Tradeweb Markets Inc. (TW) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 419.97M | 361.92M | 343.61M | 343.28M | 332.8M | 311.14M | 288.75M | 267.71M | 265.65M | 244.13M | 212.34M | 206.69M | 214.76M | 191.22M | 184.4M | 187.25M | 193.5M | 169.73M | 167.29M | 162.39M |
| Gross Margin % | 67.98% | 69.44% | 67.56% | 66.92% | 65.3% | 67.15% | 64.32% | 66.11% | 64.99% | 65.98% | 64.67% | 66.54% | 65.23% | 65.25% | 64.22% | 63.02% | 62.12% | 61.3% | 63.05% | 62.26% |
| Gross Profit Growth % | 26.19% | 16.32% | 19% | 28.23% | 25.28% | 27.45% | 35.99% | 29.53% | 23.7% | 27.67% | 15.16% | 10.38% | 10.99% | 12.66% | 10.23% | 15.31% | 13.97% | 15.64% | 29.78% | 31.77% |
| Operating Expenses | 132.72M | 131.12M | 133.23M | 143.43M | 128.7M | 122.6M | 129.44M | 105.22M | 97.97M | 102.5M | 87.6M | 90.35M | 92.19M | 99.67M | 81.58M | 80.64M | 81.89M | 78.55M | 81.76M | 78.6M |
| OpEx % of Revenue | 21.48% | 25.16% | 26.2% | 27.96% | 25.25% | 26.46% | 28.83% | 25.98% | 23.97% | 27.7% | 26.68% | 29.09% | 28% | 34.01% | 28.42% | 27.14% | 26.29% | 28.37% | 30.82% | 30.13% |
| Selling, General & Admin | 72.01M | 80.81M | 68.88M | 80.38M | 66M | 59.74M | 191.03M | 55.28M | 48.64M | 55M | 41.04M | 44.47M | 46.79M | 54.79M | 36.81M | 35.87M | 37.44M | 34.9M | 36.94M | 36.73M |
| SG&A % of Revenue | 11.66% | 15.51% | 13.54% | 15.67% | 12.95% | 12.89% | 42.55% | 13.65% | 11.9% | 14.86% | 12.5% | 14.32% | 14.21% | 18.7% | 12.82% | 12.07% | 12.02% | 12.6% | 13.92% | 14.08% |
| Research & Development | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 287.25M | 230.8M | 210.37M | 199.85M | 204.1M | 188.54M | 159.32M | 162.49M | 167.68M | 141.63M | 124.74M | 116.33M | 122.57M | 91.55M | 102.81M | 106.61M | 111.6M | 91.18M | 85.53M | 83.79M |
| Operating Margin % | 46.5% | 44.28% | 41.36% | 38.96% | 40.05% | 40.69% | 35.49% | 40.13% | 41.02% | 38.28% | 37.99% | 37.45% | 37.23% | 31.24% | 35.81% | 35.88% | 35.83% | 32.93% | 32.24% | 32.12% |
| Operating Income Growth % | 40.74% | 22.41% | 32.05% | 22.99% | 21.72% | 33.12% | 27.72% | 39.68% | 36.81% | 54.7% | 21.33% | 9.13% | 9.82% | 0.41% | 20.21% | 27.23% | 13.5% | 27.38% | 46.15% | 50.6% |
| EBITDA | 347.96M | 290.89M | 274.72M | 262.9M | 266.8M | 251.39M | 217.19M | 212.43M | 217.01M | 189.13M | 171.3M | 162.22M | 167.97M | 136.44M | 147.59M | 151.38M | 156.05M | 134.83M | 130.35M | 125.66M |
| EBITDA Margin % | 56.33% | 55.81% | 54.02% | 51.25% | 52.35% | 54.26% | 48.38% | 52.46% | 53.09% | 51.12% | 52.17% | 52.23% | 51.02% | 46.56% | 51.4% | 50.94% | 50.1% | 48.7% | 49.13% | 48.17% |
| EBITDA Growth % | 30.42% | 15.71% | 26.49% | 23.76% | 22.94% | 32.92% | 26.79% | 30.95% | 29.2% | 38.62% | 16.06% | 7.16% | 7.64% | 1.19% | 13.22% | 20.47% | 12.03% | 21.02% | 33.86% | 34.31% |
| D&A (Non-Cash Add-back) | 60.71M | 60.09M | 64.35M | 63.05M | 62.7M | 62.85M | 57.87M | 49.94M | 49.34M | 47.5M | 46.56M | 45.89M | 45.4M | 44.88M | 44.78M | 44.77M | 44.45M | 43.65M | 44.82M | 41.87M |
| EBIT | 303.55M | 457.12M | 270.14M | 227.49M | 222.17M | 210.82M | 175.12M | 184M | 188.74M | 132.11M | 140.76M | 131.46M | 135.85M | 105.21M | 102.81M | 106.61M | 111.6M | 103.93M | 85.53M | 83.79M |
| Net Interest Income | 16.83M | 18.84M | 19.83M | 14.54M | 13.26M | 14.23M | 15.22M | 20.97M | 19.34M | 0 | 17.46M | 15.11M | 12.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 17.45M | 19.24M | 20.35M | 14.97M | 13.85M | 14.8M | 16.66M | 21.51M | 21.06M | 0 | 17.93M | 15.58M | 12.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 624K | 403K | 522K | 429K | 587K | 573K | 1.45M | 542K | 1.72M | 0 | 464K | 467K | 449K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | 302.92M | 456.71M | 269.62M | 227.06M | 221.58M | 210.25M | 173.67M | 183.46M | 187.02M | 141.3M | 140.3M | 130.99M | 135.4M | 112.61M | 106.22M | 107.15M | 111.16M | 103.52M | 85.17M | 83.47M |
| Pretax Margin % | 49.04% | 87.63% | 53.01% | 44.26% | 43.48% | 45.38% | 38.69% | 45.3% | 45.76% | 38.19% | 42.73% | 42.17% | 41.12% | 38.43% | 37% | 36.06% | 35.69% | 37.39% | 32.1% | 32% |
| Income Tax | 69.76M | 89.59M | 59.07M | 51.54M | 53.28M | 50.3M | 43.45M | 47.05M | 43.64M | 37.56M | 28.67M | 29.05M | 33.2M | 13.61M | 24.66M | 25.55M | 13.71M | 43.51M | 19.86M | 17.23M |
| Effective Tax Rate % | 23.03% | 19.62% | 21.91% | 22.7% | 24.04% | 23.93% | 25.02% | 25.64% | 23.33% | 26.58% | 20.43% | 22.18% | 24.52% | 12.08% | 23.21% | 23.84% | 12.33% | 42.03% | 23.32% | 20.65% |
| Net Income | 205.28M | 324.99M | 185.64M | 153.78M | 148.38M | 142.21M | 113.92M | 119.24M | 126.14M | 89.31M | 98.61M | 89.08M | 87.86M | 88.95M | 69.08M | 68.34M | 82.97M | 48.89M | 54.76M | 55.32M |
| Net Margin % | 33.23% | 62.36% | 36.5% | 29.98% | 29.11% | 30.69% | 25.38% | 29.45% | 30.86% | 24.14% | 30.03% | 28.68% | 26.68% | 30.35% | 24.06% | 23% | 26.64% | 17.66% | 20.64% | 21.21% |
| Net Income Growth % | 38.35% | 128.53% | 62.96% | 28.97% | 17.63% | 59.22% | 15.52% | 33.85% | 43.58% | 0.41% | 42.75% | 30.34% | 5.9% | 81.93% | 26.15% | 23.55% | 22.26% | -11.21% | 48.76% | 81.39% |
| Net Income (Continuing) | 233.17M | 367.12M | 210.55M | 175.52M | 168.31M | 159.94M | 130.22M | 136.42M | 143.38M | 103.74M | 111.63M | 101.94M | 102.19M | 99M | 81.57M | 81.6M | 97.44M | 60.01M | 65.31M | 66.23M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 |
| EPS (Diluted) | 0.96 | 1.51 | 0.86 | 0.71 | 0.69 | 0.66 | 0.53 | 0.55 | 0.59 | 0.42 | 0.46 | 0.42 | 0.42 | 0.42 | 0.33 | 0.33 | 0.40 | 0.23 | 0.26 | 0.27 |
| EPS Growth % | 39.13% | 128.79% | 62.26% | 29.09% | 16.95% | 57.14% | 15.22% | 30.95% | 40.48% | 0% | 39.39% | 27.27% | 5% | 82.61% | 26.92% | 22.22% | 21.21% | -17.86% | 36.84% | 68.75% |
| EPS (Basic) | 0.96 | 1.52 | 0.87 | 0.72 | 0.70 | 0.67 | 0.53 | 0.56 | 0.59 | 0.42 | 0.47 | 0.42 | 0.42 | 0.43 | 0.34 | 0.33 | 0.41 | 0.24 | 0.27 | 0.27 |
| Diluted Shares Outstanding | 213.32M | 214.74M | 214.98M | 214.97M | 214.9M | 214.93M | 215.1M | 214.9M | 214.66M | 213.83M | 213.49M | 213.16M | 210.14M | 210.33M | 208.33M | 207.27M | 207.5M | 208.28M | 208.2M | 207.46M |
| Basic Shares Outstanding | 212.69M | 213.07M | 213.36M | 213.34M | 213.09M | 213.03M | 213.21M | 213.16M | 212.71M | 211.84M | 211.62M | 211.57M | 208.11M | 207.98M | 205.72M | 204.5M | 204.06M | 202.58M | 202.24M | 201.75M |
| Dividend Payout Ratio | 14.5% | 7.86% | 13.8% | 16.65% | 17.23% | 14.98% | 18.72% | 17.88% | 16.87% | 21.36% | 19.32% | 21.38% | 21.32% | 18.71% | 24.11% | 23.94% | 19.71% | 33.16% | 29.55% | 29.18% |