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Tradeweb Markets Inc (TW)



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Upturn Advisory Summary
08/14/2025: TW (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $153.13
1 Year Target Price $153.13
6 | Strong Buy |
5 | Buy |
4 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 5.56% | Avg. Invested days 44 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 28.52B USD | Price to earnings Ratio 50.6 | 1Y Target Price 153.13 |
Price to earnings Ratio 50.6 | 1Y Target Price 153.13 | ||
Volume (30-day avg) 16 | Beta 0.87 | 52 Weeks Range 110.35 - 152.52 | Updated Date 08/15/2025 |
52 Weeks Range 110.35 - 152.52 | Updated Date 08/15/2025 | ||
Dividends yield (FY) 0.34% | Basic EPS (TTM) 2.58 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-07-23 | When Before Market | Estimate 0.8534 | Actual 0.87 |
Profitability
Profit Margin 28.9% | Operating Margin (TTM) 38.91% |
Management Effectiveness
Return on Assets (TTM) 8.27% | Return on Equity (TTM) 9.8% |
Valuation
Trailing PE 50.6 | Forward PE 42.19 | Enterprise Value 26259857661 | Price to Sales(TTM) 14.76 |
Enterprise Value 26259857661 | Price to Sales(TTM) 14.76 | ||
Enterprise Value to Revenue 13.57 | Enterprise Value to EBITDA 24.27 | Shares Outstanding 116454000 | Shares Floating 116285178 |
Shares Outstanding 116454000 | Shares Floating 116285178 | ||
Percent Insiders 0.09 | Percent Institutions 102.56 |
Upturn AI SWOT
Tradeweb Markets Inc

Company Overview
History and Background
Tradeweb Markets Inc. was founded in 1996 as an electronic trading platform for U.S. Treasury securities. It has since expanded to offer trading solutions across a wide range of asset classes, including fixed income, derivatives, equities, and money markets. The company went public in April 2019.
Core Business Areas
- Rates: Offers electronic trading solutions for government bonds, corporate bonds, and other fixed-income products.
- Credit: Provides electronic trading platforms for corporate bonds, high-yield bonds, and credit derivatives.
- Equities: Facilitates electronic trading in equities, including ETFs and other equity-related products.
- Money Markets: Offers electronic trading solutions for money market instruments, such as commercial paper and certificates of deposit.
- Derivatives: Facilitates electronic trading in interest rate swaps and other derivatives
Leadership and Structure
Billy Hult serves as the CEO of Tradeweb Markets Inc. The company has a board of directors overseeing its strategic direction. Tradeweb operates with a functional organizational structure, with specialized teams focused on different asset classes and client segments.
Top Products and Market Share
Key Offerings
- U.S. Government Bonds: Tradeweb is a leading platform for electronic trading of U.S. Government Bonds. Competitors include BrokerTec (CME) and Bloomberg. Tradeweb estimates it has >20% market share in overall US Government bond trading.
- Interest Rate Swaps: Tradeweb offers a platform for trading interest rate swaps. Competitors include Bloomberg, BrokerTec, and TP ICAP. Estimated 25% overall market share in USD IRS.
- Corporate Bonds: Tradeweb offers a platform for trading corporate bonds. Competitors include MarketAxess, Bloomberg. Tradeweb estimates roughly 19% market share in US High Grade corporate bond trading.
Market Dynamics
Industry Overview
The financial technology sector is characterized by increasing electronification of trading, regulatory changes, and growing demand for efficient and transparent marketplaces. The industry is highly competitive, with a mix of established players and innovative startups.
Positioning
Tradeweb Markets Inc. is positioned as a leading provider of electronic trading solutions for institutional clients. Its competitive advantages include a diversified product portfolio, a strong network of clients, and a proven track record of innovation.
Total Addressable Market (TAM)
Estimated to be in the tens of billions of dollars annually across all fixed income, equities and derivatives products traded electronically. Tradeweb is well-positioned to capture a significant portion of this TAM with its existing product offerings and continued expansion into new markets.
Upturn SWOT Analysis
Strengths
- Strong market position
- Diversified product portfolio
- Extensive client network
- Innovative technology platform
- Experienced management team
Weaknesses
- Reliance on financial market conditions
- Exposure to regulatory changes
- Competition from established players and new entrants
- Integration risks associated with acquisitions
Opportunities
- Expanding into new asset classes
- Increasing electronic trading adoption
- Growing demand for data and analytics
- Leveraging strategic partnerships
- International expansion
Threats
- Economic downturn
- Increased competition
- Regulatory changes
- Cybersecurity risks
- Technological disruptions
Competitors and Market Share
Key Competitors
- MKTX
- BBG
- CME
- ICE
- TP ICAP
Competitive Landscape
Tradeweb competes with other electronic trading platforms and traditional intermediaries. It differentiates itself through its diversified product portfolio, strong client relationships, and innovative technology.
Major Acquisitions
Dealerweb
- Year: 2008
- Acquisition Price (USD millions): 390
- Strategic Rationale: Expanded Tradeweb's presence in the interdealer market for U.S. Treasury securities.
Growth Trajectory and Initiatives
Historical Growth: Historical growth data unavailable as no specific period requested.
Future Projections: Future growth projections unavailable as no specific period requested.
Recent Initiatives: Tradeweb continues to invest in technology and expand its product offerings. It is also focused on growing its presence in new markets and increasing its market share in existing markets.
Summary
Tradeweb is a strong player in the electronic trading market, benefiting from a diversified product portfolio and established client base. The company continues to invest in technology to improve its platform and is executing on acquisition strategies to expand its capabilities. It needs to be aware of increasing competition and regulatory changes that could impact profitability. Ultimately, Tradeweb is poised for future growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings
- Industry Reports
- Analyst Estimates
- Tradeweb Investor Relations
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market conditions and company performance are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Tradeweb Markets Inc
Exchange NASDAQ | Headquaters New York, NY, United States | ||
IPO Launch date 2019-04-04 | CEO & Director Mr. William E. Hult | ||
Sector Financial Services | Industry Capital Markets | Full time employees 1412 | Website https://www.tradeweb.com |
Full time employees 1412 | Website https://www.tradeweb.com |
Tradeweb Markets Inc., together with its subsidiaries, builds and operates electronic marketplaces worldwide. The company's marketplaces facilitate trading in a range of asset classes, including rates, credit, money markets, and equities. It offers pre-trade data and analytics, trade execution, and trade processing, as well as post-trade data, analytics, and reporting services. The company provides flexible order and trading systems to institutional investors. It also offers a range of electronic, voice, and hybrid platforms to dealers and financial institutions on electronic or hybrid markets with Dealerweb platform; and trading solutions for financial advisory firms and traders with Tradeweb Direct platform. The company serves in the institutional, wholesale, and retail client sectors. Its customers include asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, and regional dealers. The company was founded in 1996 and is headquartered in New York, New York. Tradeweb Markets Inc. operates as a subsidiary of Refinitiv Parent Limited.

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