Interactive Brokers Group, Inc. · IBKR · FY2025 Q2 · Calendar Q3 2025
Interactive Brokers: strong momentum, but rate and market risks remain
The supplied analysis supports a constructive view of Interactive Brokers' operating momentum, led by client growth, product expansion and automation. That view is conditional: the current analysis provides no guidance sentiment, while rates, trading activity, regulation and competition remain material uncertainties.
Earnings scorecard
Reported versus consensusMarket reaction
event-close to next-session closeAsk FN2 about IBKR FY2025 Q2
Transcript, numbers and history already loadedFree account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis adds emphasis on expanded overnight trading, new thematic and crypto capabilities, automation and AI, and continued shareholder returns. Relative to the prior-quarter analysis, the main continuity is platform expansion and strong demand; the main watchpoints remain rate sensitivity, competition and regulatory change.
Guidance delta
No current guidance was provided in the supplied analysis; the prior quarter was characterized as maintained.
Key takeaways
- The supplied analysis points to record financial performance and continued client acquisition.
- Overnight trading, Forecast X, thematic tools and crypto services broaden the product platform.
- Management emphasized automation, AI enhancements, shareholder returns and disciplined acquisition expectations.
Management priorities
- Scale the client platform and broaden international and overnight trading access.
- Expand Forecast X, investment themes and crypto capabilities.
- Improve automation and AI-enabled operations while returning capital to shareholders.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 10, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Oct 7, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 7, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 6, 2026 |
| B of A Securities | Buy | Buy | Maintain | Oct 5, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Sep 2, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 15, 2026 |
| Jefferies | Buy | Buy | Maintain | Apr 6, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 7, 2025 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jan 13, 2025 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 21, 2021 |
| Compass Point | Buy | Neutral | Upgrade | Dec 2, 2020 |
| Wells Fargo | Underweight | Underweight | Maintain | Jul 10, 2020 |
| Rosenblatt | Neutral | Neutral | Maintain | Jul 13, 2017 |
| Keefe Bruyette & Woods | Market Perform | Outperform | Downgrade | Apr 19, 2017 |
| Buckingham Research | Neutral | Neutral | Maintain | May 12, 2016 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Mar 23, 2016 |
| BGB Securities | Hold | Hold | Maintain | Dec 13, 2012 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Jul 10, 2012 |
| Stifel | Hold | Buy | Downgrade | Jul 10, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $87.87. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Benjamin Budish | $115 | $90.58 | +30.9% | Oct 7, 2026 |
| UBS | Michael Brown | $101 | $90.58 | +14.9% | Oct 7, 2026 |
| Capital One Financial | Analyst unavailable | $105 | $90.55 | +19.5% | Oct 6, 2026 |
| Goldman Sachs | James Yaro | $111 | $85.81 | +26.3% | Oct 1, 2026 |
| Wells Fargo | Analyst unavailable | $102 | $85.81 | +16.1% | Oct 1, 2026 |
| Goldman Sachs | Analyst unavailable | $113 | $90.39 | +28.6% | Sep 1, 2026 |
| UBS | Analyst unavailable | $102 | $97.29 | +16.1% | Sep 1, 2026 |
| BMO Capital | Analyst unavailable | $110 | $92.84 | +25.2% | Jul 22, 2026 |
| Piper Sandler | Analyst unavailable | $109 | $94.42 | +24.0% | Jul 22, 2026 |
| Barclays | Analyst unavailable | $114 | $94.42 | +29.7% | Jul 22, 2026 |
| Piper Sandler | Analyst unavailable | $105 | $95.61 | +19.5% | Jul 15, 2026 |
| Barclays | Benjamin Budish | $108 | $95.48 | +22.9% | Jul 9, 2026 |
| Goldman Sachs | Analyst unavailable | $98 | $79.5 | +11.5% | May 1, 2026 |
| BMO Capital | Analyst unavailable | $82 | $74.93 | -6.7% | Jan 21, 2026 |
| Barclays | Analyst unavailable | $83 | $71.51 | -5.5% | Jan 21, 2026 |
| Barclays | Analyst unavailable | $82 | $71.34 | -6.7% | Jan 8, 2026 |
| BMO Capital | Analyst unavailable | $84 | $68.52 | -4.4% | Oct 17, 2025 |
| Goldman Sachs | Analyst unavailable | $91 | $68.52 | +3.6% | Oct 17, 2025 |
| Barclays | Analyst unavailable | $80 | $68.52 | -9.0% | Oct 17, 2025 |
| Piper Sandler | Analyst unavailable | $80 | $70.52 | -9.0% | Oct 14, 2025 |
| Barclays | Analyst unavailable | $81 | $69.35 | -7.8% | Oct 8, 2025 |
| Barclays | Benjamin Budish | $193 | $157.9 | +119.6% | Apr 16, 2025 |
| Piper Sandler | Patrick Moley | $200 | $191.17 | +127.6% | Jan 7, 2025 |
| Piper Sandler | Patrick Moley | $163 | $148.57 | +85.5% | Oct 8, 2024 |
| Barclays | Benjamin Budish | $166 | $147.85 | +88.9% | Oct 7, 2024 |
| Barclays | Benjamin Budish | $145 | $125.25 | +65.0% | Jul 10, 2024 |
| Jefferies | Daniel Fannon | $150 | $123.37 | +70.7% | Jul 8, 2024 |
| Jefferies | Daniel Fannon | $138 | $113.27 | +57.1% | Apr 17, 2024 |
| Barclays | Benjamin Budish | $136 | $109.31 | +54.8% | Apr 17, 2024 |
| Raymond James | James Yaro | $102 | $87.32 | +16.1% | Jan 9, 2024 |
| Goldman Sachs | James Yaro | $102 | $87.72 | +16.1% | Jan 9, 2024 |
| Barclays | Analyst unavailable | $90 | $69.49 | +2.4% | Dec 19, 2022 |
| Goldman Sachs | Analyst unavailable | $90 | $66.76 | +2.4% | Apr 20, 2022 |
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Start freeCompany context
Snapshot as of publicationInteractive Brokers Group, Inc. operates as a sophisticated electronic brokerage, serving clients across the United States and globally. This firm manages the trading, clearing, and settlement for a broad spectrum of financial instruments, including equities, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds (ETFs), precious metals, and digital currencies. Beyond its core brokerage activities, the company provides custodial and administrative account services tailored for various entities such as hedge funds, mutual funds, ETFs, registered investment advisors, proprietary trading desks, introducing brokers, and individual investors. Its suite of services also includes custody solutions, prime brokerage, and financing options like securities lending and margin lending. Interactive Brokers caters to both institutional and individual clientele, utilizing advanced electronic exchanges and market platforms. The company was established in 1977 and maintains its headquarters in Greenwich, Connecticut.
Historical context
All IBKR earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-10T11:40:41.594953+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-10T11:40:41.591129+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-10. For educational purposes only; not investment advice.