Skip to content
Screener

Tradeweb Markets Inc. TW Q3 2025 earnings

Reported October 30, 2025 · Before market open

Revenue$508.6MBeat by $1.1M
EPS$0.87Beat by $0.04
Revenue estimate$507.5M
EPS estimate$0.83

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$508.6M+13.3%
Operating income$210.4M+32.0%
Net income$185.6M+63.0%
EPS (diluted)$0.86+62.3%

Balance sheet

See full
Cash & equivalents$1.9B+62.5%
Total debt$135.6M+374%
Total equity$6.3B+10.2%
Total assets$8.0B+9.0%

Cash flow

See full
Operating cash flow$342.3M+17.2%
CapEx$14.0M+225%
Free cash flow$328.3M+14.1%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$23.68B-10.2%
Enterprise value$21.91B-13.1%
P/E37.6×-21.2×
P/S11.9×-4.3×

Profitability

See full
Operating margin40.3%+1.6pp
Net margin31.6%+4.1pp
FCF margin52.5%+0.8pp

Returns & leverage

See full
Return on equity10.5%+2.3pp
Debt / equity0×0.0×

Segments

By product

See full
Transaction fees and commissions$421.3M+12.8%
LSEG market data fees$20.5M+0.1%
Other$5.9M+60.0%

By segment

See full
Reportable Segment$508.6M+13.3%

FAQ

When did Tradeweb Markets Inc. report Q3 2025 earnings?
Tradeweb Markets Inc. (TW) reported Q3 2025 earnings on October 30, 2025 before market open.
What were Tradeweb Markets Inc.'s Q3 2025 revenue and EPS?
Tradeweb Markets Inc. reported revenue of $508.6M and eps of $0.87 for Q3 2025.
Did Tradeweb Markets Inc. beat estimates in Q3 2025?
Revenue beat the consensus estimate of $507.5M by $1.1M. EPS beat the consensus estimate of $0.83 by $0.04.
How did Tradeweb Markets Inc.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.3% from $448.9M a year earlier and eps grew 16.0% from $0.75.
Where can I find Tradeweb Markets Inc.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001758730-25-000171) and the 10-Q periodic report (0001758730-25-000172) directly on SEC EDGAR. The filing index links above go to sec.gov.