Tradeweb Markets (TW) Net Margin (2018 - 2026)

Tradeweb Markets (TW) posted quarterly Net Margin of 37.74% for Q1 2026, up 472.0% year-over-year from 6.6% in Q1 2025, and down 46.42% on a QoQ basis from 70.44% in Q4 2025.

Tradeweb Markets (TW) Net Margin (2018 - 2026) Analysis & Trends

Tradeweb Markets (TW) has reported Net Margin for 9 consecutive years, with 37.74% the latest figure, recorded in Q1 2026.

  • In Q1 2026, Net Margin rose 472.0% year-over-year to 37.74%; the TTM figure through Mar 2026 stood at 45.65% (up 1309.0% YoY), while the FY2025 annual figure was 44.9%, up 1187.0% from the prior year.
  • Net Margin came in at 37.74% for Q1 2026 at Tradeweb Markets, down from 70.44% in the prior quarter.
  • The five-year high for Net Margin was 70.44% in Q4 2025, with the low at 27.46% in Q2 2022.
  • Average Net Margin over 5 years is 35.06%, with a median of 33.69% recorded in 2024.
  • Across the five-year window, Net Margin soared 25169 bps in 2022 and slumped 575 bps in 2023, its largest moves.
  • Year by year, Net Margin stood at 33.78% in 2022, then slipped by 17 bps to 28.04% in 2023, then climbed by 23 bps to 34.52% in 2024, then jumped by 104 bps to 70.44% in 2025, then slumped by 46 bps to 37.74% in 2026.
  • According to Business Quant data, Net Margin over the past three periods registered 37.74%, 70.44%, and 41.4% for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Margin (Qtr)
1 Morgan Stanley 330.70 Bn 197.17 Bn - 26.29%
2 Goldman Sachs 309.79 Bn -627.76 Bn - 31.36%
3 Schwab Charles 167.21 Bn 122.24 Bn - 36.98%
4 Futu Holdings 111.36 Bn 109.19 Bn 733.58 Mn 122.40%
5 Robinhood Markets 97.69 Bn 93.05 Bn 960.00 Mn 32.80%
6 LPL Financial Holdings 23.49 Bn 22.47 Bn - 7.22%
7 Tradeweb Markets 21.59 Bn 20.34 Bn - 37.74%
8 Circle Internet 15.14 Bn 13.62 Bn 35.01 Mn 132.82%
9 Iren 14.46 Bn 12.24 Bn 144.76 Mn -171.16%
10 Evercore 13.30 Bn 11.58 Bn 1.38 Bn 1.16%

Historic Data

Download Data
DateValue
Mar 31, 2026 37.74%
Dec 31, 2025 70.44%
Sep 30, 2025 41.40%
Jun 30, 2025 34.22%
Mar 31, 2025 33.02%
Dec 31, 2024 34.52%
Sep 30, 2024 29.01%
Jun 30, 2024 33.69%
Mar 31, 2024 35.08%
Dec 31, 2023 28.04%
Sep 30, 2023 34.00%
Jun 30, 2023 32.82%
Mar 31, 2023 31.04%
Dec 31, 2022 33.78%
Sep 30, 2022 28.41%
Jun 30, 2022 27.46%
Mar 31, 2022 31.28%
Dec 31, 2021 -217.91%
Sep 30, 2021 24.61%
Jun 30, 2021 25.39%