Tradeweb Markets (TW) EBITDA (2018 - 2026)
Tradeweb Markets' EBITDA was $306.75 million in Q2 2026, up 16.7% from $262.9 million a year earlier but down 11.8% from the prior quarter.
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Analysis
Tradeweb Markets (TW) EBITDA (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Tradeweb Markets' EBITDA was $1.21 billion through Jun 30, 2026, up 21.3% year-over-year; for FY2025, it was $1.09 billion, up 20.9% from FY2024.
- EBITDA has now increased for seven consecutive years, with a five-year compound annual growth rate of 21.1% (FY2020 to FY2025).
- In earlier years, EBITDA was $898.03 million in FY2024 (+30.0%), $690.62 million in FY2023 (+16.8%), $591.45 million in FY2022 (+11.6%) and $530.14 million in FY2021 (+27.1%).
- Quarterly EBITDA has moved between $130.35 million (Q3 2021) and $347.96 million (Q1 2026) over five years.
- Compared with a year earlier, EBITDA has increased for 26 straight quarters, with growth averaging 24.0% over the last eight quarters.
- The year-over-year growth in EBITDA has ranged between 1.2% (Q4 2022) and 38.6% (Q4 2023) over the last five years.
- Per Business Quant data, TW's EBITDA in the three quarters before Q2 2026 was $347.96 million (Q1 2026), $281.1 million (Q4 2025) and $274.72 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.55 Bn | 94.65 Bn | - | 1.19 Bn |
| 2 | Intercontinental Exchange | 88.66 Bn | 82.39 Bn | - | 1.78 Bn |
| 3 | Robinhood Markets | 88.64 Bn | 69.68 Bn | - | 891.00 Mn |
| 4 | Nasdaq | 53.09 Bn | 50.52 Bn | 1.50 Bn | 877.00 Mn |
| 5 | Interactive Brokers | 36.97 Bn | 14.08 Bn | - | 2.65 Bn |
| 6 | Cboe Global Markets | 32.80 Bn | 24.46 Bn | 731.60 Mn | 504.10 Mn |
| 7 | LPL Financial Holdings | 25.70 Bn | 21.02 Bn | - | 801.19 Mn |
| 8 | Tradeweb Markets | 25.40 Bn | 17.41 Bn | - | 306.75 Mn |
| 9 | Circle Internet | 21.17 Bn | 15.05 Bn | 288.85 Mn | 64.26 Mn |
| 10 | Xp | 16.56 Bn | -5.27 Bn | 105.39 Mn | 462.21 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 306.75 Mn |
| Mar 31, 2026 | 347.96 Mn |
| Dec 31, 2025 | 281.10 Mn |
| Sep 30, 2025 | 274.72 Mn |
| Jun 30, 2025 | 262.90 Mn |
| Mar 31, 2025 | 266.80 Mn |
| Dec 31, 2024 | 251.39 Mn |
| Sep 30, 2024 | 217.19 Mn |
| Jun 30, 2024 | 212.43 Mn |
| Mar 31, 2024 | 217.02 Mn |
| Dec 31, 2023 | 189.13 Mn |
| Sep 30, 2023 | 171.30 Mn |
| Jun 30, 2023 | 162.22 Mn |
| Mar 31, 2023 | 167.97 Mn |
| Dec 31, 2022 | 136.44 Mn |
| Sep 30, 2022 | 147.59 Mn |
| Jun 30, 2022 | 151.38 Mn |
| Mar 31, 2022 | 156.05 Mn |
| Dec 31, 2021 | 134.83 Mn |
| Sep 30, 2021 | 130.35 Mn |
API Access
Tradeweb Markets EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "ticker": "TW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();