Tradeweb vs KeyCorp

Tradeweb Markets Inc. and KeyCorp are compared on this page to explain their business models, financial performance, and the market context in which they operate. The tone remains neutral and accessible, focusing on differences and similarities to support understanding rather than prediction. Educational content, not financial advice.

Tradeweb Markets Inc. and KeyCorp are compared on this page to explain their business models, financial performance, and the market context in which they operate. The tone remains neutral and accessib...

Comparison Snapshot

Key Financial Metrics

TW

Metric

KEY

$22.70B

Market Cap

$23.47B

24.01%

Potential Profit

8.82%

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 strong quarterly revenue growth of 13.3% in Q3 2025, reflecting robust demand for its electronic trading platforms.
The company maintains a healthy balance sheet with a quick ratio of 2.66 and interest coverage of over 230, indicating strong liquidity and low financial risk.
Tradeweb continues to expand its market reach, with October 2025 average daily trading volume reaching $2.8 trillion, highlighting its leading position in global electronic marketplaces.

Considerations

Tradeweb's valuation metrics are elevated, with a price-to-sales ratio above 16 and a price-to-earnings ratio notably higher than industry peers.
Analyst models suggest the stock may be significantly overvalued, with some fair value estimates indicating a potential downside of nearly 70% from current levels.
The company's return on equity, while stable, is not industry-leading, and excess returns above the cost of capital are only moderate.

KeyCorp

KEY

Pros

KeyCorp maintains a diversified banking business with a broad retail and commercial footprint across the United States.
The bank has demonstrated consistent profitability, with stable net interest margins and a solid return on assets relative to its peer group.
KeyCorp offers a relatively attractive dividend yield compared to other regional banks, providing income support for investors.

Considerations

The company faces ongoing exposure to interest rate volatility, which can impact net interest income and loan demand.
KeyCorp's growth prospects are limited by its regional focus and competition from larger national banks and fintech firms.
Asset quality risks persist, particularly in commercial real estate lending, which could pressure credit costs in a downturn.

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