(TW) Tradeweb Markets - Ratings and Ratios
Electronic Marketplace, Trading Platform, Analytics, Execution
Dividends
| Dividend Yield | 0.44% |
| Yield on Cost 5y | 0.76% |
| Yield CAGR 5y | 5.74% |
| Payout Consistency | 98.6% |
| Payout Ratio | 14.3% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 24.1% |
| Value at Risk 5%th | 37.3% |
| Relative Tail Risk | -6.00% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.60 |
| Alpha | -23.79 |
| CAGR/Max DD | 0.65 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.401 |
| Beta | 0.426 |
| Beta Downside | 0.804 |
| Drawdowns 3y | |
|---|---|
| Max DD | 30.36% |
| Mean DD | 6.57% |
| Median DD | 4.07% |
Description: TW Tradeweb Markets October 14, 2025
Tradeweb Markets Inc. (NASDAQ:TW) operates global electronic marketplaces that enable institutional trading across rates, credit, money-markets, and equities, offering end-to-end services from pre-trade analytics to post-trade reporting.
Key performance indicators (as of FY 2023) include total revenue of $2.4 billion (≈ 12 % YoY growth), a net-profit margin of 15 %, and a 38 % increase in average daily trading volume driven primarily by its Fixed Income platform, which now processes roughly $8 trillion in notional per year. These figures reflect the company’s expanding market share in electronic fixed-income trading, where it competes with Bloomberg Trade Order Management Solutions and MarketAxess.
Sector-wide, the electronic trading market is being accelerated by three forces: (1) regulatory mandates favoring transparent, automated execution; (2) the ongoing shift of institutional investors toward low-latency, data-rich venues; and (3) a macro environment of modest interest-rate volatility that heightens demand for efficient rate and credit execution. Tradeweb’s diversified platform suite (Dealerweb, Tradeweb Direct, and hybrid voice-electronic solutions) positions it to capture incremental volume as dealers and asset managers continue digitizing their workflows.
For a deeper, data-driven assessment of Tradeweb’s valuation dynamics, you may find ValueRay’s quantitative analysis tools useful for uncovering hidden upside.
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) 85.46
| 1. Piotroski 7.0pt |
| 2. FCF Yield 4.71% |
| 3. FCF Margin 51.00% |
| 4. Debt/Equity 0.02 |
| 5. Debt/Ebitda -1.50 |
| 6. ROIC - WACC (= 4.51)% |
| 7. RoE 10.45% |
| 8. Rev. Trend 96.18% |
| 9. EPS Trend 97.84% |
What is the price of TW shares?
Over the past week, the price has changed by +0.09%, over one month by -2.02%, over three months by -9.60% and over the past year by -17.10%.
Is TW a buy, sell or hold?
- 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 | 128.8 | 19.2% |
| Analysts Target Price | 128.8 | 19.2% |
| ValueRay Target Price | 112.1 | 3.8% |
TW Fundamental Data Overview December 11, 2025
P/E Trailing = 36.5222
P/E Forward = 30.581
P/S = 11.7341
P/B = 3.6363
P/EG = 2.4448
Beta = 0.835
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 = 21.61b USD (23.38b + Debt 135.6m - CCE 1.91b)
Interest Coverage Ratio = 440.8 (Ebit TTM 930.6m / Interest Expense TTM 2.11m)
FCF Yield = 4.71% (FCF TTM 1.02b / Enterprise Value 21.61b)
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 = 2.70 (Enterprise Value 21.61b / 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 = 7.88% (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 = 7.55% (E(23.38b)/V(23.52b) * Re(7.59%) + D(135.6m)/V(23.52b) * Rd(0.38%) * (1-Tc(0.22)))
Discount Rate = 7.59% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 0.27%
[DCF Debug] Terminal Value 80.14% ; FCFE base≈929.3m ; Y1≈1.06b ; Y5≈1.48b
Fair Price DCF = 219.8 (DCF Value 25.60b / Shares Outstanding 116.5m; 5y FCF grow 17.00% → 3.0% )
EPS Correlation: 97.84 | EPS CAGR: 21.43% | SUE: 0.0 | # QB: 0
Revenue Correlation: 96.18 | Revenue CAGR: 17.60% | SUE: 0.38 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.96 | Chg30d=+0.008 | Revisions Net=-2 | Analysts=10
EPS next Year (2026-12-31): EPS=3.82 | Chg30d=+0.009 | Revisions Net=-1 | Growth EPS=+11.2% | Growth Revenue=+11.1%
Additional Sources for TW Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle