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Tradeweb Markets (TW) Revenue & Revenue Breakdown

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Tradeweb Markets Revenue Highlights

Latest Revenue (Y)

$2.05B

Latest Revenue (Q)

$508.60M

Main Segment (Y)

Transaction Fee Revenue

Main Geography (Y)

UNITED STATES

Tradeweb Markets Revenue by Period

Tradeweb Markets Revenue by Year

DateRevenueChange
2025-12-31$2.05B18.92%
2024-12-31$1.73B28.97%
2023-12-31$1.34B12.57%
2022-12-31$1.19B10.44%
2021-12-31$1.08B20.59%
2020-12-31$892.66M15.10%
2019-12-31$775.57M17.94%
2018-12-31$657.58M30.36%
2017-12-31$504.45M2.49%
2016-12-31$492.18M-

Tradeweb Markets generated $2.05B in revenue during NA 2025, up 18.92% compared to the previous quarter, and up 229.92% compared to the same period a year ago.

Tradeweb Markets Revenue by Quarter

DateRevenueChange
2025-09-30$508.60M-0.85%
2025-06-30$512.97M0.65%
2025-03-31$509.68M10.00%
2024-12-31$463.34M3.21%
2024-09-30$448.92M10.86%
2024-06-30$404.95M-0.93%
2024-03-31$408.74M10.47%
2023-12-31$370.00M12.68%
2023-09-30$328.36M5.71%
2023-06-30$310.61M-5.66%
2023-03-31$329.25M12.36%
2022-12-31$293.04M2.06%
2022-09-30$287.12M-3.37%
2022-06-30$297.14M-4.61%
2022-03-31$311.49M12.50%
2021-12-31$276.88M4.36%
2021-09-30$265.32M1.72%
2021-06-30$260.84M-4.59%
2021-03-31$273.40M17.30%
2020-12-31$233.08M9.67%
2020-09-30$212.52M0.33%
2020-06-30$211.82M-9.98%
2020-03-31$235.31M19.26%
2019-12-31$197.31M-2.14%
2019-09-30$201.62M5.75%
2019-06-30$190.66M1.60%
2019-03-31$187.65M5.05%
2018-12-31$178.64M6.46%
2018-09-30$167.79M10.59%
2018-06-30$151.72M-4.84%
2018-03-31$159.43M11.18%
2017-12-31$143.40M-

Tradeweb Markets generated $508.60M in revenue during Q3 2025, up -0.85% compared to the previous quarter, and up 125.59% compared to the same period a year ago.

Tradeweb Markets Revenue Breakdown

Tradeweb Markets Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 25Dec 24Dec 23Dec 20Dec 19
Financial Service, Other$24.79M$13.60M$11.57M--
Subscription Fee Revenue$234.02M$206.66M$183.97M$142.36M$138.73M
Transaction Fee Revenue$1.70B$1.42B$1.08B--
Market Data Revenue$93.20M$82.14M$64.34M$59.71M$55.63M

Tradeweb Markets's latest annual revenue breakdown by segment (product or service), as of Dec 25: Transaction Fee Revenue (82.85%), Subscription Fee Revenue (11.40%), Market Data Revenue (4.54%), and Financial Service, Other (1.21%).

Quarterly Revenue by Product

Product/ServiceDec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Dec 23Sep 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20
Transaction Fee Revenue$428.01M$421.31M$429.77M$421.34M$719.58M$373.49M$330.48M$814.86M$263.49M-----------
Subscription Fee Revenue$60.02M$60.83M$57.39M$55.78M$104.71M$51.21M$50.75M$137.61M$46.36M$41.59M$41.34M$41.54M$41.45M$41.31M$41.39M$37.88M$37.87M$36.65M$36.22M$35.01M
Market Data Revenue$23.17M$20.53M$20.57M$28.93M$41.05M$20.51M$20.58M$48.88M$15.46M$16.12M$15.00M$14.93M$15.12M$16.24M$14.27M$14.56M----
Financial Service, Other$9.99M$5.92M$5.24M$3.63M$6.75M$3.70M$3.15M$8.52M$3.05M-----------

Tradeweb Markets's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Transaction Fee Revenue (82.12%), Subscription Fee Revenue (11.52%), Market Data Revenue (4.45%), and Financial Service, Other (1.92%).

Tradeweb Markets Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 25Dec 24Dec 23Dec 22Dec 21
Non-US$858.37M$665.25M$487.88M$428.14M$403.22M
UNITED STATES$1.19B$1.06B$850.34M$760.64M$673.22M

Tradeweb Markets's latest annual revenue breakdown by geography, as of Dec 25: UNITED STATES (58.18%), and Non-US (41.82%).

Quarterly Revenue by Country

CountryDec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
UNITED STATES$300.94M$297.44M$297.80M$297.88M$528.85M$279.70M$252.14M$232.88M$207.84M$200.92M$208.70M$195.10M$185.10M$190.15M$190.29M$175.61M$166.27M$163.60M$167.74M$147.95M
Non-US$220.24M$211.16M$215.17M$211.80M$343.24M$169.21M$152.81M$137.13M$120.52M$109.69M$120.55M$97.94M$102.02M$106.99M$121.19M$101.27M$99.06M$97.23M$105.66M$85.13M

Tradeweb Markets's latest quarterly revenue breakdown by geography, as of Dec 25: UNITED STATES (57.74%), and Non-US (42.26%).

Tradeweb Markets Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
NMRNomura$4.16T$1.17T
LPLALPL Financial$16.99B$4.55B
FCNCAFirst Citizens BancShares$14.50B$3.68B
HBANHuntington Bancshares$12.48B$3.23B
CFGCitizens Financial Group$11.15B$2.12B
RFRegions Financial$9.61B$3.02B
FUTUFutu$9.10B$3.44B
TROWT. Rowe Price Group$7.31B$1.89B
TWTradeweb Markets$2.05B$508.60M

TW Revenue FAQ

What is Tradeweb Markets’s yearly revenue?

Tradeweb Markets's yearly revenue for 2025 was $2.05B, representing an increase of 18.92% compared to 2024. The company's yearly revenue for 2024 was $1.73B, representing an increase of 28.97% compared to 2023. TW's yearly revenue for 2023 was $1.34B, representing an increase of 12.57% compared to 2022.

What is Tradeweb Markets’s quarterly revenue?

Tradeweb Markets's quarterly revenue for Q3 2025 was $508.6M, a -0.85% decrease from the previous quarter (Q2 2025), and a 13.29% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $512.97M, a 0.65% increase from the previous quarter (Q1 2025), and a 26.67% increase year-over-year (Q2 2024). TW's quarterly revenue for Q1 2025 was $509.68M, a 10.00% increase from the previous quarter (Q4 2024), and a 24.69% increase year-over-year (Q1 2024).

What is Tradeweb Markets’s revenue growth rate?

Tradeweb Markets's revenue growth rate for the last 3 years (2023-2025) was 53.37%, and for the last 5 years (2021-2025) was 90.67%.

What are Tradeweb Markets’s revenue streams?

Tradeweb Markets's revenue streams in c 25 are Financial Service, Other, Subscription Fee Revenue, Transaction Fee Revenue, and Market Data Revenue. Financial Service, Other generated $24.79M in revenue, accounting 1.21% of the company's total revenue, up 82.29% year-over-year. Subscription Fee Revenue generated $234.02M in revenue, accounting 11.40% of the company's total revenue, up 13.24% year-over-year. Transaction Fee Revenue generated $1.7B in revenue, accounting 82.85% of the company's total revenue, up 19.45% year-over-year. Market Data Revenue generated $93.2M in revenue, accounting 4.54% of the company's total revenue, up 13.45% year-over-year.

What is Tradeweb Markets’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Tradeweb Markets was Transaction Fee Revenue. This segment made a revenue of $1.7B, representing 82.85% of the company's total revenue.