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...
Why It's Moving
Tradeweb Markets Posts Strong Volume Growth Despite Market Volatility and Shares Pull Back
- November 2025 total trading volume rose 22.3% year-over-year to $56.8 trillion, led by notable gains in U.S. ETFs (+32.2%) and credit derivatives (+46.5%), highlighting expanding market traction.
- Q3 2025 revenue grew 13% year-over-year to a record $509 million, while Tradeweb noted some electronic trading market share shifted temporarily to traditional voice trading due to heightened volatility.
- Despite operational strength, the stock traded near $107 recently, down about 1% over the last week and facing valuation scrutiny as some models suggest the shares might be overvalued by over 70% based on intrinsic value estimates.
Tradeweb Markets Posts Strong Volume Growth Despite Market Volatility and Shares Pull Back
- November 2025 total trading volume rose 22.3% year-over-year to $56.8 trillion, led by notable gains in U.S. ETFs (+32.2%) and credit derivatives (+46.5%), highlighting expanding market traction.
- Q3 2025 revenue grew 13% year-over-year to a record $509 million, while Tradeweb noted some electronic trading market share shifted temporarily to traditional voice trading due to heightened volatility.
- Despite operational strength, the stock traded near $107 recently, down about 1% over the last week and facing valuation scrutiny as some models suggest the shares might be overvalued by over 70% based on intrinsic value estimates.
Which Baskets Do They Appear In?
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Explore BasketPowering The Markets: Trading & Data Giants
Major US indexes like the S&P 500 and Nasdaq are hitting record highs, signaling strong investor confidence. This creates a potential opportunity for companies that provide the essential infrastructure for market trading and data analysis, as they benefit from increased market activity.
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Explore BasketCapitalizing on the IPO Boom
A collection of carefully selected stocks that stand to benefit from the surging IPO market. Our professional analysts have identified the financial firms, exchanges, and investment banks that facilitate and profit from this increased capital raising activity.
Published: July 2, 2025
Explore BasketWhich Baskets Do They Appear In?
Fintech's S&P 500 Moment
Interactive Brokers' inclusion in the S&P 500 highlights the increasing market significance of electronic trading platforms. This theme focuses on the brokerage firms and financial technology companies benefiting from the modernization of financial markets.
Published: August 28, 2025
Explore BasketPowering The Markets: Trading & Data Giants
Major US indexes like the S&P 500 and Nasdaq are hitting record highs, signaling strong investor confidence. This creates a potential opportunity for companies that provide the essential infrastructure for market trading and data analysis, as they benefit from increased market activity.
Published: July 26, 2025
Explore BasketCapitalizing on the IPO Boom
A collection of carefully selected stocks that stand to benefit from the surging IPO market. Our professional analysts have identified the financial firms, exchanges, and investment banks that facilitate and profit from this increased capital raising activity.
Published: July 2, 2025
Explore BasketDigital Brokers Go Global
Online trading platforms are breaking out of their home markets and racing to capture international users. These carefully selected stocks represent the companies leading this global expansion and the infrastructure providers powering their growth.
Published: July 1, 2025
Explore BasketInvestment 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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