10-QPeriod: Q3 FY2025

Interactive Brokers Group, Inc. Quarterly Report for Q3 Ended Sep 30, 2025

Filed November 5, 2025For Securities:IBKR

Summary

Interactive Brokers Group, Inc. (IBKR) reported strong financial results for the third quarter and first nine months of 2025, driven by robust growth in customer trading volumes and increased net interest income. Total net revenues for the quarter rose 21% year-over-year to $1.66 billion, with net income available to common stockholders increasing by 43% to $263 million, leading to diluted EPS of $0.59. The company's balance sheet remains highly liquid, with total assets reaching $200.2 billion, a significant increase driven by higher customer credit and margin balances. The company experienced substantial growth in commissions, up 23% year-over-year, due to increased stock and options trading volumes. Net interest income also saw a significant boost, growing 21% as a result of stronger securities lending activity and higher average customer margin loans and credit balances, despite a slight decline in net interest margin due to global interest rate cuts. Management highlighted operational efficiency, with non-interest expenses decreasing as a percentage of net revenues, reflecting a focus on automation and cost management.

Financial Highlights

31 data points
Beta

Revenue

$603.00M

Net Income

$263.00M

43.6% Net Margin

EPS (Diluted)

$0.59

Total Assets

$200.22B

Cash & Equivalents

$5.13B

Free Cash Flow

$4.48B

Financial Statements
Beta
Revenue$603.00M
SG&A Expenses$62.00M
Net Income$263.00M
EPS (Basic)$0.59
EPS (Diluted)$0.59
Shares Outstanding (Basic)444.06M
Shares Outstanding (Diluted)446.53M

Key Highlights

  • 1Total net revenues increased by 21% to $1.66 billion for the three months ended September 30, 2025, compared to the prior-year quarter.
  • 2Net income available for common stockholders grew by 43% to $263 million for the three months ended September 30, 2025, resulting in diluted EPS of $0.59.
  • 3Commissions revenue increased by 23% year-over-year to $537 million, driven by higher customer trading volumes in stocks and options.
  • 4Net interest income rose by 21% to $967 million, supported by stronger securities lending activity and increased customer margin loans and credit balances.
  • 5Total assets grew to $200.2 billion as of September 30, 2025, indicating significant expansion of the customer base and assets under custody.
  • 6Non-interest expenses as a percentage of total net revenues decreased to 21% from 33% in the prior-year quarter, highlighting improved operational efficiency.
  • 7Total equity increased to $19.5 billion as of September 30, 2025, reflecting strong comprehensive income and growth in retained earnings.

Frequently Asked Questions

Revenue growth was primarily driven by a significant increase in commission revenue, up 23% year-over-year, due to higher customer trading volumes in stocks and options. Additionally, net interest income grew by 21%, benefiting from stronger securities lending activity and increased customer margin loans and credit balances.

Interactive Brokers demonstrated strong cost control, with non-interest expenses decreasing to 21% of total net revenues, down from 33% in the prior-year quarter. This improvement in efficiency was achieved through a focus on automation and favorable reductions in general and administrative expenses and execution, clearing, and distribution fees.

The company maintains a highly liquid balance sheet with total assets of $200.2 billion as of September 30, 2025. Cash and cash equivalents, along with segregated cash and securities, provide a substantial liquidity cushion. Total equity grew to $19.5 billion, reflecting strong financial health and the capacity to support ongoing business operations and expansion.

While the company is subject to various legal and regulatory matters in the ordinary course of business, management believes the resolution of these matters will not have a material effect on the company's business or financial condition. A notable event was the settlement with OFAC for $11.8 million related to sanctions compliance, which was disclosed as a regulatory matter.