Tradeweb Markets Inc.

Tradeweb Markets Inc.

TWยทNASDAQ

$100.43

+2.5%
Financial ServicesFinancial - Capital Markets

Tradeweb Markets Inc. builds and operates electronic marketplaces in the Americas, Europe, the Middle East, Africa, Asia Pacific, and internationally. The company's marketplaces facilitate trading in a range of asset classes, including rates, credit, money markets, and equities. It offers pre-trade data and analytics, trade execution, and trade processing, as well as post-trade data, analytics, and reporting services. The company provides flexible order and trading systems to institutional investors in 45 markets across 25 currencies. It also offers a range of electronic, voice, and hybrid platforms to approximately 300 dealers and financial institutions on electronic or hybrid markets with Dealerweb platform; and trading solutions for financial advisory firms and traders with Tradeweb Direct platform. The company serves a network of approximately 2,500 clients in the institutional, wholesale, and retail client sectors. Its customers include asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, and regional dealers. Tradeweb Markets Inc. was founded in 1996 and is headquartered in New York, New York. Tradeweb Markets Inc. is a subsidiary of Refinitiv Parent Limited.

At a Glance

Live Snapshot
Market Cap$21.40B
EPS3.8100
P/E Ratio26.36
Earnings Date07/30/2026
3Y+85.0%
5Y+163.0%
10Y+579.0%
3Y+111.0%
5Y+102.0%
10Y+150.0%
3Y+11.0%
5Y+484.0%
10Y+136.0%
TW

Tradeweb Markets Inc. Cash Conversion Engine

TW ยท NASDAQ
Net Income812.79M
Depreciation & Amortization250.19M
Stock-Based Compensation103.54M
Change in Working Capital84.22M
Others-175.41M
Capital Expenditures-40.55M
Free Cash Flow1.13B

Cash Flow Quality Analysis

FCF Conversion Rate

138.7%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

3.5%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+31.5%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

+$84.22M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

Tradeweb Markets Inc. Cash Flow Statement

TW โ€ข NASDAQ

Tradeweb Markets Inc. Cash Flow StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016
OPERATING ACTIVITIES
812.8M
570M
419.5M
359.6M
273.1M
218.4M
173M
159.5M
83.6M
93.2M
250.2M
220M
185.4M
178.9M
171.3M
153.8M
139.3M
81.8M
68.6M
80.9M
92.3M
24.6M
99.4M
39.2M
72.7M
53.8M
-18.1M
3.6M
-950K
-6.3M
103.5M
89.6M
65.1M
66.6M
51.9M
39.3M
49.8M
19.6M
26.1M
0.0
-175.4M
1.1M
13.1M
1M
0.0
0.0
0.0
21.1M
58.5M
26.2M
(0.0)
(152M)
(28.6M)
(13.2M)
(3.9M)
(19.1M)
(43.8M)
(8.2M)
(6.3M)
(6.7M)
84.2M
-7.6M
-36.4M
-12.5M
9M
-22M
-33.1M
11.4M
14.7M
-22.1M
1.2B
897.7M
746.1M
632.8M
578M
443.2M
311M
277.4M
224.6M
171.8M
INVESTING ACTIVITIES
-40.6M
-41M
-18.5M
-23.2M
-16.9M
-11.5M
-15.8M
-42.1M
-40.6M
-35.3M
(0.0)
-860.1M
-69.7M
(0.0)
-207.8M
-20M
(0.0)
(0.0)
(66K)
-15.2M
(0.0)
(0.0)
-1.3M
(0.0)
(0.0)
-20M
(0.0)
(0.0)
-5M
(0.0)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
27.2M
0.0
-86M
-68.1M
-43.2M
-36.9M
-34.5M
-11M
-28.7M
-26.7M
-27.2M
-25.4M
-126.5M
-969.2M
-132.8M
-60.1M
-259.1M
-62.5M
-44.5M
-42.1M
-45.6M
-50.6M
FINANCING ACTIVITIES
-104.2M
-59.1M
-35.2M
-99.3M
-75.7M
626.3M
2B
0.0
0.0
0.0
-102.3M
-85.2M
-75.9M
-66M
-64.6M
-58.1M
-155.9M
-175.4M
-152M
-130M
-104.2M
-59.1M
-35.2M
-99.3M
-75.7M
(0.0)
(0.0)
-175.4M
-152M
-130M
-101M
-146M
-57.1M
-111.4M
4.1M
-620.9M
-2B
0.0
-1.5M
-521K
-307.5M
-290.3M
-168.2M
-276.7M
-136.1M
-52.7M
-218.1M
-175.4M
-153.5M
-130.5M
CASH FLOW SUMMARY
10.8M
-4.5M
4.1M
-10.8M
-2M
2.6M
2M
-2.4M
3.2M
-6.2M
744.4M
-366.2M
449.2M
285.2M
180.8M
330.6M
50.4M
57.5M
28.7M
-15.4M
1.3B
1.7B
1.3B
973M
792.3M
461.7M
411.3M
353.8M
325.1M
340.5M
2.1B
1.3B
1.7B
1.3B
973M
792.3M
461.7M
411.3M
353.8M
325.1M
1.1B
856.8M
684.3M
572.7M
526.7M
400.7M
266.5M
235.3M
184M
136.5M

SEC Filings

TW - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

May 20, 2026
May 19, 2026
2026
10-Q

10-Q 2026 Q1

Q1

April 29, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

April 29, 2026
April 29, 2026
2026
DEF 14A

DEF 14A 2026

N/A

March 26, 2026
May 19, 2026
2026
10-K

10-K 2025 FY

FY

February 05, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

February 05, 2026
February 05, 2026
2026
8-K

8-K 2025

N/A

January 06, 2026
December 31, 2025
2025
10-Q

10-Q 2025 Q3

Q3

October 30, 2025
September 30, 2025
2025
8-K

8-K 2025

N/A

October 30, 2025
October 29, 2025
2025
8-K

8-K 2025

N/A

July 30, 2025
July 30, 2025
2025
Showing 1 to 10 of 109 filings