Tradeweb Markets (TW) Stock Insights
TW$119.82+0.15 +0.13%
$25.88B
Market Cap
28.40
P/E
29.39
Forward P/E
57
Score
Tradeweb Markets (TW) Stock Insights
TW price $119.82 +0.15 +0.13%
- Ticker
- TW
- Price
- $119.82
- Change
- +0.15 +0.13%
- Market cap ?
- $25.88B
- P/E ?
- 28.40
- Forward P/E ?
- 29.39
- Dividend yield ?
- 0.45%
- Beta ?
- 0.61
- Sector
- Financial Services
- Industry
- Financial - Capital Markets
- Stocklytics score
- 57
- Value
- 28
- Quality
- 85
- Growth
- 58
Stocklytics score rationale: value 28, quality 85, growth 58.
Financials
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| 492180000 | 504448000 | 657578000 | 775566000 | 892659000 | 1076447000 | 1188781000 | 1338219000 | 1725949000 | 2052429000 |
Tradeweb Markets Inc. is a global provider that develops and manages sophisticated electronic trading platforms across the Americas, Europe, the Middle East, Africa, and Asia Pacific. These digital venues facilitate transactions in a diverse array of financial instruments, including fixed income (rates and credit), money market products, and equities. The company offers a comprehensive range of services…
Fair value
TW fair value $122.68. Price $119.82. Price is about fair value.
Around fair value, but less expensive than usual. A smaller premium than on 63% of days in the past 5 years.
Fair value is an estimate of what one share is worth if future cash flows arrive as modeled. It is not a forecast of the share price. How discounted cash flow works.
Calculated with a 10-year free-cash-flow discount. Starting free cash flow 1.05B. Growth 18.82%. When analyst earnings forecasts are available, free cash flow in those years is forecast earnings times the company's usual conversion of earnings into free cash flow, kept between 60% and 130%. Years with fewer than 3 analyst estimates are left out. Growth then fades in a straight line to terminal growth by year 10, starting from the last well-covered year's growth, or from the pace across those years when the final year slows sharply, kept between 0% and 20%. Without those forecasts, year-1 growth is analyst revenue growth for the next full fiscal year, or 5-year historical revenue growth when that forecast is missing, held for five years, then fading in a straight line to terminal growth by year 10. Terminal growth 3.00%. Discount rate 8.70% (beta 0.8). Beta is kept between 0.8 and 2.0, which on its own would make the discount rate 8.7% to 15.3%. The rate is then capped at 12%. A cap is used because a discount above 12% pushes higher-beta stocks further from the price. The discount rate stays at least 5 percentage points above terminal growth. Shares 216.03M. Net debt -1.81B. The earnings value is next-12-months earnings per share, or trailing earnings when that forecast is missing, times the median P/E of the company's industry. That median uses listed stocks worth at least $10 billion with a positive P/E of 100 or below, and the industry needs at least eight of them. Otherwise the sector median is used when that group also has at least eight, then the market median of those large companies. The multiple used is the lower of that median and 1.25 times the stock's own 10-year median P/E, then kept between 8 and 30. If the stock has no 10-year median, the peer median is kept between 8 and 30. Fair value is the average of the cash-flow value and the earnings value when both exist. Card and credit companies use the earnings value only, because changes in customer receivables distort free cash flow. Model uncertainty is high when fair value is more than 60% from the price, or when most of the cash-flow value sits after year 10.
Earnings
| Date | EPS actual | EPS estimate | Revenue | Revenue estimate |
|---|---|---|---|---|
| 2026-10-29 | — | 1.01 | — | 584.69M |
| 2026-07-30 | 0.97 | 0.94 | 558.95M | 559.18M |
| 2026-04-29 | 1.08 | 1.06 | 617.76M | 617.16M |
| 2026-02-05 | 0.87 | 0.85 | 521.18M | 516.98M |
| 2025-10-30 | 0.87 | 0.83 | 508.60M | 507.52M |
| 2025-07-30 | 0.87 | 0.86 | 512.97M | 514.34M |
| 2025-04-30 | 0.86 | 0.86 | 509.68M | 512.02M |
| 2025-02-06 | 0.76 | 0.75 | 463.34M | 458.01M |
| 2024-10-30 | 0.75 | 0.75 | 448.92M | 450.88M |
| 2024-07-25 | 0.70 | 0.69 | 404.95M | 408.36M |
| 2024-04-25 | 0.71 | 0.71 | 408.74M | 411.33M |
| 2024-02-06 | 0.64 | 0.63 | 370.00M | 371.46M |
| 2023-10-26 | 0.55 | 0.55 | 328.36M | 329.35M |
| 2023-07-27 | 0.52 | 0.50 | 310.61M | 309.07M |
| 2023-04-27 | 0.54 | 0.53 | 329.25M | 327.43M |
| 2023-02-02 | 0.49 | 0.46 | 293.04M | 293.23M |
| 2022-10-27 | 0.45 | 0.44 | 287.12M | 286.72M |
| 2022-08-03 | 0.47 | 0.46 | 297.14M | 298.01M |
| 2022-04-28 | 0.48 | 0.49 | 311.49M | 311.53M |
| 2022-02-03 | 0.42 | 0.42 | 276.88M | 277.02M |
| 2021-10-28 | 0.39 | 0.39 | 265.32M | 260.15M |
| 2021-07-29 | 0.39 | 0.39 | 260.84M | 260.84M |
| 2021-04-29 | 0.43 | 0.42 | 273.40M | 266.89M |
| 2021-02-04 | 0.34 | 0.34 | 233.08M | 349.61M |
| 2020-10-28 | 0.30 | 0.29 | 212.52M | 205.53M |
| 2020-07-30 | 0.30 | 0.30 | 211.82M | 205.04M |
| 2020-04-20 | 0.37 | 0.35 | 234.61M | 221.92M |
| 2020-02-12 | 0.26 | 0.25 | 197.31M | 189.72M |
| 2019-10-15 | 0.27 | 0.25 | 201.62M | 186.09M |
| 2019-08-08 | 0.25 | 0.23 | 190.66M | 175.25M |
| 2019-05-09 | 0.23 | 0.22 | 187.65M | 178.30M |
| 2019-04-05 | 0.24 | — | 178.64M | — |
| 2018-09-30 | 0.20 | — | 167.79M | — |
| 2018-06-30 | 0.17 | — | 151.72M | — |
| 2018-03-31 | 0.20 | — | 159.43M | — |
| 2017-12-31 | 46.25 | — | 143.40M | — |
Dividends
Yield 0.45%. Payout ratio 12.33%. Frequency Quarterly.
Safety score 84/100 · Safe. Payout ratio is 12% of earnings. Dividends use less than 40% of free cash flow. Dividends were paid in 8 separate years. Yield is 0.5%, which is modest.
| Ex-date | Dividend | Record | Payment | Frequency |
|---|---|---|---|---|
| 2026-09-01 | $0.14 | 2026-09-01 | 2026-09-15 | Quarterly |
| 2026-06-01 | $0.14 | 2026-06-01 | 2026-06-15 | Quarterly |
| 2026-03-02 | $0.14 | 2026-03-02 | 2026-03-16 | Quarterly |
| 2025-12-01 | $0.12 | 2025-12-01 | 2025-12-15 | Quarterly |
| 2025-09-02 | $0.12 | 2025-09-02 | 2025-09-16 | Quarterly |
| 2025-06-02 | $0.12 | 2025-06-02 | 2025-06-16 | Quarterly |
| 2025-03-03 | $0.12 | 2025-03-03 | 2025-03-17 | Quarterly |
| 2024-12-02 | $0.10 | 2024-12-02 | 2024-12-16 | Quarterly |
| 2024-09-03 | $0.10 | 2024-09-03 | 2024-09-16 | Quarterly |
| 2024-06-03 | $0.10 | 2024-06-03 | 2024-06-17 | Quarterly |
| 2024-02-29 | $0.10 | 2024-03-01 | 2024-03-15 | Quarterly |
| 2023-11-30 | $0.09 | 2023-12-01 | 2023-12-15 | Quarterly |
| 2023-08-31 | $0.09 | 2023-09-01 | 2023-09-15 | Quarterly |
| 2023-05-31 | $0.09 | 2023-06-01 | 2023-06-15 | Quarterly |
| 2023-02-28 | $0.09 | 2023-03-01 | 2023-03-15 | Quarterly |
| 2022-11-30 | $0.08 | 2022-12-01 | 2022-12-15 | Quarterly |
| 2022-08-31 | $0.08 | 2022-09-01 | 2022-09-15 | Quarterly |
| 2022-05-31 | $0.08 | 2022-06-01 | 2022-06-15 | Quarterly |
| 2022-02-28 | $0.08 | 2022-03-01 | 2022-03-15 | Quarterly |
| 2021-11-30 | $0.08 | 2021-12-01 | 2021-12-15 | Quarterly |
| 2021-08-31 | $0.08 | 2021-09-01 | 2021-09-15 | Quarterly |
| 2021-05-28 | $0.08 | 2021-06-01 | 2021-06-15 | Quarterly |
| 2021-02-26 | $0.08 | 2021-03-01 | 2021-03-15 | Quarterly |
| 2020-11-30 | $0.08 | 2020-12-01 | 2020-12-15 | Quarterly |
| 2020-08-31 | $0.08 | 2020-09-01 | 2020-09-15 | Quarterly |
| 2020-05-29 | $0.08 | 2020-06-01 | 2020-06-15 | Quarterly |
| 2020-02-28 | $0.08 | 2020-03-02 | 2020-03-16 | Quarterly |
| 2019-11-29 | $0.08 | 2019-12-02 | 2019-12-16 | Quarterly |
| 2019-08-30 | $0.08 | 2019-09-03 | 2019-09-16 | Quarterly |
| 2019-05-30 | $0.08 | 2019-06-01 | 2019-06-15 | Quarterly |
Insider trades
| Date | Insider | Action | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-01 | Rajagopalan Balasubramanian | Other | 0 | — | — |
| 2026-08-17 | Dixon Troy | Sell | 2.58K | $106.06 | 274.06K |
| 2026-08-14 | Dixon Troy | Sell | 546 | $105.74 | 57.73K |
| 2026-06-01 | Peterson Justin | Sell | 21.22K | $102.00 | 2.16M |
| 2026-05-26 | BERNS STEVEN | Sell | 425 | $105.26 | 44.74K |
| 2026-05-19 | Yared Rana | Buy | 1.65K | — | — |
| 2026-05-19 | AIGRAIN JACQUES | Buy | 2.67K | — | — |
| 2026-05-19 | Madoff Paula | Buy | 1.91K | — | — |
| 2026-05-19 | BERNS STEVEN | Buy | 1.65K | — | — |
| 2026-05-19 | Ganeles Scott | Buy | 1.65K | — | — |
| 2026-05-19 | Opoku Lisa | Buy | 1.65K | — | — |
| 2026-05-19 | Repetto Richard H | Buy | 1.65K | — | — |
| 2026-04-15 | Peterson Justin | Sell | 21.22K | $120.66 | 2.56M |
| 2026-03-23 | Friedman Douglas | Sell | 592 | $124.86 | 73.92K |
| 2026-03-23 | Furber Sara | Sell | 1.61K | $124.86 | 201.52K |
| 2026-03-20 | Dixon Troy | Sell | 2.58K | $125.75 | 324.94K |
| 2026-03-20 | Friedman Douglas | Sell | 2.22K | $125.12 | 277.65K |
| 2026-03-20 | Furber Sara | Sell | 4.91K | $125.13 | 614.52K |
| 2026-03-20 | Peterson Justin | Sell | 1.00K | $125.13 | 125.76K |
| 2026-03-20 | Clack Amy | Sell | 271 | $125.75 | 34.08K |
| 2026-03-18 | Peterson Justin | Sell | 3.21K | $124.76 | 400.72K |
| 2026-03-17 | Peterson Justin | Buy | 3 | — | — |
| 2026-03-17 | Peterson Justin | Sell | 1.24K | $126.17 | 156.58K |
| 2026-03-17 | Clack Amy | Buy | 3 | — | — |
| 2026-03-17 | Clack Amy | Sell | 1.13K | $126.17 | 142.32K |
| 2026-03-17 | Friedman Douglas | Buy | 1 | — | — |
| 2026-03-17 | Friedman Douglas | Sell | 619 | $126.17 | 78.10K |
| 2026-03-17 | Bruni Enrico | Buy | 6 | — | — |
| 2026-03-17 | Bruni Enrico | Sell | 1.51K | $126.17 | 190.64K |
| 2026-03-17 | Furber Sara | Buy | 6 | — | — |
| 2026-03-17 | Furber Sara | Sell | 1.68K | $126.17 | 211.84K |
| 2026-03-17 | Hult William | Buy | 17 | — | — |
| 2026-03-17 | Hult William | Sell | 5.66K | $126.17 | 713.62K |
| 2026-03-15 | Bruni Enrico | Buy | 11.75K | — | — |
| 2026-03-15 | Bruni Enrico | Buy | 44 | — | — |
| 2026-03-15 | Bruni Enrico | Sell | 4.38K | $124.42 | 544.46K |
| 2026-03-15 | Peterson Justin | Buy | 8.04K | — | — |
| 2026-03-15 | Peterson Justin | Buy | 29 | — | — |
| 2026-03-15 | Peterson Justin | Sell | 3.94K | $124.42 | 490.21K |
| 2026-03-15 | Friedman Douglas | Buy | 6.51K | — | — |
| 2026-03-15 | Friedman Douglas | Buy | 18 | — | — |
| 2026-03-15 | Friedman Douglas | Sell | 2.31K | $124.42 | 286.91K |
| 2026-03-15 | Dixon Troy | Buy | 10.85K | — | — |
| 2026-03-15 | Dixon Troy | Buy | 25 | — | — |
| 2026-03-15 | Dixon Troy | Sell | 5.36K | $124.42 | 667.39K |
| 2026-03-15 | Clack Amy | Buy | 6.43K | — | — |
| 2026-03-15 | Furber Sara | Buy | 11.97K | — | — |
| 2026-03-15 | Furber Sara | Buy | 44 | — | — |
| 2026-03-15 | Furber Sara | Sell | 5.08K | $124.42 | 631.68K |
| 2026-03-15 | Hult William | Buy | 37.51K | — | — |
| 2026-03-15 | Hult William | Buy | 104 | — | — |
| 2026-03-15 | Hult William | Sell | 14.41K | $124.42 | 1.79M |
| 2026-03-03 | Hult William | Buy | 72.45K | $20.59 | 1.49M |
| 2026-03-03 | Hult William | Sell | 72.45K | $125.62 | 9.10M |
| 2026-03-03 | Hult William | Sell | 72.45K | $20.59 | 1.49M |
| 2026-02-20 | Bruni Enrico | Sell | 17.38K | $119.27 | 2.07M |
| 2026-02-10 | Hult William | Buy | 72.45K | $20.59 | 1.49M |
| 2026-02-10 | Hult William | Sell | 72.45K | $115.45 | 8.36M |
| 2026-02-10 | Hult William | Sell | 48.77K | $115.45 | 5.63M |
| 2026-02-10 | Hult William | Sell | 72.45K | $20.59 | 1.49M |
| 2026-02-10 | Peterson Justin | Sell | 11.25K | $115.47 | 1.30M |
| 2026-02-10 | Friedman Douglas | Sell | 23.79K | $115.45 | 2.75M |
| 2026-02-10 | Friedman Douglas | Sell | 6.76K | $115.50 | 780.77K |
| 2026-02-10 | Furber Sara | Sell | 63.13K | $115.10 | 7.27M |
| 2026-02-10 | Clack Amy | Sell | 838 | $114.68 | 96.10K |
| 2026-02-10 | Clack Amy | Sell | 839 | $114.68 | 96.22K |
| 2026-01-01 | Hult William | Buy | 104.92K | — | — |
| 2026-01-01 | Hult William | Buy | 547 | — | — |
| 2026-01-01 | Hult William | Sell | 56.70K | $106.20 | 6.02M |
| 2026-01-01 | Hult William | Buy | 407 | — | — |
| 2026-01-01 | Hult William | Sell | 43.24K | $106.20 | 4.59M |
| 2026-01-01 | Friedman Douglas | Buy | 45.47K | — | — |
| 2026-01-01 | Friedman Douglas | Buy | 258 | — | — |
| 2026-01-01 | Friedman Douglas | Sell | 21.93K | $106.20 | 2.33M |
| 2026-01-01 | Friedman Douglas | Buy | 77 | — | — |
| 2026-01-01 | Friedman Douglas | Sell | 7.00K | $106.20 | 743.29K |
| 2026-01-01 | Peterson Justin | Buy | 90.93K | — | — |
| 2026-01-01 | Peterson Justin | Buy | 474 | — | — |
| 2026-01-01 | Peterson Justin | Sell | 48.96K | $106.20 | 5.20M |
| 2026-01-01 | Peterson Justin | Buy | 129 | — | — |
| 2026-01-01 | Peterson Justin | Sell | 13.77K | $106.20 | 1.46M |
| 2026-01-01 | Bruni Enrico | Buy | 90.93K | — | — |
| 2026-01-01 | Bruni Enrico | Buy | 562 | — | — |
| 2026-01-01 | Bruni Enrico | Sell | 42.74K | $106.20 | 4.54M |
| 2026-01-01 | Bruni Enrico | Buy | 199 | — | — |
| 2026-01-01 | Bruni Enrico | Sell | 15.18K | $106.20 | 1.61M |
| 2026-01-01 | Clack Amy | Buy | 21 | — | — |
| 2026-01-01 | Clack Amy | Sell | 2.02K | $106.20 | 214.52K |
| 2026-01-01 | Furber Sara | Buy | 90.93K | — | — |
| 2026-01-01 | Furber Sara | Buy | 519 | — | — |
| 2026-01-01 | Furber Sara | Sell | 45.10K | $106.20 | 4.79M |
| 2026-01-01 | Furber Sara | Buy | 193 | — | — |
| 2026-01-01 | Furber Sara | Sell | 17.30K | $106.20 | 1.84M |
| 2025-05-20 | Repetto Richard H | Buy | 1.53K | — | — |
| 2025-05-20 | Madoff Paula | Buy | 1.48K | — | — |
| 2025-05-20 | BERNS STEVEN | Buy | 1.27K | — | — |
| 2025-05-20 | AIGRAIN JACQUES | Buy | 2.06K | — | — |
| 2025-05-20 | Opoku Lisa | Buy | 1.27K | — | — |
| 2025-05-20 | Yared Rana | Buy | 1.27K | — | — |
| 2025-05-20 | Ganeles Scott | Buy | 1.27K | — | — |
Institutional holders
Latest filed quarter: Q2 2026.
Institutions holding: 572, holders -25 vs prior quarter. Ownership 55.44%.
| Holder | Shares | Change | Change % | Value |
|---|---|---|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ | 16.38M | 1.44M | +9.61% | 1.63B |
| BLACKROCK, INC. | 6.88M | 53.44K | +0.78% | 685.89M |
| WELLINGTON MANAGEMENT GROUP LLP | 6.20M | -1.30M | -17.33% | 618.30M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 6.06M | 447.73K | +7.98% | 603.70M |
| VANGUARD CAPITAL MANAGEMENT LLC | 5.24M | 48.18K | +0.93% | 522.12M |
| CARMIGNAC GESTION | 3.88M | 1.59M | +69.57% | 386.36M |
| T. ROWE PRICE INVESTMENT MANAGEMENT, INC. | 3.30M | -97.74K | -2.88% | 328.98M |
| STATE STREET CORP | 2.81M | 63.02K | +2.30% | 279.83M |
| AQR CAPITAL MANAGEMENT LLC | 2.79M | -108.28K | -3.74% | 272.38M |
| GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC | 2.66M | 12.86K | +0.48% | 265.45M |
| CAPITAL WORLD INVESTORS | 2.31M | 114.56K | +5.21% | 230.56M |
| GEODE CAPITAL MANAGEMENT, LLC | 2.11M | -14.46K | -0.68% | 209.22M |
| MORGAN STANLEY | 1.69M | -18.75K | -1.10% | 167.94M |
| NORDEA INVESTMENT MANAGEMENT AB | 1.69M | 39.57K | +2.40% | 165.15M |
| BESSEMER GROUP INC | 1.60M | -22.61K | -1.39% | 159.85M |
| NORGES BANK | 1.54M | 1.54M | New | 153.93M |
| MILLENNIUM MANAGEMENT LLC | 1.43M | -540.37K | -27.45% | 142.32M |
| CITADEL ADVISORS LLC | 1.40M | 698.43K | +99.78% | 139.36M |
| NINETY ONE UK LTD | 1.34M | -247.48K | -15.56% | 133.83M |
| MARSHALL WACE, LLP | 1.28M | 905.36K | +239.87% | 127.84M |
| FRANKLIN TEMPLETON INC | 1.17M | -191.39K | -14.09% | 116.27M |
| ARTISAN PARTNERS LIMITED PARTNERSHIP | 1.15M | 621.08K | +117.01% | 114.80M |
| D. E. SHAW & CO., INC. | 1.12M | 736.60K | +191.54% | 111.74M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1.06M | 68.39K | +6.91% | 105.43M |
| SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. | 1.06M | 1.06M | New | 105.43M |
Insights
- Revenue by product
- Revenue by region
| Period | Value |
|---|---|
| FY2019 | Market Data Revenue: 55635000.0, Subscription Fee Revenue: 138731000.0 |
| FY2020 | Market Data Revenue: 59706000.0, Subscription Fee Revenue: 142358000.0 |
| FY2023 | Financial Service, Other: 11567000.0, Market Data Revenue: 64336000.0, Subscription Fee Revenue: 183972000.0, Transaction Fee Revenue: 1078344000.0 |
| FY2024 | Financial Service, Other: 13598000.0, Market Data Revenue: 82145000.0, Subscription Fee Revenue: 206659000.0, Transaction Fee Revenue: 1423547000.0 |
| FY2025 | Financial Service, Other: 24788000.0, Market Data Revenue: 93197000.0, Subscription Fee Revenue: 234017000.0, Transaction Fee Revenue: 1700427000.0 |
| Period | Value |
|---|---|
| FY2019 | Non Us: 278250000.0, U: 497316000.0 |
| FY2020 | Non-US: 322595000.0, UNITED STATES: 570064000.0 |
| FY2021 | Non-US: 403224000.0, UNITED STATES: 673223000.0 |
| FY2022 | Non-US: 428139000.0, UNITED STATES: 760642000.0 |
| FY2023 | Non-US: 487881000.0, UNITED STATES: 850338000.0 |
| FY2024 | Non-US: 665252000.0, UNITED STATES: 1060697000.0 |
| FY2025 | Non-US: 858367000.0, UNITED STATES: 1194062000.0 |
Insights · Dividends · Forecast · Financials · Learn