Interactive Brokers (IBKR) FY2025 10-K Annual Report
Interactive Brokers (IBKR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. 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 FY2025 10-K Analysis
Business Overview
- • Automated global broker serving ~4.4M institutional/individual accounts across 170+ exchanges, 40 countries, 29 currencies from single unified platform
- • Joined S&P 500 on August 28, 2025 — milestone driving increased index fund ownership and enhanced stock liquidity
Management Discussion & Analysis
- • Net revenues $6,205M, up $1,020M (+20%) YoY; commissions +27% to $2,149M, net interest income +13% to $3,563M
- • Pretax profit margin 77% vs 71% prior year; non-interest expenses fell to 23% of net revenues vs 29% prior year
Risk Factors
- • Emerging regulatory risk: ForecastEx (CFTC-registered DCM/DCO) faces state gaming authority litigation and uncertain legal framework for prediction/election contracts
- • International exposure: ~30% of net revenues from non-U.S. subsidiaries; U.S.-China tensions flagged as specific regional threat to Hong Kong operations
Interactive Brokers FY2025 Key Financial MetricsXBRL
Revenue
$2.4B
▲ +23.4% YoY
Net Income
$984M
▲ +30.3% YoY
Net Margin
40.3%
▲ +214bp YoY
ROE
18.3%
▲ +71bp YoY
Total Assets
$203.2B
▲ +35.4% YoY
EPS (Diluted)
$2.22
▼ -68.0% YoY
Operating Cash Flow
$15.8B
▲ +81.2% YoY
Source: XBRL data from Interactive Brokers FY2025 10-K filing on SEC EDGAR. All figures in USD.
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