Tradeweb Markets (TW) EBITDA Margin (2018 - 2026)
Tradeweb Markets (TW) reported EBITDA Margin of 54.88% for Q2 2026, up 3.63 percentage points from 51.25% a year earlier but down 1.45 percentage points from the prior quarter.
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Analysis
Tradeweb Markets (TW) EBITDA Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Tradeweb Markets' EBITDA Margin came in at 54.86%, up 3.27 percentage points year-over-year; for FY2025, it was 52.89%, up 0.86 percentage points from FY2024.
- EBITDA Margin has increased for eight consecutive years, with a five-year change of +6.16 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at 52.03% in FY2024 (+0.42 pp), 51.61% in FY2023 (+1.85 pp), 49.75% in FY2022 (+0.50 pp) and 49.25% in FY2021 (+2.52 pp).
- Five-year quarterly EBITDA Margin spans a low of 46.56% in Q4 2022 and a high of 56.33% in Q1 2026.
- Year over year, EBITDA Margin gained in four of the last eight quarters, with an average year-over-year change of +1.29 percentage points.
- The high point for year-over-year EBITDA Margin in five years was Q3 2025 (a gain of 5.63 percentage points); the low point was Q3 2024 (a drop of 3.79 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 56.33% (Q1 2026), 53.94% (Q4 2025) and 54.02% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 104.70 Bn | 85.79 Bn | - | 68.12% |
| 2 | Bank of New York Mellon | 100.72 Bn | 40.09 Bn | - | 126.33% |
| 3 | Cme | 94.58 Bn | 94.58 Bn | - | 69.82% |
| 4 | Intercontinental Exchange | 85.83 Bn | 79.63 Bn | - | 49.29% |
| 5 | Nasdaq | 52.05 Bn | 49.49 Bn | 1.50 Bn | 34.64% |
| 6 | State Street | 49.39 Bn | 49.39 Bn | - | 88.24% |
| 7 | Interactive Brokers | 39.24 Bn | 32.69 Bn | - | 139.87% |
| 8 | Northern Trust | 31.94 Bn | 31.94 Bn | - | 205.77% |
| 9 | Cboe Global Markets | 26.47 Bn | 18.13 Bn | 731.60 Mn | 34.94% |
| 10 | Tradeweb Markets | 23.59 Bn | 16.31 Bn | - | 54.88% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 54.88% |
| Mar 31, 2026 | 56.33% |
| Dec 31, 2025 | 53.94% |
| Sep 30, 2025 | 54.02% |
| Jun 30, 2025 | 51.25% |
| Mar 31, 2025 | 52.35% |
| Dec 31, 2024 | 54.26% |
| Sep 30, 2024 | 48.38% |
| Jun 30, 2024 | 52.46% |
| Mar 31, 2024 | 53.09% |
| Dec 31, 2023 | 51.12% |
| Sep 30, 2023 | 52.17% |
| Jun 30, 2023 | 52.23% |
| Mar 31, 2023 | 51.02% |
| Dec 31, 2022 | 46.56% |
| Sep 30, 2022 | 51.40% |
| Jun 30, 2022 | 50.95% |
| Mar 31, 2022 | 50.10% |
| Dec 31, 2021 | 48.70% |
| Sep 30, 2021 | 49.13% |
API Access
Tradeweb Markets EBITDA Margin 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-margin&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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-margin&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();