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Tradeweb reported second-highest quarterly revenue of $585 million, up 14.9% year-over-year, and adjusted EBITDA margin of 54.5%; it entered a definitive agreement to acquire TrueMid.
Tradeweb Markets Inc. reported third-quarter revenue of $584,545 thousand, up 14.9%, and net income attributable to it of $197,457 thousand, up 6.4%. Tradeweb Markets LLC entered an October 19, 2026 agreement to acquire Trumid Holdings, LLC.
Tradeweb Markets Inc. reported $584.5 million quarterly revenue for the quarter ended September 30, 2026, up 14.9%, and agreed to acquire Trumid Holdings, LLC for approximately $1.97 billion, targeted to close in the first half 2027.
Tradeweb Markets Inc.'s subsidiary entered an agreement on October 19, 2026, to acquire Trumid Holdings, LLC for $1.970 billion, consisting of $1.888 billion cash and $82.0 million equity, targeting closing in the first half of 2027.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Tradeweb reported second-highest quarterly revenue in its history at $558.9 million, up 9.0% YoY, with international revenue up 13.9%, and maintained full-year 2026 adjusted expense guidance trending toward the top half of the range while expecting more muted margin expansion as it invests in growth.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted Diluted EPS non-GAAP | $2.05 | Six Months Ended June 30, 2026 | — |
| Adjusted diluted weighted average shares outstanding non-GAAP | 235,903,409 | Three Months Ended June 30, 2026 | — |
| Adjusted EBIT non-GAAP | 282.55M | three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationAdjusted EBITDA 304.14M (non-GAAP)
-61.49M Depreciation and amortization
+39.9M D&A related to acquisitions and the Refinitiv Transaction
= Adjusted EBIT 282.55M
|
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| Adjusted EBIT margin non-GAAP | 50.6% | Q2 2026 | — |
| Adjusted EBITDA non-GAAP | 304.1M | Q2 2026 | — |
| Adjusted EBITDA margin non-GAAP | 54.4% | Three Months Ended June 30, 2026 | — |
| Adjusted Expenses non-GAAP | $575.28M | Six Months Ended June 30, 2026 | — |
| Adjusted Net Income non-GAAP | $483.28M | Six Months Ended June 30, 2026 | — |
| ADV | 3T | Q2 2026 | — |
| Aggregate value of Class A common stock withheld from employee stock option, PRSU, PSU and RSU a | $150,000 | the three months ended June 30, 2026 filing | — |
| Average Daily Volume - Credit ADV | $42.75B | 2026 Q2 | — |
| Average Daily Volume - Equities ADV | $32.32B | 2026 Q2 | — |
| Average Daily Volume - Money Markets ADV | $1.16T | 2026 Q2 | — |
| Average Daily Volume - Rates Cash ADV | $595.66B | 2026 Q2 | — |
| Average Daily Volume - Rates Derivatives ADV | $1.18T | 2026 Q2 | — |
| Average Price Paid per Share | $99.01 | three months ended June 30, 2026 filing | — |
| Average price per share acquired under the 2022 Share Repurchase Program | $104.01 | the three months ended June 30, 2026 filing | — |
| Average price per share acquired under the 2026 Share Repurchase Program | $98.35 | the three months ended June 30, 2026 filing | — |
| Average price per share withheld from employee stock option, PRSU, PSU and RSU awards | $100.34 | the three months ended June 30, 2026 filing | — |
| Average Variable Fees per Million Dollars of Volume - Total | $2.14 | Three Months Ended June 30, 2026 | — |
| Average Variable Fees per Million Dollars of Volume - Total excluding Other Rates Derivatives | $2.53 | Three Months Ended June 30, 2026 | — |
| Cash Credit ADV | $13.93B | the three months ended June 30, 2026 filing | — |
| Cash Credit Volume | $863.71B | the three months ended June 30, 2026 filing | — |
| cash dividend | $0.14 | third quarter of 2026 filing | — |
| Class A common stock acquired under the 2022 Share Repurchase Program | 223,407 | the three months ended June 30, 2026 filing | — |
| Class A common stock acquired under the 2026 Share Repurchase Program | 1,684,901 | the three months ended June 30, 2026 filing | — |
| Class A common stock withheld from employee stock option, PRSU, PSU and RSU awards | 1,499 | the three months ended June 30, 2026 filing | — |
| Credit Derivatives, China Bonds and U.S. Cash EP ADV | $28.82B | the three months ended June 30, 2026 filing | — |
| Credit Derivatives, China Bonds and U.S. Cash EP Volume | $1.78T | the three months ended June 30, 2026 filing | — |
| Credit Volume | $2.65T | the three months ended June 30, 2026 filing | — |
| Equities Cash ADV | $16B | the three months ended June 30, 2026 filing | — |
| Equities Cash Volume | $991.75B | the three months ended June 30, 2026 filing | — |
| Equities Volume | $2T | the three months ended June 30, 2026 filing | — |
| Excise tax associated with share repurchases | 1.4M | the three months ended June 30, 2026 filing | — |
| Free cash flow non-GAAP | $1.1B | trailing twelve months ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Cash flow from operating activities 1.2B
-69.19M Less: Capitalization of software development costs
-51.37M Less: Purchases of furniture, equipment and leasehold improvements
= Free Cash Flow 1.08B
|
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| Money Markets Volume | $79.54T | the three months ended June 30, 2026 filing | — |
| Other Rates Derivatives ADV | $543.1B | the three months ended June 30, 2026 filing | — |
| Other Rates Derivatives Volume | $33.63T | the three months ended June 30, 2026 filing | — |
| PFWs exercised | 3M | the three months ended June 30, 2026 filing | — |
| Purchases under the 2022 Share Repurchase Program | 23.2M | the three months ended June 30, 2026 filing | — |
| Purchases under the 2026 Share Repurchase Program | 165.7M | the three months ended June 30, 2026 filing | — |
| Rates ADV | $1.78T | the three months ended June 30, 2026 filing | — |
| Rates Cash Volume | $36.93T | the three months ended June 30, 2026 filing | — |
| Rates Derivatives Volume | $73.08T | the three months ended June 30, 2026 filing | — |
| Rates Volume | $110.01T | the three months ended June 30, 2026 filing | — |
| Swaps / Swaptions Tenor (≥ 1 year) ADV | $637.21B | the three months ended June 30, 2026 filing | — |
| Swaps / Swaptions Tenor (≥ 1 year) Volume | $39.45T | the three months ended June 30, 2026 filing | — |
| Total Number of Shares Purchased | 1,908,308 | three months ended June 30, 2026 filing | — |
| Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | 1,908,308 | three months ended June 30, 2026 filing | — |
| Total Volume | $194.2T | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
TW
this stock
Tradeweb Markets Inc.
|
$30.81B | +23.4% | +15.1% | 31.1 | 1.6% |
|
MS
Morgan Stanley
|
$297.99B | +7.4% | +5.5% | 15.1 | 1.0% |
|
GS
Goldman Sachs Group Inc
|
$264.37B | +4.3% | +8.9% | 13.2 | 2.2% |
|
SCHW
Schwab Charles Corp
|
$160.48B | -6.9% | +22.0% | 15.9 | 1.1% |
|
HOOD
Robinhood Markets, Inc.
|
$70.11B | -31.2% | +51.6% | 36.1 | 3.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Tradeweb Markets Inc. reported $584.5 million quarterly revenue for the quarter ended September 30, 2026, up 14.9%, and agreed to acquire Trumid Holdings, LLC for approximately $1.97 billion, targeted to close in the first half 2027.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| TW | +3.9% | +17.0% | +29.8% | +8.3% | +23.4% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +1.3% | +18.1% | +29.3% | +8.5% | +12.8% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
