Interactive Brokers (IBKR) Operating Expenses (2009 - 2026)
Interactive Brokers (IBKR) reported Operating Expenses of $418 million for Q3 2026, up 21.9% from $343 million a year earlier but down 5.0% from the prior quarter.
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Analysis
Interactive Brokers (IBKR) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Interactive Brokers' Operating Expenses came in at $1.58 billion, up 10.0% year-over-year; for FY2025, it was $1.43 billion, down 3.8% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of 8.3% (FY2020 to FY2025).
- By year, Operating Expenses came in at $1.49 billion in FY2024 (+17.2%), $1.27 billion in FY2023 (+18.9%), $1.07 billion in FY2022 (+15.3%) and $927 million in FY2021 (-3.6%).
- Five-year quarterly Operating Expenses spans a low of $230 million in Q4 2021 and a high of $456 million in Q3 2024.
- Year over year, Operating Expenses has now increased in each of the last three quarters, with growth averaging 5.1% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q3 2024 (growth of 49.5%); the low point was Q3 2025 (a decline of 24.8%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $440 million (Q2 2026), $381 million (Q1 2026) and $343 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 113.65 Bn | 101.99 Bn | 359.20 Mn | 595.90 Mn |
| 2 | Bank of New York Mellon | 103.23 Bn | 37.32 Bn | - | 3.49 Bn |
| 3 | Intercontinental Exchange | 99.60 Bn | 93.42 Bn | 1.22 Bn | 1.36 Bn |
| 4 | Robinhood Markets | 70.15 Bn | 49.76 Bn | - | 739.00 Mn |
| 5 | Nasdaq | 60.57 Bn | 58.01 Bn | 1.48 Bn | 749.00 Mn |
| 6 | State Street | 47.32 Bn | 43.94 Bn | - | 2.62 Bn |
| 7 | Cboe Global Markets | 39.19 Bn | 29.68 Bn | 712.20 Mn | 249.40 Mn |
| 8 | Interactive Brokers | 37.06 Bn | 20.72 Bn | - | 418.00 Mn |
| 9 | Northern Trust | 32.28 Bn | 32.28 Bn | - | 1.49 Bn |
| 10 | Tradeweb Markets | 30.81 Bn | 23.33 Bn | - | 331.12 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 418.00 Mn |
| Jun 30, 2026 | 440.00 Mn |
| Mar 31, 2026 | 381.00 Mn |
| Dec 31, 2025 | 343.00 Mn |
| Sep 30, 2025 | 343.00 Mn |
| Jun 30, 2025 | 376.00 Mn |
| Mar 31, 2025 | 372.00 Mn |
| Dec 31, 2024 | 347.00 Mn |
| Sep 30, 2024 | 456.00 Mn |
| Jun 30, 2024 | 350.00 Mn |
| Mar 31, 2024 | 337.00 Mn |
| Dec 31, 2023 | 323.00 Mn |
| Sep 30, 2023 | 305.00 Mn |
| Jun 30, 2023 | 348.00 Mn |
| Mar 31, 2023 | 295.00 Mn |
| Dec 31, 2022 | 287.00 Mn |
| Sep 30, 2022 | 267.00 Mn |
| Jun 30, 2022 | 264.00 Mn |
| Mar 31, 2022 | 251.00 Mn |
| Dec 31, 2021 | 230.00 Mn |
API Access
Interactive Brokers Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=IBKR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "IBKR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=IBKR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();