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Tradeweb Markets Inc. cash flow statement

In fiscal 2025, Tradeweb Markets Inc.'s operations generated $1.17bn of cash; it spent $40.6m on capital projects, leaving free cash flow of $1.13bn. It returned $102m in dividends and $104m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations2253114435786337468981,1681,201
Depreciation and amortisation69139154171179185220250245
Stock-based pay26503952676590104110
Capital spending131611172319414147
Free cash flow2112954325616107288571,1271,155
Free cash flow after stock pay1852453925095436627671,0241,045
Dividends paid—365865667685102114
Share buybacks—0076993559104551
Shares issued—1,97162600————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Tradeweb Markets Inc.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Tradeweb Markets Inc.