Tradeweb Markets Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,052	1,726	1,338	1,189	1,076
Revenue Growth (YoY)	18.92%	28.97%	12.57%	10.44%	20.59%
Gross Profit	2,052	1,726	1,338	1,189	1,076
Selling, General & Admin	966.9	827.92	647.6	597.33	546.31
Depreciation & Amortization Expenses	250.19	220	185.35	178.88	171.31
Total Operating Expenses	1,217	1,048	832.95	776.21	717.62
Operating Income	835.34	678.03	505.27	412.57	358.83
Interest Income	68.41	74.04	67.4	13.71	-1.59
Interest Expense	-1.94	-4.28	-2.05	-1.81	-
Other Non-Operating Income (Expense)	273.17	6.62	-22.64	12.65	11.16
Total Non-Operating Income (Expense)	339.64	76.37	42.71	24.56	9.57
Pretax Income	1,175	754.4	547.98	437.13	369.98
Provision for Income Taxes	253.47	184.44	128.48	77.52	96.88
Net Income	812.79	501.51	364.87	309.34	226.83
Minority Interest in Earnings	108.71	68.46	54.64	50.28	46.28
Net Income to Common	812.79	501.51	364.87	309.34	226.83
Net Income Growth	62.07%	37.45%	17.95%	36.38%	36.40%
Shares Outstanding (Basic)	213	213	211	206	201
Shares Outstanding (Diluted)	215	215	213	208	207
Shares Change (YoY)	-0.01%	1.06%	2.05%	0.55%	10.11%
EPS (Basic)	3.81	2.35	1.73	1.50	1.13
EPS (Diluted)	3.78	2.33	1.71	1.48	1.09
EPS Growth	62.23%	36.26%	15.54%	35.78%	23.86%
Free Cash Flow	1,127	856.78	727.56	609.61	561.14
Free Cash Flow Growth	31.55%	17.76%	19.35%	8.64%	29.97%
Free Cash Flow Per Share	5.24	3.99	3.42	2.93	2.71
Dividends Per Share	0.480	0.400	0.360	0.320	0.320
Dividend Growth	20.00%	11.11%	12.50%	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	40.70%	39.28%	37.76%	34.71%	33.33%
Profit Margin	44.90%	33.02%	31.35%	30.25%	25.37%
FCF Margin	54.92%	49.64%	54.37%	51.28%	52.13%
EBITDA	1,086	898.03	690.62	591.45	530.14
EBITDA Margin	52.89%	52.03%	51.61%	49.75%	49.25%
EBIT	835.34	678.03	505.27	412.57	358.83
EBIT Margin	40.70%	39.28%	37.76%	34.71%	33.33%
Effective Tax Rate	21.57%	24.45%	23.45%	17.73%	26.18%

Updated Feb 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q