Tradeweb Markets (TW) EBITDA Margin (2018 - 2026)
Tradeweb Markets' quarterly EBITDA Margin came in at 47.66% in Q1 2026, up 642.0% year-on-year from 6.42% in Q1 2025, and up 8.9% quarter-over-quarter from 43.77% in Q4 2025.
Tradeweb Markets has reported EBITDA Margin for 9 years, with the latest figure at 47.66% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 642.0% year-over-year to 47.66%; the trailing twelve-month figure through Mar 2026 stood at 43.74% (up 335.0% YoY), and the FY2025 full-year result was 41.95%, up 135.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 47.66%, up from 43.77% in the prior quarter.
- The five-year high for EBITDA Margin was 47.66% in Q1 2026, with the low at 32.91% in Q4 2022.
- Average EBITDA Margin over 5 years is 40.04%, with a median of 39.74% recorded in 2023.
- Year-over-year, EBITDA Margin surged 682 bps in 2023 and sank 290 bps in 2024.
- Tracing TW's EBITDA Margin over 5 years: stood at 32.91% in 2022, then climbed by 21 bps to 39.74% in 2023, then grew by 6 bps to 42.12% in 2024, then climbed by 4 bps to 43.77% in 2025, then grew by 9 bps to 47.66% in 2026.
- The last three EBITDA Margin figures came in at 47.66% (Q1 2026), 43.77% (Q4 2025), and 42.62% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.71 Bn | 197.18 Bn | - | 95.15% |
| 2 | Goldman Sachs | 318.59 Bn | -618.96 Bn | - | 136.81% |
| 3 | Schwab Charles | 154.74 Bn | 109.76 Bn | - | 61.80% |
| 4 | Robinhood Markets | 81.79 Bn | 77.15 Bn | 960.00 Mn | 28.49% |
| 5 | Interactive Brokers | 39.54 Bn | 50.13 Bn | - | 14.74% |
| 6 | Circle Internet | 25.60 Bn | 24.08 Bn | 35.01 Mn | 110.52% |
| 7 | LPL Financial Holdings | 22.12 Bn | 21.10 Bn | - | 11.84% |
| 8 | Iren | 21.58 Bn | 19.37 Bn | 144.76 Mn | -176.07% |
| 9 | Tradeweb Markets | 21.29 Bn | 20.04 Bn | - | 47.66% |
| 10 | Hut 8 | 14.71 Bn | 14.86 Bn | 45.47 Mn | -369.55% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 47.66% |
| Dec 31, 2025 | 43.77% |
| Sep 30, 2025 | 42.62% |
| Jun 30, 2025 | 40.11% |
| Mar 31, 2025 | 41.24% |
| Dec 31, 2024 | 42.12% |
| Sep 30, 2024 | 36.74% |
| Jun 30, 2024 | 41.41% |
| Mar 31, 2024 | 42.32% |
| Dec 31, 2023 | 39.74% |
| Sep 30, 2023 | 39.63% |
| Jun 30, 2023 | 39.16% |
| Mar 31, 2023 | 38.77% |
| Dec 31, 2022 | 32.91% |
| Sep 30, 2022 | 37.55% |
| Jun 30, 2022 | 37.53% |
| Mar 31, 2022 | 37.34% |
| Dec 31, 2021 | 34.41% |
| Sep 30, 2021 | 34.38% |
| Jun 30, 2021 | 34.31% |
| Mar 31, 2021 | 37.94% |
| Dec 31, 2020 | 32.86% |
| Sep 30, 2020 | 29.70% |
| Jun 30, 2020 | 28.31% |
| Mar 31, 2020 | 34.92% |
| Dec 31, 2019 | 27.54% |
| Sep 30, 2019 | 28.99% |
| Jun 30, 2019 | 16.25% |
| Mar 31, 2019 | 24.77% |
| Sep 30, 2018 | 57.05% |
| Jun 30, 2018 | 1,485.28% |
| Mar 31, 2018 | 169.83% |