Tradeweb Markets (TW) Rent Expense (2018 - 2026)
Tradeweb Markets' quarterly Rent Expense came in at $8.2 million in Q1 2026, up 61.45% year-on-year from $5.1 million in Q1 2025, and little changed quarter-over-quarter from $8.2 million in Q4 2025.
Tradeweb Markets has reported Rent Expense for 9 years, with the latest figure at $8.2 million in Q1 2026.
- For the quarter ending Q1 2026, Rent Expense rose 61.45% year-over-year to $8.2 million; the trailing twelve-month figure through Mar 2026 stood at $29.1 million (up 41.0% YoY), and the FY2025 full-year result was $26.0 million, up 28.37% from the prior year.
- Rent Expense for Q1 2026 stood at $8.2 million, roughly flat from $8.2 million in the prior quarter.
- The five-year high for Rent Expense was $8.2 million in Q4 2025, with the low at $3.5 million in Q1 2022.
- Average Rent Expense over 5 years is $5.0 million, with a median of $4.7 million recorded in 2024.
- Year-over-year, Rent Expense fell 6.82% in 2022 and jumped 61.45% in 2026.
- Tracing TW's Rent Expense over 5 years: stood at $3.9 million in 2022, then dropped by 5.74% to $3.6 million in 2023, then jumped by 41.24% to $5.2 million in 2024, then surged by 59.46% to $8.2 million in 2025, then decreased by 0.27% to $8.2 million in 2026.
- The last three Rent Expense figures came in at $8.2 million (Q1 2026), $8.2 million (Q4 2025), and $6.6 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Rental Exp. (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.71 Bn | 197.18 Bn | - | 483.00 Mn |
| 2 | Goldman Sachs | 318.59 Bn | -618.96 Bn | - | 254.00 Mn |
| 3 | Schwab Charles | 154.74 Bn | 109.76 Bn | - | 285.00 Mn |
| 4 | Robinhood Markets | 81.79 Bn | 77.15 Bn | 960.00 Mn | - |
| 5 | Interactive Brokers | 39.54 Bn | 50.13 Bn | - | - |
| 6 | Circle Internet | 25.60 Bn | 24.08 Bn | 35.01 Mn | - |
| 7 | LPL Financial Holdings | 22.12 Bn | 21.10 Bn | - | 118.52 Mn |
| 8 | Iren | 21.58 Bn | 19.37 Bn | 144.76 Mn | - |
| 9 | Tradeweb Markets | 21.29 Bn | 20.04 Bn | - | 8.19 Mn |
| 10 | Hut 8 | 14.71 Bn | 14.86 Bn | 45.47 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 8.19 Mn |
| Mar 31, 2026 | 8.19 Mn |
| Dec 31, 2025 | 8.21 Mn |
| Dec 31, 2025 | 8.21 Mn |
| Sep 30, 2025 | 6.64 Mn |
| Sep 30, 2025 | 6.64 Mn |
| Jun 30, 2025 | 6.02 Mn |
| Jun 30, 2025 | 6.02 Mn |
| Mar 31, 2025 | 5.07 Mn |
| Mar 31, 2025 | 5.07 Mn |
| Dec 31, 2024 | 5.15 Mn |
| Dec 31, 2024 | 5.15 Mn |
| Sep 30, 2024 | 5.42 Mn |
| Sep 30, 2024 | 5.42 Mn |
| Jun 30, 2024 | 4.98 Mn |
| Jun 30, 2024 | 4.98 Mn |
| Mar 31, 2024 | 4.67 Mn |
| Mar 31, 2024 | 4.67 Mn |
| Dec 31, 2023 | 3.65 Mn |
| Dec 31, 2023 | 3.65 Mn |
| Sep 30, 2023 | 4.13 Mn |
| Sep 30, 2023 | 4.13 Mn |
| Jun 30, 2023 | 4.03 Mn |
| Jun 30, 2023 | 4.03 Mn |
| Mar 31, 2023 | 4.12 Mn |
| Mar 31, 2023 | 4.12 Mn |
| Dec 31, 2022 | 3.87 Mn |
| Dec 31, 2022 | 3.87 Mn |
| Sep 30, 2022 | 3.70 Mn |
| Sep 30, 2022 | 3.70 Mn |
| Jun 30, 2022 | 3.66 Mn |
| Jun 30, 2022 | 3.66 Mn |
| Mar 31, 2022 | 3.50 Mn |
| Mar 31, 2022 | 3.50 Mn |
| Dec 31, 2021 | 3.42 Mn |
| Dec 31, 2021 | 3.42 Mn |
| Sep 30, 2021 | 3.73 Mn |
| Sep 30, 2021 | 3.73 Mn |
| Jun 30, 2021 | 3.62 Mn |
| Jun 30, 2021 | 3.62 Mn |
| Mar 31, 2021 | 3.75 Mn |
| Mar 31, 2021 | 3.75 Mn |
| Dec 31, 2020 | 3.98 Mn |
| Dec 31, 2020 | 3.98 Mn |
| Sep 30, 2020 | 3.44 Mn |
| Sep 30, 2020 | 3.44 Mn |
| Jun 30, 2020 | 3.51 Mn |
| Jun 30, 2020 | 3.51 Mn |
| Mar 31, 2020 | 3.73 Mn |
| Mar 31, 2020 | 3.73 Mn |
| Dec 31, 2019 | 3.79 Mn |
| Dec 31, 2019 | 3.79 Mn |
| Sep 30, 2019 | 3.64 Mn |
| Sep 30, 2019 | 3.64 Mn |
| Jun 30, 2019 | 3.62 Mn |
| Jun 30, 2019 | 3.62 Mn |
| Mar 31, 2019 | 3.64 Mn |
| Mar 31, 2019 | 3.64 Mn |
| Sep 30, 2018 | 3.49 Mn |
| Sep 30, 2018 | 3.49 Mn |
| Jun 30, 2018 | 3.52 Mn |
| Jun 30, 2018 | 3.52 Mn |
| Mar 31, 2018 | 3.72 Mn |
| Mar 31, 2018 | 3.72 Mn |