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.

	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
EBITDA margin	54%+1.1pp	52.9%0.0pp	52.9%+1.3pp	51.6%-0.3pp	51.9%-0.1pp
Free cash flow margin	53.8%-1.1pp	54.9%+2.4pp	52.5%+0.5pp	52%+3.6pp	48.4%-1.3pp
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 assets	11.1%+0.6pp	10.5%+2.3pp	8.2%+0.9pp	7.3%+0.2pp	7.1%+0.1pp
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×
Debt-to-assets	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×
Interest coverage	464.4×+34.0×	430.4×+50.0×	380.3×+133×	247.7×+20.8×	227×+68.5×
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%
Enterprise value	$23.26B+10.7%	$21B-4.1%	$21.91B-23.4%	$28.59B-6.0%	$30.4B+14.3%
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×
EV / sales	10.8×+0.5×	10.2×-0.7×	11×-3.8×	14.8×-1.9×	16.6×+1.2×
Free cash flow yield	4.6%-0.3pp	4.9%+0.5pp	4.4%+1.1pp	3.3%+0.5pp	2.8%-0.3pp
Earnings yield	3.5%-0.1pp	3.5%+0.9pp	2.7%+0.8pp	1.8%+0.2pp	1.7%-0.1pp
Dividend yield	0.4%0.0pp	0.4%0.0pp	0.4%+0.1pp	0.3%0.0pp	0.3%0.0pp
PEG ratio	0.4×0.0×	0.5×-0.5×	0.9×-0.9×	1.9×-0.1×	2×+0.5×

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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.