ROARABLE // PRO
GLOBAL DESKS // NYC --:--:-- NYSE
US TAPE
ROAR ▸

TW // Tradeweb Markets Inc.

DES <GO> NASDAQ CIK 0001758730 ↗
Financials • Investment Bankers/Brokers/Service
$118.88 ▼ -0.94 (-0.78%)
MKT CAP: $27.82B • VOL: 1.90M
TW // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE
PRIOR: RQD 69/100 [C+] (+0 PT) • UNCHANGED
ROARABLE C+
RQD CONFIDENCE
69 / 100 +0D
5 X 20-PT QUANT PILLARS
E 0 D 35 C 59 B 70 A 86+
Roarable Hold — Upper Neutral / Watch for Breakout
01 MASSIVE / SEC XBRL
Forensic Fundamentals
17 / 20
STRONG
FCF +31.5% vs NI +62.1% • ROIC-WACC +4.9% • Z 17.94
02 OPRA GEX + SEC 13F
Whale & Options Flow
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
03 SEC FORM 4 (90D)
Insider Conviction
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
04 FRED 90D r-MATRIX
Macro Regime Fit
14 / 20
SOLID
TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00
05 10-K REDLINE AUDIT
Forensic 10-K Risk
16 / 20
STRONG
20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE
ALERT

Why did TW's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever TW is Upgraded or Downgraded.

TW // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +8.20%▲ RESISTANCE BREAKOUT
2026-10-30O $121.0H $125.5L $120.5C $122.5VOL 2.78M
RES: $115.9SUP: $103.1SMA50: $108.4SMA200: $109.2
$127.9$118.0$108.1$98.24$88.35RES $115.9SUP $103.1$122.52026-04-302026-06-152026-07-312026-09-162026-10-30
TW // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE
NEUTRAL / PAIR TRADE CONVICTION: 58/100
BEAR 0
100 BULL

Tradeweb Markets Inc. (TW) exhibits 41.0% gross margins and 13.6% return on invested capital within Financials (Investment Bankers/Brokers/Service), balanced against a 30.1x enterprise multiple and 6.9% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)
01. Operating Leverage & Capital Efficiency Moat

Sustained 41.0% gross profitability converts into 40.7% operating margin and 13.6% ROIC, outpacing sector cost of capital.

ROIC: 13.6% // GM: 41.0%
02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +18.9% paired with 4.05% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +18.9% // FCF YLD: 4.05%
03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 17.94 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 17.94 // F-SCORE: 9/9
▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)
01. Multiple Compression & Duration Sensitivity

Trading at 34.2x trailing P/E (28.7x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 34.2x // EV/EBITDA: 30.1x
02. Options Skew & Event Volatility Risk

Options market prices a ±6.9% implied move with a 0.85 put/call ratio around $117.00 max pain.

IMPL MOVE: ±6.9% // P/C: 0.85
03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Investment Bankers/Brokers/Service require continuous execution to defend 39.6% net margins.

NET MARGIN: 39.6% // D/E: 0.06x
KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 28.7x forward consensus, and institutional 13F positioning.
MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.99).
FORM 4 & 13F FLOW OPEN OWN <GO>
FILER SIDE $ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>
UNUSUAL OPTIONS TAPE OPEN OPT <GO>
STRIKE / EXP TYPE PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>
KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>
TRAILING P/E 34.2x
FORWARD P/E 28.7x
EV / EBITDA 30.1x
FCF YIELD 4.05%
GROSS MARGIN 41.0%
OPERATING MARGIN 40.7%
NET MARGIN 39.6%
ROIC % 13.6%
REV GROWTH YOY +18.9%
DILUTED EPS TTM $3.47
DEBT / EQUITY 0.06x
DIVIDEND YIELD 0.00%
RSI-14 MOMENTUM 71.1
5Y EQUITY BETA 0.99
FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>
MACRO CORRELATION CALIBRATION ACTIVE BELOW.
FRED MACRO REGIME STRESS-TEST SIMULATOR // TWPEARSON R VARIANCE ENGINE
01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO
02 // POSITION NOTIONAL EXPOSURE
HEADLINE STRESS SCORE
75/100SEVERE DRAWDOWN PRESSURE
PRIMARY FACTOR EXPOSURE
DFII10 // -0.61 r
Latest: 2.08%
EST. DIRECTIONAL MOVE
-8.50%
Implied Px: $108.78
EST. DOLLAR VARIANCE
-$4,248
On $50,000 Notional
[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for TW & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>