Tradeweb Markets Inc

NAS:TWFinancial ServicesNASDAQ:KFTXNASDAQ:NQUSMG

$114.70+1.07%At closeAt close · Tue 20 Oct · ≈ AED 421.24 · Market cap $26.84B · Next earnings Thu 29 Oct · Extended $117.99 +2.87%

USD billions	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM	YoY
Revenue	0.9	1.1	1.2	1.3	1.7	2.1	2.2	+7.5%
Cost of revenue	0.3	0.4	0.4	0.5	0.6	0.7	0.4	−42.8%
Gross profit	0.5	0.7	0.8	0.9	1.1	1.4	1.8	+31.9%
Research & development	0.0	0.0	0.0	0.1	0.0	0.0	—	—
Selling, general & administrative	0.1	0.1	0.2	0.6	0.2	0.3	—	—
Selling & marketing	0.0	0.0	0.0	0.5	0.0	0.0	—	—
Operating expenses	0.3	0.3	0.3	0.4	0.5	0.5	1.0	+94.8%
Operating income	0.3	0.4	0.4	0.5	0.7	0.8	1.0	+14.1%
Interest expense	0.0	0.0	0.0	0.0	0.0	0.0	0.0	+5.8%
Interest income	0.0	0.0	0.0	0.1	0.1	0.1	—	—
Other income / expense	0.0	0.0	0.0	0.0	0.1	0.3	—	—
Pre-tax income	0.3	0.4	0.4	0.5	0.8	1.2	1.3	+10.6%
Income tax	0.1	0.1	0.1	0.1	0.2	0.3	0.3	+11.2%
Net income	0.2	0.2	0.3	0.4	0.5	0.8	0.9	+10.4%
Discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	—	—
Other net income adjustments	0.0	0.0	0.0	0.0	0.0	0.0	—	—
EPS, basic (per share)	0.92	1.13	1.50	1.73	2.36	3.81	4.20	+10.3%
EPS, diluted (per share)	0.88	1.09	1.48	1.71	2.34	3.78	4.18	+10.6%
EBITDA	0.4	0.5	0.6	0.7	1.0	1.4	1.2	−14.0%
Depreciation & amortization	0.2	0.2	0.2	0.2	0.2	0.3	0.2	−1.4%
Weighted average shares (shares)	180,409,462	201,419,081	205,576,637	210,796,802	213,030,000	213,213,371	—	—
Weighted average diluted shares (shares)	188,223,032	207,254,840	208,400,040	212,668,808	214,925,000	214,898,240	—	—
Gross margin	60.8%	62.2%	63.6%	65.6%	65.7%	67.3%	82.6%	+15.3 pts
Operating margin	29.5%	33.3%	34.7%	37.8%	39.3%	41.2%	43.7%	+2.5 pts
Net margin	18.6%	21.1%	26.0%	27.3%	29.1%	39.6%	40.7%	+1.1 pts