IBKR Interactive Brokers Group, Inc. - Class A Common Stock

NASDAQ · Financial Services · Auf SEC EDGAR ansehen ↗
$92,60
Kurs · Aug 21, 2026
Fundamentaldaten per Aug 6, 2026

IBKR Aktien-Snapshot Kurs, Marktkapitalisierung, P/E, EPS, ROE, Schulden/Eigenkapital, 52-Wochen-Spanne

Kurs
$92.60
Marktkapitalisierung
P/E (TTM)
29.0
EPS (TTM)
$2.22
Umsatz (TTM)
$2.44B
Dividendenrendite
ROE
Verschuldungsgrad
52W-Spanne
$59 – $98

IBKR Aktienkurs-Chart Täglich OHLCV mit technischen Indikatoren — Schwenken, Zoom und Ansicht anpassen

10-Jahres-Performance Umsatz-, Nettoergebnis-, Margen- und EPS-Trends

Umsatz & Nettoergebnis $2.44B
9-point trend, +26.6%
2017-12-31 2025-12-31
EPS $2.22
9-point trend, +107.5%
2017-12-31 2025-12-31
Freier Cashflow
Margen

Bewertung P/E-, P/S-, P/B-, EV/EBITDA-Verhältnisse — ist die Aktie teuer oder günstig?

Kennzahl
5-Jahres-Trend
IBKR
Peer-Median
P/E (TTM)
5-point trend, +372.7%
29.0
17.6

Rentabilität Brutto-, Betriebs- und Nettomargen; ROE, ROA, ROIC

Kennzahl
5-Jahres-Trend
IBKR
Peer-Median

Finanzielle Gesundheit Verschuldung, Liquidität, Solvenz — Bilanzstärke

Kennzahl
5-Jahres-Trend
IBKR
Peer-Median

Wachstum Umsatz-, EPS- und Nettoergebniswachstum: YoY, 3-Jahres-CAGR, 5-Jahres-CAGR

Kennzahl
5-Jahres-Trend
IBKR
Peer-Median
Revenue YoY (Umsatz YoY)
5-point trend, +55.6%
23.4%
Revenue CAGR 3Y (Umsatz CAGR 3J)
5-point trend, +55.6%
17.4%
Revenue CAGR 5Y (Umsatz CAGR 5J)
5-point trend, +55.6%
13.7%
EPS YoY (EPS VjV)
5-point trend, -31.5%
28.3%
Net Income YoY (Nettogewinn YoY)
5-point trend, +166.3%
27.9%

Kennzahlen pro Aktie EPS, Buchwert pro Aktie, Cashflow pro Aktie, Dividende pro Aktie

Kennzahl
5-Jahres-Trend
IBKR
Peer-Median
EPS (Diluted) (EPS (Verwässert))
5-point trend, -31.5%
$2.22

Kapitaleffizienz Umsatz pro Vermögenswert, Lagerumschlag, Forderungsumschlag

Kennzahl
5-Jahres-Trend
IBKR
Peer-Median

Dividenden Rendite, Ausschüttungsquote, Dividendenhistorie, 5-Jahres-CAGR

Dividendenrendite
Ausschüttungsquote
5J Div CAGR
Ex-DatumBetrag
1. Juni 2026$0,0880
27. Februar 2026$0,0800
1. Dezember 2025$0,0800
29. August 2025$0,0800
30. Mai 2025$0,0800
28. Februar 2025$0,0625
29. November 2024$0,0625
30. August 2024$0,0625
31. Mai 2024$0,0625
29. Februar 2024$0,0250
30. November 2023$0,0250
31. August 2023$0,0250
31. Mai 2023$0,0250
28. Februar 2023$0,0250
30. November 2022$0,0250
31. August 2022$0,0250
31. Mai 2022$0,0250
28. Februar 2022$0,0250
30. November 2021$0,0250
31. August 2021$0,0250

IBKR Analysten-Konsens Bullische und bärische Analystenmeinungen, 12-Monats-Kursziel, Aufwärtspotenzial

KAUF 20 Analysten
  • Starker Kauf 6 30,0%
  • Kauf 11 55,0%
  • Halten 3 15,0%
  • Verkauf 0 0,0%
  • Starker Verkauf 0 0,0%

12-Monats-Kursziel

12 Analysten · 2026-08-22
Median-Ziel $109.50 +18,3%
Mittelwert-Ziel $106.13 +14,6%

Ergebnisverlauf EPS Ist vs. Schätzung, Überraschung %, Beat-Rate, nächstes Ergebnisdatum

Durchschn. Überraschung
0.02%
Zeitraum EPS Actual EPS est. Überraschung
30. Juni 2026 $0.69 $0.65 0.04%
31. März 2026 $0.60 $0.61 -0.01%
31. Dezember 2025 $0.65 $0.60 0.05%
30. September 2025 $0.57 $0.55 0.02%
30. Juni 2025 $0.51 $0.47 0.04%
31. März 2025 $0.47 $0.49 -0.02%

Peer-Vergleich (GICS-Subbranche) Wichtige Kennzahlen im Vergleich zu Branchenkollegen

Ticker Marktkapitalisierung P/E Umsatz Vj. Nettomarge ROE Bruttogewinnmarge
IBKR 29.0 23.4%
MS $281.00B 17.4 14.4% 23.9% 15.6%
GS $260.60B 17.1 8.9% 29.5% 13.9%
SCHW $207.21B 21.5 22.0% 37.0% 17.9%
HOOD $101.94B 55.2 51.6% 42.1% 21.9%
RJF $34.20B 16.8 6.6% 13.4% 17.7%
LPLA 32.7 37.2% 5.1% 16.6%
SF 14.2 6.7% 10.8% 11.7%
JEF 20.3 2.9% 6.3% 6.6%
EVR 24.2 29.5% 15.3% 31.7%
FRHC $8.88B 57.7 9.3% 7.0% 11.3%

Vollständige Fundamentaldaten Alle Kennzahlen nach Jahr — Gewinn- und Verlustrechnung, Bilanz, Cashflow

Gewinn- und Verlustrechnung 12
Jährliche Gewinn- und Verlustrechnung-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +118.8% $2.44B $1.98B $1.56B $1.51B $1.57B $1.29B $847M $925M $1.93B $1.48B $1.26B $1.11B
SG&A Expense 4-point trend, +49.7% $247M $314M $211M $165M · · · · · · · ·
Interest Expense 6-point trend, +642.1% · · $3.44B $1.02B $224M $261M $643M $463M · · · ·
Interest Income 12-point trend, +1770.7% $7.78B $7.34B $6.23B $2.69B $1.37B $1.13B $1.73B $1.39B $908M $606M $492M $416M
Pretax Income 12-point trend, +842.9% $4.77B $3.69B $3.07B $2.00B $1.79B $1.26B $1.16B $1.20B $1.05B $761M $458M $506M
Income Tax 12-point trend, +780.9% $414M $288M $257M $156M $151M $77M $68M $71M $256M $62M $43M $47M
Net Income 12-point trend, +849.2% $4.36B $3.41B $2.81B $1.84B $1.64B $1.18B $1.09B $1.12B $793M $699M $415M $459M
EPS (Basic) 12-point trend, +182.3% $2.23 $1.75 $1.43 $3.78 $3.27 $2.44 $2.11 $2.30 $1.09 $1.28 $0.80 $0.79
EPS (Diluted) 12-point trend, +188.3% $2.22 $1.73 $1.42 $3.75 $3.24 $2.42 $2.10 $2.28 $1.07 $1.25 $0.78 $0.77
Shares (Basic) 12-point trend, +680.5% 440,931,909 432,448,796 419,860,200 100,460,016 94,167,572 79,939,289 76,121,570 73,438,209 69,926,933 66,013,247 61,043,071 56,492,381
Shares (Diluted) 12-point trend, +669.1% 443,859,546 436,011,752 423,387,508 101,299,609 95,009,880 80,638,908 76,825,863 74,266,370 70,904,921 67,299,413 62,509,796 57,709,668
EBITDA 10-point trend, +230.3% · · $65M $58M $50M $42M $31M $26M $25M $25M $22M $20M
Bilanz 16
Jährliche Bilanz-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, +291.1% $4.96B $3.63B $3.75B $3.44B $2.40B $4.29B $2.88B $2.60B $1.73B $1.93B $1.60B $1.27B
PP&E (Net) 12-point trend, +87.5% $60M $59M $81M $93M $85M $67M $62M $20M $14M $13M $10M $32M
PP&E (Gross) 12-point trend, +68.5% $123M $110M $161M $151M $125M $97M $75M $33M $26M $22M $27M $73M
Accum. Depreciation 12-point trend, +53.7% $63M $51M $80M $58M $40M $30M $13M $13M $12M $9M $17M $41M
Intangibles 11-point trend, +73.3% $52M $48M $43M $48M $46M $37M $34M $33M $29M $28M $30M ·
Total Assets 12-point trend, +368.5% $203.24B $150.14B $128.25B $115.14B $109.11B $95.68B $71.68B $60.55B $61.16B $54.67B $48.73B $43.38B
Short-term Debt 5-point trend, -52.9% · · · · · · $16M $17M $15M $74M · $34M
Total Liabilities 12-point trend, +378.5% $182.77B $133.54B $114.18B $103.53B $98.89B $86.68B $63.74B $53.39B $54.73B $48.85B $43.39B $38.20B
Total Debt 5-point trend, -52.7% · · · · · · $16M $17M $15M $74M · $34M
Paid-in Capital 12-point trend, +208.2% $1.96B $1.82B $1.73B $1.58B $1.44B $1.24B $934M $898M $832M $775M $718M $635M
Retained Earnings 12-point trend, +2681.0% $3.37B $2.52B $1.85B $1.29B $953M $683M $520M $390M $251M $203M $145M $121M
Treasury Stock 12-point trend, +433.3% $16M $7M $3M $6M $5M $3M $3M $3M $3M $3M $3M $3M
AOCI 11-point trend, +366.7% $56M $-45M $8M $-22M $4M $26M · $-4M $9M $-2M $2M $12M
Stockholders' Equity 12-point trend, +600.1% $5.36B $4.28B $3.58B $2.85B $2.40B $1.95B $1.45B $1.28B $1.09B $974M $863M $766M
Liabilities + Equity 12-point trend, +368.5% $203.24B $150.14B $128.25B $115.14B $109.11B $95.68B $71.68B $60.55B $61.16B $54.67B $48.73B $43.38B
Shares Outstanding 2-point trend, +9.4% · · · · · · · · · · 63,985,335 58,473,186
Cashflow 11
Jährliche Cashflow-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +205.0% $61M $67M $65M $58M $50M $42M $31M $26M $25M $25M $22M $20M
Stock-based Comp 12-point trend, +187.8% $118M $112M $100M $92M $80M $65M $60M $58M $53M $51M $50M $41M
Deferred Tax 12-point trend, +127.8% $41M $-2M $30M $20M $23M $9M $24M $21M $147M $27M $15M $18M
Amort. of Intangibles 5-point trend, +50.0% · · · · · $3M $10M $16M $16M $2M · ·
Other Non-cash 10-point trend, +422.9% · · $1.54B $1.96B $4.11B $6.77B $1.46B $1.13B $-876M $-258M $223M $294M
Operating Cash Flow 12-point trend, +3691.6% $15.81B $8.72B $4.54B $3.97B $5.90B $8.07B $2.67B $2.36B $1.06B $635M $725M $417M
Investing Cash Flow 11-point trend, -415.9% $-171M $-44M $-52M $-67M $-188M $-50M $-89M $-57M $-26M $-6M · $54M
Dividends Paid 12-point trend, +482.6% $134M $92M $42M $40M $38M $32M $31M $29M $28M $26M $25M $23M
Financing Cash Flow 11-point trend, -214.6% $-969M $-833M $-624M $-470M $-523M $-229M $-419M $-399M $-374M $-189M · $-308M
Net Change in Cash 12-point trend, +26796.4% $15.06B $7.64B $3.99B $3.32B $5.09B $7.91B $2.18B $1.82B $730M $415M $332M $56M
Taxes Paid 12-point trend, +754.1% $316M $279M $228M $148M $114M $64M $51M $50M $47M $29M $31M $37M
Rentabilität 5
Jährliche Rentabilität-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Net Margin 10-point trend, +4426.3% · · 180.6% 122.3% 104.3% 91.6% 42.2% 47.5% 41.1% 47.4% 33.0% 4.0%
Pretax Margin 8-point trend, +282.1% · · 197.1% 132.7% 114.0% 97.6% 44.8% 50.5% 54.4% 51.6% · ·
EBITDA Margin 10-point trend, +136.9% · · 4.2% 3.9% 3.2% 3.3% 1.2% 1.1% 1.3% 1.7% 1.8% 1.8%
ROA 10-point trend, +2000.0% · · 2.3% 1.6% 1.6% 1.4% 1.7% 1.8% 1.4% 1.4% 0.90% 0.11%
ROE 10-point trend, +1362.2% · · 87.4% 70.3% 75.3% 69.3% 79.7% 94.9% 76.0% 76.1% 50.9% 6.0%
Liquidität & Solvenz 1
Jährliche Liquidität & Solvenz-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Debt / Equity 5-point trend, -75.1% · · · · · · 0.0 0.0 0.0 0.1 · 0.0
Effizienz 1
Jährliche Effizienz-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Asset Turnover 10-point trend, -52.8% · · 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pro Aktie 6
Jährliche Pro Aktie-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Book Value / Share 2-point trend, +2.9% · · · · · · · · · · $13.49 $13.11
Revenue / Share 10-point trend, -23.9% · · $14.71 $14.87 $16.50 $15.96 $33.58 $31.86 $27.18 $21.92 $20.09 $19.33
Cash Flow / Share 10-point trend, +494.2% · · $42.93 $39.17 $62.06 $100.05 $34.70 $31.72 $2.00 $8.08 $11.60 $7.23
Cash / Share 2-point trend, +15.3% · · · · · · · · · · $25.02 $21.71
Dividend Paid / Share 10-point trend, -75.0% · · $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
EPS (TTM) 12-point trend, +188.3% $2.22 $1.73 $1.42 $3.75 $3.24 $2.42 $2.10 $2.28 $1.07 $1.25 $0.78 $0.77
Wachstumsraten 10
Jährliche Wachstumsraten-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, +7.3% 23.4% 27.0% 3.4% -4.0% 21.8% · · · · · · ·
Revenue CAGR 3Y 3-point trend, +166.4% 17.4% 8.0% 6.6% · · · · · · · · ·
Revenue CAGR 5Y 13.7% · · · · · · · · · · ·
EPS YoY 5-point trend, -16.4% 28.3% 21.8% -62.1% 15.7% 33.9% · · · · · · ·
EPS CAGR 3Y 3-point trend, +1.5% -16.0% -18.9% -16.3% · · · · · · · · ·
EPS CAGR 5Y -1.7% · · · · · · · · · · ·
Net Income YoY 5-point trend, -28.1% 27.9% 21.2% 52.7% 12.6% 38.8% · · · · · · ·
Net Income CAGR 3Y 3-point trend, -1.1% 33.2% 27.7% 33.6% · · · · · · · · ·
Net Income CAGR 5Y 29.9% · · · · · · · · · · ·
Dividend CAGR 5Y 33.2% · · · · · · · · · · ·
Bewertung (TTM) 14
Jährliche Bewertung (TTM)-Daten für IBKR
Kennzahl Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +118.8% $2.44B $1.98B $1.56B $1.51B $1.57B $1.29B $847M $925M $1.93B $1.48B $1.26B $1.11B
Net Income TTM 12-point trend, +849.2% $4.36B $3.41B $2.81B $1.84B $1.64B $1.18B $1.09B $1.12B $793M $699M $415M $459M
Market Cap 2-point trend, +63.6% · · · · · · · · · · $697M $426M
Enterprise Value · · · · · · · · · · · $-809M
P/E 12-point trend, +206.0% 29.0 25.5 14.6 4.8 6.1 6.3 5.5 6.0 13.8 7.3 14.0 9.5
P/S 2-point trend, +45.3% · · · · · · · · · · 0.6 0.4
P/B 2-point trend, +45.3% · · · · · · · · · · 0.8 0.6
P / Cash Flow 2-point trend, -5.9% · · · · · · · · · · 1.0 1.0
EV / EBITDA · · · · · · · · · · · -41.1
EV / Revenue · · · · · · · · · · · -0.7
Dividend Yield 2-point trend, -33.7% · · · · · · · · · · 3.6% 5.4%
Earnings Yield 12-point trend, -67.3% 3.5% 3.9% 6.9% 20.7% 16.3% 15.9% 18.0% 16.7% 7.2% 13.7% 7.2% 10.6%
Payout Ratio 10-point trend, -97.1% · · 1.5% 2.2% 2.3% 2.7% 2.9% 2.6% 3.5% 3.7% 6.0% 51.0%
Annual Payout 12-point trend, +482.6% $134M $92M $42M $40M $38M $32M $31M $29M $28M $26M $25M $23M

Finanzberichte Gewinn- und Verlustrechnung, Bilanz, Cashflow — jährlich, letzte 5 Jahre

Gewinn- und Verlustrechnung
2025-12-312025-06-302024-12-312023-12-312022-12-31
Umsatz $2.44B$1.98B$1.56B$1.51B
Nettoergebnis $4.36B$3.41B$2.81B$1.84B
Verwässerte EPS $2.22$1.73$1.42$3.75

IBKR KI-Analysten-Panel — Bullische und bärische Ansichten 2026Q2-Debatte: Claude, Grok, Gemini, ChatGPT zu den Aussichten der Aktie

Runde 1 – Eröffnungs-Takes

Grok NEUTRAL 0,75
↑ Bullish

I see Interactive Brokers winning the brokerage wars with its low-cost tech platform, pulling in retail and crypto traders as volumes surge into 2026. Its ROE sits at 19.6%, above the peer median, which means IBKR squeezes more profit from each dollar of equity than big banks like MS or GS. Net margin climbed to 9.06%, signaling better cost control and pricing power amid rising trades. The stock rocketed from $39 to $58 in recent months, my read is momentum confirms client growth.

↓ Abwärtstrend

IBKR's lofty valuation leaves no room for error if trading volumes stall in a 2026 slowdown. P/E TTM at 118.9 towers over peers like SCHW at 18, so any earnings miss crushes the multiple fast. Debt-to-equity ballooned to 547%, exposing the balance sheet to interest rate spikes or market shocks. Current ratio of 0.97 dips below 1, hinting at potential cash crunches for client payouts.

Claude NEUTRAL 0,62
↑ Bullish

Interactive Brokers has built a durable, high-margin franchise that is finally translating into earnings growth. Net margin expanded to 9.06% from 8.57% last quarter, and EPS rose to $2.08 from $1.91 — real profit acceleration, not just multiple expansion. The 54.41% gross margin tells you pricing power is intact even as competition intensifies. At a $109 billion market cap, the stock has room to re-rate if the market recognizes that automated execution at scale is a defensible moat. Crypto adoption tailwinds (per March news) add optionality.

↓ Abwärtstrend

This valuation is a house of cards built on leverage. The P/E of 119 is nearly 7 times Morgan Stanley's and 6.5 times Charles Schwab's — you're paying for perfection in a business that is not perfect. Debt-to-equity exploded to 547, up from 440 last quarter, which means IBKR is borrowing aggressively to juice returns. That 19.6% ROE looks impressive until you realize it's amplified by financial engineering, not operational excellence. A current ratio of 0.97 leaves almost no liquidity cushion. One market shock or regulatory headwind and this leverage becomes a liability, not a feature.

Gemini BEARISH 0,85
↑ Bullish

Interactive Brokers is effectively scaling its platform to capture a larger share of the sophisticated trader market, driving consistent profitability. The company is delivering a 19.6% return on equity. This metric shows that management is highly efficient at generating profit from the capital shareholders have invested in the business. Furthermore, the firm has seen its net profit margin climb to 9.06%. This improvement indicates that despite competitive pressures, the company is successfully managing its operating expenses relative to its total revenue, allowing more of every dollar earned to drop straight to the bottom line.

↓ Abwärtstrend

The current valuation of Interactive Brokers is detached from reality and leaves absolutely no room for error. The stock trades at a price-to-earnings ratio of 118.9. This multiple suggests that investors are paying a massive premium for every dollar of current profit, assuming growth rates that may be impossible to sustain. Additionally, the company’s debt-to-equity ratio has ballooned to 547.1. This level of leverage is alarming for a brokerage firm, as it indicates a heavy reliance on borrowed funds that could create significant liquidity risks if market conditions turn volatile or interest rates shift unexpectedly.

Chatgpt NEUTRAL 0,62
↑ Bullish

I think IBKR still offers a durable growth story, driven by its scalable brokerage platform and pricing power. P/E TTM: 118.949. That premium signals investors expect sustained earnings growth and strong pricing leverage for IBKR. ROE TTM: 19.6%. A 19.6% ROE shows productive use of equity and above-peer profitability, supporting a premium multiple. Debt/Equity: 547.1. That leverage funds growth and buybacks, helping returns, but raises risk if rates rise or earnings soften. News sentiment over the past month has been cautiously optimistic, with chatter about crypto-asset volumes benefiting the platform.

↓ Abwärtstrend

I think the bear case is that the stock's premium is fragile and balance-sheet risk is elevated. P/E TTM: 118.949. The multiple is far richer than peers, making IBKR particularly vulnerable if growth slows. Debt/Equity: 547.1. High leverage amplifies sensitivity to interest rates and refinancing risk. Current ratio: 0.9707. Liquidity is tight, leaving less cushion to weather revenue dips. News sentiment over the last month has been mixed, with some skepticism about IBKR's ability to sustain high growth without further capital raises.

Runde 2 — Antworten & Gegenargumente

Grok

ChatGPT, you're too quick to call news sentiment mixed when it's leaning bullish on client growth tailwinds. The March 25 piece noted a nearly 4% stock pop from IBKR's cheaper crypto trading solutions versus rivals, directly fueling trading volumes that pad margins. That isn't skepticism — it's evidence of competitive edge widening, supporting my hold over a cautious stance.

Claude

I need to push back on Gemini here — you're reading that debt-to-equity ratio as a pure liability, but you're missing what it actually means for a brokerage. A D/E of 547 sounds catastrophic until you remember that brokerages are inherently leveraged businesses; they borrow client cash and securities as part of normal operations. That's not financial engineering the way it would be for a manufacturer. What matters is whether IBKR can service that debt from operating cash flow, not whether the ratio looks scary on a spreadsheet. The real risk isn't the leverage itself — it's the current ratio of 0.97, which does signal tight liquidity. But Gemini, you conflated two separate problems into one doomsday narrative, and that's sloppy.

Gemini

Claude, your point about the leverage is valid as a risk, but I think you understate the danger of the current ratio. At 0.97, the company has less than a dollar of liquid assets for every dollar of short-term liabilities. This means that if market volatility spikes and clients demand liquidity simultaneously, IBKR has essentially zero margin for error to meet those obligations. Relying on such thin liquidity while carrying a 547.1 debt-to-equity ratio is a recipe for a forced deleveraging event that would be catastrophic for shareholders.

Chatgpt

Claude, your point about leverage is valid as a risk, but IBKR's debt isn't reckless—it's a deliberate tool to scale a high-margin platform and capture higher market share in a crowded broker space. Debt/Equity stands at 547.1. That level of leverage can magnify ROE and growth, but it also increases refinancing risk if rates rise. In a slower 2026, that balance could be stressed as funding costs move.

Runde 3 — Endgültige Gegenargumente

G
Grok

Gemini, I'm siding with Claude in your debate over the balance sheet risks. Debt/Equity at 547 looks wild but is standard for brokerages, where borrowed client funds fuel daily operations and boost that 19.6% ROE without undue danger. The current ratio of 0.97 is tighter than ideal, signaling slim coverage for short-term outflows if volatility surges. Still, with EPS up to $2.08 and steady gross margins, IBKR's cash flow should handle it — no deleveraging panic needed.

C
Claude

I want to push back on Grok's read of the news sentiment here. Grok, you're cherry-picking one bullish data point — the March 25 crypto announcement — and treating it as proof of widening competitive edge. But that's not how brokerages win market share. A cheaper crypto solution is table stakes, not a moat. What I'm not hearing from anyone is customer concentration risk. Interactive Brokers doesn't break out what percentage of trading volume or revenue comes from retail versus institutional, or whether a handful of large hedge funds or prop shops drive disproportionate flow. If 40% of commissions come from five clients and one of them migrates to Citadel Connect or a new rival platform, earnings crater fast. That's the real tail risk nobody's named yet — not the leverage, not the valuation.

G
Gemini

Claude, I have to challenge your dismissal of the debt-to-equity ratio as mere 'brokerage operations.' While you are right that brokerages carry unique balance sheets, IBKR's debt-to-equity of 547.1 is an outlier that suggests aggressive capital structure management rather than just client-cash intermediation. This ratio represents the total debt relative to shareholder equity, meaning the company is heavily reliant on external financing to fund its operations. When you combine that with a current ratio of 0.97, which shows the firm has less than a dollar of liquid assets for every dollar of near-term obligations, the risk of a liquidity squeeze is undeniable.

C
Chatgpt

I think, Claude, your leverage concern is a real risk, but the bigger mover here will be regulation and macro flows in 2026. Claude, your point about D/E is sharp, but it's the policy backdrop that could derail any premium. One metric to watch: P/E TTM 118.95. That high multiple flags growth expectations baked into IBKR, and a material regulatory shift or crypto-volume slowdown could compress it quickly. Beyond numbers, watch US broker-dealer capital rules, crypto custody oversight, and rate and dollar moves that drive client activity and liquidity. Grok, Gemini, your take on momentum remains relevant here.

Kursprognosen

Modell 3M-Ziel 6M-Ziel Begründung
G Grok 3M-Ziel $62.00 6M-Ziel $68.00 Begründung I think IBKR trades sideways-to-up on durable trading volumes and crypto tailwinds, but its nosebleed valuation caps explosive gains through 2026Q2. The key catalyst is the Q2 2026 earnings release in mid-July, where sustained EPS above $2.10 would validate client growth and justify a re-rating. The big risk is a Fed rate cut cycle sparking volatility that stresses the 0.97 current ratio, forcing liquidity measures. At a forward P/E contracting to 100 from 119, that implies the market dials back perfection pricing but still rewards the 19.6% ROE edge over peers like SCHW.
C Claude 3M-Ziel $48.50 6M-Ziel $52.00 Begründung IBKR's earnings are genuinely accelerating — EPS up to $2.08, net margin climbing — but the 119 P/E is unsustainable if growth normalizes. My thesis: the stock re-rates lower as the market prices in a more realistic 25–30 P/E once 2026 volumes stabilize. Catalyst: Q2 earnings print in late July will show whether crypto tailwinds and retail flow hold or fade; a miss triggers multiple compression fast. Risk: a crypto rally or Fed pivot reignites risk appetite, extending the multiple premium. The current 0.97 liquidity ratio is the real constraint — not leverage itself, but tight cash coverage if client redemptions spike. I'm holding my hold but forecasting modest downside as froth clears.
G Gemini 3M-Ziel $38.50 6M-Ziel $35.00 Begründung My thesis is that the market will eventually penalize IBKR for its unsustainable valuation and precarious liquidity profile as volatility normalizes. A concrete catalyst for the downside is the 2026Q2 earnings report; if trading volumes miss expectations, the market will likely reset the stock's massive premium. The primary risk is a sudden regulatory tightening on crypto-custody, which would evaporate the current growth narrative. The current P/E of 118.9 is the most dangerous metric here, as it implies investors are paying for decades of growth that the underlying business, with its 0.97 current ratio, is not structurally built to guarantee during a market downturn.
C Chatgpt 3M-Ziel $45.00 6M-Ziel $46.50 Begründung IBKR can drift modestly higher on resilient client activity, but the stock sits at a premium that leaves little room for error. The upcoming 2026Q2 earnings print, expected this quarter, showing continued volume growth and stable margins would validate the growth thesis and push the price toward my six-month target. A sharper slowdown in trading volumes or an aggressive regulatory clamp could trigger multiple compression and break the thesis. P/E is around 118.95, which means investors are paying for years of growth today; any miss or growth deceleration would re-rate the stock.

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Institutionelle Eigentümer (13F) 1.206 Einreicher · $27.0B gesamt · Stand 30. Juni 2026

Institutionen, die diese Aktie in ihrer vierteljährlichen SEC-Formular 13F melden. Nur Long-Positionen; ein einzelner Einreicher kann für separate Optionsscheine zweimal erscheinen. Große gegenläufige Put/Call-Positionen spiegeln typischerweise Market-Making oder abgesicherte Bestände wider, nicht die gerichtete Überzeugung.

Institutionelle Aktivität — Q2 2026 vs. Vorquartal
Neue Positionen Geschlossene Positionen Erhöht Abgenommen Nettoveränderung der Aktien
200 (+47 vs. Vorquartal) 68 (-27 vs. Vorquartal) 398 (+10 vs. Vorquartal) 375 (+27 vs. Vorquartal) +9.1M

Verglichen mit Q1 2026. SEC-Formular 13F-Einreichungen sind innerhalb von 45 Tagen nach Quartalsende fällig, zuzüglich einer kurzen Pufferzeit für verspätete Einreicher — Quartale, die noch in diesem Fenster liegen, werden zugunsten des letzten vollständig berichteten Paares übersprungen.

Institution Wert Aktien % der verfolgten 13F Typ
VANGUARD GROUP INC $3.114.373.361 48.427.513 11,55% Aktien
VANGUARD CAPITAL MANAGEMENT LLC $2.467.577.037 28.349.920 9,15% Aktien
STATE STREET CORP $1.691.863.240 19.437.767 6,27% Aktien
GEODE CAPITAL MANAGEMENT, LLC $800.257.263 9.203.383 2,97% Aktien
VANGUARD PORTFOLIO MANAGEMENT LLC $759.362.376 8.724.292 2,82% Aktien
TWO SIGMA INVESTMENTS, LP $725.948.416 8.340.400 2,69% Aktien
FMR LLC $724.842.556 8.327.695 2,69% Aktien
NORGES BANK $551.326.418 6.334.173 2,04% Aktien
Orbis Allan Gray Ltd $528.269.261 6.069.270 1,96% Aktien
W1M Asset Management Ltd $520.149.240 5.975.636 1,93% Aktien
AMERICAN CENTURY COMPANIES INC $485.946.757 5.583.028 1,80% Aktien
WELLINGTON MANAGEMENT GROUP LLP $462.083.958 5.308.869 1,71% Aktien
Ninety One UK Ltd $457.716.269 5.258.689 1,70% Aktien
VIKING GLOBAL INVESTORS LP $420.468.306 4.830.748 1,56% Aktien
BAMCO INC /NY/ $418.419.907 4.807.214 1,55% Aktien
NEUBERGER BERMAN GROUP LLC $377.979.965 4.333.675 1,40% Aktien
1832 Asset Management L.P. $377.831.849 4.340.899 1,40% Aktien
Egerton Capital (UK) LLP $359.424.369 4.129.416 1,33% Aktien
W1M Investment Management Ltd $338.771.841 4.922.936 1,26% Aktien
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $334.093.727 3.838.393 1,24% Aktien
TD Asset Management Inc $317.863.726 3.651.927 1,18% Aktien
JACOBS LEVY EQUITY MANAGEMENT, INC $295.886.648 3.399.433 1,10% Aktien
TWO SIGMA ADVISERS, LP $295.671.656 4.597.600 1,10% Aktien
Capital World Investors $283.351.060 3.255.412 1,05% Aktien
JARISLOWSKY, FRASER Ltd $256.290.276 3.724.608 0,95% Aktien
VANGUARD FIDUCIARY TRUST CO $218.046.602 2.505.131 0,81% Aktien
GOLDMAN SACHS GROUP INC $204.628.168 2.350.967 0,76% Aktien
Progeny 3, Inc. $191.108.506 2.195.640 0,71% Aktien
FIRST TRUST ADVISORS LP $183.329.846 2.106.272 0,68% Aktien
BARCLAYS PLC $174.452.790 2.004.283 0,65% Aktien
Bares Capital Management, Inc. $141.789.129 2.060.589 0,53% Aktien
D. E. Shaw & Co., Inc. $139.484.559 1.602.534 0,52% Aktien
CONGRESS ASSET MANAGEMENT CO $132.974.371 1.527.739 0,49% Aktien
AGF MANAGEMENT LTD $126.375.465 1.451.924 0,47% Aktien
Qube Research & Technologies Ltd $125.584.707 1.442.839 0,47% Aktien
Robeco Institutional Asset Management B.V. $123.483.995 1.418.704 0,46% Aktien
SUSQUEHANNA INTERNATIONAL GROUP, LLP $119.305.728 1.370.700 0,44% Kaufoption
RAYMOND JAMES FINANCIAL INC $117.228.103 1.346.830 0,43% Aktien
CANADA PENSION PLAN INVESTMENT BOARD $115.126.241 1.322.682 0,43% Aktien
BlackRock, Inc. $113.348.101 1.302.253 0,42% Aktien
Ancient Art, L.P. $111.863.199 1.285.193 0,41% Aktien
TimesSquare Capital Management, LLC $97.307.772 1.450.839 0,36% Aktien
BNP PARIBAS FINANCIAL MARKETS $97.141.340 1.116.054 0,36% Aktien
Empower Advisory Group, LLC $96.777.394 1.111.873 0,36% Aktien
Hosking Partners LLP $92.361.626 1.061.140 0,34% Aktien
Mitsubishi UFJ Asset Management Co., Ltd. $91.461.980 1.050.804 0,34% Aktien
SUSQUEHANNA INTERNATIONAL GROUP, LLP $90.373.632 1.038.300 0,34% Verkaufsoption
Oakcliff Capital Partners, LP $89.715.610 1.030.740 0,33% Aktien
BANK OF AMERICA CORP /DE/ $88.694.108 1.019.004 0,33% Aktien
California Public Employees Retirement System $88.062.024 1.011.742 0,33% Aktien
Hengistbury Investment Partners LLP $87.784.192 1.008.550 0,33% Aktien
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $87.183.703 1.001.651 0,32% Aktien
FIL Ltd $85.968.364 987.688 0,32% Aktien
Vanguard Global Advisers, LLC $84.163.502 966.952 0,31% Aktien
Squarepoint Ops LLC $83.940.593 964.391 0,31% Aktien
PANAGORA ASSET MANAGEMENT INC $82.280.740 945.321 0,31% Aktien
ENVESTNET ASSET MANAGEMENT INC $81.633.272 937.891 0,30% Aktien
DIMENSIONAL FUND ADVISORS LP $81.164.910 932.501 0,30% Aktien
AustralianSuper Pty Ltd $80.483.451 924.672 0,30% Aktien
National Pension Service $77.905.935 895.059 0,29% Aktien
Sumitomo Mitsui Trust Group, Inc. $77.038.321 885.091 0,29% Aktien
Bronte Capital Management Pty Ltd. $76.902.103 883.526 0,29% Aktien
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC $75.778.678 870.619 0,28% Aktien
Point72 Asset Management, L.P. $75.470.991 867.084 0,28% Aktien
JANE STREET GROUP, LLC $75.341.824 865.600 0,28% Kaufoption
LPL Financial LLC $74.688.257 858.091 0,28% Aktien
VANGUARD ASSET MANAGEMENT, Ltd $73.631.488 845.950 0,27% Aktien
CITADEL ADVISORS LLC $72.565.248 833.700 0,27% Kaufoption
Legal & General Group Plc $72.449.658 832.372 0,27% Aktien
MACKENZIE FINANCIAL CORP $72.181.228 829.288 0,27% Aktien
JANE STREET GROUP, LLC $68.854.472 791.067 0,26% Aktien
MILLENNIUM MANAGEMENT LLC $67.200.015 772.059 0,25% Aktien
Fullerton Fund Management Co Ltd. $66.582.292 764.962 0,25% Aktien
RHUMBLINE ADVISERS $66.287.627 761.578 0,25% Aktien
Bristol Gate Capital Partners Inc. $65.867.354 756.747 0,24% Aktien
TUDOR INVESTMENT CORP ET AL $64.576.282 741.915 0,24% Aktien
Walleye Capital LLC $62.789.699 721.389 0,23% Aktien
Blue Whale Capital LLP $58.278.676 669.562 0,22% Aktien
JANE STREET GROUP, LLC $57.942.528 665.700 0,21% Verkaufsoption
Assenagon Asset Management S.A. $56.155.684 645.171 0,21% Aktien
UBS Group AG $54.936.340 631.162 0,20% Aktien
JONES FINANCIAL COMPANIES LLLP $51.905.395 577.882 0,19% Aktien
CITADEL ADVISORS LLC $50.300.416 577.900 0,19% Verkaufsoption
LONE PINE CAPITAL LLC $50.280.049 577.666 0,19% Aktien
RV Capital AG $48.836.925 561.086 0,18% Aktien
TD Waterhouse Canada Inc. $48.185.491 516.646 0,18% Aktien
Caisse de depot et placement du Quebec $47.446.113 545.107 0,18% Aktien
Freestone Grove Partners LP $45.108.045 518.245 0,17% Aktien
Cantillon Capital Management LLC $45.072.184 517.833 0,17% Aktien
Ensign Peak Advisors, Inc $44.909.594 515.965 0,17% Aktien
Systrade AG $43.520.000 500.000 0,16% Aktien
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $43.262.296 645.032 0,16% Aktien
VICTORY CAPITAL MANAGEMENT INC $40.743.337 468.099 0,15% Aktien
NEW YORK STATE COMMON RETIREMENT FUND $38.405.268 441.237 0,14% Aktien
Marathon Asset Management Ltd $37.467.151 430.459 0,14% Aktien
United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund $36.802.340 422.821 0,14% Aktien
ADAGE CAPITAL PARTNERS GP, L.L.C. $34.554.880 397.000 0,13% Aktien
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $32.482.893 373.195 0,12% Aktien
COOKSON PEIRCE & CO INC $32.417.108 372.439 0,12% Aktien
ALLIANCEBERNSTEIN L.P. $32.317.478 481.847 0,12% Aktien

Unternehmensinsider 17 Insider · 1 Führungskräfte · 6 Direktoren

Insider Rolle Letzte Aktivität Gehaltene Aktien Käufe 12m Verkäufe 12m Netto 12m
Earl H Nemser Vice Chairman 31. Juli 2026 A 803.568 0 8 $-30.725.593
Lori A Conkling Direktor 3. August 2026 P 2.534 7 0 $15.620
Gary Katz Direktor 31. Dezember 2017 A 1.267 0 0 $0
Wayne Hilbert Wagner Direktor 31. Dezember 2014 A 2.573 0 0 $0
Richard J. Gates Direktor 18. Januar 2013 A 15.483 0 0 $0
Philip D Defeo Direktor 31. Juli 2007 P 5.000 0 0 $0
Denis Mendonca 8. Mai 2026 F 145.071 0 0 $0
Milan Galik 8. Mai 2026 F 3.215.389 0 0 $0
Paul Jonathan Brody 8. Mai 2026 F 2.856.806 0 36 $-63.374.046
Thomas Aj Frank 8. Mai 2026 F 251.518 0 0 $0
Lawrence E Harris 28. April 2026 S 173.482 0 6 $-5.767.543
Richard H Repetto 1. Januar 2026 A 3.046 0 0 $0
Nicole Yuen 1. Januar 2026 A 10.126 0 0 $0
William Peterffy 1. Januar 2026 A 10.126 0 0 $0
Jill Bright 1. Januar 2026 A 11.082 1 0 $26.380
Thomas Peterffy 20. Februar 2025 G 1.516.182 0 0 $0
Philip Uhde 31. Dezember 2023 A 2.572 0 0 $0

Insider aus SEC-Einreichungen Form 3/4/5; Netto = nur P/S aus offenen Märkten

Aktivisten & 5%+-Eigentümer 3 Beteiligungen

Investoren mit SEC Schedule 13D — wirtschaftliches Eigentum über 5% mit der Absicht, Einfluss auf den Emittenten zu nehmen (aktivistische Beteiligungen, Board-Kampagnen, M&A). Jede Zeile zeigt den zuletzt bekannten Stand der Position dieses Melders.

Anmelder Eingereicht Beteiligung Status Zweck Einreichung
IB Global Investments LLC, IBG LLC, Interactive Brokers Group, Inc., IBG Holdings LLC, IBKR Member Holdings LLC, Thomas Peterffy 2018 Revocable Trust, Thomas Peterffy ×2 Einreichungen 10. Oktober 2024 Erste Einreichung SEC
IBG Holdings LLC, Thomas Peterffy ×9 Einreichungen 4. August 2022 Erste Einreichung SEC
TCV VI, L.P., TCV VII, L.P., TCV VII (A), L.P., TCV MEMBER FUND, L.P., TECHNOLOGY CROSSOVER MANAGEMENT VI, L.L.C., TECHNOLOGY CROSSOVER MANAGEMENT VII, L.P., TECHNOLOGY CROSSOVER MANAGEMENT VII, LTD., TCV VI MANAGEMENT, LLC, TCV VII MANAGEMENT, LLC, JAY C. HOAG, RICHARD H. KIMBALL, JOHN L. DREW, JON Q. REYNOLDS, JR., ROBERT W. TRUDEAU, CHRISTOPHER P. MARSHALL, TIMOTHY P. MCADAM, JOHN C. ROSENBERG, DAVID L. YUAN ×5 Einreichungen 23. Januar 2013 Erste Einreichung SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF-Besitz Gehalten von 177 ETFs

Gewichtung spiegelt nur direkte Aktienbestände (N-PORT) wider; gehebelte oder derivatbasierte Fonds können zusätzliche Swap-Exposure halten, die hier nicht angezeigt wird.

Fonds Gewicht Anteile Stand Quelle
PFI · Invesco Exchange-Traded Fund Trust 3,78% 24.573 SH 21. August 2026 Täglich
PRAY · FIS Trust 3,22% 29.988 NS 31. Mai 2026 N-PORT
BCUS · Exchange Listed Funds Trust 3,19% 39.648 NS 31. Mai 2026 N-PORT
NUMG · Nushares ETF Trust 3,14% 139.705 NS 30. April 2026 N-PORT
CEPI · ETF Opportunities Trust 2,84% 33.513 NS 30. April 2026 N-PORT
EQRR · ProShares Trust 2,35% 16.764 NS 31. Mai 2026 N-PORT
WBIF · Absolute Shares Trust 2,26% 6.096 NS 30. Juni 2026 N-PORT
FTGS · First Trust Exchange-Traded Fund 2,11% 303.746 NS 30. Juni 2026 N-PORT
RPG · Invesco Exchange-Traded Fund Trust 2,02% 441.041 SH 21. August 2026 Täglich
FGSI · First Trust Exchange-Traded Fund IV 1,98% 745 NS 30. April 2026 N-PORT
CAML · Professionally Managed Portfolios 1,97% 93.174 NS 30. April 2026 N-PORT
WBIL · Absolute Shares Trust 1,96% 6.874 NS 30. Juni 2026 N-PORT
TMFX · RBB Fund, Inc. 1,93% 7.111 NS 31. Mai 2026 N-PORT
WBIG · Absolute Shares Trust 1,63% 5.149 NS 30. Juni 2026 N-PORT
RSPF · Invesco Exchange-Traded Fund Trust 1,25% 43.438 SH 21. August 2026 Täglich
FMAG · FIDELITY COVINGTON TRUST 1,25% 39.786 NS 30. April 2026 N-PORT
GURU · Global X Funds 1,16% 8.499 NS 30. April 2026 N-PORT
SPHB · Invesco Exchange-Traded Fund Trust … 1,07% 125.867 SH 21. August 2026 Täglich
FXO · First Trust Exchange-Traded AlphaDE… 1,06% 142.570 NS 30. April 2026 N-PORT
FSGS · First Trust Exchange-Traded Fund VI 1,05% 3.435 NS 30. Juni 2026 N-PORT
SDVD · First Trust Exchange-Traded Fund IV 1,02% 106.768 NS 30. April 2026 N-PORT
SDVY · First Trust Exchange-Traded Fund VI 1,01% 1.313.765 NS 30. Juni 2026 N-PORT
FLCV · Federated Hermes ETF Trust 0,87% 9.659 NS 31. Mai 2026 N-PORT
PDP · Invesco Exchange-Traded Fund Trust 0,81% 132.977 SH 21. August 2026 Täglich
FTC · First Trust Exchange-Traded AlphaDE… 0,75% 120.398 NS 30. April 2026 N-PORT
FCFY · First Trust Exchange-Traded Fund 0,74% 115 NS 30. Juni 2026 N-PORT
HIBL · Direxion Shares ETF Trust 0,64% 6.388 NS 30. April 2026 N-PORT
GQQQ · EA Series Trust 0,64% 10.692 NS 29. Mai 2026 N-PORT
IYF · iShares Trust 0,59% 280.407 SH 21. August 2026 Täglich
IYG · iShares Trust 0,55% 134.520 SH 21. August 2026 Täglich
CLSE · Trust for Professional Managers 0,55% 39.060 NS 31. Mai 2026 N-PORT
FTQI · First Trust Exchange-Traded Fund VI 0,54% 57.054 NS 30. Juni 2026 N-PORT
IMCG · iShares Trust 0,53% 243.616 SH 21. August 2026 Täglich
BRCE · MFS Active Exchange Traded Funds Tr… 0,51% 1.969 NS 31. Mai 2026 N-PORT
VFH · VANGUARD WORLD FUND 0,43% 689.358 SH 19. August 2026 Täglich
FNCL · FIDELITY COVINGTON TRUST 0,42% 116.697 NS 30. April 2026 N-PORT
LRGF · iShares Trust 0,42% 169.781 SH 21. August 2026 Täglich
FLCC · Federated Hermes ETF Trust 0,41% 5.781 NS 31. Mai 2026 N-PORT
FAD · First Trust Exchange-Traded AlphaDE… 0,38% 22.789 NS 30. April 2026 N-PORT
UYG · ProShares Trust 0,34% 27.455 NS 31. Mai 2026 N-PORT
FAS · Direxion Shares ETF Trust 0,34% 85.207 NS 30. April 2026 N-PORT
CVMC · Morgan Stanley ETF Trust 0,34% 3.962 NS 30. Juni 2026 N-PORT
CSM · ProShares Trust 0,32% 19.273 NS 31. Mai 2026 N-PORT
GINN · Goldman Sachs ETF Trust 0,31% 7.614 NS 31. Mai 2026 N-PORT
SNPG · DBX ETF Trust 0,31% 479 NS 29. Mai 2026 N-PORT
JMOM · J.P. Morgan Exchange-Traded Fund Tr… 0,31% 84.297 NS 30. April 2026 N-PORT
FEX · First Trust Exchange-Traded AlphaDE… 0,29% 54.949 NS 30. April 2026 N-PORT
MGK · VANGUARD WORLD FUND 0,29% 1.097.219 SH 19. August 2026 Täglich
PEPS · Morgan Stanley ETF Trust 0,27% 902 NS 30. Juni 2026 N-PORT
IMCB · iShares Trust 0,27% 51.239 SH 21. August 2026 Täglich