Interactive Brokers Group, Inc 8-K, filed Oct 15, 2026
Interactive Brokers Group, Inc. (IBKR)
About this 8-K
Interactive Brokers Group, Inc filed this 8-K on October 15, 2026.
Interactive Brokers Group reported diluted EPS of $0.69 and net revenues of $1.91 billion for the quarter ended September 30, 2026, and raised its quarterly dividend from $0.0875 to $0.15 per share. Customer accounts grew 35% to 5.58 million and total equity reached $23.3 billion. AI summary
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On October 15, 2026, Interactive Brokers Group, Inc. (the “Company”) issued a press release reporting its financial results for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference. All of the information furnished in this report (including Exhibit 99.1 hereto) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and unless expressly set forth by specific reference in such filings, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 |
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104 |
Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document). |
***
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INTERACTIVE BROKERS GROUP, INC. |
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Date: |
October 15, 2026 |
By: |
/s/ Paul J. Brody |
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Paul J. Brody |
Exhibit 99.1
INTERACTIVE BROKERS GROUP ANNOUNCES 3Q2026 RESULTS
— — —
GAAP DILUTED EPS OF $0.69, ADJUSTED1 EPS OF $0.67
GAAP NET REVENUES OF $1.91 BILLION, ADJUSTED NET REVENUES OF $1.87 BILLION
RAISES QUARTERLY DIVIDEND FROM $0.0875 TO $0.15
GREENWICH, CT, October 15, 2026 — Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global broker, announced results for the quarter ended September 30, 2026.
Reported diluted earnings per share were $0.69 for the current quarter and $0.67 as adjusted. For the year-ago quarter, reported diluted earnings per share were $0.59 and $0.57 as adjusted.
Reported net revenues were $1.91 billion for the current quarter and $1.87 billion as adjusted. For the year-ago quarter, reported net revenues were $1.66 billion and $1.61 billion as adjusted.
Reported income before income taxes was $1.50 billion for the current quarter and $1.45 billion as adjusted. For the year-ago quarter, reported income before income taxes were $1.31 billion and $1.27 billion as adjusted.
Financial Highlights
(All comparisons are to the year-ago quarter.)
The Interactive Brokers Group, Inc. Board of Directors declared an increase in the quarterly cash dividend from $0.0875 per share to $0.15 per share. This dividend is payable on December 14, 2026, to shareholders of record as of December 1, 2026.
1 See the reconciliation of non-GAAP financial measures starting on page 11.
2 Daily average revenue trades (DARTs) are based on customer orders.
1
Business Highlights
(All comparisons are to the year-ago quarter.)
Other Items
Other income decreased 18% to $70 million. This decrease is comprised mainly of $50 million from our investing activities; partially offset by an increase of $36 million from our currency diversification strategy.
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 $4 million, as the U.S. dollar value of the GLOBAL decreased by approximately 0.08%. The effects of the currency diversification strategy are reported as components of (1) Other Income (gain of $40 million) and (2) Other Comprehensive Income (loss of $44 million).
Conference Call Information:
Interactive Brokers Group, Inc. will hold a conference call with investors today, October 15, 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/BIb1b909eee7384370b303f70792b710c8 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 175 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.
2
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.
For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ibkr.com or Media: Rob Garfield, media@ibkr.com.
3
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
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Three Months |
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Nine Months |
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Ended September 30, |
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Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in millions, except share and per share data) |
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Revenues: |
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Commissions |
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$ |
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602 |
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$ |
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537 |
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$ |
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1,888 |
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$ |
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1,567 |
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Other fees and services |
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88 |
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66 |
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261 |
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206 |
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Other income |
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70 |
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85 |
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215 |
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192 |
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Total non-interest income |
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760 |
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688 |
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2,364 |
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1,965 |
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Interest income |
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2,433 |
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2,101 |
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6,616 |
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5,710 |
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Interest expense |
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(1,279 |
) |
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(1,134 |
) |
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(3,501 |
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(3,113 |
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Total net interest income |
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1,154 |
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967 |
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3,115 |
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2,597 |
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Total net revenues |
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1,914 |
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1,655 |
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5,479 |
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4,562 |
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Non-interest expenses: |
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Execution, clearing and distribution fees |
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134 |
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92 |
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382 |
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329 |
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Employee compensation and benefits |
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167 |
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156 |
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516 |
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473 |
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Occupancy, depreciation and amortization |
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29 |
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24 |
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83 |
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72 |
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Communications |
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11 |
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11 |
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34 |
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32 |
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General and administrative |
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78 |
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62 |
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214 |
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185 |
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Customer bad debt |
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(1 |
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(2 |
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10 |
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- |
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Total non-interest expenses |
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418 |
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343 |
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1,239 |
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1,091 |
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Income before income taxes |
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1,496 |
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1,312 |
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4,240 |
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3,471 |
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Income tax expense |
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148 |
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126 |
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383 |
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315 |
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Net income |
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1,348 |
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1,186 |
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3,857 |
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3,156 |
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Net income attributable to noncontrolling interests |
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1,034 |
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923 |
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2,964 |
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2,456 |
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Net income available for common stockholders |
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$ |
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314 |
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$ |
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263 |
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$ |
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893 |
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$ |
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700 |
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Earnings per share: |
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Basic |
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$ |
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0.69 |
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$ |
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0.59 |
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$ |
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1.99 |
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$ |
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1.59 |
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Diluted |
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$ |
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0.69 |
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$ |
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0.59 |
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$ |
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1.98 |
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$ |
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1.58 |
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Weighted average common shares outstanding: |
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Basic |
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452,266,631 |
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444,060,813 |
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448,564,570 |
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439,434,716 |
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Diluted |
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453,923,924 |
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446,528,983 |
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450,818,725 |
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442,507,940 |
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4
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
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Three Months |
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Nine Months |
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Ended September 30, |
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Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in millions, except share and per share data) |
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Comprehensive income: |
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Net income available for common stockholders |
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$ |
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314 |
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$ |
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263 |
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$ |
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893 |
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$ |
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700 |
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Other comprehensive income: |
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Cumulative translation adjustment, before income taxes |
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(12 |
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(10 |
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(48 |
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97 |
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Income taxes related to items of other comprehensive income |
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- |
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- |
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- |
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- |
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Other comprehensive income (loss), net of tax |
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(12 |
) |
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(10 |
) |
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(48 |
) |
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|
97 |
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Comprehensive income available for common stockholders |
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$ |
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302 |
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$ |
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253 |
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$ |
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845 |
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$ |
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797 |
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Comprehensive earnings per share: |
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Basic |
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$ |
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0.67 |
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$ |
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0.57 |
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$ |
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1.88 |
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$ |
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1.81 |
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Diluted |
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$ |
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0.67 |
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$ |
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0.57 |
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$ |
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1.87 |
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$ |
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1.80 |
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Weighted average common shares outstanding: |
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Basic |
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452,266,631 |
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444,060,813 |
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448,564,570 |
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439,434,716 |
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Diluted |
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453,923,924 |
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446,528,983 |
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450,818,725 |
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442,507,940 |
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Comprehensive income attributable to noncontrolling interests: |
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Net income attributable to noncontrolling interests |
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$ |
|
1,034 |
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|
$ |
|
923 |
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|
$ |
|
2,964 |
|
|
$ |
|
2,456 |
|
Other comprehensive income - cumulative translation adjustment |
|
|
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(32 |
) |
|
|
|
(28 |
) |
|
|
|
(132 |
) |
|
|
|
278 |
|
Comprehensive income attributable to noncontrolling interests |
|
$ |
|
1,002 |
|
|
$ |
|
895 |
|
|
$ |
|
2,832 |
|
|
$ |
|
2,734 |
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5
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(UNAUDITED)
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September 30, |
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December 31, |
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(in millions) |
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Assets |
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Cash and cash equivalents |
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$ |
5,935 |
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$ |
4,963 |
Cash - segregated for regulatory purposes |
|
|
|
|
58,695 |
|
|
50,332 |
Securities - segregated for regulatory purposes |
|
|
|
|
38,376 |
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|
26,521 |
Securities borrowed |
|
|
|
|
12,086 |
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|
11,589 |
Securities purchased under agreements to resell |
|
|
|
|
10,005 |
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|
7,117 |
Financial instruments owned, at fair value |
|
|
|
|
4,896 |
|
|
4,982 |
Receivables from customers, net of allowance for credit losses |
|
|
|
|
105,592 |
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|
90,475 |
Receivables from brokers, dealers and clearing organizations |
|
|
|
|
5,012 |
|
|
5,161 |
Other assets |
|
|
|
|
2,638 |
|
|
2,100 |
Total assets |
|
|
|
$ |
243,235 |
|
$ |
203,240 |
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|
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Liabilities and equity |
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Liabilities |
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Short-term borrowings |
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$ |
18 |
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$ |
19 |
Securities loaned |
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|
|
|
35,212 |
|
|
24,751 |
Financial instruments sold but not yet purchased, at fair value |
|
|
|
|
756 |
|
|
740 |
Other payables: |
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|
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|
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Customers |
|
|
|
|
180,451 |
|
|
154,336 |
Brokers, dealers and clearing organizations |
|
|
|
|
1,890 |
|
|
1,566 |
Other payables |
|
|
|
|
1,657 |
|
|
1,356 |
|
|
|
|
|
183,998 |
|
|
157,258 |
Total liabilities |
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|
|
|
219,984 |
|
|
182,768 |
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Equity |
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Stockholders' equity |
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|
|
6,215 |
|
|
5,363 |
Noncontrolling interests |
|
|
|
|
17,036 |
|
|
15,109 |
Total equity |
|
|
|
|
23,251 |
|
|
20,472 |
Total liabilities and equity |
|
|
|
$ |
243,235 |
|
$ |
203,240 |
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|
|
|
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|
September 30, 2026 |
|
December 31, 2025 |
|||||
Ownership of IBG LLC Membership Interests |
Interests |
|
% |
|
Interests |
|
|
% |
|
|
|
|
|
|
|
|
|
IBG, Inc. |
453,172,548 |
|
26.6% |
|
445,612,825 |
|
|
26.3% |
Noncontrolling interests (IBG Holdings LLC) |
1,248,237,849 |
|
73.4% |
|
1,250,737,416 |
|
|
73.7% |
Total IBG LLC membership interests |
1,701,410,397 |
|
100.0% |
|
1,696,350,241 |
|
|
100.0% |
6
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% |
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2025 |
|
229,635 |
|
|
|
30,659 |
|
|
|
260,294 |
|
|
3Q2026 |
|
273,486 |
|
19% |
|
37,616 |
|
23% |
|
311,102 |
|
20% |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2026 |
|
299,110 |
|
|
|
45,070 |
|
|
|
344,180 |
|
|
3Q2026 |
|
273,486 |
|
(9%) |
|
37,616 |
|
(17%) |
|
311,102 |
|
(10%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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% |
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2025 |
|
428,524 |
|
|
|
52,233 |
|
|
|
119,250,686 |
|
|
3Q2026 |
|
426,182 |
|
(1%) |
|
59,134 |
|
13% |
|
91,432,625 |
|
(23%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2026 |
|
459,831 |
|
|
|
65,909 |
|
|
|
109,464,979 |
|
|
3Q2026 |
|
426,182 |
|
(7%) |
|
59,134 |
|
(10%) |
|
91,432,625 |
|
(16%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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% |
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2025 |
|
418,389 |
|
|
|
51,936 |
|
|
|
118,307,826 |
|
|
3Q2026 |
|
415,215 |
|
(1%) |
|
58,677 |
|
13% |
|
90,219,440 |
|
(24%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2026 |
|
446,906 |
|
|
|
65,337 |
|
|
|
108,174,094 |
|
|
3Q2026 |
|
415,215 |
|
(7%) |
|
58,677 |
|
(10%) |
|
90,219,440 |
|
(17%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2025 |
|
10,135 |
|
|
|
297 |
|
|
|
942,860 |
|
|
3Q2026 |
|
10,967 |
|
8% |
|
457 |
|
54% |
|
1,213,185 |
|
29% |
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2026 |
|
12,925 |
|
|
|
572 |
|
|
|
1,290,885 |
|
|
3Q2026 |
|
10,967 |
|
(15%) |
|
457 |
|
(20%) |
|
1,213,185 |
|
(6%) |
________________________
1 Includes options on futures.
7
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
OPERATING DATA, CONTINUED
Year over Year |
|
|
3Q2026 |
|
|
3Q2025 |
|
% Change |
Total Accounts (in thousands) |
|
|
5,576 |
|
|
4,127 |
|
35% |
Customer Equity (in billions)1 |
|
$ |
965 |
|
$ |
758 |
|
27% |
|
|
|
|
|
|
|
|
|
Total Customer DARTs (in thousands) |
|
|
4,273 |
|
|
3,616 |
|
18% |
|
|
|
|
|
|
|
|
|
Cleared Customers |
|
|
|
|
|
|
|
|
Commission per Cleared Commissionable Order2 |
|
$ |
2.59 |
|
$ |
2.70 |
|
(4%) |
Cleared Avg. DARTs per Account (Annualized) |
|
|
168 |
|
|
195 |
|
(14%) |
|
|
|
|
|
|
|
|
|
Consecutive Quarters |
|
|
3Q2026 |
|
|
2Q2026 |
|
% Change |
Total Accounts (in thousands) |
|
|
5,576 |
|
|
5,185 |
|
8% |
Customer Equity (in billions)1 |
|
$ |
965 |
|
$ |
930 |
|
4% |
|
|
|
|
|
|
|
|
|
Total Customer DARTs (in thousands) |
|
|
4,273 |
|
|
4,824 |
|
(11%) |
|
|
|
|
|
|
|
|
|
Cleared Customers |
|
|
|
|
|
|
|
|
Commission per Cleared Commissionable Order2 |
|
$ |
2.59 |
|
$ |
2.64 |
|
(2%) |
Cleared Avg. DARTs per Account (Annualized) |
|
|
168 |
|
|
207 |
|
(19%) |
________________________
1 Excludes non-Customers.
2 Commissionable Order - a customer order that generates commissions.
8
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
NET INTEREST MARGIN
(UNAUDITED)
|
|
Three Months |
|
|
Nine Months |
|
||||||||||||||
|
|
Ended September 30, |
|
|
Ended September 30, |
|
||||||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
(in millions) |
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Average interest-earning assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segregated cash and securities |
|
$ |
|
95,092 |
|
|
$ |
|
81,906 |
|
|
$ |
|
92,344 |
|
|
$ |
|
75,934 |
|
Customer margin loans |
|
|
|
104,032 |
|
|
|
|
70,805 |
|
|
|
|
96,654 |
|
|
|
|
65,380 |
|
Securities borrowed |
|
|
|
12,290 |
|
|
|
|
9,037 |
|
|
|
|
10,075 |
|
|
|
|
6,995 |
|
Other interest-earning assets |
|
|
|
19,468 |
|
|
|
|
16,037 |
|
|
|
|
18,503 |
|
|
|
|
14,784 |
|
FDIC sweeps1 |
|
|
|
6,364 |
|
|
|
|
5,962 |
|
|
|
|
6,366 |
|
|
|
|
5,329 |
|
|
|
$ |
|
237,246 |
|
|
$ |
|
183,747 |
|
|
$ |
|
223,942 |
|
|
$ |
|
168,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Average interest-bearing liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Customer credit balances |
|
$ |
|
176,566 |
|
|
$ |
|
141,763 |
|
|
$ |
|
168,637 |
|
|
$ |
|
130,262 |
|
Securities loaned |
|
|
|
36,203 |
|
|
|
|
20,691 |
|
|
|
|
31,710 |
|
|
|
|
18,007 |
|
Other interest-bearing liabilities |
|
|
|
376 |
|
|
|
|
361 |
|
|
|
|
361 |
|
|
|
|
160 |
|
|
|
$ |
|
213,145 |
|
|
$ |
|
162,815 |
|
|
$ |
|
200,708 |
|
|
$ |
|
148,429 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segregated cash and securities, net2 |
|
$ |
|
815 |
|
|
$ |
|
786 |
|
|
$ |
|
2,307 |
|
|
$ |
|
2,205 |
|
Customer margin loans4 |
|
|
|
1,114 |
|
|
|
|
821 |
|
|
|
|
3,007 |
|
|
|
|
2,305 |
|
Securities borrowed and loaned, net3 |
|
|
|
65 |
|
|
|
|
133 |
|
|
|
|
142 |
|
|
|
|
204 |
|
Customer credit balances, net4 |
|
|
|
(1,028 |
) |
|
|
|
(945 |
) |
|
|
|
(2,848 |
) |
|
|
|
(2,619 |
) |
Other net interest income1/5 |
|
|
|
225 |
|
|
|
|
204 |
|
|
|
|
636 |
|
|
|
|
559 |
|
Net interest income5 |
|
$ |
|
1,191 |
|
|
$ |
|
999 |
|
|
$ |
|
3,244 |
|
|
$ |
|
2,654 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest margin ("NIM") |
|
|
|
1.99 |
% |
|
|
|
2.16 |
% |
|
|
|
1.94 |
% |
|
|
|
2.11 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Annualized yields |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segregated cash and securities |
|
|
|
3.40 |
% |
|
|
|
3.81 |
% |
|
|
|
3.34 |
% |
|
|
|
3.88 |
% |
Customer margin loans |
|
|
|
4.25 |
% |
|
|
|
4.60 |
% |
|
|
|
4.16 |
% |
|
|
|
4.71 |
% |
Customer credit balances |
|
|
|
2.31 |
% |
|
|
|
2.64 |
% |
|
|
|
2.26 |
% |
|
|
|
2.69 |
% |
________________________
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 nine months ended September 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 $427 million and $1,039 million for the three and nine months ended September 30, 2026, respectively, compared to $314 million and $751 million for the three and nine months ended September 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).
9
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 nine months ended September 30, 2026 and 2025, $11 million, $33 million, $10 million, and $27 million were reported in "Other fees and services", respectively. For the three and nine months ended September 30, 2026 and 2025, $26 million, $96 million, $22 million, and $56 million were reported in "Other income", respectively.
10
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(UNAUDITED)
|
|
Three Months |
|
|
Nine Months |
|
||||||||||||||
|
|
Ended September 30, |
|
|
Ended September 30, |
|
||||||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||||||
|
|
|
|
|||||||||||||||||
Adjusted net revenues1 (in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net revenues - GAAP |
|
$ |
|
1,914 |
|
|
$ |
|
1,655 |
|
|
$ |
|
5,479 |
|
|
$ |
|
4,562 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
|
(40 |
) |
|
|
|
(4 |
) |
|
|
|
(87 |
) |
|
|
|
(19 |
) |
Mark-to-market on investments2 |
|
|
|
(3 |
) |
|
|
|
(41 |
) |
|
|
|
42 |
|
|
|
|
(57 |
) |
Total non-GAAP adjustments4 |
|
|
|
(42 |
) |
|
|
|
(45 |
) |
|
|
|
(44 |
) |
|
|
|
(76 |
) |
Adjusted net revenues4 |
|
$ |
|
1,872 |
|
|
$ |
|
1,610 |
|
|
$ |
|
5,435 |
|
|
$ |
|
4,486 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted income before income taxes1 (in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income before income taxes - GAAP |
|
$ |
|
1,496 |
|
|
$ |
|
1,312 |
|
|
$ |
|
4,240 |
|
|
$ |
|
3,471 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
|
(40 |
) |
|
|
|
(4 |
) |
|
|
|
(87 |
) |
|
|
|
(19 |
) |
Mark-to-market on investments2 |
|
|
|
(3 |
) |
|
|
|
(41 |
) |
|
|
|
42 |
|
|
|
|
(57 |
) |
Total non-GAAP adjustments4 |
|
|
|
(42 |
) |
|
|
|
(45 |
) |
|
|
|
(44 |
) |
|
|
|
(76 |
) |
Adjusted income before income taxes4 |
|
$ |
|
1,454 |
|
|
$ |
|
1,267 |
|
|
$ |
|
4,196 |
|
|
$ |
|
3,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted pre-tax profit margin |
|
|
|
78 |
% |
|
|
|
79 |
% |
|
|
|
77 |
% |
|
|
|
76 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted net income available for common stockholders1 (in millions) |
|
|
|
|
|
|
|
|
|
|||||||||||
Net income available for common stockholders - GAAP |
|
$ |
|
314 |
|
|
$ |
|
263 |
|
|
$ |
|
893 |
|
|
$ |
|
700 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
|
(11 |
) |
|
|
|
(1 |
) |
|
|
|
(23 |
) |
|
|
|
(5 |
) |
Mark-to-market on investments2 |
|
|
|
(1 |
) |
|
|
|
(11 |
) |
|
|
|
11 |
|
|
|
|
(15 |
) |
Income tax effect of above adjustments3 |
|
|
|
2 |
|
|
|
|
3 |
|
|
|
|
2 |
|
|
|
|
5 |
|
Total non-GAAP adjustments4 |
|
|
|
(9 |
) |
|
|
|
(9 |
) |
|
|
|
(10 |
) |
|
|
|
(15 |
) |
Adjusted net income available for common stockholders4 |
|
$ |
|
305 |
|
|
$ |
|
253 |
|
|
$ |
|
883 |
|
|
$ |
|
684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted diluted EPS1 (in dollars, except share amounts) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Diluted EPS - GAAP |
|
$ |
|
0.69 |
|
|
$ |
|
0.59 |
|
|
$ |
|
1.98 |
|
|
$ |
|
1.58 |
|
Non-GAAP adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency diversification strategy, net |
|
|
|
(0.02 |
) |
|
|
|
(0.00 |
) |
|
|
|
(0.05 |
) |
|
|
|
(0.01 |
) |
Mark-to-market on investments2 |
|
|
|
(0.00 |
) |
|
|
|
(0.02 |
) |
|
|
|
0.03 |
|
|
|
|
(0.03 |
) |
Income tax effect of above adjustments3 |
|
|
|
0.01 |
|
|
|
|
0.01 |
|
|
|
|
0.00 |
|
|
|
|
0.02 |
|
Total non-GAAP adjustments4 |
|
|
|
(0.02 |
) |
|
|
|
(0.02 |
) |
|
|
|
(0.02 |
) |
|
|
|
(0.03 |
) |
Adjusted diluted EPS4 |
|
$ |
|
0.67 |
|
|
$ |
|
0.57 |
|
|
$ |
|
1.96 |
|
|
$ |
|
1.55 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted weighted average common shares outstanding |
|
|
|
453,923,924 |
|
|
|
|
446,528,983 |
|
|
|
|
450,818,725 |
|
|
|
|
442,507,940 |
|
11
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.
12