Tradeweb Markets Inc. (TW) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 2.48B | 2.34B | 2.18B | 2.51B | 1.82B | 1.69B | 1.79B | 2.45B | 2.53B | 2.29B | 1.69B | 1.71B | 1.45B | 1.44B | 1.29B | 1.14B | 1.12B | 1.12B | 1.01B | 883.36M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | 53.91 | 54.79 | 105.89 | 107.79 | 61.57 | 83.05 | 124.15 | 172.34 | 157.88 | 89.71 | 64.9 | 69.83 | 46.44 | 47.93 | 49.37 | 63.26 | 55.76 | 49.38 | 60.1 | 60.91 |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1M | -1M | -156.58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26.43M | 23.94M | 34.19M | 23.91M | 25.21M | 25.99M | 35.47M | 20.52M | 24.4M | 21.8M |
| Total Non-Current Assets | 5.81B | 5.28B | 5.09B | 5.55B | 5.55B | 5.58B | 5.55B | 4.84B | 4.87B | 4.77B | 4.81B | 4.78B | 4.79B | 4.82B | 4.85B | 4.85B | 4.88B | 4.87B | 4.92B | 4.98B |
| Property, Plant & Equipment | 203.84M | 201.26M | 121.82M | 70.32M | 73.65M | 79.52M | 58.81M | 58.12M | 55.52M | 58.77M | 55.56M | 56.25M | 59.49M | 62.35M | 59.04M | 62.22M | 63.96M | 51.56M | 51M | 57.67M |
| Fixed Asset Turnover | 3.05x | 3.23x | 5.29x | 7.13x | 6.65x | 6.70x | 7.68x | 7.13x | 7.15x | 6.47x | 5.87x | 5.37x | 5.40x | 4.83x | 4.74x | 4.71x | 5.39x | 5.40x | 4.88x | 4.44x |
| Goodwill | 3.15B | 3.15B | 3.15B | 3.15B | 3.15B | 3.15B | 3.15B | 2.86B | 2.86B | 2.82B | 2.82B | 2.78B | 2.78B | 2.78B | 2.78B | 2.78B | 2.78B | 2.78B | 2.78B | 2.78B |
| Intangible Assets | 1.38B | 1.15B | 1.18B | 1.49B | 1.53B | 1.58B | 1.62B | 1.16B | 1.19B | 1.14B | 1.17B | 1.15B | 1.18B | 1.21B | 1.24B | 1.27B | 1.31B | 1.34B | 1.37B | 1.4B |
| Long-Term Investments | 296.16M | 292M | 47.55M | 33.14M | 18.9M | 25.89M | 10.6M | 13.48M | 11.94M | 9.09M | 23.16M | 24.44M | 3.86M | 20.01M | 8.89M | 5.81M | 2.44M | 3.31M | 2.81M | 2.8M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 8.3B | 8.19B | 8B | 8.06B | 7.37B | 7.27B | 7.34B | 7.28B | 7.4B | 7.06B | 6.5B | 6.49B | 6.24B | 6.26B | 6.14B | 5.99B | 6B | 5.99B | 5.94B | 5.86B |
| Asset Turnover | 0.07x | 0.06x | 0.06x | 0.07x | 0.07x | 0.06x | 0.06x | 0.06x | 0.06x | 0.05x | 0.05x | 0.05x | 0.05x | 0.05x | 0.05x | 0.05x | 0.05x | 0.05x | 0.04x | 0.04x |
| Asset Growth % | 12.56% | 12.68% | 8.99% | 10.59% | -0.35% | 2.95% | 12.79% | 12.23% | 18.52% | 12.77% | 6% | 8.36% | 3.98% | 4.51% | 3.37% | 2.13% | 3.31% | 5.46% | 7.21% | 7.34% |
| Total Current Liabilities | 681.43M | 474.62M | 529.88M | 903.2M | 377.97M | 417.63M | 596.31M | 649.34M | 843.53M | 622.38M | 204.79M | 282.96M | 173.12M | 238.9M | 195.14M | 159.42M | 245.69M | 223.45M | 218.69M | 194.51M |
| Accounts Payable | 282.28M | 187.33M | 267.02M | 689.51M | 226.93M | 163.11M | 386.01M | 501.9M | 733.94M | 409.37M | 51.63M | 168.92M | 67.58M | 63.77M | 38.23M | 41.43M | 118M | 38.83M | 72.48M | 77.78M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21.61M | 0 | 0 | 0 | 0 | 0 | 0 | 20.51M | 0 | 0 | 0 |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 7.09M | 15.6M | 14.69M | 574K | 763K | 1.58M | 0 | 334K | 1.33M | 527K | 1.74M | 9.93M | 1.41M | 4.81M | 3.36M | 4.57M | 4.86M | 3.39M | 3.04M |
| Current Ratio | 3.64x | 4.94x | 4.11x | 2.77x | 4.81x | 4.04x | 3.00x | 3.77x | 3.00x | 3.69x | 8.27x | 6.05x | 8.39x | 6.01x | 6.60x | 7.17x | 4.56x | 5.03x | 4.64x | 4.54x |
| Quick Ratio | 3.64x | 4.94x | 4.11x | 2.77x | 4.81x | 4.04x | 3.00x | 3.77x | 3.00x | 3.69x | 8.27x | 6.05x | 8.39x | 6.01x | 6.60x | 7.17x | 4.56x | 5.03x | 4.64x | 4.54x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 304.68M | 525.7M | 531.1M | 426.58M | 444.79M | 451.48M | 454.01M | 427.79M | 476.4M | 505.75M | 488.02M | 490.18M | 466.08M | 474.92M | 487.9M | 459.35M | 461.7M | 457.79M | 469.49M | 472.06M |
| Long-Term Debt | 0 | 139.17M | 135.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 986.11M | 1B | 1.06B | 1.33B | 822.76M | 869.11M | 1.05B | 1.08B | 1.32B | 1.13B | 692.81M | 773.13M | 639.2M | 713.82M | 683.03M | 618.77M | 707.39M | 681.24M | 688.17M | 666.56M |
| Total Debt | 142.83M | 278.34M | 271.27M | 32.32M | 32.27M | 35.75M | 28.59M | 28.11M | 24.7M | 49.08M | 22.04M | 23.29M | 25.81M | 27.94M | 28.67M | 29.92M | 52.44M | 24.33M | 26.77M | 28.77M |
| Net Debt | -1.79B | -1.81B | -1.64B | -1.6B | -1.28B | -1.31B | -1.15B | -1.69B | -1.52B | -1.66B | -1.47B | -1.37B | -1.21B | -1.23B | -1.08B | -930.8M | -776.62M | -948.72M | -796.13M | -653.45M |
| Debt / Equity | 0.02x | 0.04x | 0.04x | 0.00x | 0.00x | 0.01x | 0.00x | 0.00x | 0.00x | 0.01x | 0.00x | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x | 0.01x | 0.01x |
| Debt / EBITDA | 0.41x | 0.96x | 0.99x | 0.12x | 0.12x | 0.14x | 0.13x | 0.13x | 0.11x | 0.26x | 0.13x | 0.14x | 0.15x | 0.20x | 0.19x | 0.20x | 0.34x | 0.18x | 0.21x | 0.23x |
| Net Debt / EBITDA | -5.16x | -6.21x | -5.96x | -6.08x | -4.78x | -5.19x | -5.28x | -7.96x | -7.01x | -8.77x | -8.60x | -8.47x | -7.19x | -9.02x | -7.34x | -6.15x | -4.98x | -7.04x | -6.11x | -5.20x |
| Interest Coverage | 486.46x | 1134.28x | 517.51x | 530.28x | 378.49x | 367.92x | 121.11x | 339.49x | 109.86x | - | 303.36x | 281.49x | 302.55x | - | - | - | - | - | - | - |
| Total Equity | 7.31B | 7.19B | 6.93B | 6.73B | 6.55B | 6.4B | 6.29B | 6.21B | 6.08B | 5.93B | 5.81B | 5.72B | 5.6B | 5.55B | 5.45B | 5.37B | 5.29B | 5.31B | 5.25B | 5.2B |
| Equity Growth % | 11.65% | 12.35% | 10.32% | 8.36% | 7.75% | 7.88% | 8.17% | 8.57% | 8.48% | 6.94% | 6.57% | 6.45% | 5.8% | 4.47% | 3.91% | 3.32% | 2.49% | 5.77% | 7.56% | 7.64% |
| Book Value per Share | 34.27 | 33.48 | 32.26 | 31.29 | 30.47 | 29.77 | 29.23 | 28.89 | 28.31 | 27.74 | 27.22 | 26.82 | 26.65 | 26.37 | 26.18 | 25.91 | 25.51 | 25.49 | 25.21 | 25.06 |
| Total Shareholders' Equity | 6.62B | 6.51B | 6.28B | 6.1B | 5.94B | 5.8B | 5.7B | 5.63B | 5.51B | 5.37B | 5.27B | 5.18B | 5B | 4.95B | 4.87B | 4.71B | 4.65B | 4.65B | 4.59B | 4.55B |
| Common Stock | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K |
| Retained Earnings | 1.73B | 1.6B | 1.41B | 1.25B | 1.12B | 996.76M | 910.75M | 843.16M | 745.24M | 640.38M | 570.15M | 495.48M | 433.05M | 386.63M | 348.33M | 304.9M | 261.92M | 242.62M | 221.95M | 195.37M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 7.93M | 10.9M | 7.75M | 7.03M | -1.81M | -9.98M | 1.11M | -7.92M | -7.52M | -5.39M | -10.84M | -6.82M | -7.76M | -10.11M | -21.6M | -10.4M | -1.96M | 1.6M | 2.28M | 4.71M |
| Minority Interest | 689.38M | 681.48M | 654.26M | 628.5M | 608.29M | 598.69M | 585.74M | 576.6M | 567.23M | 557.65M | 545.93M | 534.91M | 597.97M | 592.52M | 584.68M | 655.87M | 645.12M | 663.35M | 658.06M | 650.36M |