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TW Q4 2025 Earnings — Tradeweb Markets Inc. Revenue & Financial Results | Market Cap Arena
TW
Tradeweb Markets Inc.
$27B
Q4 2025 Earnings
Financial Services
Financial - Capital Markets
Income Statement
Revenue
$521M
+12.5% YoY
Gross Profit
$461M
88.5% margin
Operating Income
$230M
44.2% margin
Net Income
$325M
62.4% margin
EPS (Diluted)
$1.51
QoQ Revenue Growth
+2.5%
Cash Flow
Operating Cash Flow
$356M
Free Cash Flow
$337M
Stock-Based Comp.
$0
Balance Sheet
Total Assets
$8.2B
Total Liabilities
$1.0B
Stockholders' Equity
$6.5B
Cash & Equivalents
$2.1B
Year-over-Year Comparison
Metric
Current
Year Ago
Change
Revenue
$521M
$463M
+12.5%
Gross Profit
$461M
$311M
+48.2%
Operating Income
$230M
$189M
+22.1%
Net Income
$325M
$142M
+128.5%
Revenue Segments
Transaction Fee Revenue
$428M
82%
Subscription Fee Revenue
$60M
12%
Market Data Revenue
$23M
4%
Financial Service, Other
$10M
2%
Geographic Segments
UNITED STATES
$301M
58%
Non-US
$220M
42%
← FY 2025
All Quarters