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Founded in 1998 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. While it does offer electronic processing for some voice-negotiated trades, the company focuses primarily on providing electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in U.S. and European government debt, mortgage-backed securities, interest-rate swaps, and U.S. and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with Refinitiv’s Eikon service.
2018
1.4K+
LTM Revenue $1.8B
LTM EBITDA $979M
$26.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Tradeweb Markets has a last 12-month revenue of $1.8B and a last 12-month EBITDA of $979M.
In the most recent fiscal year, Tradeweb Markets achieved revenue of $1.7B and an EBITDA of $979M.
Tradeweb Markets expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Tradeweb Markets valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $1.3B | $1.7B | XXX | XXX | XXX |
| Gross Profit | $756M | $878M | XXX | XXX | XXX |
| Gross Margin | 57% | 51% | XXX | XXX | XXX |
| EBITDA | $681M | $979M | XXX | XXX | XXX |
| EBITDA Margin | 51% | 57% | XXX | XXX | XXX |
| Net Profit | $309M | $365M | XXX | XXX | XXX |
| Net Margin | 23% | 21% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Tradeweb Markets's stock price is $131.
Tradeweb Markets has current market cap of $28.0B, and EV of $26.7B.
See Tradeweb Markets trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $26.7B | $28.0B | XXX | XXX | XXX | XXX | $3.06 |
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Sign UpAs of April 15, 2025, Tradeweb Markets has market cap of $28.0B and EV of $26.7B.
Tradeweb Markets's trades at 14.7x LTM EV/Revenue multiple, and 27.3x LTM EBITDA.
Analysts estimate Tradeweb Markets's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Tradeweb Markets and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $26.7B | XXX | XXX | XXX |
| EV/Revenue | 15.5x | XXX | XXX | XXX |
| EV/EBITDA | 27.3x | XXX | XXX | XXX |
| P/E | 55.8x | XXX | XXX | XXX |
| P/E/Growth | 1.6x | XXX | XXX | XXX |
| EV/FCF | 33.0x | XXX | XXX | XXX |
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Sign UpTradeweb Markets's NTM/LTM revenue growth is 17%
Tradeweb Markets's revenue per employee for the last fiscal year averaged $1.2M, while opex per employee averaged $0.3M for the same period.
Over next 12 months, Tradeweb Markets's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Tradeweb Markets's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Tradeweb Markets and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 29% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 57% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 44% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 73% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $1.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.3M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 14% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 26% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Allfunds Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Flow Traders | XXX | XXX | XXX | XXX | XXX | XXX |
| SelfWealth | XXX | XXX | XXX | XXX | XXX | XXX |
| Stock3 | XXX | XXX | XXX | XXX | XXX | XXX |
| NanoFocus | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Tradeweb Markets acquired XXX companies to date.
Last acquisition by Tradeweb Markets was XXXXXXXX, XXXXX XXXXX XXXXXX . Tradeweb Markets acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Tradeweb Markets founded? | Tradeweb Markets was founded in 2018. |
| Where is Tradeweb Markets headquartered? | Tradeweb Markets is headquartered in United States of America. |
| How many employees does Tradeweb Markets have? | As of today, Tradeweb Markets has 1.4K+ employees. |
| Who is the CEO of Tradeweb Markets? | Tradeweb Markets's CEO is Mr. William Hult. |
| Is Tradeweb Markets publicy listed? | Yes, Tradeweb Markets is a public company listed on NAS. |
| What is the stock symbol of Tradeweb Markets? | Tradeweb Markets trades under TW ticker. |
| When did Tradeweb Markets go public? | Tradeweb Markets went public in 2019. |
| Who are competitors of Tradeweb Markets? | Similar companies to Tradeweb Markets include e.g. Allfunds Group, Flow Traders, SelfWealth, Stock3. |
| What is the current market cap of Tradeweb Markets? | Tradeweb Markets's current market cap is $28.0B |
| What is the current revenue of Tradeweb Markets? | Tradeweb Markets's last 12-month revenue is $1.8B. |
| What is the current EBITDA of Tradeweb Markets? | Tradeweb Markets's last 12-month EBITDA is $979M. |
| What is the current EV/Revenue multiple of Tradeweb Markets? | Current revenue multiple of Tradeweb Markets is 14.7x. |
| What is the current EV/EBITDA multiple of Tradeweb Markets? | Current EBITDA multiple of Tradeweb Markets is 27.3x. |
| What is the current revenue growth of Tradeweb Markets? | Tradeweb Markets revenue growth between 2023 and 2024 was 29%. |
| Is Tradeweb Markets profitable? | Yes, Tradeweb Markets is EBITDA-positive (as of the last 12 months). |
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