TWTradeweb Markets Inc.
Security & Commodity Brokers, Dealers, Exchanges & Services
- Revenue
- $2.1B
- 19% YoY
- Operating margin
- 40.7%
- 3.6% YoY
- EBITDA
- $1.1B
- 21% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear144% of net incomeCash flow under 80% of net income
- Dilutive SBCClear5% of revenueOver 10% of revenue
- Payouts exceed cash flowClear9% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear37% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.3B | $1.7B | $2.1B | 19% |
| Operating income | $359M | $413M | $505M | $678M | $835M | 23% |
| Net income | $227M | $309M | $365M | $502M | $813M | 62% |
| Operating cash flow | $578M | $633M | $746M | $898M | $1.2B | 30% |
| Capex | $17M | $23M | $19M | $41M | $41M | 1.0% |
| Stock-based comp | $52M | $67M | $65M | $90M | $104M | 15% |
| Buybacks | $76M | $99M | $35M | $59M | $104M | 76% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.