Interactive Brokers (IBKR)
Financials · $156B market cap · SEC CIK 0001381197
fundamentals score out of 100
Next reports on Oct 14, 2026, after the close, with analysts expecting $0.70 in earnings per share.
The case for IBKR
- Revenue growing 15.8% year over year.
- Earnings per share up 31.5%.
- Has compounded revenue at 33.3% a year over five years.
- Return on equity of 21%.
- Gross margin of 57% absorbs cost shocks.
- Up 43.3% over the past year.
The case against
- Very expensive at 138.3× earnings. Years of growth are already in the price.
- Priced at 13.7× sales, which leaves no room for a stumble.
- Priced at 25× book value. Very little hard asset backing here.
- Growth is slowing: revenue up 15.8% this year against 33.3% a year over five.
- Stability is weak (29/100): beta 1.36, a 40% swing over the year.
- Net margin of 10% is thinner than 85% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 8 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 89 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 46 |
| Momentumhow the price has behaved lately | 70 |
| Stabilityhow violently it moves, what it owes and what it pays you | 29 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 138.3× |
|---|---|
| Price / book | 25.01× |
| Price / sales | 13.7× |
| Revenue growth (YoY) | +15.8% |
| EPS growth (YoY) | +31.5% |
| Gross margin | 57% |
| Operating margin | 47% |
| Net margin | 10% |
| Return on equity | 21% |
| Debt / equity | 7.69× |
| Current ratio | 0.97 |
| Dividend yield | 0.49% |
| Beta | 1.36 |
| 52-week range | $58.95 – $98.75 |
| Position in that range | 83% of the way up |
| 3-month return | -2.9% |
| 1-year return | +43.3% |
Five years of financials, as filed
Pulled from Interactive Brokers's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $2.4B | $2.0B | $1.6B | $1.5B | $1.6B |
| Operating cash flow | $15.8B | $8.7B | $4.5B | $4.0B | $5.9B |
| Total assets | $203B | $150B | $128B | $115B | $109B |
| Total liabilities | $183B | $134B | $114B | $104B | $98.9B |
| Shareholder equity | $5.4B | $4.3B | $3.6B | $2.8B | $2.4B |
| Cash | $5.0B | $3.6B | $3.8B | $3.4B | $2.4B |
| Diluted shares | 444M | 436M | 423M | 101M | 95.0M |
What Interactive Brokers says it does
Risk Management Activities" for more information. Risks Related to Laws, Regulations and Litigation Our f uture efforts to sell shares or raise additional capital may be delayed or prohibited by regulations. As certain of our subsidiaries are members of FINRA, we are subject to certain regulations regarding changes in control of our ownership. FINRA Rule 1017 generally provides that FINRA approval must be obtained in connection with any transaction resulting in a change in control of a member firm. FINRA defines control as ownership of 25% or more of the firm’s equity by a single entity or person and would include a change in control of a parent company. Interactive Brokers Canada, Inc., Interactive Brokers (U.K.) Limited, Interactive Brokers Ireland Limited, IBKR Financial Services AG, Interactive Brokers Hong Kong Limited, and Interactive Brokers Singapore Pte. Ltd. are subject to similar change in control regulations promulgated by…
Risk factors IBKR lists in its 10-K
- rading Volumes and Customer Statistics
- (in millions, except share and per share amounts)
- Year Ended December 31, 2025 ("current year") compared to the Year Ended December 31, 2024 ("prior year")
- Interest Income and Interest Expense
- Average interest-bearing liabilities
- Execution, Clearing and Distribution Fees
- Occupancy, Depreciation and Amortization
- Year Ended December 31, 2024 compared to the Year Ended December 31, 2023
- Adjusted net revenues (in millions)
- Adjusted income before income taxes (in millions)
- Adjusted net income available for common stockholders (in millions)
- Adjusted diluted EPS (in dollars, except share amounts)
- Investments in U.S. Government Securities
- Strategic Investments and Acquisitions