Tradeweb Markets (TW) EBITDA Margin (2018 - 2026)
Tradeweb Markets (TW) posted quarterly EBITDA Margin of 47.66% for Q1 2026, up 642.0% year-over-year from 6.42% in Q1 2025, and up 8.9% on a QoQ basis from 43.77% in Q4 2025.
Tradeweb Markets (TW) EBITDA Margin (2018 - 2026) Analysis & Trends
Tradeweb Markets (TW) has reported EBITDA Margin for 9 consecutive years, with 47.66% the latest figure, recorded in Q1 2026.
- In Q1 2026, EBITDA Margin rose 642.0% year-over-year to 47.66%; the TTM figure through Mar 2026 stood at 43.74% (up 335.0% YoY), while the FY2025 annual figure was 41.95%, up 135.0% from the prior year.
- EBITDA Margin came in at 47.66% for Q1 2026 at Tradeweb Markets, 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.
- Across the five-year window, EBITDA Margin soared 682 bps in 2023 and slumped 290 bps in 2024, its largest moves.
- Year by year, EBITDA Margin stood at 32.91% in 2022, then increased by 21 bps to 39.74% in 2023, then rose by 6 bps to 42.12% in 2024, then increased by 4 bps to 43.77% in 2025, then rose by 9 bps to 47.66% in 2026.
- According to Business Quant data, EBITDA Margin over the past three periods registered 47.66%, 43.77%, and 42.62% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 95.15% |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 136.81% |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | 61.80% |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | 124.07% |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 28.49% |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | 11.84% |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | 47.66% |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 110.52% |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | -176.07% |
| 10 | Evercore | 13.30 Bn | 11.58 Bn | 1.38 Bn | 23.13% |
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% |