Tradeweb Markets (TW) EBT Margin (2018 - 2026)
Tradeweb Markets (TW) posted EBT Margin of 48.34% for Q2 2026, up 4.07 percentage points from 44.26% a year earlier but down 0.70 percentage points from the prior quarter.
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Analysis
Tradeweb Markets (TW) EBT Margin (2018 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EBT Margin at Tradeweb Markets was 58.89%, up 15.86 percentage points year-over-year; for FY2025, it was 57.25%, up 13.54 percentage points from FY2024.
- Annual EBT Margin has increased for eight consecutive years, with a five-year change of +26.50 percentage points (FY2020 to FY2025).
- In prior years, Tradeweb Markets' EBT Margin was 43.71% in FY2024 (+2.76 pp), 40.95% in FY2023 (+4.18 pp), 36.77% in FY2022 (+2.40 pp) and 34.37% in FY2021 (+3.62 pp).
- Quarterly EBT Margin has run from a low of 32.10% in Q3 2021 to a high of 87.63% in Q4 2025 over five years.
- On a year-over-year basis, EBT Margin has increased in each of the last four quarters, with an average year-over-year change of +8.26 percentage points over the last eight quarters.
- The strongest year-over-year quarter for EBT Margin in the past five years was Q4 2025, with a gain of 42.25 percentage points; the weakest was Q3 2024, with a drop of 4.04 percentage points.
- According to Business Quant data, EBT Margin for the three prior quarters was 49.04% (Q1 2026), 87.63% (Q4 2025) and 53.01% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 104.70 Bn | 85.79 Bn | - | 54.20% |
| 2 | Bank of New York Mellon | 100.72 Bn | 40.09 Bn | - | 40.00% |
| 3 | Cme | 94.58 Bn | 94.58 Bn | - | 77.82% |
| 4 | Intercontinental Exchange | 85.83 Bn | 79.63 Bn | - | 35.64% |
| 5 | Nasdaq | 52.05 Bn | 49.49 Bn | 1.50 Bn | 25.79% |
| 6 | State Street | 49.39 Bn | 49.39 Bn | - | 34.31% |
| 7 | Interactive Brokers | 39.24 Bn | 32.69 Bn | - | 76.79% |
| 8 | Northern Trust | 31.94 Bn | 31.94 Bn | - | 78.90% |
| 9 | Cboe Global Markets | 26.47 Bn | 18.13 Bn | 731.60 Mn | 34.29% |
| 10 | Tradeweb Markets | 23.59 Bn | 16.31 Bn | - | 48.34% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 48.34% |
| Mar 31, 2026 | 49.04% |
| Dec 31, 2025 | 87.63% |
| Sep 30, 2025 | 53.01% |
| Jun 30, 2025 | 44.26% |
| Mar 31, 2025 | 43.48% |
| Dec 31, 2024 | 45.38% |
| Sep 30, 2024 | 38.69% |
| Jun 30, 2024 | 45.30% |
| Mar 31, 2024 | 45.76% |
| Dec 31, 2023 | 38.19% |
| Sep 30, 2023 | 42.73% |
| Jun 30, 2023 | 42.17% |
| Mar 31, 2023 | 41.12% |
| Dec 31, 2022 | 38.43% |
| Sep 30, 2022 | 37.00% |
| Jun 30, 2022 | 36.06% |
| Mar 31, 2022 | 35.69% |
| Dec 31, 2021 | 37.39% |
| Sep 30, 2021 | 32.10% |
API Access
Tradeweb Markets EBT 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=ebt-margin&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-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=ebt-margin&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();