Tradeweb Markets Inc. splits its revenue into 4 lines in its filings. The largest line in fiscal 2025, which ended Dec 31, 2025 was Transaction Fee Revenue at $1.7 billion, 83% of the total.
USD in millions. The percent under a figure is the change from the year before.
| Line |
FY 2026
Sep 30, 2026
|
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
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
|---|---|---|---|---|---|---|---|---|
| Revenue |
2,282
|
2,052
|
1,726
|
1,338
|
1,189
|
1,076
|
893
|
776
|
| Transaction Fee Revenue |
1,909
+15.2%
share 83.6%
|
1,700
+19.5%
share 82.8%
|
1,424
+32.0%
share 82.5%
|
1,078
+13.5%
share 80.6%
|
950
+12.3%
share 79.9%
|
846
+24.2%
share 78.6%
|
682
+19.0%
share 76.4%
|
573
share 73.9%
|
| Subscription Fee Revenue |
243
+6.3%
share 10.7%
|
234
+13.2%
share 11.4%
|
207
+12.3%
share 12.0%
|
184
+10.9%
share 13.7%
|
166
+4.7%
share 14.0%
|
158
+11.3%
share 14.7%
|
142
+2.6%
share 15.9%
|
139
share 17.9%
|
| Market Data Revenue |
103
+13.7%
share 4.5%
|
93
+13.5%
share 4.5%
|
82
+27.7%
share 4.8%
|
64
+2.6%
share 4.8%
|
63
+2.6%
share 5.3%
|
61
+2.4%
share 5.7%
|
60
+7.3%
share 6.7%
|
56
share 7.2%
|
| Financial Service Other |
27
+47.0%
share 1.2%
|
25
+82.3%
share 1.2%
|
14
+17.6%
share 0.8%
|
12
+17.2%
share 0.9%
|
10
-5.9%
share 0.8%
|
10
+16.4%
share 1.0%
|
9
+9.1%
share 1.0%
|
8
share 1.1%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.
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
Source: SEC EDGAR filings. This is company-reported data, not investment advice.