Latest Ratios: P/E Ratio 42.6x · EV/EBITDA 4.2x · ROE 5.3%. (2005–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $41.9B | $28.8B | $19.3B | $8.8B | $7.3B | $7.5B | $4.9B | $3.6B | $4.1B | $4.2B | $2.5B |
| Enterprise Value | $37.0B | $23.9B | $31.9B | $16.4B | $12.9B | $16.9B | $10.6B | $4.5B | $5.5B | $5.1B | $4.9B |
| P/E Ratio → | 42.60 | 28.97 | 25.53 | 14.62 | 19.30 | 24.52 | 25.17 | 22.21 | 23.96 | 55.33 | 29.22 |
| P/S Ratio | 4.10 | 2.81 | 2.07 | 1.13 | 1.75 | 2.57 | 2.03 | 1.39 | 1.75 | 2.64 | 1.78 |
| P/B Ratio | 2.07 | 1.41 | 1.16 | 0.62 | 0.63 | 0.74 | 0.55 | 0.45 | 0.57 | 0.65 | 0.42 |
| P/FCF | 2.66 | 1.83 | 2.22 | 1.95 | 1.88 | 1.30 | 0.61 | 1.38 | 1.75 | 4.05 | 4.04 |
| P/OCF | 2.65 | 1.82 | 2.21 | 1.93 | 1.85 | 1.28 | 0.61 | 1.34 | 1.72 | 3.95 | 3.87 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.33 | 3.42 | 2.10 | 3.07 | 5.76 | 4.37 | 1.76 | 2.38 | 3.21 | 3.55 |
| EV / EBITDA | 4.16 | 2.68 | 4.02 | 2.47 | 4.00 | 8.09 | 6.87 | 2.31 | 3.19 | 4.22 | 5.43 |
| EV / EBIT | 4.20 | 2.65 | 4.04 | 2.52 | 4.26 | 8.43 | 6.97 | 2.52 | 3.32 | 4.02 | 5.83 |
| EV / FCF | — | 1.52 | 3.68 | 3.65 | 3.30 | 2.91 | 1.32 | 1.75 | 2.38 | 4.94 | 8.06 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 89.8% | 89.8% | 89.0% | 88.3% | 81.4% | 78.4% | 74.5% | 79.1% | 77.0% | 69.3% | 64.8% |
| Operating Margin | 86.0% | 86.0% | 84.2% | 83.8% | 74.6% | 68.6% | 60.8% | 74.0% | 72.6% | 73.0% | 61.6% |
| Net Profit Margin | 9.6% | 9.6% | 8.1% | 7.7% | 9.1% | 10.5% | 8.1% | 6.3% | 7.3% | 4.8% | 6.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | 5.3% | 4.9% | 4.7% | 3.5% | 3.2% | 2.3% | 2.1% | 2.5% | 1.2% | 1.5% |
| ROA | 0.6% | 0.6% | 0.5% | 0.5% | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.1% | 0.2% |
| ROIC | 24.7% | 24.7% | 20.2% | 21.3% | 11.0% | 7.4% | 7.2% | 12.4% | 12.4% | 9.1% | 6.0% |
| ROCE | 22.2% | 22.2% | 26.7% | 28.2% | 14.6% | 9.7% | 9.2% | 15.2% | 14.1% | 9.6% | 8.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.98 | 0.81 | 0.77 | 1.15 | 1.11 | 0.48 | 0.57 | 0.41 | 0.75 |
| Debt / EBITDA | 0.00 | 0.00 | 2.05 | 1.72 | 2.79 | 5.63 | 6.46 | 1.95 | 2.34 | 2.18 | 4.84 |
| Net Debt / Equity | — | -0.24 | 0.76 | 0.54 | 0.48 | 0.92 | 0.63 | 0.12 | 0.20 | 0.14 | 0.42 |
| Net Debt / EBITDA | -0.56 | -0.56 | 1.59 | 1.15 | 1.72 | 4.49 | 3.68 | 0.48 | 0.84 | 0.75 | 2.71 |
| Debt / FCF | — | -0.31 | 1.46 | 1.69 | 1.42 | 1.62 | 0.71 | 0.37 | 0.63 | 0.88 | 4.02 |
| Interest Coverage | 2.13 | 2.13 | 1.88 | 1.89 | 2.96 | 8.98 | 5.81 | 2.80 | 3.58 | 5.66 | 10.63 |
Net cash position: cash ($5.0B) exceeds total debt ($19M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.13 | 1.13 | 1.16 | 1.12 | 1.09 | 1.14 | 0.59 | 0.60 | 0.63 | 0.66 | 0.53 |
| Quick Ratio | 1.13 | 1.13 | 1.16 | 1.12 | 1.09 | 1.14 | 0.59 | 0.60 | 0.63 | 0.66 | 0.53 |
| Cash Ratio | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.03 | 0.06 | 0.05 | 0.05 | 0.04 | 0.05 |
| Asset Turnover | — | 0.05 | 0.06 | 0.06 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.03 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.5% | 0.5% | 0.5% | 0.5% | 0.5% | 0.7% | 0.9% | 0.7% | 0.7% | 1.1% |
| Payout Ratio | 13.6% | 13.6% | 12.2% | 7.0% | 10.5% | 12.3% | 16.4% | 19.3% | 17.2% | 36.8% | 31.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.3% | 3.5% | 3.9% | 6.8% | 5.2% | 4.1% | 4.0% | 4.5% | 4.2% | 1.8% | 3.4% |
| FCF Yield | 37.5% | 54.7% | 45.0% | 51.2% | 53.2% | 77.1% | 163.2% | 72.3% | 57.2% | 24.7% | 24.7% |
| Buyback Yield | 0.2% | 0.3% | 0.3% | 0.4% | 0.3% | 0.4% | 0.3% | 0.8% | 1.1% | 0.5% | 1.1% |
| Total Shareholder Yield | 0.5% | 0.8% | 0.8% | 0.9% | 0.8% | 0.9% | 1.0% | 1.6% | 1.8% | 1.2% | 2.1% |
| Shares Outstanding | — | $448M | $436M | $423M | $405M | $380M | $323M | $307M | $297M | $284M | $269M |
Interest rate policy sensitivity
According to current market data, IBKR trades at a forward P/E of 35.75, which suggests investors are pricing the firm as a high-growth technology utility rather than a traditional financial services entity, despite the inherent cyclicality of its commission-based and interest-sensitive revenue streams.
The current valuation multiple appears elevated relative to traditional brokerage peers like Charles Schwab, implying that the market assigns a significant premium to IBKR's automated, low-cost operating model. Investors should monitor whether this valuation remains sustainable if the firm's net interest income growth decelerates in a lower-rate environment.
Based on reported financial figures, IBKR's ROIC has fluctuated between 4.2% and 8.8% over the last ten quarters, a trend that reflects the firm's ability to maintain high returns on invested capital without the heavy physical infrastructure requirements typical of legacy banking institutions.
The variability in ROIC appears linked to the firm's tactical management of regulatory capital and cash balances rather than operational inefficiency. This suggests that the company's true compounding power is best viewed through its ability to scale assets under custody with minimal incremental capital expenditure.
As reported in financial statements, the firm's asset turnover remains consistently low at approximately 0.01 to 0.02, which is a structural characteristic of its balance-sheet-heavy brokerage model rather than an indicator of poor operational efficiency or sluggish asset utilization.
The low asset turnover is a byproduct of the massive cash and segregated asset balances required to support global clearing operations. Analysts should focus on the firm's ability to maintain high operating margins despite this asset intensity, which confirms the scalability of its proprietary software stack.
Based on the provided quarterly data, IBKR maintains a debt-to-equity ratio of 0.00 in recent periods, highlighting a fortress balance sheet that provides significant insulation against the credit risks and interest rate volatility that frequently constrain the growth of more leveraged financial services competitors.
The absence of long-term debt suggests a conservative capital allocation strategy that prioritizes liquidity and regulatory compliance over financial engineering. This positioning appears to offer a distinct competitive advantage, allowing the firm to remain agile during periods of market stress when peers may face liquidity constraints.
The most commonly misapplied metric for IBKR is the traditional P/B ratio, which obscures the firm's true earning power by failing to account for the unique organizational structure where the public entity holds only a minority interest in the underlying operating partnership.
Investors should instead focus on pre-tax margins and return on equity adjusted for non-controlling interests to avoid underestimating the firm's profitability. Relying on standard banking valuation multiples may lead to a distorted view of the company's intrinsic value and its competitive positioning within the global brokerage industry.
Includes 30+ ratios · 21 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IBKR stock.
Interactive Brokers Group, Inc.'s current P/E ratio is 42.6x. The historical average is 26.6x. This places it at the 89th percentile of its historical range.
Interactive Brokers Group, Inc.'s current EV/EBITDA is 4.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.8x.
Interactive Brokers Group, Inc.'s return on equity (ROE) is 5.3%. The historical average is 9.4%.
Based on historical data, Interactive Brokers Group, Inc. is trading at a P/E of 42.6x. This is at the 89th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Interactive Brokers Group, Inc.'s current dividend yield is 0.32% with a payout ratio of 13.6%.
Interactive Brokers Group, Inc. has 89.8% gross margin and 86.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Interactive Brokers Group, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.