Tradeweb Markets Inc.
We are a leader in building and operating electronic marketplaces for our global network of clients across the financial ecosystem. Our network is comprised of more than 3,000 clients across the institutional, wholesale, retail and corporates client sectors, including many of the largest global asset managers, hedge funds, insurance companies, central banks, banks and dealers, propriet…
$121.96
+$1.95 (+1.62%)
EOD Oct 22, 2026
40.70% operating margin is above average. ROIC at 9.32%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 18.9%, still solid.
At 29x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
29.1x earnings, 22.7x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.21B
▲ +18.9% YoY
Net Income (TTM)
$856M
▲ +62.1% YoY
Op. Margin
43.68%
▲ +1.4pp YoY
ROIC
10.25%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.14B
▲ +31.5% YoY
Op. Cash Flow (TTM)
$1.20B
▲ +30.1% YoY
Net Debt
-$1.91B
Net Cash Position
Cash & Equiv.
$2.06B
5Y CAGR: +18.1%
5Y CAGR: +21.2%
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SourceComputed from the 10-Q filed 30 Jul 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 31 Jul 2026. How this is calculated.
Price from market data, last close as of 22 Oct 2026. Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.
Is Tradeweb Markets (TW) overvalued?
At a P/E of 29.1 and a price-to-free-cash-flow of 22.7, Tradeweb Markets (TW) trades below a two-stage DCF intrinsic value of about $215.59 per share, so at $121.96 the stock looks undervalued (76.8% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Tradeweb Markets scores 82/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.4%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Tradeweb Markets's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $215.59 per share for TW, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $161.69. At today's $121.96, that puts the stock about 76.8% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Tradeweb Markets a high-quality business?+
Tradeweb Markets scores 82 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 43.7% operating margin and a 10.3% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Tradeweb Markets (TW) pay a dividend, and how much?+
Yes, Tradeweb Markets pays a regular dividend of about $0.52 per share per year (typically in quarterly installments), a yield of roughly 0.4% at the current price. That is a payout ratio of about 12.9% of earnings, so the dividend is amply covered by earnings. Tradeweb Markets has grown the dividend at roughly 12.2% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For TW's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Tradeweb Markets a good stock to buy right now?+
That depends on valuation and quality together, not either alone. TW currently trades below its estimated intrinsic value and scores 82/100 on quality (high-quality). It also yields about 0.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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