company background image
TW

Tradeweb MarketsNasdaqGS:TW Stock Report

Last Price

US$91.00

Market Cap

US$21.2b

7D

-3.3%

1Y

39.2%

Updated

19 Jan, 2022

Data

Company Financials +
TW fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance4/6
Financial Health6/6
Dividends0/6

TW Stock Overview

Tradeweb Markets Inc. builds and operates electronic marketplaces in the Americas, Europe, the Middle East, Africa, Asia Pacific, and internationally.

Tradeweb Markets Competitors

CME Group

NasdaqGS:CME

US$82.5b

Intercontinental Exchange

NYSE:ICE

US$70.9b

Nasdaq

NasdaqGS:NDAQ

US$30.3b

IHS Markit

NYSE:INFO

US$47.5b

Price History & Performance

Summary of all time highs, changes and price drops for Tradeweb Markets
Historical stock prices
Current Share PriceUS$91.00
52 Week HighUS$102.33
52 Week LowUS$59.35
Beta0.83
1 Month Change-3.24%
3 Month Change7.62%
1 Year Change39.17%
3 Year Changen/a
5 Year Changen/a
Change since IPO154.12%

Recent News & Updates

Shareholder Returns

TWUS Capital MarketsUS Market
7D-3.3%-5.5%-4.6%
1Y39.2%24.6%7.7%

Return vs Industry: TW exceeded the US Capital Markets industry which returned 25.7% over the past year.

Return vs Market: TW exceeded the US Market which returned 10.2% over the past year.

Price Volatility

Is TW's price volatile compared to industry and market?
TW volatility
TW Average Weekly Movement3.2%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: TW is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: TW's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1996961Lee Oleskyhttps://www.tradeweb.com

Tradeweb Markets Inc. builds and operates electronic marketplaces in the Americas, Europe, the Middle East, Africa, Asia Pacific, and internationally. 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.

Tradeweb Markets Fundamentals Summary

How do Tradeweb Markets's earnings and revenue compare to its market cap?
TW fundamental statistics
Market CapUS$21.17b
Earnings (TTM)US$233.00m
Revenue (TTM)US$1.03b

90.8x

P/E Ratio

20.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TW income statement (TTM)
RevenueUS$1.03b
Cost of RevenueUS$55.35m
Gross ProfitUS$975.79m
ExpensesUS$742.80m
EarningsUS$233.00m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 03, 2022

Earnings per share (EPS)1.00
Gross Margin94.63%
Net Profit Margin22.60%
Debt/Equity Ratio0%

How did TW perform over the long term?

See historical performance and comparison

Dividends

0.4%

Current Dividend Yield

27%

Payout Ratio

Valuation

Is Tradeweb Markets undervalued compared to its fair value and its price relative to the market?

90.84x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TW ($91) is trading above our estimate of fair value ($43.48)

Significantly Below Fair Value: TW is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TW is poor value based on its PE Ratio (90.8x) compared to the US Capital Markets industry average (15.5x).

PE vs Market: TW is poor value based on its PE Ratio (90.8x) compared to the US market (17x).


Price to Earnings Growth Ratio

PEG Ratio: TW is poor value based on its PEG Ratio (6.9x)


Price to Book Ratio

PB vs Industry: TW is good value based on its PB Ratio (4.6x) compared to the US Capital Markets industry average (42.2x).


Future Growth

How is Tradeweb Markets forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

13.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TW's forecast earnings growth (13.1% per year) is above the savings rate (2%).

Earnings vs Market: TW's earnings (13.1% per year) are forecast to grow faster than the US market (13% per year).

High Growth Earnings: TW's earnings are forecast to grow, but not significantly.

Revenue vs Market: TW's revenue (8.9% per year) is forecast to grow slower than the US market (9.2% per year).

High Growth Revenue: TW's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TW's Return on Equity is forecast to be low in 3 years time (9.5%).


Past Performance

How has Tradeweb Markets performed over the past 5 years?

19.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TW has high quality earnings.

Growing Profit Margin: TW's current net profit margins (22.6%) are higher than last year (17.8%).


Past Earnings Growth Analysis

Earnings Trend: TW's earnings have grown by 19.5% per year over the past 5 years.

Accelerating Growth: TW's earnings growth over the past year (52.7%) exceeds its 5-year average (19.5% per year).

Earnings vs Industry: TW earnings growth over the past year (52.7%) underperformed the Capital Markets industry 86.4%.


Return on Equity

High ROE: TW's Return on Equity (5.3%) is considered low.


Financial Health

How is Tradeweb Markets's financial position?


Financial Position Analysis

Short Term Liabilities: TW's short term assets ($1.0B) exceed its short term liabilities ($188.9M).

Long Term Liabilities: TW's short term assets ($1.0B) exceed its long term liabilities ($499.3M).


Debt to Equity History and Analysis

Debt Level: TW is debt free.

Reducing Debt: TW had no debt 5 years ago.

Debt Coverage: TW has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TW has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Tradeweb Markets's current dividend yield, its reliability and sustainability?

0.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TW's dividend (0.35%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: TW's dividend (0.35%) is low compared to the top 25% of dividend payers in the US market (3.48%).


Stability and Growth of Payments

Stable Dividend: TW is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: TW is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: TW is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TW's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Lee Olesky (59 yo)

3.17yrs

Tenure

US$12,312,994

Compensation

Mr. Lee Olesky co-founded Tradeweb Markets LLC and serves as its Chief Executive Officer since September 2008. He is Chief Executive Officer and Director of Tradeweb Markets Inc. since November 7, 2018. He...


CEO Compensation Analysis

Compensation vs Market: Lee's total compensation ($USD12.31M) is about average for companies of similar size in the US market ($USD11.29M).

Compensation vs Earnings: Lee's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: TW's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: TW's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.2%.


Top Shareholders

Company Information

Tradeweb Markets Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Tradeweb Markets Inc.
  • Ticker: TW
  • Exchange: NasdaqGS
  • Founded: 1996
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Implied Market Cap: US$21.167b
  • Market Cap: US$18.388b
  • Shares outstanding: 232.59m
  • Website: https://www.tradeweb.com

Number of Employees


Location

  • Tradeweb Markets Inc.
  • 1177 Avenue of the Americas
  • New York
  • New York
  • 10036
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:40
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.