | 66.26% |
| EPS (Basic) | 0.37 | 1.29 | 1.17 | 0.92 | 1.13 | 1.50 | 1.73 | 2.36 | 3.81 | - |
| Diluted Shares Outstanding | 227.28M | 123.38M | 156.54M | 188.22M | 207.25M | 208.4M | 212.67M | 214.93M | 214.9M | 213.32M |
Tradeweb Markets Inc. (TW) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 353.8M | 411.3M | 461.71M | 792.28M | 973.05M | 1.26B | 1.71B | 1.34B | 2.08B | 7.56B |
| Cash & Due from Banks | 353.8M | 411.3M | 461.71M | 792.28M | 973.05M | 1.26B | 1.71B | 1.34B | 2.08B | 1.94B |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 375K | 3.24M | 2.52M | 111K | 3.31M | 20.01M | 9.09M | 25.89M | 292M | 296.16M |
| Investments Growth % | -61.3% | 764.8% | -22.14% | -95.6% | 2884.68% | 503.86% | -54.55% | 184.8% | 1027.66% | 2989.14% |
| Long-Term Investments | 375K | 3.24M | 2.52M | 111K | 3.31M | 20.01M | 9.09M | 25.89M | 292M | 668.84M |
| Accounts Receivables | 73.99M | 261.78M | 123.45M | 105.65M | 129.94M | 154.31M | 549.59M | 290.07M | 257.85M | 482.26M |
| Goodwill & Intangibles | 826.82M | 4.25B | 4.15B | 4.04B | 4.12B | 3.99B | 3.95B | 4.73B | 4.3B | 4.53B |
| Goodwill | 563.42M | 2.69B | 2.69B | 2.69B | 2.78B | 2.78B | 2.82B | 3.15B | 3.15B | 3.15B |
| Intangible Assets | 263.4M | 1.55B | 1.45B | 1.35B | 1.34B | 1.21B | 1.14B | 1.58B | 1.15B | 1.38B |
| PP&E (Net) | 27.03M | 38.13M | 64.91M | 63.25M | 51.56M | 62.35M | 58.77M | 79.52M | 123.06M | 203.84M |
| Other Assets | 18.13M | 25.03M | 27.24M | 82.46M | 76.36M | 56.98M | 61.92M | 89.57M | 0 | 198.48M |
| Total Current Assets | 437.71M | 684.51M | 594.89M | 909.61M | 1.12B | 1.44B | 2.29B | 1.69B | 2.34B | 2.48B |
| Total Non-Current Assets | 879.18M | 4.31B | 4.5B | 4.77B | 4.87B | 4.82B | 4.77B | 5.58B | 5.28B | 5.81B |
| Total Assets | 1.32B▲ 0% | 5B▲ 279.5% | 5.1B▲ 2.0% | 5.68B▲ 11.5% | 5.99B▲ 5.5% | 6.26B▲ 4.5% | 7.06B▲ 12.8% | 7.27B▲ 3.0% | 8.19B▲ 12.7% | 8.3B▲ 0% |
| Asset Growth % | -0.29% | 279.47% | 1.97% | 11.47% | 5.46% | 4.51% | 12.77% | 2.95% | 12.68% | 44.82% |
| Return on Assets (ROA) | 6.34% | 5.05% | 1.66% | 3.09% | 3.89% | 5.05% | 5.48% | 7% | 10.52% | 10.69% |
| Accounts Payable | 31.69M | 213.76M | 63.29M | 42.94M | 38.83M | 63.77M | 409.37M | 163.11M | 187.33M | 282.28M |
| Total Debt | 0 | 0 | 30.95M | 34.46M | 24.33M | 27.94M | 49.08M | 35.75M | 278.34M | 142.83M |
| Net Debt | -353.8M | -411.3M | -430.76M | -757.82M | -948.72M | -1.23B | -1.66B | -1.31B | -1.81B | -1.79B |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 139.17M | 0 |
| Short-Term Debt | 0 | 0 | 8.52M | 11.61M | 0 | 0 | 21.61M | 0 | 0 | 0 |
| Other Liabilities | 0 | 0 | 240.82M | 404.33M | 412.45M | 425.72M | 457.52M | 372.84M | 197.35M | 110.9M |
| Total Current Liabilities | 317.12M | 391M | 217.76M | 214.08M | 223.45M | 238.9M | 622.38M | 417.63M | 474.62M | 681.43M |
| Total Non-Current Liabilities | 0 | 19.63M | 284.83M | 446.61M | 457.79M | 474.92M | 505.75M | 451.48M | 525.7M | 304.68M |
| Total Liabilities | 317.12M | 410.63M | 502.59M | 660.69M | 681.24M | 713.82M | 1.13B | 869.11M | 1B | 986.11M |
| Total Equity | 986.47M▲ 0% | 4.57B▲ 363.5% | 4.59B▲ 0.4% | 5.02B▲ 9.3% | 5.31B▲ 5.8% | 5.55B▲ 4.5% | 5.93B▲ 6.9% | 6.4B▲ 7.9% | 7.19B▲ 12.4% | 7.31B▲ 0% |
| Equity Growth % | -3.74% | 363.51% | 0.45% | 9.28% | 5.77% | 4.47% | 6.94% | 7.88% | 12.35% | 42.67% |
| Equity / Assets (Capital Ratio) | 74.91% | 91.5% | 90.14% | 88.37% | 88.63% | 88.6% | 84.02% | 88.04% | 87.79% | 88.11% |
| Return on Equity (ROE) | 8.32% | 5.74% | 1.83% | 3.46% | 4.39% | 5.7% | 6.36% | 8.13% | 11.96% | 12.35% |
| Book Value per Share | 4.34 | 37.06 | 29.34 | 26.67 | 25.62 | 26.61 | 27.89 | 29.77 | 33.45 | 34.27 |
| Tangible BV per Share | 0.70 | 2.64 | 2.83 | 5.18 | 5.75 | 7.44 | 9.31 | 7.78 | 13.45 | 13.02 |
| Common Stock | 999.74M | 4.57B | 3K | 2K | 2K | 2K | 2K | 2K | 2K | 2K |
| Additional Paid-in Capital | 0 | 0 | 3.33B | 4.14B | 4.4B | 4.58B | 4.74B | 4.81B | 4.9B | 4.89B |
| Retained Earnings | 0 | 0 | 47.83M | 156.04M | 242.62M | 386.63M | 640.38M | 996.76M | 1.6B | 1.73B |
| Accumulated OCI | -13.27M | -866K | 1.37M | 4.31M | 1.6M | -10.11M | -5.39M | -9.98M | 10.9M | 7.93M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tradeweb Markets Inc. (TW) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 224.58M | 277.38M | 311M | 443.23M | 578.02M | 632.82M | 746.09M | 897.74M | 1.17B | 1.17B |
| Operating CF Growth % | 30.69% | 23.51% | 12.12% | 42.52% | 30.41% | 9.48% | 17.9% | 20.33% | 30.06% | 159.08% |
| Net Income | 83.65M | 159.47M | 173.02M | 218.39M | 273.11M | 359.61M | 419.5M | 569.96M | 812.79M | 869.69M |
| Depreciation & Amortization | 68.61M | 81.83M | 139.33M | 153.79M | 171.31M | 178.88M | 185.35M | 220M | 250.19M | 248.2M |
| Deferred Taxes | -950K | 3.57M | -18.11M | 53.76M | 72.66M | 39.21M | 99.41M | 24.58M | 92.32M | 86.47M |
| Other Non-Cash Items | 58.52M | 21.1M | 0 | 0 | 0 | 1M | 13.12M | 1.11M | -175.41M | -166.19M |
| Working Capital Changes | 14.75M | 11.42M | -33.06M | -22M | 9M | -12.52M | -36.43M | -7.57M | 84.22M | 48.59M |
| Cash from Investing | -45.55M | -42.1M | -44.46M | -62.54M | -259.11M | -60.1M | -132.76M | -969.19M | -126.53M | -189.02M |
| Purchase of Investments | -5M | 0 | 0 | -20M | 0 | 0 | -1.29M | 0 | 0 | -88.63M |
| Sale/Maturity of Investments | 27.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Investment Activity | 22.16M | 0 | 0 | -20M | 0 | 0 | -1.29M | 0 | 0 | -88.63M |
| Acquisitions | 66K | 0 | 0 | -20M | -207.76M | 0 | -69.71M | -860.13M | 0 | 0 |
| Other Investing | -27.16M | -26.68M | -28.68M | -11.05M | -34.47M | -36.88M | -43.23M | -68.1M | -85.98M | -36.49M |
| Cash from Financing | -153.46M | -175.35M | -218.14M | -52.69M | -136.1M | -276.7M | -168.17M | -290.26M | -307.48M | -396.59M |
| Dividends Paid | -152M | -175.35M | -155.94M | -58.09M | -64.57M | -66.01M | -75.91M | -85.23M | -102.34M | -106.54M |
| Share Repurchases | -152M | -175.35M | 0 | 0 | -75.68M | -99.32M | -35.2M | -59.05M | -104.17M | -158.3M |
| Stock Issued | 0 | 0 | 1.97B | 626.27M | 0 | 0 | 0 | 0 | 0 | 2.98M |
| Net Stock Activity | -152M | -175.35M | 1.97B | 626.27M | -75.68M | -99.32M | -35.2M | -59.05M | -104.17M | -155.32M |
| Debt Issuance (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -1.46M | 0 | -2.03B | -620.87M | 4.15M | -111.37M | -57.06M | -145.98M | -100.96M | -134.73M |
| Net Change in Cash | 28.72M▲ 0% | 57.51M▲ 100.2% | 50.41M▼ 12.3% | 330.57M▲ 555.8% | 180.77M▼ 45.3% | 285.18M▲ 57.8% | 449.24M▲ 57.5% | -366.17M▼ 181.5% | 744.44M▲ 303.3% | 630.85M▲ 0% |
| Exchange Rate Effect | 3.16M | -2.43M | 2.01M | 2.56M | -2.04M | -10.84M | 4.09M | -4.46M | 10.8M | 5.19M |
| Cash at Beginning | 325.07M | 353.8M | 411.3M | 461.71M | 792.28M | 973.05M | 1.26B | 1.71B | 1.34B | 2.09B |
| Cash at End | 353.8M | 411.3M | 461.71M | 792.28M | 973.05M | 1.26B | 1.71B | 1.34B | 2.09B | 1.94B |
| Interest Paid | 455K | 0 | 0 | 0 | 0 | 1.47M | 1.3M | 2.57M | 0 | 1.21M |
| Income Taxes Paid | 6.31M | 8.16M | 43.84M | 19.11M | 3.88M | 13.2M | 28.64M | 152.01M | 0 | 109.95M |
| Free Cash Flow | 183.96M▲ 0% | 235.29M▲ 27.9% | 266.54M▲ 13.3% | 400.7M▲ 50.3% | 526.67M▲ 31.4% | 572.73M▲ 8.7% | 684.33M▲ 19.5% | 856.78M▲ 25.2% | 1.13B▲ 31.5% | 1.15B▲ 0% |
| FCF Growth % | 34.77% | 27.9% | 13.28% | 50.33% | 31.44% | 8.74% | 19.49% | 25.2% | 31.55% | 35.26% |
Tradeweb Markets Inc. (TW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 8.32% | 5.74% | 1.83% | 3.46% | 4.39% | 5.7% | 6.36% | 8.13% | 11.96% | 12.35% |
| Return on Assets (ROA) | 6.34% | 5.05% | 1.66% | 3.09% | 3.89% | 5.05% | 5.48% | 7% | 10.52% | 10.69% |
| Net Interest Margin | 0.02% | 0.05% | 0.05% | 0% | 0% | 0.19% | 0.93% | 0.96% | 0.81% | 0.84% |
| Efficiency Ratio | 32.99% | 29.78% | 33.05% | 31.33% | 28.83% | 28.92% | 27.85% | 26.38% | 26.14% | 25.02% |
| Equity / Assets | 74.91% | 91.5% | 90.14% | 88.37% | 88.63% | 88.6% | 84.02% | 88.04% | 87.79% | 88.11% |
| Book Value / Share | 4.34 | 37.06 | 29.34 | 26.67 | 25.62 | 26.61 | 27.89 | 29.77 | 33.45 | 34.27 |
| NII Growth | 133.09% | 992.61% | -5.57% | -100% | - | - | 448.84% | 6.75% | -4.72% | 9.98% |
| Dividend Payout | 181.71% | 109.96% | 186.15% | 34.93% | 28.47% | 21.34% | 20.8% | 17% | 12.59% | 12.25% |
Tradeweb Markets Inc. (TW) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Feb 5, 2026·SEC
Jan 6, 2026·SEC
Tradeweb Markets Inc. (TW) stock FAQ — growth, dividends, profitability & financials explained
Tradeweb Markets Inc. (TW) grew revenue by 18.9% over the past year. This is strong growth.
Yes, Tradeweb Markets Inc. (TW) is profitable, generating $869.7M in net income for fiscal year 2025 (39.6% net margin).
Yes, Tradeweb Markets Inc. (TW) pays a dividend with a yield of 0.43%. This makes it attractive for income-focused investors.
Tradeweb Markets Inc. (TW) has a return on equity (ROE) of 12.0%. This is reasonable for most industries.
Tradeweb Markets Inc. (TW) has a net interest margin (NIM) of 0.8%. NIM has been under pressure due to interest rate environment.
Tradeweb Markets Inc. (TW) has an efficiency ratio of 26.1%. This is excellent, indicating strong cost control.
Tradeweb Markets Inc. (TW) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates