Tradeweb Markets Inc. (TW)

From the record

Tradeweb Markets Inc.'s filings since 2018 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

Tradeweb Markets Inc.'s 8 filed years say what it did: revenue went from $563 million in fiscal 2017 to $2.1 billion in fiscal 2025, up 17.6% a year; it rose in 7 of 7 years; it never fell from a peak; net income was positive in 8 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Tradeweb Markets Inc.'s diluted share count grew about 1.0% a year, and dividends and buybacks returned about 7% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 25 sales (22 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-05 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Tradeweb Markets Inc. earned about 13 cents of profit for every dollar of shareholders' money. Leverage: it owed about 12 cents per dollar of assets, and net share issuance: its share count was unchanged over the year (the filed statements).

From the record

Tradeweb Markets Inc.'s standing among 13 graded names in its industry family: revenue of $2.1 billion in fiscal 2025 ranks in the top 50% by size; a net margin of 44.9% ranks in the top 12%; revenue growth of 20% a year over the last 3 filed years ranks in the top 42% (its annual reports).

From the record

Tradeweb Markets Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Hult, William (Chief Executive Officer, as filed), filing under that title since 2023-01-04, 3.9 years (top 50% of its family); the 14 officers and directors filing in the last fifteen months have been on the record a median of 5.9 years (bottom 7%); 6 officer or director changes were reported on Form 8-K since 2023-11-13, against the 14 people in charge now (bottom 13%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Tradeweb Markets Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $2.1 billion against no long-term debt tagged leaves 25.5% of its assets as net cash, top 35% of its family; cash from operations less capital spending is 54.9% of revenue (top 19%) (its annual report).

From the record

Tradeweb Markets Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 20% a year over the last three filed years against 17.6% over all 8, speeding up (top 19% of its family); the newest year grew 18.9% (bottom 42%); capital spending grew 20.4% a year (bottom 42%) (its annual reports). Tradeweb Markets Inc. reported 4 product lines in fiscal 2025: Transaction Fee Revenue at $1.7 billion (83%), Subscription Fee Revenue at $234 million (11%), Market Data Revenue at $93 million (5%), and 1 more; 4 of 4 grew against the year before (its annual report).

From the record

Tradeweb Markets Inc.'s newest year against its own record: revenue of $2.1 billion in fiscal 2025 came in 1.3% below the $2.1 billion its prior three years' pace pointed to (bottom 35% of its family); net income of $922 million against a prior three-year average of $450 million (top 12%); a net margin of 44.9% against 31.5% before (top 19%) (its annual reports).