Interactive Brokers Group (IBKR) Q4 2025 earnings summary

Executive summary

• Achieved record financial results in Q4 2025, with over 1 million net new accounts and client equity rising 37% to $779.9 billion year-over-year.

• Client accounts grew 32% to 4.4 million, and net revenues increased 20% year-over-year.

• Maintained a high pretax margin of 77%–79% and equity capital of $20.5 billion, up 23% year-over-year.

• Clients outperformed the S&P 500, with individual investors, advisors, and hedge funds all exceeding benchmark returns.

• Continued focus on automation, technology innovation, and global market access, supporting operational efficiency and client engagement.

Financial highlights

• Adjusted net revenues reached $6.2 billion in 2025, a 20% increase year-over-year.

• Quarterly adjusted pre-tax income exceeded $1 billion for the fifth consecutive quarter; full-year adjusted pretax income was $4.8 billion, up 29%.

• Commission revenues reached a record $582 million in Q4 and $2.1 billion for the year, up 27% year-over-year.

• Net interest income was $966 million for the quarter and $3.6 billion for the year, supported by higher customer margin loans and credit balances.

• Total assets grew 35% year-over-year to $203.2 billion; firm equity exceeded $20.5 billion.

Outlook and guidance

• Expectation to be operational with a National Trust Charter Bank by year-end, enabling custody of mutual and exchange-traded funds.

• Ongoing investment in proprietary technology, automation, and AI initiatives to drive further growth and operational efficiency.

• Continued expansion into new markets and product offerings, including recent launches in Brazil and the UAE, with new geographies and features planned for 2026.

• Anticipate similar expense and headcount growth rates as prior years, with potential increases from AI investments.

• Forward-looking statements caution that actual results may differ due to risks and uncertainties in the business environment.