Tradeweb Markets Inc.

NasdaqGS:TW Stock Report

Market Cap: US$30.8b

Tradeweb Markets Valuation

Is TW undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TW ($130.33) is trading above our estimate of fair value ($70.59)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TW?

Key metric: As TW is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TW. This is calculated by dividing TW's market cap by their current earnings.
What is TW's PE Ratio?
PE Ratio62x
EarningsUS$448.26m
Market CapUS$30.81b

Price to Earnings Ratio vs Peers

How does TW's PE Ratio compare to its peers?

The above table shows the PE ratio for TW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36.6x
MSCI MSCI
39x9.5%US$46.9b
FDS FactSet Research Systems
34.6x8.1%US$18.0b
NDAQ Nasdaq
46.4x17.6%US$44.5b
CBOE Cboe Global Markets
26.2x6.7%US$20.9b
TW Tradeweb Markets
62x17.3%US$30.8b

Price-To-Earnings vs Peers: TW is expensive based on its Price-To-Earnings Ratio (62x) compared to the peer average (36.6x).

Price to Earnings Ratio vs Industry

How does TW's PE Ratio compare vs other companies in the US Capital Markets Industry?

22 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADX Adams Diversified Equity Fund
3.6xn/aUS$2.24b
CET Central Securities
4.4xn/aUS$1.29b
GAM General American Investors Company
4.1xn/aUS$1.21b
MUDS Mudrick Capital Acquisition Corporation II
3.4xn/aUS$401.64m
TW 62.0xIndustry Avg. 23.7xNo. of Companies71PE020406080100+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TW is expensive based on its Price-To-Earnings Ratio (62x) compared to the US Capital Markets industry average (23.7x).

Price to Earnings Ratio vs Fair Ratio

What is TW's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio62x
Fair PE Ratio21.8x

Price-To-Earnings vs Fair Ratio: TW is expensive based on its Price-To-Earnings Ratio (62x) compared to the estimated Fair Price-To-Earnings Ratio (21.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$130.33
US$146.13
+12.1%
14.7%US$205.00US$100.00n/a15
Dec ’25US$135.50
US$142.07
+4.8%
10.2%US$158.00US$100.00n/a15
Nov ’25US$126.90
US$141.60
+11.6%
10.3%US$158.00US$100.00n/a15
Oct ’25US$124.85
US$123.13
-1.4%
8.2%US$139.00US$100.00n/a15
Sep ’25US$118.24
US$119.93
+1.4%
8.9%US$134.00US$92.00n/a14
Aug ’25US$110.69
US$119.29
+7.8%
8.8%US$134.00US$92.00n/a14
Jul ’25US$105.08
US$115.33
+9.8%
8.0%US$130.00US$92.00n/a15
Jun ’25US$109.01
US$114.93
+5.4%
7.9%US$130.00US$92.00n/a15
May ’25US$103.89
US$113.93
+9.7%
7.6%US$125.00US$92.00n/a15
Apr ’25US$103.54
US$109.47
+5.7%
8.8%US$122.00US$91.00n/a15
Mar ’25US$104.81
US$108.47
+3.5%
9.0%US$122.00US$88.00n/a15
Feb ’25US$95.26
US$102.80
+7.9%
9.4%US$120.00US$88.00n/a15
Jan ’25US$90.88
US$98.13
+8.0%
8.2%US$109.00US$80.00n/a15
Dec ’24US$94.79
US$97.40
+2.8%
8.8%US$109.00US$80.00US$135.5015
Nov ’24US$90.48
US$95.53
+5.6%
8.6%US$109.00US$80.00US$126.9015
Oct ’24US$80.20
US$88.77
+10.7%
9.5%US$100.00US$73.00US$124.8515
Sep ’24US$86.00
US$87.84
+2.1%
9.4%US$100.00US$73.00US$118.2415
Aug ’24US$81.33
US$86.77
+6.7%
8.8%US$98.00US$73.00US$110.6915
Jul ’24US$68.48
US$83.86
+22.5%
8.3%US$95.00US$72.00US$105.0814
Jun ’24US$68.00
US$83.69
+23.1%
8.7%US$95.00US$72.00US$109.0113
May ’24US$71.88
US$83.62
+16.3%
9.2%US$95.00US$70.00US$103.8913
Apr ’24US$79.02
US$81.50
+3.1%
8.8%US$100.00US$66.00US$103.5414
Mar ’24US$71.57
US$80.14
+12.0%
7.4%US$90.00US$66.00US$104.8114
Feb ’24US$75.60
US$79.11
+4.6%
7.4%US$87.00US$66.00US$95.2614
Jan ’24US$64.93
US$74.61
+14.9%
11.5%US$87.00US$61.00US$90.8814
Dec ’23US$62.90
US$74.42
+18.3%
12.5%US$87.00US$61.00US$94.7913

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 22:44
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Tradeweb Markets Inc. is covered by 21 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Benjamin BudishBarclays
Jeremy CampbellBarclays
Craig SiegenthalerBofA Global Research