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Tradeweb Markets (TW) Operating Expenses (2018 - 2025)

Tradeweb Markets (TW) has 8 years of Operating Expenses data on record, last reported at $300.2 million in Q4 2025.

  • For Q4 2025, Operating Expenses rose 9.23% year-over-year to $300.2 million; the TTM value through Dec 2025 reached $1.2 billion, up 16.14%, while the annual FY2025 figure was $1.2 billion, 16.14% up from the prior year.
  • Operating Expenses reached $300.2 million in Q4 2025 per TW's latest filing, up from $298.2 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $313.1 million in Q2 2025 and bottomed at $175.1 million in Q1 2021.
  • Average Operating Expenses over 5 years is $231.1 million, with a median of $206.7 million recorded in 2023.
  • Peak YoY movement for Operating Expenses: increased 1.97% in 2023, then surged 42.23% in 2024.
  • A 5-year view of Operating Expenses shows it stood at $185.7 million in 2021, then dropped by 0.75% to $184.3 million in 2022, then increased by 23.91% to $228.4 million in 2023, then rose by 20.33% to $274.8 million in 2024, then grew by 9.23% to $300.2 million in 2025.
  • Per Business Quant database, its latest 3 readings for Operating Expenses were $300.2 million in Q4 2025, $298.2 million in Q3 2025, and $313.1 million in Q2 2025.