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  "docSlug": "cf9fca188ea127688a74c04c04b63b76",
  "documentTitle": "Tradeweb | Investor Presentation Deck | 30 slides",
  "authorId": "tradeweb",
  "authorName": "Tradeweb",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-08-01 00:00:00",
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  "pageNumber": 23,
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  "slideType": "business_model",
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  "density": "dense",
  "nDataPoints": 13,
  "notes": "Includes a dual-axis chart showing FCF growth and FCF conversion.",
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      "kind": "chart",
      "text": "STRONG FREE CASH FLOW GROWTH & CONVERSION ($M)",
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      "kind": "diagram",
      "text": "Invest in Profitable Growth (3-5 YEAR TIME HORIZON), Return Capital to Shareholders (DIVIDEND + BUYBACK), Opportunistic Acquisitions (EXPAND OR ENHANCE CAPABILITIES)",
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      "text": "Balanced strategy of returning capital to shareholders (dividend + buyback) and investing in the business\nStrong balance sheet with $960 million of cash and cash equivalents, supported by strong free cash flow generation\n$500 million revolver remains undrawn as of June 30, 2022\n$150 million share repurchase program which we will use primarily to offset annual equity grants",
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      "kind": "source-note",
      "text": "$150M Share repurchase authorized in February 2021. $18.0 million of share repurchase authorization remains outstanding at end of 2Q22.\nFree Cash Flow (\"FCF\") is a non-GAAP financial measure. FCF Conversion is FCF divided by Adjusted Net Income for the applicable period. See \"Appendix\" for a reconciliation to its most comparable GAAP financial measure.",
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      "kind": "title",
      "text": "Capital Management",
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      "evidence": "The slide explicitly outlines a 'Future Capital Allocation Philosophy' involving investment, shareholder returns, and acquisitions.",
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      "evidence": "Strong & Broad-based Revenue and YTD Margin Expansion vs. FY21 and Continuing to Strike the Right Balance Between Investing to Drive Revenue Growth & YTD Margin Expansion vs. FY21",
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