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Tradeweb MarketsTW -3.21%87 Return-on-Tangible-Asset is 22.24% as of Mar. 2026, which is 49% above its 10-year median of 14.95. GuruFocus rates TW with a GF Score™ of 87/100 and a GF Value™ of $166.95 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 818 Capital Markets companies, Tradeweb Markets ranks better than 95.84% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Tradeweb Markets's annualizedNet Income for the quarter that ended in Mar. 2026 was $821 Mil. Tradeweb Markets's average total tangible assets for the quarter that ended in Mar. 2026 was $3,692 Mil. Therefore, Tradeweb Markets's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 22.24%.
The historical rank and industry rank for Tradeweb Markets's Return-on-Tangible-Asset or its related term are showing as below:
TW'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 9.87 Med: 14.95 Max: 26.38
Current: 25.78
During the past 10 years, Tradeweb Markets's highest Return-on-Tangible-Asset was 26.38%. The lowest was 9.87%. And the median was 14.95%.
TW's Return-on-Tangible-Asset is ranked better than 95.84% of 818
companies
in the Capital Markets industry
Industry Median: 1.54
vs TW: 25.78
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Tradeweb Markets Return-on-Tangible-Asset Related Terms
Tradeweb Markets Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Tradeweb Markets's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TW vs LPLA, CRCL, IREN: Return-on-Tangible-Asset Comparison
For the Capital Markets subindustry, Tradeweb Markets's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tradeweb Markets Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Tradeweb Markets's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Tradeweb Markets's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 22.24% mean?
Tradeweb Markets (TW) has a Return-on-Tangible-Asset of 22.24% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Tradeweb Markets and its competitors. This is 49% above median its historical median of 14.95. Over the past decade, Tradeweb Markets' Return-on-Tangible-Asset has ranged from 9.87 to 26.38. According to the industry distribution chart, Tradeweb Markets ranks #34 out of 818 companies in the Capital Markets industry, placing it in the top 4.2%.
Is Tradeweb Markets' Return-on-Tangible-Asset too high?
Tradeweb Markets' current Return-on-Tangible-Asset of 22.24% is 49% above median its 10-year median of 14.95. Over the past 10 years, this metric has ranged from a low of 9.87 to a high of 26.38. The Capital Markets industry median Return-on-Tangible-Asset is 1.54. Tradeweb Markets' value of 22.24% is 1344.2% above this industry median. Based on the distribution chart, Tradeweb Markets ranks #34 out of 818 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Tradeweb Markets has a GF Score™ of 87/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tradeweb Markets' Return-on-Tangible-Asset compare to LPLA and CRCL?
According to the Capital Markets industry distribution chart, Tradeweb Markets ranks #34 out of 818 companies for Return-on-Tangible-Asset. This places Tradeweb Markets in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.54. Tradeweb Markets' value of 22.24% is 1344.2% above this benchmark. Historically, Tradeweb Markets' own Return-on-Tangible-Asset has ranged from 9.87 to 26.38 over the past decade. While the company's 10-year median is 14.95 vs. the industry median of 1.54, Tradeweb Markets has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.54, based on 818 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tradeweb Markets's current Return-on-Tangible-Asset of 22.24% is 1344.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Tradeweb Markets and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tradeweb Markets's current Return-on-Tangible-Asset is 22.24%, which is 49% above median its own 10-year median of 14.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tradeweb Markets stock overvalued right now?
Based on GuruFocus' analysis, Tradeweb Markets (TW) is currently considered Significantly Undervalued. The stock's GF Value™ is $166.95, compared to a current price of $97.25 — trading 41.7% below its estimated fair value. The current Return-on-Tangible-Asset is 22.24%, which is 49% above median its 10-year median of 14.95 and 1344.2% above the Capital Markets industry median of 1.54. Tradeweb Markets' overall GF Score™ is 87/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Tradeweb Markets (TW), the current Return-on-Tangible-Asset is 22.24% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tradeweb Markets (TW) Overvalued in 2026?
Based on GuruFocus' analysis, Tradeweb Markets stock appears to be undervalued.
The current stock price of $97.25 is trading 41.7% below its estimated GF Value™ of $166.95.
GuruFocus considers Tradeweb Markets to be Significantly Undervalued.
Key valuation signals for TW:
Return-on-Tangible-Asset: 22.24% (49% above median its 10-year median of 14.95)
GF Value™: $166.95 vs. price of $97.25 (41.7% below fair value)
Industry Position: 1344.2% above the Capital Markets median (#34 of 818)
No single metric tells the full story. See the TW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1998 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. While it does offer electronic processing for some voice-negotiated trades, the company focuses primarily on providing electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in US and European government debt, mortgage-backed securities, interest-rate swaps, and US and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with Refinitiv's Eikon service.
87GF Score
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