01—Abstract
Summary
Summary of the 10-K filed February 27, 2026. Cited figures are marked; the original filing is the authoritative source.
Interactive Brokers Group, Inc. (IBKR) reported strong financial performance for the year ended December 31, 2025, with total net revenues increasing by 20% to $6.2 billiona and income before income taxes rising by 29% to $4.8 billion.
This growth was primarily driven by a significant increase in customer trading volumes across equities, options, and futures, leading to a 27%b surge in commission revenue. The company also benefited from higher net interest income, fueled by increased customer margin loans and credit balances, despite a slight decline in net interest margin due to lower benchmark interest rates. A key milestone for IBKR in 2025 was its inclusion in the S&P 500 Index, which is expected to enhance investor interest and stock liquidity.
The company continues to invest heavily in its proprietary technology to maintain its position as a low-cost, efficient global brokerage platform, offering a wide range of trading products and services. Despite a challenging economic environment with ongoing geopolitical uncertainties, IBKR demonstrated resilience and adaptability, underscoring its robust business model and operational efficiency.
02—Key points
Key Highlights
- Total net revenues increased by 20% to $6.2 billion in 2025, driven by robust commission growth and higher net interest income.
- Income before income taxes grew by 29% to $4.8 billion, reflecting strong operational leverage and efficient cost management.
- Customer trading volumes saw significant increases across equities (38%), options (26%), and futures (12%), boosting commission revenue by 27%.
- Inclusion in the S&P 500 Index in August 2025 is a significant achievement, expected to increase institutional investor interest and stock liquidity.
- Net interest income rose by 13% to $3.6 billion, supported by higher customer margin loans and credit balances, despite a decrease in net interest margin.
- The company maintained its commitment to low costs and technological innovation, enhancing its competitive edge in the global brokerage market.
- IBKR's operational efficiency is highlighted by a pretax profit margin of 77% for 2025, an improvement from 71% in the prior year.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 27, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $2.44B$1.98B | +23.4% |
| SG&A Expenses | $247.00M$314.00M | −21.3% |
| Net Income | $984.00M$755.00M | +30.3% |
| EPS (Basic) | $2.23$1.75 | +27.4% |
| EPS (Diluted) | $2.22$1.73 | +28.3% |
| Shares Outstanding (Basic) | 440.93M432.45M | +2.0% |
| Shares Outstanding (Diluted) | 443.86M436.01M | +1.8% |
05—Questions
Frequently Asked Questions
What was Interactive Brokers' (IBKR) primary revenue driver in 2025?
The primary revenue driver for Interactive Brokers in 2025 was commissions, which increased by 27% to $2.15 billion, driven by a substantial rise in customer trading volumes across stocks, options, and futures.
What major milestone did IBKR achieve in 2025?
Interactive Brokers achieved a significant milestone in August 2025 by being included in the S&P 500 Index. This inclusion is expected to increase institutional investor interest and enhance the liquidity and trading depth of its common stock.
How did IBKR's net interest income perform in 2025?
IBKR's net interest income increased by 13% to $3.56 billion in 2025. This growth was primarily attributed to higher average customer margin loans and credit balances, as well as stronger securities lending activity, despite a slight decrease in the net interest margin due to lower benchmark interest rates.
What is IBKR's strategic focus, as indicated in the filing?
Interactive Brokers' strategic focus remains on leveraging its proprietary technology to automate broker-dealer functions, offering clients low costs, superior execution, and a wide array of global products. They continue to invest in technology to maintain a competitive advantage and adapt to evolving market conditions.
06—Continue