GAAP DILUTED EPS OF $0.69, ADJUSTED1 EPS OF $0.69
GAAP NET REVENUES OF $1.90 BILLION, ADJUSTED NET REVENUES OF $1.88 BILLION
Interactive Brokers Group, Inc. (NASDAQ:IBKR), an automated global broker, announced results for the quarter ended June 30, 2026.
Reported and adjusted diluted earnings per share were both $0.69 for the current quarter. For the year-ago quarter, reported and adjusted diluted earnings per share were both $0.51.
Reported net revenues were $1.90 billion for the current quarter and $1.88 billion as adjusted. For the year-ago quarter, reported and adjusted net revenues were both $1.48 billion.
Reported income before income taxes was $1.46 billion for the current quarter and $1.44 billion as adjusted. For the year-ago quarter, reported and adjusted income before income taxes were both $1.10 billion.
Financial Highlights
(All comparisons are to the year-ago quarter.)
- Commission revenue increased 30% to $673 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 17%, 14% and 2%, respectively.
- Net interest income increased 23% to $1.06 billion primarily on higher average customer margin loans and customer credit balances.
- Other fees and services increased 40% to $87 million, led by increases of $9 million in payments for order flow from exchange-mandated programs, $8 million in risk exposure fees, and $3 million in market data fees.
- Execution, clearing and distribution fees increased 22% to $142 million, driven by a $19 million increase in regulatory fees, as the SEC Section 31 transaction fee rate increased on April 4, 2026; partially offset by greater capture of liquidity rebates from certain exchanges due to higher trading volumes in stocks and options.
- Pretax profit margin for the current quarter was 77% both as reported and as adjusted. For the year-ago quarter, pretax margin was 75% both as reported and as adjusted.
- Total equity of $22.3 billion.
The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.0875 per share. This dividend is payable on September 14, 2026, to shareholders of record as of September 1, 2026.
Business Highlights
(All comparisons are to the year-ago quarter.)
- Customer accounts increased 34% to 5.19 million.
- Customer equity increased 40% to $930.3 billion.
- Total DARTs2 increased 36% to 4.82 million.
- Customer credits increased 27% to $182.4 billion.
- Customer margin loans increased 67% to $108.5 billion.
Other Items
Other income increased 88% to $79 million. This increase is comprised mainly of $26 million from our currency diversification strategy and $11 million from our investing activities.
In connection with our currency diversification strategy, we base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. In this quarter, our currency diversification strategy decreased our comprehensive earnings by $36 million, as the U.S. dollar value of the GLOBAL decreased by approximately 0.21%. The effects of the currency diversification strategy are reported as components of (1) Other Income (gain of $21 million) and (2) Other Comprehensive Income (loss of $57 million).
Conference Call Information:
Interactive Brokers Group, Inc. will hold a conference call with investors today, July 21, 2026, at 4:30 p.m. ET to discuss its quarterly results. Members of the public who would like to listen to the conference call should register at https://register-conf.media-server.com/register/BIf6232c31bfa24c3d963db61feae68746 to obtain the dial-in details. The number should be dialed approximately ten minutes prior to the start of the conference call. The conference call will also be accessible simultaneously, and through replays, as an audio webcast through the Investor Relations section of the Interactive Brokers web site, www.interactivebrokers.com/ir.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group, Inc. (NASDAQ:IBKR) is a member of the S&P 500. Its affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and prediction markets around the clock on over 170 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, Stockbrokers.com, and many others.
Cautionary Note Regarding Forward-Looking Statements:
The foregoing information contains certain forward-looking statements that reflect the Company’s current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the Company’s actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the Company’s financial results may be found in the Company’s filings with the Securities and Exchange Commission.
| ________________________ |
1 See the reconciliation of non-GAAP financial measures starting on page 11. |
| 2 Daily average revenue trades (DARTs) are based on customer orders. |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||||||||||
CONSOLIDATED STATEMENTS OF INCOME |
||||||||||||||||
(UNAUDITED) |
||||||||||||||||
|
|
Three Months |
|
Six Months |
||||||||||||
|
|
Ended June 30, |
|
Ended June 30, |
||||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
(in millions, except share and per share data) |
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commissions |
|
$ |
673 |
|
|
$ |
516 |
|
|
$ |
1,286 |
|
|
$ |
1,030 |
|
Other fees and services |
|
|
87 |
|
|
|
62 |
|
|
|
173 |
|
|
|
140 |
|
Other income |
|
|
79 |
|
|
|
42 |
|
|
|
145 |
|
|
|
107 |
|
Total non-interest income |
|
|
839 |
|
|
|
620 |
|
|
|
1,604 |
|
|
|
1,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest income |
|
|
2,236 |
|
|
|
1,891 |
|
|
|
4,183 |
|
|
|
3,609 |
|
Interest expense |
|
|
(1,179 |
) |
|
|
(1,031 |
) |
|
|
(2,222 |
) |
|
|
(1,979 |
) |
Total net interest income |
|
|
1,057 |
|
|
|
860 |
|
|
|
1,961 |
|
|
|
1,630 |
|
Total net revenues |
|
|
1,896 |
|
|
|
1,480 |
|
|
|
3,565 |
|
|
|
2,907 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-interest expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Execution, clearing and distribution fees |
|
|
142 |
|
|
|
116 |
|
|
|
248 |
|
|
|
237 |
|
Employee compensation and benefits |
|
|
182 |
|
|
|
163 |
|
|
|
349 |
|
|
|
317 |
|
Occupancy, depreciation and amortization |
|
|
27 |
|
|
|
24 |
|
|
|
54 |
|
|
|
48 |
|
Communications |
|
|
11 |
|
|
|
11 |
|
|
|
23 |
|
|
|
21 |
|
General and administrative |
|
|
68 |
|
|
|
61 |
|
|
|
136 |
|
|
|
123 |
|
Customer bad debt |
|
|
10 |
|
|
|
1 |
|
|
|
11 |
|
|
|
2 |
|
Total non-interest expenses |
|
|
440 |
|
|
|
376 |
|
|
|
821 |
|
|
|
748 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income before income taxes |
|
|
1,456 |
|
|
|
1,104 |
|
|
|
2,744 |
|
|
|
2,159 |
|
Income tax expense |
|
|
118 |
|
|
|
98 |
|
|
|
235 |
|
|
|
189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income |
|
|
1,338 |
|
|
|
1,006 |
|
|
|
2,509 |
|
|
|
1,970 |
|
Net income attributable to noncontrolling interests |
|
|
1,026 |
|
|
|
782 |
|
|
|
1,930 |
|
|
|
1,533 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income available for common stockholders |
|
$ |
312 |
|
|
$ |
224 |
|
|
$ |
579 |
|
|
$ |
437 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
$ |
0.70 |
|
|
$ |
0.51 |
|
|
$ |
1.30 |
|
|
$ |
1.00 |
|
Diluted |
|
$ |
0.69 |
|
|
$ |
0.51 |
|
|
$ |
1.29 |
|
|
$ |
0.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
447,903,860 |
|
|
|
438,457,863 |
|
|
|
446,682,859 |
|
|
|
437,083,330 |
|
Diluted |
|
|
450,088,032 |
|
|
|
441,439,924 |
|
|
|
449,235,445 |
|
|
|
440,459,081 |
|
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME |
||||||||||||||
(UNAUDITED) |
||||||||||||||
|
|
Three Months |
|
Six Months |
||||||||||
|
|
Ended June 30, |
|
Ended June 30, |
||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
(in millions, except share and per share data) |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
||
Net income available for common stockholders |
|
$ |
312 |
|
|
$ |
224 |
|
$ |
579 |
|
|
$ |
437 |
Other comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
||
Cumulative translation adjustment, before income taxes |
|
|
(15 |
) |
|
|
79 |
|
|
(36 |
) |
|
|
107 |
Income taxes related to items of other comprehensive income |
|
|
- |
|
|
|
- |
|
|
- |
|
|
|
- |
Other comprehensive income (loss), net of tax |
|
|
(15 |
) |
|
|
79 |
|
|
(36 |
) |
|
|
107 |
Comprehensive income available for common stockholders |
|
$ |
297 |
|
|
$ |
303 |
|
$ |
543 |
|
|
$ |
544 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Comprehensive earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||
Basic |
|
$ |
0.66 |
|
|
$ |
0.69 |
|
$ |
1.22 |
|
|
$ |
1.24 |
Diluted |
|
$ |
0.66 |
|
|
$ |
0.69 |
|
$ |
1.21 |
|
|
$ |
1.23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
||
Basic |
|
|
447,903,860 |
|
|
|
438,457,863 |
|
|
446,682,859 |
|
|
|
437,083,330 |
Diluted |
|
|
450,088,032 |
|
|
|
441,439,924 |
|
|
449,235,445 |
|
|
|
440,459,081 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Comprehensive income attributable to noncontrolling interests: |
|
|
|
|
|
|
|
|
|
|
|
|
||
Net income attributable to noncontrolling interests |
|
$ |
1,026 |
|
|
$ |
782 |
|
$ |
1,930 |
|
|
$ |
1,533 |
Other comprehensive income - cumulative translation adjustment |
|
|
(42 |
) |
|
|
227 |
|
|
(100 |
) |
|
|
306 |
Comprehensive income attributable to noncontrolling interests |
|
$ |
984 |
|
|
$ |
1,009 |
|
$ |
1,830 |
|
|
$ |
1,839 |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION |
||||||||||
(UNAUDITED) |
||||||||||
|
|
|
|
June 30,
|
|
December 31,
|
||||
|
|
|
|
|
|
|
|
|
||
|
|
|
|
(in millions) |
||||||
|
|
|
|
|
|
|
|
|
||
Assets |
|
|
|
|
|
|
|
|
||
Cash and cash equivalents |
|
|
|
$ |
7,711 |
|
$ |
4,963 |
|
|
Cash - segregated for regulatory purposes |
|
|
|
|
56,594 |
|
|
50,332 |
|
|
Securities - segregated for regulatory purposes |
|
|
|
|
39,604 |
|
|
26,521 |
|
|
Securities borrowed |
|
|
|
|
10,006 |
|
|
11,589 |
|
|
Securities purchased under agreements to resell |
|
|
|
|
13,627 |
|
|
7,117 |
|
|
Financial instruments owned, at fair value |
|
|
|
|
3,317 |
|
|
4,982 |
|
|
Receivables from customers, net of allowance for credit losses |
|
|
|
|
108,939 |
|
|
90,475 |
|
|
Receivables from brokers, dealers and clearing organizations |
|
|
|
|
5,120 |
|
|
5,161 |
|
|
Other assets |
|
|
|
|
2,391 |
|
|
2,100 |
|
|
Total assets |
|
|
|
$ |
247,309 |
|
$ |
203,240 |
|
|
|
|
|
|
|
|
|
|
|
||
Liabilities and equity |
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||
Liabilities |
|
|
|
|
|
|
|
|
||
Short-term borrowings |
|
|
|
$ |
13 |
|
$ |
19 |
|
|
Securities loaned |
|
|
|
|
45,410 |
|
|
24,751 |
|
|
Financial instruments sold but not yet purchased, at fair value |
|
|
|
|
509 |
|
|
740 |
|
|
Other payables: |
|
|
|
|
|
|
|
|
||
Customers |
|
|
|
|
176,779 |
|
|
154,336 |
|
|
Brokers, dealers and clearing organizations |
|
|
|
|
819 |
|
|
1,566 |
|
|
Other payables |
|
|
|
|
1,529 |
|
|
1,356 |
|
|
|
|
|
|
|
179,127 |
|
|
157,258 |
|
|
Total liabilities |
|
|
|
|
225,059 |
|
|
182,768 |
|
|
|
|
|
|
|
|
|
|
|
||
Equity |
|
|
|
|
|
|
|
|
||
Stockholders' equity |
|
|
|
|
5,904 |
|
|
5,363 |
|
|
Noncontrolling interests |
|
|
|
|
16,346 |
|
|
15,109 |
|
|
Total equity |
|
|
|
|
22,250 |
|
|
20,472 |
|
|
Total liabilities and equity |
|
|
|
$ |
247,309 |
|
$ |
203,240 |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||
|
June 30, 2026 |
|
December 31, 2025 |
|||||||
Ownership of IBG LLC Membership Interests |
Interests |
|
% |
|
Interests |
|
|
% |
||
|
|
|
|
|
|
|
|
|
||
IBG, Inc. |
450,671,113 |
|
26.5 |
% |
|
445,612,825 |
|
|
26.3 |
% |
Noncontrolling interests (IBG Holdings LLC) |
1,250,737,416 |
|
73.5 |
% |
|
1,250,737,416 |
|
|
73.7 |
% |
Total IBG LLC membership interests |
1,701,408,529 |
|
100.0 |
% |
|
1,696,350,241 |
|
|
100.0 |
% |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||||||
OPERATING DATA |
||||||||||||
EXECUTED ORDER VOLUMES: |
|
|
|
|
|
|
|
|
||||
(in 000's, except %) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer |
|
% |
|
Principal |
|
% |
|
Total |
|
% |
Period |
|
Orders |
|
Change |
|
Orders |
|
Change |
|
Orders |
|
Change |
2023 |
|
483,015 |
|
|
|
29,712 |
|
|
|
512,727 |
|
|
2024 |
|
661,666 |
|
37% |
|
63,348 |
|
113% |
|
725,014 |
|
41% |
2025 |
|
915,616 |
|
38% |
|
121,972 |
|
93% |
|
1,037,588 |
|
43% |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2025 |
|
220,215 |
|
|
|
28,372 |
|
|
|
248,587 |
|
|
2Q2026 |
|
299,110 |
|
36% |
|
45,070 |
|
59% |
|
344,180 |
|
38% |
|
|
|
|
|
|
|
|
|
|
|
|
|
1Q2026 |
|
266,419 |
|
|
|
42,010 |
|
|
|
308,429 |
|
|
2Q2026 |
|
299,110 |
|
12% |
|
45,070 |
|
7% |
|
344,180 |
|
12% |
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTRACT AND SHARE VOLUMES: |
|
|
|
|
|
|
|
|
||||
(in 000's, except %) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
% |
|
Futures1 |
|
% |
|
Stocks |
|
% |
Period |
|
(contracts) |
|
Change |
|
(contracts) |
|
Change |
|
(shares) |
|
Change |
2023 |
|
1,020,736 |
|
|
|
209,034 |
|
|
|
252,742,847 |
|
|
2024 |
|
1,344,855 |
|
32% |
|
218,327 |
|
4% |
|
307,489,711 |
|
22% |
2025 |
|
1,668,228 |
|
24% |
|
241,631 |
|
11% |
|
421,707,895 |
|
37% |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2025 |
|
393,051 |
|
|
|
64,271 |
|
|
|
96,450,620 |
|
|
2Q2026 |
|
459,831 |
|
17% |
|
65,909 |
|
3% |
|
109,464,979 |
|
13% |
|
|
|
|
|
|
|
|
|
|
|
|
|
1Q2026 |
|
440,997 |
|
|
|
74,257 |
|
|
|
116,935,449 |
|
|
2Q2026 |
|
459,831 |
|
4% |
|
65,909 |
|
(11%) |
|
109,464,979 |
|
(6%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
CUSTOMER |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
% |
|
Futures1 |
|
% |
|
Stocks |
|
% |
Period |
|
(contracts) |
|
Change |
|
(contracts) |
|
Change |
|
(shares) |
|
Change |
2023 |
|
981,172 |
|
|
|
206,073 |
|
|
|
248,588,960 |
|
|
2024 |
|
1,290,770 |
|
32% |
|
214,864 |
|
4% |
|
302,040,873 |
|
22% |
2025 |
|
1,623,384 |
|
26% |
|
240,120 |
|
12% |
|
417,457,770 |
|
38% |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2025 |
|
382,195 |
|
|
|
63,918 |
|
|
|
95,276,485 |
|
|
2Q2026 |
|
446,906 |
|
17% |
|
65,337 |
|
2% |
|
108,174,094 |
|
14% |
|
|
|
|
|
|
|
|
|
|
|
|
|
1Q2026 |
|
428,653 |
|
|
|
73,705 |
|
|
|
115,790,614 |
|
|
2Q2026 |
|
446,906 |
|
4% |
|
65,337 |
|
(11%) |
|
108,174,094 |
|
(7%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PRINCIPAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
% |
|
Futures1 |
|
% |
|
Stocks |
|
% |
Period |
|
(contracts) |
|
Change |
|
(contracts) |
|
Change |
|
(shares) |
|
Change |
2023 |
|
39,564 |
|
|
|
2,961 |
|
|
|
4,153,887 |
|
|
2024 |
|
54,085 |
|
37% |
|
3,463 |
|
17% |
|
5,448,838 |
|
31% |
2025 |
|
44,844 |
|
(17%) |
|
1,511 |
|
(56%) |
|
4,250,125 |
|
(22%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2025 |
|
10,856 |
|
|
|
353 |
|
|
|
1,174,135 |
|
|
2Q2026 |
|
12,925 |
|
19% |
|
572 |
|
62% |
|
1,290,885 |
|
10% |
|
|
|
|
|
|
|
|
|
|
|
|
|
1Q2026 |
|
12,344 |
|
|
|
552 |
|
|
|
1,144,835 |
|
|
2Q2026 |
|
12,925 |
|
5% |
|
572 |
|
4% |
|
1,290,885 |
|
13% |
| ________________________ |
1 Includes options on futures. |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||
OPERATING DATA, CONTINUED |
||||||||
Year over Year |
|
|
2Q2026 |
|
|
2Q2025 |
|
% Change |
Total Accounts (in thousands) |
|
|
5,185 |
|
|
3,866 |
|
34% |
Customer Equity (in billions)1 |
|
$ |
930.3 |
|
$ |
664.6 |
|
40% |
|
|
|
|
|
|
|
|
|
Total Customer DARTs (in thousands) |
|
|
4,824 |
|
|
3,552 |
|
36% |
|
|
|
|
|
|
|
|
|
Cleared Customers |
|
|
|
|
|
|
|
|
Commission per Cleared Commissionable Order2 |
|
$ |
2.64 |
|
$ |
2.65 |
|
(0%) |
Cleared Avg. DARTs per Account (Annualized) |
|
|
207 |
|
|
206 |
|
0% |
|
|
|
|
|
|
|
|
|
Consecutive Quarters |
|
|
2Q2026 |
|
|
1Q2026 |
|
% Change |
Total Accounts (in thousands) |
|
|
5,185 |
|
|
4,754 |
|
9% |
Customer Equity (in billions)1 |
|
$ |
930.3 |
|
$ |
789.4 |
|
18% |
|
|
|
|
|
|
|
|
|
Total Customer DARTs (in thousands) |
|
|
4,824 |
|
|
4,368 |
|
10% |
|
|
|
|
|
|
|
|
|
Cleared Customers |
|
|
|
|
|
|
|
|
Commission per Cleared Commissionable Order2 |
|
$ |
2.64 |
|
$ |
2.69 |
|
(2%) |
Cleared Avg. DARTs per Account (Annualized) |
|
|
207 |
|
|
205 |
|
1% |
| ________________________ |
1 Excludes non-Customers. |
2 Commissionable Order - a customer order that generates commissions. |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||||||||||
NET INTEREST MARGIN |
||||||||||||||||
(UNAUDITED) |
||||||||||||||||
|
|
Three Months |
|
Six Months |
||||||||||||
|
|
Ended June 30, |
|
Ended June 30, |
||||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
(in millions) |
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Average interest-earning assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segregated cash and securities |
|
$ |
97,647 |
|
|
$ |
78,693 |
|
|
$ |
90,953 |
|
|
$ |
72,869 |
|
Customer margin loans |
|
|
96,596 |
|
|
|
60,928 |
|
|
|
92,932 |
|
|
|
62,646 |
|
Securities borrowed |
|
|
8,947 |
|
|
|
7,027 |
|
|
|
8,945 |
|
|
|
5,949 |
|
Other interest-earning assets |
|
|
18,991 |
|
|
|
14,747 |
|
|
|
18,011 |
|
|
|
13,601 |
|
FDIC sweeps1 |
|
|
6,434 |
|
|
|
5,226 |
|
|
|
6,366 |
|
|
|
5,006 |
|
|
|
$ |
228,615 |
|
|
$ |
166,621 |
|
|
$ |
217,207 |
|
|
$ |
160,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Average interest-bearing liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Customer credit balances |
|
$ |
171,674 |
|
|
$ |
129,998 |
|
|
$ |
164,615 |
|
|
$ |
124,010 |
|
Securities loaned |
|
|
33,222 |
|
|
|
17,181 |
|
|
|
29,419 |
|
|
|
16,659 |
|
Other interest-bearing liabilities |
|
|
512 |
|
|
|
50 |
|
|
|
354 |
|
|
|
58 |
|
|
|
$ |
205,408 |
|
|
$ |
147,229 |
|
|
$ |
194,388 |
|
|
$ |
140,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest income |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segregated cash and securities, net2 |
|
$ |
809 |
|
|
$ |
756 |
|
|
$ |
1,492 |
|
|
$ |
1,419 |
|
Customer margin loans4 |
|
|
988 |
|
|
|
709 |
|
|
|
1,893 |
|
|
|
1,484 |
|
Securities borrowed and loaned, net3 |
|
|
44 |
|
|
|
60 |
|
|
|
77 |
|
|
|
70 |
|
Customer credit balances, net4 |
|
|
(956 |
) |
|
|
(857 |
) |
|
|
(1,820 |
) |
|
|
(1,674 |
) |
Other net interest income1/5 |
|
|
215 |
|
|
|
193 |
|
|
|
411 |
|
|
|
356 |
|
Net interest income5 |
|
$ |
1,100 |
|
|
$ |
861 |
|
|
$ |
2,053 |
|
|
$ |
1,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest margin ("NIM") |
|
|
1.93 |
% |
|
|
2.07 |
% |
|
|
1.91 |
% |
|
|
2.09 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Annualized yields |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segregated cash and securities |
|
|
3.32 |
% |
|
|
3.86 |
% |
|
|
3.31 |
% |
|
|
3.93 |
% |
Customer margin loans |
|
|
4.10 |
% |
|
|
4.67 |
% |
|
|
4.11 |
% |
|
|
4.78 |
% |
Customer credit balances |
|
|
2.23 |
% |
|
|
2.64 |
% |
|
|
2.23 |
% |
|
|
2.72 |
% |
________________________ |
1 Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above. |
2 Net interest income on "Segregated cash and securities, net" for the three and six months ended June 30, 2025, excludes approximately $26 million of interest income, recorded in the consolidated statements of comprehensive income, related to taxes withheld at source in prior periods which was determined to be fully refundable. |
3 We estimate that if the interest earned and paid on cash collateral related to our securities lending transactions were included under "Securities borrowed and loaned, net" in the table above, the total net interest income related to our securities lending activities would have been $343 million and $612 million for the three and six months ended June 30, 2026, respectively, compared to $251 million and $437 million for the three and six months ended June 30, 2025, respectively. Such additional interest attributed to our securities lending activities would be reclassified from net interest income on "Segregated cash and securities, net" and "Customer credit balances, net" in the table above, so it would have no effect on our overall net interest income or net interest margin. |
4 Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer’s account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments). |
5 Includes income from financial instruments that has the same characteristics as interest but is reported in "Other fees and services" and "Other income" in the Company’s consolidated statements of comprehensive income. For the three and six months ended June 30, 2026 and 2025, $11 million, $22 million, $9 million, and $17 million were reported in "Other fees and services", respectively. For the three and six months ended June 30, 2026 and 2025, $32 million, $70 million, $18 million, and $34 million were reported in "Other income", respectively. |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES |
||||||||||||||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES |
||||||||||||||||
(UNAUDITED) |
||||||||||||||||
|
|
Three Months |
|
Six Months |
||||||||||||
|
|
Ended June 30, |
|
Ended June 30, |
||||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
|
|
|
||||||||||||||
Adjusted net revenues1 (in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net revenues - GAAP |
|
$ |
1,896 |
|
|
$ |
1,480 |
|
|
$ |
3,565 |
|
|
$ |
2,907 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
(21 |
) |
|
|
5 |
|
|
|
(47 |
) |
|
|
(15 |
) |
Mark-to-market on investments2 |
|
|
8 |
|
|
|
(5 |
) |
|
|
45 |
|
|
|
(16 |
) |
Total non-GAAP adjustments |
|
|
(13 |
) |
|
|
0 |
|
|
|
(2 |
) |
|
|
(31 |
) |
Adjusted net revenues |
|
$ |
1,883 |
|
|
$ |
1,480 |
|
|
$ |
3,563 |
|
|
$ |
2,876 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted income before income taxes1 (in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income before income taxes - GAAP |
|
$ |
1,456 |
|
|
$ |
1,104 |
|
|
$ |
2,744 |
|
|
$ |
2,159 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
(21 |
) |
|
|
5 |
|
|
|
(47 |
) |
|
|
(15 |
) |
Mark-to-market on investments2 |
|
|
8 |
|
|
|
(5 |
) |
|
|
45 |
|
|
|
(16 |
) |
Total non-GAAP adjustments |
|
|
(13 |
) |
|
|
- |
|
|
|
(2 |
) |
|
|
(31 |
) |
Adjusted income before income taxes |
|
$ |
1,443 |
|
|
$ |
1,104 |
|
|
$ |
2,742 |
|
|
$ |
2,128 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted pre-tax profit margin |
|
|
77 |
% |
|
|
75 |
% |
|
|
77 |
% |
|
|
74 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted net income available for common stockholders1 (in millions) |
|
|
|
|
|
|
||||||||||
Net income available for common stockholders - GAAP |
|
$ |
312 |
|
|
$ |
224 |
|
|
$ |
579 |
|
|
$ |
437 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
(6 |
) |
|
|
1 |
|
|
|
(12 |
) |
|
|
(4 |
) |
Mark-to-market on investments2 |
|
|
2 |
|
|
|
(1 |
) |
|
|
12 |
|
|
|
(4 |
) |
Income tax effect of above adjustments3 |
|
|
1 |
|
|
|
0 |
|
|
|
(0 |
) |
|
|
2 |
|
Total non-GAAP adjustments4 |
|
|
(3 |
) |
|
|
(0 |
) |
|
|
(1 |
) |
|
|
(6 |
) |
Adjusted net income available for common stockholders4 |
|
$ |
310 |
|
|
$ |
224 |
|
|
$ |
578 |
|
|
$ |
431 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted diluted EPS1 (in dollars, except share amounts) |
|
|
|
|
|
|
|
|
|
|||||||
Diluted EPS - GAAP |
|
$ |
0.69 |
|
|
$ |
0.51 |
|
|
$ |
1.29 |
|
|
$ |
0.99 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
(0.02 |
) |
|
|
0.00 |
|
|
|
(0.03 |
) |
|
|
(0.01 |
) |
Mark-to-market on investments2 |
|
|
0.00 |
|
|
|
(0.00 |
) |
|
|
0.03 |
|
|
|
(0.01 |
) |
Income tax effect of above adjustments3 |
|
|
0.00 |
|
|
|
0.00 |
|
|
|
(0.00 |
) |
|
|
0.01 |
|
Total non-GAAP adjustments4 |
|
|
(0.01 |
) |
|
|
(0.00 |
) |
|
|
(0.00 |
) |
|
|
(0.01 |
) |
Adjusted diluted EPS4 |
|
$ |
0.69 |
|
|
$ |
0.51 |
|
|
$ |
1.29 |
|
|
$ |
0.98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted weighted average common shares outstanding |
|
|
450,088,032 |
|
|
|
441,439,924 |
|
|
|
449,235,445 |
|
|
|
440,459,081 |
|
Note: The term "GAAP" in the following explanation refers to generally accepted accounting principles in the United States. |
1 Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share ("EPS") are non-GAAP financial measures. |
|
Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy and our mark-to-market on investments are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS. |
2 Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments. |
3 The income tax effect is estimated using the statutory income tax rates applicable to the Company. |
4 Amounts may not add due to rounding. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260721157186/en/
For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ibkr.com or Media: Rob Garfield, media@ibkr.com.