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Interactive Brokers Group
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NASDAQ: IBKR Financials Cap Markets 🔎 Screen
S&P 500
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 85 Ready View all →
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$41.4B
Market Cap
29.0
P/E
2.01
PEG
30.6%
ROCE
23.5%
ROE
0.00
D/E
76.9%
OPM
0.0%
% from 52W High
83
α RS
🔍 IBKR is showing a high-conviction setup because it matches 27 of 37 tracked screener presets, RS Rating is 83, and an ECS of 65.2 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating ECS
Sources
Conviction 27/37 · RS Rating 83 · ECS 65.2
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🌏 Global Investor Returns
Currency-adjusted total returns for IBKR including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Sector Averages
About

Interactive Brokers Group, Inc. operates as an automated electronic broker in the United States and internationally.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding IBKR
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Manager Shares Value % of Fund Period
Andreas Halvorsen Viking Global Investors 1.39M $93.5M 0.26% Mar 2026
Jim Simons Renaissance Technologies LLC 461.7K $31.0M 0.05% Mar 2026
Steve Cohen Point72 Asset Management 61.7K $4.1M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Commissions
Record
+30% YoY
Net interest income
Over $1.0B
+23% YoY
Other fees and services
$87M
+40% YoY
Pre-tax margin
77%
7th consecutive quarter above 70%
Customer DARTs
4.8M/day
+36% YoY
What Went Right
  • Record total net revenue, record commissions (+30% YoY) and net interest income over $1B (+23% YoY), with pre-tax margin of 77%.
  • Customer DARTs hit 4.8M/day (+36% YoY), client equity reached $930B (+40% YoY) and uninvested customer cash was a record $182B (+27% YoY).
  • Account growth was 34% YoY, overnight trading nearly tripled to 10.9M trades, and Korea/Europe launches added new sources of volume.
What to Watch
  • Execution, clearing and distribution costs rose 22% YoY to $142M, including renewed SEC regulatory fees of $34M; excluding SEC fees, costs were up 7%.
  • Rate sensitivity is meaningful: a 25bp Fed funds cut would reduce annual net interest income by ~$81M and a 25bp non-USD benchmark cut by ~$38M.
  • Despite higher marketing spend, management said yield is roughly the same, and no explicit forward guidance or acquisition targets were provided.
Management Guidance
  • No quantitative revenue or operating margin guidance for Q3/FY was provided on the call.
  • National trust bank expected to be operational by year-end after receiving OCC conditional approval.
  • Management plans to introduce fully autonomous agentic trading with guardrails and testing in the future.
Investor Lens
Stronger. The call reinforces a scaled, profitable growth story: revenue records across fee lines, 77% pre-tax margin, and no dilution in DARTs despite 34% account growth. The balance sheet remains conservative with no long-term debt and ~$10.3B of excess capital. Key watch items are marketing spend efficiency and rate sensitivity, but new products and a strong introducing-broker pipeline support durable expansion.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record quarter with 77% pre-tax margin and 36% DART growth.
Revenue
Record total net revenue, though the absolute amount was not disclosed. Commissions rose 30% YoY, GAAP net interest income rose 23% to over $1B, and other fees/services rose 40% to $87M.
Profitability
Net income was not disclosed on the call. Pre-tax margin was 77% as reported and adjusted; income taxes were $118M, split $54M public-company and $64M operating-company.
Margins
Pre-tax margin was 77%, marking the seventh consecutive quarter above 70%. Gross transactional profit margin was 83%, and compensation expense was 10% of adjusted net revenues, down from 11% last year.
Balance Sheet
Total assets rose 36% YoY to $247B and firm equity rose 20% to $22.3B. The company has no long-term debt; excess capital is ~$10.3B, up ~$1.1B QoQ, and investment duration remained under 30 days.
Key Risks
Analysts questioned dilution from rapid account growth; management said no dilution so far but acknowledged the strong tape helps. Rate sensitivity is key: a 25bp Fed funds cut would reduce annual NII by ~$81M and a 25bp non-USD cut by ~$38M. Marketing yield has not improved despite higher spend.
Outlook
No numeric guidance was provided. Management expects the national trust bank to be operational by year-end and plans to launch fully autonomous agentic trading with guardrails in the future.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-21
Record revenues and pre-tax income were achieved, driven by strong trading activity, margin lending, and new product launches. Account growth was robust globally, with significant expansion in Korea and Europe, and AI integration enhanced client engagement. Pre-tax margin remained at 77%.
Q1 2026 Q1 2026 2026-04-21
Record net revenues and strong account growth were achieved despite a 5% S&P 500 decline. AI-driven enhancements, expanded crypto offerings, and a higher dividend supported robust client engagement and profitability. Pre-tax margin remained high at 77%.
Q4 2025 Q4 2025 2026-01-20
Achieved record financial results in Q4 2025, with over 1 million new accounts and client equity up 37% year-over-year. Net revenues and pre-tax margins set new highs, driven by strong trading volumes and global expansion, while AI-powered platform enhancements and new product launches supported growth.
Q3 2025 Q3 2025 2025-10-16
Record net revenues and pre-tax income were driven by robust organic account growth, surging trading volumes, and expanding product offerings. Margin balances and client equity reached all-time highs, while new crypto and forecast contract features fueled further engagement.
Q2 2025 Q2 2025 2025-07-17
Record financial results driven by strong trading volumes, net new account growth, and platform enhancements. Pre-tax margin reached 75%, with robust international and overnight trading growth, and continued expansion in digital assets and product offerings.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Information Sources:
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