Tradeweb Markets (TW) FCF Margin (2018 - 2026)
Tradeweb Markets (TW) posted FCF Margin of 69.02% for Q2 2026, down 9.68 percentage points from 78.70% a year earlier but up 53.76 percentage points from the prior quarter.
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Analysis
Tradeweb Markets (TW) FCF Margin (2018 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, FCF Margin at Tradeweb Markets was 51.88%, down 0.15 percentage points year-over-year; for FY2025, it was 54.92%, up 5.27 percentage points from FY2024.
- Annual FCF Margin shows a five-year change of +6.55 percentage points (FY2020 to FY2025).
- In prior years, Tradeweb Markets' FCF Margin was 49.64% in FY2024 (-4.73 pp), 54.37% in FY2023 (+3.09 pp), 51.28% in FY2022 (-0.85 pp) and 52.13% in FY2021 (+3.76 pp).
- Quarterly FCF Margin has run from a low of 7.66% in Q1 2024 to a high of 78.70% in Q2 2025 over five years.
- On a year-over-year basis, FCF Margin increased in five of the last eight quarters, with an average year-over-year change of +0.78 percentage points.
- The strongest year-over-year quarter for FCF Margin in the past five years was Q2 2025, with a gain of 9.35 percentage points; the weakest was Q1 2024, with a drop of 11.76 percentage points.
- According to Business Quant data, FCF Margin for the three prior quarters was 15.25% (Q1 2026), 64.57% (Q4 2025) and 64.54% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 105.82 Bn | 93.92 Bn | - | 54.13% |
| 2 | Intercontinental Exchange | 89.41 Bn | 83.14 Bn | - | 51.34% |
| 3 | Robinhood Markets | 86.77 Bn | 67.81 Bn | - | 54.13% |
| 4 | Nasdaq | 52.58 Bn | 50.01 Bn | 1.50 Bn | 25.04% |
| 5 | Interactive Brokers | 36.48 Bn | 13.59 Bn | - | 326.90% |
| 6 | Cboe Global Markets | 32.16 Bn | 23.82 Bn | 731.60 Mn | -37.17% |
| 7 | LPL Financial Holdings | 25.21 Bn | 20.53 Bn | - | 3.90% |
| 8 | Tradeweb Markets | 24.34 Bn | 16.35 Bn | - | 69.02% |
| 9 | Circle Internet | 20.17 Bn | 14.05 Bn | 288.85 Mn | 73.63% |
| 10 | Xp | 15.94 Bn | -5.89 Bn | 105.39 Mn | -59.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 69.02% |
| Mar 31, 2026 | 15.25% |
| Dec 31, 2025 | 64.57% |
| Sep 30, 2025 | 64.54% |
| Jun 30, 2025 | 78.70% |
| Mar 31, 2025 | 11.49% |
| Dec 31, 2024 | 55.42% |
| Sep 30, 2024 | 64.11% |
| Jun 30, 2024 | 69.35% |
| Mar 31, 2024 | 7.66% |
| Dec 31, 2023 | 65.86% |
| Sep 30, 2023 | 64.29% |
| Jun 30, 2023 | 67.23% |
| Mar 31, 2023 | 19.43% |
| Dec 31, 2022 | 69.19% |
| Sep 30, 2022 | 69.09% |
| Jun 30, 2022 | 57.99% |
| Mar 31, 2022 | 11.62% |
| Dec 31, 2021 | 66.63% |
| Sep 30, 2021 | 68.29% |
API Access
Tradeweb Markets FCF 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=fcf-margin&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();