Tradeweb Markets Inc. TW Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 42.5%+1.8pp | 40.7%+0.4pp | 40.3%+1.4pp | 38.9%-0.3pp | 39.1%-0.2pp | |
| Net margin | 40.3%+0.7pp | 39.6%+8.0pp | 31.6%+2.7pp | 28.9%+0.2pp | 28.7%-0.4pp | |
| Returns | ||||||
| Return on equity | 13.8%+0.6pp | 13.2%+2.7pp | 10.5%+1.0pp | 9.5%+0.4pp | 9.2%+0.2pp | |
| Return on invested capital | 15.2%+0.7pp | 14.5%+0.8pp | 13.6%+0.1pp | 13.6%+1.1pp | 12.5%-0.1pp | |
| Efficiency | ||||||
| Asset turnover | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.2×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Net debt / EBITDA | -1.5×+0.3× | -1.8×-0.1× | -1.7×-0.1× | -1.6×-0.3× | -1.3×+0.1× | |
| Per Share | ||||||
| Book value per share | $31.03+2.5% | $30.28+3.7% | $29.21+3.0% | $28.37+2.6% | $27.64+2.4% | |
| Valuation | ||||||
| Market capitalization | $25.06B+9.2% | $22.95B-3.1% | $23.68B-21.5% | $30.18B-4.7% | $31.68B+13.5% | |
| Price / earnings | 28.8×+0.6× | 28.2×-9.4× | 37.6×-16.5× | 54.1×-6.4× | 60.5×+4.8× | |
| Price / sales | 11.6×+0.4× | 11.2×-0.7× | 11.9×-3.7× | 15.6×-1.7× | 17.3×+1.2× | |
| Price / book | 3.8×+0.3× | 3.5×-0.2× | 3.8×-1.2× | 5×-0.4× | 5.3×+0.5× | |
| EV / EBITDA | 19.9×+0.6× | 19.3×-1.4× | 20.8×-7.9× | 28.6×-3.4× | 32.1×+2.5× | |
| Dividend yield | 0.4%0.0pp | 0.4%0.0pp | 0.4%+0.1pp | 0.3%0.0pp | 0.3%0.0pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Tradeweb Markets Inc.'s ratios come from?
- Every ratio is computed from Tradeweb Markets Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
