Income StatementBalance SheetCash FlowSegments
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Tradeweb Markets Inc. Business Segments

Business, geographic, and product segment breakdowns

Tradeweb Markets Inc. generates $2.2B in annual revenue across 4 key segments: LSEG market data fees ($91.0M), Other ($28.1M), Subscription fees ($236.6M), and Subscription fees ($238.5M). The company-wide operating margin is 42.51%. Based on the Q1 2026 filing.

LSEG market data fees (TTM)$91.0MOther (TTM)$28.1MSubscription fees (TTM)$236.6MSubscription fees (TTM)$238.5MTransaction fees and commissions (TTM)$1.8B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$21.4B
P/E Ratio24.55
ROE13.85%

Products & Services

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Transaction fees and commissions$384.1M$421.3M$429.8M$421.3M$428.0M$523.8M
Subscription fees$55.0M$55.8M$57.4M$60.8M$60.0M$60.3M
Subscription fees$54.6M$55.3M$57.0M$60.4M$59.5M$59.8M
LSEG market data fees$20.6M$28.9M$20.6M$20.5M$23.2M$26.7M
Other$3.6M$3.6M$5.2M$5.9M$10.0M$6.9M

Geographic

Long-Lived Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$4.8B$4.7B$4.7B$4.8B$4.7B$4.7B
International$29.5M$27.0M$27.9M$30.8M$31.7M$32.4M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$274.8M$297.9M$297.8M$297.4M$300.9M$343.7M
International$188.6M$211.8M$215.2M$211.2M$220.2M$274.1M

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total Revenue$463.3M$509.7M$513.0M$508.6M$521.2M$617.8M
Net Income$159.9M$168.3M$175.5M$210.5M$367.1M$233.2M
Labor and Related Expense$152.2M$176.9M$169.7M$165.0M$159.3M$197.8M
Other segment items$91.5M$98.5M$87.4M$64.2M—$114.8M
Technology and communications$28.7M$28.7M$30.2M$33.9M$35.5M$39.5M
Professional fees$13.6M$12.5M$14.2M$11.5M$15.3M$12.3M
G&A$12.3M$19.7M$30.0M$16.9M$21.8M$11.9M
Occupancy$5.2M$5.1M$6.0M$6.6M$8.2M$8.2M