Financial Ratios Tradeweb Markets Inc.

Equities

TW

US8926721064

Financial & Commodity Market Operators

Market Closed - Nasdaq Other stock markets 16:00:00 2026-02-11 EST			5-day change	1st Jan Change
115.02 ^USD	-1.46%		+14.08%	+6.96%

02-05	Tradeweb Markets Inc. Declares Quarterly Cash Dividend on Class A Common Stock and Class B Common Stock, Payable on March 16, 2026	CI
02-05	Tradeweb Markets Inc., Q4 2025 Earnings Call, Feb 05, 2026

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Published financial data: TRADEWEB MARKETS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Interest Expense, Total	1.59M	-	-	4.28M	1.94M
Net Interest Income	-1.59M	-	-	-4.28M	-1.94M
Brokerage Commission	-	-	-	-	-
Other Revenues, Total	1.08B	1.19B	1.34B	1.73B	2.05B
Revenues Before Provison For Loan Losses	1.07B	1.19B	1.34B	1.72B	2.05B
Total Revenues	1.07B	1.19B	1.34B	1.72B	2.05B
Salaries And Other Employee Benefits	404M	417M	460M	586M	671M
Cost of Services Provided, Total	134M	164M	179M	216M	296M
Depreciation & Amortization - (IS) - (Collected)	171M	179M	185M	220M	250M
Other Operating Expenses	-	-	-	-	-
Total Operating Expenses	710M	760M	825M	1.02B	1.22B
Operating Income	365M	429M	513M	700M	833M
Income (Loss) on Equity Invest.	-	-	-	-	-500K
Currency Exchange Gains (Loss)	-	-	-1.29M	-	-
Other Non Operating Income (Expenses)	12.74M	25.56M	55.1M	81.95M	349M
EBT, Excl. Unusual Items	378M	454M	567M	782M	1.18B
Restructuring Charges	-	-	-	-2.9M	-
Total Merger & Related Restructuring Charges	-5.07M	-1.07M	-8.04M	-20.5M	-
Gain (Loss) on Sale of Investments	-	-1M	-11.1M	-1.3M	-6.5M
Other Unusual Items	-3M	-15M	-	-2.7M	-
EBT, Incl. Unusual Items	370M	437M	548M	754M	1.17B
Income Tax Expense	96.88M	77.52M	128M	184M	253M
Earnings From Continuing Operations	273M	360M	420M	570M	922M
Net Income to Company	273M	360M	420M	570M	922M
Minority Interest	-46.28M	-50.28M	-54.64M	-68.46M	-109M
Net Income - (IS)	227M	309M	365M	502M	813M
Preferred Dividend and Other Adjustments	-	244K	467K	389K	636K
Net Income to Common Incl Extra Items	227M	309M	364M	501M	812M
Net Income to Common Excl. Extra Items	227M	309M	364M	501M	812M
Per Share Items
Net EPS - Basic	1.13	1.5	1.73	2.35	3.81
Basic EPS - Continuing Operations	1.13	1.5	1.73	2.35	3.81
Basic Weighted Average Shares Outstanding	201M	206M	211M	213M	213M
Net EPS - Diluted	1.09	1.48	1.71	2.33	3.78
Diluted EPS - Continuing Operations	1.09	1.48	1.71	2.33	3.78
Diluted Weighted Average Shares Outstanding	207M	208M	213M	215M	215M
Normalized Basic EPS	0.94	1.14	1.42	1.97	2.95
Normalized Diluted EPS	0.92	1.12	1.41	1.95	2.93
Dividend Per Share	0.32	0.32	0.36	0.4	0.48
Payout Ratio	28.47	21.34	20.8	17	12.59
Supplemental Items
Total Revenues (As Reported)	1.08B	1.19B	1.34B	1.73B	2.05B
Effective Tax Rate - (Ratio)	26.18	17.73	23.45	24.45	21.57
Current Domestic Taxes	10.36M	23.5M	35.92M	138M	149M
Current Foreign Taxes	1.11M	1.15M	2.66M	14.41M	12.44M
Total Current Taxes	11.47M	24.66M	38.58M	152M	161M
Deferred Domestic Taxes	89.63M	55.21M	88.97M	30.08M	94.17M
Deferred Foreign Taxes	-4.22M	-2.34M	925K	2.24M	-1.85M
Total Deferred Taxes	85.41M	52.86M	89.9M	32.31M	92.32M
Normalized Net Income	190M	234M	300M	420M	630M
Supplemental Operating Expense Items
Stock-Based Comp., G&A Exp. (Total)	3M	15M	-	89.65M	104M
Stock-Based Comp., Other (Total)	48.94M	51.64M	65.13M	-	-
Total Stock-Based Compensation	51.94M	66.64M	65.13M	89.65M	104M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	972M	1.26B	1.71B	1.34B	2.08B
Accounts Receivable, Total	-	11.63M	381M	67.8M	8.63M
Other Receivables	130M	146M	169M	230M	271M
Gross Property Plant And Equipment	108M	136M	155M	172M	298M
Accumulated Depreciation	-56M	-73.8M	-95.8M	-92M	-96.7M
Net Property Plant And Equipment	51.56M	62.35M	58.76M	79.52M	201M
Goodwill	2.78B	2.78B	2.82B	3.15B	3.15B
Other Intangibles, Total	1.34B	1.22B	1.14B	1.58B	1.42B
Investment In Debt and Equity Securities	21.1M	20M	8.9M	10.35M	24.86M
Trading Asset Securities, Total	3.02M	-	-	-	-
Restricted Cash	1M	1M	1M	1M	1M
Other Current Assets, Total	20.52M	23.91M	36.81M	54.7M	58.28M
Deferred Tax Assets Long-Term (Collected)	619M	689M	684M	659M	569M
Other Long-Term Assets, Total	52.86M	51.6M	59.48M	94.09M	400M
Total Assets	5.99B	6.26B	7.06B	7.27B	8.19B
Liabilities
Accounts Payable, Total	26.46M	52.52M	408M	160M	185M
Accrued Expenses, Total	167M	157M	166M	225M	252M
Short-Term Borrowings	-	1M	22.39M	-	6.66M
Current Portion of Leases	8.1M	11.91M	12.32M	13.44M	18.27M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	16.23M	16.03M	15.14M	22.31M	121M
Current Income Taxes Payable	2.7M	2.7M	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	1.9M	8.19M	26.8M	5.68M	39.09M
Unearned Revenue Non Current	24.93M	22.83M	25.75M	30.8M	29.03M
Deferred Tax Liability Non-Current	21.01M	21.25M	20.77M	42.89M	50.01M
Other Non Current Liabilities	412M	420M	431M	369M	300M
Total Liabilities	681M	714M	1.13B	869M	1B
Common Stock, Total	2K	2K	2K	2K	2K
Additional Paid In Capital	4.4B	4.58B	4.74B	4.81B	4.9B
Retained Earnings	243M	387M	640M	997M	1.6B
Comprehensive Income and Other	1.6M	-10.11M	-5.39M	-9.98M	10.9M
Total Common Equity	4.65B	4.95B	5.37B	5.8B	6.51B
Minority Interest	663M	593M	558M	599M	681M
Total Equity	5.31B	5.55B	5.93B	6.4B	7.19B
Total Liabilities And Equity	5.99B	6.26B	7.06B	7.27B	8.19B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	204M	208M	213M	213M	213M
ECS Total Common Shares Outstanding	203M	208M	212M	213M	212M
Book Value / Share	22.86	23.85	25.35	27.24	30.63
Tangible Book Value	527M	956M	1.42B	1.07B	1.94B
Tangible Book Value Per Share	2.59	4.61	6.7	5.02	9.11
Total Debt	24.33M	28.94M	49.85M	35.75M	146M
Net Debt	-951M	-1.23B	-1.66B	-1.3B	-1.94B
Equity Method Investments, Total	-	-	-	-	5M
Full Time Employees	1.05K	1.09K	1.18K	1.41K	1.57K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	227M	309M	365M	502M	813M
Depreciation, Depletion & Amortization	20.89M	19.5M	21.24M	22.75M	25.55M
Amortization of Goodwill and Intangible Assets - (CF)	103M	107M	108M	124M	133M
Total Depreciation, Depletion & Amortization	124M	127M	130M	147M	158M
Amortization of Deferred Charges, Total	47.12M	52.18M	55.81M	72.85M	91.74M
(Gain) Loss on Sale of Investments - (CF)	-	1M	-	-	-
Stock-Based Compensation (CF)	51.94M	66.64M	65.13M	89.65M	104M
Change in Accounts Receivable	-22.25M	-17.6M	-50.03M	-14.9M	-35.34M
Change in Accounts Payable	-3.48M	10.2M	2.19M	29.76M	87.14M
Change in Unearned Revenues	1.14M	-1.99M	2.8M	4.58M	-2.03M
Change In Deferred Taxes	-	-	-	-23.86M	23.86M
Change in Other Net Operating Assets (Collected)	33.59M	-3.13M	8.62M	-3.15M	10.59M
Other Operating Activities	119M	89.48M	167M	94.15M	-83.09M
Cash from Operations	578M	633M	746M	898M	1.17B
Capital Expenditure	-16.88M	-23.21M	-18.53M	-40.96M	-40.55M
Cash Acquisitions	-208M	-	-69.71M	-860M	-
Purchase / Sale of Intangible Assets	-34.47M	-36.88M	-43.24M	-47.91M	-62.54M
Investment in Marketable and Equity Securities, Total	-	-	-	-20.2M	-38.44M
Other Investing Activities, Total	-	-	-1.29M	-	15M
Cash from Investing	-259M	-60.1M	-133M	-969M	-127M
Issuance of Common Stock	93.1M	10.19M	15.24M	6.74M	-
Repurchase of Common Stock	-147M	-201M	-86.55M	-107M	-154M
Common Dividends Paid	-64.57M	-66.01M	-75.91M	-85.23M	-102M
Common & Preferred Stock Dividends Paid	-64.57M	-66.01M	-75.91M	-85.23M	-102M
Other Financing Activities, Total	-17.93M	-19.89M	-20.96M	-105M	-51.45M
Cash from Financing	-136M	-277M	-168M	-290M	-307M
Foreign Exchange Rate Adjustments	-2.04M	-10.84M	4.09M	-4.46M	10.8M
Net Change in Cash	181M	285M	449M	-366M	744M
Supplemental Items
Cash Interest Paid	-	-	-	2.57M	2.55M
Cash Income Tax Paid (Refund)	3.88M	13.2M	28.64M	152M	58.06M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.68	5.87	6.3	7.96	11.92
Return On Equity %	5.29	6.63	7.31	9.24	13.56
Return on Common Equity	5.07	6.44	7.06	8.97	13.2
Margin Analysis
Gross Profit Margin %	94.77	94.46	94.21	94.27	93.74
SG&A Margin	44.85	43.36	42	40.85	40.9
Income From Continuing Operations Margin %	25.41	30.25	31.35	33.11	44.94
Net Income Margin %	21.1	26.02	27.26	29.13	39.64
Net Avail. For Common Margin %	21.1	26	27.23	29.11	39.61
Normalized Net Income Margin	17.68	19.65	22.4	24.4	30.71
Asset Turnover
Asset Turnover	0.18	0.19	0.2	0.24	0.27
Short Term Liquidity
Current Ratio	5.45	6.16	3.61	4.19	4.85
Quick Ratio	5.35	6.05	3.55	4.05	4.73
Operating Cash Flow to Current Liabilities	2.8	2.71	1.17	2.22	2.33
Long Term Solvency
Total Debt/Equity	0.46	0.52	0.84	0.56	2.03
Total Debt / Total Capital	0.46	0.52	0.83	0.56	1.99
LT Debt/Equity	0.31	0.29	0.26	0.35	1.68
Long-Term Debt / Total Capital	0.3	0.29	0.25	0.35	1.65
Total Liabilities / Total Assets	11.37	11.4	15.98	11.96	12.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	20.45	10.6	12.57	28.85	19.1
Gross Profit, 1 Yr. Growth %	20.57	10.23	12.27	28.95	18.43
Earnings From Cont. Operations, 1 Yr. Growth %	25.06	31.67	16.65	35.87	61.68
Net Income, 1 Yr. Growth %	36.4	36.38	17.95	37.45	62.07
Normalized Net Income, 1 Yr. Growth %	59.07	22.94	28.34	40.89	50.52
Diluted EPS Before Extra, 1 Yr. Growth %	23.86	35.78	15.54	36.26	62.23
Common Equity, 1 Yr. Growth %	7.95	6.63	8.48	7.94	12.2
Total Assets, 1 Yr. Growth %	5.46	4.51	12.77	2.95	12.68
Tangible Book Value, 1 Yr. Growth %	104.95	81.59	48.43	-24.66	81.03
Cash From Operations, 1 Yr. Growth %	30.41	9.48	17.9	20.33	30.06
Capital Expenditures, 1 Yr. Growth %	46.89	37.54	-20.18	121.06	-1
Dividend Per Share, 1 Yr. Growth %	0	0	12.5	11.11	20
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	17.72	15.42	11.58	20.44	23.88
Gross Profit, 2 Yr. CAGR %	17.62	15.29	11.25	20.32	23.58
Earnings From Cont. Operations, 2 Yr. CAGR %	25.64	28.32	23.94	25.89	48.21
Net Income, 2 Yr. CAGR %	34.11	36.39	26.83	27.33	49.25
Normalized Net Income, 2 Yr. CAGR %	42.23	39.85	25.88	34.31	45.31
Diluted EPS Before Extra, 2 Yr. CAGR %	42.07	29.68	25.25	25.47	48.68
Common Equity, 2 Yr. CAGR %	17.26	7.29	7.55	8.21	10.05
Total Assets, 2 Yr. CAGR %	8.43	4.98	8.56	7.75	7.71
Tangible Book Value, 2 Yr. CAGR %	-17.42	92.92	64.17	5.75	16.78
Cash From Operations, 2 Yr. CAGR %	36.33	19.49	13.61	19.11	25.1
Capital Expenditures, 2 Yr. CAGR %	3.42	42.14	4.78	32.83	47.94
Dividend Per Share, 2 Yr. CAGR %	15.47	0	6.07	11.8	15.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	16.24	15.3	14.46	17	19.99
Gross Profit, 3 Yr. CAGR %	16.28	15.11	14.27	16.8	19.69
Earnings From Cont. Operations, 3 Yr. CAGR %	19.64	27.62	24.31	27.79	36.84
Net Income, 3 Yr. CAGR %	12.46	34.86	29.94	30.27	37.99
Normalized Net Income, 3 Yr. CAGR %	14.67	35.49	35.9	30.47	39.31
Diluted EPS Before Extra, 3 Yr. CAGR %	-89.78	39.94	24.79	28.82	36.69
Common Equity, 3 Yr. CAGR %	0.53	13.61	7.68	7.68	9.52
Total Assets, 3 Yr. CAGR %	6.23	7.1	7.52	6.66	9.37
Tangible Book Value, 3 Yr. CAGR %	17.33	7.39	76.77	26.63	26.5
Cash From Operations, 3 Yr. CAGR %	27.73	26.72	18.96	15.81	22.65
Capital Expenditures, 3 Yr. CAGR %	3.06	13.73	17.27	34.38	20.44
Dividend Per Share, 3 Yr. CAGR %	-	10.06	4	7.72	14.47
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	15.76	16.12	14.35	17.29	18.1
Gross Profit, 5 Yr. CAGR %	15.82	16.07	14.24	17.13	17.87
Earnings From Cont. Operations, 5 Yr. CAGR %	24	33.87	21.34	26.93	33.37
Net Income, 5 Yr. CAGR %	19.48	29.9	18	31.79	37.35
Normalized Net Income, 5 Yr. CAGR %	20.7	20.31	18.93	34.94	39.44
Diluted EPS Before Extra, 5 Yr. CAGR %	-71.82	-69.35	-72.15	33.97	33.84
Common Equity, 5 Yr. CAGR %	35.3	38.09	3.28	11.41	8.62
Total Assets, 5 Yr. CAGR %	35.31	36.59	7.15	7.36	7.59
Tangible Book Value, 5 Yr. CAGR %	25.61	43.05	34.2	6.73	49.76
Cash From Operations, 5 Yr. CAGR %	27.46	23.02	21.88	23.62	21.38
Capital Expenditures, 5 Yr. CAGR %	11.04	11.52	3.75	21.02	28.69
Dividend Per Share, 5 Yr. CAGR %	-	-	-	10.76	8.45