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PCEliquiditysentimentbreakoutsdowngradesP/E 28.4threadsAAPLSPXvolatilityNDXflowscyclesliquidityestimatesEPS 4.12

TW · NASDAQ · Financial - Capital Markets

Tradeweb (TW)

Connects market participants across multi-asset electronic trading workflows.

$101.24

vs last close+1.50 (+1.50%)

In millions of USD, except per-share figures

In millions	Q3 FY23Sep 2023	Q4 FY23Dec 2023	Q1 FY24Mar 2024	Q2 FY24Jun 2024	Q3 FY24Sep 2024	Q4 FY24Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Revenue	328	370	409	405	449	463	510	513	509	521	618	559
Cost of revenue	116	126	143	137	160	152	177	170	165	159	198	181
Gross profit	212	244	266	268	289	311	333	343	344	362	420	378
	88	102	98	105	129	123	129	143	133	131	133	133
Research & development	0	0	0	0	0	0	0	23	0	0	0	0
	41	55	49	55	191	60	66	80	69	81	72	71
Selling & marketing	0	0	0	0	162	0	0	0	0	0	0	0
General & administrative	41	55	49	55	29	60	66	80	69	81	72	0
Other expenses	47	48	49	50	−62	63	63	40	64	50	61	61
Operating income	125	142	168	162	159	189	204	200	210	231	287	245
	16	0	19	21	14	22	17	27	59	226	16	25
Interest income	18	0	21	22	17	15	14	15	20	19	17	18
Interest expense	0	0	2	1	1	1	1	0	1	0	1	−1
Other non-operating income	−16	10	−21	−22	−16	−22	−18	−28	−60	−226	−16	7
Income before tax	140	141	187	183	174	210	222	227	270	457	303	270
Income tax expense	29	38	44	47	43	50	53	52	59	90	70	64
Net income from continuing operations	112	104	143	136	130	160	168	176	211	367	233	207
Net income	99	89	126	119	114	142	148	154	186	325	205	181
EPS, basic	$0.47	$0.42	$0.59	$0.56	$0.53	$0.67	$0.70	$0.72	$0.87	$1.52	$0.96	$0.85
EPS, diluted	$0.46	$0.42	$0.59	$0.55	$0.53	$0.66	$0.69	$0.71	$0.86	$1.51	$0.96	$0.85
Weighted average shares, basic	212	212	213	213	213	213	213	213	213	213	213	212
Weighted average shares, diluted	213	214	215	215	215	215	215	215	215	215	213	213
EBITDA	187	180	238	234	233	274	285	291	334	517	364	299
Depreciation & amortization	47	48	49	50	58	63	63	63	64	60	61	61
EBIT	141	132	189	184	175	211	222	227	270	457	304	238