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Tradeweb Markets Inc. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Tradeweb Markets Inc. holds $8.3B in total assets. Shareholders' equity is $6.6B against $142.8M in total debt. Cash and equivalents total $1.9B. Based on the Q1 2026 filing.

Total Assets$8.3BTotal Stockholders Equity$6.6BCash And Equivalents$1.9B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$23.9B
P/E Ratio27.53
ROE13.85%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$95.3M$122.1M$146.8M$187.4M$184.0M$151.6M
Accrued compensation$223.0M$103.5M$158.4M$211.0M$251.2M$110.9M
Accrued expenses$100.0K———$200.0K—
Contract liabilities$30.8M$47.0M$40.6M$36.3M$29.0M$54.2M
Derivative Liabilities - Fair Value—$570.0K$12.4M$11.6M$6.7M—
Lease Liability Payments - 2020 (Remaining Three Months)—$9.3M$6.4M$3.2M—$15.9M
Operating Lease Liability Payments - 2024 (Lessee)$9.6M$9.1M$10.1M$20.8M$22.3M$17.7M
Operating Lease Liability Payments - 2025 (Lessee)$3.6M$3.4M$3.4M$13.3M$14.2M$10.1M
Lease Liability Payments - Due Year Two$9.6M$9.1M$10.1M$20.8M$22.3M$17.7M
Lease Liability Payments - Due Year Three$9.0M$3.7M$4.2M$14.5M$16.0M$15.5M
Lease Liability Payments - Due Year Four$3.6M$3.4M$3.4M$13.3M$14.2M$10.1M
Lease Liability Payments - Remainder of Fiscal Year$13.4M$9.7M$10.9M$17.0M$18.3M$23.9M
Operating lease liabilities, current$35.7M$32.3M$32.3M$135.6M$139.2M$142.8M
Operating Lease Liability Payments Due$39.2M$35.3M$35.2M$192.8M$195.0M$197.3M
Operating Lease Liability - Undiscounted Excess Amount$3.4M$3.0M$2.9M$57.1M$55.8M$54.4M
Payables to Broker Dealers and Clearing Organizations$67.8M$135.8M$543.1M$91.6M$8.6M$131.3M

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$4.8B$4.8B$4.8B$4.9B$4.9B$4.9B
Accumulated other comprehensive income (loss)-$10.0M-$1.8M$7.0M$7.7M$10.9M$7.9M
Common Stock Shares Outstanding$37.8M———$28.8M—
Convertible Preferred Stock Authorized Shares250M250M250M250M250M250M
Convertible Preferred Stock Issued Shares000000
Convertible Preferred Stock Outstanding Shares000000
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Noncontrolling interests$598.7M$608.3M$628.5M$654.3M$681.5M$689.4M
Preferred stock$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Retained earnings$996.8M$1.1B$1.2B$1.4B$1.6B$1.7B
Share-Based Payment Award Options Outstanding - Number343K———331K—
Total liabilities and stockholders' equity$7.3B$7.4B$8.1B$8.0B$8.2B$8.3B
Total stockholders' equity$5.8B$5.9B$6.1B$6.3B$6.5B$6.6B
Weighted Average Exercise Price of Outstanding Options$20.59———$20.59—

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Available-for-Sale Debt Securities - Amortized Cost$10.4M$10.5M$10.6M$10.7M$10.9M$11.0M
Allowance for Doubtful Accounts$447.0K$288.0K$297.0K$298.0K$587.0K$366.0K
Allowance for Doubtful Accounts Receivable (Current)$447.0K$288.0K$297.0K$298.0K$587.0K$366.0K
Cash and cash equivalents$1.3B$1.3B$1.6B$1.9B$2.1B$1.9B
Cash, Cash Equivalents, and Marketable Securities$10.4M$13.6M$14.1M$20.2M$24.9M$26.1M
Deposits with clearing organizations$54.7M$102.0M$66.9M$64.9M$58.3M$57.3M
Digital Assets$852.0K$5.4M$25.2M$55.8M$242.7M$243.5M
Derivative assets$7.8M————$3.0M
Other Receivables$8.1M$1.1M$736.0K$547.0K$8.3M$3.2M
Restricted cash$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allowance for credit losses$0.0—$0.0$0.0$0.0$0.0
Gross loans————$24.4M—
Accumulated Amortization on Capitalized Software$295.3M———$387.1M—
Capitalized Computer Software, Net$592.0M$288.4M$283.2M$278.0M$657.3M$264.1M
Deferred tax assets$2.3M$42.7M$42.9M$44.1M$50.0M$51.0M
Deferred Tax Assets and Other Non-Current Assets$6.0M———$614.0K—
Deferred Tax Assets - Investments$516.7M———$415.0M—
Deferred Tax Assets - Tax Credit Carryforwards$4.7M———$5.9M—
Equity method investments$17.8M$17.8M$32.4M$5.0M$44.8M$24.1M
Equity Securities Without Readily Determinable Fair Value - Cumulative Downward Adjustments$17.8M$17.8M$32.4M—$44.8M$22.7M
Equity Securities Without Readily Determinable Fair Value - Cumulative Impairment Loss—————$22.7M
Equity Securities Without Readily Determinable Fair Value - Cumulative Upward Adjustments—————$4.3M
Goodwill$3.2B$3.2B$3.2B$3.2B$3.2B$3.2B
Equity securities—————$26.6M
Intangible assets, net$957.8M$1.2B$1.2B$1.2B$1.1B$1.1B
Investments - Amortized Cost Basis$17.8M$17.8M$32.4M$10.7M$44.8M$11.0M
Long-term investments$11.2M———$292.0M$296.2M
Net Investment in Lease$33.6M$29.8M$29.6M$121.8M$123.1M$124.4M
Capitalized software licenses$296.7M$288.4M$283.2M$278.0M$270.3M$264.1M
Crypto Asset, Fair Value$852.0K$5.4M$25.2M$55.8M$242.7M$243.5M
Deferred tax assets$659.2M$660.7M$651.8M$641.4M$568.8M$583.0M
Other intangible assets—net$1.3B$1.2B$1.2B$1.2B$1.1B$1.1B
Investments$11.2M———$292.0M$296.2M
Operating lease right-of-use assets$33.6M$29.8M$29.6M$121.8M$123.1M$124.4M
Other Assets$96.2M$132.9M$182.2M$215.1M$140.2M$198.5M
Operating lease right-of-use assets$0.0$29.8M$29.6M$121.8M$123.1M$124.4M
Operating Lease Right-of-Use Assets in Other Assets$33.6M$29.8M$29.6M$121.8M$123.1M$124.4M
Other non-current assets$96.2M$132.9M$182.2M$215.1M$140.2M$198.5M
Accumulated depreciation$666.8M$701.4M$736.0M$770.6M$799.7M$828.8M
Property and equipment, net$46.0M$43.8M$40.7M$75.1M$78.2M$79.4M
Software and Technology Licenses, Net$592.0M$288.4M$283.2M$278.0M$657.3M$264.1M
Tax Credit Carryforward Valuation Allowance$1.7M———$3.0M—
Total assets$7.3B$7.4B$8.1B$8.0B$8.2B$8.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Components—————$4.3M
Cumulative Cost Basis$10.4M$10.5M$10.6M$10.7M$10.9M$11.0M
Gross Assets/Liabilities—$570.0K$12.4M$11.6M$6.7M—
Accounts receivable, net of allowance for credit losses of $366 and $587 at March 31, 2026 and December 31, 2025, respectively$222.3M$271.5M$264.8M$271.2M$257.8M$351.0M
Accounts Receivable, Allowance for Credit Loss$447.0K$288.0K$297.0K$298.0K$587.0K$366.0K
Total$10.4M$10.5M$10.6M$10.7M$10.9M$11.0M
Available for sale investments$10.4M$13.6M$14.1M$20.2M$24.9M$26.1M
Broker-dealer, self-funded remaining difference between the fail to deliver and fail to receive—$31.0M$400.0K$12.0M$5.3M$600.0K
Contract with Customer, Liability$30.8M$47.0M$40.6M$36.3M$29.0M$54.2M
Debt Securities, Available-for-Sale, Allowance for Credit Loss$0.0—$0.0$0.0$0.0$0.0
Deferred Tax Liabilities, Gross$27.0M———$22.6M—
Deferred income taxes$42.9M$42.7M$42.9M$44.1M$50.0M$51.0M
Deferred Tax Assets, Gross$644.9M———$544.5M—
Deferred Tax Assets, Net$616.3M———$518.8M—
Deferred Tax Assets, Net of Valuation Allowance$643.3M———$541.4M—
Deferred Tax Assets, Operating Loss Carryforwards$2.3M———$930.0K—
Compensation and benefits$74.5M———$106.9M—
Tax Receivable Agreement – Interest$16.9M———$15.2M—
Transferable tax credits$23.9M———$0.0—
Deferred Tax Assets, Valuation Allowance$1.7M———$3.0M—
Deferred Tax Liabilities Goodwill And Intangible Assets Goodwill$27.0M———$22.6M—
Derivative Liability—$570.0K$12.4M$11.6M$6.7M—
Equity method investments (Note 11)$0.0——$5.0M$4.5M$24.1M
Unfunded capital commitment———$5.0M$5.0M$5.0M
Finite-Lived Intangible Assets, Accumulated Amortization$666.8M$701.4M$736.0M$770.6M$799.7M$828.8M
2027$132.9M———$116.3M—
Income Tax Examination Penalties Accrued$100.0K———$200.0K—
Lessee Operating Lease Liability Payments Due$39.2M$35.3M$35.2M$192.8M$195.0M$197.3M
Thereafter—$221.0K$234.0K$124.1M—$114.1M
Lessee Operating Lease Liability Undiscounted Excess Amount$3.4M$3.0M$2.9M$57.1M$55.8M$54.4M
Loans Receivable Fair Value Disclosure————$24.4M—
Noncontrolling interests in subsidiaries$598.7M$608.3M$628.5M$654.3M$681.5M$689.4M
Long-Lived Assets$4.8B$4.8B$4.7B$4.8B$4.8B$4.7B
Other receivables$8.1M$1.1M$736.0K$547.0K$8.3M$3.2M
Preferred Stock, Par or Stated Value Per Share$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Authorized$250.0M$250.0M$250.0M$250.0M$250.0M$250.0M
Preferred Stock, Shares Issued$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Fails to deliver$67.8M$135.8M$543.1M$91.6M$8.6M$131.3M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number$343.0K———$331.0K—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price$20.6———$20.6—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value$37.8M———$28.8M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price$1.93———$1.93—
Tax receivable agreement liability$372.8M$369.8M$351.4M$351.4M$336.5M$335.8M
Unrecognized tax benefits$19.6M———$29.9M—
Remainder of Fiscal Year 2024—$9.3M$6.4M$3.2M—$15.9M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred tax liabilities$27.0M———$22.6M—
Operating Lease Liability Payments - 2027 (Lessee)$3.3M$3.7M$4.2M$14.5M$10.1M$15.5M
Operating Lease Liability Payments - 2028 (Lessee)$3.6M$3.4M$3.4M$13.3M$14.2M$10.1M
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $159 and $183)$95.3M$122.1M$146.8M$187.4M$184.0M$151.6M
Payables to customers and broker-dealers$67.8M$104.8M$542.7M$79.7M$3.4M$130.7M
Operating Lease Liabilities (Total)$35.7M$32.3M$32.3M$135.6M$139.2M$142.8M
Other non-current liabilities$763.0K$574.0K$14.7M$15.6M$7.1M$9.1M
Total liabilities$869.1M$822.8M$1.3B$1.1B$6.7M$986.1M
Unrecognized Tax Benefits$19.6M———$29.9M—
Unrecognized Tax Benefits - Income Tax Penalties and Interest Accrued$1.7M———$2.6M—