A Business at a Glance
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Interactive Brokers Group, Inc.
IBKR
$40.7B
Mkt Cap
$91.74
-0.02%
Interactive Brokers Group, Inc. (IBKR) has a current P/E ratio of 41.3, compared to its historical median P/E of 25.4. The stock is currently considered Expensive based on its historical valuation range.
Interactive Brokers Group, Inc. (IBKR) has a 5-year average return on invested capital (ROIC) of 17.3%. This indicates strong capital allocation and a potential competitive advantage.
Interactive Brokers Group, Inc. (IBKR) has a market capitalization of $41.1B. It is classified as a large-cap stock.
Yes, Interactive Brokers Group, Inc. (IBKR) pays a dividend with a trailing twelve-month yield of 0.35%.
Based on historical P/E analysis, Interactive Brokers Group, Inc. (IBKR) appears expensive. The current P/E of 41.3 is 63% above its historical median of 25.4. The estimated fair value CAGR (P/E method) is 15.8%.
Interactive Brokers Group, Inc. (IBKR) operates in the Security Brokers, Dealers & Flotation Companies industry, within the Financials sector.
Interactive Brokers Group is an automated global broker that executes, clears, and settles trades for institutional and individual customers across more than 170 electronic exchanges and market centers in 40 countries and 29 currencies. The company operates a technology-driven, asset-light business model centered on proprietary software that automates order routing, trade execution, and middle- and back-office functions, enabling low-cost commission-based trading in stocks, options, futures, forex, bonds, mutual funds, ETFs, precious metals, cryptocurrencies, and forecast contracts. Revenue is generated through commissions on trading volumes, net interest income from customer cash balances and margin lending, and other fees from services such as securities lending and cash management offerings including an insured bank deposit sweep program. The company serves approximately 4.4 million institutional and individual customers through multiple trading platforms—including the flagship Trader Workstation, IBKR Desktop, IBKR Mobile, IBKR Client Portal, and IBKR GlobalTrader—as well as APIs for sophisticated clients, with core service tiers IBKR Pro and IBKR Lite designed for different investor sophistication levels. The company's competitive moat derives from nearly five decades of proprietary technology development, integration with numerous global trading venues, minimal human intervention requirements, and the resulting ability to offer high-speed execution at industry-leading low costs, making it particularly attractive to sophisticated and active traders. Interactive Brokers operates globally with headquarters in Greenwich, Connecticut and offices across North America, Europe, Asia-Pacific, and the Middle East, serving a diverse customer base ranging from hedge funds and mutual funds to registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
【Market-driven growth momentum】 Management expects continued strong engagement from clients as equity market activity and trading volumes remain elevated, with particular optimism around newer product categories including forecast contracts and overnight trading hours that are seeing increasing adoption. The company is investing in platform enhancements and AI-driven tools to improve client research, portfolio analysis, and trading efficiency, with expectations that such capabilities will drive higher trading frequency and engagement over time. Interactive Brokers is pursuing a bank charter application with the OCC, with management expecting operational status by the end of 2025, which would enable the company to custody mutual fund and ETF assets—a capability currently restricted under broker-dealer regulations. The company continues to expand its cryptocurrency offering and forecast contracts business, with ForecastX now listing over 10,000 instruments and receiving increased institutional inquiries, while also rolling out new features such as Election Board to support political event contract trading. Management remains focused on adding institutional partners and introducing brokers to the forecast contracts platform while driving direct customer participation, and anticipates that regulatory clarity and asset transfer capabilities will unlock additional growth opportunities in crypto and prediction markets.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 6.4B | 2.4B | 2.0B | 1.6B | 1.5B | 1.6B |
| Net Income | 1.0B | 984M | 755M | 600M | 380M | 308M |
| EPS | $2.34 | $2.22 | $1.73 | $1.42 | $3.75 | $3.24 |
| Free Cash Flow | 16.8B | 15.7B | 8.7B | 4.5B | 3.9B | 5.8B |
| ROIC | 0.0% | 20.4% | 19.2% | 18.7% | 14.5% | 13.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividends/Share | $0.32 | $0.30 | $0.21 | $0.10 | $0.39 | $0.40 |
| Operating Income | 0 | 4.8B | 3.7B | 3.1B | 2.0B | 1.8B |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 18.6% | 20.4% | 19.2% | 18.7% | 14.5% | 14.2% |
| Shares Outstanding | 448M | 443M | 436M | 423M | 101M | 95M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.1B | 1.3B | 1.5B | 1.9B | 2.4B | 2.6B | 1.3B | 1.6B | 1.5B | 1.6B | 2.0B | 2.4B | 6.4B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 205M | 227M | 242M | 249M | 264M | 288M | 325M | 399M | 165M | 211M | 314M | 247M | 253M |
| EBIT | 10M | 18M | 761M | 110M | 12M | 1.2B | 1.3B | 1.8B | 2.0B | 3.1B | 3.7B | 4.8B | 0 |
| Op. Margin | 0.9% | 1.4% | 51.6% | 5.7% | 0.5% | 44.8% | 97.6% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | 45M | 49M | 84M | 76M | 169M | 161M | 195M | 308M | 380M | 600M | 755M | 984M | 1.0B |
| Net Margin | 4.0% | 3.9% | 5.7% | 3.9% | 7.1% | 6.2% | 15.2% | 19.6% | 25.2% | 38.5% | 38.2% | 40.3% | 16.1% |
| Non-Recurring | 0 | 0 | 0 | 43M | 1.0M | 1.0M | 14M | 0 | 1.0M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.1% | 6.0% | 9.1% | 7.4% | 14.2% | 11.8% | 11.1% | 13.9% | 14.5% | 18.7% | 19.2% | 20.4% | 0.0% |
| ROE | 6.1% | 6.0% | 9.1% | 7.4% | 14.2% | 11.8% | 11.5% | 14.2% | 14.5% | 18.7% | 19.2% | 20.4% | 18.6% |
| ROA | 0.1% | 0.1% | 0.2% | 0.1% | 0.3% | 0.2% | 0.2% | 0.3% | 0.3% | 0.5% | 0.5% | 0.6% | 0.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 417M | 725M | 635M | 1.1B | 2.4B | 2.7B | 8.1B | 5.9B | 4.0B | 4.5B | 8.7B | 15.8B | 16.8B |
| Free Cash Flow | 398M | 695M | 608M | 1.0B | 2.3B | 2.6B | 8.0B | 5.8B | 3.9B | 4.5B | 8.7B | 15.7B | 16.8B |
| Owner Earnings | 335M | 658M | 582M | 1.0B | 2.3B | 2.6B | 8.0B | 5.8B | 3.8B | 4.4B | 8.6B | 15.6B | 16.7B |
| CapEx | 19M | 30M | 27M | 28M | 36M | 74M | 50M | 77M | 69M | 49M | 49M | 67M | 77M |
| Maint. CapEx | 41M | 17M | 2.0M | 12M | 13M | 13M | 3.0M | 40M | 58M | 80M | 51M | 63M | 64M |
| Growth CapEx | 0 | 13M | 25M | 16M | 23M | 61M | 47M | 37M | 11M | 0 | 0 | 4.0M | 13M |
| D&A | 41M | 17M | 2.0M | 12M | 13M | 13M | 3.0M | 40M | 58M | 80M | 51M | 63M | 64M |
| CapEx/OCF | 4.6% | 4.1% | 4.3% | 2.6% | 1.5% | 2.8% | 0.6% | 1.3% | 1.7% | 1.1% | 0.6% | 0.4% | 0.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 23M | 25M | 26M | 28M | 29M | 31M | 32M | 38M | 40M | 42M | 92M | 134M | 143M |
| Dividend Yield | 7.2% | 4.6% | 4.5% | 4.0% | 2.6% | 3.3% | 3.4% | 2.4% | 2.4% | 0.5% | 0.7% | 0.5% | 0.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 41M | 50M | 51M | 53M | 58M | 60M | 65M | 80M | 92M | 100M | 112M | 118M | 120M |
| Debt Repayment | 10M | 34M | 74M | 59M | 2.0M | 1.0M | 6.0M | 4.0M | 9.0M | 1.0M | 3.0M | 5.0M | 5.0M |
| Balance Sheet | |||||||||||||
| Net Debt | -1.2B | -1.6B | -4.5B | 3.0B | -4.5B | -5.1B | -14.2B | 10.3B | -20.1B | -7.4B | 3.9B | -3.6B | -20.4B |
| Cash & Equiv. | 1.3B | 1.6B | 1.9B | 1.7B | 2.6B | 2.9B | 4.3B | 2.4B | 3.4B | 3.8B | 3.6B | 5.0B | 20.5B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | 96M | 0 | 0 | 0 | N/A | N/A | 12M |
| Debt/Equity | 0.04 | 0.00 | 0.08 | 0.01 | 0.01 | 0.01 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage | 0.0 | 0.0 | 0.5 | 0.1 | 0.0 | 1.8 | 4.8 | 8.0 | 2.0 | 0.9 | 0.7 | 0.8 | 0.8 |
| Equity | 766M | 863M | 974M | 1.1B | 1.3B | 1.5B | 2.0B | 2.4B | 2.8B | 3.6B | 4.3B | 5.4B | 5.6B |
| Total Assets | 43.4B | 48.7B | 54.7B | 61.2B | 60.5B | 71.7B | 95.7B | 109.1B | 115.1B | 128.3B | 150.1B | 203.2B | 218.7B |
| Total Liabilities | 38.2B | 43.4B | 48.9B | 54.7B | 53.4B | 63.7B | 86.7B | 98.9B | 103.5B | 114.2B | 133.5B | 182.8B | 197.5B |
| Intangibles | N/A | 30M | 28M | 29M | 33M | 34M | 37M | 46M | 48M | 43M | 48M | 52M | 52M |
| Retained Earnings | 121M | 145M | 203M | 251M | 390M | 520M | 683M | 953M | 1.3B | 1.9B | 2.5B | 3.4B | 3.6B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.77 | 0.78 | 1.25 | 1.07 | 2.28 | 2.10 | 2.42 | 3.24 | 3.75 | 1.42 | 1.73 | 2.22 | 2.34 |
| Owner EPS | 5.73 | 10.47 | 8.66 | 14.08 | 30.83 | 33.82 | 99.28 | 60.76 | 37.68 | 10.33 | 19.62 | 35.26 | 37.14 |
| Book Value | 13.11 | 13.74 | 14.49 | 15.35 | 17.30 | 18.94 | 24.21 | 25.19 | 28.11 | 8.48 | 9.81 | 12.10 | 12.46 |
| Cash Flow/Share | 7.13 | 11.54 | 9.45 | 14.99 | 31.79 | 34.77 | 100.13 | 62.02 | 39.16 | 10.75 | 19.99 | 35.67 | 2.46 |
| Dividends/Share | 0.39 | 0.40 | 0.39 | 0.39 | 0.39 | 0.40 | 0.40 | 0.40 | 0.39 | 0.10 | 0.21 | 0.30 | 0.32 |
| Shares Out. | 58.4M | 62.8M | 67.2M | 71.0M | 74.1M | 76.7M | 80.6M | 95.1M | 101.3M | 422.5M | 436.4M | 443.2M | 448.4M |
| Valuation | |||||||||||||
| P/E Ratio | 35.1 | 51.5 | 27.8 | 53.3 | 22.3 | 21.6 | 25.0 | 24.6 | 19.1 | 57.8 | 25.7 | 29.8 | 39.2 |
| P/FCF | 1.0 | 0.9 | 1.0 | 1.0 | 0.4 | 0.3 | 0.2 | 0.3 | 0.5 | 1.9 | 2.2 | 1.9 | 2.5 |
| EV/EBIT | 34.6 | 51.4 | N/A | 64.0 | N/A | N/A | N/A | 10.0 | N/A | 8.9 | 3.3 | N/A | N/A |
| Price/Book | 2.1 | 2.9 | 2.4 | 3.7 | 2.9 | 2.4 | 2.5 | 3.2 | 2.5 | 9.7 | 4.5 | 5.5 | 7.4 |
| Price/Sales | 1.1 | 1.7 | 1.6 | 1.5 | 1.9 | 1.5 | 2.9 | 4.1 | 4.4 | 22.1 | 7.0 | 10.3 | 6.4 |
| FCF Yield | 25.2% | 27.5% | 26.1% | 25.6% | 61.4% | 74.4% | 164.4% | 76.9% | 53.8% | 13.0% | 44.7% | 53.7% | 40.7% |
| Market Cap | 1.6B | 2.5B | 2.3B | 4.1B | 3.8B | 3.5B | 4.9B | 7.6B | 7.2B | 34.7B | 19.4B | 29.3B | 41.1B |
| Avg. Price | 5.45 | 8.72 | 8.52 | 9.91 | 15.04 | 12.21 | 11.64 | 16.89 | 16.24 | 20.36 | 31.60 | 56.50 | 91.74 |
| Year-End Price | 6.76 | 10.05 | 8.67 | 14.26 | 12.74 | 11.36 | 15.13 | 19.89 | 17.87 | 20.53 | 44.47 | 66.09 | 91.74 |
Interactive Brokers Group, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Interactive Brokers Group, Inc. trades at 41.3x trailing earnings, compared to its 15-year median P/E of 25.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 2.6x vs a median of 0.7x. The company's 5-year average ROIC is 17.3%. Total shareholder yield (dividends) is 0.3%. At current prices, the estimated annualized return to fair value is +2.5%.
Interactive Brokers Group, Inc. (IBKR) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Interactive Brokers Group, Inc. (IBKR) has a net profit margin of 40.3%. This is a strong margin indicating high profitability.
Interactive Brokers Group, Inc. (IBKR) generated $15.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Interactive Brokers Group, Inc. (IBKR) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
Interactive Brokers Group, Inc. (IBKR) reported earnings per share (EPS) of $2.22 in its most recent fiscal year.
Interactive Brokers Group, Inc. (IBKR) has a return on equity (ROE) of 20.4%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 18 years of financial data for Interactive Brokers Group, Inc. (IBKR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Interactive Brokers Group, Inc. (IBKR) has a book value per share of $12.10, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued strong engagement from clients as equity market activity and trading volumes remain elevated, with particular optimism around newer product categories including forecast contracts and overnight trading hours that are seeing increasing adoption. The company is investing in platform enhancements and AI-driven tools to improve client research, portfolio analysis, and trading efficiency, with expectations that such capabilities will drive higher trading frequency and engagement over time. Interactive Brokers is pursuing a bank charter application with the OCC, with management expecting operational status by the end of 2025, which would enable the company to custody mutual fund and ETF assets—a capability currently restricted under broker-dealer regulations. The company continues to expand its cryptocurrency offering and forecast contracts business, with ForecastX now listing over 10,000 instruments and receiving increased institutional inquiries, while also rolling out new features such as Election Board to support political event contract trading. Management remains focused on adding institutional partners and introducing brokers to the forecast contracts platform while driving direct customer participation, and anticipates that regulatory clarity and asset transfer capabilities will unlock additional growth opportunities in crypto and prediction markets.