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Tradeweb Markets Inc. TW Net debt / EBITDA

Net debt / EBITDA at other companies

Nasdaq, Inc. logo
Nasdaq, Inc.NDAQ
2.9×+0.7×
CME Group logo
CME GroupCME
0.3×-0.3×
Intercontinental Exchange logo
Intercontinental ExchangeICE
2.9×-0.4×
Cboe Global Markets logo
Cboe Global MarketsCBOE
-2.3×-5.2×
Coinbase Global, Inc. logo
Coinbase Global, Inc.COIN
-4×+0.2×
Broadridge Financial Solutions logo
Broadridge Financial SolutionsBR
2.2×-0.8×

Other financials

Income statement

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Revenue$617.8M+21.2%
Operating income$287.3M+40.7%
Net income$205.3M+38.4%
EPS (diluted)$0.96+39.1%

Balance sheet

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Cash & equivalents$1.9B+48.3%
Total debt$142.8M+343%
Total equity$6.6B+11.5%
Total assets$8.3B+12.6%

Cash flow

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Operating cash flow$103.8M+72.5%
CapEx$9.6M+483%
Free cash flow$94.2M+60.9%

Valuation

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Market cap$21.46B-20.9%
Enterprise value$19.67B-23.5%
P/E24.7×-27.1×
P/S9.9×-4.9×

Profitability

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Operating margin42.5%+3.4pp
Net margin40.3%+11.6pp

Returns & leverage

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Return on equity13.8%+4.7pp
Debt / equity0.0×

Where this comes from

Calculated from Tradeweb Markets Inc.’s reported figures.

Based on the most recent quarter.

The official record: Tradeweb Markets Inc.’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tradeweb Markets Inc.'s net debt / EBITDA?
Tradeweb Markets Inc. (TW) reported net debt / EBITDA of -1.5× in Q1 2026.
How has Tradeweb Markets Inc.'s net debt / EBITDA changed year-over-year?
Tradeweb Markets Inc.'s net debt / EBITDA decreased by 14.4% year-over-year, from -1.3× to -1.5×.
What is the long-term trend for Tradeweb Markets Inc.'s net debt / EBITDA?
Over 4 years (2021 to 2025), Tradeweb Markets Inc.'s net debt / EBITDA has grown at a -0.3% compound annual growth rate (CAGR), from -6.5× to -6.4×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.