TW Stock Analysis: Tradeweb Markets | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 22.169m USD | 12M Return: -18.2% | US8926721064 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 133M
EPS Trend: 99.2%
Qual. Beats: 0
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.3 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Tradeweb Markets Inc. (TW) operates electronic marketplaces that facilitate trading across multiple asset classes, including rates, credit, equities, and money markets, serving institutional, wholesale, retail, and corporate clients such as asset managers, hedge funds, banks, and central banks. The companys platform spans the full trade lifecycle, offering pre-trade data and analytics (e.g., AI-Pricing, market data integrations), trade execution across a wide range of protocols (including request-for-quote, central limit order book, portfolio trading, and voice), trade processing, and post-trade services such as transaction cost analysis and regulatory reporting.
Founded in 1996 and headquartered in New York, Tradeweb is majority-owned by Refinitiv Parent Limited, which is itself controlled by the London Stock Exchange Group (LSEG). The company operates within the Financial Exchanges & Data sub-industry, a sector characterized by network-based business models where scale, multi-asset connectivity, and data products are central to competitive positioning. The company went public in April 2019.
- Rates trading volumes swing with Federal Reserve policy shifts
- Credit market share gains pressure Bloomberg and MarketAxess
- Equity ETF platform expansion accelerates client growth
| Net Income: 897.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 0.60 > 1.0 |
| NWC/Revenue: 89.56% < 20% (prev 82.84%; Δ 6.72% < -1%) |
| CFO/TA 0.14 > 3% & CFO 1.14b > Net Income 897.2m |
| Net Debt (-1.91b) to EBITDA (1.52b): -1.26 < 3 |
| Current Ratio: 6.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (212.8m) vs 12m ago -1.01% < -2% |
| Gross Margin: 68.14% > 18% (prev 65.94%; Δ 2.20% > 0.5%) |
| Asset Turnover: 27.06% > 50% (prev 24.02%; Δ 3.04% > 0%) |
| Interest Coverage Ratio: 617.7 > 6 (EBIT TTM 1.27b / Interest Expense TTM 2.05m) |
| A: 0.24 (Total Current Assets 2.37b - Total Current Liabilities 391.2m) / Total Assets 8.25b |
| B: 0.20 (Retained Earnings 1.69b / Total Assets 8.25b) |
| C: 0.16 (EBIT TTM 1.27b / Avg Total Assets 8.15b) |
| D: 7.27 (Book Value of Equity 6.63b / Total Liabilities 912.7m) |
| Altman-Z'' = 10.92 = AAA |
| DSRI: 0.34 (Receivables 309.4m/807.9m, Revenue 2.21b/1.93b) |
| GMI: 0.97 (GM 65.94% / 68.14%) |
| AQI: 1.03 (AQ_t 0.70 / AQ_t-1 0.68) |
| SGI: 1.14 (Revenue 2.21b / 1.93b) |
| TATA: -0.03 (NI 897.2m - CFO 1.14b) / TA 8.25b) |
| Beneish M = -3.49 (Cap -4..+1) = AA |
As of August 15, 2026, the stock is trading at USD 106.29 with a total of 836,604 shares traded. Over the past week, the price has changed by +3.58%, over one month by +7.55%, over three months by -3.04% and over the past year by -18.21%.
Current recommended Stop Loss: 101.50 (which is 4.5% or 1.5 ATR below the current price).
Tradeweb Markets has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy TW.
- StrongBuy: 6
- Buy: 5
- Hold: 4
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 123.9 | 16.5% |
P/E Trailing = 24.6091
P/E Forward = 29.5858
P/S = 10.0565
P/B = 3.2855
P/EG = 1.8503
Revenue TTM = 2.21b USD
EBIT TTM = 1.27b USD
EBITDA TTM = 1.52b USD
Long Term Debt = unknown (0.0)
Short Term Debt = 150.3m USD (from shortTermDebt, last quarter)
Debt = 150.3m USD (from shortLongTermDebtTotal, last quarter) (leases 150.3m already included)
Net Debt = -1.91b USD (calculated: Debt 150.3m - CCE 2.06b)
Enterprise Value = 20.3b USD (22.2b + Debt 150.3m - CCE 2.06b)
Interest Coverage Ratio = 617.7 (Ebit TTM 1.27b / Interest Expense TTM 2.05m)
EV/FCF = 19.21x (Enterprise Value 20.3b / FCF TTM 1.05b)
FCF Yield = 5.20% (FCF TTM 1.05b / Enterprise Value 20.3b)
FCF Margin = 47.79% (FCF TTM 1.05b / Revenue TTM 2.21b)
Net Margin = 40.66% (Net Income TTM 897.2m / Revenue TTM 2.21b)
Gross Margin = 68.14% ((Revenue TTM 2.21b - Cost of Revenue TTM 702.9m) / Revenue TTM)
Gross Margin QoQ = 67.65% (prev 67.98%)
Tobins Q-Ratio = 2.46 (Enterprise Value 20.3b / Total Assets 8.25b)
Interest Expense / Debt = 1.37% (Interest Expense 2.05m / Debt 150.3m)
Taxrate = 21.69% (281.9m / 1.30b)
NOPAT = 993.5m (EBIT 1.27b * (1 - 21.69%))
Current Ratio = 6.05 (Total Current Assets 2.37b / Total Current Liabilities 391.2m)
Debt / Equity = 0.02 (Debt 150.3m / totalStockholderEquity, last quarter 6.63b)
Debt / EBITDA = -1.26 (Net Debt -1.91b / EBITDA 1.52b)
Debt / FCF = -1.81 (Net Debt -1.91b / FCF TTM 1.05b)
Total Stockholder Equity = 6.51b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.00% (Net Income 897.2m / Total Assets 8.25b)
RoE = 13.78% (Net Income TTM 897.2m / Total Stockholder Equity 6.51b)
RoCE = 19.49% (EBIT 1.27b / Capital Employed (Equity 6.51b + L.T.Debt 0.0))
RoIC = 12.58% (NOPAT 993.5m / Invested Capital 7.90b)
WACC = 5.62% (E(22.2b)/V(22.3b) * Re(5.65%) + D(150.3m)/V(22.3b) * Rd(1.37%) * (1-Tc(0.22)))
Discount Rate = 5.65% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -67.78 | Cagr: -0.39%
[DCF] Terminal Value 76.37% ; FCFF base≈1.03b ; Y1≈1.09b ; Y5≈1.30b
[DCF] Fair Price = 192.5 (EV 20.0b - Net Debt -1.91b = Equity 22.0b / Shares 114.0m; r=8.35% [WACC [floored]]; 5y FCF grow 7.44% → 2.50% )
EPS Correlation: 99.20 | EPS CAGR: 23.76% | SUE: 0.62 | # QB: 0
Revenue Correlation: 99.14 | Revenue CAGR: 23.35% | SUE: -0.10 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.99 | Chg30d=-0.92% | Revisions=+0% | Analysts=13
EPS current Year (2026-12-31): EPS=4.04 | Chg30d=-0.75% | Revisions=-19% | GrowthEPS=+16.5% | GrowthRev=+14.3%
EPS next Year (2027-12-31): EPS=4.59 | Chg30d=-0.07% | Revisions=-7% | GrowthEPS=+13.6% | GrowthRev=+11.5%
[Analyst] Revisions Ratio: -11% (up=15, down=19)