IBKR · NMS · Financial Services
Interactive Brokers Group, Inc.
Also onConsensus Drift
Implied value per share
USD 39.10
Market price
USD 74.83
Implied upside
-47.7%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 21.1%
- Payout
- 12%
- Cost of equity
- 10.20%
- Return on equity by the final year
- 20.0%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 5.4bn | USD 6.3bn | USD 7.2bn | USD 8.2bn | USD 9.2bn | USD 10.2bn | USD 11.1bn | USD 11.9bn | USD 12.6bn | USD 13.1bn |
| Return on equity | 21.0% | 20.9% | 20.7% | 20.6% | 20.5% | 20.4% | 20.3% | 20.2% | 20.1% | 20.0% |
| Excess return | USD 576.9m | USD 667.7m | USD 762.1m | USD 857.8m | USD 951.7m | USD 1.0bn | USD 1.1bn | USD 1.2bn | USD 1.2bn | USD 1.3bn |
| Present value | USD 523.5m | USD 549.8m | USD 569.4m | USD 581.6m | USD 585.5m | USD 581.0m | USD 568.2m | USD 547.3m | USD 519.4m | USD 485.3m |
| Book equity | USD 5.4bn |
| Present value of excess returns | USD 5.5bn |
| Terminal, growing at 2.50% | USD 6.5bn |
| Equity value | USD 17.3bn |
| Per share | USD 39.10 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 1.255 | Reported 1.381, pulled toward 1.0 (Blume) |
| Cost of equity | 10.20% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.