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| 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% |