Tradeweb Markets Inc (TW) Fair Value & Analysis

Financial Services · US · Market cap $21.8B

A solid business, but screening 59% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($53.00). The favourable scenario is already priced in.
• Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range $51.40 – $148.21 · fair‑value band $31.80 – $53.00 · the $103.32 price screens above the $42.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Tradeweb Markets Inc (TW) currently trades at $103.32, while our model-based Fair Value estimate is $42.40, implying the stock looks roughly 59.0% overvalued today. We read business quality at 65/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Tradeweb Markets Inc generated revenue of $2.2B at a net margin of 40.3%. Revenue grew 21.2% year over year. It earns a return on equity of 14.2%. The balance sheet holds a net cash position of $1.8B. Fundamentals as of Jul 19, 2026

Our scenario range runs from $31.80 (bear case) to $53.00 (bull case); at $103.32, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -59%, TW screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples ($64.30) versus Dividend Discount ($7.67). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Tradeweb Markets Inc. builds and operates electronic marketplaces in the United States and internationally. The company offers marketplaces that facilitate trading products across various asset classes, including rates, credit, equities, and money markets.

Full company description

Tradeweb Markets Inc. builds and operates electronic marketplaces in the United States and internationally. The company offers marketplaces that facilitate trading products across various asset classes, including rates, credit, equities, and money markets. It also provides pre-trade data and analytics, such as AI-Price, SNAP+, iNAV for ETFs, integrations, and LSEG market data; and trade execution comprising request-for-quote, request-for-market, request-for-stream, list trading, compression, blast all-to-all, click-to-trade, portfolio trading, session-based, central limit order book, bilateral firm streams, inventory-based, rematch, voice, futures vs. cash spreading, and dealer algorithmic suite. In addition, the company offers trade processing; and post-trade data, analytics, and reporting, which include transaction cost analysis, benchmark prices, and APA. It serves institutional, wholesale, retail, and corporate clients, such as asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, regional dealers, and corporations. The company was founded in 1996 and is headquartered in New York, New York. Tradeweb Markets Inc. is a subsidiary of Refinitiv Parent Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tradeweb Markets Inc reported revenue of $2.1B in FY2025 versus $1.1B in FY2021, a compound +17.5%/yr. Reported net income was $813M in FY2025, compounding +37.6%/yr from FY2021.

TW screens 59% overvalued. Compare with Huatai Securities Co →

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

• Why Tradeweb Markets (TW) Shares Are Getting Obliterated Today Yahoo Finance · Jul 31, 2026
• Tradeweb Markets Inc (TW) (Q2 2026) Earnings Call Highlights: Record Market Share Gains and ... Yahoo Finance · Jul 30, 2026
• Here's What Key Metrics Tell Us About Tradeweb (TW) Q2 Earnings Yahoo Finance · Jul 30, 2026
• Tradeweb Markets (TW) Surpasses Q2 Earnings Estimates Yahoo Finance · Jul 30, 2026

Peer Group

Capital Markets · 424 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Capital Markets median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.