(TW) Tradeweb Markets - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US8926721064

Electronic Marketplaces, Rates, Credit, Money Markets, Equities

Financial Exchanges & Data
Market Cap in USD: 23,203m
IPO / Inception: 2019-04-04
Return 12m vs S&P 500: -34.3%

EPS (Earnings per Share)

EPS (Earnings per Share) of TW over the last years for every Quarter: "2020-12": 0.34, "2021-03": 0.43, "2021-06": 0.39, "2021-09": 0.39, "2021-12": 0.42, "2022-03": 0.48, "2022-06": 0.47, "2022-09": 0.45, "2022-12": 0.49, "2023-03": 0.54, "2023-06": 0.52, "2023-09": 0.55, "2023-12": 0.64, "2024-03": 0.71, "2024-06": 0.7, "2024-09": 0.75, "2024-12": 0.76, "2025-03": 0.86, "2025-06": 0.87, "2025-09": 0.87, "2025-12": 0,
EPS CAGR: -44.45%
EPS Trend: 24.0%
Last SUE: -4.00
Qual. Beats: 0

Revenue

Revenue of TW over the last years for every Quarter: 2020-12: 233.076, 2021-03: 273.399, 2021-06: 260.84, 2021-09: 265.325, 2021-12: 276.883, 2022-03: 311.486, 2022-06: 297.138, 2022-09: 287.115, 2022-12: 293.042, 2023-03: 329.249, 2023-06: 310.613, 2023-09: 328.357, 2023-12: 370, 2024-03: 408.739, 2024-06: 404.951, 2024-09: 448.915, 2024-12: 463.344, 2025-03: 509.677, 2025-06: 512.971, 2025-09: 508.598, 2025-12: null,
Rev. CAGR: 17.60%
Rev. Trend: 96.2%
Last SUE: 0.38
Qual. Beats: 0

Dividends

Dividend Yield 0.46%
Yield on Cost 5y 0.76%
Yield CAGR 5y 10.67%
Payout Consistency 98.8%
Payout Ratio 14.3%
Risk via 5d forecast
Volatility 26.7%
Value at Risk 5%th 41.5%
Relative Tail Risk -5.43%
Reward TTM
Sharpe Ratio -0.89
Alpha -31.82
CAGR/Max DD 0.45
Character TTM
Hurst Exponent 0.377
Beta 0.418
Beta Downside 0.752
Drawdowns 3y
Max DD 30.37%
Mean DD 7.26%
Median DD 4.66%

Description: TW Tradeweb Markets December 17, 2025

Tradeweb Markets Inc. (NASDAQ:TW) operates global electronic marketplaces that enable institutional participants to trade across rates, credit, money-markets, and equity products. Its suite includes pre-trade analytics, execution and processing services, and post-trade reporting, delivered via flexible order-routing tools for asset managers, hedge funds, banks, dealers, and advisory firms.

Key performance indicators from the most recent fiscal year show revenue of roughly $1.4 billion, up about 13 % year-over-year, and net income of $250 million, reflecting strong scaling of its fixed-income electronic trading volumes, which now exceed $1.2 trillion daily. The platform’s market-share in U.S. Treasury electronic trading is estimated at ~30 %, and its Dealerweb and Tradeweb Direct solutions support both pure electronic and hybrid voice-plus-electronic workflows.

Demand for Tradeweb’s services is driven by higher interest-rate volatility, which raises the value of real-time pricing and liquidity-aggregation tools, and by a broader industry shift toward digital, transparent trading venues mandated by post-2008 regulatory reforms. For a deeper dive into Tradeweb’s valuation metrics and scenario analysis, you might explore the ValueRay platform.

Piotroski VR‑10 (Strict, 0-10) 7.0

Net Income (630.0m TTM) > 0 and > 6% of Revenue (6% = 119.7m TTM)
FCFTA 0.13 (>2.0%) and ΔFCFTA 1.85pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 82.69% (prev 72.90%; Δ 9.79pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.14 (>3.0%) and CFO 1.09b > Net Income 630.0m (YES >=105%, WARN >=100%)
Net Debt (-1.77b) to EBITDA (1.18b) ratio: -1.50 <= 3.0 (WARN <= 3.5)
Current Ratio 4.11 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (215.0m) change vs 12m ago -0.05% (target <= -2.0% for YES)
Gross Margin 66.72% (prev 65.31%; Δ 1.41pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 26.02% (prev 22.25%; Δ 3.76pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 440.8 (EBITDA TTM 1.18b / Interest Expense TTM 2.11m) >= 6 (WARN >= 3)

Altman Z'' 4.14

(A) 0.21 = (Total Current Assets 2.18b - Total Current Liabilities 529.9m) / Total Assets 8.00b
(B) 0.18 = Retained Earnings (Balance) 1.41b / Total Assets 8.00b
(C) 0.12 = EBIT TTM 930.6m / Avg Total Assets 7.67b
(D) 1.33 = Book Value of Equity 1.42b / Total Liabilities 1.06b
Total Rating: 4.14 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 81.96

1. Piotroski 7.0pt
2. FCF Yield 4.75%
3. FCF Margin 51.00%
4. Debt/Equity 0.02
5. Debt/Ebitda -1.50
6. ROIC - WACC (= 4.64)%
7. RoE 10.45%
8. Rev. Trend 96.18%
9. EPS Trend 23.96%

What is the price of TW shares?

As of January 11, 2026, the stock is trading at USD 103.86 with a total of 1,320,443 shares traded.
Over the past week, the price has changed by -2.20%, over one month by -2.94%, over three months by -4.41% and over the past year by -20.47%.

Is TW a buy, sell or hold?

Tradeweb Markets has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy TW.
  • Strong Buy: 6
  • Buy: 5
  • Hold: 4
  • Sell: 1
  • Strong Sell: 0

What are the forecasts/targets for the TW price?

Issuer Target Up/Down from current
Wallstreet Target Price 127.9 23.1%
Analysts Target Price 127.9 23.1%
ValueRay Target Price 110 6%

TW Fundamental Data Overview January 06, 2026

P/E Trailing = 36.2457
P/E Forward = 30.303
P/S = 11.6453
P/B = 3.6087
P/EG = 2.4263
Beta = 0.834
Revenue TTM = 1.99b USD
EBIT TTM = 930.6m USD
EBITDA TTM = 1.18b USD
Long Term Debt = 135.6m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 135.6m USD (from shortTermDebt, last quarter)
Debt = 135.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.77b USD (from netDebt column, last quarter)
Enterprise Value = 21.43b USD (23.20b + Debt 135.6m - CCE 1.91b)
Interest Coverage Ratio = 440.8 (Ebit TTM 930.6m / Interest Expense TTM 2.11m)
EV/FCF = 21.07x (Enterprise Value 21.43b / FCF TTM 1.02b)
FCF Yield = 4.75% (FCF TTM 1.02b / Enterprise Value 21.43b)
FCF Margin = 51.00% (FCF TTM 1.02b / Revenue TTM 1.99b)
Net Margin = 31.59% (Net Income TTM 630.0m / Revenue TTM 1.99b)
Gross Margin = 66.72% ((Revenue TTM 1.99b - Cost of Revenue TTM 663.8m) / Revenue TTM)
Gross Margin QoQ = 67.56% (prev 66.92%)
Tobins Q-Ratio = 2.68 (Enterprise Value 21.43b / Total Assets 8.00b)
Interest Expense / Debt = 0.38% (Interest Expense 522.0k / Debt 135.6m)
Taxrate = 21.91% (59.1m / 269.6m)
NOPAT = 726.7m (EBIT 930.6m * (1 - 21.91%))
Current Ratio = 4.11 (Total Current Assets 2.18b / Total Current Liabilities 529.9m)
Debt / Equity = 0.02 (Debt 135.6m / totalStockholderEquity, last quarter 6.28b)
Debt / EBITDA = -1.50 (Net Debt -1.77b / EBITDA 1.18b)
Debt / FCF = -1.74 (Net Debt -1.77b / FCF TTM 1.02b)
Total Stockholder Equity = 6.03b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.22% (Net Income 630.0m / Total Assets 8.00b)
RoE = 10.45% (Net Income TTM 630.0m / Total Stockholder Equity 6.03b)
RoCE = 15.10% (EBIT 930.6m / Capital Employed (Equity 6.03b + L.T.Debt 135.6m))
RoIC = 12.05% (NOPAT 726.7m / Invested Capital 6.03b)
WACC = 7.41% (E(23.20b)/V(23.34b) * Re(7.45%) + D(135.6m)/V(23.34b) * Rd(0.38%) * (1-Tc(0.22)))
Discount Rate = 7.45% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 0.27%
[DCF Debug] Terminal Value 82.02% ; FCFF base≈929.3m ; Y1≈1.06b ; Y5≈1.48b
Fair Price DCF = 262.2 (EV 28.77b - Net Debt -1.77b = Equity 30.54b / Shares 116.5m; r=7.41% [WACC]; 5y FCF grow 17.00% → 2.90% )
EPS Correlation: 23.96 | EPS CAGR: -44.45% | SUE: -4.0 | # QB: 0
Revenue Correlation: 96.18 | Revenue CAGR: 17.60% | SUE: 0.38 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.95 | Chg30d=-0.012 | Revisions Net=-2 | Analysts=11
EPS next Year (2026-12-31): EPS=3.82 | Chg30d=-0.010 | Revisions Net=-4 | Growth EPS=+11.2% | Growth Revenue=+11.0%

Additional Sources for TW Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle