Interactive Brokers 8-K

PositiveEarnings

Higher trading volumes lifted commissions; larger customer margin loans and credit balances plus stronger securities lending boosted net interest income.

Filed 2026-01-20 16:02 ET

Summary

Q4 2025 results, with growth in revenue and customer activity. GAAP net revenues rose 18% Y/Y, driven by higher commission revenue and net interest income. The board declared a $0.08 quarterly cash dividend, payable 3/13/2026 to shareholders of record 2/27/2026.

Key Figures

Metric Q4 2025 Q4 2024 Y/Y
Net revenues (GAAP) $1.64B $1.39B 18%
Net revenues (non-GAAP adjusted) $1.67B $1.42B 17%
Income before income taxes (GAAP) $1.30B $1.04B 25%
Income before income taxes (non-GAAP adjusted) $1.33B $1.08B 23%
Net income (GAAP) $1.20B $969M 24%
Net income available for common stockholders (GAAP) $284M $217M 31%
Net income available for common stockholders (non-GAAP adjusted) $289M $222M 30%
Diluted EPS (GAAP) $0.63 $0.50 26%
Diluted EPS (non-GAAP adjusted) $0.65 $0.51 27%
  • Commission revenue increased 22% to $582M on higher trading volumes; net interest income increased 20% to $966M, reflecting higher average customer margin loans and credit balances and stronger securities lending activity. Execution, clearing and distribution fees decreased 21% to $91M, primarily due to lower regulatory fees and greater capture of liquidity rebates.
  • Customer accounts rose 32% to 4.40M, customer equity 37% to $779.9B and daily average revenue trades 30% to 4.04M. Customer margin loans increased 40% to $90.2B; customer credits increased 34% to $160.1B.
  • Pretax margin was 79% GAAP and adjusted, vs 75% GAAP and 76% adjusted a year earlier. Total equity was $20.5B at quarter-end, vs $16.6B a year earlier.

Guidance

No guidance in this filing.

Investor Takeaways

  • Next-quarter revenue and customer activity will show whether the growth in commissions and net interest income continues.

The summary is written by an AI model reading the filing.

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