v3.26.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUES:    
Advisory $ 2,615,047 $ 1,689,245
Commission 1,192,034 1,047,757
Asset-based 820,805 695,241
Service and fee 210,984 145,199
Transaction and fee 80,542 67,864
Interest Income 45,180 43,851
Other (26,158) (19,150)
Total net revenues 4,938,434 3,670,007
EXPENSES:    
Advisory and commission 3,291,209 2,353,925
Compensation and benefits 368,740 305,546
Promotional 208,400 145,645
Occupancy and equipment 118,523 77,240
Depreciation and amortization 105,751 92,356
Interest Expense, Debt 100,292 85,862
Brokerage, clearing and exchange 55,475 44,138
Amortization of intangible assets 67,230 43,521
Professional services 50,381 36,326
Communications and data processing 23,467 19,506
Other 64,382 48,689
Costs and Expenses, Total 4,453,850 3,252,754
INCOME BEFORE PROVISION FOR INCOME TAXES 484,584 417,253
PROVISION FOR INCOME TAXES 128,180 98,680
NET INCOME $ 356,404 $ 318,573
Earnings Per Share [Abstract]    
Earnings per share, basic $ 4.45 $ 4.27
Earnings per share, diluted $ 4.43 $ 4.24
Weighted-average shares outstanding, basic 80,113 74,600
Weighted-average shares outstanding, diluted 80,446 75,112
Client cash    
REVENUES:    
Asset-based $ 445,325 $ 392,031
Other asset-based    
REVENUES:    
Asset-based 375,480 303,210
Trailing    
REVENUES:    
Commission 486,619 437,719
Sales-based    
REVENUES:    
Commission $ 705,415 $ 610,038