COMP <GO>
TW vs LPLA // OPERATING MARGIN
Tradeweb Markets Inc. (NASDAQ) VS. LPL Financial Holdings Inc. (NASDAQ) • 15-METRIC TALLY: TW 7
— LPLA 5
▲ OPERATING MARGIN LEADER: TW
LAST: $124.02 (+1.21%) • MKT CAP: $28.45B
operating-margins
40.70%
LAST: $298.63 (+5.25%) • MKT CAP: $22.09B
operating-margins
6.20%
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (TW VS. LPLA)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | TW | LPLA | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 13.60% | 8.50% | +5.10 | TW | /roic <GO> |
| EV/EBITDA & P/E Valuation | 30.1x | 17.2x | +12.90 | LPLA | /valuation <GO> |
| Free Cash Flow Yield | 4.05% | -4.46% | +8.51 | TW | /fcf-yield <GO> |
| Operating Margin ACTIVE | 40.70% | 6.20% | +34.50 | TW | /operating-margins <GO> |
| Net Profit Margin | 39.60% | 5.10% | +34.50 | TW | /net-margins <GO> |
| Revenue Growth (YoY) | 18.90% | 37.20% | -18.30 | LPLA | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.43% | -0.43 | LPLA | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 9/9 | 5/9 | +4.00 | TW | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 66.3 | 35.0 | +31.30 | TW | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 0.99 | 1.11 | -0.12 | LPLA | /macro-sensitivity <GO> |
| Forward P/E Multiple | 28.7x | 21.4x | +7.30 | LPLA | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $28.45B | $22.09B | $6.35B | TW | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | TW REV | LPLA REV | TW GROSS % | LPLA GROSS % | TW FCF | LPLA FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $2.05B | $16.99B | — | — | $1.13B | -$981.8M |
| FY 2024 | $1.73B | $12.39B | — | — | $856.8M | -$284.9M |
| FY 2023 | $1.34B | $10.05B | — | — | $685.9M | $60.2M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
TW // BETA 0.99
LPLA // BETA 1.11