Recent News
June 22, 2026 — Interactive Brokers expanded its agentic trading integrations to add ChatGPT and Grok, broadening client access to multiple AI platforms. July 31, 2026 — the company filed an 8‑K registering up to 920,000 shares under a prospectus supplement.
Technical Analysis
Trend strength (ADX) and directional indicators: ADX at 12.64 indicates no dominant trend; DI+ shows a peak-and-reversal (bearish) while DI- shows a dip-and-reversal (bearish), together signaling near-term downside pressure that tempers upside implied by valuation.
MACD momentum: MACD sits at 1.01 with its signal at 0.69, but the MACD trend registers a peak-and-reversal, indicating bearish momentum despite the MACD currently above its signal line; momentum appears to be weakening and may favor sellers in the short run.
Momentum/Regression Oscillator (MRO): MRO at 21.83 with a peak-and-reversal indicates price sits above target and likely to decrease, reinforcing the immediate downward bias signaled by MACD and the directional indicators.
RSI: RSI at 51.87 with a peak-and-reversal shows momentum turning down from neutral, providing limited near-term upside room while preventing an oversold bounce signal.
Price versus moving averages and bands: Last close at $90.39 trades below the 12-day EMA ($93.66) and the 20-day average ($93.34) — both show peak-and-reversal behavior — but remains above the 200-day average ($78.31). Price sits just above the 1x lower Bollinger band ($90.10) and near the SuperTrend lower support ($89.33), suggesting short-term support near current levels while short-term indicators favor downward pressure.
Fundamental Analysis
Profitability: Gross margin equals 89.19%, operating margin equals 85.65%, and EBIT margin equals 87.95%. Those margins sit well above the industry peer mean (gross/operating/EBIT peer mean ≈ 36.15% / 15.89% / 14.62%) and above the industry peer high for EBIT margin (≈17.79%), reflecting exceptional operating leverage and fee-driven revenue mix.
Revenue and earnings growth: Revenue grew 92.18% year-over-year while quarter-over-quarter revenue changed -4.90%, indicating large YoY expansion with a recent sequential slowdown. Earnings grew 76.24% YoY but show a QoQ change of -295.01% (note: large QoQ swing), underscoring meaningful year-over-year momentum alongside short-term variability.
Cash generation and valuation metrics: Free cash flow equals $6,198,000,000 with a free cash flow yield of 15.76%, above the industry peer mean free cash flow yield of approximately 2.20%. Operating cash flow equals $6,216,000,000 and free cash growth remains positive. WMDST notes those cash metrics support the current undervaluation judgment despite elevated market multiples.
Market multiples and balance-sheet metrics: Trailing P/E at 126.52 sits above the industry peer mean (≈87.62) and above the industry peer high (≈117.13); price-to-book at 6.66 sits above the industry peer mean (≈5.19) but below the industry peer median (≈7.05). Price-to-sales at 13.13 sits near the industry peer high (≈13.24). Asset turnover (0.0129) stays below the industry peer mean (≈0.1715). Leverage metrics remain minimal: debt-to-equity at 0.22% and total debt $13,000,000 versus total assets $247,309,000,000.
Earnings quality and per-share metrics: Reported EPS of $0.69 beat the estimate of $0.64, delivering an EPS surprise of +7.8%. Forward EPS sits at $0.795 with a forward P/E of ~107.26. Return on invested capital registers 40.92% while return on equity equals 5.29% — the latter sits roughly in line with the industry peer mean (≈5.36%).
Valuation note: The current valuation as determined by WMDST labels Interactive Brokers as under-valued based on strong margins, robust free cash flow yield, and high year-over-year revenue and earnings growth; elevated trailing multiples reflect market expectations but cash conversion and margin profile support the undervaluation conclusion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-21 |
| NEXT REPORT DATE: | 2026-10-20 |
| CASH FLOW | Begin Period Cash Flow | $ 58.5 B |
| Operating Cash Flow | $ 6.2 B | |
| Capital Expenditures | $ -18.00 M | |
| Change In Working Capital | $ 4.8 B | |
| Dividends Paid | $ -39.00 M | |
| Cash Flow Delta | $ 5.8 B | |
| End Period Cash Flow | $ 64.3 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 3.0 B | |
| Forward Revenue | $ 860.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 324.0 M | |
| Depreciation | $ 26.0 M | |
| Depreciation and Amortization | $ 26.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 430.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 2.7 B | |
| EBITDA | $ 2.7 B | |
| EBIT | $ 2.6 B | |
| Operating Income | $ 2.6 B | |
| Interest Income | — | |
| Interest Expense | $ 1.2 B | |
| Net Interest Income | $ -1.18 B | |
| Income Before Tax | $ 1.5 B | |
| Tax Provision | $ 118.0 M | |
| Tax Rate | 8.104 % | |
| Net Income | $ 312.0 M | |
| Net Income From Continuing Operations | $ 1.3 B | |
| EARNINGS | ||
| EPS Estimate | $ 0.64 | |
| EPS Actual | $ 0.69 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 7.812 % | |
| Forward EPS | $ 0.80 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 247.3 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 5.9 B | |
| Total Current Assets | $ 218.7 B | |
| Cash and Short-Term Investments | $ 7.7 B | |
| Cash | $ 7.7 B | |
| Net Receivables | $ 108.9 B | |
| Inventory | — | |
| Long-Term Investments | $ 1.8 B | |
| LIABILITIES | ||
| Accounts Payable | $ 178.6 B | |
| Short-Term Debt | $ 13.0 M | |
| Total Current Liabilities | $ 179.1 B | |
| Net Debt | — | |
| Total Debt | $ 13.0 M | |
| Total Liabilities | $ 225.1 B | |
| EQUITY | ||
| Total Equity | $ 5.9 B | |
| Retained Earnings | $ 3.9 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 13.10 | |
| Shares Outstanding | 450.572 M | |
| Revenue Per-Share | $ 6.65 | |
| VALUATION | Market Capitalization | $ 39.3 B |
| Enterprise Value | $ 31.6 B | |
| Enterprise Multiple | 11.885 | |
| Enterprise Multiple QoQ | 5.42 % | |
| Enterprise Multiple YoY | 18.939 % | |
| Enterprise Multiple IPRWA | high: 116.997 mean: 67.599 median: 64.36 low: 28.76 IBKR: 11.885 |
|
| EV/R | 10.56 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 41.888 | |
| Asset To Liability | 1.099 | |
| Debt To Capital | 0.002 | |
| Debt To Assets | 0.0 | |
| Debt To Assets QoQ | — | |
| Debt To Assets YoY | — | |
| Debt To Assets IPRWA | high: 0.278 median: 0.187 mean: 0.147 low: 0.044 IBKR: 0.0 |
|
| Debt To Equity | 0.002 | |
| Debt To Equity QoQ | 2.326 % | |
| Debt To Equity YoY | 32.53 % | |
| Debt To Equity IPRWA | high: 0.907 median: 0.519 mean: 0.452 low: 0.127 IBKR: 0.002 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 6.662 | |
| Price To Book QoQ | 17.543 % | |
| Price To Book YoY | 22.447 % | |
| Price To Book IPRWA | high: 9.693 median: 7.053 IBKR: 6.662 mean: 5.191 low: 1.149 |
|
| Price To Earnings (P/E) | 126.521 | |
| Price To Earnings QoQ | 6.827 % | |
| Price To Earnings YoY | 24.0 % | |
| Price To Earnings IPRWA | IBKR: 126.521 high: 117.133 median: 105.051 mean: 87.623 low: 52.376 |
|
| PE/G Ratio | 8.435 | |
| Price To Sales (P/S) | 13.129 | |
| Price To Sales QoQ | 9.741 % | |
| Price To Sales YoY | 23.474 % | |
| Price To Sales IPRWA | high: 13.237 IBKR: 13.129 median: 10.653 mean: 10.545 low: 2.484 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 107.259 | |
| Forward PE/G | 7.151 | |
| Forward P/S | 45.692 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 0.986 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.013 | |
| Asset Turnover Ratio QoQ | 2.552 % | |
| Asset Turnover Ratio YoY | -11.676 % | |
| Asset Turnover Ratio IPRWA | high: 0.304 median: 0.22 mean: 0.171 low: 0.033 IBKR: 0.013 |
|
| Receivables Turnover | 0.031 | |
| Receivables Turnover Ratio QoQ | 2.508 % | |
| Receivables Turnover Ratio YoY | -17.274 % | |
| Receivables Turnover Ratio IPRWA | high: 5.524 mean: 2.536 median: 1.776 low: 0.3 IBKR: 0.031 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 2976.94 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.076 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -0.692 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 5.9 B | |
| Net Invested Capital | $ 5.9 B | |
| Invested Capital | $ 5.9 B | |
| Net Tangible Assets | $ 5.9 B | |
| Net Working Capital | $ 39.6 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.043 | |
| Current Ratio | 1.221 | |
| Current Ratio QoQ | 4.336 % | |
| Current Ratio YoY | 10.063 % | |
| Current Ratio IPRWA | high: 4.58 mean: 1.774 IBKR: 1.221 low: 0.636 median: 0.636 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.005 | |
| Cost Of Debt | 6117.774 % | |
| Interest Coverage Ratio | 2.235 | |
| Interest Coverage Ratio QoQ | 0.0 % | |
| Interest Coverage Ratio YoY | 7.926 % | |
| Interest Coverage Ratio IPRWA | high: 7283.0 median: 7283.0 mean: 4933.82 low: 2.984 IBKR: 2.235 |
|
| Operating Cash Flow Ratio | -0.044 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 57321.211 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 8.0 | |
| Dividend Payout Ratio | 0.125 | |
| Dividend Rate | $ 0.09 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 13.056 % | |
| Revenue Growth | 13.228 % | |
| Revenue Growth QoQ | -489.632 % | |
| Revenue Growth YoY | 92.184 % | |
| Revenue Growth IPRWA | high: 28.021 % IBKR: 13.228 % median: 5.109 % mean: 1.308 % low: -27.541 % |
|
| Earnings Growth | 15.0 % | |
| Earnings Growth QoQ | -295.008 % | |
| Earnings Growth YoY | 76.243 % | |
| Earnings Growth IPRWA | high: 300.0 % IBKR: 15.0 % median: -2.069 % mean: -8.855 % low: -61.355 % |
|
| MARGINS | ||
| Gross Margin | 89.186 % | |
| Gross Margin QoQ | -0.554 % | |
| Gross Margin YoY | 0.548 % | |
| Gross Margin IPRWA | IBKR: 89.186 % high: 49.135 % mean: 36.153 % median: 34.2 % low: 30.726 % |
|
| EBIT Margin | 87.951 % | |
| EBIT Margin QoQ | -0.163 % | |
| EBIT Margin YoY | 1.71 % | |
| EBIT Margin IPRWA | IBKR: 87.951 % high: 17.79 % median: 17.79 % mean: 14.617 % low: 3.23 % |
|
| Return On Sales (ROS) | 85.648 % | |
| Return On Sales QoQ | 0.011 % | |
| Return On Sales YoY | 0.986 % | |
| Return On Sales IPRWA | IBKR: 85.648 % high: 21.198 % median: 17.79 % mean: 15.89 % low: 3.23 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 6.2 B | |
| Free Cash Flow Yield | 15.757 % | |
| Free Cash Flow Yield QoQ | 39.135 % | |
| Free Cash Flow Yield YoY | -41.942 % | |
| Free Cash Flow Yield IPRWA | IBKR: 15.757 % high: 4.403 % median: 3.899 % mean: 2.2 % low: -5.05 % |
|
| Free Cash Growth | 72.887 % | |
| Free Cash Growth QoQ | -42.106 % | |
| Free Cash Growth YoY | -58.926 % | |
| Free Cash Growth IPRWA | IBKR: 72.887 % high: -69.968 % median: -142.201 % mean: -196.477 % low: -324.832 % |
|
| Free Cash To Net Income | 19.865 | |
| Cash Flow Margin | -263.685 % | |
| Cash Flow To Earnings | -25.321 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.06 | |
| Return On Assets (ROA) | 0.134 % | |
| Return On Assets QoQ | 5.512 % | |
| Return On Assets YoY | 1.515 % | |
| Return On Assets IPRWA | high: 3.603 % median: 2.114 % mean: 1.87 % low: 0.516 % IBKR: 0.134 % |
|
| Return On Capital Employed (ROCE) | 3.865 % | |
| Return On Equity (ROE) | 0.053 | |
| Return On Equity QoQ | 10.542 % | |
| Return On Equity YoY | 13.852 % | |
| Return On Equity IPRWA | high: 0.096 mean: 0.054 IBKR: 0.053 median: 0.051 low: 0.028 |
|
| DuPont ROE | 5.433 % | |
| Return On Invested Capital (ROIC) | 40.924 % | |
| Return On Invested Capital QoQ | 8.082 % | |
| Return On Invested Capital YoY | 1.664 % | |
| Return On Invested Capital IPRWA | IBKR: 40.924 % high: 10.544 % median: 10.544 % mean: 6.402 % low: -6.624 % |
|