Tradeweb Markets (TW) Tax Rate (2018 - 2026)
Tradeweb Markets (TW) posted quarterly Tax Rate of 23.03% for Q1 2026, down 102.0% year-over-year from 1151.39% in Q1 2025, and up 17.39% on a QoQ basis from 19.62% in Q4 2025.
Tradeweb Markets (TW) Tax Rate (2018 - 2026) Analysis & Trends
Tradeweb Markets (TW) has reported Tax Rate for 9 consecutive years, with 23.03% the latest figure, recorded in Q1 2026.
- In Q1 2026, Tax Rate fell 102.0% year-over-year to 23.03%; the TTM figure through Mar 2026 stood at 21.49% (down 311.0% YoY), while the FY2025 annual figure was 21.57%, down 288.0% from the prior year.
- Tax Rate came in at 23.03% for Q1 2026 at Tradeweb Markets, up from 19.62% in the prior quarter.
- The five-year high for Tax Rate was 26.58% in Q4 2023, with the low at 12.08% in Q4 2022.
- Average Tax Rate over 5 years is 22.02%, with a median of 23.21% recorded in 2022.
- Across the five-year window, Tax Rate plunged 2995 bps in 2022 and soared 1450 bps in 2023, its largest moves.
- Year by year, Tax Rate stood at 12.08% in 2022, then surged by 120 bps to 26.58% in 2023, then retreated by 10 bps to 23.93% in 2024, then retreated by 18 bps to 19.62% in 2025, then rose by 17 bps to 23.03% in 2026.
- According to Business Quant data, Tax Rate over the past three periods registered 23.03%, 19.62%, and 21.91% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 19.58% |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 13.20% |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | 22.24% |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | -16.38% |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 15.82% |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | 26.45% |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | 23.03% |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 2.47% |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | 2.46% |
| 10 | Evercore | 13.30 Bn | 11.58 Bn | 1.38 Bn | 2.73% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.03% |
| Mar 31, 2026 | 23.03% |
| Dec 31, 2025 | 19.62% |
| Dec 31, 2025 | 19.62% |
| Sep 30, 2025 | 21.91% |
| Sep 30, 2025 | 21.91% |
| Jun 30, 2025 | 22.70% |
| Jun 30, 2025 | 22.70% |
| Mar 31, 2025 | 24.04% |
| Mar 31, 2025 | 24.04% |
| Dec 31, 2024 | 23.93% |
| Dec 31, 2024 | 23.93% |
| Sep 30, 2024 | 25.02% |
| Sep 30, 2024 | 25.02% |
| Jun 30, 2024 | 25.64% |
| Jun 30, 2024 | 25.64% |
| Mar 31, 2024 | 23.33% |
| Mar 31, 2024 | 23.33% |
| Dec 31, 2023 | 26.58% |
| Dec 31, 2023 | 26.58% |