Tradeweb Markets Inc. financials

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TW CIK 0001758730

Source: EDGAR filings · Built 2026-06-02T04:14:19Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 1.13B 856.78M 727.56M 609.61M 561.14M 431.74M
EBITDA 1.09B 898.03M 690.62M 591.45M 530.14M 417.14M
Net Debt -1.95B -1.30B -1.68B -1.23B -947.72M -756.82M
Operating Margin 40.70% 39.28% 37.76% 34.71% 33.33% 29.50%
Net Margin 39.60% 29.06% 27.27% 26.02% 21.07% 18.63%
Return on Equity (ROE) 12.49% 8.65% 6.79% 6.24% 4.88% 3.86%
Return on Assets (ROA) 9.92% 6.90% 5.17% 4.94% 3.79% 2.93%
Debt-to-Equity 0.02× 0.01× 0.01× 0.01× 0.01× 0.01×
Effective Tax Rate 21.57% 24.45% 23.45% 17.73% 26.18% 20.43%
Cash Conversion Ratio 1.44× 1.79× 2.04× 2.05× 2.55× 2.67×
Accruals Ratio -0.04× -0.05× -0.05× -0.05× -0.06× -0.05×
SBC % of Revenue 5.04% 5.19% 4.87% 5.61% 4.83% 4.40%
CapEx Coverage 28.79× 21.92× 40.27× 27.26× 34.25× 38.58×
Free Cash Flow Per Share $5.24 $3.99 $3.42 $2.93 $2.71 $2.29

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 28.45× 56.19× 53.15× 43.87× 91.87× 70.97×
P/FCF 20.50× 32.84× 26.56× 22.20× 36.99× 27.23×
FCF Yield 4.88% 3.04% 3.76% 4.51% 2.70% 3.67%
EV / EBITDA 19.50× 29.88× 25.55× 20.80× 37.36× 26.36×
P/S 11.26× 16.30× 14.44× 11.38× 19.28× 13.17×
P/B 3.55× 4.85× 3.60× 2.73× 4.47× 2.73×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 2.05B 1.73B 1.34B 1.19B 1.08B 892.66M
Revenues — — — — — 892.66M
Operating Income (Loss) 835.34M 678.03M 505.27M 412.57M 358.83M 263.36M
Income Tax Expense (Benefit) 253.47M 184.44M 128.48M 77.52M 96.88M 56.07M
Net Income (Loss) Attributable to Parent 812.79M 501.51M 364.87M 309.34M 226.83M 166.30M
Earnings Per Share, Basic $3.81 $2.35 $1.73 $1.50 $1.13 $0.92
Weighted Average Number of Shares Outstanding, Basic 213.21M 213.03M 210.80M 205.58M 201.42M 180.41M
Earnings Per Share, Diluted $3.78 $2.33 $1.71 $1.48 $1.09 $0.88
Weighted Average Number of Shares Outstanding, Diluted 214.90M 214.92M 212.67M 208.40M 207.25M 188.22M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 2.08B 1.34B 1.71B 1.26B 972.05M 791.28M
Assets 8.19B 7.27B 7.06B 6.26B 5.99B 5.68B
Liabilities 1.00B 869.11M 1.13B 713.82M 681.24M 660.69M
Stockholders' Equity Attributable to Parent 6.51B 5.80B 5.37B 4.95B 4.65B 4.30B

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 1.17B 897.74M 746.09M 632.82M 578.02M 443.23M
Payments to Acquire Property, Plant, and Equipment 40.55M 40.96M 18.53M 23.21M 16.88M 11.49M
Net Cash Provided by (Used in) Investing Activities -126.53M -969.19M -132.76M -60.10M -259.11M -62.54M
Payments for Repurchase of Common Stock 104.17M 59.05M 35.20M 99.32M 75.68M 0
Net Cash Provided by (Used in) Financing Activities -307.48M -290.26M -168.17M -276.70M -136.10M -52.69M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (TW CIK 0001758730), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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