Financials Tradeweb Markets Inc.

Equities

TW

US8926721064

Financial & Commodity Market Operators

Market Closed - Nasdaq 16:00:00 2024-06-12 EDT 5-day change 1st Jan Change
103.5 USD -1.29% Intraday chart for Tradeweb Markets Inc. -3.42% +13.93%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,444 11,751 20,235 13,506 19,236 22,352 - -
Enterprise Value (EV) 1 6,982 10,958 19,262 12,248 17,550 20,429 19,928 18,943
P/E ratio 85.8 x 71 x 91.9 x 43.9 x 53.1 x 48.4 x 41.6 x 37.2 x
Yield 0.52% 0.51% 0.32% 0.49% 0.4% 0.38% 0.42% 0.48%
Capitalization / Revenue 9.6 x 13.2 x 18.8 x 11.4 x 14.4 x 14.1 x 12.4 x 11.5 x
EV / Revenue 9 x 12.3 x 17.9 x 10.3 x 13.1 x 12.9 x 11.1 x 9.71 x
EV / EBITDA 19.8 x 25.1 x 35.2 x 19.8 x 25 x 24 x 20.7 x 17.5 x
EV / FCF 26.2 x 27.3 x 53 x 21.4 x 25.6 x 28.7 x 25.6 x 21.5 x
FCF Yield 3.82% 3.66% 1.89% 4.68% 3.9% 3.49% 3.91% 4.65%
Price to Book 3.05 x 4.05 x 5.04 x 2.73 x 3.98 x 3.94 x 3.74 x 3.18 x
Nbr of stocks (in thousands) 160,608 188,159 202,063 208,011 211,659 213,098 - -
Reference price 2 46.35 62.45 100.1 64.93 90.88 104.9 104.9 104.9
Announcement Date 20-02-12 21-02-04 22-02-03 23-02-02 24-02-06 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 775.6 892.7 1,076 1,189 1,338 1,588 1,796 1,951
EBITDA 1 353.2 436.4 547 617.3 701.6 851.9 964.5 1,082
EBIT 1 311.4 392.8 500.3 565.1 643.9 787.8 924 1,031
Operating Margin 40.15% 44.01% 46.48% 47.54% 48.12% 49.61% 51.46% 52.83%
Earnings before Tax (EBT) 1 225.3 274.5 370 437.1 548 762 864.3 986.5
Net income 1 83.77 166.3 226.8 309.3 364.9 519.1 607.9 757
Net margin 10.8% 18.63% 21.07% 26.02% 27.27% 32.69% 33.85% 38.8%
EPS 2 0.5400 0.8800 1.090 1.480 1.710 2.165 2.519 2.820
Free Cash Flow 1 266.5 400.7 363.3 572.7 684.3 713 779 880
FCF margin 34.37% 44.89% 33.75% 48.18% 51.14% 44.9% 43.38% 45.1%
FCF Conversion (EBITDA) 75.47% 91.81% 66.41% 92.77% 97.54% 83.69% 80.76% 81.35%
FCF Conversion (Net income) 318.19% 240.95% 160.16% 185.15% 187.56% 137.36% 128.15% 116.25%
Dividend per Share 2 0.2400 0.3200 0.3200 0.3200 0.3600 0.4025 0.4375 0.5067
Announcement Date 20-02-12 21-02-04 22-02-03 23-02-02 24-02-06 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 276.9 311.5 297.1 287.1 293 329.2 310.6 328.4 370 408.7 395.7 385.8 405.2 459.2 436.9
EBITDA 1 140.1 160.6 155.6 146.3 154.7 172.2 163.1 170.4 195.9 219.5 210.6 207.7 224.2 259 239
EBIT 1 128.2 148 142.6 133.1 141.4 158.4 148.8 155.8 181 204.6 195.3 190.1 199 235.2 224
Operating Margin 46.31% 47.5% 48% 46.36% 48.27% 48.11% 47.9% 47.44% 48.91% 50.05% 49.36% 49.26% 49.1% 51.23% 51.28%
Earnings before Tax (EBT) 1 103.5 111.2 107.1 106.2 112.6 135.4 131 140.3 141.3 187 191.3 179.9 196.4 227.6 222.9
Net income 1 48.89 82.96 68.34 81.57 88.95 87.86 89.08 98.61 89.31 126.1 128.1 125 136.9 - -
Net margin 17.66% 26.64% 23% 28.41% 30.35% 26.68% 28.68% 30.03% 24.14% 30.86% 32.37% 32.4% 33.78% - -
EPS 2 0.2300 0.4000 0.3300 0.3300 0.4200 0.4200 0.4200 0.4600 0.4200 0.5900 0.5202 0.5238 0.5678 0.6500 0.6100
Dividend per Share 2 0.0800 0.0800 0.0800 0.0800 0.0800 0.0900 0.0900 0.0900 0.0900 - 0.1000 0.1000 0.1000 0.0733 0.0500
Announcement Date 22-02-03 22-04-28 22-08-03 22-10-27 23-02-02 23-04-27 23-07-27 23-10-26 24-02-06 24-04-25 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 462 792 973 1,258 1,686 1,923 2,424 3,409
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 267 401 363 573 684 713 779 880
ROE (net income / shareholders' equity) 5.81% 7.97% 8.69% 9.38% 7.07% 11.4% 12% 11.9%
ROA (Net income/ Total Assets) 4.58% 5.68% 6.67% 7.35% 5.48% 7.79% 8.7% 6.5%
Assets 1 1,830 2,926 3,403 4,210 6,660 6,666 6,990 11,646
Book Value Per Share 2 15.20 15.40 19.90 23.80 22.90 26.60 28.00 33.00
Cash Flow per Share 2 1.990 2.350 2.790 3.040 3.510 4.100 4.460 -
Capex 1 44.5 42.5 51.3 60.1 61.8 61.9 71.5 76.8
Capex / Sales 5.73% 4.77% 4.77% 5.06% 4.62% 3.9% 3.98% 3.93%
Announcement Date 20-02-12 21-02-04 22-02-03 23-02-02 24-02-06 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
104.9 USD
Average target price
114.9 USD
Spread / Average Target
+9.58%
Consensus
  1. Stock Market
  2. Equities
  3. TW Stock
  4. Financials Tradeweb Markets Inc.