TW Stock Analysis: Tradeweb Markets | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 21.916m USD | 12M Return: -25.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 142M
EPS Trend: 99.1%
Qual. Beats: 4
Rev. Trend: 99.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Tradeweb Markets Inc. (TW) operates electronic marketplaces that facilitate trading across multiple asset classes, including rates, credit, equities, and money markets, serving institutional, wholesale, retail, and corporate clients such as asset managers, hedge funds, banks, and central banks. The companys platform spans the full trade lifecycle, offering pre-trade data and analytics (e.g., AI-Pricing, market data integrations), trade execution across a wide range of protocols (including request-for-quote, central limit order book, portfolio trading, and voice), trade processing, and post-trade services such as transaction cost analysis and regulatory reporting.
Founded in 1996 and headquartered in New York, Tradeweb is majority-owned by Refinitiv Parent Limited, which is itself controlled by the London Stock Exchange Group (LSEG). The company operates within the Financial Exchanges & Data sub-industry, a sector characterized by network-based business models where scale, multi-asset connectivity, and data products are central to competitive positioning. The company went public in April 2019.
- Rates trading volumes swing with Federal Reserve policy shifts
- Credit market share gains pressure Bloomberg and MarketAxess
- Equity ETF platform expansion accelerates client growth
| Net Income: 869.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 2.13 > 1.0 |
| NWC/Revenue: 83.30% < 20% (prev 78.76%; Δ 4.54% < -1%) |
| CFO/TA 0.15 > 3% & CFO 1.21b > Net Income 869.7m |
| Net Debt (-1.79b) to EBITDA (1.51b): -1.19 < 3 |
| Current Ratio: 3.64 > 1.5 & < 3 |
| Outstanding Shares: last quarter (213.3m) vs 12m ago -0.73% < -2% |
| Gross Margin: 67.98% > 18% (prev 65.71%; Δ 2.27% > 0.5%) |
| Asset Turnover: 27.58% > 50% (prev 24.79%; Δ 2.79% > 0%) |
| Interest Coverage Ratio: 636.1 > 6 (EBIT TTM 1.26b / Interest Expense TTM 1.98m) |
| A: 0.22 (Total Current Assets 2.48b - Total Current Liabilities 681.4m) / Total Assets 8.30b |
| B: 0.21 (Retained Earnings 1.73b / Total Assets 8.30b) |
| C: 0.16 (EBIT TTM 1.26b / Avg Total Assets 7.83b) |
| D: 6.71 (Book Value of Equity 6.62b / Total Liabilities 986.1m) |
| Altman-Z'' = 10.23 = AAA |
| DSRI: 1.01 (Receivables 485.5m/407.3m, Revenue 2.16b/1.83b) |
| GMI: 0.97 (GM 65.71% / 67.98%) |
| AQI: 0.91 (AQ_t 0.68 / AQ_t-1 0.74) |
| SGI: 1.18 (Revenue 2.16b / 1.83b) |
| TATA: -0.04 (NI 869.7m - CFO 1.21b) / TA 8.30b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of July 28, 2026, the stock is trading at USD 102.02 with a total of 710,654 shares traded. Over the past week, the price has changed by +1.49%, over one month by +10.77%, over three months by -8.33% and over the past year by -25.63%.
Current recommended Stop Loss: 94.70 (which is 7.2% or 2.4 ATR below the current price).
Tradeweb Markets has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy TW.
- StrongBuy: 6
- Buy: 5
- Hold: 4
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 128.5 | 26% |
P/E Trailing = 24.0222
P/E Forward = 30.303
P/S = 9.8269
P/B = 3.2337
P/EG = 2.0185
Revenue TTM = 2.16b USD
EBIT TTM = 1.26b USD
EBITDA TTM = 1.51b USD
Long Term Debt = unknown (0.0)
Short Term Debt = 142.8m USD (from shortTermDebt, last quarter)
Debt = 142.8m USD (from shortLongTermDebtTotal, last quarter) (leases 142.8m already included)
Net Debt = -1.79b USD (calculated: Debt 142.8m - CCE 1.94b)
Enterprise Value = 20.1b USD (21.9b + Debt 142.8m - CCE 1.94b)
Interest Coverage Ratio = 636.1 (Ebit TTM 1.26b / Interest Expense TTM 1.98m)
EV/FCF = 17.81x (Enterprise Value 20.1b / FCF TTM 1.13b)
FCF Yield = 5.62% (FCF TTM 1.13b / Enterprise Value 20.1b)
FCF Margin = 52.30% (FCF TTM 1.13b / Revenue TTM 2.16b)
Net Margin = 40.25% (Net Income TTM 869.7m / Revenue TTM 2.16b)
Gross Margin = 67.98% ((Revenue TTM 2.16b - Cost of Revenue TTM 691.7m) / Revenue TTM)
Gross Margin QoQ = 67.98% (prev 69.44%)
Tobins Q-Ratio = 2.43 (Enterprise Value 20.1b / Total Assets 8.30b)
Interest Expense / Debt = 1.38% (Interest Expense 1.98m / Debt 142.8m)
Taxrate = 21.49% (270.0m / 1.26b)
NOPAT = 987.9m (EBIT 1.26b * (1 - 21.49%))
Current Ratio = 3.64 (Total Current Assets 2.48b / Total Current Liabilities 681.4m)
Debt / Equity = 0.02 (Debt 142.8m / totalStockholderEquity, last quarter 6.62b)
Debt / EBITDA = -1.19 (Net Debt -1.79b / EBITDA 1.51b)
Debt / FCF = -1.59 (Net Debt -1.79b / FCF TTM 1.13b)
Total Stockholder Equity = 6.38b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.10% (Net Income 869.7m / Total Assets 8.30b)
RoE = 13.64% (Net Income TTM 869.7m / Total Stockholder Equity 6.38b)
RoCE = 19.73% (EBIT 1.26b / Capital Employed (Equity 6.38b + L.T.Debt 0.0))
RoIC = 12.92% (NOPAT 987.9m / Invested Capital 7.65b)
WACC = 6.41% (E(21.9b)/V(22.1b) * Re(6.44%) + D(142.8m)/V(22.1b) * Rd(1.38%) * (1-Tc(0.21)))
Discount Rate = 6.44% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -12.58 | Cagr: -0.11%
[DCF] Terminal Value 77.97% ; FCFF base≈1.02b ; Y1≈1.17b ; Y5≈1.72b
[DCF] Fair Price = 237.9 (EV 25.8b - Net Debt -1.79b = Equity 27.6b / Shares 116.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 99.11 | EPS CAGR: 24.56% | SUE: 4.0 | # QB: 4
Revenue Correlation: 99.52 | Revenue CAGR: 24.45% | SUE: 0.39 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.95 | Chg30d=-1.08% | Revisions=+40% | Analysts=13
EPS next Quarter (2026-09-30): EPS=1.00 | Chg30d=+0.34% | Revisions=+40% | Analysts=12
EPS current Year (2026-12-31): EPS=4.05 | Chg30d=-0.44% | Revisions=+50% | GrowthEPS=+16.6% | GrowthRev=+14.4%
EPS next Year (2027-12-31): EPS=4.59 | Chg30d=+0.58% | Revisions=-17% | GrowthEPS=+13.5% | GrowthRev=+11.2%
[Analyst] Revisions Ratio: +46% (up=8, down=2)