Interactive Brokers Group

IBKR

Investment - Banking & Investment Services · Financial Services

Price

$93.87

+4.02 (+4.47%)

Market Cap

$162.21B

Exchange

NASDAQ

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Exceptional

Stability

Strong

Valuation

Good

Dividends

Weak

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Share count rising — dilution

+17.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 380.0M (2021) → 447.9M (2025)

Winston Score History

The full picture

Interactive Brokers is an electronic brokerage firm that lets individuals, hedge funds, and financial advisors buy and sell stocks, options, futures, currencies, bonds, and funds across more than 150 markets worldwide. It is known for offering some of the lowest trading commissions in the industry and is one of the largest electronic brokers in the United States by trading volume.

The company makes money primarily through commissions on trades, interest income from client margin loans and cash balances, and fees for various financial services. It operates globally, serving clients in over 200 countries, and generates a significant portion of revenue from net interest income, which makes earnings sensitive to interest rate levels. Its main competitive advantages are its low-cost technology platform and broad market access, but a prolonged drop in interest rates or a slowdown in trading activity could meaningfully reduce profits going forward.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+19.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+37.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

2.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$130.9B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Interactive Brokers Group is a rare growth stock that's already generating positive cash flow while growing at 20%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

95.2%

Premium pricing power — 95.2% gross margin

Profit after running costs

Operating Margin

86.4%

Excellent — 86.4% operating margin

Return on the money invested

ROCE

163.5%

Exceptional — 163.5% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+15.8%

Fast-growing sales (+15.8% YoY)

Profit growth

EPS YoY

+31.8%

Earnings growing fast (+31.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

1495%

Turns 1495% of profit into real cash

Spare cash per sale

FCF Margin

150.9%

Converts sales into free cash efficiently (150.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

2.17x

Tight — interest eats into profit (2.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

37.1x

Pricey — P/E 37.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+8.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (37.1 → 28.9)

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Dividends

Dividend

Dividend Yield

0.36%

Small dividend — 0.36% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-62.8%

Dividend cut (-62.8% YoY) — warning sign

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