FY2025 · ended Dec 31, 2025 · Revenue $2.05B, +18.9% YoY · Filed Feb 5, 2026
Tradeweb Markets Inc. (TW) files with the SEC under industry code 6200, Security & Commodity Brokers, Dealers, Exchanges & Services. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $2.1 billion and net income of $812.8 million. Free cash flow was $1.1 billion. As of Sep 30, 2026 it held $2.1 billion in cash and investments and $149.3 million in total debt.
Revenue (TTM)
$2.28B
+14.4% vs year-ago TTM
Net income (TTM)
$909.05M
+44.3% vs year-ago TTM
Operating cash flow (TTM)
$1.20B
+9.8% vs year-ago TTM
Free cash flow (TTM)
$1.15B
+10.2% vs year-ago TTM
EPS (TTM)
$4.27
+45.7% vs year-ago TTM
Dividend per share
$0.48
+20.0% vs prior year
Shares outstanding
—
Net cash
$1.97B
as of Sep 30, 2026
Operating margin
44.1%
FY 2026
Company profile
- Industry
- Security & Commodity Brokers, Dealers, Exchanges & Services (SIC 6200)
- Listed as
- TW (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- New York, NY
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1758730
Other Security & Commodity Brokers, Dealers, Exchanges & Services companies
- Cme Group Inc. CME
- Intercontinental Exchange, Inc. ICE
- Nasdaq, Inc. NDAQ
- Cboe Global Markets, Inc. CBOE
- LPL Financial Holdings Inc. LPLA
- StoneX Group Inc. SNEX
- BGC Group, Inc. BGC
- TOP Financial Group Ltd TOP
All 18 Security & Commodity Brokers, Dealers, Exchanges & Services companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $2.1B | $1.7B | $1.3B | $1.2B | $1.1B |
| Operating income | $835.3M | $678.0M | $505.3M | $412.6M | $358.8M |
| Net income | $812.8M | $501.5M | $364.9M | $309.3M | $226.8M |
| Diluted EPS | $3.78 | $2.33 | $1.71 | $1.48 | $1.09 |
| Operating cash flow | $1.2B | $897.7M | $746.1M | $632.8M | $578.0M |
| Free cash flow | $1.1B | $856.8M | $727.6M | $609.6M | $561.1M |
| Total assets | $8.2B | $7.3B | $7.1B | $6.3B | $6.0B |
| Total liabilities | $1.0B | $869.1M | $1.1B | $713.8M | $681.2M |
| Stockholders' equity | $6.5B | $5.8B | $5.4B | $5.0B | $4.6B |
| Cash and investments | $2.1B | $1.4B | $1.7B | $1.3B | $972.0M |
| Total debt | $139.2M | $35.7M | $27.5M | $27.9M | $24.3M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 29, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 29, 2026 | Oct 29, 2026 |
| 8-K |
Current report
Material agreement, Unregistered share sale, Regulation FD disclosure
|
Oct 19, 2026 | Oct 19, 2026 |
| 10-Q | Quarterly report | Jul 30, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Jul 30, 2026 | Jul 30, 2026 |
| 8-K |
Current report
Change to shareholder rights, Bylaw or fiscal year change, Shareholder vote results
|
May 20, 2026 | May 19, 2026 |
All 854 Tradeweb Markets Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.