Growth Metrics

Tradeweb Markets (TW) Free Cash Flow (2018 - 2026)

Tradeweb Markets' quarterly Free Cash Flow came in at $103.6 million in Q1 2026, up 120.21% year-on-year from $47.0 million in Q1 2025, and down 69.59% quarter-over-quarter from $340.6 million in Q4 2025.

Tradeweb Markets has reported Free Cash Flow for 9 years, with the latest figure at $103.6 million in Q1 2026.

  • For the quarter ending Q1 2026, Free Cash Flow rose 120.21% year-over-year to $103.6 million; the trailing twelve-month figure through Mar 2026 stood at $1.2 billion (up 35.14% YoY), and the FY2025 full-year result was $1.1 billion, up 30.04% from the prior year.
  • Free Cash Flow for Q1 2026 stood at $103.6 million, down from $340.6 million in the prior quarter.
  • The five-year high for Free Cash Flow was $421.4 million in Q2 2025, with the low at $36.2 million in Q1 2022.
  • Average Free Cash Flow over 5 years is $201.9 million, with a median of $221.7 million recorded in 2023.
  • Year-over-year, Free Cash Flow slumped 38.84% in 2024 and surged 120.21% in 2026.
  • Tracing TW's Free Cash Flow over 5 years: stood at $222.3 million in 2022, then rose by 17.12% to $260.4 million in 2023, then fell by 9.9% to $234.6 million in 2024, then surged by 45.15% to $340.6 million in 2025, then slumped by 69.59% to $103.6 million in 2026.
  • The last three Free Cash Flow figures came in at $103.6 million (Q1 2026), $340.6 million (Q4 2025), and $296.1 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 Morgan Stanley 330.71 Bn 197.18 Bn - -7.85 Bn
2 Goldman Sachs 318.59 Bn -618.96 Bn - -32.43 Bn
3 Schwab Charles 154.74 Bn 109.76 Bn - 7.20 Bn
4 Robinhood Markets 81.79 Bn 77.15 Bn 960.00 Mn 2.03 Bn
5 Interactive Brokers 39.54 Bn 50.13 Bn - 3.59 Bn
6 Circle Internet 25.60 Bn 24.08 Bn 35.01 Mn 11.72 Mn
7 LPL Financial Holdings 22.12 Bn 21.10 Bn - 124.64 Mn
8 Iren 21.58 Bn 19.37 Bn 144.76 Mn -1.15 Bn
9 Tradeweb Markets 21.29 Bn 20.04 Bn - 103.58 Mn
10 Hut 8 14.71 Bn 14.86 Bn 45.47 Mn -63.84 Mn

Historic Data

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DateValue
Mar 31, 2026 103.58 Mn
Mar 31, 2026 103.58 Mn
Dec 31, 2025 340.55 Mn
Dec 31, 2025 340.55 Mn
Sep 30, 2025 296.09 Mn
Sep 30, 2025 296.09 Mn
Jun 30, 2025 421.43 Mn
Jun 30, 2025 421.43 Mn
Mar 31, 2025 47.04 Mn
Mar 31, 2025 47.04 Mn
Dec 31, 2024 234.63 Mn
Dec 31, 2024 234.63 Mn
Sep 30, 2024 303.04 Mn
Sep 30, 2024 303.04 Mn
Jun 30, 2024 274.86 Mn
Jun 30, 2024 274.86 Mn
Mar 31, 2024 37.31 Mn
Mar 31, 2024 37.31 Mn
Dec 31, 2023 260.39 Mn
Dec 31, 2023 260.39 Mn
Sep 30, 2023 201.13 Mn
Sep 30, 2023 201.13 Mn
Jun 30, 2023 221.73 Mn
Jun 30, 2023 221.73 Mn
Mar 31, 2023 61.01 Mn
Mar 31, 2023 61.01 Mn
Dec 31, 2022 222.33 Mn
Dec 31, 2022 222.33 Mn
Sep 30, 2022 183.55 Mn
Sep 30, 2022 183.55 Mn
Jun 30, 2022 187.13 Mn
Jun 30, 2022 187.13 Mn
Mar 31, 2022 36.18 Mn
Mar 31, 2022 36.18 Mn
Dec 31, 2021 217.46 Mn
Dec 31, 2021 217.46 Mn
Sep 30, 2021 165.09 Mn
Sep 30, 2021 165.09 Mn
Jun 30, 2021 148.16 Mn
Jun 30, 2021 148.16 Mn
Mar 31, 2021 47.31 Mn
Mar 31, 2021 47.31 Mn
Dec 31, 2020 134.70 Mn
Dec 31, 2020 134.70 Mn
Sep 30, 2020 147.29 Mn
Sep 30, 2020 147.29 Mn
Jun 30, 2020 178.58 Mn
Jun 30, 2020 178.58 Mn
Mar 31, 2020 -28.82 Mn
Mar 31, 2020 -28.82 Mn
Dec 31, 2019 149.92 Mn
Dec 31, 2019 149.92 Mn
Jun 30, 2019 101.03 Mn
Jun 30, 2019 101.03 Mn
Mar 31, 2019 -27.85 Mn
Mar 31, 2019 -27.85 Mn
Sep 30, 2018 72.13 Mn
Sep 30, 2018 72.13 Mn
Mar 31, 2018 -15.47 Mn
Mar 31, 2018 -15.47 Mn