Earnings summaries and quarterly performance for Tradeweb Markets.
Executive leadership at Tradeweb Markets.
Billy Hult
Detailed
Chief Executive Officer
CEO
AC
Amy Clack
Detailed
Chief Administrative Officer
DF
Douglas Friedman
Detailed
General Counsel and Secretary
EB
Enrico Bruni
Detailed
Managing Director, Co-Head of Global Markets
JP
Justin Peterson
Detailed
Chief Technology Officer
SF
Sara Furber
Detailed
Chief Financial Officer
SZ
Scott Zucker
Detailed
Chief Risk Officer
TD
Troy Dixon
Detailed
Managing Director, Co-Head of Global Markets
Board of directors at Tradeweb Markets.
BB
Balbir Bakhshi
Detailed
Director
CJ
Catherine Johnson
Detailed
Director
DM
Daniel Maguire
Detailed
Director
JA
Jacques Aigrain
Detailed
Chairperson of the Board
LO
Lisa Opoku
Detailed
Director
PM
Paula Madoff
Detailed
Lead Independent Director
RY
Rana Yared
Detailed
Director
RR
Rich Repetto
Detailed
Director
SG
Scott Ganeles
Detailed
Director
SB
Steven Berns
Detailed
Director
Research analysts who have asked questions during Tradeweb Markets earnings calls.
Alexander Blostein
Goldman Sachs
6 questions for TW
Also covers: AB, AMG, AMP +31 more
AK
Alex Kramm
UBS Group AG
5 questions for TW
Also covers: BR, CBOE, CBRE +15 more
PM
Patrick Moley
Piper Sandler & Co.
5 questions for TW
Also covers: BGC, CBOE, CME +17 more
CA
Christopher Allen
Citigroup
4 questions for TW
Also covers: CBOE, CME, ETOR +9 more
Craig Siegenthaler
Bank of America
4 questions for TW
Also covers: AB, AMP, AMTD +26 more
Benjamin Budish
Barclays PLC
3 questions for TW
Also covers: AB, APO, ARES +24 more
DF
Daniel Fannon
Jefferies Financial Group Inc.
3 questions for TW
Also covers: AB, AMG, AMTD +27 more
KW
Kenneth Worthington
JPMorgan Chase & Co.
3 questions for TW
Also covers: APO, ARES, BAM +27 more
Michael Cyprys
Morgan Stanley
3 questions for TW
Also covers: AAMI, AMP, AMTD +30 more
BH
Bradley Hayes
TD Cowen Inc.
2 questions for TW
JS
Jeffrey Schmitt
William Blair
2 questions for TW
Also covers: AIZ, AMP, CBOE +8 more
KW
Ken Worthington
JPMorgan
2 questions for TW
Also covers: ARES, BLK, BLSH +10 more
Kyle Voigt
Keefe, Bruyette & Woods
2 questions for TW
Also covers: AMTD, APO, ARES +17 more
RF
Richard Fellinger
Autonomous Research
2 questions for TW
Ben Budish
Barclays PLC
1 question for TW
Also covers: AB, APO, ARES +23 more
DF
Dan Fannon
Jefferies & Company Inc.
1 question for TW
Also covers: AB, AMG, AMTD +25 more
WK
William Katz
TD Cowen
1 question for TW
Also covers: AB, AMG, AMTD +25 more
Recent press releases and 8-K filings for TW.
Tradeweb Markets Reports Record Q4 and Full-Year 2025 Results
TW
Earnings
Guidance Update
Share Buyback
- Tradeweb Markets achieved a record revenue year and quarter in 2025, with annual revenue exceeding $2 billion for the first time, and Q4 2025 revenue reaching $521 million, up 12.5% year-over-year on a reported basis.
- For the full year 2025, the company reported 19% annual revenue growth, a 54% Adjusted EBITDA margin (an increase of 64 basis points), 19% adjusted EPS growth, and 32% free cash flow growth.
- The company provided 2026 guidance, expecting adjusted expenses to range between $1.1 billion and $1.16 billion, with the midpoint representing an approximate 11% increase year-over-year.
- The board declared a quarterly dividend of $0.14 per share, marking a 17% increase year-over-year, and approved a new $500 million share repurchase program for 2026.
- Tradeweb continues to invest in digital assets, with other revenues growing over 90% year-over-year in Q4 2025, and is positioned to be a premier venue for tokenized U.S. Treasuries.
1 day ago
Tradeweb Reports Record Q4 and Full-Year 2025 Results, Announces Dividend Increase and New Share Repurchase Program
TW
Earnings
Guidance Update
Share Buyback
- Tradeweb reported record Q4 2025 revenues of $521 million, an increase of 12.5% year-over-year, contributing to a record $2 billion in annual revenue for 2025, representing 19% annual growth. The company also achieved 19% adjusted EPS growth and 32% free cash flow growth for the full year 2025.
- Digital asset initiatives significantly contributed to growth, with other revenues increasing over 90% year-over-year in Q4 2025, including $6.6 million from the Canton Network. Tradeweb holds approximately 1.6 billion Canton Coins with a fair value of about $243 million and recorded $207 million in net gains from strategic investments in Q4 2025.
- The board declared a quarterly dividend of $0.14 per share, a 17% increase year-over-year, and approved a new $500 million share repurchase program for 2026. For 2026, adjusted expenses are projected to be between $1.1 billion and $1.16 billion, an approximate 11% increase at the midpoint, with January 2026 showing 17% year-over-year revenue growth.
1 day ago
Tradeweb Markets Reports Record Q4 and Full-Year 2025 Results, Highlights Digital Asset Growth and 2026 Outlook
TW
Earnings
Guidance Update
New Projects/Investments
- Tradeweb Markets achieved record revenues of $521 million in Q4 2025, marking a 12.5% year-over-year increase, and surpassed $2 billion in annual revenue for the first time in 2025, reflecting 19% annual revenue growth and 19% adjusted EPS growth.
- The company saw significant growth in digital asset initiatives, with "Other revenues" increasing over 90% year-over-year in Q4 2025, and is positioned as a premier venue for tokenized U.S. Treasuries, with a pilot program expected to launch in the second half of 2026.
- For 2026, Tradeweb expects CapEx and capitalized software development to range between $107 million and $117 million, with January 2026 total revenue growth reported at 17% year-over-year.
- The mortgage business, a historically dominant market for Tradeweb, showed a 15% revenue increase in January 2026, with a strong outlook for the year.
1 day ago
Tradeweb Reports Strong Q4 and Full-Year 2025 Results, Announces Share Buyback and Dividend Increase
TW
Earnings
Share Buyback
Dividends
- Tradeweb (TW) reported Q4 2025 revenue of $521.2 million, up 12.5% year-over-year, and full-year 2025 revenue of $2,052 million, an 18.9% increase.
- Adjusted Diluted EPS reached $0.87 for Q4 2025 (up 14.5% year-over-year) and $3.47 for full-year 2025 (up 18.8% year-over-year).
- The company generated Free Cash Flow of $1,065 million in FY 2025, marking a 31.6% year-over-year increase.
- Tradeweb executed $105.9 million in share buybacks in Q4 2025, authorized an additional $500 million for future repurchases, and increased its quarterly dividend to $0.14 per share payable in March 2026.
- For FY 2026, the company provided guidance for Adjusted Expenses between $1,100 million and $1,160 million and Cash Capex & Capitalized Software Development between ~$107 million and $117 million.
1 day ago
Tradeweb Reports Strong Q4 and Full-Year 2025 Results, Increases Dividend, and Authorizes New Share Repurchase Program
TW
Earnings
Dividends
Share Buyback
- Tradeweb Markets Inc. reported record quarterly revenue of $521.2 million for Q4 2025, an increase of 12.5% year-over-year, and record annual revenue of $2.1 billion for full year 2025, up 18.9% from 2024.
- For Q4 2025, diluted earnings per share (EPS) was $1.51 and adjusted diluted EPS was $0.87.
- The company's Board of Directors declared a quarterly cash dividend of $0.14 per share, representing a 16.7% increase from the prior year period.
- A new $500 million share repurchase program was authorized, which will commence after the remaining $23.2 million of the existing program is exhausted.
- Tradeweb provided Full-Year 2026 guidance, including Adjusted Expenses of $1,100 - 1,160 million and cash capital expenditures and capitalized software development of ~$107 - 117 million.
2 days ago
Tradeweb Reports Strong Q4 and Record Full Year 2025 Results, Increases Dividend and Share Repurchase Program
TW
Earnings
Dividends
Share Buyback
- Tradeweb Markets reported record annual revenue of $2.1 billion for the full year 2025, an 18.9% increase from the prior year, and $521.2 million in quarterly revenues for Q4 2025, up 12.5%.
- For Q4 2025, net income increased by 129.5% to $367.1 million, with diluted EPS of $1.51, while full-year 2025 net income rose 61.7% to $921.5 million, with diluted EPS of $3.78. These results include significant non-operating other income gains on Canton Coin holdings.
- The company's Board of Directors raised the quarterly cash dividend by 16.7% to $0.14 per share and authorized a new $500 million share repurchase program.
- Tradeweb provided full-year 2026 guidance, projecting Adjusted Expenses between $1,100 and $1,160 million and cash capital expenditures and capitalized software development between $107 and $117 million.
2 days ago
Tradeweb Launches Multi-Asset Package Trading for USD Swaps
TW
Product Launch
New Projects/Investments
- Tradeweb Markets Inc. (Nasdaq: TW) has launched multi-asset package trading for USD-denominated swaps on its Tradeweb swap execution facility (TW SEF).
- The launch was highlighted by the first fully electronic multi-asset package trade for USD swaps, executed between Barclays and a global hedge fund.
- This new functionality allows institutional clients to streamline the simultaneous execution of interest rate swaps, inflation swaps, and government bonds within a single trade, aiming for greater transparency, efficiency, and smarter analytics.
- Tradeweb has previously implemented similar functionality successfully in Europe and has a history of expanding its derivatives offerings.
Jan 29, 2026, 1:00 PM
Tradeweb Completes First On-Chain Electronic Auction for Brokered CDs
TW
New Projects/Investments
Product Launch
- Tradeweb Markets Inc. completed the industry's first fully electronic auction for brokered certificates of deposit (CDs), executed on-chain and powered by Alphaledger's blockchain technology.
- The inaugural transaction took place on Tradeweb's retail platform between Gateway First Bank and InspereX.
- This initiative aims to modernize a market historically reliant on manual processes, expanding access, transparency, and improving execution for issuers, distributors, and investors.
- Brokered CD issuance year-to-date through October 2025 amounts to approximately $566 billion, with total outstanding estimated at about $820 billion.
- Tradeweb's retail platform facilitates over $5.35 billion in average daily trading volume year-to-date through November 2025.
Dec 15, 2025, 1:00 PM
Tradeweb CEO Discusses 2025 Performance, 2026 Growth Opportunities, and Market Evolution
TW
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Tradeweb expects to conclude 2025 with strong earnings per share growth of around 17%-18% and anticipates continued growth in 2026, driven by expanding debt markets and the ongoing shift from phone-based to electronic trading.
- Key growth areas include the swaps market, with continued electronification of non-cleared swaps, international expansion into regions like Australia and Japan, and significant opportunities in the largely voice-based wholesale swaps business.
- In the credit business, Tradeweb aims to re-accelerate growth by encouraging more proactive electronic engagement from dealers, focusing on axes and inventory, and developing traditional Request for Quote (RFQ) solutions. Emerging Market (EM) credit is also identified as a significant growth area.
- Tradeweb is actively exploring tokenization and its potential to create more efficient marketplaces, particularly in the TBA mortgage market, through its partnership with Canton Network.
- For Q4 2025, October revenue was trending up 9% year-over-year, and November saw average daily revenue growth of approximately 16% or 17%, despite challenging comparisons and one less trading day.
Dec 10, 2025, 3:40 PM
Tradeweb CEO Discusses Strong 2025 Performance, 2026 Growth Drivers, and Tokenization Initiatives
TW
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Tradeweb (TW) expects to conclude 2025 with strong financial results, projecting nearly high-teens earnings per share growth, primarily driven by revenue, with CEO Billy Hult noting approximately 17%-18% growth for the year.
- Looking into 2026, key growth opportunities include the continued electronification of the swaps market, which experienced 35% year-over-year revenue growth, and expanding the credit business by encouraging dealer electronic proactivity and focusing on Emerging Market (EM) credit.
- The company is strategically investing in tokenization through its partnership with Canton Network, identifying a significant opportunity to enhance the inefficient settlement processes within the TBA mortgage market.
- Recent performance indicates strong momentum, with November 2025 average daily revenue growing approximately 16% to 17% year-over-year, despite challenges in the credit market.
Dec 10, 2025, 3:40 PM
Quarterly earnings call transcripts for Tradeweb Markets.
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