Tradeweb Markets Inc

TW · NASDAQ · Financial Services / Capital Markets

132.74USD+1.10 (+0.84%)

Price History

Full chart

Market Stats

Previous Close131.64

Open132.39

Day Range131.82 – 133.59

52-Week Range91.30 – 127.35

Volume1.28M

Market Cap21.86B

P/E (TTM)24.15

Forward P/E25.97

EPS4.19

Dividend Yield0.55%

Beta0.63

50-Day Avg103.41

200-Day Avg108.41

About

Tradeweb Markets Inc. builds and operates electronic marketplaces in the United States and internationally. The company offers marketplaces that facilitate trading products across various asset classes, including rates, credit, equities, and money markets. It also provides pre-trade data and analytics, such as AI-Price, SNAP+, iNAV for ETFs, integrations, and LSEG market data; and trade execution comprising request-for-quote, request-for-market, request-for-stream, list trading, compression, blast all-to-all, click-to-trade, portfolio trading, session-based, central limit order book, bilateral firm streams, inventory-based, rematch, voice, futures vs. cash spreading, and dealer algorithmic suite. In addition, the company offers trade processing; and post-trade data, analytics, and reporting, which include transaction cost analysis, benchmark prices, and APA. It serves institutional, wholesale, retail, and corporate clients, such as asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, regional dealers, and corporations. The company was founded in 1996 and is headquartered in New York, New York. Tradeweb Markets Inc. is a subsidiary of Refinitiv Parent Limited.

Company Details

SectorFinancial Services
IndustryCapital Markets
CEOMr. William E. Hult
Employees1.61K
Headquarters245 Park Avenue, New York, NY, United States, 10167, USA
Websitehttps://www.tradeweb.com

Leadership

Mr. William E. HultCEO & Director · b. 1970
Ms. Sara Hassan FurberChief Financial Officer · b. 1976
Mr. Justin Peterson Ph.D.Chief Technology Officer · b. 1963
Mr. Enrico BruniManaging Director & Co-Head of Global Markets · b. 1971
Mr. Troy DixonManaging Director & Co-Head of Global Markets · b. 1972
Ms. Amy ClackChief Administrative Officer & Chief Risk Officer · b. 1971
Mr. Ashley Neil Serrao C.F.A., C.M.A.MD, Head of Treasury, FP&A & Investor Relations
Mr. Douglas Friedman J.D.Chief Legal Officer, General Counsel & Secretary · b. 1970
Ms. Devi ShanmughamGlobal Head of Compliance
Li Renn TsaiMD and Head of Product & Sales

Financials

Income Statement

Currency: USD	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: USD	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Revenue	624.58M	700.19M	710.48M	709.62M	702.00M	737.42M	1.27B	1.49B	1.76B	1.68B	2.39B	3.26B	3.42B	3.60B	3.48B	3.64B	492.18M	504.45M	657.58M	775.57M	892.66M	1.08B	1.19B	1.34B	1.73B	2.05B
Growth (%)	-	+12.11%	+1.47%	-0.12%	-1.07%	+5.04%	+72.47%	+16.88%	+18.40%	-4.77%	+42.47%	+36.50%	+4.86%	+5.24%	-3.19%	+4.68%	-86.50%	+2.49%	+30.36%	+17.94%	+15.10%	+20.59%	+10.44%	+12.57%	+28.97%	+18.92%
Cost of Revenue	514.18M	536.22M	562.71M	552.85M	549.49M	561.81M	947.35M	1.09B	1.28B	1.22B	1.81B	2.43B	2.49B	2.59B	2.49B	2.57B	228.58M	248.96M	289.49M	329.46M	349.66M	407.26M	432.42M	460.31M	592.69M	670.83M
Gross Profit	110.40M	163.97M	147.77M	156.76M	152.51M	175.61M	324.46M	396.18M	475.87M	460.08M	574.11M	828.29M	927.75M	1.01B	987.82M	1.08B	263.60M	255.49M	368.09M	446.11M	543.00M	669.19M	756.36M	877.91M	1.13B	1.38B
Gross Margin	17.68%	23.42%	20.80%	22.09%	21.73%	23.81%	25.51%	26.65%	27.04%	27.45%	24.04%	25.41%	27.15%	28.04%	28.37%	29.62%	53.56%	50.65%	55.98%	57.52%	60.83%	62.17%	63.62%	65.60%	65.66%	67.32%
Operating Expense	79.62M	91.40M	75.57M	76.91M	80.84M	94.82M	192.04M	216.87M	249.09M	250.70M	322.02M	414.59M	438.74M	506.16M	492.27M	484.19M	170.47M	166.39M	195.82M	256.29M	279.65M	310.36M	343.79M	372.64M	455.23M	536.47M
Operating Income	30.78M	72.57M	72.20M	79.86M	71.67M	80.78M	132.42M	179.31M	226.77M	209.38M	252.09M	413.70M	489.01M	502.36M	495.56M	595.59M	93.13M	89.09M	172.27M	189.82M	263.36M	358.83M	412.57M	505.27M	678.03M	845.12M
Operating Margin	4.93%	10.36%	10.16%	11.25%	10.21%	10.96%	10.41%	12.06%	12.88%	12.49%	10.56%	12.69%	14.31%	13.97%	14.23%	16.34%	18.92%	17.66%	26.20%	24.47%	29.50%	33.33%	34.71%	37.76%	39.28%	41.18%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	174.63M	157.71M	254.10M	362.28M	428.57M	542.88M	617.82M	681.10M	978.68M	1.43B
EBITDA Margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35.48%	31.26%	38.64%	46.71%	48.01%	50.43%	51.97%	50.90%	56.70%	69.53%
Net Income	18.53M	44.44M	47.08M	57.17M	50.59M	52.16M	87.19M	116.28M	155.44M	146.46M	120.60M	194.44M	260.21M	318.81M	359.30M	384.98M	93.16M	83.65M	159.47M	83.77M	166.30M	226.83M	309.34M	364.87M	501.51M	812.79M
Net Income Margin	2.97%	6.35%	6.63%	8.06%	7.21%	7.07%	6.86%	7.82%	8.83%	8.74%	5.05%	5.97%	7.61%	8.86%	10.32%	10.56%	18.93%	16.58%	24.25%	10.80%	18.63%	21.07%	26.02%	27.27%	29.06%	39.60%
R&D	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26.82M	25.42M	25.04M	26.18M	36.10M	47.12M	52.18M	55.81M	72.85M	-
R&D as % of Total Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.45%	5.04%	3.81%	3.38%	4.04%	4.38%	4.39%	4.17%	4.22%	-
Interest Expense	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1.34M	455.00K	0	86.88M	316.00K	1.59M	1.80M	2.05M	4.28M	1.94M
Interest Expense % of Total Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.09%	0.00%	11.20%	0.04%	0.15%	0.15%	0.15%	0.25%	0.09%

Balance Sheet

Currency: USD	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: USD	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Assets	329.96M	387.46M	436.82M	514.46M	512.17M	618.68M	1.24B	1.53B	1.72B	1.63B	4.57B	5.10B	5.36B	5.33B	5.63B	5.39B	1.32B	1.32B	5.00B	5.10B	5.68B	5.99B	6.26B	7.06B	7.27B	8.19B
Total Liabilities	288.25M	267.99M	277.60M	362.73M	266.98M	384.48M	591.60M	742.19M	731.58M	772.68M	2.61B	2.50B	2.90B	2.59B	2.52B	2.45B	283.32M	317.12M	410.63M	502.59M	660.69M	681.24M	713.82M	1.13B	869.11M	1.00B
Total Equity	41.71M	119.47M	159.22M	151.74M	245.18M	234.20M	648.76M	787.52M	984.39M	853.64M	1.96B	2.60B	2.46B	2.74B	3.11B	2.95B	1.02B	986.47M	4.57B	4.59B	5.02B	4.65B	4.95B	5.37B	5.80B	6.51B
Cash	41.41M	81.73M	95.97M	144.37M	156.94M	168.08M	165.34M	248.19M	124.63M	209.83M	600.47M	528.92M	478.18M	532.80M	727.85M	715.15M	325.07M	353.80M	411.30M	460.71M	791.28M	973.05M	1.26B	1.71B	1.34B	2.08B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29.29M	-	-	151.34B	153.81B	24.33M	27.94M	49.08M	35.75M	278.34M
Net Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-295.79M	-353.80M	-411.30M	-429.76M	-756.82M	-948.72M	-1.23B	-1.66B	-1.31B	-1.81B

Cash Flow

Currency: USD	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: USD	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Operating Cash Flow	36.93M	43.18M	51.58M	74.71M	59.49M	68.08M	169.12M	167.11M	283.73M	227.55M	-	541.24M	316.06M	531.31M	456.09M	573.52M	171.84M	224.58M	277.38M	311.00M	443.23M	578.02M	632.82M	746.09M	897.74M	1.17B
Investing Cash Flow	-	-	-	-	-	-	-	-	-	-	489.94M	-	-	-	-	-	-50.56M	-45.55M	-42.10M	-44.46M	-62.54M	-259.11M	-60.10M	-132.76M	-969.19M	-126.53M
Financing Cash Flow	-	36.74M	-	-	-	-	16.86M	27.23M	-	-	-	-	188.79M	-	-	-	-130.52M	-153.46M	-175.35M	-218.14M	-52.69M	-136.10M	-276.70M	-168.17M	-290.26M	-307.48M
Capital Expenditure	20.23M	29.49M	31.56M	17.50M	23.63M	34.71M	38.06M	43.99M	38.69M	39.20M	45.38M	99.35M	158.62M	127.97M	120.82M	135.23M	35.35M	40.62M	42.10M	44.46M	42.54M	51.35M	60.10M	61.76M	40.96M	40.55M
Free Cash Flow	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	136.50M	183.96M	235.29M	266.54M	400.70M	526.67M	572.73M	684.33M	856.78M	1.13B
Dividends Paid	-	-	-	-	-	9.76M	12.67M	12.72M	12.77M	12.79M	15.25M	21.60M	26.45M	48.15M	21.06M	41.80M	130.00M	152.00M	175.35M	155.94M	58.09M	64.57M	66.01M	75.91M	85.23M	102.34M
FCF to OCF	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	79.43%	81.91%	84.82%	85.70%	90.40%	91.12%	90.50%	91.72%	95.44%	96.53%
Dividend Paid to FCF	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95.24%	82.63%	74.53%	58.50%	14.50%	12.26%	11.52%	11.09%	9.95%	9.08%

Earnings

Report Date	Feb 27, 2019	May 9, 2019	Aug 8, 2019	Oct 15, 2019	Feb 12, 2020	Apr 20, 2020	Jul 30, 2020	Oct 28, 2020	Feb 4, 2021	Apr 29, 2021	Jul 29, 2021	Oct 28, 2021	Feb 3, 2022	Apr 28, 2022	Aug 3, 2022	Oct 27, 2022	Feb 2, 2023	Apr 27, 2023	Jul 27, 2023	Oct 25, 2023	Feb 6, 2024	Apr 25, 2024	Jul 25, 2024	Oct 30, 2024	Feb 6, 2025	Apr 30, 2025	Jul 30, 2025	Oct 30, 2025	Feb 5, 2026	Apr 29, 2026	Jul 30, 2026	Oct 29, 2026
EPS Estimate	0.00	0.22	0.23	0.25	0.26	0.35	0.30	0.29	0.34	0.43	0.39	0.39	0.42	0.49	0.46	0.43	0.46	0.54	0.50	0.55	0.63	0.71	0.69	0.76	0.74	0.86	0.86	0.83	0.84	1.06	0.96	0.99
EPS Actual	0.18	0.23	0.25	0.27	0.26	0.37	0.30	0.30	0.34	0.43	0.39	0.39	0.42	0.48	0.47	0.45	0.49	0.54	0.52	0.55	0.64	0.71	0.70	0.75	0.76	0.86	0.87	0.87	0.87	1.08	0.97	-
Surprise	-	4.55%	8.70%	8.00%	0.00%	5.71%	0.00%	3.45%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.04%	2.17%	4.65%	6.52%	0.00%	4.00%	0.00%	1.59%	0.00%	1.45%	-1.32%	2.70%	0.00%	1.16%	4.82%	3.57%	1.89%	1.04%	-
Timing	-	Pre-market	Pre-market	After-hours	Pre-market	After-hours	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	After-hours	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market

Key Statistics & Ratios

Market Cap21.86B

Enterprise Value19.25B

Trailing P/E24.15

Forward P/E25.97

PEG Ratio1.62

Price / Sales9.92

Price / Book3.19

EPS4.19

Book Value31.09

Revenue (TTM)2.20B

Gross Profit (TTM)2.05B

Profit Margin40.70%

Operating Margin43.83%

Return on Equity14.47%

Return on Assets12.48%

Shares Outstanding114.04M

Shares Float113.75M

Beta0.63

Dividend Yield0.55%

Dividend Rate0.56

Payout Ratio14.25%

Analyst Ratings

Buy

Based on 16 analystsTarget 123.64

Strong Buy
6
Buy
5
Hold
4
Sell
1

Ownership Breakdown

Institutions: 106.94%
Insiders: 0.28%
Retail / Other: 0.00%

Top Institutional Holders

T. Rowe Price Associates, Inc.
14.94M7.08%
BlackRock Inc
6.83M3.24%
Wellington Management Company LLP
6.20M2.94%
Vanguard Portfolio Management, LLC
5.61M2.66%
Vanguard Capital Management, LLC
5.19M2.46%
T. Rowe Price Investment Management,Inc.
3.40M1.61%
AQR Capital Management LLC
2.90M1.37%
State Street Corp
2.74M1.30%
Grantham, Mayo, Van Otterloo & Co., LLC
2.65M1.26%
Cantillon Capital Management LLC
2.37M1.12%
Capital World Investors
2.31M1.10%
Carmignac Gestion
2.29M1.08%
Geode Capital Management, LLC
2.12M1.00%
JPMorgan Chase & Co
2.01M0.95%
UBS Group AG
1.93M0.91%

Top Fund Holders

Vanguard MStar Total Stk Mkt Idx Invest
3.69M1.75%
American Funds Growth Fd of Amer A
2.70M1.28%
Vanguard MStar Mid Cap Index Instl
2.51M1.19%
Carmignac Investissement A EUR Acc
2.30M1.09%
T. Rowe Price Mid-Cap Growth
2.06M0.98%

Dividends

20263×

0.14Sep 1, 20260.14Jun 1, 20260.14Mar 2, 2026

20254×

0.12Dec 1, 20250.12Sep 2, 20250.12Jun 2, 20250.12Mar 3, 2025

20244×

0.10Dec 2, 20240.10Sep 3, 20240.10Jun 3, 20240.10Feb 29, 2024

20234×

0.09Nov 30, 20230.09Aug 31, 20230.09May 31, 20230.09Feb 28, 2023

20224×

0.08Nov 30, 20220.08Aug 31, 20220.08May 31, 20220.08Feb 28, 2022

20214×

0.08Nov 30, 20210.08Aug 31, 20210.08May 28, 20210.08Feb 26, 2021

20201×

0.08Nov 30, 2020