Interactive Brokers Group, Inc（IBKR）の決算・業績分析
Interactive Brokers Group, Incの2025年有価証券報告書をAI分析。売上高$2.4B(+23.4%)。Financials。
目次
Interactive Brokers Group, Incの2025年度 業績サマリー
Interactive Brokers Group, Inc（証券コード: IBKR）の2025年度決算・業績分析。売上高は$2.4B（前年比+23.4%）。純利益は$4.4B（前年比+27.9%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Interactive Brokers Group, Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Net income surged to $1.8B (+12.6% YoY) despite a 4.0% YoY revenue decline to $1.5B (XBRL).
- Operating margin reached 132.7% (XBRL), reflecting highly efficient cost structure.
- Cash reserves totaled $3.4B (XBRL), with $3.9B in free cash flow (FCF) generated in FY2024 (XBRL).
- Equity ratio of 2.8% (XBRL) and D/E ratio of 31.86x (XBRL) highlight aggressive leverage.
Interactive Brokers Group, Incの売上高変化の要因
- •Revenue declined 4.0% YoY to $1.5B (XBRL), though 5-year CAGR remains strong at +11.0% (XBRL). Net income grew 12.6% YoY to $1.8B (XBRL), with 5-year CAGR of +20.1% (XBRL). Historical data shows revenue increasing from $925M (FY2020) to $1.6B (FY2023), then slightly declining in FY2024 (XBRL). The company's high-margin model (132.7% operating margin) and focus on automation likely drove profitability despite revenue contraction.
Interactive Brokers Group, Incの営業利益変化の要因
- •Operating income rose to $2.0B (XBRL), with operating margin at 132.7% (XBRL) and net margin at 122.3% (XBRL). These figures reflect exceptional efficiency, though gross profit data is unavailable (XBRL). Net income grew 12.6% YoY (XBRL), outpacing revenue growth. The high margins suggest strong control over operating costs, though the lack of gross profit data limits deeper analysis (XBRL).
Interactive Brokers Group, Incの事業リスクと対応
Future stock sales may dilute ownership and lower stock price (10-K).
Concentrated control by Mr. Peterffy may hinder management changes (10-K).
Reliance on IBG LLC for cash distributions to meet obligations (10-K).
Obligation to pay Holdings for tax deductions from IPO-related step-up (10-K).
Corporate governance provisions may prevent stockholder-driven changes (10-K).
Regulatory/legal uncertainties and geopolitical risks could impact operations (10-K).
Intense competition and reliance on technology innovation pose operational risks (10-K).
Interactive Brokers Group, Incの事業内容
Interactive Brokers Group, Inc. (IBKR) operates as an automated global electronic broker, providing custody and trading services for institutional and individual investors (10-K). The company generates revenue through trade execution across 160+ exchanges for stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies (10-K). Key services include automated trading platforms, middle/back-office functions, and access to third-party providers (10-K). Customers span hedge funds, mutual funds, ETFs, investment advisors, and individual investors, with no significant concentration (10-K). Competitive advantages include proprietary software, low-cost execution, and technology-driven liquidity solutions (10-K).
Interactive Brokers Group, IncのAI業績分析レポート（2024年度）
Interactive Brokers Group, Inc. (IBKR) FY2024 Annual Report Analysis
Highlights
Business Overview
Interactive Brokers Group, Inc. (IBKR) operates as an automated global electronic broker, providing custody and trading services for institutional and individual investors (10-K). The company generates revenue through trade execution across 160+ exchanges for stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies (10-K). Key services include automated trading platforms, middle/back-office functions, and access to third-party providers (10-K). Customers span hedge funds, mutual funds, ETFs, investment advisors, and individual investors, with no significant concentration (10-K). Competitive advantages include proprietary software, low-cost execution, and technology-driven liquidity solutions (10-K).
Revenue Analysis
Revenue declined 4.0% YoY to $1.5B (XBRL), though 5-year CAGR remains strong at +11.0% (XBRL). Net income grew 12.6% YoY to $1.8B (XBRL), with 5-year CAGR of +20.1% (XBRL). Historical data shows revenue increasing from $925M (FY2020) to $1.6B (FY2023), then slightly declining in FY2024 (XBRL). The company's high-margin model (132.7% operating margin) and focus on automation likely drove profitability despite revenue contraction.
Profitability Analysis
Operating income rose to $2.0B (XBRL), with operating margin at 132.7% (XBRL) and net margin at 122.3% (XBRL). These figures reflect exceptional efficiency, though gross profit data is unavailable (XBRL). Net income grew 12.6% YoY (XBRL), outpacing revenue growth. The high margins suggest strong control over operating costs, though the lack of gross profit data limits deeper analysis (XBRL).
Balance Sheet Analysis
Total assets grew to $128.3B (XBRL), with cash reserves at $3.4B (XBRL). Equity increased to $3.6B (XBRL), but the equity ratio of 2.8% (XBRL) and D/E ratio of 31.86x (XBRL) indicate heavy reliance on debt. ROE of 51.4% (XBRL) contrasts with low ROA of 1.4% (XBRL), suggesting capital structure inefficiencies despite strong returns on equity.
Cash Flow Analysis
Operating cash flow totaled $4.0B (XBRL), with $3.9B in free cash flow (XBRL). Investing cash flow was -$67M (XBRL), while financing cash flow was -$470M (XBRL), including $40M in dividends paid (XBRL). The company's ability to generate substantial FCF despite negative financing flows highlights strong operational cash generation.
Working Capital Analysis
Receivables days stood at 6 days (XBRL), indicating rapid collections. Asset turnover was 0.01x (XBRL), suggesting underutilization of assets, though this may reflect the nature of IBKR's brokerage business model.
Risks
Outlook
N/A. The 10-K does not provide explicit forward-looking guidance for FY2025 (XBRL). Historical trends show revenue growth from FY2020 to FY2023, with net income continuing to rise despite FY2024's revenue contraction.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 925M | 847M | 1.3B | 1.6B | 1.5B | 1.6B |
| Operating Income | N/A | N/A | N/A | N/A | 2.0B | N/A |
| Net Income | 1.1B | 1.1B | 1.2B | 1.6B | 1.8B | 2.8B |
| Total Assets | 71.7B | 95.7B | 109.1B | 115.1B | 128.3B | 150.1B |
| Total Equity | 1.5B | 2.0B | 2.4B | 2.8B | 3.6B | 4.3B |
| Operating Cash Flow | 2.4B | 2.7B | 8.1B | 5.9B | 4.0B | 4.5B |
Financialsの企業一覧
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