WallStSmart

Integral Ad Science Holding LLC (IAS)vsTradeweb Markets Inc (TW)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Tradeweb Markets Inc generates 247% more annual revenue ($2.05B vs $590.67M). TW leads profitability with a 39.6% profit margin vs 0.1%. TW trades at a lower P/E of 30.8x. TW earns a higher WallStSmart Score of 65/100 (C+).

IAS

Hold

42

out of 100

Grade: D

Growth: 4.7Profit: 4.0Value: 3.7Quality: 5.0

TW

Buy

65

out of 100

Grade: C+

Growth: 8.0Profit: 8.5Value: 5.3Quality: 7.8
Piotroski: 5/9Altman Z: 5.64
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

IASSignificantly Overvalued (-444.2%)

Margin of Safety

-444.2%

Fair Value

$1.90

Current Price

$10.34

$8.44 premium

UndervaluedFair: $1.90Overvalued
TWUndervalued (+35.1%)

Margin of Safety

+35.1%

Fair Value

$177.37

Current Price

$116.57

$60.80 discount

UndervaluedFair: $177.37Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IAS1 strengths · Avg: 8.0/10
Price/BookValuation
1.6x8/10

Reasonable price relative to book value

TW4 strengths · Avg: 10.0/10
Profit MarginProfitability
39.6%10/10

Keeps 40 of every $100 in revenue as profit

Operating MarginProfitability
42.4%10/10

Strong operational efficiency at 42.4%

EPS GrowthGrowth
128.8%10/10

Earnings expanding 128.8% YoY

Altman Z-ScoreHealth
5.6410/10

Safe zone — low bankruptcy risk

Areas to Watch

IAS4 concerns · Avg: 3.5/10
P/E RatioValuation
36.9x4/10

Premium valuation, high expectations priced in

Revenue GrowthGrowth
0.2%4/10

0.2% revenue growth

Market CapQuality
$1.74B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
0.0%3/10

ROE of 0.0% — below average capital efficiency

TW2 concerns · Avg: 3.0/10
P/E RatioValuation
30.8x4/10

Premium valuation, high expectations priced in

PEG RatioValuation
3.022/10

Expensive relative to growth rate

Comparative Analysis Report

WallStSmart Research

Bull Case : IAS

The strongest argument for IAS centers on Price/Book.

Bull Case : TW

The strongest argument for TW centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 39.6% and operating margin at 42.4%. Revenue growth of 12.5% demonstrates continued momentum.

Bear Case : IAS

The primary concerns for IAS are P/E Ratio, Revenue Growth, Market Cap. Thin 0.1% margins leave little buffer for downturns.

Bear Case : TW

The primary concerns for TW are P/E Ratio, PEG Ratio.

Key Dynamics to Monitor

IAS profiles as a value stock while TW is a mature play — different risk/reward profiles.

IAS carries more volatility with a beta of 1.57 — expect wider price swings.

TW is growing revenue faster at 12.5% — sustainability is the question.

TW generates stronger free cash flow (337M), providing more financial flexibility.

Bottom Line

TW scores higher overall (65/100 vs 42/100), backed by strong 39.6% margins and 12.5% revenue growth. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Integral Ad Science Holding LLC

COMMUNICATION SERVICES · ADVERTISING AGENCIES · USA

Integral Ad Science Holding LLC is a digital advertising verification company in the United States, United Kingdom, Germany, Italy, Spain, Sweden, Singapore, Australia, France, Japan, Canada, Hong Kong, and Brazil. The company is headquartered in New York, New York.

Tradeweb Markets Inc

FINANCIAL SERVICES · CAPITAL MARKETS · USA

Tradeweb Markets Inc. creates and operates electronic marketplaces in the Americas, Europe, the Middle East, Africa, Asia Pacific and internationally.

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