Compare
Tradeweb Markets Inc. vs BGC Group, Inc. vs Cboe Global Markets, Inc. vs Nasdaq, Inc.
| Latest fiscal year | Tradeweb Markets Inc. TW | BGC Group, Inc. BGC | Cboe Global Markets, Inc. CBOE | Nasdaq, Inc. NDAQ |
|---|---|---|---|---|
| Year ended | 2025-12-31 | 2025-12-31 | 2025-12-31 | 2025-12-31 |
| Revenue | $2.05B | $2.94B | $4.71B | $8.26B |
| Revenue growth (YoY) | +18.9% | +30.0% | +15.1% | +11.6% |
| Gross margin | n/a | n/a | 51.5% | 63.5% |
| Operating margin | 40.7% | n/a | 31.1% | 28.2% |
| Net margin | 44.9% | 5.3% | 23.3% | 21.6% |
| Net income | $921.50M | $154.96M | $1.10B | $1.79B |
| EPS (Diluted) | $3.78 | $0.31 | $10.42 | $3.09 |
| Operating cash flow | $1.17B | $394.35M | $1.75B | $2.25B |
| Free cash flow | $1.13B | $372.87M | $1.68B | $1.99B |
| Cash & equivalents | $2.08B | $851.50M | $2.22B | $604.00M |
| Total assets | $8.19B | $4.41B | $9.31B | $31.05B |
| Total liabilities | $1.00B | $3.27B | $4.17B | $18.82B |
| Shareholders' equity | $6.51B | $1.15B | $5.14B | $12.23B |
| Return on year-end equity | 14.2% | 13.5% | 21.4% | 14.6% |
| Shares outstanding | n/a | n/a | 104.65M | 569.89M |
Revenue, most recent five fiscal years
| Fiscal year | Tradeweb Markets Inc. | BGC Group, Inc. | Cboe Global Markets, Inc. | Nasdaq, Inc. |
|---|---|---|---|---|
| Latest | $2.05B Ended 2025-12-31 | $2.94B Ended 2025-12-31 | $4.71B Ended 2025-12-31 | $8.26B Ended 2025-12-31 |
| 1 year earlier | $1.73B Ended 2024-12-31 | $2.26B Ended 2024-12-31 | $4.09B Ended 2024-12-31 | $7.40B Ended 2024-12-31 |
| 2 years earlier | $1.34B Ended 2023-12-31 | $2.03B Ended 2023-12-31 | $3.77B Ended 2023-12-31 | $6.06B Ended 2023-12-31 |
| 3 years earlier | $1.19B Ended 2022-12-31 | $1.80B Ended 2022-12-31 | $3.96B Ended 2022-12-31 | $6.23B Ended 2022-12-31 |
| 4 years earlier | $1.08B Ended 2021-12-31 | $2.02B Ended 2021-12-31 | $3.49B Ended 2021-12-31 | $5.89B Ended 2021-12-31 |