BGC Group, Inc. operates as a financial brokerage and technology company in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company offers various brokerage services, such as government bonds and corporate bonds as well as interest rate derivatives and credit derivatives, foreign exchange, fixed income products, equities and futures and options; and brokerage and trade execution of ECS products, including listed derivatives and physical commodities in the oil and refined, and environmental and energy transition markets; and ship chartering services. It also provides price discovery, trade execution, brokerage services, clearing, information, and other back-office services to financial and non-financial institutions. In addition, the company offers financial technology solutions, network and connectivity solutions, market data and related information services, market infrastructure, and post-trade services. Further, the company's integrated platform is designed to provide flexibility to customers regarding price discovery, trade execution and processing of transactions, as well as accessing liquidity through its platforms, for transactions executed either OTC or through an exchange. It primarily serves banks, broker-dealers, trading firms, hedge funds, governments, corporations, investment firms, commodity trading firms, and end users. BGC Group, Inc. was founded in 1945 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.9B | $442M | $155M | $328M | 15.9% | 30.9% | 22.0% |
| 2024 | $2.2B | $346M | $127M | $243M | 14.1% | 11.4% | 250.2% |
| 2023 | $2.0B | $215M | $36M | $345M | 4.1% | 11.6% | -25.6% |
| 2022 | $1.8B | $230M | $49M | $166M | 7.3% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,774.30 | 1,979.98 | 2,206.59 | 2,887.64 |
| Operating Revenue | - | 1,757.92 | 1,960.06 | 2,185.94 | 2,856.08 |
| Cost Of Revenue | - | 937.10 | 1,086.78 | 1,227.07 | 1,764.57 |
| Gross Profit | - | 837.19 | 893.20 | 979.52 | 1,123.07 |
| Operating Expense | - | 634.65 | 754.55 | 794.42 | 822.50 |
| Selling General And Administration | - | 634.65 | 754.55 | 794.42 | 822.50 |
| Total Expenses | - | 1,571.75 | 1,841.32 | 2,021.49 | 2,587.07 |
| Operating Income | - | 202.54 | 138.66 | 185.10 | 300.56 |
| EBITDA | - | 230.44 | 215.36 | 345.65 | 442.37 |
| Normalized EBITDA | - | 231.47 | 215.36 | 306.88 | 375.66 |
| EBIT | - | 155.38 | 134.94 | 264.22 | 339.06 |
| Interest Income | - | 21.01 | 45.42 | 56.22 | 53.82 |
| Interest Expense | - | 57.93 | 77.23 | 91.08 | 125.32 |
| Net Interest Income | - | -36.92 | -31.81 | -34.85 | -71.49 |
| Other Non Operating Income Expenses | - | -78.06 | -58.29 | -24.30 | -90.37 |
| Other Income Expense | - | -68.17 | -49.14 | 22.89 | -15.32 |
| Interest Income Non Operating | - | 21.01 | 45.42 | 56.22 | 53.82 |
| Interest Expense Non Operating | - | 57.93 | 77.23 | 91.08 | 125.32 |
| Net Non Operating Interest Income Expense | - | -36.92 | -31.81 | -34.85 | -71.49 |
| Pretax Income | - | 97.45 | 57.71 | 173.14 | 213.75 |
| Tax Provision | - | 38.58 | 18.93 | 49.92 | 67.21 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.41 | 0 | 11.18 | 20.95 |
| Net Income Continuous Operations | - | 58.87 | 38.78 | 123.23 | 146.54 |
| Net Income From Continuing And Discontinued Operation | - | 48.71 | 36.26 | 126.99 | 154.96 |
| Net Income From Continuing Operation Net Minority Interest | - | 48.71 | 36.26 | 126.99 | 154.96 |
| Net Income | - | 48.71 | 36.26 | 126.99 | 154.96 |
| Net Income Common Stockholders | - | 48.71 | 34.07 | 121.22 | 148.63 |
| Normalized Income | - | 49.33 | 36.26 | 99.40 | 109.19 |
| Diluted NI Availto Com Stockholders | - | 63.48 | 33.94 | 121.27 | 148.68 |
| Basic Average Shares | - | 371.56 | 426.44 | 473.39 | 476.36 |
| Diluted Average Shares | - | 499.41 | 489.99 | 479.14 | 480.95 |
| Reconciled Depreciation | - | 75.05 | 80.42 | 81.43 | 103.31 |
| Reconciled Cost Of Revenue | - | 937.10 | 1,086.78 | 1,227.07 | 1,764.57 |
| Total Unusual Items | - | -1.03 | 0 | 38.77 | 66.72 |
| Total Unusual Items Excluding Goodwill | - | -1.03 | 0 | 38.77 | 66.72 |
| Minority Interests | - | -10.15 | -2.51 | 3.76 | 8.42 |
| Special Income Charges | - | -1.03 | 0 | 38.77 | 66.72 |
| Gain On Sale Of Business | - | -1.03 | 0 | 38.77 | 66.72 |
| Gain On Sale Of Security | 312.94 | - | - | - | - |
| General And Administrative Expense | - | 585.43 | 692.66 | 723.95 | 717.27 |
| Other Gand A | - | 176.87 | 174.54 | 185.57 | 203.47 |
| Salaries And Wages | - | 251.07 | 355.38 | 369.14 | 329.59 |
| Rent Expense Supplemental | - | 157.49 | 162.74 | 169.24 | 184.21 |
| Other Operating Expenses | 24.03 | - | - | - | - |
| Selling And Marketing Expense | - | 49.22 | 61.88 | 70.47 | 105.24 |
| Rent And Landing Fees | - | 157.49 | 162.74 | 169.24 | 184.21 |
| Otherunder Preferred Stock Dividend | - | 0 | 2.19 | 5.77 | 6.33 |
| Earnings From Equity Interest | - | 10.92 | 9.15 | 8.43 | 8.33 |
| Average Dilution Earnings | - | 14.77 | -0.13 | 0.05 | 0.05 |
| Occupancy And Equipment | 188.32 | - | - | - | - |
| Professional Expense And Contract Services Expense | 67.88 | - | - | - | - |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| BGC Group, Inc.this co. | BGC | $5.1B | 32.65β premium | 5.20 | 15.9% | 14.02 |
| Victory Capital Holdings, Inc. | VCTR | $5.6B | 16.82 | 2.29 | 13.6% | 11.02 |
| Atlantic Union Bankshares Corporation | AUB | $5.4B | 19.74 | 1.08 | 5.5% | - |
| Mercury General Corporation | MCY | $5.4B | 9.99 | 2.24 | 22.4% | - |
| MARA Holdings, Inc. | MARA | $5.3B |
| - |
| - |
| - |
| - |
| -4.04 |
| 1.52 |
| -37.8% |
| -15.34 |
| Piper Sandler Companies | PIPR | $5.2B | 18.51 | 3.80 | 20.5% | - |
| Moelis & Company | MC | $5.1B | 22.10 | 9.06 | 41.0% | 17.18 |
| HA Sustainable Infrastructure Capital, Inc. | HASI | $5.1B | 27.87 | 2.00 | 7.2% | - |
| Axos Financial, Inc. | AX | $5.0B | 11.52 | 1.86 | 16.1% | - |
| Peer Median | - | 17.66 | 2.12 | 14.9% | 11.02 | |