Interactive Brokers Group, Inc.IBKR
NasdaqGS•Financial Services•Capital Markets
Interactive Brokers Group, Inc. operates as an automated electronic broker in the United States and internationally. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, precious metals, and cryptocurrencies; and the company provides custody, prime brokerage, securities, and margin lending services. It also offers custody and service accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors. In addition, the company provides trading platforms, including IBKR Trader Workstation, IBKR Desktop, IBKR Mobile, and IBKR Client Portal platform, as well as IBKR GlobalTrader mobile application, and IBKR APIs, builds custom trading applications and automates any part of the trading process. Further, it offers IBKR Pro, IBKR Lite, IBKR Universal Account, insured bank deposit sweep program, investors' marketplace, mutual fund marketplace, bond marketplace, forecast and event contracts, fractional trading, no transaction fee program for exchange-traded funds, overnight trading hours, and karta visa infinite charge card. It serves institutional and individual customers through electronic exchanges and market centers. Interactive Brokers Group, Inc. was founded in 1977 and is headquartered in Greenwich, Connecticut.
Interactive Brokers Group, Inc. (IBKR) reported trailing twelve months revenue of $10.39B as of March 2026, a 10.8% increase year-over-year. Quarterly revenue reached $2.71B, reflecting continued top-line momentum.
Interactive Brokers Group, Inc. generated $4.33B in TTM net income, with quarterly EBITDA of $1.29B. The operating margin expanded from 42.6% to 47.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (47.5%) and net margin (43.2%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 39.7% a year ago, signaling stronger bottom-line efficiency.
IBKR trades at a P/E of 6.6x (below the broader market average) and a P/S of 2.7x. The price-to-book ratio of 1.3x reflects a moderate premium to book value.
The company generated $3.61B in free cash flow over the trailing twelve months, a 96.5% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $218.75B in total assets with no in long-term debt against $21.26B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~42.6%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 20.4% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~26.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~45.7% — no sign of cost or pricing stress.
FCF covers net income by 3.4x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 4.0% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation