At a glance
Interactive Brokers Group Inc is worth $33.90B, about 34 times its fiscal 2025 earnings. Revenue grew 19.7% to $6.21B in fiscal 2025, with 15.9% kept as profit; over 5 years it has grown 22.8% a year. It pays a 0.45% dividend yield, and returned $346.0M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +6.8% over the past year with dividends reinvested and +32.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 38.0% in the 2020 crash (S&P 500: 33.7%) and 33.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 6 months after the lows.
The business in plain English
Interactive Brokers is an automated global broker. Customers use one platform to trade stocks, options, futures, foreign exchange, bonds, funds, precious metals and forecast contracts (which pay out based on whether an event happens). They can trade on more than 170 exchanges and market centers in 40 countries and 29 currencies. Its roughly 4.4 million customers range from individual investors to hedge funds, investment advisors, trading firms and other brokers. Automation keeps costs low: it had 3,182 employees as of December 31, 2025.
It earns money in two main ways. In fiscal 2025, net interest income supplied $3.56 billion of its $6.2 billion revenue. For a broker, that is mostly interest earned on customer cash and on loans to customers who borrow to trade, minus interest paid out, so it moves with interest rates. The other $2.64 billion was noninterest income, which includes commissions. IBKR Pro charges low commissions. IBKR Lite offers commission-free trades in US-listed stocks and ETFs for eligible US customers.
Revenue grew 19.7% in fiscal 2025. Of that revenue, 69.7% came from the US and 30.3% from other countries. The listed company, Interactive Brokers Group, Inc., owns only about 26.3% of the operating business, IBG LLC. The other 73.7% belongs to IBG Holdings, which is owned by founder and Chairman Thomas Peterffy, employees and others.
Price history
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IBKR +6.8% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| US | $4.32B | 69.7% |
| Non Us | $1.88B | 30.3% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.90B, up 28.1% from a year earlier, and net income was $312.0M (+39.3%).
- For fiscal 2025, revenue was $6.21B (+19.7% year over year; +22.8% a year from FY2020 to FY2025) with a 15.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +22.8% good |
|---|---|
| Return on equity | 18.3% good |
| Net income / revenue | 15.9% watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.22B | $195.0M | — |
| FY2021 | $2.71B | $308.0M | — |
| FY2022 | $3.07B | $380.0M | — |
| FY2023 | $4.34B | $600.0M | — |
| FY2024 | $5.18B | $755.0M | — |
| FY2025 | $6.21B | $984.0M | — |
Valuation snapshot
| Market value | $33.90B |
|---|---|
| P/E ratio | 33.7 |
| Dividend yield | 0.45% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| IBKR price data to Nov 2, 2026 | +16.7% | +6.8% | +55.8% | +32.9% | +25.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +16.7% |
| 2025 | +46.4% |
| 2024 | +114.4% |
| 2023 | +15.1% |
| 2022 | -8.3% |
| 2021 | +31.1% |
| 2020 | +31.7% |
| 2019 | -14.0% |
| 2018 | -7.1% |
| 2017 | +63.8% |
| 2016 | -15.3% |
| 2015 | +51.1% |
| 2014 | +21.8% |
| 2013 | +82.1% |
| 2012 | +0.8% |
| 2011 | -14.5% |
| 2010 | +10.9% |
| 2009 | -0.9% |
| 2008 | -44.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 53% over that stretch · deepest drop along the way 63.7%, back to its old high 68.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.7% over that stretch · deepest drop along the way 38%, back to its old high 8.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 11.8% over that stretch · deepest drop along the way 33.3%, back to its old high 5.6 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 9 open-market purchases ($20K) and 10 sales ($34.8M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jan 22, 2026 | Earl H Nemser Vice Chairman, Director | sell | $7.7M |
| Jan 23, 2026 | Earl H Nemser Vice Chairman, Director | sell | $6.6M |
| Jan 23, 2026 | Earl H Nemser Vice Chairman, Director | sell | $4.7M |
| Jan 26, 2026 | Earl H Nemser Vice Chairman, Director | sell | $4.6M |
| Jan 27, 2026 | Earl H Nemser Vice Chairman, Director | sell | $3.0M |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.3% | Mar 31, 2026 |
| BlackRock, Inc. | 6.2% | Sep 30, 2025 |
| ORBIS INVESTMENT MANAGEMENT LTD | 4.8% | Dec 31, 2024 |
ETFs with the most weight in IBKR
| XMMO Invesco S&P MidCap Momentum ETF | 4.21% |
| KONG Formidable Fortress ETF | 3.41% |
| BIBL Inspire 100 ETF | 2.43% |
| IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 2.24% |
| STCE Schwab Crypto Thematic ETF | 2.22% |
| KCE SPDR S&P Capital Markets ETF | 1.74% |
| IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 1.51% |
| SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF | 1.5% |
What could go wrong
- Founder holds majority voting control. Chairman Thomas Peterffy controls a majority of the combined voting power. That control could create conflicts of interest and discourage a takeover that other shareholders might favor.
- Share swaps with insiders could pressure price. The company gradually swaps IBG Holdings' 73.7% stake in the business for new shares, issuing about 165.6 million from 2011 through 2025. Sales of those shares could push the stock price down.
- Earnings swing with interest rates and trading. Net interest income was more than half of 2025 revenue. Lower interest rates or quieter trading could cut revenue and profit sharply, and the 10-K says results are hard to predict.
- Losses when customers or partners default. As a clearing broker, meaning it settles its customers' trades, it can lose money when customers or trading partners can't cover their losses. A sudden, market-wide event would raise that danger.
- Prediction-market and crypto rules are unsettled. Laws covering forecast contracts are still taking shape, and crypto trading relies on outside providers that execute trades and hold the coins. Rule changes or a provider's failure could hurt the business.
- Technology failures or cyber-attacks. The business runs on its own software, and not all of its systems have full backups. An outage, software error or cyber-attack could disrupt customers' trading, harm its reputation and cost money.
Recent events
- Quarterly results released
- Other company announcement
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Quarterly results released
For income and retirement investors
Interactive Brokers pays a dividend, but a small one: the yield was 0.41% as of October 28, 2026. For income investors, that means most of any return must come from the share price. The per-share dividend rose from $0.10 in fiscal 2020 to about $0.30 in fiscal 2025, with raises in both 2024 and 2025. Dividends used just 13.6% of 2025 earnings. The company bought back no shares from fiscal 2021 through 2025, and its 10-K warns dividends may not always be paid.
The shares have fallen sharply in downturns. The price dropped 63.7% in the 2008 financial crisis and needed about 69 months to recover. It fell 38% in the 2020 COVID crash and 33.3% in the 2022 bear market, recovering in about nine and six months. Its one-year beta (how much it swings relative to the market) was 2.11 as of October 28, 2026. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Interactive Brokers make money?
More than half of its revenue comes from net interest income, and the rest comes from noninterest income such as commissions. In fiscal 2025, net interest income was $3.56 billion and noninterest income was $2.64 billion, of $6.2 billion total revenue. For a broker, net interest income generally comes from customer cash balances and loans to customers who borrow to trade, minus interest paid out. That makes results sensitive to interest rates. Commissions depend on how actively its roughly 4.4 million customers trade.
Does Interactive Brokers pay a dividend?
Yes, but the yield was small: 0.41% as of October 28, 2026. The dividend was about $0.30 per share for fiscal 2025, up from $0.10 in fiscal 2020, and it rose in both 2024 and 2025. Dividends used 13.6% of 2025 earnings. The 10-K warns that dividends may not always be paid. The listed company also relies on cash distributions from IBG LLC, the operating business, to cover its taxes and other expenses.
Who controls Interactive Brokers?
Founder and Chairman Thomas Peterffy controls a majority of the combined voting power. As of December 31, 2025, the listed company owned about 26.3% of the operating business, IBG LLC. IBG Holdings, which is owned by Peterffy, employees and others, held the other 73.7%. Joining the S&P 500 on August 28, 2025, brought in more index-fund owners. Vanguard reported owning 7.3% of the Class A shares as of March 31, 2026, and BlackRock reported 6.2% as of September 30, 2025.
Did Interactive Brokers split its stock?
Yes. Interactive Brokers carried out a four-for-one stock split in 2025. Shareholders of record at the close of market on June 16, 2025, received three additional shares for each share they held. A split doesn't change the value of a holding. It divides it into more shares, each at a lower price. The company restated earlier per-share figures, such as earnings and dividends, for the split, so older numbers can look lower than the amounts first reported.
How much has IBKR stock fallen in market crashes?
It has fallen hard in past downturns. The share price dropped 63.7% in the 2008 financial crisis and took about 69 months, until December 2014, to recover. It fell 38% in the 2020 COVID crash and 33.3% in the 2022 bear market, recovering in about nine and six months, respectively. Over the year to October 28, 2026, its beta was 2.11, meaning it tended to move about twice as much as the market. Its deepest drop in that year was 18.7%.