BGC Group, Inc. BGC
Throughout this document, the terms the "Company," "BGC," "we," "our," and "us," refer to: (i) following the closing of the Corporate Conversion, effective at 12:02 am Eastern Time on July 1, 2023, BGC Group, Inc. and its consolidated subsidiaries, including BGC Partners, Inc.; and (ii) prior to the closing of the Corporate Conversion, BGC Partners, Inc. and its consolidated subsidiaries.
We are a leading global marketplace, data, and financial technology company across the ECS and financial markets. We specialize in the brokerage and trade execution of a broad range of ECS products, including listed derivatives and physical commodities in the oil and refined, and environmental and energy transition, markets, as well as ship chartering. Additionally, we provide brokerage services across fixed income securities such as government bonds and corporate bonds, as well as interest rate derivatives and credit derivatives, foreign exchange, equities and futures and options. Our business also provides network and connectivity solutions, market data and related information services, and post-trade services.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.44B | $1.81B | $1.61B | $1.41B | $1.66B | $1.69B | $1.76B | $1.94B | $1.75B | $1.55B |
| Total operating expenses | $2.82B | $2.18B | $1.99B | $1.72B | $2.18B | $1.99B | $2.04B | $1.82B | $1.78B | $1.53B |
| Interest expense | — | — | $77.2M | $57.9M | $69.3M | $76.6M | $60.2M | $42.5M | $77.0M | $57.6M |
| Pre-tax income | $213.7M | $173.1M | $57.7M | $97.5M | $176.5M | $72.2M | $116.6M | $171.9M | $4.1M | $120.5M |
| Income tax | $67.2M | $49.9M | $18.9M | $38.6M | $23.0M | $21.3M | $49.8M | $63.8M | $92.8M | $56.3M |
| Net income | $155.0M | $123.2M | $38.8M | $58.9M | $153.5M | $50.9M | $43.9M | $202.2M | $51.5M | $185.0M |
| EPS, basic | 0.31 | 0.26 | 0.08 | 0.13 | 0.33 | 0.12 | 0.13 | 0.62 | 0.18 | 0.67 |
| EPS, diluted | 0.31 | 0.25 | 0.07 | 0.13 | 0.32 | 0.12 | 0.12 | — | 0.17 | 0.65 |
| Shares, diluted (wtd. avg.) | $480.9M | $479.1M | $490.0M | $499.4M | $540.0M | $546.8M | $472.2M | $322.1M | $287.4M | $277.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $851.5M | $711.6M | $655.6M | $485.0M | $553.6M | $596.3M | $415.4M | $336.5M | $513.3M | $535.6M |
| Property, plant and equipment | — | — | — | — | — | $214.8M | $204.8M | $157.2M | $124.5M | $167.2M |
| Goodwill | $648.6M | $540.3M | $506.3M | $486.6M | $486.9M | $556.2M | $553.7M | $504.6M | $468.1M | $451.0M |
| Other intangibles | $427.9M | $240.9M | $211.3M | $192.8M | $207.7M | $287.2M | $303.2M | $298.8M | $286.1M | $253.2M |
| Total assets | $4.41B | $3.59B | $3.18B | $3.07B | $3.34B | $3.95B | $3.93B | $3.43B | $5.43B | $5.05B |
| Short-term debt | $20.0M | $0 | — | $1.9M | $3.6M | $3.8M | $5.0M | $5.2M | $6.0M | — |
| Long-term debt | $1.78B | $1.34B | $1.18B | $1.05B | $1.05B | $1.32B | $1.14B | $763.5M | $575.0M | $965.8M |
| Total liabilities | $3.27B | $2.51B | $2.28B | $2.33B | $2.66B | $3.12B | $3.18B | $2.54B | $4.24B | $3.36B |
| Retained earnings | -$910.4M | -$1.03B | -$1.12B | -$1.14B | -$1.17B | -$1.28B | -$1.25B | -$1.11B | -$866.9M | -$212.9M |
| Total equity | $972.5M | $898.5M | $898.2M | $733.2M | $663.3M | $811.3M | $729.1M | $855.5M | $1.13B | $1.63B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $394.4M | $315.4M | $405.2M | $224.4M | $417.2M | $302.6M | $241.1M | -$67.3M | $392.8M | -$106.6M |
| Depreciation and amortisation | $103.3M | $81.4M | $80.4M | $75.1M | $81.9M | $85.4M | $81.9M | $71.5M | $65.4M | $62.5M |
| Capital expenditure | $21.5M | $29.6M | $14.9M | $10.6M | $10.1M | $30.8M | $46.7M | $24.5M | $25.0M | $17.8M |
| Investing cash flow | -$282.6M | -$97.0M | -$90.7M | -$53.3M | $121.1M | -$77.9M | -$42.6M | $9.2M | -$112.6M | $385.6M |
| Financing cash flow | $21.2M | -$149.0M | -$146.9M | -$233.2M | -$819.5M | -$13.1M | $18.2M | $50.9M | -$237.8M | -$258.1M |
| Dividends paid | $39.0M | $34.2M | $17.4M | $14.9M | $15.1M | $60.4M | $192.4M | $231.4M | $200.1M | $170.8M |
| Buybacks | $281.5M | $262.2M | $114.6M | $103.9M | $365.4M | $6.0K | $1.2M | $10.4M | $16.8M | $96.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-013162.
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