Tradeweb Markets
TW
107.40
-0.14
-0.13%
Tradeweb Markets
US · TW
#883 by market cap
Listed 2019
107.40
-0.14
-0.13%
Live - 5344 symbols - heartbeat 362s ago
· 2026-10-07 19:54
After-hours
107.40
0.00%
- Market cap
- 22.66B
- P/E (TTM)i
- 25.63
- P/Bi
- 3.42
- EPSi
- 3.78
- Div yieldi
- 0.48%
- 52W posi
- 45%
Reader sentiment
Are you bullish or bearish on TW?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 14.73, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +18.92% YoY
Margins
- Gross margin
- 67.32%
- Operating margin
- 41.18%
- Net margin
- 39.57%
Key ratios & quality
- PEG ratioi
- 0.67
- Altman Z-Scorei
- 14.73
PEG uses trailing P/E against the 3-year net income growth rate (37.99%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 657.58M | 775.57M | 892.66M | 1.08B | 1.19B | 1.34B | 1.73B | 2.05B |
| Gross profit | 368.09M | 446.11M | 543.00M | 669.19M | 756.36M | 877.91M | 1.13B | 1.38B |
| Selling & admin expenses | 113.99M | 116.96M | 125.86M | 139.05M | 164.91M | 187.30M | 235.23M | 296.07M |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 172.27M | 222.95M | 274.78M | 371.57M | 426.23M | 495.75M | 685.76M | 845.12M |
| Pretax profit | 174.78M | 225.33M | 274.46M | 369.98M | 437.13M | 547.98M | 754.40M | 1.17B |
| Tax | 15.32M | 52.30M | 56.07M | 96.88M | 77.52M | 128.48M | 184.44M | 253.47M |
| Net profit | 159.47M | 130.67M | 218.39M | 273.11M | 359.61M | 419.50M | 569.96M | 921.50M |
| Basic EPS | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 4 |
| Diluted EPS | 1.29 | 0.54 | 0.88 | 1.09 | 1.48 | 1.71 | 2.33 | 3.78 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 509.68M | 512.97M | 508.60M | 521.18M | 617.76M | 558.95M |
| Gross profit | 332.80M | 343.28M | 343.61M | 361.92M | 419.97M | 386.48M |
| Selling & admin expenses | 66.00M | 80.38M | 68.88M | 80.81M | 72.01M | 79.74M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 204.10M | 199.85M | 210.37M | 230.80M | 287.25M | 245.26M |
| Pretax profit | 221.58M | 227.06M | 269.62M | 456.71M | 302.92M | 270.19M |
| Tax | 53.28M | 51.54M | 59.07M | 89.59M | 69.76M | 63.50M |
| Net profit | 168.31M | 175.52M | 210.55M | 367.12M | 233.17M | 206.69M |
| Basic EPS | 1 | 1 | 1 | 2 | 1 | 1 |
| Diluted EPS | 0.69 | 0.71 | 0.86 | 1.51 | 0.96 | 0.85 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 687.76M | 597.42M | 909.72M | 1.13B | 1.44B | 2.29B | 1.69B | 2.42B |
| Cash & ST investments | 410.10M | 460.71M | 791.28M | 972.05M | 1.26B | 1.71B | 1.34B | 2.08B |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 5.00B | 5.10B | 5.68B | 5.99B | 6.26B | 7.06B | 7.27B | 8.19B |
| Total current liabilities | 270.84M | 330.65M | 477.51M | 481.07M | 513.74M | 893.96M | 567.51M | 559.97M |
| Short-term debt | -- | -- | -- | -- | -- | -- | -- | -- |
| Long-term debt | -- | -- | -- | -- | -- | -- | -- | -- |
| Total liabilities | 424,805,000.00 | 502,589,000.00 | 660,687,000.00 | 681,237,000.00 | 713,815,000.00 | 1,128,132,000.00 | 869,108,000.00 | 1,000,320,000.00 |
| Total equity | 4.57B | 4.59B | 5.02B | 5.31B | 5.55B | 5.93B | 6.40B | 7.19B |
| Retained earnings | 0 | 47.83M | 156.04M | 242.62M | 386.63M | 640.38M | 996.76M | 1.60B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 1.82B | 2.51B | 2.34B | 2.42B | 2.48B | 2.44B |
| Cash & ST investments | 1.31B | 1.63B | 1.91B | 2.08B | 1.94B | 2.06B |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 7.37B | 8.06B | 8.00B | 8.19B | 8.30B | 8.25B |
| Total current liabilities | 644.26M | 1.10B | 670.29M | 559.97M | 681.43M | 549.92M |
| Short-term debt | -- | -- | -- | -- | -- | -- |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 822,756,000.00 | 1,329,779,000.00 | 1,060,985,000.00 | 1,000,320,000.00 | 986,111,000.00 | 912,689,000.00 |
| Total equity | 6.55B | 6.73B | 6.93B | 7.19B | 7.31B | 7.34B |
| Retained earnings | 1.12B | 1.25B | 1.41B | 1.60B | 1.73B | 1.69B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 277.38M | 311.00M | 443.23M | 578.02M | 632.82M | 746.09M | 897.74M | 1.17B |
| Depreciation & amortization | 81.83M | 139.33M | 153.79M | 171.31M | 178.88M | 185.35M | 220.00M | 250.19M |
| Free cash flow | 235.29M | 266.54M | 400.70M | 526.67M | 572.73M | 684.33M | 808.87M | 1.06B |
| Dividends paid | -175.35M | -155.94M | -58.09M | -64.57M | -66.01M | -75.91M | -85.23M | -102.34M |
| Stock buybacks / issuance | 0 | 1.97B | 626.27M | -75.68M | -99.32M | -35.21M | -59.05M | -104.17M |
| Ending cash balance | 411.30M | 461.71M | 792.28M | 973.05M | 1.26B | 1.71B | 1.34B | 2.09B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 60.21M | 409.19M | 342.30M | 355.95M | 103.83M | 394.11M |
| Depreciation & amortization | 62.70M | 63.05M | 64.35M | 60.09M | 60.71M | 61.49M |
| Free cash flow | 45.39M | 387.13M | 310.89M | 321.14M | 76.72M | 366.88M |
| Dividends paid | -25.57M | -25.61M | -25.61M | -25.56M | -29.77M | -29.73M |
| Stock buybacks / issuance | -844.00K | 0 | 0 | -103.33M | -53.33M | -187.22M |
| Ending cash balance | 1.31B | 1.63B | 1.91B | 2.09B | 1.94B | 2.06B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 5.74 | 2.11 | 4.33 | 5.07 | 6.45 | 7.06 | 8.97 | 13.20 |
| ROA %i | 5.05 | 1.66 | 3.09 | 3.89 | 5.05 | 5.47 | 7.00 | 10.51 |
| ROIC %i | 5.74 | 2.09 | 4.29 | 5.04 | 6.41 | 7.02 | 7.98 | 12.18 |
| 5-year avg ROE %i | -- | -- | -- | 5.14 | 4.74 | 5.00 | 6.37 | 8.15 |
| EBIT margin %i | 26.32 | 28.75 | 30.78 | 34.52 | 35.85 | 37.05 | 43.96 | 57.34 |
| FCF / sales %i | 35.78 | 34.37 | 44.89 | 48.93 | 48.18 | 51.14 | 46.87 | 51.87 |
| Current ratioi | 2.54 | 1.81 | 1.91 | 2.34 | 2.80 | 2.57 | 2.99 | 4.32 |
| Quick ratioi | 2.49 | 1.77 | 1.88 | 2.30 | 2.75 | 2.52 | 2.89 | 4.21 |
| Debt / assetsi | 0.00 | 0.61 | 0.61 | 0.41 | 0.45 | 0.39 | 0.49 | 1.70 |
| LT debt / equityi | -- | 0.92 | 0.80 | 0.52 | 0.56 | 0.51 | 0.62 | 2.14 |
| Interest coveragei | -- | -- | -- | -- | -- | -- | 177.30 | 606.34 |
| Revenue CAGR (3Y) %i | -- | 16.37 | 20.95 | 17.86 | 15.30 | 14.45 | 17.04 | 19.97 |
| Net income CAGR (3Y) %i | -- | -3.48 | 25.74 | 12.46 | 54.57 | 29.94 | 30.27 | 37.99 |
| FCF CAGR (3Y) %i | -- | 24.99 | 29.63 | 30.81 | 29.04 | 19.53 | 15.38 | 22.95 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 9.14 | 9.51 | 10.51 | 13.20 | 13.84 | 14.09 |
| ROA %i | 7.09 | 7.27 | 8.21 | 10.51 | 11.10 | 11.00 |
| ROIC %i | 8.26 | 8.72 | 9.58 | 12.18 | 12.79 | 13.00 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 43.36 | 43.19 | 46.66 | 57.34 | 58.24 | 58.98 |
| FCF / sales %i | 45.63 | 49.19 | 49.51 | 51.87 | 50.72 | 48.75 |
| Current ratioi | 2.82 | 2.29 | 3.49 | 4.32 | 3.64 | 4.44 |
| Quick ratioi | 2.66 | 2.22 | 3.39 | 4.21 | 3.56 | 4.34 |
| Debt / assetsi | 0.44 | 0.40 | 1.70 | 1.70 | 1.72 | 1.82 |
| LT debt / equityi | 0.54 | 0.53 | 2.16 | 2.14 | 2.16 | 2.27 |
| Interest coveragei | 251.62 | 275.32 | 440.84 | 606.34 | 636.14 | 633.64 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
Revenue breakdown most recent period
Business
Electronic marketplaces for the trading of products across the rates, credit, equities and money100.00%
Quote time 2026-10-07 19:54:59 · For reference only, not investment advice and not tailored to your situation.