Filing Flows › Tradeweb Markets (TW) › Guidance history
Tradeweb Markets (TW) guidance history: what it guided and what it reported
Tradeweb Markets gave guidance in 11 earnings releases on file since Feb 6, 2024.
Adjusted tax rate
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 23.5%–24.5% (Feb 5, 2026) → reaffirmed 23.5%–24.5% (Jul 30, 2026) | — | to be reported | — |
| FY2025 | 24.5%–25.5% (Feb 6, 2025) → reaffirmed 24.5%–25.5% (Apr 30, 2025) | — | — | — |
| FY2024 | 24.5%–25.5% (Feb 6, 2024) | — | — | — |
Depreciation & amortization
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $160M (Feb 5, 2026) → reaffirmed $160M (Jul 30, 2026) | — | to be reported | — |
| FY2025 | $176M (Feb 6, 2025) → reaffirmed $176M (Apr 30, 2025) | — | — | — |
| FY2024 | $142M (Feb 6, 2024) | — | — | — |
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2024 | $75.0M–$83.0M (Feb 6, 2024) | $41.0M (GAAP) | not judged | — |
The latest quarter
Tradeweb Markets, Q3 2026: revenue $585M (+15% year over year), operating margin 43.4%, net earnings $197M, operating cash flow $347M. The chart follows the revenue to costs, profit and cash.
Questions
Does Tradeweb Markets beat its guidance?
Tradeweb Markets gave guidance in 11 earnings releases on file since Feb 6, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.