v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
The following table summarizes the calculations of basic and diluted earnings per share of Class A and Class B common stock for Tradeweb Markets Inc.:
Three Months Ended
March 31,
20262025
(dollars in thousands, except per share amounts)
Numerator:
Net income attributable to Tradeweb Markets Inc.$205,284 $148,382 
Less: Distributed and undistributed earnings allocated to participating securities (1)
(76)(129)
Net income attributable to outstanding shares of Class A and Class B common stock - Basic and Diluted$205,208 $148,253 
Denominator:
Weighted average shares of Class A and Class B common stock outstanding - Basic212,685,136 213,087,496 
Dilutive effect of PRSUs— 434,441 
Dilutive effect of options219,311 289,873 
Dilutive effect of RSUs and RSAs401,067 553,747 
Dilutive effect of PSUs19,134 529,861 
Weighted average shares of Class A and Class B common stock outstanding - Diluted213,324,648 214,895,418 
Earnings per share - Basic$0.96 $0.70 
Earnings per share - Diluted$0.96 $0.69 
(1)During the three months ended March 31, 2026 and 2025, there was a total of 78,389 and 185,309, respectively, weighted average unvested or unsettled vested stock awards that were considered a participating security for purposes of calculating earnings per share in accordance with the two-class method.
Schedule of Antidilutive Shares
The following table summarizes the PRSUs, shares underlying options, RSUs, RSAs, PSUs and weighted-average LLC Interests held by Continuing LLC Owners that were anti-dilutive for the periods indicated. As a result, these shares, which were outstanding, were excluded from the computation of diluted earnings per share for the periods indicated:
Three Months Ended
March 31,
20262025
Anti-dilutive Shares:
PRSUs— — 
Options— — 
RSUs and RSAs659,207 240,797 
PSUs— — 
LLC Interests23,056,868 23,070,027