Tradeweb Markets (TW) EV to FCF (2019 - 2026)
Tradeweb Markets' (TW) EV to FCF came in at 19.20 for Q2 2026, down 42.5% from 33.38 a year earlier and down 15.8% from the prior quarter.
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Analysis
Tradeweb Markets (TW) EV to FCF (2019 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EV to FCF at Tradeweb Markets was 14.02, down 52.6% year-over-year; for FY2025, it was 21.22, down 39.7% from FY2024.
- In prior years, Tradeweb Markets' EV to FCF was 35.19 in FY2024 (+26.7%), 27.79 in FY2023 (+16.6%), 23.84 in FY2022 (-32.7%) and 35.39 in FY2021 (+7.4%).
- The Q2 2026 figure stands as the lowest quarterly EV to FCF since Q3 2022.
- On a year-over-year basis, EV to FCF has declined in each of the last four quarters, with an average decline of 9.3% over the last eight quarters.
- The strongest year-over-year quarter for EV to FCF in the past five years was Q3 2023, with growth of 38.9%; the weakest was Q2 2026, with a decline of 42.5%.
- According to Business Quant data, EV to FCF for the three prior quarters was 22.81 (Q1 2026), 21.22 (Q4 2025) and 23.86 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 110.43 Bn | 98.52 Bn | - |
| 2 | Intercontinental Exchange | 92.22 Bn | 85.96 Bn | - |
| 3 | Robinhood Markets | 86.78 Bn | 67.81 Bn | - |
| 4 | Nasdaq | 58.09 Bn | 55.52 Bn | 1.50 Bn |
| 5 | Interactive Brokers | 36.85 Bn | 13.96 Bn | - |
| 6 | Cboe Global Markets | 34.46 Bn | 26.11 Bn | 731.60 Mn |
| 7 | Tradeweb Markets | 25.89 Bn | 17.90 Bn | - |
| 8 | LPL Financial Holdings | 25.45 Bn | 20.77 Bn | - |
| 9 | Circle Internet | 21.46 Bn | 15.33 Bn | 288.85 Mn |
| 10 | Xp | 15.46 Bn | -6.37 Bn | 105.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 19.20 |
| Mar 31, 2026 | 22.81 |
| Dec 31, 2025 | 21.22 |
| Sep 30, 2025 | 23.86 |
| Jun 30, 2025 | 33.38 |
| Mar 31, 2025 | 38.92 |
| Dec 31, 2024 | 35.19 |
| Sep 30, 2024 | 33.93 |
| Jun 30, 2024 | 31.17 |
| Mar 31, 2024 | 34.00 |
| Dec 31, 2023 | 27.79 |
| Sep 30, 2023 | 26.04 |
| Jun 30, 2023 | 22.57 |
| Mar 31, 2023 | 28.10 |
| Dec 31, 2022 | 23.84 |
| Sep 30, 2022 | 18.74 |
| Jun 30, 2022 | 23.78 |
| Mar 31, 2022 | 32.50 |
| Dec 31, 2021 | 35.39 |
| Sep 30, 2021 | 31.63 |
API Access
Tradeweb Markets EV to FCF 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-fcf&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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-fcf&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();