Tradeweb Markets (TW) EV to EBITDA (2019 - 2026)
Tradeweb Markets' (TW) EV to EBITDA stood at 18.16 in Q2 2026, down 46.1% from 33.67 a year earlier and down 20.1% from the prior quarter.
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Analysis
Tradeweb Markets (TW) EV to EBITDA (2019 - 2026) Analysis & Trends
On a TTM basis, Tradeweb Markets' EV to EBITDA came in at 13.26 as of Jun 30, 2026, down 55.6% year-over-year; for FY2025, it was 22.04, down 34.4% from FY2024.
- Across earlier years, EV to EBITDA came in at 33.58 in FY2024 (+14.7%), 29.27 in FY2023 (+19.2%), 24.57 in FY2022 (-34.4%) and 37.46 in FY2021 (+9.9%).
- The Q2 2026 figure is the lowest quarterly EV to EBITDA in data going back to Q2 2019.
- On a year-over-year basis, EV to EBITDA has declined for four consecutive quarters, with an average decline of 10.9% over the last eight quarters.
- Peak year-over-year performance for EV to EBITDA in the last five years was growth of 49.2% in Q3 2023, against a decline of 46.1% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.73 (Q1 2026), 22.04 (Q4 2025) and 23.67 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn |
| 10 | Xp | 16.54 Bn | -5.29 Bn | 105.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.16 |
| Mar 31, 2026 | 22.73 |
| Dec 31, 2025 | 22.04 |
| Sep 30, 2025 | 23.67 |
| Jun 30, 2025 | 33.67 |
| Mar 31, 2025 | 36.30 |
| Dec 31, 2024 | 33.58 |
| Sep 30, 2024 | 34.25 |
| Jun 30, 2024 | 30.26 |
| Mar 31, 2024 | 31.94 |
| Dec 31, 2023 | 29.27 |
| Sep 30, 2023 | 28.02 |
| Jun 30, 2023 | 24.76 |
| Mar 31, 2023 | 29.68 |
| Dec 31, 2022 | 24.57 |
| Sep 30, 2022 | 18.79 |
| Jun 30, 2022 | 23.84 |
| Mar 31, 2022 | 32.45 |
| Dec 31, 2021 | 37.46 |
| Sep 30, 2021 | 31.92 |
API Access
Tradeweb Markets EV to EBITDA 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=ev-to-ebitda&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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=ev-to-ebitda&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();