Tradeweb Markets Inc.
NASDAQ•TW
CEO: Mr. William E. Hult
Sector: Financial Services
Industry: Financial - Capital Markets
Listing Date: 2019-04-04
Tradeweb Markets Inc., together with its subsidiaries, builds and operates electronic marketplaces worldwide. The company's marketplaces facilitate trading in a range of asset classes, including rates, credit, money markets, and equities. It offers pre-trade data and analytics, trade execution, and trade processing, as well as post-trade data, analytics, and reporting services. The company provides flexible order and trading systems to institutional investors. It also offers a range of electronic, voice, and hybrid platforms to dealers and financial institutions on electronic or hybrid markets with Dealerweb platform; and trading solutions for financial advisory firms and traders with Tradeweb Direct platform. The company serves in the institutional, wholesale, and retail client sectors. Its customers include asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, and regional dealers. The company was founded in 1996 and is headquartered in New York, New York. Tradeweb Markets Inc. operates as a subsidiary of Refinitiv Parent Limited.
Contact Information
Market Cap
$26.70B
P/E (TTM)
32.9
42.1
Dividend Yield
0.4%
52W High
$152.65
52W Low
$97.06
52W Range
Rank23Top 9.4%
5.8
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Average • 5.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2025
Financial Dashboard
Q4 2025 Data
Revenue
$521.18M+0.00%
4-Quarter Trend
EPS
$1.52+0.00%
4-Quarter Trend
FCF
$336.54M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Revenue Growth Strong 18.9% Total revenue reached $2.05B USD, increasing 18.9% driven by transaction fees and commissions across asset classes.
Shareholder Net Income Jumps Net income attributable to shareholders was $812.8M USD, showing a substantial 62.1% increase from prior period results.
Operating Income Up 23.2% Operating income reached $835.3M USD, growing 23.2% due to strong organic growth and recent acquisitions integration.
Canton Coin Value Rises Digital assets, primarily Canton Coins earned via validation services, held fair value of $242.7M USD by year-end 2025.
Risk Factors
Market Dynamics Reduce Volumes Economic, political, and geopolitical factors may cause substantial declines in trading volumes and overall profitability for the business.
Technology Costs Increasing Rapidly Technology and communications expenses increased 30.2% to $128.3M USD, driven by necessary investments in data strategy and infrastructure.
Reliance On Dealer Liquidity Business performance depends on dealer clients for liquidity; no long-term contractual arrangements exist with certain key clients.
Regulatory Landscape Evolving Evolving legal and regulatory requirements, especially concerning digital assets, create uncertainty and ongoing compliance costs.
Outlook
Strategic Investment In Technology Plan continued strategic investment in technology, AI, and blockchain to enhance platform capabilities and innovation speed.
Dividend Policy Increased Payout Intend to pay quarterly cash dividend of $0.14 per share, representing a 16.7% increase from the 2025 rate.
Expect Higher Capital Expenditures Expect 2026 capital expenditures between $107M and $117M USD, driven by platform enhancements and cyber security initiatives.
Expand Product Set Reach Continue expanding offerings across asset classes and geographies, leveraging recent acquisitions like ICD for broader client workflow solutions.
Peer Comparison
Revenue (TTM)
$29.31B
$16.99B
$15.88B
Gross Margin (Latest Quarter)
223.7%
100.0%
100.0%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| RJF | $30.36B | 14.4 | 16.9% | 5.2% |
| TW | $26.70B | 32.9 | 13.1% | 3.4% |
| CFG | $25.63B | 14.1 | 7.2% | 5.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
0.7%
Moderate Growth
4Q Net Income CAGR
29.9%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow
Deep Research
Next earnings:Apr 28, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
|---|
No Data