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Tradeweb Markets Inc.Stock · Finance
$106.32+$0.79 (+0.75%)as of market close, Aug 14, 2026
☾ After hours:$106.29+0.00%3:59 PM ET
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How Tradeweb Markets makes money

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How does Tradeweb Markets make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Tradeweb Markets Inc. · FY2025 · year ended 2025-12-31
Revenue$2.1BGross profit$2.1B · 100%Cost of revenue$0 · 0%Operating income$835M · 41%Operating expenses$1.2B · 59%Other opex$1.2B · 59%Pre-tax income$1.1B · 52%Other income$231M · 11%Net income$813M · 40%Income tax$253M · 12%Transaction Fee Revenue$1.7B · 83%Subscription Fee Revenue$234M · 11%Market Data Revenue$93M · 5%Financial Service Other$25M · 1%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.