COMP <GO>
TW vs CBOE // ENTERPRISE SCALE & MARKET CAP
Tradeweb Markets Inc. (NASDAQ) VS. Cboe Global Markets Inc. (CBOE) • 15-METRIC TALLY: TW 4
— CBOE 7
▲ ENTERPRISE SCALE & MARKET CAP LEADER: CBOE
LAST: $122.54 (+3.08%) • MKT CAP: $27.82B
market-cap
$27.82B
LAST: $335.53 (+6.77%) • MKT CAP: $35.14B
market-cap
$35.14B
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (TW VS. CBOE)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | TW | CBOE | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 13.60% | 26.60% | -13.00 | CBOE | /roic <GO> |
| EV/EBITDA & P/E Valuation | 30.1x | 22.5x | +7.60 | CBOE | /valuation <GO> |
| Free Cash Flow Yield | 4.05% | 4.79% | -0.74 | CBOE | /fcf-yield <GO> |
| Operating Margin | 40.70% | 31.10% | +9.60 | TW | /operating-margins <GO> |
| Net Profit Margin | 39.60% | 23.30% | +16.30 | TW | /net-margins <GO> |
| Revenue Growth (YoY) | 18.90% | 15.40% | +3.50 | TW | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.81% | -0.81 | CBOE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 9/9 | 9/9 | 0.00 | TIE | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 60.3 | 52.9 | +7.40 | TW | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 0.99 | 1.07 | -0.08 | CBOE | /macro-sensitivity <GO> |
| Forward P/E Multiple | 28.7x | 26.8x | +1.90 | CBOE | /forward-pe <GO> |
| Enterprise Scale & Market Cap ACTIVE | $27.82B | $35.14B | -$7.32B | CBOE | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | TW REV | CBOE REV | TW GROSS % | CBOE GROSS % | TW FCF | CBOE FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $2.05B | $4.71B | — | 51.5% | $1.13B | $1.68B |
| FY 2024 | $1.73B | $4.09B | — | 50.6% | $856.8M | $1.04B |
| FY 2023 | $1.34B | $0 | — | — | $685.9M | $1.08B |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
TW // BETA 0.99
CBOE // BETA 1.07