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Tradeweb Markets Inc. TW Q2 2026 earnings

Reported July 30, 2026 · Before market open

Revenue$558.9MIn line
EPS$0.97Beat by $0.03
Revenue estimate$559.2M
EPS estimate$0.94

Next report

Oct 29, 2026 (In 3 weeks)
Revenue estimate$575.8M
EPS estimate$0.99

Financials

Q2 2026

Income statement

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Revenue$558.9M+9.0%
Operating income$245.3M+22.7%
Net income$181.3M+17.9%
EPS (diluted)$0.85+19.7%

Balance sheet

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Cash & equivalents$2.1B+26.2%
Total debt$150.3M+365%
Total equity$6.6B+8.8%
Total assets$8.3B+2.4%

Cash flow

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Operating cash flow$394.1M-3.7%
CapEx$8.3M+52.5%
Free cash flow$385.8M-4.4%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$21.79B-5.4%
Enterprise value$19.88B-6.5%
P/E24.3×-12.3×
P/S9.9×-1.7×

Profitability

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Operating margin43.7%+4.8pp
Net margin40.7%+11.8pp
FCF margin51.9%-0.2pp

Returns & leverage

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Return on equity14.1%+4.6pp
Debt / equity0×0.0×

Segments

By product

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Transaction fees and commissions$465.3M+8.3%
Subscription fees$61.7M—
LSEG market data fees$26.5M+28.8%
Other$5.4M+2.8%

By segment

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Reportable Segment$558.9M+9.0%

By geography

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U.S.$313.9M—

FAQ

When did Tradeweb Markets Inc. report Q2 2026 earnings?
Tradeweb Markets Inc. (TW) reported Q2 2026 earnings on July 30, 2026 before market open.
What were Tradeweb Markets Inc.'s Q2 2026 revenue and EPS?
Tradeweb Markets Inc. reported revenue of $558.9M and eps of $0.97 for Q2 2026.
Did Tradeweb Markets Inc. beat estimates in Q2 2026?
Revenue missed the consensus estimate of $559.2M by $229.7K. EPS beat the consensus estimate of $0.94 by $0.03.
How did Tradeweb Markets Inc.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.0% from $513.0M a year earlier and eps grew 11.5% from $0.87.
Where can I find Tradeweb Markets Inc.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0001758730-26-000132) and the 10-Q periodic report (0001758730-26-000133) directly on SEC EDGAR. The filing index links above go to sec.gov.