Tradeweb Markets Inc.TWEarnings & Financial Report
Tradeweb Markets Inc., headquartered in New York City, operates electronic trading platforms primarily used by institutional investors to trade fixed income products, ETFs, and derivatives. It has over 3,000 customers including banks, asset managers, central banks, pension funds, and insurance companies. In 2024, 83% of the company's revenue was from transaction fees and commissions and 17% was from subscription fees. In 2024, 52% of revenue came from products related to rates, 27% of revenue...
TW Q1 FY2026 Key Financial Metrics
Revenue
$617.8M
Gross Profit
N/A
Operating Profit
$287.3M
Net Profit
$233.2M
Gross Margin
N/A
Operating Margin
46.5%
Net Margin
37.7%
YoY Growth
21.2%
EPS
$0.96
Tradeweb Markets Inc. Q1 FY2026 Financial Summary
Tradeweb Markets Inc. reported revenue of $617.8M (up 21.2% YoY) for Q1 FY2026, with a net profit of $233.2M (up 38.5% YoY) (37.7% margin).
Key Financial Metrics
| Total Revenue | $617.8M |
|---|---|
| Net Profit | $233.2M |
| Gross Margin | N/A |
| Operating Margin | 46.5% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
Tradeweb Markets Inc. Q1 FY2026 revenue of $617.8M breaks down across 3 segments, led by Transaction fees and commissions at $523.8M (84.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Transaction fees and commissions | $523.8M | 84.8% |
| Subscription fees | $60.3M | 9.8% |
| LSEG market data fees | $26.7M | 4.3% |
Tradeweb Markets Inc. Annual Revenue by Year
Tradeweb Markets Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.1B).
Tradeweb Markets Inc. Quarterly Revenue & Net Profit History
Tradeweb Markets Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $617.8M | +21.2% | $233.2M | 37.7% |
| Q4 FY2025 | $521.2M | +12.5% | $325.0M | 62.4% |
| Q3 FY2025 | $508.6M | +13.3% | $185.6M | 36.5% |
| Q2 FY2025 | $513.0M | +26.7% | $153.8M | 30.0% |
| Q1 FY2025 | $509.7M | +24.7% | $148.4M | 29.1% |
| Q4 FY2024 | $463.3M | +25.2% | $142.2M | 30.7% |
| Q3 FY2024 | $448.9M | +36.7% | $113.9M | 25.4% |
| Q2 FY2024 | $405.0M | +30.4% | $119.2M | 29.4% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $405.0M | $448.9M | $463.3M | $509.7M | $513.0M | $508.6M | $521.2M | $617.8M |
| YoY Growth | 30.4% | 36.7% | 25.2% | 24.7% | 26.7% | 13.3% | 12.5% | 21.2% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $7.28B | $7.34B | $7.27B | $7.37B | $8.06B | $8.00B | $8.19B | N/A |
| Liabilities | $1.08B | $1.05B | $869.1M | $822.8M | $1.33B | $1.06B | $1.00B | N/A |
| Equity | $5.63B | $5.70B | $5.80B | $5.94B | $6.10B | $6.28B | $6.51B | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $285.7M | $292.1M | $282.0M | $60.2M | $409.2M | $342.3M | $355.9M |