Filing Flows › Tradeweb Markets (TW) › Operating margin
Tradeweb Markets (TW) operating margin by quarter
Tradeweb Markets' operating margin was 43.4% in Q3 2026 (third quarter 2026), -0.5 pts from Q2 2026. Over the last 7 quarters it ranged from 39.0% (Q2 2025) to 46.5% (Q1 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 43.4% | -0.5 pts | +2.0 pts |
| Q2 2026 | 43.9% | -2.6 pts | +4.9 pts |
| Q1 2026 | 46.5% | +4.1 pts | +6.5 pts |
| Q4 2025 | 42.4% | +1.0 pts | — |
| Q3 2025 | 41.4% | +2.4 pts | — |
| Q2 2025 | 39.0% | -1.1 pts | — |
| Q1 2025 | 40.0% | — | — |
Q3 2026 at a glance
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
What is Tradeweb Markets' operating margin?
Tradeweb Markets' operating margin was 43.4% in Q3 2026 (third quarter 2026), -0.5 pts from Q2 2026.
How has Tradeweb Markets' operating margin changed?
Over the last 7 quarters it ranged from 39.0% (Q2 2025) to 46.5% (Q1 2026).