TW Stock Analysis: Tradeweb Markets | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 24.419m USD | 12M Return: 11.2% | US8926721064 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 144M
EPS Trend: 99.2%
Qual. Beats: 0
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
Tailwinds
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 25, 2026, the stock is trading at USD 122.57 with a total of 1,327,814 shares traded. Over the past week, the price has changed by +8.00%, over one month by +22.29%, over three months by +22.92% and over the past year by +11.20%.
Current recommended Stop Loss: 119.00 (which is 2.9% or 1.4 ATR below the current price).
Tradeweb Markets has received a consensus analysts rating of 3.88. Therefore, it is recommended to buy TW.
- StrongBuy: 5
- Buy: 4
- Hold: 7
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 126.1 | 2.9% |
P/E Trailing = 26.7943
P/E Forward = 25.974
P/S = 11.0772
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 = 22.5b USD (24.4b + Debt 150.3m - CCE 2.06b)
Interest Coverage Ratio = 617.7 (Ebit TTM 1.27b / Interest Expense TTM 2.05m)
EV/FCF = 21.35x (Enterprise Value 22.5b / FCF TTM 1.05b)
FCF Yield = 4.68% (FCF TTM 1.05b / Enterprise Value 22.5b)
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 = 2.73 (Enterprise Value 22.5b / 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 = 5.20% (E(24.4b)/V(24.6b) * Re(5.23%) + D(150.3m)/V(24.6b) * Rd(1.37%) * (1-Tc(0.22)))
Discount Rate = 5.23% (= 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 = 189.2 (EV 20.0b - Net Debt -1.91b = Equity 22.0b / Shares 116.0m; 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=1.01 | Chg30d=+2.06% | Revisions=+55% | Analysts=14
EPS current Year (2026-12-31): EPS=4.08 | Chg30d=+0.70% | Revisions=+18% | GrowthEPS=+17.4% | GrowthRev=+14.5%
EPS next Year (2027-12-31): EPS=4.65 | Chg30d=+1.18% | Revisions=+73% | GrowthEPS=+14.0% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: +59% (up=20, down=4)