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

NASDAQ · Financial Services · View on SEC EDGAR ↗
$89.48
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$59–$98
79% of range
Analyst Rating
BUY
20 analysts
Price Target
$106
+19% upside
P/E (TTM)
29.0
ROE
—
Net Profit Margin
—

IBKR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$89.48
Market Cap
—
P/E (TTM)
29.0
EPS (TTM)
$2.22
Revenue (TTM)
$2.44B
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$59 – $98

IBKR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $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
Free Cash Flow —
Margins —

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
IBKR
Peer Median
P/E (TTM)
5-point trend, +372.7%
29.0
17.6

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
IBKR
Peer Median

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
IBKR
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
IBKR
Peer Median
Revenue YoY
5-point trend, +55.6%
23.4%
—
Revenue CAGR 3Y
5-point trend, +55.6%
17.4%
—
Revenue CAGR 5Y
5-point trend, +55.6%
13.7%
—
EPS YoY
5-point trend, -31.5%
28.3%
—
Net Income YoY
5-point trend, +166.3%
27.9%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
IBKR
Peer Median
EPS (Diluted)
5-point trend, -31.5%
$2.22
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
IBKR
Peer Median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
Ex-dateAmount
June 1, 2026$0.0880
Feb. 27, 2026$0.0800
Dec. 1, 2025$0.0800
Aug. 29, 2025$0.0800
May 30, 2025$0.0800
Feb. 28, 2025$0.0625
Nov. 29, 2024$0.0625
Aug. 30, 2024$0.0625
May 31, 2024$0.0625
Feb. 29, 2024$0.0250
Nov. 30, 2023$0.0250
Aug. 31, 2023$0.0250
May 31, 2023$0.0250
Feb. 28, 2023$0.0250
Nov. 30, 2022$0.0250
Aug. 31, 2022$0.0250
May 31, 2022$0.0250
Feb. 28, 2022$0.0250
Nov. 30, 2021$0.0250
Aug. 31, 2021$0.0250

IBKR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 20 analysts
  • Strong Buy 6 30.0%
  • Buy 11 55.0%
  • Hold 3 15.0%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

12 analysts · 2026-08-15
Median target $109.50 +22.4%
Mean target $106.13 +18.6%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.02%
Period EPS Actual EPS Est Surprise
June 30, 2026 $0.69 $0.65 0.04%
March 31, 2026 $0.60 $0.61 -0.01%
Dec. 31, 2025 $0.65 $0.60 0.05%
Sept. 30, 2025 $0.57 $0.55 0.02%
June 30, 2025 $0.51 $0.47 0.04%
March 31, 2025 $0.47 $0.49 -0.02%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
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% —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 12
Annual Income Statement data for IBKR
Metric 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
Balance Sheet 16
Annual Balance Sheet data for IBKR
Metric 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
Cash Flow 11
Annual Cash Flow data for IBKR
Metric 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
Profitability 5
Annual Profitability data for IBKR
Metric 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%
Liquidity & Solvency 1
Annual Liquidity & Solvency data for IBKR
Metric Trend 202520242023202220212020201920182017201620152014
Debt / Equity 5-point trend, -75.1% · · · · · · 0.0 0.0 0.0 0.1 · 0.0
Efficiency 1
Annual Efficiency data for IBKR
Metric 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
Per Share 6
Annual Per Share data for IBKR
Metric 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
Growth Rates 10
Annual Growth Rates data for IBKR
Metric 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% · · · · · · · · · · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for IBKR
Metric 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

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312025-06-302024-12-312023-12-312022-12-31
Revenue $2.44B—$1.98B$1.56B$1.51B
Net Income $4.36B—$3.41B$2.81B$1.84B
Diluted EPS $2.22—$1.73$1.42$3.75

IBKR AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening 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.

↓ Bearish

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.

↓ Bearish

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 NEUTRAL 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.

↓ Bearish

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.

↓ Bearish

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.

Round 2 — Responses & Rebuttals

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 being a house of cards is the most critical risk here, 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.

Round 3 — Final Rebuttals

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. Until we know IBKR's customer concentration, the bull case is incomplete.

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.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $62.00 6M Target $68.00 Reasoning 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 Target $48.50 6M Target $52.00 Reasoning 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 Target $38.50 6M Target $35.00 Reasoning 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 Target $45.00 6M Target $46.50 Reasoning 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.

Latest News Recent headlines mentioning this company

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

My Metrics Your personal watchlist — selected rows from Full Fundamentals

📊

Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

Institutional owners (13F) 1,206 filers · $26.9B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
208 (+62 vs prior Q) 67 (-29 vs prior Q) 391 (+3 vs prior Q) 370 (+24 vs prior Q) +56.7M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $3,114,373,361 48,427,513 11.56% Shares
VANGUARD CAPITAL MANAGEMENT LLC $2,467,577,037 28,349,920 9.16% Shares
STATE STREET CORP $1,691,863,240 19,437,767 6.28% Shares
GEODE CAPITAL MANAGEMENT, LLC $800,257,263 9,203,383 2.97% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $759,362,376 8,724,292 2.82% Shares
TWO SIGMA INVESTMENTS, LP $725,948,416 8,340,400 2.70% Shares
FMR LLC $724,842,556 8,327,695 2.69% Shares
NORGES BANK $551,326,418 6,334,173 2.05% Shares
Orbis Allan Gray Ltd $528,269,261 6,069,270 1.96% Shares
W1M Asset Management Ltd $520,149,240 5,975,636 1.93% Shares
AMERICAN CENTURY COMPANIES INC $485,946,757 5,583,028 1.80% Shares
WELLINGTON MANAGEMENT GROUP LLP $462,083,958 5,308,869 1.72% Shares
Ninety One UK Ltd $457,716,269 5,258,689 1.70% Shares
VIKING GLOBAL INVESTORS LP $420,468,306 4,830,748 1.56% Shares
BAMCO INC /NY/ $418,419,907 4,807,214 1.55% Shares
NEUBERGER BERMAN GROUP LLC $377,979,965 4,333,675 1.40% Shares
1832 Asset Management L.P. $377,831,849 4,340,899 1.40% Shares
Egerton Capital (UK) LLP $359,424,369 4,129,416 1.33% Shares
W1M Investment Management Ltd $338,771,841 4,922,936 1.26% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $334,093,727 3,838,393 1.24% Shares
TD Asset Management Inc $317,863,726 3,651,927 1.18% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $295,886,648 3,399,433 1.10% Shares
TWO SIGMA ADVISERS, LP $295,671,656 4,597,600 1.10% Shares
Capital World Investors $283,351,060 3,255,412 1.05% Shares
JARISLOWSKY, FRASER Ltd $256,290,276 3,724,608 0.95% Shares
VANGUARD FIDUCIARY TRUST CO $218,046,602 2,505,131 0.81% Shares
GOLDMAN SACHS GROUP INC $204,628,168 2,350,967 0.76% Shares
Progeny 3, Inc. $191,108,506 2,195,640 0.71% Shares
FIRST TRUST ADVISORS LP $183,329,846 2,106,272 0.68% Shares
BARCLAYS PLC $174,452,790 2,004,283 0.65% Shares
Bares Capital Management, Inc. $141,789,129 2,060,589 0.53% Shares
D. E. Shaw & Co., Inc. $139,484,559 1,602,534 0.52% Shares
CONGRESS ASSET MANAGEMENT CO $132,974,371 1,527,739 0.49% Shares
AGF MANAGEMENT LTD $126,375,465 1,451,924 0.47% Shares
Qube Research & Technologies Ltd $125,584,707 1,442,839 0.47% Shares
Robeco Institutional Asset Management B.V. $123,483,995 1,418,704 0.46% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $119,305,728 1,370,700 0.44% Call option
RAYMOND JAMES FINANCIAL INC $117,228,103 1,346,830 0.44% Shares
CANADA PENSION PLAN INVESTMENT BOARD $115,126,241 1,322,682 0.43% Shares
BlackRock, Inc. $113,348,101 1,302,253 0.42% Shares
Ancient Art, L.P. $111,863,199 1,285,193 0.42% Shares
TimesSquare Capital Management, LLC $97,307,772 1,450,839 0.36% Shares
BNP PARIBAS FINANCIAL MARKETS $97,141,340 1,116,054 0.36% Shares
Empower Advisory Group, LLC $96,777,394 1,111,873 0.36% Shares
Hosking Partners LLP $92,361,626 1,061,140 0.34% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $91,461,980 1,050,804 0.34% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $90,373,632 1,038,300 0.34% Put option
Oakcliff Capital Partners, LP $89,715,610 1,030,740 0.33% Shares
BANK OF AMERICA CORP /DE/ $88,694,108 1,019,004 0.33% Shares
California Public Employees Retirement System $88,062,024 1,011,742 0.33% Shares
Hengistbury Investment Partners LLP $87,784,192 1,008,550 0.33% Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $87,183,703 1,001,651 0.32% Shares
FIL Ltd $85,968,364 987,688 0.32% Shares
Vanguard Global Advisers, LLC $84,163,502 966,952 0.31% Shares
Squarepoint Ops LLC $83,940,593 964,391 0.31% Shares
PANAGORA ASSET MANAGEMENT INC $82,280,740 945,321 0.31% Shares
ENVESTNET ASSET MANAGEMENT INC $81,633,272 937,891 0.30% Shares
DIMENSIONAL FUND ADVISORS LP $81,164,910 932,501 0.30% Shares
AustralianSuper Pty Ltd $80,483,451 924,672 0.30% Shares
National Pension Service $77,905,935 895,059 0.29% Shares
Sumitomo Mitsui Trust Group, Inc. $77,038,321 885,091 0.29% Shares
Bronte Capital Management Pty Ltd. $76,902,103 883,526 0.29% Shares
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC $75,778,678 870,619 0.28% Shares
Point72 Asset Management, L.P. $75,470,991 867,084 0.28% Shares
JANE STREET GROUP, LLC $75,341,824 865,600 0.28% Call option
LPL Financial LLC $74,688,257 858,091 0.28% Shares
VANGUARD ASSET MANAGEMENT, Ltd $73,631,488 845,950 0.27% Shares
CITADEL ADVISORS LLC $72,565,248 833,700 0.27% Call option
Legal & General Group Plc $72,449,658 832,372 0.27% Shares
MACKENZIE FINANCIAL CORP $72,181,228 829,288 0.27% Shares
JANE STREET GROUP, LLC $68,854,472 791,067 0.26% Shares
MILLENNIUM MANAGEMENT LLC $67,200,015 772,059 0.25% Shares
Fullerton Fund Management Co Ltd. $66,582,292 764,962 0.25% Shares
RHUMBLINE ADVISERS $66,287,627 761,578 0.25% Shares
Bristol Gate Capital Partners Inc. $65,867,354 756,747 0.24% Shares
TUDOR INVESTMENT CORP ET AL $64,576,282 741,915 0.24% Shares
Walleye Capital LLC $62,789,699 721,389 0.23% Shares
Blue Whale Capital LLP $58,278,676 669,562 0.22% Shares
JANE STREET GROUP, LLC $57,942,528 665,700 0.22% Put option
Assenagon Asset Management S.A. $56,155,684 645,171 0.21% Shares
UBS Group AG $54,936,340 631,162 0.20% Shares
JONES FINANCIAL COMPANIES LLLP $51,905,395 577,882 0.19% Shares
CITADEL ADVISORS LLC $50,300,416 577,900 0.19% Put option
LONE PINE CAPITAL LLC $50,280,049 577,666 0.19% Shares
RV Capital AG $48,836,925 561,086 0.18% Shares
TD Waterhouse Canada Inc. $48,185,491 516,646 0.18% Shares
Caisse de depot et placement du Quebec $47,446,113 545,107 0.18% Shares
Freestone Grove Partners LP $45,108,045 518,245 0.17% Shares
Cantillon Capital Management LLC $45,072,184 517,833 0.17% Shares
Ensign Peak Advisors, Inc $44,909,594 515,965 0.17% Shares
Systrade AG $43,520,000 500,000 0.16% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $43,262,296 645,032 0.16% Shares
VICTORY CAPITAL MANAGEMENT INC $40,743,337 468,099 0.15% Shares
NEW YORK STATE COMMON RETIREMENT FUND $38,405,268 441,237 0.14% Shares
Marathon Asset Management Ltd $37,467,151 430,459 0.14% Shares
United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund $36,802,340 422,821 0.14% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $34,554,880 397,000 0.13% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $32,482,893 373,195 0.12% Shares
COOKSON PEIRCE & CO INC $32,417,108 372,439 0.12% Shares
ALLIANCEBERNSTEIN L.P. $32,317,478 481,847 0.12% Shares

Company insiders 17 insiders · 1 officers · 6 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Earl H Nemser Vice Chairman July 31, 2026 A 803,568 0 8 $-30,725,593
Lori A Conkling Director Aug. 3, 2026 P 2,534 7 0 $15,620
Gary Katz Director Dec. 31, 2017 A 1,267 0 0 $0
Wayne Hilbert Wagner Director Dec. 31, 2014 A 2,573 0 0 $0
Richard J. Gates Director Jan. 18, 2013 A 15,483 0 0 $0
Philip D Defeo Director July 31, 2007 P 5,000 0 0 $0
Denis Mendonca — May 8, 2026 F 145,071 0 0 $0
Milan Galik — May 8, 2026 F 3,215,389 0 0 $0
Paul Jonathan Brody — May 8, 2026 F 2,856,806 0 36 $-63,374,046
Thomas Aj Frank — May 8, 2026 F 251,518 0 0 $0
Lawrence E Harris — April 28, 2026 S 173,482 0 6 $-5,767,543
Richard H Repetto — Jan. 1, 2026 A 3,046 0 0 $0
Nicole Yuen — Jan. 1, 2026 A 10,126 0 0 $0
William Peterffy — Jan. 1, 2026 A 10,126 0 0 $0
Jill Bright — Jan. 1, 2026 A 11,082 1 0 $26,380
Thomas Peterffy — Feb. 20, 2025 G 1,516,182 0 0 $0
Philip Uhde — Dec. 31, 2023 A 2,572 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
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 filings Oct. 10, 2024 — Initial filing — SEC
IBG Holdings LLC, Thomas Peterffy ×9 filings Aug. 4, 2022 — Initial filing — 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 filings Jan. 23, 2013 — Initial filing — 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 ownership Held by 164 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
PFI · Invesco Exchange-Traded Fund Trust 3.64% 24,573 SH Aug. 8, 2026 Daily
IAI · iShares Trust 3.43% 541,067 SH Aug. 8, 2026 Daily
BCUS · Exchange Listed Funds Trust 3.19% 39,648 NS May 31, 2026 N-PORT
NUMG · Nushares ETF Trust 3.14% 139,705 NS April 30, 2026 N-PORT
CEPI · ETF Opportunities Trust 2.84% 33,513 NS April 30, 2026 N-PORT
EQRR · ProShares Trust 2.35% 16,764 NS May 31, 2026 N-PORT
FGSI · First Trust Exchange-Traded Fund IV 1.98% 745 NS April 30, 2026 N-PORT
CAML · Professionally Managed Portfolios 1.97% 93,174 NS April 30, 2026 N-PORT
RPG · Invesco Exchange-Traded Fund Trust 1.96% 451,571 SH Aug. 8, 2026 Daily
TMFX · RBB Fund, Inc. 1.93% 7,111 NS May 31, 2026 N-PORT
FMAG · FIDELITY COVINGTON TRUST 1.25% 39,786 NS April 30, 2026 N-PORT
RSPF · Invesco Exchange-Traded Fund Trust 1.22% 42,853 SH Aug. 8, 2026 Daily
GURU · Global X Funds 1.16% 8,499 NS April 30, 2026 N-PORT
FXO · First Trust Exchange-Traded AlphaDE… 1.06% 142,570 NS April 30, 2026 N-PORT
SPHB · Invesco Exchange-Traded Fund Trust … 1.04% 111,342 SH Aug. 8, 2026 Daily
SDVD · First Trust Exchange-Traded Fund IV 1.02% 106,768 NS April 30, 2026 N-PORT
FLCV · Federated Hermes ETF Trust 0.87% 9,659 NS May 31, 2026 N-PORT
SMLF · iShares Trust 0.79% 391,648 SH Aug. 8, 2026 Daily
PDP · Invesco Exchange-Traded Fund Trust 0.78% 133,715 SH Aug. 8, 2026 Daily
FTC · First Trust Exchange-Traded AlphaDE… 0.75% 120,398 NS April 30, 2026 N-PORT
HIBL · Direxion Shares ETF Trust 0.64% 6,388 NS April 30, 2026 N-PORT
GQQQ · EA Series Trust 0.64% 10,692 NS May 29, 2026 N-PORT
IYF · iShares Trust 0.56% 285,897 SH Aug. 8, 2026 Daily
CLSE · Trust for Professional Managers 0.55% 39,060 NS May 31, 2026 N-PORT
IYG · iShares Trust 0.52% 133,918 SH Aug. 8, 2026 Daily
BRCE · MFS Active Exchange Traded Funds Tr… 0.51% 1,969 NS May 31, 2026 N-PORT
IMCG · iShares Trust 0.51% 240,726 SH Aug. 8, 2026 Daily
VFH · VANGUARD WORLD FUND 0.43% 689,358 SH Aug. 8, 2026 Daily
FNCL · FIDELITY COVINGTON TRUST 0.42% 116,697 NS April 30, 2026 N-PORT
FLCC · Federated Hermes ETF Trust 0.41% 5,781 NS May 31, 2026 N-PORT
LRGF · iShares Trust 0.40% 169,421 SH Aug. 8, 2026 Daily
FAD · First Trust Exchange-Traded AlphaDE… 0.38% 22,789 NS April 30, 2026 N-PORT
UYG · ProShares Trust 0.34% 27,455 NS May 31, 2026 N-PORT
FAS · Direxion Shares ETF Trust 0.34% 85,207 NS April 30, 2026 N-PORT
CSM · ProShares Trust 0.32% 19,273 NS May 31, 2026 N-PORT
GINN · Goldman Sachs ETF Trust 0.31% 7,614 NS May 31, 2026 N-PORT
SNPG · DBX ETF Trust 0.31% 479 NS May 29, 2026 N-PORT
JMOM · J.P. Morgan Exchange-Traded Fund Tr… 0.31% 84,297 NS April 30, 2026 N-PORT
FEX · First Trust Exchange-Traded AlphaDE… 0.29% 54,949 NS April 30, 2026 N-PORT
MGK · VANGUARD WORLD FUND 0.29% 1,097,219 SH Aug. 8, 2026 Daily
OALC · Unified Series Trust 0.26% 7,314 NS May 31, 2026 N-PORT
HDUS · Lattice Strategies Trust 0.26% 5,917 NS April 30, 2026 N-PORT
IMCB · iShares Trust 0.26% 50,941 SH Aug. 8, 2026 Daily
IXG · iShares Trust 0.24% 19,324 SH Aug. 8, 2026 Daily
MMLG · First Trust Exchange-Traded Fund VI… 0.23% 2,523 NS May 31, 2026 N-PORT
GEW · EA Series Trust 0.22% 3,584 NS May 29, 2026 N-PORT
DFVE · DoubleLine ETF Trust 0.22% 891 NS March 31, 2026 N-PORT
XOEF · iShares Trust 0.21% 562 SH Aug. 8, 2026 Daily
VMAX · Lattice Strategies Trust 0.21% 1,236 NS April 30, 2026 N-PORT
SGLC · RBB Fund, Inc. 0.21% 4,682 NS May 31, 2026 N-PORT