TW
Tradeweb Markets Inc
NASDAQ: TW · FINANCIAL SERVICES · CAPITAL MARKETS
$113.25
-4.12% today
Updated 2026-04-30
Market cap
$24.50B
P/E ratio
29.72
P/S ratio
11.95x
EPS (TTM)
$3.78
Dividend yield
0.43%
52W range
$97 – $149
Volume
1.4M
Tradeweb Markets Inc (TW) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $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 |
| Revenue growth (YoY) | — | +16.9% | +18.4% | -4.8% | +42.5% | +36.5% | +4.9% | +5.2% | -3.2% | +4.7% | -86.5% | +2.5% | +30.4% | +17.9% | +15.1% | +20.6% | +10.4% | +12.6% | +29.0% | +18.9% |
| Cost of revenue | $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 | $250.19M |
| Gross profit | $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 | $1.80B |
| Gross margin | 25.5% | 26.7% | 27.0% | 27.5% | 24.0% | 25.4% | 27.1% | 28.0% | 28.4% | 29.6% | 53.6% | 50.6% | 56.0% | 57.5% | 60.8% | 62.2% | 63.6% | 65.6% | 65.7% | 87.8% |
| R&D | — | — | — | — | — | — | — | — | — | — | $26.82M | $25.42M | $25.04M | $26.18M | $36.10M | $47.12M | $52.18M | $55.81M | $72.85M | — |
| SG&A | $147.12M | $159.64M | $176.66M | $177.25M | $220.94M | $281.58M | $284.99M | $329.47M | $317.45M | $311.91M | $89.61M | $97.78M | $113.99M | $116.96M | $125.86M | $139.05M | $164.91M | $93.86M | $235.23M | $141.79M |
| Operating income | $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 | $827.10M |
| Operating margin | 10.4% | 12.1% | 12.9% | 12.5% | 10.6% | 12.7% | 14.3% | 14.0% | 14.2% | 16.3% | 18.9% | 17.7% | 26.2% | 24.5% | 29.5% | 33.3% | 34.7% | 37.8% | 39.3% | 40.3% |
| EBITDA | — | — | — | — | — | — | — | — | — | — | $174.63M | $157.71M | $254.10M | $362.28M | $428.57M | $542.88M | $617.82M | $681.10M | $978.68M | $1.43B |
| EBITDA margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 35.5% | 31.3% | 38.6% | 46.7% | 48.0% | 50.4% | 52.0% | 50.9% | 56.7% | 69.5% |
| EBIT | — | — | — | — | — | — | — | — | — | — | $93.78M | $89.09M | $172.27M | $222.95M | $274.78M | $371.57M | $438.94M | $495.75M | $758.68M | $1.18B |
| Interest expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.34M | $455000.00 | $0.00 | $86.88M | $316000.00 | $1.59M | $1.80M | $2.05M | $4.28M | $1.94M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $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 growth (YoY) | — | +33.4% | +33.7% | -5.8% | -17.7% | +61.2% | +33.8% | +22.5% | +12.7% | +7.1% | -75.8% | -10.2% | +90.6% | -47.5% | +98.5% | +36.4% | +36.4% | +18.0% | +37.4% | +62.1% |
| Profit margin | 6.9% | 7.8% | 8.8% | 8.7% | 5.1% | 6.0% | 7.6% | 8.9% | 10.3% | 10.6% | 18.9% | 16.6% | 24.3% | 10.8% | 18.6% | 21.1% | 26.0% | 27.3% | 29.1% | 39.6% |