IB market cap is actually about 10 times that.. only about 10% of IB is listed. The reason IB is worth $Billions is because it has $Billions of cash in the bank. Those billions are the profits made from previous trading years. A quick look on the IB home page says: Interactive Brokers Group and its affiliates' equity capital exceeds $4.6 billion. How much cash does PNSN have?