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Friday 6 November 2026
Export TW’s income statement to Excel — free account
Tradeweb Markets Inc.
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
127.63
0.64
+0.50%
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Tradeweb Markets Inc. (TW) Operating margin
Tradeweb Markets Inc.'s operating margin over the twelve months to 30 September 2026 was 44.1%, up 3.4 percentage points from fiscal 2025 (40.7%). Over the past ten years it has ranged from 17.7% (fiscal 2017) to 40.7% (fiscal 2025) — the current reading is the highest in ten years. That is above the Capital Markets industry median of 0.00% and above the Financial sector median of 0.00%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 40.7% | 1.42 |
| FY2024 | 39.3% | 1.52 |
| FY2023 | 37.8% | 3.05 |
| FY2022 | 34.7% | 1.38 |
| FY2021 | 33.3% | 3.83 |
| FY2020 | 29.5% | 5.03 |
| FY2019 | 24.5% | (1.73) |
| FY2018 | 26.2% | 8.54 |
| FY2017 | 17.7% | (20.18) |
| FY2016 | 37.8% | — |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 43.4% | (0.52) |
| Jun 2026 | 43.9% | (2.62) |
| Mar 2026 | 46.5% | 4.09 |
| Dec 2025 | 42.4% | 1.05 |
| 31 more quarters | Free account |
Against its own ten years
Low 17.7%
High 40.7%
Ten-year median
34.0%
Current reading's percentile
100
Operating margin against peers
| Company | Operating margin |
|---|---|
| IBKR Interactive Brokers Group, Inc. compare | 77.9% |
| NMR Nomura Holdings Inc ADR compare | 72.0% |
| HOOD Robinhood Markets, Inc. compare | 45.7% |
| TW Tradeweb Markets Inc. | 44.1% |
| JEF Jefferies Financial Group Inc. compare | 23.4% |
| EVR Evercore Inc compare | 22.5% |
| CRCL Circle Internet Group, Inc. compare | 11.3% |
| LPLA LPL Financial Holdings Inc. compare | 11.3% |
| BMNR BitMine Immersion Technologies, Inc. compare | −14,505.1% |
| Capital Markets industry median | 0.00% |
| Financial sector median | 0.00% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on TW
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement