Tradeweb Markets Inc. (TW)
Tradeweb Markets Inc. (TW)
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Total revenue | 617,764 | 521,183 | 508,598 | NaN |
| Employee compensation and benefits | 197,793 | 159,268 | 164,993 | NaN |
| Technology and communications | 39,549 | 35,520 | 33,867 | NaN |
| General and administrative | 11,944 | 21,786 | 16,892 | NaN |
| Professional fees | 12,324 | 15,291 | 11,483 | NaN |
| Occupancy | 8,192 | 8,214 | 6,641 | NaN |
| Other segment items | 114,795 | -86,020 | 64,173 | NaN |
| Net income | 233,167 | 367,124 | 210,549 | 343,827 |
| Depreciation and amortization | 60,709 | 60,091 | 64,351 | 125,747 |
| Stock-based compensation expense | 25,060 | 28,305 | 26,136 | 49,096 |
| Digital assets received as revenue | 3,669 | 10,947 | NaN | NaN |
| Deferred taxes | 21,408 | 68,699 | 8,855 | 14,764 |
| Tax receivable agreement liability adjustment | NaN | 9,786 | 0 | NaN |
| Other (income) loss, net | -1,156 | 207,078 | 39,420 | 16,886 |
| Receivable from/payable to brokers and dealers and clearing organizations, net | -4,666 | -6,711 | 11,602 | 387 |
| Deposits with clearing organizations | -864 | -6,671 | -1,914 | 11,916 |
| Accounts receivable | 95,857 | -13,613 | 8,426 | 35,246 |
| Receivable and due from related parties/payable and due to related parties, net | -7,426 | 16,349 | -1,448 | -20,633 |
| Deferred tax asset as a result of transferable tax credit purchase | 0 | -6,211 | 0 | -17,646 |
| Other assets | 8,829 | -5,248 | -9,037 | 30,786 |
| Securities sold under agreements to repurchase | NaN | 0 | 0 | 0 |
| Accrued compensation | -141,244 | 39,635 | 52,553 | -67,499 |
| Deferred revenue | 25,347 | -7,265 | -4,272 | 9,505 |
| Accounts payable, accrued expenses and other liabilities | -26,375 | 5,066 | 31,180 | 50,896 |
| Net cash provided by operating activities | 103,829 | 355,949 | 342,303 | 469,394 |
| Cash paid for acquisitions, net of cash acquired | NaN | 0 | 0 | 0 |
| Cash paid for foreign currency call option, net of sale proceeds | NaN | 0 | NaN | NaN |
| Cash paid for investments | 50,191 | 0 | 18,440 | 20,000 |
| Cash received from sale of digital assets | NaN | 0 | 15,000 | NaN |
| Purchases of furniture, equipment, software and leasehold improvements | 9,596 | 19,411 | 14,031 | 7,110 |
| Capitalized software development costs | 17,514 | 15,397 | 17,380 | 29,764 |
| Net cash used in investing activities | -77,301 | -34,808 | -34,851 | -56,874 |
| Share repurchases pursuant to share repurchase programs | 53,331 | 103,329 | 0 | 844 |
| Proceeds from stock-based compensation exercises | 2,983 | 0 | 0 | 0 |
| Deferred financing costs | NaN | 0 | NaN | NaN |
| Dividends | 29,770 | 25,556 | 25,609 | 51,179 |
| Distributions to non-controlling interests | 7,646 | 10,547 | 1,630 | 12,528 |
| Payroll taxes paid for stock-based compensation | 83,659 | 523 | 1,219 | 47,766 |
| Payments on tax receivable agreement liability | 719 | 5,308 | 0 | 21,437 |
| Net cash used in financing activities | -172,142 | -145,263 | -28,458 | -133,754 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -1,824 | 939 | -1,193 | 11,053 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -147,438 | 176,817 | 277,801 | 289,819 |
| Beginning of period | 2,085,739 | -567,620 | 1,341,302 | NaN |
| End of period | 1,938,301 | 176,817 | 1,908,922 | NaN |