Company Overview
Interactive Brokers Group runs an electronic brokerage platform that lets clients trade across markets. The business centers on brokerage services and the infrastructure that supports high-volume, low-friction execution. It operates at large scale, with a market value around USD 108 billion. The investment case often hinges on how efficiently the platform converts its footprint into durable shareholder returns.
Analysis of recent data
FundamentalsIn 2025, reported in USD, revenue was about USD 291 million, up 3.9% year over year, while net income was USD 4.36 billion. Profitability metrics remain elevated on a trailing basis, with a 45.77% operating margin and 19.88% ROE.
The balance sheet shows USD 5.0 billion of cash against USD 19 million of total debt. Spending levels were modest relative to income, with depreciation and amortization at USD 61 million and capital expenditure at USD 67 million.
Valuation
DCF / MultiplesAt USD 63.69, the stock trades within the model’s valuation range. The headline multiples are rich, with a 110.68x trailing P/E and 26.64x EV/EBITDA alongside that wide valuation spread.
Conclusion
TakeawayThe pricing assumes high returns remain a defining feature. That can work if ROE stays elevated and stable. The main risk is returns fade while the multiple stays high. On balance, the setup reads as return-quality priced in.