Tradeweb Markets Inc. TW Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total Revenue by Product | ||||||
| LSEG market data fees | $26.74M+15.4% | $23.17M+12.8% | $20.53M-0.2% | $20.57M-28.9% | $28.93M+40.7% | |
| Other | $6.92M-30.8% | $9.99M+68.6% | $5.93M+13.0% | $5.24M+44.4% | $3.63M-0.2% | |
| Subscription fees | $59.77M+0.4% | $59.53M-1.4% | $60.38M+6.0% | $56.95M+3.0% | $55.32M+1.3% | |
| Subscription fees | $60.27M+0.4% | $60.02M-1.3% | $60.83M+6.0% | $57.39M+2.9% | $55.78M+1.4% | |
| Transaction fees and commissions | $523.83M+22.4% | $428.01M+1.6% | $421.31M-2.0% | $429.77M+2.0% | $421.34M+9.7% | |
| Total Revenue by Geography | ||||||
| International | $274.11M+24.5% | $220.24M+4.3% | $211.16M-1.9% | $215.17M+1.6% | $211.8M+12.3% | |
| U.S. | $343.65M+14.2% | $300.94M+1.2% | $297.44M-0.1% | $297.8M0.0% | $297.88M+8.4% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Tradeweb Markets Inc. break its business down?
- Tradeweb Markets Inc. (TW) reports total revenue by product across 5 parts — LSEG market data fees, Other, Subscription fees, Subscription fees and Transaction fees and commissions. Each is extracted from the segment footnotes and tracked over time.
- Where does Tradeweb Markets Inc.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Tradeweb Markets Inc.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
