NASDAQ: IBKR
Interactive Brokers
Financials · Security Brokers, Dealers & Flotation Companies
52-week range
$58.95$98.75
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$39.4B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.48B |
| FY2017, ended Dec 31, 2017 | $4.23B |
| FY2018, ended Dec 31, 2018 | $4.10B |
| FY2019, ended Dec 31, 2019 | $3.17B |
| FY2020, ended Dec 31, 2020 | $4.35B |
| FY2021, ended Dec 31, 2021 | $7.80B |
| FY2022, ended Dec 31, 2022 | $7.45B |
| FY2023, ended Dec 31, 2023 | $8.88B |
| FY2024, ended Dec 31, 2024 | $19.2B |
| FY2025, ended Dec 31, 2025 | $28.6B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $39.4B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$6.86B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.48B |
| FY2017, ended Dec 31, 2017 | $1.93B |
| FY2018, ended Dec 31, 2018 | $2.37B |
| FY2019, ended Dec 31, 2019 | $2.58B |
| FY2020, ended Dec 31, 2020 | $2.22B |
| FY2021, ended Dec 31, 2021 | $2.71B |
| FY2022, ended Dec 31, 2022 | $3.07B |
| FY2023, ended Dec 31, 2023 | $4.34B |
| FY2024, ended Dec 31, 2024 | $5.18B |
| FY2025, ended Dec 31, 2025 | $6.21B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.86B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.13B
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| Period | Net income |
|---|---|
| FY2016, ended Dec 31, 2016 | $84.0M |
| FY2017, ended Dec 31, 2017 | $76.0M |
| FY2018, ended Dec 31, 2018 | $169M |
| FY2019, ended Dec 31, 2019 | $161M |
| FY2020, ended Dec 31, 2020 | $195M |
| FY2021, ended Dec 31, 2021 | $308M |
| FY2022, ended Dec 31, 2022 | $380M |
| FY2023, ended Dec 31, 2023 | $600M |
| FY2024, ended Dec 31, 2024 | $755M |
| FY2025, ended Dec 31, 2025 | $984M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.13B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$7.71B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.93B |
| FY2017, ended Dec 31, 2017 | $1.73B |
| FY2018, ended Dec 31, 2018 | $2.60B |
| FY2019, ended Dec 31, 2019 | $2.88B |
| FY2020, ended Dec 31, 2020 | $4.29B |
| FY2021, ended Dec 31, 2021 | $2.40B |
| FY2022, ended Dec 31, 2022 | $3.44B |
| FY2023, ended Dec 31, 2023 | $3.75B |
| FY2024, ended Dec 31, 2024 | $3.63B |
| FY2025, ended Dec 31, 2025 | $4.96B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $7.71B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$13.0M
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $74.0M |
| FY2017, ended Dec 31, 2017 | $15.0M |
| FY2018, ended Dec 31, 2018 | $17.0M |
| FY2019, ended Dec 31, 2019 | $16.0M |
| FY2020, ended Dec 31, 2020 | $118M |
| FY2021, ended Dec 31, 2021 | $27.0M |
| FY2022, ended Dec 31, 2022 | $18.0M |
| FY2023, ended Dec 31, 2023 | $17.0M |
| FY2024, ended Dec 31, 2024 | $14.0M |
| FY2025, ended Dec 31, 2025 | $19.0M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $13.0M |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 66.6% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.453M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 272M |
| FY2017, ended Dec 31, 2017 | 286M |
| FY2018, ended Dec 31, 2018 | 300M |
| FY2019, ended Dec 31, 2019 | 272M |
| FY2020, ended Dec 31, 2020 | 286M |
| FY2021, ended Dec 31, 2021 | 393M |
| FY2022, ended Dec 31, 2022 | 412M |
| FY2023, ended Dec 31, 2023 | 428M |
| FY2024, ended Dec 31, 2024 | 436M |
| FY2025, ended Dec 31, 2025 | 445M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 453M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$124M
Net: $124M more issued than bought back
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| Period | Paid to employees |
|---|---|
| FY2016, ended Dec 31, 2016 | $51.0M |
| FY2017, ended Dec 31, 2017 | $53.0M |
| FY2018, ended Dec 31, 2018 | $58.0M |
| FY2019, ended Dec 31, 2019 | $60.0M |
| FY2020, ended Dec 31, 2020 | $65.0M |
| FY2021, ended Dec 31, 2021 | $80.0M |
| FY2022, ended Dec 31, 2022 | $92.0M |
| FY2023, ended Dec 31, 2023 | $100M |
| FY2024, ended Dec 31, 2024 | $112M |
| FY2025, ended Dec 31, 2025 | $118M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $124M |
Revenue (TTM)
$6.86B
+21.3% YoY
Net income (TTM)
$1.13B
+34.4% YoY
Cash
$7.71B
+64.5% YoY
Total debt
$13.0M
+62.5% YoY
Valuation
At current price- Market Cap
- $34.8B
- P/E
- 30.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 5.1×
- Price / Book
- 5.9×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $6.86B
- Revenue Growth YoY
- 21.3%
- Revenue CAGR 3Y
- 26.5%
- Revenue CAGR 5Y
- 22.8%
- EPS Growth YoY
- 32.6%
- Net Income Growth YoY
- 34.4%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 16.4%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- 21.0%
Earnings
Trailing 12 months- Net Income
- $1.13B
- EPS (diluted)
- $2.52
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $7.71B
- Total Debt
- $13.0M
- Net Cash
- $7.70B
- Total Assets
- $247B
- Total Liabilities
- $225B
- Shareholders' Equity
- $5.90B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $15.9B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 0.4%
- Dividend / Share
- $0.34
- Beta (5Y)
- 1.36
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 21.3% year over year, at $6.86B.
Note
Net margin of 16.4% over the last 12 months.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 27, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K70Good news
70Good news
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 27, 2025 · Read the filing on EDGAR
- Net revenues rose 19% to $5,185 million and pre-tax income rose 20% to $3,695 million. Pre-tax margin held at 71%.
- Commissions jumped 25% on much heavier trading: daily trades rose 36%, and options volume rose 32%. Net interest income growth slowed to 13%.
- Accounts grew 30% to 3.34 million and customer equity rose 33% to $568 billion.
- The Fed cut rates by 1 percentage point in late 2024. Legal and regulatory costs rose $57 million, and a NYSE glitch cost $48 million.
Business momentum
Strong improvement
“Income before income taxes, for the current year, increased $626 million, or 20%, compared to the prior year, to $3,695 million.”
Outlook
Neutral
“Retail transaction volumes may not be sustainable and are not predictable.”
Financial stress
None
“As of December 31, 2024, total assets were $150.1 billion of which approximately $148.9 billion, or 99.2%, were considered liquid.”
Tone against the previous report
About the same
Red flags
- Minor
Other
“partially offset by a $48 million loss on positions taken over as customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024”
- Minor
Other
“primarily due to a $57 million increase related to legal and regulatory matters, a $20 million increase in advertising expenses”
Positives
Commission revenue surged on trading activity
“Commission revenue increased 25% from the prior year to $1,697 million on higher options, stock and futures volumes.”
Rapid customer growth
“Total Accounts (in thousands) 3,337 2,562 30%”
Strong cash generation and higher dividend
“Starting in the second quarter of 2024, we increased the quarterly cash dividend from $0.10 per share to $0.25 per share.”
Concerns
Expected rising regulatory fines
“In the current climate, we expect to pay significant and increasing regulatory fines on various topics on an ongoing basis, as other regulated financial services businesses do.”
Lower commission per order
“Average commission per commissionable order for cleared customers, for the current year, decreased 9% to $2.86, compared to $3.14 for the prior year”
Currency strategy hurt comprehensive earnings
“In the current year, our currency diversification strategy decreased our comprehensive earnings by $222 million (compared to an increase of $42 million in the prior year)”
New risks since the previous report
Rate cuts begin to squeeze interest income
“the U.S. Federal Reserve cut the benchmark federal funds rate three times in 2024 (in September, November and December), by a cumulative 100 basis points.”
AI-driven competitors
“Competitors who advance in this space may be able to offer superior products and services and may materially adversely affect our business, financial condition and results of operations.”
Sharp drop in securities-lending income
“During the current year, net interest earned from securities lending transactions decreased $184 million, or 67%, compared to the prior year”
Global minimum tax raising tax costs
“higher income tax rates in Europe following the adoption of the minimum effective tax rate of 15% on January 1, 2024”
New regulatory fees on trading
“a $55 million increase in regulatory fees due to an increase in the SEC fee rate effective May 22, 2024, a new FINRA Consolidated Audit Trail (“CAT”) fee initiated in October 2024”
Biggest risks named
- Falling interest rates reducing net interest income
- Trading volumes and retail activity may not last
- Rising regulatory fines and compliance costs
- Customer defaults and systemic market events
- Geopolitical exposure in China/Hong Kong and Russia
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | +2 | |
| Red flags | −1.8 | |
| New risks | −2 | |
| Score | 70 | |
Written by AI (Claude Opus 5.5) from the report’s text. 16 of 16 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 27, 2026 | Pro | |||
| 10-K | Feb 27, 2025 | 70 | Strong improvement | 2 minor | |
| 10-K | Feb 27, 2024 | 73 | Strong improvement | 1 minor | |
| 10-K | Feb 24, 2023 | 66 | Improving | None | |
| 10-K | Feb 25, 2022 | 74 | Strong improvement | None | |
| 10-K | Mar 1, 2021 | 63 | Improving | 1 medium1 minor | |
| 10-K | Feb 28, 2020 | 55 | Stable | 1 minor | |
| 10-K | Feb 28, 2019 | 70 | Strong improvement | 2 minor | |
| 10-K | Mar 1, 2018 | 73 | Strong improvement | 1 minor | |
| 10-K | Feb 28, 2017 | 73 | Strong improvement | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 6, 2026. View filings on SEC EDGAR