Tradeweb Markets (TW) Market Capitalization (2019 - 2026)
Tradeweb Markets' Market Capitalization came in at $23.33 billion for Q2 2026, down 32.6% from $34.62 billion a year earlier and down 16.0% from the prior quarter.
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Analysis
Tradeweb Markets (TW) Market Capitalization (2019 - 2026) Analysis & Trends
For FY2025, Tradeweb Markets' Market Capitalization was $25.32 billion, down 18.0% from FY2024.
- Market Capitalization carries a five-year compound annual growth rate of 12.1% (FY2020 to FY2025).
- Going back by year, Market Capitalization was $30.9 billion in FY2024 (+44.6%), $21.37 billion in FY2023 (+40.6%), $15.2 billion in FY2022 (-24.7%) and $20.17 billion in FY2021 (+41.0%).
- The Q2 2026 figure represents the lowest quarterly Market Capitalization since Q4 2023.
- Year-over-year, Market Capitalization has declined for four consecutive quarters, with growth averaging 12.4% over the last eight quarters.
- The fastest year-over-year change in Market Capitalization over five years came in Q3 2023 (growth of 62.2%), and the weakest in Q2 2026 (a decline of 32.6%).
- Business Quant data shows TW's Market Capitalization at $27.77 billion (Q1 2026), $25.32 billion (Q4 2025) and $26.24 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Robinhood Markets | 104.70 Bn | 85.79 Bn | - |
| 2 | Bank of New York Mellon | 100.72 Bn | 40.09 Bn | - |
| 3 | Cme | 94.58 Bn | 94.58 Bn | - |
| 4 | Intercontinental Exchange | 85.83 Bn | 79.63 Bn | - |
| 5 | Nasdaq | 52.05 Bn | 49.49 Bn | 1.50 Bn |
| 6 | State Street | 49.39 Bn | 49.39 Bn | - |
| 7 | Interactive Brokers | 39.24 Bn | 32.69 Bn | - |
| 8 | Northern Trust | 31.94 Bn | 31.94 Bn | - |
| 9 | Cboe Global Markets | 26.47 Bn | 18.13 Bn | 731.60 Mn |
| 10 | Tradeweb Markets | 23.59 Bn | 16.31 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.33 Bn |
| Mar 31, 2026 | 27.77 Bn |
| Dec 31, 2025 | 25.32 Bn |
| Sep 30, 2025 | 26.24 Bn |
| Jun 30, 2025 | 34.62 Bn |
| Mar 31, 2025 | 35.10 Bn |
| Dec 31, 2024 | 30.90 Bn |
| Sep 30, 2024 | 29.22 Bn |
| Jun 30, 2024 | 25.05 Bn |
| Mar 31, 2024 | 24.60 Bn |
| Dec 31, 2023 | 21.37 Bn |
| Sep 30, 2023 | 18.82 Bn |
| Jun 30, 2023 | 16.07 Bn |
| Mar 31, 2023 | 18.55 Bn |
| Dec 31, 2022 | 15.20 Bn |
| Sep 30, 2022 | 11.61 Bn |
| Jun 30, 2022 | 13.96 Bn |
| Mar 31, 2022 | 17.93 Bn |
| Dec 31, 2021 | 20.17 Bn |
| Sep 30, 2021 | 16.34 Bn |
API Access
Tradeweb Markets Market Capitalization 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=market-capitalization&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "market-capitalization", "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=market-capitalization&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();