Tradeweb Markets (TW) FCF Margin (2018 - 2026)
Tradeweb Markets' quarterly FCF Margin came in at 16.77% in Q1 2026, up 754.0% year-on-year from 1.96% in Q1 2025, and down 74.34% quarter-over-quarter from 65.34% in Q4 2025.
Tradeweb Markets has reported FCF Margin for 9 years, with the latest figure at 16.77% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin rose 754.0% year-over-year to 16.77%; the trailing twelve-month figure through Mar 2026 stood at 53.77% (up 672.0% YoY), and the FY2025 full-year result was 53.84%, up 461.0% from the prior year.
- FCF Margin for Q1 2026 stood at 16.77%, down from 65.34% in the prior quarter.
- The five-year high for FCF Margin was 82.16% in Q2 2025, with the low at 9.13% in Q1 2024.
- Average FCF Margin over 5 years is 50.75%, with a median of 62.98% recorded in 2022.
- Year-over-year, FCF Margin plunged 1974 bps in 2024 and soared 1470 bps in 2025.
- Tracing TW's FCF Margin over 5 years: stood at 75.87% in 2022, then dropped by 7 bps to 70.38% in 2023, then decreased by 28 bps to 50.64% in 2024, then increased by 29 bps to 65.34% in 2025, then tumbled by 74 bps to 16.77% in 2026.
- The last three FCF Margin figures came in at 16.77% (Q1 2026), 65.34% (Q4 2025), and 58.22% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.71 Bn | 197.18 Bn | - | -38.15% |
| 2 | Goldman Sachs | 318.59 Bn | -618.96 Bn | - | -188.27% |
| 3 | Schwab Charles | 154.74 Bn | 109.76 Bn | - | 111.11% |
| 4 | Robinhood Markets | 81.79 Bn | 77.15 Bn | 960.00 Mn | 190.16% |
| 5 | Interactive Brokers | 39.54 Bn | 50.13 Bn | - | 214.80% |
| 6 | Circle Internet | 25.60 Bn | 24.08 Bn | 35.01 Mn | 28.16% |
| 7 | LPL Financial Holdings | 22.12 Bn | 21.10 Bn | - | 2.52% |
| 8 | Iren | 21.58 Bn | 19.37 Bn | 144.76 Mn | -791.16% |
| 9 | Tradeweb Markets | 21.29 Bn | 20.04 Bn | - | 16.77% |
| 10 | Hut 8 | 14.71 Bn | 14.86 Bn | 45.47 Mn | -89.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 16.77% |
| Dec 31, 2025 | 65.34% |
| Sep 30, 2025 | 58.22% |
| Jun 30, 2025 | 82.16% |
| Mar 31, 2025 | 9.23% |
| Dec 31, 2024 | 50.64% |
| Sep 30, 2024 | 67.50% |
| Jun 30, 2024 | 67.87% |
| Mar 31, 2024 | 9.13% |
| Dec 31, 2023 | 70.38% |
| Sep 30, 2023 | 61.25% |
| Jun 30, 2023 | 71.38% |
| Mar 31, 2023 | 18.53% |
| Dec 31, 2022 | 75.87% |
| Sep 30, 2022 | 63.93% |
| Jun 30, 2022 | 62.98% |
| Mar 31, 2022 | 11.62% |
| Dec 31, 2021 | 78.54% |
| Sep 30, 2021 | 62.22% |
| Jun 30, 2021 | 56.80% |
| Mar 31, 2021 | 17.30% |
| Dec 31, 2020 | 57.79% |
| Sep 30, 2020 | 69.19% |
| Jun 30, 2020 | 84.19% |
| Mar 31, 2020 | -12.28% |
| Dec 31, 2019 | 75.98% |
| Jun 30, 2019 | 53.04% |
| Mar 31, 2019 | -14.91% |
| Sep 30, 2018 | 77.90% |
| Mar 31, 2018 | -55.48% |