TW Stock Analysis: Tradeweb Markets | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 23.201m USD | 12M Return: 2.6% | US8926721064 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 134M
EPS Trend: 99.2%
Qual. Beats: 0
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.5 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. (NASDAQ: 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 worldwide. The platform offers pre-trade data and analytics, trade execution tools (such as request-for-quote, portfolio trading, and central limit order books), and post-trade processing, analytics, and reporting services. Founded in 1996 and headquartered in New York, Tradeweb is a subsidiary of Refinitiv Parent Limited. As a large-cap stock in the financial exchanges and data sub-industry, it operates within the broader financial sector and generates revenue primarily through transaction fees and data subscriptions tied to electronic fixed-income and derivatives trading volumes.
- Fed rate volatility drives rates trading volume
- Credit portfolio trading adoption accelerates revenue growth
- Equities platform faces competition from Bloomberg and ICE
| 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 October 11, 2026, the stock is trading at USD 111.08 with a total of 973,895 shares traded. Over the past week, the price has changed by +8.67%, over one month by +7.91%, over three months by +14.52% and over the past year by +2.63%.
Current recommended Stop Loss: 107.20 (which is 3.5% or 1.4 ATR below the current price).
Tradeweb Markets has no consensus analysts rating.
| Analysts Target Price | 123.7 | 11.3% |
P/E Trailing = 25.6938
P/E Forward = 25.974
P/S = 10.5249
P/B = 3.1885
P/EG = 1.6235
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 = 21.3b USD (23.2b + Debt 150.3m - CCE 2.06b)
Interest Coverage Ratio = 617.7 (Ebit TTM 1.27b / Interest Expense TTM 2.05m)
EV/FCF = 20.19x (Enterprise Value 21.3b / FCF TTM 1.05b)
FCF Yield = 4.95% (FCF TTM 1.05b / Enterprise Value 21.3b)
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 = 2.58 (Enterprise Value 21.3b / 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 = 5.58% (E(23.2b)/V(23.4b) * Re(5.61%) + D(150.3m)/V(23.4b) * Rd(1.37%) * (1-Tc(0.22)))
Discount Rate = 5.61% (= 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=1.00 | Chg30d=+0.68% | Revisions=+29% | Analysts=14
EPS current Year (2026-12-31): EPS=4.06 | Chg30d=+0.06% | Revisions=+0% | GrowthEPS=+17.1% | GrowthRev=+14.3%
EPS next Year (2027-12-31): EPS=4.63 | Chg30d=+0.67% | Revisions=+0% | GrowthEPS=+14.0% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: +13% (up=7, down=5)