Tradeweb Markets Inc.(TW)— Stock Profile, AI Score & Financials
Financials · Nasdaq · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
Tradeweb Markets Inc. (TW) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores TW at 76.9/100 on a 32-signal composite quality model, placing it at rank #78 of 2,960 stocks — the top 5% of the AI-ranked universe. TW scores in the top quartile across profitability (97.1), free cash flow (95.6), balance sheet strength (87.4). Shareholder dilution risk is elevated at 24.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Tradeweb Markets Inc. reports quarterly revenue of $558.9M, net income of $181.3M, an operating margin of 43.9%. Top institutional holders of TW by reported 13-F value include PRICE T ROWE ASSOCIATES, BlackRock, WELLINGTON MANAGEMENT GROUP LLP, based on the most recent SEC filings. TW trades on the Nasdaq exchange and files with the SEC under CIK 1758730. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TW daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Tradeweb Markets Inc. directly from SEC EDGAR.
AI Quality Score
76.9/100
AI Rank
#78
Revenue
$558.9M
Net Income
$181.3M
Free Cash Flow
$385.8M
Operating Margin
43.9%
TW key financials by period
Tradeweb Markets Inc. reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$2.1B
$812.8M
40.7%
FY 2024
10-K
$1.7B
$501.5M
39.3%
FY 2023
10-K
$1.3B
$364.9M
37.8%
FY 2022
10-K
$1.2B
$309.3M
34.7%
FY 2021
10-K
$1.1B
$226.8M
33.3%
FY 2020
10-K
$892.7M
$166.3M
29.5%
Institutions holding TW
Institutional investors reporting a position in Tradeweb Markets Inc. on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue rose 9.0% YoY to $558.9M on rates derivatives, mortgages and credit, while flat total expenses (+0.2%) drove operating income up 22.7% to $245.3M.
Biggest Revenue Drivers
Transaction fees and commissions$465.3M+8.3% YoY
Higher revenues for rates derivatives, mortgages, U.S. and European corporate bonds, equity derivatives, ETFs, and higher ICD Portal money market balances
Subscription fees$61.7M
Fees for granting clients access to the platform for trading and market data, generally charged on a fixed price basis
Biggest Revenue Drivers
Total revenue: $558.9M+9.0% YoY
Transaction fees and commissions$465.3M+8.3% YoY
Higher revenues for rates derivatives, mortgages, U.S. and European corporate bonds, equity derivatives, ETFs, and higher ICD Portal money market balances
Subscription fees$61.7M
Fees for granting clients access to the platform for trading and market data, generally charged on a fixed price basis
LSEG market data fees$26.5M
Amendments to the LSEG market data license agreement effective November 2025 included higher overall fees and more frequent historical data set deliveries
Other$5.4M+2.8% YoY
Includes $1.7 million of Validator Revenue earned in Canton Coins for Super Validator and Validator services on the Canton Network
Largest Expense Items
Employee compensation and benefits$172.5M+1.6% YoY
Higher headcount (1,613 employees) and related salaries, benefits and stock-based compensation, partially offset by lower incentive compensation tied to financial performance
Depreciation and amortization$61.5M-2.5% YoY
Relatively flat; amortization of acquired and internally developed software and other intangible assets
Technology and communications$42.0M+38.9% YoY
Increased investment in data strategy and infrastructure plus higher data fees on higher trading volumes; $5.2M from a step-up that began in second-half 2025
General and administrative$16.6M-44.6% YoY
A $17.2 million decrease in foreign exchange losses, partially offset by higher travel and entertainment costs
Margins: The filing reports no gross margin, but total expenses were essentially flat (+0.2%) against 9.0% revenue growth, lifting operating income 22.7% to $245.3 million from $199.9 million.
Watch Items from the Filing
Retail client sector revenue fell 12.0% to $33.1M from $37.6M, driven primarily by lower revenues for municipals and U.S. corporate bonds.
Blended average variable fees per million fell to $2.14 from $2.30 (-7.2%), on mix shifts toward lower-fee-capture swaps under one year and credit derivatives.
LSEG holds 90.0% of combined voting power and 51.2% economic interest; LSEG market data fees were $26.5M of the quarter's revenue.
Canton Coin holdings of $230.0M produced a $15.1M unrealized loss this quarter; 1.3 billion coins valued at $181.6M are transfer-restricted under lockup.
Repurchased 1,684,901 shares at $98.35 average for $165.7M under the 2026 program; $334.3M of the $500.0M authorization remains available.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
