Tradeweb Markets (TW) Net Margin (2018 - 2026)
Tradeweb Markets' quarterly Net Margin came in at 37.74% in Q1 2026, up 472.0% year-on-year from 6.6% in Q1 2025, and down 46.42% quarter-over-quarter from 70.44% in Q4 2025.
Tradeweb Markets has reported Net Margin for 9 years, with the latest figure at 37.74% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin rose 472.0% year-over-year to 37.74%; the trailing twelve-month figure through Mar 2026 stood at 45.65% (up 1309.0% YoY), and the FY2025 full-year result was 44.9%, up 1187.0% from the prior year.
- Net Margin for Q1 2026 stood at 37.74%, 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.
- Year-over-year, Net Margin surged 25169 bps in 2022 and sank 575 bps in 2023.
- Tracing TW's Net Margin over 5 years: stood at 33.78% in 2022, then retreated by 17 bps to 28.04% in 2023, then gained by 23 bps to 34.52% in 2024, then surged by 104 bps to 70.44% in 2025, then plunged by 46 bps to 37.74% in 2026.
- The last three Net Margin figures came in at 37.74% (Q1 2026), 70.44% (Q4 2025), and 41.4% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.71 Bn | 197.18 Bn | - | 26.29% |
| 2 | Goldman Sachs | 318.59 Bn | -618.96 Bn | - | 31.36% |
| 3 | Schwab Charles | 154.74 Bn | 109.76 Bn | - | 36.98% |
| 4 | Robinhood Markets | 81.79 Bn | 77.15 Bn | 960.00 Mn | 32.80% |
| 5 | Interactive Brokers | 39.54 Bn | 50.13 Bn | - | 16.00% |
| 6 | Circle Internet | 25.60 Bn | 24.08 Bn | 35.01 Mn | 132.82% |
| 7 | LPL Financial Holdings | 22.12 Bn | 21.10 Bn | - | 7.22% |
| 8 | Iren | 21.58 Bn | 19.37 Bn | 144.76 Mn | -171.16% |
| 9 | Tradeweb Markets | 21.29 Bn | 20.04 Bn | - | 37.74% |
| 10 | Hut 8 | 14.71 Bn | 14.86 Bn | 45.47 Mn | -356.44% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Mar 31, 2021 | 29.83% |
| Dec 31, 2020 | -278.56% |
| Sep 30, 2020 | 22.10% |
| Jun 30, 2020 | 19.99% |
| Mar 31, 2020 | 26.63% |
| Dec 31, 2019 | 29.03% |
| Sep 30, 2019 | 24.17% |
| Jun 30, 2019 | 13.03% |
| Mar 31, 2019 | 22.67% |
| Sep 30, 2018 | 49.64% |
| Jun 30, 2018 | 1,438.50% |
| Mar 31, 2018 | 162.49% |