Bgc Group, Inc. (BGC)
NASDAQ:BGC
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BGC Group
(NASDAQ:BGC)
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Rating:69Neutral
Price Target:
$12.50
▲(5.84% Upside)
Action:Reiterated
Date:05/16/26
The score is driven by solid fundamentals (growth and cash generation) but constrained by leverage risk. Technicals are supportive with a clear uptrend and healthy momentum. Valuation is reasonable but not especially compelling given the low dividend yield, and the earnings outlook is positive overall but tempered by cost pressure and a slower Q2 growth guide.
Positive Factors
Diversified brokerage + tech platform
BGC's multi-asset, multi-channel model (voice, hybrid, electronic) and post-trade services create durable fee diversification. That mix smooths revenue cyclicality, supports cross-selling, and positions the firm to capture structural shifts toward electronic execution and workflow monetization over months to years.
Negative Factors
Elevated leverage
Material net leverage increases sensitivity to rising funding costs or market stress, limiting financial flexibility. Higher debt/ covenant exposure can constrain buybacks, M&A optionality and capital allocation, and elevates refinancing risk if liquidity conditions tighten over the 2–6 month horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified brokerage + tech platform
BGC's multi-asset, multi-channel model (voice, hybrid, electronic) and post-trade services create durable fee diversification. That mix smooths revenue cyclicality, supports cross-selling, and positions the firm to capture structural shifts toward electronic execution and workflow monetization over months to years.
Read all positive factors
BGC Group (BGC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.37B
Dividend Yield0.88%
Average Volume (3M)3.11M
Price to Earnings (P/E)13.9
Beta (1Y)1.15
Revenue Growth37.61%
EPS Growth38.89%
CountryUS
Employees3,971
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.38
Shares Outstanding370,460,480
10 Day Avg. Volume3,198,265
30 Day Avg. Volume3,109,431
Financial Highlights & Ratios
PEG Ratio1.02
Price to Book (P/B)4.37
Price to Sales (P/S)1.41
P/FCF Ratio15.88
Enterprise Value/Market Cap1.32
Enterprise Value/Revenue2.16
Enterprise Value/Gross Profit3.17
Enterprise Value/Ebitda14.45
Forecast
1Y Price Target
$14.00Price Target Upside18.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.43
Revenue Forecast (FY)$3.39B
BGC Group Business Overview & Revenue Model
Company Description
BGC Group, Inc. operates as a financial brokerage and technology company in the United States and internationally. The company offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instr...
How the Company Makes Money
BGC primarily makes money by charging for facilitating trades and liquidity between market participants. Its core revenue model is transaction-driven: it earns brokerage commissions and/or fees when trades are executed through its voice/hybrid bro...
BGC Group Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call communicated multiple record results: strong revenue and earnings growth, notable market-share gains (FMX UST 41%), robust ECS/Fenics momentum, and an expanded cost-savings program. Offsetting items included sharp compensation and non-comp expense increases (largely acquisition-related), a reduction in liquidity, revenue headwinds from sold/closed businesses (KACE and an OTC logistics unit), and a Q2 guide implying much slower growth as the company laps prior-year events and normalizes post-geopolitical volatility. On balance, the positive operational and financial achievements, plus continued margin initiatives and solid product/platform traction, outweigh the near-term headwinds.Positive Updates
Record Quarterly Revenue
Revenues increased 43.8% year-over-year to $955.5 million (record), with broad-based growth across every asset class and geography.
Negative Updates
Significant Compensation Expense Increase
Compensation and employee benefits rose substantially: GAAP up 57.3% and adjusted up 51.5%, driven by the OTC acquisition, higher commissionable revenues, cost-reduction charges, and a weaker U.S. dollar.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Revenue
Revenues increased 43.8% year-over-year to $955.5 million (record), with broad-based growth across every asset class and geography.
Read all positive updates
Company Guidance
Management guided Q2 2026 revenues of $785 million to $845 million (vs $784 million in Q2 2025), with the midpoint implying ~4% Q2 revenue growth and 22% revenue growth for the first half of 2026 (or ~13% organic 1H growth); pretax adjusted earnings guidance is $178 million to $196 million (vs $173.6 million last year), with the midpoint implying ~8% Q2 earnings growth and 26% earnings growth for the first half; they forecast a full‑year adjusted earnings tax rate of 11%–14%, noted the outlook assumes no material acquisitions or dispositions, and cautioned results remain subject to macroeconomic and other risks.BGC Group Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
56
Neutral
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.27B | 3.01B | 2.21B | 1.98B | 1.77B | 1.99B |
| Gross Profit | 2.23B | 2.69B | 979.52M | 893.20M | 837.19M | 633.31M |
| EBITDA | 489.23M | 442.08M | 345.65M | 215.36M | 230.44M | 327.70M |
| Net Income | 183.95M | 154.96M | 126.99M | 36.27M | 48.71M | 124.01M |
Balance Sheet | ||||||
| Total Assets | 5.86B | 4.41B | 3.59B | 3.18B | 3.07B | 3.34B |
| Cash, Cash Equivalents and Short-Term Investments | 22.12M | 873.67M | 711.58M | 655.64M | 502.01M | 553.60M |
| Total Debt | 1.78B | 1.80B | 1.48B | 1.34B | 1.21B | 1.23B |
| Total Liabilities | 4.59B | 3.26B | 2.51B | 2.28B | 2.34B | 2.68B |
| Stockholders Equity | 1.10B | 972.48M | 898.51M | 885.08M | 669.64M | 619.75M |
Cash Flow | ||||||
| Free Cash Flow | 295.07M | 267.84M | 243.29M | 345.31M | 165.60M | 363.89M |
| Operating Cash Flow | 360.37M | 333.87M | 315.35M | 405.20M | 224.36M | 417.19M |
| Investing Cash Flow | -230.95M | -222.16M | -96.99M | -90.71M | -53.33M | 121.13M |
| Financing Cash Flow | -317.10M | 21.23M | -149.02M | -146.88M | -233.21M | -819.54M |
BGC Group Technical Analysis
Positive
11.81
Price Trends
10.75
Positive
9.95
Positive
9.64
Positive
Market Momentum
0.10
Positive
51.98
Neutral
52.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BGC, the sentiment is Positive. The current price of 11.81 is above the 20-day moving average (MA) of 11.23, above the 50-day MA of 10.75, and above the 200-day MA of 9.64, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 51.98 is Neutral, neither overbought nor oversold. The STOCH value of 52.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $8.89B | 8.85 | 19.31% | ― | 23.83% | 45.00% | |
76 Outperform | $5.73B | 19.90 | 21.56% | 1.63% | 30.99% | 32.50% | |
74 Outperform | $8.14B | 5.19 | 35.67% | 2.88% | 28.84% | 73.53% | |
73 Outperform | $5.35B | 27.97 | 42.00% | 3.69% | 19.19% | 26.01% | |
69 Neutral | $5.37B | 13.92 | 18.54% | 0.88% | 37.61% | 38.89% | |
69 Neutral | $4.73B | 10.47 | 33.24% | 4.06% | 9.04% | -13.29% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
BGC
BGC Group
11.19
1.94
20.99%
SNEX
StoneX Group
112.12
55.10
96.63%
LAZ
Lazard
48.06
6.73
16.28%
PIPR
Piper Sandler
80.68
19.91
32.77%
MC
Moelis
65.76
11.41
21.00%
VIRT
Virtu Financial
52.47
12.69
31.90%
BGC Group Corporate Events
Business Operations and StrategyPrivate Placements and Financing
BGC Group Expands Revolving Credit Facility and Liquidity
Positive
May 15, 2026
On May 15, 2026, BGC Group, Inc. entered into a Third Amended and Restated Credit Agreement that replaced its prior facility with a new $700 million unsecured senior revolving credit line, expandable to $900 million, and extended its maturity to M...
Business Operations and StrategyFinancial Disclosures
BGC Group Raises First-Quarter 2026 Financial Outlook
Positive
Mar 26, 2026
On March 26, 2026, BGC Group updated its outlook for the quarter ending March 31, 2026, saying it now expects revenue and pre-tax Adjusted Earnings to come in slightly above the high end of its previously stated ranges. The revised guidance, which...
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.