Is Tradeweb Markets, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Tradeweb Markets, Inc. has moved from very attractive to fair. This suggests that the company is currently fairly valued. Key ratios include a P/E ratio of 60, an EV to EBITDA of 31.64, and a PEG ratio of 1.78, which indicate a premium valuation relative to its peers. For comparison, a peer like Tradeweb Markets has a P/E of 47.50 and an EV to EBITDA of 24.83, suggesting that Tradeweb is priced higher than its industry counterparts.
In terms of returns, Tradeweb has underperformed against the S&P 500 across multiple periods, with a year-to-date return of -18.33% compared to the S&P 500's 13.30%. This underperformance reinforces the notion that the stock may be overvalued in the current market context.