Tradeweb Markets Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Total Interest Expense	2.11	4.28	2.05	1.81	1.59	0.32
Net Interest Income	-2.11	-4.28	-2.05	-1.81	-1.59	-0.32
Other Revenue	1,995	1,726	1,338	1,189	1,076	892.66
Revenue	1,992	1,722	1,336	1,187	1,075	892.34
Revenue Growth (YoY)	22.37%	28.85%	12.57%	10.43%	20.45%	15.06%
Salaries & Employee Benefits	660.87	585.69	460.31	417.42	405.56	349.66
Cost of Services Provided	255.9	216.13	181.8	164.91	133.98	125.86
Total Operating Expenses	1,170	1,022	827.45	761.21	710.85	629.3
Operating Income	822.75	699.85	508.72	425.77	364.01	263.04
Currency Exchange Gains	-	-	-1.29	-	-	-
Other Non-Operating Income (Expenses)	138.25	81.95	57.15	27.37	12.75	11.43
EBT Excluding Unusual Items	961.01	781.8	564.58	453.13	376.76	274.46
Merger & Restructuring Charges	-23.4	-23.4	-5.5	-	-5.07	-
Gain (Loss) on Sale of Investments	-10.5	-1.3	-11.1	-1	-	-
Other Unusual Items	1.4	-2.7	-	-15	-1.7	-
Pretax Income	928.51	754.4	547.98	437.13	369.98	274.46
Income Tax Expense	214.19	184.44	128.48	77.52	96.88	56.07
Earnings From Continuing Ops.	714.32	569.96	419.5	359.61	273.11	218.39
Minority Interest in Earnings	-84.31	-68.46	-54.64	-50.28	-46.28	-52.09
Net Income	630.01	501.51	364.87	309.34	226.83	166.3
Preferred Dividends & Other Adjustments	0.54	0.39	0.47	0.24	-	-
Net Income to Common	629.47	501.12	364.4	309.09	226.83	166.3
Net Income Growth	40.44%	37.45%	17.95%	36.38%	36.40%	31.85%
Shares Outstanding (Basic)	213	213	211	206	201	180
Shares Outstanding (Diluted)	215	215	213	208	207	188
Shares Change (YoY)	0.16%	1.06%	2.05%	0.55%	10.11%	20.24%
EPS (Basic)	2.95	2.35	1.73	1.50	1.13	0.92
EPS (Diluted)	2.93	2.33	1.71	1.48	1.09	0.88
EPS Growth	40.82%	36.26%	15.54%	35.78%	23.86%	62.96%
Free Cash Flow	1,047	856.78	727.56	609.61	561.14	431.74
Free Cash Flow Per Share	4.87	3.99	3.42	2.92	2.71	2.29
Dividend Per Share	0.460	0.400	0.360	0.320	0.320	0.320
Dividend Growth	17.95%	11.11%	12.50%	-	-	33.33%
Operating Margin	41.29%	40.65%	38.07%	35.87%	33.87%	29.48%
Profit Margin	31.59%	29.11%	27.27%	26.04%	21.10%	18.64%
Free Cash Flow Margin	52.56%	49.77%	54.45%	51.36%	52.21%	48.38%
Effective Tax Rate	23.07%	24.45%	23.45%	17.73%	26.18%	20.43%
Revenue as Reported	1,995	1,726	1,338	1,189	1,076	892.66

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.