Tradeweb vs Carlyle

Tradeweb Markets Inc. and Carlyle Group, The are contrasted on this page to explain how their business models, financial performance, and market context differ. The content is presented in a neutral, accessible way to help readers understand each organisation’s approach to markets, capital solutions, and client services. Educational content, not financial advice.

Tradeweb Markets Inc. and Carlyle Group, The are contrasted on this page to explain how their business models, financial performance, and market context differ. The content is presented in a neutral, ...

Comparison Snapshot

Key Financial Metrics

TW

Metric

CG

$22.70B

Market Cap

$22.06B

24.01%

Potential Profit

14.17%

Buy

Analyst Rating

Buy

Why It's Moving

Tradeweb's Trading Volumes Surge to New Heights Amid Robust Fixed Income Demand

December volumes hit $18.2 trillion with ADV of $834.5 billion, a 28% YoY jump, signaling sustained client engagement in fixed income.
Q4 ADV reached a record $897.9 billion, up 30.9% YoY, highlighting Tradeweb's tech edge in capturing market share.
November's $18.7 trillion total drove 37.2% YoY ADV growth to $958.7 billion, powered by 42.7% surge in U.S. credit and record 20.1% share in High Grade TRACE.

Sentiment:

🐃Bullish

Tradeweb's Trading Volumes Surge to New Heights Amid Robust Fixed Income Demand

December volumes hit $18.2 trillion with ADV of $834.5 billion, a 28% YoY jump, signaling sustained client engagement in fixed income.
Q4 ADV reached a record $897.9 billion, up 30.9% YoY, highlighting Tradeweb's tech edge in capturing market share.
November's $18.7 trillion total drove 37.2% YoY ADV growth to $958.7 billion, powered by 42.7% surge in U.S. credit and record 20.1% share in High Grade TRACE.

Sentiment:

🐃Bullish

Investment Analysis

Tradeweb

TW

Pros

Tradeweb reported a record total trading volume of $63.7 trillion and a record average daily volume of $2.9 trillion in September 2025, reflecting strong market activity.
The company has a very strong liquidity profile with a quick ratio of 2.66 and current ratio of 2.82, indicating robust short-term financial health.
Tradeweb has a solid return on assets of 10% and return on invested capital of 10.81%, showing efficient use of its capital.

Considerations

Tradeweb's valuation metrics indicate a premium price with a price/earnings ratio of 46.08 and price/sales ratio of 16.65, which are higher than some industry peers.
Return on equity at 12.82% is slightly lower than close competitors like CME Group, which may signal less equity efficiency.
The company operates in a highly competitive electronic marketplace sector, facing risks from rapid technological change and regulatory scrutiny.

Carlyle

CG

Pros

The Carlyle Group manages a large asset base of $325.2 billion, ranking it among the largest alternative asset managers globally.
Carlyle benefits from diversification across private equity, credit, real assets, and investment solutions, supporting revenue stability.
The firm has a global footprint and deep industry expertise, which support sourcing attractive investment opportunities and client relationships.

Considerations

As an alternative asset manager, Carlyle’s revenues and performance fee income are cyclical and vulnerable to market downturns.
The firm faces regulatory and political risks due to its global operations and exposure to diverse jurisdictions.
Carlyle's reliance on fundraising and capital deployment execution poses risks if investor appetite or deal flow weakens.

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