Update shared on20 Oct 2025
Fair value Decreased 8.91%Narrative Update on Tradeweb Markets
Analysts have lowered their fair value estimate for Tradeweb Markets from $147.47 to $134.33. This change reflects reduced revenue growth expectations and a slightly lower discount rate in their updated forecasts.
What's in the News
- Tradeweb expanded its dealer algorithmic execution capabilities for U.S. Treasuries, enabling institutional clients to access deeper liquidity and smarter execution strategies through its comprehensive dealer algo suite. J.P. Morgan and Morgan Stanley are among the first to leverage these functionalities. Additional global dealers will be onboarded soon. (Key Developments)
- For September 2025, Tradeweb reported record total trading volume of $63.7 trillion and average daily volume (ADV) of $2.9 trillion, up 10.0% year-over-year. In the third quarter of 2025, total trading volume reached $172.8 trillion and ADV was $2.6 trillion, an 11.8% increase year-over-year. (Key Developments)
- In July 2025, the company achieved a total trading volume of $55.0 trillion and an ADV of $2.4 trillion, showing a 30.7% year-over-year increase, or 17.2% excluding the ICD acquisition. (Key Developments)
- Between April 1 and June 30, 2025, Tradeweb completed the repurchase of 1,351,843 shares, totaling $120.1 million, as part of its ongoing buyback program. (Key Developments)
Valuation Changes
- Fair Value Estimate decreased from $147.47 to $134.33, reflecting lower analyst expectations.
- Discount Rate reduced slightly from 8.08% to 8.02%.
- Revenue Growth was modestly lowered from 10.64% to 10.40%.
- Net Profit Margin edged up marginally from 35.08% to 35.12%.
- Future P/E Ratio dropped from 43.42x to 39.68x, indicating improved valuation relative to forecasted earnings.
Disclaimer
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