Friday 6 November 2026 Export TW’s income statement to Excel — free account

Tradeweb Markets Inc.

TW Financial Capital Markets

Tradeweb Markets Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.1 billion, up 18.9% from fiscal 2024.

Revenue: +14.9%
EPS: +22.9%
Free cash flow: +2.33%

Quarter to September 2026, against a year earlier

127.73 0.17 +0.13%

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Market cap: $29.6B
P/E: 29.0×
Fwd P/E: 34.5×
Dividend yield: 0.42%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Older periods	Dec '25	Mar '26	Jun '26	Sep '26
P/E ratio Full definition →	+8 more quarters Free account	28.23	28.91	23.73	22.92
P/S ratio Full definition →		11.17	11.58	9.60	9.30
P/FCF ratio Full definition →		21.54	22.84	19.69	19.59
P/Operating CF Full definition →		64.42	241.02	53.73	61.09
P/B ratio Full definition →		3.19	3.42	2.89	2.89
Price to Tangible BV Full definition →		7.93	8.23	6.83	6.79
EV/Sales Full definition →		10.17	10.70	8.68	—
EV/EBITDA Full definition →		19.24	19.82	15.82	—
EV/Operating CF Full definition →		17.88	19.09	16.01	—
EV/FCF Full definition →		19.61	21.10	17.81	—
Quick Ratio Full definition →		4.96	5.30	6.08	4.45
Current Ratio Full definition →		5.08	5.43	6.23	4.55
Net Debt/EBITDA Full definition →		(7.42)	(5.57)	(6.71)	(6.70)
Debt/Assets Full definition →		0.00%	0.00%	0.00%	0.00%
Debt/Equity Full definition →		0.00	0.00	0.00	0.00
Asset Turnover Full definition →		0.27	0.28	0.27	0.28
Operating CF/Net income Full definition →		1.10	0.51	2.17	1.76
Capex/Depreciation Full definition →		(0.58)	(0.45)	(0.44)	(0.47)
Interest Coverage Full definition →		548.42	460.34	485.67	485.50
Research and Development Expense of Revenue Full definition →		6.82%	6.40%	7.51%	7.63%
Selling, General and Administrative Expense of Revenue Full definition →		39.25%	37.27%	37.61%	38.35%
Intangible Assets out of Total Assets Full definition →		0.52	0.51	0.51	0.50
Share Based Compensation of Revenue Full definition →		5.43%	4.06%	5.33%	4.51%
Graham Net Nets Full definition →		0.06	0.06	0.07	0.07
Graham Number Full definition →		53.76	56.10	57.13	58.74
Earnings Yield Full definition →		3.54%	3.46%	4.21%	4.36%
Free Cash Flow Yield Full definition →		4.64%	4.38%	5.08%	5.10%
Revenue per Share Full definition →		2.44	2.90	2.63	2.78
Operating CF per Share Full definition →		1.67	0.49	1.85	1.65
Capex per Share Full definition →		(0.16)	(0.13)	(0.13)	(0.14)
Free Cash Flow per Share Full definition →		1.51	0.36	1.73	1.51
Cash per Share Full definition →		9.78	9.11	9.69	10.06
Shareholders Equity per Share Full definition →		33.72	34.37	34.54	34.86
Interest Debt per Share Full definition →		0.00	0.00	0.00	0.00
Book value per Share Full definition →		33.72	34.37	34.54	34.86
Free Cash Flow Full definition →		321.14	76.72	366.88	318.15
Working Capital Full definition →		1,935.87	2,021.38	2,044.08	2,057.50
Capital Expenditures Full definition →		(34.81)	(27.11)	(27.23)	(29.17)
Net Current Asset Value Full definition →		1,410.18	1,491.80	1,522.58	1,542.09
EV/EBIT Full definition →		25.00	25.18	19.87	—
Capex to Sales Full definition →		0.07	0.04	0.05	0.05
Price to Operating Income Full definition →		27.45	27.25	21.97	21.07
Other line items
Average Receivables Full definition →		278.27	444.76	564.40	413.49
Average Payables Full definition →		139.63	136.88	161.01	203.61
Average Assets Full definition →		7,728.78	7,832.86	8,153.45	8,212.65
Average Common Equity Full definition →		6,794.06	6,928.42	7,032.22	7,134.58

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Columns are period end dates · fundamentals updated 2 Nov 2026

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