Tradeweb Markets annual operating expenses
2019
2020
2021
2022
2023
2024
2025
Tradeweb Markets Operating Expenses Growth & History (TW)
Tradeweb Markets's operating expenses was $1.22B for fiscal 2025.
View full Tradeweb Markets company overviewTradeweb Markets annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.22B | $169.2M | +16.14% |
| 2024 | 2024-12-31 | $1.05B | $215.0M | +25.81% |
| 2023 | 2023-12-31 | $833.0M | $56.7M | +7.31% |
| 2022 | 2022-12-31 | $776.2M | $58.6M | +8.16% |
| 2021 | 2021-12-31 | $717.6M | $88.3M | +14.03% |
| 2020 | 2020-12-31 | $629.3M | $43.6M | +7.44% |
| 2019 | 2019-12-31 | $585.7M | — | — |
Tradeweb Markets quarterly operating expenses
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $313.7M | $566,000 | +0.18% |
| Q1 2026 | 2026-03-31 | $330.5M | $24.9M | +8.16% |
| Q4 2025 | 2025-12-31 | $300.2M | $25.4M | +9.23% |
| Q3 2025 | 2025-09-30 | $298.2M | $8.6M | +2.98% |
| Q2 2025 | 2025-06-30 | $313.1M | $70.7M | +29.14% |
| Q1 2025 | 2025-03-31 | $305.6M | $64.5M | +26.76% |
| Q4 2024 | 2024-12-31 | $274.8M | $46.4M | +20.33% |
| Q3 2024 | 2024-09-30 | $289.6M | $86.0M | +42.23% |
| Q2 2024 | 2024-06-30 | $242.5M | $48.2M | +24.80% |
| Q1 2024 | 2024-03-31 | $241.1M | $34.4M | +16.63% |
| Q4 2023 | 2023-12-31 | $228.4M | $26.9M | +13.34% |
| Q3 2023 | 2023-09-30 | $203.6M | $19.3M | +10.48% |
| Q2 2023 | 2023-06-30 | $194.3M | $3.7M | +1.97% |
| Q1 2023 | 2023-03-31 | $206.7M | $6.8M | +3.40% |
| Q4 2022 | 2022-12-31 | $201.5M | $15.8M | +8.50% |
| Q3 2022 | 2022-09-30 | $184.3M | $4.5M | +2.51% |
| Q2 2022 | 2022-06-30 | $190.5M | $13.5M | +7.62% |
| Q1 2022 | 2022-03-31 | $199.9M | $24.8M | +14.17% |
| Q4 2021 | 2021-12-31 | $185.7M | $24.2M | +14.99% |
| Q3 2021 | 2021-09-30 | $179.8M | $25.4M | +16.49% |
| Q2 2021 | 2021-06-30 | $177.0M | $20.6M | +13.15% |
| Q1 2021 | 2021-03-31 | $175.1M | $18.1M | +11.52% |
| Q4 2020 | 2020-12-31 | $161.5M | $18.5M | +12.95% |
| Q3 2020 | 2020-09-30 | $154.3M | $11.6M | +8.15% |
| Q2 2020 | 2020-06-30 | $156.5M | −$3.1M | −1.92% |
| Q1 2020 | 2020-03-31 | $157.0M | $16.5M | +11.73% |
| Q4 2019 | 2019-12-31 | $143.0M | −$3.7M | −2.54% |
| Q3 2019 | 2019-09-30 | $142.7M | — | — |
| Q2 2019 | 2019-06-30 | $159.5M | — | — |
| Q1 2019 | 2019-03-31 | $140.5M | — | — |
| Q4 2018 | 2018-12-31 | $146.7M | — | — |
Tradeweb Markets operating expenses trends
Over the last five fiscal years, Tradeweb Markets's operating expenses increased from $629.3M to $1.22B, a change of $587.8M. The latest reported quarter, Q2 2026, shows $313.7M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Tradeweb Markets source filings ↗