Upside case
Bull case
$133+39.0%
IBKR would need investors to value it at roughly 53x earnings — about 15x more generous than today's 38x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Interactive Brokers Group, Inc. (IBKR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
19
analysts
10 bullish · 1 bearish · 19 covering IBKR
Strong Buy
0
Buy
10
Hold
8
Sell
1
Strong Sell
0
Consensus Target
$88
-8.7% vs today
Scenario Range
$64 – $133
Model bear to bull value window
Coverage
19
Published analyst ratings
Valuation Context
38.2x
Forward P/E · Market cap $42.8B
IBKR price targets
Three scenarios for where IBKR stock could go
Current
~$96
Confidence
47 / 100
Updated
Jun 18, 2026
Where we are now
Current · $96
Bear
$64
Base
$101
Bull
$133
Market caseClosest to today
Base case
$101+5.5%
This is close to how the market is already pricing IBKR — at roughly 40x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$64-33.5%
If investor confidence fades or macro conditions deteriorate, a 13x multiple contraction could push IBKR down roughly 34% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Interactive Brokers Group, Inc.
IBKR · NASDAQFinancial ServicesInvestment - Banking & Investment ServicesDecember year-end
Interactive Brokers is a global electronic brokerage platform that executes trades across stocks, options, futures, forex, bonds, and cryptocurrencies. It generates revenue primarily from commissions on trades, interest income on margin loans and customer cash balances, and fees for market data and premium services. Its key advantage is a highly automated, low-cost infrastructure that enables competitive pricing—particularly for active traders and institutions—alongside sophisticated trading tools and global market access.
Market Cap
$42.8B
Revenue TTM
$10.2B
Net Income TTM
$984M
Net Margin
9.6%
IBKR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
73%Exceptional
12 quarters tracked
Revenue Beat Rate
64%Exceptional
vs consensus estimates
Avg EPS Surprise
+3.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q4 2025
Q1 2026
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q4 2025
EPS
$0.57/$0.54
Revenue
$1.6B/$1.5B
Q1 2026
EPS
$0.65/$0.59
Revenue
$1.6B/$1.6B
Q1 2026
EPS
$0.63/—
Revenue
$2.7B/—
Q2 2026
EPS
$0.60/$0.57
Revenue
$1.7B/$1.7B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q4 2025 | $0.57/$0.54 | +5.2% | $1.6B/$1.5B | +2.8% |
| Q1 2026 | $0.65/$0.59 | +9.2% | $1.6B/$1.6B | +0.3% |
| Q1 2026 | $0.63/— | — | $2.7B/— | — |
| Q2 2026 | $0.60/$0.57 | +5.3% | $1.7B/$1.7B | -0.3% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$11.1B
+8.7% YoY
FY2
$12.1B
+9.0% YoY
EPS Outlook
FY1
$2.54
+15.8% YoY
FY2
$2.81
+10.6% YoY
Trailing FCF (TTM)$15.7B
FCF Margin: 153.9%
Next Earnings
July 16, 2026
Expected EPS
$0.59
Expected Revenue
$1.7B
IBKR beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
IBKR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $2.4B
Product Mix
Latest annual revenue by segment or product family
Commissions
89.4%
+26.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
U [S]
69.7%
+20.5% YoY
Tap, hover, or focus a slice to inspect segment detail.
Commissions is the largest disclosed segment at 89.4% of FY 2025 revenue, up 26.6% YoY.
U [S] is the largest reported region at 69.7%, up 20.5% YoY.
IBKR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $70 — implies -26.8% from today's price.
Premium to Fair Value
26.8%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
IBKR
43.2x
vs
S&P 500
24.4x
+77% premium
vs Financial Services Trailing P/E
IBKR
43.2x
vs
Financial Services
13.6x
+218% premium
vs IBKR 5Y Avg P/E
Today
43.2x
vs
5Y Average
22.6x
+91% premium
Forward PE
38.2x
S&P 500
18.8x
+103%
Financial Services
10.7x
+258%
5Y Avg
—
—
Trailing PE
43.2x
S&P 500
24.4x
+77%
Financial Services
13.6x
+218%
5Y Avg
22.6x
+91%
PEG Ratio
1.46x
S&P 500
1.66x
-12%
Financial Services
0.95x
+53%
5Y Avg
—
—
EV/EBITDA
4.3x
S&P 500
15.2x
-72%
Financial Services
11.4x
-63%
5Y Avg
4.3x
+0%
Price/FCF
2.7x
S&P 500
20.7x
-87%
Financial Services
11.1x
-76%
5Y Avg
1.8x
+48%
Price/Sales
4.2x
S&P 500
3.1x
+35%
Financial Services
2.3x
+79%
5Y Avg
2.1x
+102%
Dividend Yield
0.31%
S&P 500
1.91%
-84%
Financial Services
2.63%
-88%
5Y Avg
—
—
| Metric | IBKR | S&P 500 | Financial Services | 5Y Avg IBKR |
|---|---|---|---|---|
| Forward PE | 38.2x | 18.8x+103% | 10.7x+258% | — |
| Trailing PE | 43.2x | 24.4x+77% | 13.6x+218% | 22.6x+91% |
| PEG Ratio | 1.46x | 1.66x-12% | 0.95x+53% | — |
| EV/EBITDA | 4.3x | 15.2x-72% | 11.4x-63% | 4.3x |
| Price/FCF | 2.7x | 20.7x-87% | 11.1x-76% | 1.8x+48% |
| Price/Sales | 4.2x | 3.1x+35% | 2.3x+79% | 2.1x+102% |
| Dividend Yield | 0.31% | 1.91% | 2.63% | — |
IBKR trades above S&P 500 benchmarks on 3 of 6 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolIBKR Financial Health
Verdict
Adequate
IBKR generates 5.2% ROE and 0.5% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
$10.2B
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
86.0%
Net Margin
Net income divided by revenue
9.6%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.20
ROE
Return on equity — the primary profitability signal for banks
5.2%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
24.7%
ROA
Return on assets, trailing twelve months
0.5%
Cash & Equivalents
Liquid assets on the balance sheet
$5.0B
Net Cash
Cash exceeds total debt — no net leverage
$4.9B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
5.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.5%
Dividend
0.3%
Buyback
0.2%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$84M
Dividend / Share
Annualized trailing dividend per share
$0.30
Payout Ratio
Share of earnings distributed as dividends
13.6%
Shares Outstanding
Declining as buybacks retire shares
446M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageIBKR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Regulatory & Compliance Exposure
Operating in over 160 markets exposes IBKR to a complex web of regulations. Recent settlements for sanctions violations demonstrate the real‑world cost of non‑compliance, potentially raising expenses and constraining growth.
High Risk
Interest Rate Sensitivity
IBKR’s earnings on customer cash balances rise with higher rates but fall when rates decline, directly compressing profitability. A sustained rate drop could reduce net interest income and squeeze margins.
High Risk
Cybersecurity & System Reliability
As a technology‑dependent broker, IBKR faces cyber‑attack risks and third‑party system failures. A major incident could disrupt trading, erode client trust, and trigger regulatory scrutiny.
Medium
Trading Volume Cyclicality
Revenue is tied to market activity; low volumes during economic lulls can soften earnings, while high volatility can boost trading but also heighten credit and default risk.
Medium
Retail Client Expansion Risk
Growing the retail base may increase churn and lower average revenue per user, requiring higher support and education costs that could erode profitability.
Medium
RPC Decline Impact
SEC pass‑through fee changes have driven a trend of declining revenue per contract, potentially reducing overall revenue unless offset by higher volume or account growth.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why IBKR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Robust Revenue & Earnings Growth
IBKR has delivered a compound annual growth rate of roughly 18% in net revenues, 22% in income before taxes, and 26% in net income over the past five fiscal years. In 2025, the company reported net revenues of $6.205 billion, income before taxes of $4.771 billion, and net income of $984 million.
High Pre‑Tax Margins
The firm consistently maintains pre‑tax margins around 77%, driven by its efficient, automation‑first operating model that keeps costs low while scaling revenue.
Accelerating Client Base & Equity
In February 2026, client accounts grew 31% year‑over‑year and total client equity jumped 40% to $820 billion. By March 2026, accounts reached 4.75 million with equity at $789 billion.
Automation‑First Operating Model
IBKR’s technology‑driven, highly automated infrastructure delivers cost efficiency and operational leverage, enabling competitive pricing and advanced features for clients.
Expanding Growth Opportunities
The firm has significant room to grow, especially internationally, and has recently added crypto portfolio transfer capabilities, stablecoin funding for U.S. clients, and crypto trading in the European Economic Area, enhancing its long‑term value proposition.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
IBKR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$96.00
52W Range Position
96%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$49.30
+94.7% from the low
52-Week High
$97.81
-1.9% from the high
1 Month
+11.47%
3 Month
+40.25%
YTD
+42.8%
1 Year
+82.5%
3Y CAGR
+68.5%
5Y CAGR
+43.4%
10Y CAGR
+26.5%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
IBKR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
38.2x
vs 14.0x median
+173% above peer median
Revenue Growth
+8.7%
vs +11.1% median
-22% below peer median
Net Margin
9.6%
vs 13.1% median
-27% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
IBK IBKR Interactive Brokers Group, Inc. | $42.8B | 38.2x | +8.7% | 9.6% | Buy | -8.7% |
SCH SCHW The Charles Schwab Corporation | $160.7B | 14.9x | +5.5% | 33.3% | Buy | +32.9% |
AMT AMTD AMTD IDEA Group | $7M | — | — | 106.1% | — | — |
RJF RJF Raymond James Financial, Inc. | $30.7B | 13.1x | +6.3% | 13.1% | Hold | +3.0% |
LPL LPLA LPL Financial Holdings Inc. | $23.6B | 12.8x | +16.6% | 5.1% | Buy | +50.0% |
SNE SNEX StoneX Group Inc. | $11.0B | 22.6x | +16.0% | 0.3% | Buy | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
IBKR Dividend and Capital Return
IBKR returns 0.5% total yield, led by a 0.31% dividend.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.5%
Dividend + buyback return per year
Buyback Yield
0.2%
Dividend Yield
0.31%
Payout Ratio
13.6%
How IBKR Splits Its Return
Div 0.31%
Buyback 0.2%
Dividend 0.31%Buybacks 0.2%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.30
Growth Streak
Consecutive years of dividend increases
2Y
3Y Div CAGR
44.6%
5Y Div CAGR
24.8%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$84M
Estimated Shares Retired
875.0K
Approx. Share Reduction
0.2%
Shares Outstanding
Current diluted share count from the screening snapshot
446M
| Year | Div / Share | YoY Grw |
|---|---|---|
| 2026 | $0.17 | — |
| 2025 | $0.30 | +42.4% |
| 2024 | $0.21 | +112.5% |
| 2023 | $0.10 | 0.0% |
| 2022 | $0.10 | 0.0% |
FAQ
7 questionsIBKR Investor Questions
Common questions answered from live analyst data and company financials.
01Is Interactive Brokers Group, Inc. (IBKR) stock a buy or sell in 2026?
Interactive Brokers Group, Inc. (IBKR) is rated Buy by Wall Street analysts as of 2026. Of 19 analysts covering the stock, 10 rate it Buy or Strong Buy, 8 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $88, implying -8.7% from the current price of $96. The bear case scenario is $64 and the bull case is $133.
02What is the IBKR stock price target for 2026?
The Wall Street consensus price target for IBKR is $88 based on 19 analyst estimates. The high-end target is $98 (+2.1% from today), and the low-end target is $82 (-14.6%). The base case model target is $101.
03Is Interactive Brokers Group, Inc. (IBKR) stock overvalued in 2026?
IBKR trades at 38.2x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Interactive Brokers Group, Inc. (IBKR) stock in 2026?
The primary risks for IBKR in 2026 are: (1) Regulatory & Compliance Exposure — Operating in over 160 markets exposes IBKR to a complex web of regulations. (2) Interest Rate Sensitivity — IBKR’s earnings on customer cash balances rise with higher rates but fall when rates decline, directly compressing profitability. (3) Cybersecurity & System Reliability — As a technology‑dependent broker, IBKR faces cyber‑attack risks and third‑party system failures. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Interactive Brokers Group, Inc.'s revenue and earnings forecast?
Analyst consensus estimates IBKR will report consensus revenue of $11.1B (+8.7% year-over-year) and EPS of $2.54 (+15.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $12.1B in revenue.
06When does Interactive Brokers Group, Inc. (IBKR) report its next earnings?
Interactive Brokers Group, Inc. is expected to report its next earnings on approximately 2026-07-16. Consensus expects EPS of $0.59 and revenue of $1.7B. Over recent quarters, IBKR has beaten EPS estimates 73% of the time.
07How much free cash flow does Interactive Brokers Group, Inc. generate?
Interactive Brokers Group, Inc. (IBKR) generated $15.7B in free cash flow over the trailing twelve months — a free cash flow margin of 153.9%. IBKR returns capital to shareholders through dividends (0.3% yield) and share repurchases ($84M TTM).