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TW Q3 2025 Earnings — Tradeweb Markets Inc. Revenue & Financial Results | Market Cap Arena
TW
Tradeweb Markets Inc.
$27B
Q3 2025 Earnings
Financial Services
Financial - Capital Markets
Income Statement
Revenue
$509M
+13.3% YoY
Gross Profit
$344M
67.6% margin
Operating Income
$210M
41.4% margin
Net Income
$186M
36.5% margin
EPS (Diluted)
$0.86
QoQ Revenue Growth
-0.9%
Cash Flow
Operating Cash Flow
$342M
Free Cash Flow
$311M
Stock-Based Comp.
$26M
Balance Sheet
Total Assets
$8.0B
Total Liabilities
$1.1B
Stockholders' Equity
$6.3B
Cash & Equivalents
$1.9B
Year-over-Year Comparison
Metric
Current
Year Ago
Change
Revenue
$509M
$449M
+13.3%
Gross Profit
$344M
$289M
+19.0%
Operating Income
$210M
$159M
+32.0%
Net Income
$186M
$114M
+63.0%
Revenue Segments
Transaction Fee Revenue
$421M
83%
Subscription Fee Revenue
$61M
12%
Market Data Revenue
$21M
4%
Financial Service, Other
$6M
1%
Geographic Segments
UNITED STATES
$297M
58%
Non-US
$211M
42%
← FY 2025
All Quarters
Q4 2025 →