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
Download Data| Date | Value |
|---|---|
| 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 |