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Tradeweb Markets vs Streamex: TW and STEX compared
Tradeweb Markets is the larger company: $585M of revenue in its latest quarter (Q3 2026) against $146K for Streamex (Q2 2026).
Where the money goes: TW and STEX
Tradeweb Markets (TW) · Q3 2026
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.
Streamex (STEX) · Q2 2026
Streamex, Q2 2026: revenue $146K, net loss $14.6M, operating cash flow −$11.7M. The chart follows the revenue to costs, profit and cash.
| Tradeweb Markets (TW) | Streamex (STEX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $585M | $146K |
| Revenue growth, Y/Y | +15% | — |
| Operating margin | 43.4% | n/m |
| Net earnings | $197M | −$14.6M |
| Net margin | 33.8% | — |
| Operating cash flow | $347M | −$11.7M |
| Free cash flow | $338M | — |
| Market value | $26.9B | — |
| P/E | 29.9× | — |
| Analysts’ mean target | $131.53 | — |
Where the revenue comes from
Tradeweb Markets
- Transaction fees and commissions: $492M (84%)
- Subscription fees: $61.4M (11%)
- LSEG market data fees: $26.5M (5%)
- Other: $4.8M (1%)
Questions
Which is bigger, Tradeweb Markets or Streamex?
Tradeweb Markets is the larger company: $585M of revenue in its latest quarter (Q3 2026) against $146K for Streamex (Q2 2026).
More: Tradeweb Markets earnings · how Tradeweb Markets makes money · Streamex earnings · how Streamex makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Aug 14, 2026). Fiscal quarters can end on different dates. Not investment advice.