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Cme vs Tradeweb Markets: revenue, profit, margins and growth compared

Cme brought in $6.5B of revenue in fiscal 2025, Tradeweb Markets $2.1B in fiscal 2025. Revenue changed by +6.4% at Cme and +18.9% at Tradeweb Markets on the year before, so Tradeweb Markets grew faster. Cme kept 62.5% of its revenue as net profit, Tradeweb Markets 39.6%. Free cash flow was $4.2B at Cme and $1.1B at Tradeweb Markets.

Side by side, latest fiscal year

CMETW
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$6.5B$2.1B
Revenue growth+6.4%+18.9%
Net income$4.1B$812.8M
Net margin62.5%39.6%
Free cash flow$4.2B$1.1B
Free cash flow margin64.3%54.9%
Earnings per share (diluted)$11.16$3.78
Cash$4.4B$2.1B
Debtn/an/a
Price to earnings23.726.8
Market value$95.1B$23.7B
Dividend yield1.89%0.47%
Rank by revenue in sector#84 of 444 · Finance#142 of 444 · Finance

Over the years

Revenue
CME FY2018: $4.3BCME FY2019: $4.9BCME FY2020: $4.9BCME FY2021: $4.7BCME FY2022: $5BCME FY2023: $5.6BCME FY2024: $6.1BCME FY2025: $6.5BTW FY2017: $563MTW FY2019: $775.6MTW FY2020: $892.7MTW FY2021: $1.1BTW FY2022: $1.2BTW FY2023: $1.3BTW FY2024: $1.7BTW FY2025: $2.1BFY17FY18FY19FY20FY21FY22FY23FY24FY25
CME $6.5BTW $2.1B
Net income
CME FY2018: $2BCME FY2019: $2.1BCME FY2020: $2.1BCME FY2021: $2.6BCME FY2022: $2.7BCME FY2023: $3.2BCME FY2024: $3.5BCME FY2025: $4.1BTW FY2017: $83.6MTW FY2019: $83.8MTW FY2020: $166.3MTW FY2021: $226.8MTW FY2022: $309.3MTW FY2023: $364.9MTW FY2024: $501.5MTW FY2025: $812.8MFY17FY18FY19FY20FY21FY22FY23FY24FY25
CME $4.1BTW $812.8M
Net margin
CME FY2018: 45.5%CME FY2019: 43.5%CME FY2020: 43.1%CME FY2021: 56.2%CME FY2022: 53.6%CME FY2023: 57.8%CME FY2024: 57.5%CME FY2025: 62.5%TW FY2017: 14.9%TW FY2019: 10.8%TW FY2020: 18.6%TW FY2021: 21.1%TW FY2022: 26.0%TW FY2023: 27.3%TW FY2024: 29.1%TW FY2025: 39.6%FY17FY18FY19FY20FY21FY22FY23FY24FY25
CME 62.5%TW 39.6%
Revenue growth
CME FY2019: +13.0%CME FY2020: +0.3%CME FY2021: -4.0%CME FY2022: +7.0%CME FY2023: +11.1%CME FY2024: +9.9%CME FY2025: +6.4%TW FY2020: +15.1%TW FY2021: +20.6%TW FY2022: +10.4%TW FY2023: +12.6%TW FY2024: +29.0%TW FY2025: +18.9%FY19FY20FY21FY22FY23FY24FY25
CME +6.4%TW +18.9%
Free cash flow
CME FY2018: $2.3BCME FY2019: $2.4BCME FY2020: $2.5BCME FY2021: $2.3BCME FY2022: $3BCME FY2023: $3.4BCME FY2024: $3.6BCME FY2025: $4.2BTW FY2017: $211.1MTW FY2019: $295.2MTW FY2020: $431.7MTW FY2021: $561.1MTW FY2022: $609.6MTW FY2023: $727.6MTW FY2024: $856.8MTW FY2025: $1.1BFY17FY18FY19FY20FY21FY22FY23FY24FY25
CME $4.2BTW $1.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Cme and Tradeweb Markets

Which is bigger by revenue, Cme or Tradeweb Markets?

Cme is bigger by revenue: $6.5B in fiscal 2025, against $2.1B for Tradeweb Markets in fiscal 2025.

Which keeps more of its revenue as profit, Cme or Tradeweb Markets?

Cme had a net margin of 62.5% in fiscal 2025; Tradeweb Markets had 39.6% in fiscal 2025.

Which grew revenue faster, Cme or Tradeweb Markets?

In their latest fiscal years revenue changed by +6.4% at Cme and +18.9% at Tradeweb Markets.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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