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Interactive Brokers
(NASDAQ:IBKR)
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Rating:77Outperform
Price Target:
$106.00
▲(29.73% Upside)
Action:Reiterated
Date:05/10/26
Score is driven primarily by strong financial performance (high profitability and strong TTM cash generation) and a solid technical uptrend (price above key moving averages with positive momentum). Offsetting factors are balance-sheet leverage risk and a less compelling valuation profile (higher P/E and low dividend yield), despite a positive earnings call that reinforces growth and margin strength while acknowledging rate sensitivity.
Positive Factors
Exceptional Profitability
Sustained pretax margins above 70% reflect durable operating efficiency from a highly automated trading and clearing platform. High structural margins allow funding of strategic initiatives, consistent capital returns and cushion against cyclical revenue dips, supporting long-term ROIC.
Negative Factors
Elevated & Volatile Leverage
High and swinging leverage metrics increase sensitivity to funding conditions and market stress. If liquidity tightens or asset marks shift, elevated debt amplifies downside risk to capital ratios and could force defensive actions that constrain strategic flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Exceptional Profitability
Sustained pretax margins above 70% reflect durable operating efficiency from a highly automated trading and clearing platform. High structural margins allow funding of strategic initiatives, consistent capital returns and cushion against cyclical revenue dips, supporting long-term ROIC.
Read all positive factors
Interactive Brokers Key Performance Indicators (KPIs)
Any
Total Customer Accounts
Tracks the total number of customer accounts, indicating the company’s market reach and growth in user base, which can drive future revenue.
Tracks the total number of customer accounts, indicating the company’s market reach and growth in user base, which can drive future revenue.
Data provided by:
The Fly
The FlyInteractive Brokers (IBKR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.69B
Dividend Yield0.46%
Average Volume (3M)5.09M
Price to Earnings (P/E)39.0
Beta (1Y)1.70
Revenue Growth12.92%
EPS Growth28.20%
CountryUS
Employees3,027
SectorFinancial
Sector Strength70
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)2.34
Shares Outstanding445,484,380
10 Day Avg. Volume4,578,564
30 Day Avg. Volume5,085,930
Financial Highlights & Ratios
PEG Ratio1.05
Price to Book (P/B)5.34
Price to Sales (P/S)2.80
P/FCF Ratio1.82
Enterprise Value/Market Cap0.39
Enterprise Value/Revenue1.48
Enterprise Value/Gross Profit1.61
Enterprise Value/Ebitda1.67
Forecast
1Y Price Target
$92.14Price Target Upside12.77% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)2.53
Revenue Forecast (FY)$7.05B
Interactive Brokers Business Overview & Revenue Model
Company Description
Interactive Brokers Group, Inc. operates as a sophisticated electronic brokerage, serving clients across the United States and globally. This firm manages the trading, clearing, and settlement for a broad spectrum of financial instruments, includi...
How the Company Makes Money
IBKR primarily earns revenue from (1) net interest income, (2) commissions and order-related execution/clearing fees, and (3) fees tied to securities lending and other brokerage services.
1) Net interest income (interest on client balances and ma...
Interactive Brokers Earnings Call Summary
Earnings Call Date:Apr 21, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 21, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive tone driven by record net revenues, strong net interest income, exceptional profitability (77% pretax margin), robust customer growth and multi-product volume expansion. Strategic investments in AI, crypto and prediction markets signal growth initiatives. Key risks highlighted include market volatility, sensitivity of net interest income to benchmark rate declines (25 bps U.S. cut estimated to cut annual NII by ~$80M), early-stage adoption and monetization of crypto products, and some expense/other-income volatility. Overall, the company appears to be growing efficiently and returning capital while acknowledging rate and product adoption risks.Positive Updates
Record Net Revenues and Commissions
Company reported record net revenues; commission revenue rose 19% year-over-year, exceeding $600 million for the first time. Commission per cleared commissionable order was $2.69, slightly up year-over-year.
Negative Updates
Market Headwinds in Q1
Global markets weakened late in the quarter: S&P 500 down 5%. The 'Magnificent 7' technology stocks declined more than the broader index, creating mixed market performance despite healthy account funding and activity.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Net Revenues and Commissions
Company reported record net revenues; commission revenue rose 19% year-over-year, exceeding $600 million for the first time. Commission per cleared commissionable order was $2.69, slightly up year-over-year.
Read all positive updates
Company Guidance
Management reiterated confidence in scaling the business while returning capital, raising the dividend to $0.35/year (from $0.32) and sustaining industry‑leading profitability (Q1 pretax margin 77%, sixth consecutive quarter above 70%), driven by record net revenues—commissions topped $600M (+19% YoY), GAAP net interest income was $904M (+17%, NIM table $953M, +20%), other fees $86M (+10%) and adjusted other income $77M. They highlighted balance‑sheet and activity strength (total assets $219B, +39% YoY; firm equity $21.3B, +23%; client equity $789B, +38%; uninvested cash $169B, +35%; margin loans $86.6B; DARTs 4.4M, +24%; stock share volumes +25%, options +16%, futures +20% to a record; overnight trades 8.1M from 2.8M YoY) and provided rate sensitivity guidance—a 25 bp U.S. cut ≈ $80M annual NII reduction, a 25 bp non‑USD cut ≈ $35M—and noted the SEC fee change to $20.60 per million is a pass‑through.Interactive Brokers Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.62B | 10.23B | 9.32B | 7.79B | 4.19B | 2.94B |
| Gross Profit | 9.75B | 9.19B | 8.29B | 6.87B | 3.41B | 2.31B |
| EBITDA | 9.42B | 9.09B | 7.99B | 6.60B | 3.11B | 2.09B |
| Net Income | 1.04B | 984.00M | 755.00M | 600.00M | 380.00M | 308.00M |
Balance Sheet | ||||||
| Total Assets | 218.75B | 203.24B | 150.14B | 128.25B | 115.14B | 109.11B |
| Cash, Cash Equivalents and Short-Term Investments | 58.50B | 4.96B | 3.63B | 3.75B | 3.44B | 2.40B |
| Total Debt | 32.03B | 19.00M | 16.26B | 11.36B | 8.96B | 11.80B |
| Total Liabilities | 197.49B | 182.77B | 133.54B | 114.18B | 103.53B | 98.89B |
| Stockholders Equity | 5.58B | 5.36B | 4.28B | 3.58B | 2.85B | 2.40B |
Cash Flow | ||||||
| Free Cash Flow | 16.76B | 15.74B | 8.68B | 4.50B | 3.90B | 5.82B |
| Operating Cash Flow | 16.84B | 15.81B | 8.72B | 4.54B | 3.97B | 5.90B |
| Investing Cash Flow | -157.00M | -171.00M | -44.00M | -52.00M | -67.00M | -188.00M |
| Financing Cash Flow | -1.06B | -969.00M | -833.00M | -624.00M | -470.00M | -523.00M |
Interactive Brokers Technical Analysis
Positive
81.71
Price Trends
86.03
Positive
78.62
Positive
73.38
Positive
Market Momentum
1.58
Positive
54.03
Neutral
34.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBKR, the sentiment is Positive. The current price of 81.71 is below the 20-day moving average (MA) of 90.66, below the 50-day MA of 86.03, and above the 200-day MA of 73.38, indicating a bullish trend. The MACD of 1.58 indicates Positive momentum. The RSI at 54.03 is Neutral, neither overbought nor oversold. The STOCH value of 34.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IBKR.
Interactive Brokers Risk Analysis
Interactive Brokers disclosed 38 risk factors in its most recent earnings report. Interactive Brokers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Interactive Brokers Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $23.48B | 24.33 | 13.64% | 0.45% | 18.26% | 66.10% | |
77 Outperform | $40.69B | 39.03 | 19.89% | 0.46% | 12.92% | 28.20% | |
74 Outperform | $31.70B | 15.08 | 17.21% | 1.26% | 5.83% | 1.44% | |
71 Outperform | $26.06B | 21.21 | 24.63% | 1.06% | 10.61% | 53.46% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $27.03B | 16.62 | 20.98% | 1.14% | 0.92% | ― | |
62 Neutral | $23.61B | 26.21 | 17.04% | 0.32% | 38.08% | -22.75% |
* Financial Sector Average
IBKR
Interactive Brokers
91.33
33.62
58.25%
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Interactive Brokers Corporate Events
Executive/Board ChangesShareholder Meetings
Interactive Brokers Shareholders Back Board, Compensation and Incentive Plan
Positive
Apr 29, 2026
Interactive Brokers Group, Inc. held its annual meeting of stockholders on April 23, 2026, where shareholders elected ten directors to the board for one-year terms ending at the 2027 annual meeting. All nominees, including founder Thomas Peterffy ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.