Tradeweb Markets Inc. (TW)

Tradeweb Markets Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	812.79	501.51	364.87	309.34	226.83
Depreciation & Amortization, Total	158.45	147.15	129.54	126.7	124.19
Stock-Based Compensation	103.54	89.65	65.13	66.64	51.94
Change in Accounts Receivable	-35.34	-14.9	-50.03	-17.6	-22.25
Change in Accounts Payable	87.14	29.76	2.19	10.2	-3.48
Change in Other Net Operating Assets	10.59	-2.48	8.62	-3.13	33.59
Other Operating Activities	-83.09	93.49	167.17	90.49	118.94
Operating Cash Flow	1,168	897.74	746.09	632.82	578.02
Capital Expenditures	-40.55	-40.96	-18.53	-23.21	-16.88
Cash Acquisitions	-	-860.13	-69.71	-	-207.76
Sale (Purchase) of Intangibles	-62.54	-47.91	-43.24	-36.88	-34.47
Investment in Securities	-38.44	-20.2	-	-	-
Other Investing Activities	15	-	-1.29	-	-
Investing Cash Flow	-126.53	-969.19	-132.77	-60.1	-259.11
Issuance of Common Stock	-	6.74	15.24	10.19	93.1
Repurchase of Common Stock	-153.68	-107.05	-86.55	-201	-146.7
Common Dividends Paid	-102.34	-85.23	-75.91	-66.01	-64.57
Other Financing Activities	-51.45	-104.72	-20.96	-19.89	-17.93
Financing Cash Flow	-307.48	-290.26	-168.17	-276.7	-136.1
Foreign Exchange Rate Adjustments	10.8	-4.46	4.09	-10.84	-2.04
Net Cash Flow	744.44	-366.17	449.24	285.18	180.77
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 Margin	54.97%	49.77%	54.45%	51.36%	52.21%
Free Cash Flow Per Share	5.25	3.99	3.42	2.92	2.71
Cash Interest Paid	2.55	2.57	1.31	1.47	-
Cash Income Tax Paid	58.06	152.01	28.64	13.2	3.88

Updated Feb 5, 2026. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.

SEC Filings: 10-K · 10-Q