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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

127.63 0.64 +0.50%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Tradeweb Markets Inc. (TW) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Tradeweb Markets Inc. (TW) trades at a P/B ratio of 3.7×. Over the past ten years it has ranged from 1.2× (March 2020) to 4.9× (March 2025); the current reading is higher than 79% of that period. That is above the Capital Markets industry median of 1.4× and above the Financial sector median of 1.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 3.2× (26.83%)
FY2024 4.4× 37.38%
FY2023 3.2× 31.00%
FY2022 2.4× (36.25%)
FY2021 3.8× 69.26%
FY2020 2.2× 50.27%
FY2019 1.5× (13.25%)
FY2018 1.7× 0.00%
FY2017 1.7× 0.00%
FY2016 1.7× —

Quarterly newest first

Period P/B ratio Change
Sep 2026 2.9× 0.26%
Jun 2026 2.9× (15.71%)
Mar 2026 3.4× 7.34%
Dec 2025 3.2× (6.59%)
31 more quarters

Against its own ten years

Low 1.2× High 4.9×
Ten-year median 3.1×
Current reading's percentile 79

P/B ratio against peers

Company P/B ratio
JEF Jefferies Financial Group Inc. compare 0.9×
BMNR BitMine Immersion Technologies, Inc. compare 0.9×
NMR Nomura Holdings Inc ADR compare 1.1×
IBKR Interactive Brokers Group, Inc. compare 1.9×
TW Tradeweb Markets Inc. 3.7×
LPLA LPL Financial Holdings Inc. compare 4.1×
CRCL Circle Internet Group, Inc. compare 4.6×
EVR Evercore Inc compare 5.1×
HOOD Robinhood Markets, Inc. compare 7.0×
Capital Markets industry median 1.4×
Financial sector median 1.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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