Cygnet is a proprietary trading firm that offers remote trading solutions in various financial assets, focused mainly on active intra-day equity trading on the ASX.

Cygnet Trading

Interactive Brokers Group, Inc. operates as an automated electronic broker worldwide. The company specializes in executing, clearing, and settling trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), metals, and cryptocurrencies. It also custodies and services accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors. In addition, it offers custody, prime brokerage, securities, and margin lending services. The company serves institutional and individual customers through approximately 150 electronic exchanges and market centers. Interactive Brokers Group, Inc. was founded in 1977 and is headquartered in Greenwich, Connecticut.

Interactive Brokers Group, Inc.

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments. The Institutional Securities segment offers capital raising and financial advisory services, including services related to the underwriting of debt, equity, and other securities, as well as advice on mergers and acquisitions, restructurings, real estate, and project finance. This segment also provides sales and trading services, such as sales, financing, prime brokerage, and market-making services in equity and fixed income products consisting of foreign exchange and commodities; corporate and commercial real estate loans, which provides secured lending facilities and financing for sales and trading customers, and asset-backed and mortgage lending; and wealth management services, investment, and research services. The Wealth Management segment offers financial advisor-led brokerage and investment advisory services; self-directed brokerage services; financial and wealth planning services; workplace services, including stock plan administration; annuity and insurance products; securities-based lending, residential real estate loans, and other lending products; banking; and retirement plan services to individual investors and small to medium-sized businesses and institutions. The Investment Management segment provides equity, fixed income, liquidity, and alternative/other products to benefit/defined contribution plans, foundations, endowments, government entities, sovereign wealth funds, insurance companies, and third-party fund sponsors and corporations through institutional and intermediary channels. Morgan Stanley was founded in 1924 and is headquartered in New York, New York.

Vikram Raju

Vincent Lupo

Dean G. Witter

Harold Stanley

Richard S. Reynolds

Henry Sturgis Morgan

Morgan Stanley

tastytrade is a brokerage that focuses on options trading, futures, and stock trading.

Metric
Company Name	Cygnet Trading	Interactive Brokers Group, Inc.	Morgan Stanley	tastytrade
Symbol		IBKR	MS
MSH ID	AU:COM:CYGNETTRADING	COM:INTERACTIVEBROKERS	COM:MORGANSTANLEY	COM:TASTYTRADE
Market	PRIVATE	STOCKS	STOCKS	PRIVATE
Sector	Financial Services & Finance	Financial Services	Financial Services	Financial Services & Finance
Industry	Proprietary Trading	Financial - Capital Markets	Financial - Capital Markets	Brokerage and Investment Services
Country	AU	US	US	US
Stage
Employee Count		2.95K	80K
Website	cygnettrading.com.au	interactivebrokers.com	morganstanley.com	tastytrade.com
LinkedIn		interactive-brokers	morgan-stanley
Founders

Metric
Market Cap	13.37B	168.14B
Enterprise Value
Monthly Web Traffic	11.69M	5.11M
Web Traffic Growth	0.23	-0.06
Valuation
Raised Capital

Metric
Revenue	7.86B	50.67B
Revenue (LTM)
Revenue (NTM)
Gross Profit	7.38B	50.67B
EBITDA	6.68B	15.93B
Operating Income	6.58B	11.67B
Net Income	600M	9.09B
EPS	5.72	5.24
Diluted EPS	5.67	5.18
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin	1	0.77
Operating Profit Margin	0.94	0.46
EBITDA Margin	0.85	0.31
Net Profit Margin	0.29	0.19
Return on Equity	0.19	0.11
Return on Assets	0.01	0.01
Return on Capital Employed	0.41	0.02

AU:COM:CYGNETTRADING

Cygnet Trading

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio	17.75	14.26
P/B Ratio	3.02	1.41
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio	8.45	3.44
EV Multiple	232.28	31.12

Metric
Days Sales Outstanding	3.45K	552.51
Days Payables Outstanding	8.87K	3.29K
Days Inventory Outstanding
Operating Cycle	4.93K
Cash Conversion Cycle	4.93K
Asset Turnover	0.06	0.05

Metric
Operating Cash Flow	4.54B	-33.54B
Free Cash Flow	4.50B	-36.95B
Cash Flow to Debt	28.82
Operating Cash Flow/Sales	1.09	-0.23
Free Cash Flow Yield	0.08	-0.23

Metric
Cash & Equivalents	67.98B	58.66B
Accounts Receivable	-5.72B	602M
Inventory		-765.38B
Goodwill		16.71B
Debt to Capitalization	0.89	0.80
Debt to Assets	0.09	0.22
Current Ratio	1.11	0.52
Quick Ratio	11.54K	1.82

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue	0.02	0.04
R&D to Revenue
SG&A to Revenue	0.05	0.16