Tradeweb Markets Cash Flow 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
Net Income	986.36	921.5	569.96	419.5	359.61	273.11
Depreciation & Amortization	248.2	250.19	220	185.35	178.88	171.31
Stock-Based Compensation	106.41	103.54	89.65	65.13	66.64	51.94
Other Adjustments	-167.35	-191.8	25.03	112.54	40.21	72.66
Change in Receivables	-79.28	-30.06	-44.22	-21.08	-17.23	-22.37
Changes in Accounts Payable	34.05	87.14	29.76	2.19	10.2	-1.9
Changes in Accrued Expenses	5.09	24.69	56.46	7.96	-0.55	1.14
Changes in Unearned Revenue	7.25	-2.03	4.58	2.8	-1.99	-3.48
Changes in Other Operating Activities	81.18	4.48	-53.48	-28.29	-2.95	35.6
Operating Cash Flow	1,211	1,168	897.74	746.09	632.82	578.02
Operating Cash Flow Growth	31.66%	30.06%	20.33%	17.90%	9.48%	30.41%
Capital Expenditures	-48.5	-40.55	-40.96	-18.53	-23.21	-16.88
Purchases of Intangible Assets	-66.88	-62.54	-47.91	-43.24	-36.88	-34.47
Proceeds from Sale of Intangible Assets	-	15	-	-	-	-
Purchases of Investments	-88.63	-38.44	-20.2	-	-	-
Payments for Business Acquisitions	-	-	-860.13	-69.71	-	-207.76
Other Investing Activities	-	-	-	-1.29	-	-
Investing Cash Flow	-189.02	-126.53	-969.19	-132.77	-60.1	-259.11
Issuance of Common Stock	2.98	-	6.74	15.24	10.19	93.1
Repurchase of Common Stock	-156.66	-104.17	-59.05	-35.21	-99.32	-75.68
Net Common Stock Issued (Repurchased)	-153.68	-104.17	-52.31	-19.97	-89.13	17.43
Common Dividends Paid	-106.54	-102.34	-85.23	-75.91	-66.01	-64.57
Other Financing Activities	-136.37	-100.96	-152.72	-72.3	-121.56	-88.96
Financing Cash Flow	-396.59	-307.48	-290.26	-168.17	-276.7	-136.1
Effect of Exchange Rate Changes on Cash and Cash Equivalents	5.19	10.8	-4.46	4.09	-10.84	-2.04
Net Cash Flow	630.85	744.44	-366.17	449.24	285.18	180.77
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%
FCF Margin	53.82%	54.92%	49.64%	54.37%	51.28%	52.13%
Free Cash Flow Per Share	5.42	5.24	3.99	3.42	2.93	2.71
Levered Free Cash Flow	1,197	1,137	717.87	516.34	469.71	412.63
Unlevered Free Cash Flow	1,048	979.05	728.62	538.28	499.78	450.67

SEC Filings: 10-K · 10-Q