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%+3.4pp	40.7%+1.4pp	40.3%+1.6pp	38.9%-0.6pp	39.1%+0.3pp
Net margin	40.3%+11.6pp	39.6%+10.5pp	31.6%+4.1pp	28.9%+0.2pp	28.7%+0.2pp
EBITDA margin	54%+2.1pp	52.9%+0.9pp	52.9%+1.7pp	51.6%-0.6pp	51.9%-0.3pp
Free cash flow margin	53.8%+5.4pp	54.9%+5.3pp	52.5%+0.8pp	52%+1.3pp	48.4%-0.6pp
Returns
Return on equity	13.8%+4.7pp	13.2%+4.2pp	10.5%+2.3pp	9.5%+1.5pp	9.2%+1.5pp
Return on assets	11.1%+4.0pp	10.5%+3.5pp	8.2%+1.7pp	7.3%+1.0pp	7.1%+1.2pp
Return on invested capital	15.2%+2.7pp	14.5%+2.0pp	13.6%+2.3pp	13.6%+1.9pp	12.5%+1.6pp
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×-0.2×	-1.8×-0.3×	-1.7×-0.3×	-1.6×+0.5×	-1.3×+0.7×
Interest coverage	464.4×+237×	430.4×+272×	380.3×+236×	247.7×+71.8×	227×+61.0×
Per Share
Book value per share	$31.03+12.3%	$30.28+12.2%	$29.21+10.2%	$28.37+8.3%	$27.64+7.7%
Valuation
Market capitalization	$25.06B-20.9%	$22.95B-17.8%	$23.68B-10.2%	$30.18B+33.9%	$31.68B+43.0%
Enterprise value	$23.26B-23.5%	$21B-21.0%	$21.91B-13.1%	$28.59B+37.1%	$30.4B+47.3%
Price / earnings	28.8×-31.7×	28.2×-27.4×	37.6×-21.2×	54.1×+2.0×	60.5×+5.5×
Price / sales	11.6×-5.7×	11.2×-5.0×	11.9×-4.3×	15.6×+0.7×	17.3×+1.7×
Price / book	3.8×-1.5×	3.5×-1.3×	3.8×-0.9×	5×+0.9×	5.3×+1.3×
EV / EBITDA	19.9×-12.1×	19.3×-10.3×	20.8×-9.4×	28.6×+2.2×	32.1×+4.2×
EV / sales	10.8×-5.9×	10.2×-5.2×	11×-4.5×	14.8×+1.0×	16.6×+2.1×
Free cash flow yield	4.6%+1.8pp	4.9%+1.8pp	4.4%+1.2pp	3.3%-0.1pp	2.8%-0.3pp
Earnings yield	3.5%+1.8pp	3.5%+1.7pp	2.7%+1.0pp	1.8%-0.1pp	1.7%-0.2pp
Dividend yield	0.4%+0.1pp	0.4%+0.1pp	0.4%+0.1pp	0.3%0.0pp	0.3%-0.1pp
PEG ratio	0.4×-1.6×	0.5×-1.0×	0.9×-1.6×	1.9×+0.1×	2×+0.1×

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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.