Interactive Brokers Group Inc (IBKR) is undervalued and LPL Financial Holdings Inc (LPLA) is undervalued.
Against our estimates of intrinsic value, IBKR trades at the wider discount: a margin of safety of +64%, against +50% for LPLA.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.2% (average of 3 methods) values the shares at $252.05; the price of $91.88 is 64% below that value, and 80% of that value comes from beyond year five.
Leak Score 70/100 on 7 of 12 signals
Discounting its cash flows at 7.6% (average of 3 methods) values the shares at $618.22; the price of $307.50 is 50% below that value, and 82% of that value comes from beyond year five.
Leak Score 53/100 on 9 of 12 signals
| Metric | IBKR | LPLA |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $91.88 | $307.50 |
| Intrinsic value | $252.05 | $618.22 |
| Margin of safety | +64% | +50% |
| Leak Score | 70/100 (7/12) | 53/100 (9/12) |
| Market cap | $41.6B | $24.2B |
| Revenue growth, 5 years | 33.1% | 23.7% |
| Operating margin | 86.7% | 12.8% |
| Net margin | 10.0% | 5.1% |
| Return on equity | 21.0% | 18.6% |
| Debt to equity | 7.72 | 1.43 |
| P/E | 36.6x | 24.5x |
| Forward P/E | 28.9x | 10.3x |
| P/B | 7.0x | 4.2x |
| Dividend yield | 0.4% | 0.4% |