Electronic trading platform Tradeweb Markets (NASDAQ: TW) beat Wall Street’s revenue expectations in Q3 CY2025, with sales up 13.3% year on year to $508.6 million. Its non-GAAP profit of $0.87 per share was 4.9% above analysts’ consensus estimates.
Is now the time to buy Tradeweb Markets? Find out by accessing our full research report, it’s free for active Edge members.
Tradeweb Markets (TW) Q3 CY2025 Highlights:
- Revenue: $508.6 million vs analyst estimates of $503.5 million (13.3% year-on-year growth, 1% beat)
- Pre-tax Profit: $269.6 million (53% margin, 55.2% year-on-year growth)
- Adjusted EPS: $0.87 vs analyst estimates of $0.83 (4.9% beat)
- Market Capitalization: $22.5 billion
Company Overview
Founded in 1996 as one of the pioneers in electronic bond trading, Tradeweb Markets (NASDAQ: TW) builds and operates electronic marketplaces that connect financial institutions for trading across rates, credit, equities, and money markets.
Revenue Growth
A company’s long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Over the last five years, Tradeweb Markets grew its revenue at an excellent 18.4% compounded annual growth rate. Its growth surpassed the average financials company and shows its offerings resonate with customers, a great starting point for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Tradeweb Markets’s annualized revenue growth of 25.8% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Tradeweb Markets reported year-on-year revenue growth of 13.3%, and its $508.6 million of revenue exceeded Wall Street’s estimates by 1%.
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Key Takeaways from Tradeweb Markets’s Q3 Results
It was good to see Tradeweb Markets beat analysts’ EPS expectations this quarter. We were also happy its revenue narrowly outperformed Wall Street’s estimates. Overall, this print had some key positives. The stock traded up 1.5% to $107 immediately after reporting.
Big picture, is Tradeweb Markets a buy here and now? We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
