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

Tradeweb Markets has reported Operating Margin for 9 years, with the latest figure at 46.5% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin rose 645.0% year-over-year to 46.5%; the trailing twelve-month figure through Mar 2026 stood at 42.51% (up 340.0% YoY), and the FY2025 full-year result was 40.7%, up 142.0% from the prior year.
• Operating Margin for Q1 2026 stood at 46.5%, up from 42.41% in the prior quarter.
• The five-year high for Operating Margin was 46.5% in Q1 2026, with the low at 31.24% in Q4 2022.
• Average Operating Margin over 5 years is 38.61%, with a median of 38.28% recorded in 2023.
• Year-over-year, Operating Margin surged 704 bps in 2023 and slumped 250 bps in 2024.
• Tracing TW's Operating Margin over 5 years: stood at 31.24% in 2022, then climbed by 23 bps to 38.28% in 2023, then advanced by 6 bps to 40.69% in 2024, then climbed by 4 bps to 42.41% in 2025, then grew by 10 bps to 46.5% in 2026.
• The last three Operating Margin figures came in at 46.5% (Q1 2026), 42.41% (Q4 2025), and 41.36% (Q3 2025), per Business Quant data.

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