TW
Tradeweb Markets Inc.
$97.86
+0.74 (+0.76%)
At close · Jul 10
Market Cap
$23.33B
Shares
236,026,021
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$2.05B
+18.9%
FY2025
Net Income
$812.79M
+62.1%
FY2025
Operating Margin
40.7%
+1.4pp
FY2025
Diluted EPS
$3.78
+62.2%
FY2025
Operating Cash Flow
$1.17B
+30.1%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| $2.16B | $2.05B | $1.73B | $1.34B | $1.19B | $1.08B | $892.66M | $775.57M | $504.45M | |
| — | — | — | $65.35M | $11.91M | -$1.59M | -$316K | $2.37M | — | |
| $127.4M | $132.9M | $124.4M | $108.3M | $107.2M | $103.3M | $99.4M | $99.4M | — | |
| $248.2M | $250.19M | $220M | $185.35M | $178.88M | $171.31M | $153.79M | $139.33M | $68.62M | |
| $1.24B | $1.22B | $1.05B | $832.95M | $776.21M | $717.62M | $629.3M | $585.75M | $415.36M | |
| $918.49M | $835.34M | $678.03M | $505.27M | $412.57M | $358.83M | $263.36M | $189.82M | $89.09M | |
| — | 40.7% | 39.28% | 37.76% | 34.71% | 33.33% | 29.5% | 24.47% | 17.66% | |
| $1.17B | $1.09B | $898.03M | $690.62M | $591.45M | $530.14M | $417.14M | $329.15M | $157.71M | |
| $1.98M | $1.94M | $4.28M | $2.05M | $1.81M | — | — | — | — | |
| $2.21M | — | — | — | — | — | — | $2.37M | $685K | |
| $258.01M | $263.38M | -$1.11M | -$13.12M | -$1M | $0 | — | — | — | |
| — | -$500K | $0 | $0 | — | — | — | — | — | |
| $1.26B | $1.17B | $754.4M | $547.98M | $437.13M | $369.98M | $274.46M | $225.33M | $89.78M | |
| $269.95M | $253.47M | $184.44M | $128.48M | $77.52M | $96.88M | $56.07M | $52.3M | $6.13M | |
| $847.95M | $812.79M | $501.51M | $364.87M | $309.34M | $226.83M | $166.3M | $83.77M | $83.65M | |
| — | 39.6% | 29.06% | 27.27% | 26.02% | 21.07% | 18.63% | 10.8% | 16.58% | |
| $116.67M | $108.71M | $68.46M | $54.64M | $50.28M | $46.28M | $52.09M | $46.9M | — | |
| $869.11M | $812.16M | $501.12M | $364.4M | $309.09M | $226.83M | $166.3M | — | — | |
| $879.44M | $833.68M | $496.92M | $369.72M | $297.93M | $224.03M | $169.39M | $85.21M | $86.53M | |
| USD/shares | — | $3.81 | $2.35 | $1.73 | $1.50 | $1.13 | $0.92 | $0.57 | — |
| USD/shares | — | $3.78 | $2.33 | $1.71 | $1.48 | $1.09 | $0.88 | $0.54 | — |
| shares | — | 213.21M | 213.03M | 210.8M | 205.58M | 201.42M | 180.41M | 148.01M | 215.57M |
| shares | — | 214.9M | 214.92M | 212.67M | 208.4M | 207.25M | 188.22M | 156.54M | 215.57M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2019–FY2025: $373.43M in buybacks.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
Capital Markets median 10.42×
EV/EBIT
—
P/E (TTM)
24.41×
Capital Markets median 18.52×
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Reportable Segment | $2,052,429,000 | $1,725,949,000 | $1,338,219,000 | $1,188,781,000 |
By Geography (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| United States | $1,194,062,000 | $1,060,697,000 | $850,338,000 | $760,642,000 | $673,223,000 | $570,064,000 | $497,316,000 |
| Non Us | $858,367,000 | $665,252,000 | $487,881,000 | $428,139,000 | $403,224,000 | $322,595,000 | $278,250,000 |
By Product & Service (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Transaction Fee Revenue | $1,700,427,000 | $1,423,547,000 | $1,078,344,000 | $950,269,000 | $846,354,000 | $681,588,000 | $572,948,000 |
| Subscription Fee Revenue | $234,017,000 | $206,659,000 | $183,972,000 | $165,922,000 | $158,448,000 | $142,358,000 | $138,731,000 |
| Market Data Revenue | $93,197,000 | $82,145,000 | $64,336,000 | $62,721,000 | $61,161,000 | $59,706,000 | $55,635,000 |
| Financial Service Other | $24,788,000 | $13,598,000 | $11,567,000 | $9,869,000 | $10,484,000 | $9,007,000 | $8,252,000 |
Key facts
CIK
1758730
CUSIP
892672106
13F (30d)
34 filings
13 filers
Visit website
Investor relations