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BGC Group
(NASDAQ:BGC)
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Rating:66Neutral
Price Target:
$13.00
▲(9.24% Upside)
Action:Reiterated
Date:09/29/26
The score is driven primarily by improving operating performance and strong cash flow, supported by a positive earnings-call outlook with upbeat growth and earnings guidance. These positives are tempered by balance-sheet leverage, only moderately supportive technicals (near-term softness despite a longer-term uptrend), and a relatively expensive valuation with a low dividend yield.
Positive Factors
Broad-Based Revenue Growth
Record quarterly revenue and more than 24% first-half growth demonstrate broadening client activity and stronger operating scale. Growth across multiple brokerage asset classes reduces reliance on one market and supports continued investment in electronic platforms, data, and related services.
Negative Factors
Meaningful Balance-Sheet Leverage
Debt at roughly 1.6 times equity leaves BGC more exposed to weaker trading environments and limits financial flexibility. If revenue or cash generation softens, leverage could constrain investment, capital allocation, and the company’s ability to absorb prolonged market pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-Based Revenue Growth
Record quarterly revenue and more than 24% first-half growth demonstrate broadening client activity and stronger operating scale. Growth across multiple brokerage asset classes reduces reliance on one market and supports continued investment in electronic platforms, data, and related services.
Read all positive factors
BGC Group (BGC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.44B
Dividend Yield0.7%
Average Volume (3M)3.19M
Price to Earnings (P/E)28.0
Beta (1Y)0.96
Revenue Growth27.75%
EPS Growth31.48%
CountryUS
Employees4,547
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.42
Shares Outstanding366,013,580
10 Day Avg. Volume4,176,929
30 Day Avg. Volume3,194,302
Financial Highlights & Ratios
PEG Ratio1.01
Price to Book (P/B)4.37
Price to Sales (P/S)1.41
P/FCF Ratio15.88
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$16.00Price Target Upside34.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.42
Revenue Forecast (FY)$3.43B
BGC Group Business Overview & Revenue Model
Company Description
BGC Group, Inc. is a global financial services enterprise that specializes in both brokerage and advanced technology solutions, operating across the United States and internationally. The company facilitates transactions for an extensive array of ...
How the Company Makes Money
BGC primarily makes money by earning brokerage and related transaction revenues when it intermediates trades between professional market participants (e.g., banks, broker-dealers, asset managers, hedge funds, corporates, and other institutions). I...
BGC Group Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call emphasized strong, broad-based revenue growth, record results in multiple areas (Q2 revenue, Fenics, FMX market share and volumes), improved profitability and margin expansion, and strategic initiatives (Fanatics partnership, compute markets). Key negatives included a regional revenue decline in Asia Pacific, geopolitical-driven volume disruptions in ECS (Strait of Hormuz), a notable decline in reported liquidity versus year-end, and higher operating expenses. Management provided constructive Q3 guidance and highlighted long-term optionality from electronic/FM X growth and strategic partnerships, while acknowledging some nascent-business uncertainty and near-term geopolitical/seasonal conservatism in guidance.Positive Updates
Record Quarter and Strong Year-to-Date Growth
Q2 revenues of $845.5 million, a second-quarter record and up 7.8% year-over-year. First half 2026 revenues rose more than 24% to $1.8 billion, the highest first-half result in company history; management noted double-digit revenue growth each year since 2022.
Negative Updates
Asia Pacific Revenue Decline
Asia Pacific revenues decreased 2.9% in the quarter, representing a regional weakness versus growth in the Americas and EMEA (EMEA +11.2%, Americas +6.1%).
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarter and Strong Year-to-Date Growth
Q2 revenues of $845.5 million, a second-quarter record and up 7.8% year-over-year. First half 2026 revenues rose more than 24% to $1.8 billion, the highest first-half result in company history; management noted double-digit revenue growth each year since 2022.
Read all positive updates
Company Guidance
For the third quarter of FY26 BGC guided revenues of $775 million to $835 million (versus $737 million in 3Q25), with the midpoint implying just over 9% revenue growth in the quarter and roughly 19% revenue growth for the first nine months of 2026; management expects pretax adjusted earnings of $172 million to $190 million (versus $155.1 million in 3Q25), with the midpoint implying ~17% earnings growth for the quarter and ~24% earnings growth for the first nine months, and reiterated a full‑year adjusted earnings tax rate of 11%–14%.BGC Group Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
56
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.37B | 3.01B | 2.21B | 1.98B | 1.77B | 1.99B |
| Gross Profit | 2.69B | 2.69B | 979.52M | 893.20M | 837.19M | 633.31M |
| EBITDA | 511.64M | 442.08M | 345.65M | 215.36M | 230.44M | 327.70M |
| Net Income | 198.89M | 154.96M | 126.99M | 36.27M | 48.71M | 124.01M |
Balance Sheet | ||||||
| Total Assets | 5.75B | 4.41B | 3.59B | 3.18B | 3.07B | 3.34B |
| Cash, Cash Equivalents and Short-Term Investments | 881.12M | 873.67M | 711.58M | 655.64M | 502.01M | 553.60M |
| Total Debt | 1.77B | 1.80B | 1.48B | 1.34B | 1.21B | 1.23B |
| Total Liabilities | 4.48B | 3.26B | 2.51B | 2.28B | 2.34B | 2.68B |
| Stockholders Equity | 1.11B | 972.48M | 898.51M | 885.08M | 669.64M | 619.75M |
Cash Flow | ||||||
| Free Cash Flow | 383.81M | 267.84M | 243.29M | 345.31M | 165.60M | 363.89M |
| Operating Cash Flow | 447.72M | 333.87M | 315.35M | 405.20M | 224.36M | 417.19M |
| Investing Cash Flow | 37.90M | -222.16M | -96.99M | -90.71M | -53.33M | 121.13M |
| Financing Cash Flow | -541.71M | 21.23M | -149.02M | -146.88M | -233.21M | -819.54M |
BGC Group Technical Analysis
Neutral
11.90
Price Trends
11.63
Negative
11.39
Positive
10.53
Positive
Market Momentum
0.02
Positive
41.89
Neutral
22.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BGC, the sentiment is Neutral. The current price of 11.9 is below the 20-day moving average (MA) of 12.05, above the 50-day MA of 11.63, and above the 200-day MA of 10.53, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 41.89 is Neutral, neither overbought nor oversold. The STOCH value of 22.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BGC.
BGC Group Risk Analysis
BGC Group disclosed 58 risk factors in its most recent earnings report. BGC Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BGC Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.34B | 6.54 | 41.25% | 1.79% | 27.58% | 36.35% | |
78 Outperform | $23.55B | 23.90 | 13.78% | 0.54% | 14.04% | 60.95% | |
76 Outperform | $5.19B | 17.98 | 31.85% | 0.86% | ― | ― | |
74 Outperform | $5.77B | 19.31 | 24.74% | 1.89% | 3.65% | 42.71% | |
68 Neutral | $7.87B | 10.61 | 20.18% | ― | 20.57% | 50.19% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $5.44B | 27.97 | 19.20% | 0.70% | 27.75% | 31.48% |
* Financial Sector Average
BGC
BGC Group
11.45
2.26
24.66%
SNEX
StoneX Group
65.25
20.29
45.13%
MKTX
Marketaxess Holdings
163.96
-3.64
-2.17%
VIRT
Virtu Financial
53.75
20.34
60.87%
TW
Tradeweb Markets
100.61
-6.46
-6.03%
MRX
Marex Group plc
72.13
41.90
138.60%
BGC Group Corporate Events
Business Operations and StrategyFinancial Disclosures
BGC Group Reaffirms Third-Quarter Outlook and Guidance
Positive
Sep 28, 2026
On September 28, 2026, BGC Group, Inc. announced from New York that it had updated its outlook for the quarter ending September 30, 2026, reaffirming previously stated ranges for revenue and pre-tax Adjusted Earnings for the third quarter. The com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.