Tradeweb Markets Inc - Ordinary Shares Cls A

Tradeweb Markets Inc - Ordinary Shares Cls A

TW

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Market Cap$21.4B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Tradeweb Markets Inc - Ordinary Shares Cls ATradeweb Markets Inc - Ordinary Shares Cls A23.90.52%14%10-

Earnings Call Q2 2026

July 30, 2026 - AI Summary

Strong growth + momentum through Q2 (and early Q3) - Tradeweb reported Q2 revenue of $559m (+9% YoY reported; +8.3% constant currency), which management called the 2nd-highest quarterly revenue in history. - CEO emphasized growth became stronger as the quarter progressed; June revenue grew >20% YoY, and this was not just one-off volatility—attributed to deeper client engagement, broader electronification, and long-term tech investments. - Through 1H 2026, revenue is nearly $1.2b, almost matching all of 2022; management expects continued strength with July average daily revenue growth up low teens YoY (with two key month-end trading days left).
International scale-up is the main driver - International revenue grew +14% YoY, and contributed 65% of overall revenue growth—described as broad-based across all 4 asset classes (rates, credit, equities, market data). - Europe/APAC/EM initiatives “continued to pay off,” with management highlighting constructive activity and renewed signs in Europe.
Asset-class performance: strong tech/electronification themes, with some pockets of weakness - Rates: U.S. Treasuries showed mid-single-digit revenue growth with market share up to 22.5% (+100 bps YoY); institutional U.S. Treasuries revenue +~15% YoY and electronic institutional share >50% for 9 straight quarters. - Equities/ETFs: ETF revenue >10% YoY despite normalization in volatility; AiEX automation trades +45% YoY, with U.S. ETFs triple-digit growth and European ETFs double-digit growth. - Market data: up >20% YoY driven by LSEG contract + proprietary products. - Global credit: low single-digit revenue growth, but mixed internally—double-digit growth in international credit and U.S. institutional credit; municipal bonds and retail credit down (retail credit -22% YoY) attributed to better relative yields in other products.

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$124.64

Target Price by Analysts

24% upsideTradeweb Markets Target Price DetailsTarget Price
$187.91

Current Fair Value

87% upside

Undervalued by 87% based on the discounted cash flow analysis.

Share Statistics

Market cap$21.40 Billion
Enterprise Value$19.53 Billion
Dividend Yield$0.52 (0.52%)
Earnings per Share$3.81
Beta0.62
Outstanding Shares212,463,597

Return

Return on Equity13.90%ROE
Return on Assets11.18%
Return on Invested Capital13.95%

Valuation & Multiples

P/E Ratio23.93P/E Ratio
PEG133.64PEG
Price to Sales10.05Price to Sales
Price to Book Ratio2.96Price to Book Ratio
Enterprise Value to Revenue8.85
Enterprise Value to EBIT17.36
Enterprise Value to Net Income21
Total Debt to Enterprise0.01
Debt to Equity0.03Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 30, 2026
EPS Estimate
$0.94
Average shareholder expectation
Revenue Estimate
$559.18 M
Average shareholder expectation

Next Earnings Call

Expected Date
October 29, 2026
EPS Estimate
$1.00
Average shareholder expectation
Revenue Estimate
$576.70 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 67.34%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %2.43%▼ 52.35%
Total Invested$514.34M▼ 96.25%
Investors Holding150▼ 443.00%

ESG Score

No data

About Tradeweb Markets Inc

Tradeweb Markets Inc. is an international financial services company that builds and operates electronic over-the-counter marketplaces for trading fixed income products, ETFs and derivatives. The company was co-founded in 1996 by Lee O...

Relevant Senate Committees

Joint Committee on Taxation

This committee's technical analysis and official 'revenue estimates' are critical for shaping tax legislation, directly influencing corporate tax structures and capital markets that affect Tradeweb and its clients.

Finance

This powerful committee controls taxation and trade policy, directly impacting corporate valuations, capital flows, and the overall profitability and structure of the financial sector, including Tradeweb.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, a primary regulator for derivatives markets, which are a core product traded on Tradeweb's platforms. Its influence on defining cryptocurrencies as commodities is also highly relevant.

Banking, Housing, and Urban Affairs

This committee directly regulates the financial system, including the SEC and the Fed, and impacts bank capital requirements and securities market regulations, all of which are central to Tradeweb's business and its institutional clients.