Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

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IBKR stock analysis · Financials · Investment Banking & Brokerage

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$87.04HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
Needs share-count review

Price available; dated issuer common capital structure or outstanding share count still requires review.

Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

Requires market caps for at least five comparable profitable issuers.

Requires market caps for at least five comparable profitable issuers.

How this is calculated ↗
Valuation

Historical multiples

Requires three annual historical market caps and eligible filed earnings.

Requires three annual historical market caps and eligible filed earnings.

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

35.4%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

A dated price is available, but an unambiguous issuer share count is missing or the share-class capital structure needs review.

A dated price is available, but an unambiguous issuer share count is missing or the share-class capital structure needs review.

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 15.8B2020-12-31: cfo $8,068,000,000.0020202021-12-31: cfo $5,896,000,000.0020212022-12-31: cfo $3,968,000,000.0020222023-12-31: cfo $4,544,000,000.0020232024-12-31: cfo $8,724,000,000.0020242025-12-31: cfo $15,811,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-312.4B4.4B15.8B203.2B
2024-12-312B3.4B8.7B150.1B
2023-12-311.6B2.8B4.5B128.3B
2022-12-311.5B1.8B4B115.1B
2021-12-311.6B1.6B5.9B109.1B
2020-12-311.3B1.2B8.1B95.7B
2019-12-31847M1.1B2.7B71.7B
2018-12-31925M1.1B2.4B60.5B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue2.4BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-27
netIncome4.4BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-27
Parent/common earnings proxy984MNetIncomeLossAvailableToCommonStockholdersBasic2026-02-27
cfo15.8BNetCashProvidedByUsedInOperatingActivities2026-02-27
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets203.2BAssets2026-02-27
equity20.5BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-27
Parent book equity proxy5.4BStockholdersEquity2026-02-27
debtNot reported under a supported tag
shortDebtNot reported under a supported tag
cash5BCashAndCashEquivalentsAtCarryingValue2026-02-27
shares443.9MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-27
dividends134MPaymentsOfDividendsCommonStock2026-02-27
buybacksNot reported under a supported tag
issuance95MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from the sale of treasury stock: 95000000 USD [us-gaap:ProceedsFromSaleOfTreasuryStock]. All 6 financing lines reconcile exactly to reported financing cash flow -969000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-02-27