TW
Tradeweb Markets Inc.
NASDAQ · Financial Services · Financial - Capital Markets · US
$127.92
+1.75%Income statement
| Metric | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | |||||
| Total Revenue | 2.3B | 2.1B | 1.7B | 1.3B | 1.2B |
| Cost of Revenue | 537.9M | 670.8M | 592.7M | 460.3M | 432.4M |
| Gross Profit | 1.7B | 1.4B | 1.1B | 877.9M | 756.4M |
| Operating Expenses | |||||
| R&D Expense | — | — | — | 55.8M | — |
| SG&A Expense | 493.0M | 296.1M | 235.2M | 562.1M | 164.9M |
| General & Admin Expense | 421.6M | 296.1M | 235.2M | 93.9M | 164.9M |
| Selling & Marketing Expense | — | — | — | 468.2M | — |
| Other Expenses | 234.8M | 240.4M | 220.0M | (245.2M) | 178.9M |
| Total Operating Expenses | 727.8M | 536.5M | 455.2M | 372.6M | 343.8M |
| Cost and Expenses | 1.3B | 1.2B | 1.0B | 833.0M | 776.2M |
| Operating Income (EBIT) | 1.0B | 845.1M | 678.0M | 505.3M | 412.6M |
| Non-Operating | |||||
| Interest Income | 73.2M | 68.4M | 74.0M | 67.4M | 13.7M |
| Interest Expense | 1.0M | 1.9M | 4.3M | 2.0M | 1.8M |
| Net Interest Income | 72.1M | 66.5M | 69.8M | 65.3M | 11.9M |
| Other Non-Op Income/Expense | 303.1M | 329.9M | 76.4M | 42.7M | 24.6M |
| Non-Operating Income (excl Interest) | (272.4M) | (331.8M) | (80.7M) | 9.5M | (26.4M) |
| EBT (Pre-Tax Income) | 1.3B | 1.2B | 754.4M | 548.0M | 437.1M |
| Income Tax Expense | 287.9M | 253.5M | 184.4M | 128.5M | 77.5M |
| Bottom Line | |||||
| Net Income | 909.1M | 812.8M | 501.5M | 364.9M | 309.3M |
| Earnings from Cont. Ops | 1.0B | 921.5M | 570.0M | 419.5M | 359.6M |
| Earnings from Discont. Ops | — | — | — | — | — |
| Bottom Line Net Income | 908.7M | 812.2M | 501.1M | 364.4M | 309.1M |
| Per Share | |||||
| Basic EPS | $4.27 | $3.81 | $2.36 | $1.73 | $1.50 |
| Diluted EPS | $4.26 | $3.78 | $2.34 | $1.71 | $1.48 |
| Revenue Per Share | $10.85 | $9.63 | $8.10 | $6.35 | $5.78 |
| Shares | |||||
| Basic Shares Outstanding | 210.4M | 213.2M | 213.0M | 210.8M | 205.6M |
| Diluted Shares Outstanding | 210.9M | 214.9M | 214.9M | 212.7M | 208.4M |
| Profitability Metrics | |||||
| EBITDA | 1.5B | 1.4B | 978.7M | 681.1M | 617.8M |
| D&A | 244.6M | 250.2M | 220.0M | 185.3M | 178.9M |
| EBIT | 1.3B | 1.2B | 758.7M | 495.8M | 438.9M |
As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026