Growth Metrics

Tradeweb Markets (TW) Research & Development (2018 - 2026)

Tradeweb Markets' quarterly Research & Development came in at $39.5 million in Q1 2026, up 37.67% year-on-year from $28.7 million in Q1 2025, and up 11.34% quarter-over-quarter from $35.5 million in Q4 2025.

Tradeweb Markets has reported Research & Development for 9 years, with the latest figure at $39.5 million in Q1 2026.

  • For the quarter ending Q1 2026, Research & Development rose 37.67% year-over-year to $39.5 million; the trailing twelve-month figure through Mar 2026 stood at $139.1 million (up 31.29% YoY), and the FY2025 full-year result was $128.3 million, up 30.19% from the prior year.
  • Research & Development for Q1 2026 stood at $39.5 million, up from $35.5 million in the prior quarter.
  • The five-year high for Research & Development was $39.5 million in Q1 2026, with the low at $15.8 million in Q1 2022.
  • Average Research & Development over 5 years is $24.1 million, with a median of $21.5 million recorded in 2023.
  • Year-over-year, Research & Development climbed 11.35% in 2023 and jumped 39.37% in 2025.
  • Tracing TW's Research & Development over 5 years: stood at $17.2 million in 2022, then increased by 24.8% to $21.5 million in 2023, then jumped by 33.59% to $28.7 million in 2024, then gained by 23.64% to $35.5 million in 2025, then increased by 11.34% to $39.5 million in 2026.
  • The last three Research & Development figures came in at $39.5 million (Q1 2026), $35.5 million (Q4 2025), and $33.9 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) R&D (Qtr)
1 Morgan Stanley 330.71 Bn 197.18 Bn - 1.15 Bn
2 Goldman Sachs 318.59 Bn -618.96 Bn - 583.00 Mn
3 Schwab Charles 154.74 Bn 109.76 Bn - -
4 Robinhood Markets 81.79 Bn 77.15 Bn 960.00 Mn 241.00 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 - 23.47 Mn
8 Iren 21.58 Bn 19.37 Bn 144.76 Mn -
9 Tradeweb Markets 21.29 Bn 20.04 Bn - 39.55 Mn
10 Hut 8 14.71 Bn 14.86 Bn 45.47 Mn -

Historic Data

Download Data 🔒
DateValue
Mar 31, 2026 39.55 Mn
Dec 31, 2025 35.52 Mn
Sep 30, 2025 33.87 Mn
Jun 30, 2025 30.21 Mn
Mar 31, 2025 28.73 Mn
Dec 31, 2024 28.73 Mn
Sep 30, 2024 24.30 Mn
Jun 30, 2024 24.23 Mn
Mar 31, 2024 21.31 Mn
Dec 31, 2023 21.51 Mn
Sep 30, 2023 19.73 Mn
Jun 30, 2023 18.70 Mn
Mar 31, 2023 17.57 Mn
Dec 31, 2022 17.23 Mn
Sep 30, 2022 16.82 Mn
Jun 30, 2022 16.03 Mn
Mar 31, 2022 15.78 Mn
Dec 31, 2021 13.94 Mn
Sep 30, 2021 14.75 Mn
Jun 30, 2021 13.96 Mn
Mar 31, 2021 13.54 Mn
Dec 31, 2020 13.10 Mn
Sep 30, 2020 12.04 Mn
Jun 30, 2020 12.04 Mn
Mar 31, 2020 10.32 Mn
Dec 31, 2019 10.20 Mn
Sep 30, 2019 9.53 Mn
Jun 30, 2019 9.52 Mn
Mar 31, 2019 10.04 Mn
Sep 30, 2018 9.11 Mn
Jun 30, 2018 9.02 Mn
Mar 31, 2018 8.46 Mn