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

Tradeweb Markets' Operating Margin history runs 9 years deep, the most recent figure standing at 46.5% for Q1 2026.

• In Q1 2026, Operating Margin rose 645.0% year-over-year to 46.5%; the TTM figure through Mar 2026 stood at 42.51% (up 340.0% YoY), while the FY2025 annual figure was 40.7%, up 142.0% from the prior year.
• Operating Margin was 46.5% for Q1 2026 at Tradeweb Markets, up from 42.41% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 46.5% in Q1 2026 to a low of 31.24% in Q4 2022.
• Historically, Operating Margin has averaged 38.61% across 5 years, with a median of 38.28% in 2023.
• The sharpest annual moves came in 2023 and 2024: Operating Margin soared 704 bps in 2023, then slumped 250 bps in 2024.
• A 5-year view of Operating Margin shows it stood at 31.24% in 2022, then advanced by 23 bps to 38.28% in 2023, then gained by 6 bps to 40.69% in 2024, then advanced by 4 bps to 42.41% in 2025, then climbed 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.