Tradeweb Markets Inc. (TW) FY2026 Q2 P&L / Income Statement

2026-04-01 to 2026-06-30

Swipe to see the full flow
Tradeweb Markets Inc. (TW) FY2026 Q2 P&L / Income StatementIncome statement for 2026-04-01 through 2026-06-30. View: Contract with Customer, Basis of Pricing. Revenue uses this breakdown; costs and expenses retain the consolidated categories.SOURCESREVENUEOPERATINGPRE-TAXNETVariableFixedTotal revenueOperating incomeTotal expensesEmployee compensation and benefitsDepreciation and amortizationTechnology and communicationsGeneral and administrativeProfessional feesOccupancyOther income (expense), net (calculated)Income before taxesNet incomeProvision for income taxesOther income (expense), net (calculated)Other income,net (calculated)$24.92 MIncome before taxesIncome before taxes$270.19 MTotal revenueTotal revenue$558.95 MOperating incomeOperating income$245.26 MNet incomeNet income$206.69 MVariableVariable$417.16 MTotal expensesTotal expenses$313.68 MProvision for income taxesProvision forincome taxes$63.50 MEmployee compensation and benefitsEmployee compensationand benefits$172.46 MFixedFixed$141.79 MDepreciation and amortizationDepreciation and amortization$61.49 MTechnology and communicationsTechnology and communications$41.98 MGeneral and administrativeGeneral and administrative$16.62 MProfessional feesProfessional fees$12.77 MOccupancyOccupancy$8.38 M
Chart details

Tradeweb Markets Inc. (TW) FY2026 Q2 P&L / Income Statement

Income statement for 2026-04-01 through 2026-06-30. View: Contract with Customer, Basis of Pricing. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

Total revenue
558,946,000 US dollars
Total expenses
313,684,000 US dollars
Operating income
245,262,000 US dollars
Other income (expense), net (calculated)
24,924,000 US dollars
Income before taxes
270,186,000 US dollars
Provision for income taxes
63,500,000 US dollars
Net income
206,686,000 US dollars
Variable
417,160,000 US dollars
Fixed
141,786,000 US dollars
Employee compensation and benefits
172,462,000 US dollars
Depreciation and amortization
61,487,000 US dollars
Technology and communications
41,976,000 US dollars
General and administrative
16,616,000 US dollars
Professional fees
12,765,000 US dollars
Occupancy
8,378,000 US dollars

Chart connections

  • Revenue minus operating expenses equals operating income.
  • Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
  • Of which attributable to Tradeweb Markets Inc.: $181.32 M; to noncontrolling interests: $25.37 M.
Tradeweb Markets Inc. (TW) FY2026 Q2 Revenue by Basis of Pricing Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Operating margin

43.9%

Operating profit / revenue

Cash conversion

190.7%

Operating cash / net income, same period

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!