TW's Quality Score rose 1 point on Tue, Nov 10, to 19. Trading was quieter than usual.
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At its Nov 9, 2026 high.
“The increase was primarily due to increased LSEG market data fees”
| Free cash flow nearly doubled | $609.6M → $1.13B in 3 years |
| Latest filing | 8-K, Oct 29 |
After its last 4 reports it closed +0.8% on average, higher 2 of 4 times.
Excellentfor quality, not price, 10 of 14 chart checks firingWhat the Quality Score means
TW is #2 of 9 by Quality Score.
| Rank | Stock | Quality Score |
|---|---|---|
| 1 | ||
| 2 | ||
| 3 | ||
| Open for its score | ||
| Open for its score |
Sales over four quarters against a year before: TW +14%, BGC +23%.
Expected to report Thu Feb 4, before the open (in 86 days).
What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.
Revenue of $584.5M, 15% more than a year ago; a profit of $0.94 a share, from $0.86.
“Market Data – Revenues of $36.9 million in the third quarter of 2026 increased 19.6% compared to prior year period (increased 19.7% on a constant currency basis), primarily due to amendments to our LSEG market data license agreement which were effective as of November 2025.”
| Line | Q3 2026 | Q2 2026 | Q3 2025 |
|---|---|---|---|
| Transaction Fee Revenue | $492M | $465M | $421M |
Each quarter's sales and their share of its total. Figures as filed (SEC filing, Oct 29)
| Measure | Figure |
|---|---|
| Adjusted expenses | $1,155.00 |
“Third quarter 2026 other income was primarily due to the reclassification of $27.5 million of unrealized gains from accumulated other comprehensive income into other income upon the July 1, 2026 conversion of our holding of a convertible note into publicly traded common shares of Securitize and $14.4 million in unrealized gains on a minority equity investment, partially offset by a $24.0 million unrealized loss relating to a decrease in fair value of our Canton Coin holdings.”
From its results filing (SEC filing · Oct 29)
Sales grew 18% a year over 5 years, fiscal 2020 to 2025.
Pays $0.56 a share a year.
| Reported | Gap | Reaction | 5 days |
|---|---|---|---|
| Oct 29, 2026 | -1.4% | -0.8% | +6.0% |
| Jul 30, 2026 | -7.6% | -9.6% | -5.4% |
| Apr 29, 2026 | -4.0% | +5.1% | -1.9% |
Sales grew every year from 2019 to 2025, to $2.1B. It made a profit in each of the seven years.
RSI 79.7, MACD above signal, above both averages. Not scored.
One insider sold $2.3M across 2 filings in the last 6 months. No open-market buys on record. The newest:
One trade disclosed in the last six months. The newest:
Officers and directors with a Form 4 in the last 12 months.
In ETFs: TW is under 0.1% of SCHG and under 0.1% of VTI, the most of the 24 funds Breakaway covers, by each fund's latest filing, Jun 30 to Aug 31, 2026.
Founded in 1997 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. It offers electronic processing for some voice-negotiated trades, but it primarily provides electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in US and European government debt, mortgage-backed securities, interest rate swaps, and US and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with LSEG.
“The markets for our solutions continue to evolve and are competitive in the asset classes, products and geographies in which we operate.”
TW scores 19 today, which Breakaway calls Excellent. It is #2 of 9 in Security & Commodity Brokers, Dealers, Exchanges & Services by Quality Score, with 10 of 14 chart checks firing. At its Nov 9, 2026 high. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.
TW scores 19 today, which Breakaway calls Excellent (15 to 19). That is #2 of 9 in Security & Commodity Brokers, Dealers, Exchanges & Services by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind TW's 19.
One insider sold $2.3M across 2 filings in the last 6 months. No open-market buys on record. The newest is Enrico Bruni, MD, Co-Head of Global Markets, who sold $1.6M on Nov 3. Every filing, with the scored weight, for Pro members.
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Insider and Congress trades, the chart, and the financials, in one score.
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