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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 $1.9B
LTM EBITDA $1.0B
$29.5B
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 (LTM) of $1.9B and a last 12-month EBITDA of $1.0B.
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| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $1.9B | XXX | $1.7B | XXX | XXX | XXX |
| Gross Profit | $1.9B | XXX | $1.1B | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | 66% | XXX | XXX | XXX |
| EBITDA | $1.0B | XXX | $979M | XXX | XXX | XXX |
| EBITDA Margin | 54% | XXX | 57% | XXX | XXX | XXX |
| EBIT | $933M | XXX | $686M | XXX | XXX | XXX |
| EBIT Margin | 50% | XXX | 40% | XXX | XXX | XXX |
| Net Profit | $745M | XXX | $502M | XXX | XXX | XXX |
| Net Margin | 40% | XXX | 29% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Tradeweb Markets's stock price is $144.
Tradeweb Markets has current market cap of $30.8B, and EV of $29.5B.
See Tradeweb Markets trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $29.5B | $30.8B | XXX | XXX | XXX | XXX | $3.13 |
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Start Free TrialAs of May 30, 2025, Tradeweb Markets has market cap of $30.8B and EV of $29.5B.
Tradeweb Markets's trades at 17.1x EV/Revenue multiple, and 30.2x EV/EBITDA.
Equity research analysts estimate Tradeweb Markets's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Tradeweb Markets has a P/E ratio of 41.4x.
See valuation multiples for Tradeweb Markets and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $30.8B | XXX | $30.8B | XXX | XXX | XXX |
| EV (current) | $29.5B | XXX | $29.5B | XXX | XXX | XXX |
| EV/Revenue | 15.9x | XXX | 17.1x | XXX | XXX | XXX |
| EV/EBITDA | 29.5x | XXX | 30.2x | XXX | XXX | XXX |
| EV/EBIT | 31.7x | XXX | 43.1x | XXX | XXX | XXX |
| EV/Gross Profit | 15.9x | XXX | n/a | XXX | XXX | XXX |
| P/E | 41.4x | XXX | 61.5x | XXX | XXX | XXX |
| EV/FCF | 74.9x | XXX | 36.5x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialTradeweb Markets's last 12 month revenue growth is 15%
Tradeweb Markets's revenue per employee in the last FY averaged $1.2M, while opex per employee averaged $0.3M for the same period.
Tradeweb Markets's rule of 40 is 66% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Tradeweb Markets's rule of X is 93% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Tradeweb Markets and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 15% | XXX | 15% | XXX | XXX | XXX |
| EBITDA Margin | 54% | XXX | 57% | XXX | XXX | XXX |
| EBITDA Growth | 17% | XXX | 28% | XXX | XXX | XXX |
| Rule of 40 | 66% | XXX | 72% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 93% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $1.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 26% | 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 |
Valuation data powered by FactSet, Inc.
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 |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| 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 $30.8B |
| What is the current revenue of Tradeweb Markets? | Tradeweb Markets's last 12 months revenue is $1.9B. |
| What is the current revenue growth of Tradeweb Markets? | Tradeweb Markets revenue growth (NTM/LTM) is 15%. |
| What is the current EV/Revenue multiple of Tradeweb Markets? | Current revenue multiple of Tradeweb Markets is 15.9x. |
| Is Tradeweb Markets profitable? | Yes, Tradeweb Markets is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Tradeweb Markets? | Tradeweb Markets's last 12 months EBITDA is $1.0B. |
| What is Tradeweb Markets's EBITDA margin? | Tradeweb Markets's last 12 months EBITDA margin is 54%. |
| What is the current EV/EBITDA multiple of Tradeweb Markets? | Current EBITDA multiple of Tradeweb Markets is 29.5x. |
| What is the current FCF of Tradeweb Markets? | Tradeweb Markets's last 12 months FCF is $395M. |
| What is Tradeweb Markets's FCF margin? | Tradeweb Markets's last 12 months FCF margin is 21%. |
| What is the current EV/FCF multiple of Tradeweb Markets? | Current FCF multiple of Tradeweb Markets is 74.9x. |
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