Tradeweb Markets Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	2,161	2,052	1,726	1,338	1,189	1,076
Revenue Growth (YoY)	18.26%	18.92%	28.97%	12.57%	10.44%	20.59%
Gross Profit	2,161	2,052	1,726	1,338	1,189	1,076
Selling, General & Admin	993.83	966.9	827.92	647.6	597.33	546.31
Depreciation & Amortization Expenses	248.2	250.19	220	185.35	178.88	171.31
Total Operating Expenses	1,242	1,217	1,048	832.95	776.21	717.62
Operating Income	918.49	835.34	678.03	505.27	412.57	358.83
Interest Income	72.01	68.41	74.04	67.4	13.71	-1.59
Interest Expense	-1.98	-1.94	-4.28	-2.05	-1.81	-
Other Non-Operating Income (Expense)	267.79	273.17	6.62	-22.64	12.65	11.16
Total Non-Operating Income (Expense)	337.82	339.64	76.37	42.71	24.56	9.57
Pretax Income	1,256	1,175	754.4	547.98	437.13	369.98
Provision for Income Taxes	269.95	253.47	184.44	128.48	77.52	96.88
Net Income	869.69	812.79	501.51	364.87	309.34	226.83
Minority Interest in Earnings	116.67	108.71	68.46	54.64	50.28	46.28
Net Income to Common	869.69	812.79	501.51	364.87	309.34	226.83
Net Income Growth	66.05%	62.07%	37.45%	17.95%	36.38%	36.40%
Shares Outstanding (Basic)	213	213	213	211	206	201
Shares Outstanding (Diluted)	215	215	215	213	208	207
Shares Change (YoY)	-0.22%	-0.01%	1.06%	2.05%	0.55%	10.11%
EPS (Basic)	4.07	3.81	2.35	1.73	1.50	1.13
EPS (Diluted)	4.04	3.78	2.33	1.71	1.48	1.09
EPS Growth	66.25%	62.23%	36.26%	15.54%	35.78%	23.86%
Shares Outstanding	212.97	212.44	212.91	212.02	207.68	203.22
Free Cash Flow	1,163	1,127	856.78	727.56	609.61	561.14
Free Cash Flow Growth	3.17%	31.55%	17.76%	19.35%	8.64%	29.97%
Free Cash Flow Per Share	5.42	5.24	3.99	3.42	2.93	2.71
Dividends Per Share	0.500	0.480	0.400	0.360	0.320	0.320
Dividend Growth	4.17%	20.00%	11.11%	12.50%	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	42.51%	40.70%	39.28%	37.76%	34.71%	33.33%
Profit Margin	45.65%	44.90%	33.02%	31.35%	30.25%	25.37%
FCF Margin	53.82%	54.92%	49.64%	54.37%	51.28%	52.13%
EBITDA	1,167	1,086	898.03	690.62	591.45	530.14
EBITDA Margin	54.00%	52.89%	52.03%	51.61%	49.75%	49.25%
EBIT	918.49	835.34	678.03	505.27	412.57	358.83
EBIT Margin	42.51%	40.70%	39.28%	37.76%	34.71%	33.33%
Effective Tax Rate	21.49%	21.57%	24.45%	23.45%	17.73%	26.18%

Updated Apr 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q