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| Date | Value |
|---|---|
| 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 |