Interactive Brokers (IBKR) FY2024 10-K Annual Report
Interactive Brokers (IBKR) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Interactive Brokers FY2024 10-K Analysis
Business Overview
- • Core business model: Electronic brokerage services providing global trading platforms for individual and institutional clients
- • No new products, services, or segments introduced or emphasized in fiscal year 2025 filing
- • Continued emphasis on compliance with insider trading laws via updated Insider Trading Policy
- • No reported changes in employee count, R&D spend, geographic expansion, or market share disclosed
- • Disclosure practices include posting amendments to Code of Ethics and Business Conduct on investor relations website
Management Discussion & Analysis
- • No revenue or profitability figures disclosed in provided MD&A excerpt
- • Non-GAAP adjusted metrics defined (adjusted net revenues, income, EPS) excluding investment mark-to-market, TRA liability remeasurement, bad debt
- • IBG LLC ownership: company holds 25.8%, Holdings owns 74.2%; company’s net income share ~25.6% vs 25.0% prior year
- • No cash flow, capital allocation, segment performance, or forward guidance details included in text
Risk Factors
- • Regulatory risk from exchange-mandated order flow programs, generating $14 million in fee income driven by higher 2024 customer trading volume
- • Geopolitical exposure from 38% of 2024 commissions derived from non-U.S. subsidiary operations
- • Operational risk due to smaller average commission per cleared customer order declining 9% to $2.86 in 2024 from $3.14 in 2023
- • Competitive pressure from IBKR Lite offering commission-free trades, impacting average commissions per order across stocks, options, and forex
- • Financial risk of elevated interest expense reaching $4.19 billion in 2024, up from $3.44 billion in 2023, narrowing net interest margin
Interactive Brokers FY2024 Key Financial MetricsXBRL
Revenue
$2.0B
▲ +27.0% YoY
Net Income
$755M
▲ +25.8% YoY
Net Margin
38.2%
▼ -35bp YoY
ROE
17.6%
▲ +90bp YoY
Total Assets
$150.1B
▲ +16.9% YoY
EPS (Diluted)
$6.93
▲ +22.2% YoY
Operating Cash Flow
$8.7B
▲ +92.0% YoY
Source: XBRL data from Interactive Brokers FY2024 10-K filing on SEC EDGAR. All figures in USD.
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