Tradeweb Markets Inc. (TW)
NASDAQ: TW · Real-Time Price · USD
100.50
+2.70 (2.76%)
Jul 31, 2026, 4:00 PM EDT - Market closed
Tradeweb Markets Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Net Income | 1,018 | 921.5 | 569.96 | 419.5 | 359.61 | 273.11 |
Depreciation & Amortization | 246.64 | 250.19 | 220 | 185.35 | 178.88 | 171.31 |
Stock-Based Compensation | 109.31 | 103.54 | 89.65 | 65.13 | 66.64 | 51.94 |
Other Adjustments | -150.9 | -191.8 | 25.03 | 112.54 | 40.21 | 72.66 |
Change in Receivables | -48.54 | -30.06 | -44.22 | -21.08 | -17.23 | -22.37 |
Changes in Accounts Payable | 32.41 | 87.14 | 29.76 | 2.19 | 10.2 | -1.9 |
Changes in Accrued Expenses | 0.31 | 24.69 | 56.46 | 7.96 | -0.55 | 1.14 |
Changes in Unearned Revenue | -2.14 | -2.03 | 4.58 | 2.8 | -1.99 | -3.48 |
Changes in Other Operating Activities | 3.42 | 4.48 | -53.48 | -28.29 | -2.95 | 35.6 |
Operating Cash Flow | 1,196 | 1,168 | 897.74 | 746.09 | 632.82 | 578.02 |
Operating Cash Flow Growth | 14.63% | 30.06% | 20.33% | 17.90% | 9.48% | 30.41% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Capital Expenditures | -51.37 | -40.55 | -40.96 | -18.53 | -23.21 | -16.88 |
Purchases of Intangible Assets | -69.19 | -62.54 | -47.91 | -43.24 | -36.88 | -34.47 |
Proceeds from Sale of Intangible Assets | - | 15 | - | - | - | - |
Purchases of Investments | -75.32 | -38.44 | -20.2 | - | - | - |
Cash Acquisitions | - | - | -860.13 | -69.71 | - | -207.76 |
Other Investing Activities | - | - | - | -1.29 | - | - |
Investing Cash Flow | -180.88 | -126.53 | -969.19 | -132.77 | -60.1 | -259.11 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Issuance of Common Stock | 2.98 | - | 6.74 | 15.24 | 10.19 | 93.1 |
Repurchase of Common Stock | -343.88 | -104.17 | -59.05 | -35.21 | -99.32 | -75.68 |
Net Common Stock Issued (Repurchased) | -340.9 | -104.17 | -52.31 | -19.97 | -89.13 | 17.43 |
Common Dividends Paid | -110.67 | -102.34 | -85.23 | -75.91 | -66.01 | -64.57 |
Other Financing Activities | -133.42 | -100.96 | -152.72 | -72.3 | -121.56 | -88.96 |
Financing Cash Flow | -584.99 | -307.48 | -290.26 | -168.17 | -276.7 | -136.1 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Foreign Exchange Rate Adjustments | -2.52 | 10.8 | -4.46 | 4.09 | -10.84 | -2.04 |
Net Cash Flow | 427.81 | 744.44 | -366.17 | 449.24 | 285.18 | 180.77 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Free Cash Flow | 1,145 | 1,127 | 856.78 | 727.56 | 609.61 | 561.14 |
Free Cash Flow Growth | 13.70% | 31.55% | 17.76% | 19.35% | 8.64% | 29.97% |
FCF Margin | 51.88% | 54.92% | 49.64% | 54.37% | 51.28% | 52.13% |
Free Cash Flow Per Share | 5.35 | 5.24 | 3.99 | 3.42 | 2.93 | 2.71 |
Levered Free Cash Flow | 1,127 | 1,137 | 717.87 | 516.34 | 469.71 | 412.63 |
Unlevered Free Cash Flow | 984.06 | 979.05 | 728.62 | 538.28 | 499.78 | 450.67 |