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BGC

BGC Group, Inc

BGC

BGC Group, Inc • NASDAQ
$8.71 ▲ 1.34% (+0.12)
Market Cap $4.15 B
52w High $10.96
52w Low $7.24
Dividend Yield 0.08%
P/E 26.38
Volume 1.34M
Outstanding Shares 477.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $722.81M ▼ $202.453M ▼ $27.882M ▼ 3.857% ▼ $0.059 ▼ $94.76M ▼
Q2-2025 $768.736M ▲ $209.669M ▲ $57.545M ▲ 7.486% ▼ $0.11 $134.958M ▲
Q1-2025 $652.611M ▲ $183.631M ▼ $55.164M ▲ 8.453% ▲ $0.11 ▲ $126.502M ▲
Q4-2024 $559.962M ▲ $229.777M ▲ $25.203M ▲ 4.501% ▲ $0.05 ▲ $72.124M ▲
Q3-2024 $544.167M $198.861M $14.747M 2.71% $0.03 $64.729M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $774.94M ▼ $5.825B ▲ $4.683B ▲ $965.317M ▲
Q2-2025 $827.844M ▼ $4.892B ▲ $3.783B ▲ $930.462M ▼
Q1-2025 $966.357M ▲ $4.884B ▲ $3.742B ▲ $963.784M ▲
Q4-2024 $711.584M ▲ $3.592B ▼ $2.513B ▼ $898.507M ▲
Q3-2024 $563.467M $4.382B $3.339B $860.107M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $26.062M ▼ $141.86M ▲ $-26.372M ▲ $-160.022M ▼ $-42.883M ▲ $123.492M ▲
Q2-2025 $56.215M ▲ $71.239M ▲ $-276.994M ▼ $57.242M ▼ $-143.687M ▼ $56.832M ▲
Q1-2025 $53.429M ▲ $839K ▼ $-16.594M ▼ $266.055M ▲ $252.493M ▲ $-14.656M ▼
Q4-2024 $25.203M ▲ $251.888M ▲ $110.112M ▲ $-205.739M ▼ $149.773M ▲ $234.557M ▲
Q3-2024 $14.747M $88.32M $9.331M $-102.245M $-2.645M $67.762M

Five-Year Company Overview

Income Statement

Income Statement BGC’s revenue has been edging higher over the last several years, showing a business that is gradually growing rather than sprinting. Profitability has been positive but bumpy, with earnings moving up and down as markets, investments, and one‑off items flow through the results. The latest year shows a clear step up in profit versus the prior few years, suggesting better operating leverage and some payoff from its technology push, but the history still points to a business exposed to trading volumes and market conditions.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid for a capital‑markets firm, with a meaningful equity base and a cash position that provides a useful buffer. Debt is significant but has generally trended down from earlier peaks, indicating some improvement in leverage over time. Overall, BGC appears to be operating with a typical level of balance‑sheet risk for its industry rather than being either extremely conservative or heavily stretched.

Cash Flow

Cash Flow BGC has produced steady, positive operating cash flow year after year, which is a good sign that reported profits are backed by real cash generation. Free cash flow has also been consistently positive because the company’s spending on equipment and technology, while important, is not excessively large relative to the cash coming in. This pattern suggests the business can fund its core investments internally and still have flexibility for debt service, buybacks, or other capital uses, depending on management choices.

Competitive Edge

Competitive Edge BGC occupies a niche between traditional voice brokerage and fully electronic markets, and it is steadily tilting toward electronic trading where margins can be better. Its Fenics and FMX platforms give it a differentiated offering in rates, FX, and derivatives, supported by partnerships with major global banks that help provide liquidity and credibility. At the same time, it faces very tough competitors, including dominant exchanges and other electronic platforms, so gaining and defending market share will depend on execution quality, technology performance, and pricing discipline.

Innovation and R&D

Innovation and R&D Innovation is a central part of BGC’s strategy: it is investing heavily in electronic platforms like Fenics and FMX, faster trading technology, and data and analytics capabilities. The company is also layering in AI‑driven research and analytics via deals such as the Macro Hive acquisition, aiming to turn its trading activity and data into higher‑value information services. These efforts could meaningfully expand margins and revenue over time if adoption continues, but they also require ongoing spending and carry the risk that some initiatives may not scale as hoped in a crowded fintech landscape.

Summary

BGC looks like a steadily growing, cash‑generative capital‑markets firm that is actively reinventing itself around technology. Its income statement shows improving profitability after a choppy period, backed by solid free cash flow and a balance sheet that appears manageable, though not risk‑free. The real story is the strategic shift toward electronic trading and data platforms, where BGC has credible assets and strong partners but must compete against powerful incumbents. Future performance will hinge on how successfully it scales FMX and Fenics, converts more activity to higher‑margin electronic channels, and balances ambitious innovation with disciplined risk and cost management.

NEWS

November 6, 2025 · 8:00 AM UTC

BGC Reports Third Quarter 2025 Financial Results

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October 8, 2025 · 8:00 AM UTC

BGC Group Announces Its 2025 Virtual Annual Meeting of Stockholders

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October 7, 2025 · 8:00 AM UTC

BGC Group to Report Third Quarter 2025 Financial Results on November 6, 2025

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October 6, 2025 · 9:30 AM UTC

BGC Group Announces Acquisition of Macro Hive to Expand Agency Business

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October 1, 2025 · 8:30 AM UTC

Planet Fitness Announces Partnership with BGC Canada to Support Youth Health and Wellness

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