Tradeweb Markets (TW) Enterprise Value (2019 - 2026)
Tradeweb Markets' Enterprise Value was $21.98 billion in Q2 2026, down 34.6% from $33.61 billion a year earlier and down 17.1% from the prior quarter.
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Analysis
Tradeweb Markets (TW) Enterprise Value (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Tradeweb Markets' Enterprise Value was $16.05 billion through Jun 30, 2026, down 46.1% year-over-year; for FY2025, it was $23.92 billion, down 20.7% from FY2024.
- Enterprise Value shows a five-year compound annual growth rate of 11.0% (FY2020 to FY2025).
- In earlier years, Enterprise Value was $30.15 billion in FY2024 (+49.1%), $20.22 billion in FY2023 (+39.1%), $14.53 billion in FY2022 (-26.8%) and $19.86 billion in FY2021 (+39.6%).
- The Q2 2026 figure marks the lowest quarterly Enterprise Value since Q4 2023.
- Compared with a year earlier, Enterprise Value has declined for four straight quarters, with growth averaging 13.1% over the last eight quarters.
- The best year-over-year quarter for Enterprise Value over five years was Q3 2023 (growth of 61.3%); the worst was Q2 2026 (a decline of 34.6%).
- Per Business Quant data, TW's Enterprise Value in the three quarters before Q2 2026 was $26.52 billion (Q1 2026), $23.92 billion (Q4 2025) and $24.99 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Robinhood Markets | 104.70 Bn | 85.79 Bn | - |
| 2 | Bank of New York Mellon | 100.72 Bn | 40.09 Bn | - |
| 3 | Cme | 94.58 Bn | 94.58 Bn | - |
| 4 | Intercontinental Exchange | 85.83 Bn | 79.63 Bn | - |
| 5 | Nasdaq | 52.05 Bn | 49.49 Bn | 1.50 Bn |
| 6 | State Street | 49.39 Bn | 49.39 Bn | - |
| 7 | Interactive Brokers | 39.24 Bn | 32.69 Bn | - |
| 8 | Northern Trust | 31.94 Bn | 31.94 Bn | - |
| 9 | Cboe Global Markets | 26.47 Bn | 18.13 Bn | 731.60 Mn |
| 10 | Tradeweb Markets | 23.59 Bn | 16.31 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.98 Bn |
| Mar 31, 2026 | 26.52 Bn |
| Dec 31, 2025 | 23.92 Bn |
| Sep 30, 2025 | 24.99 Bn |
| Jun 30, 2025 | 33.61 Bn |
| Mar 31, 2025 | 34.40 Bn |
| Dec 31, 2024 | 30.15 Bn |
| Sep 30, 2024 | 28.63 Bn |
| Jun 30, 2024 | 23.91 Bn |
| Mar 31, 2024 | 23.62 Bn |
| Dec 31, 2023 | 20.22 Bn |
| Sep 30, 2023 | 17.88 Bn |
| Jun 30, 2023 | 15.21 Bn |
| Mar 31, 2023 | 17.91 Bn |
| Dec 31, 2022 | 14.53 Bn |
| Sep 30, 2022 | 11.08 Bn |
| Jun 30, 2022 | 13.65 Bn |
| Mar 31, 2022 | 17.75 Bn |
| Dec 31, 2021 | 19.86 Bn |
| Sep 30, 2021 | 16.17 Bn |
API Access
Tradeweb Markets Enterprise Value 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=enterprise-value&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "enterprise-value", "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=enterprise-value&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();