Tradeweb Markets Inc.
TWNasdaq
$99.90
↓ -1.3%Jul 17 close · end-of-day
Price
1Y↓ -26.3%
End-of-day closes; the latest point is the live 15-min-delayed price · split & dividend adjusted · chart by TradingView
Key statistics
Market Cap
$21.3B
Enterprise Value
$19.4B
P/E
24.7
P/S
9.9
P/B
3.2
EV/EBITDA
16.6
PEG
0.7
FCF Yield
5.5%
Dividend Yield
0.5%
Revenue (TTM)
$2.2B
Net Income (TTM)
$869.7M
Free Cash Flow (TTM)
$1.2B
Gross Margin
—
Operating Margin
42.5%
Net Margin
40.3%
ROE
13.1%
ROIC
15.4%
Debt / Equity
—
Net Cash
$1.9B
Return 1Y
-27.3%
Earnings
TW Q1 2026 Earnings
Period ends 2026-03-31
MetricActualYoY
Revenue$617.8M↑ +21.2%
Diluted EPS$0.96↑ +39.1%
Actuals from SEC filings; YoY vs the year-ago quarter. Analyst estimates & surprise require a data feed (coming soon).
Financial statements
| Line item | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $892.7M | $1.1B | $1.2B | $1.3B | $1.7B | $2.1B |
| Gross profit | — | — | — | — | — | — |
| Operating income | $263.4M | $358.8M | $412.6M | $505.3M | $678.0M | $835.3M |
| Net income | $166.3M | $226.8M | $309.3M | $364.9M | $501.5M | $812.8M |
| Diluted EPS | $0.88 | $1.09 | $1.48 | $1.71 | $2.33 | $3.78 |
| Operating cash flow | $443.2M | $578.0M | $632.8M | $746.1M | $897.7M | $1.2B |
| Free cash flow | $431.7M | $561.1M | $609.6M | $727.6M | $856.8M | $1.1B |
| Gross margin | — | — | — | — | — | — |
| Operating margin | 29.5% | 33.3% | 34.7% | 37.8% | 39.3% | 40.7% |
| Net margin | 18.6% | 21.1% | 26.0% | 27.3% | 29.1% | 39.6% |
| Line item | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $405.0M | $448.9M | $463.3M | $509.7M | $513.0M | $508.6M | $521.2M | $617.8M |
| Gross profit | — | — | — | — | — | — | — | — |
| Operating income | $162.5M | $159.3M | $188.5M | $204.1M | $199.9M | $210.4M | $221.0M | $287.3M |
| Net income | $119.2M | $113.9M | $142.2M | $148.4M | $153.8M | $185.6M | $325.0M | $205.3M |
| Diluted EPS | $0.55 | $0.53 | $0.66 | $0.69 | $0.71 | $0.86 | $1.52 | $0.96 |
| Operating cash flow | $285.7M | $292.1M | $282.0M | $60.2M | $409.2M | $342.3M | $355.9M | $103.8M |
| Free cash flow | $280.8M | $287.8M | $256.8M | $58.6M | $403.7M | $328.3M | $336.5M | $94.2M |
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 40.1% | 35.5% | 40.7% | 40.0% | 39.0% | 41.4% | 42.4% | 46.5% |
| Net margin | 29.4% | 25.4% | 30.7% | 29.1% | 30.0% | 36.5% | 62.4% | 33.2% |
Company news
Coming soonHeadlines for TW will appear here once the news feed is connected.
Analyst estimates
Coming soonConsensus revenue & EPS estimates and price targets will appear here once a forward-estimates data feed is connected.
Insider transactions
No insider transactions in the last 12 months.
No insider transactions on file.
Fundamentals & filings from SEC EDGAR. Prices adjusted for splits & dividends. Not investment advice.