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BGC Group
(NASDAQ:BGC)
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Rating:68Neutral
Price Target:
$13.00
▲(11.59% Upside)
Action:Reiterated
Date:07/30/26
The score is driven mainly by solid operating performance and constructive guidance from the latest earnings call, supported by a positive price trend (trading above key moving averages). Offsetting factors are elevated balance-sheet leverage and a relatively high P/E with a modest dividend yield.
Positive Factors
Fenics revenue growth
Sustained double-digit growth in Fenics (platform and markets) indicates durable expansion of data and electronic execution revenues. These higher-margin, recurring-style streams diversify transaction exposure, scale with volumes, and strengthen long-term revenue stability and gross margin resilience.
Negative Factors
Elevated leverage
A leveraged balance sheet increases sensitivity to rising funding costs and market dislocations, constraining flexibility for M&A, buybacks, or aggressive reinvestment. Covenants and higher interest expense could pressure free cash flow and limit upside in stressed or higher-rate environments over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Fenics revenue growth
Sustained double-digit growth in Fenics (platform and markets) indicates durable expansion of data and electronic execution revenues. These higher-margin, recurring-style streams diversify transaction exposure, scale with volumes, and strengthen long-term revenue stability and gross margin resilience.
Read all positive factors
BGC Group (BGC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.52B
Dividend Yield0.69%
Average Volume (3M)3.44M
Price to Earnings (P/E)28.3
Beta (1Y)1.09
Revenue Growth28.55%
EPS Growth33.47%
CountryUS
Employees4,560
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.38
Shares Outstanding369,603,700
10 Day Avg. Volume2,207,722
30 Day Avg. Volume3,443,391
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 Upside37.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.42
Revenue Forecast (FY)$3.39B
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 earns revenue by facilitating transactions for institutional market participants and charging fees tied to the execution and servicing of those transactions. The largest driver is brokerage commissions and fees: when clients execute ...
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
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
11.65
Price Trends
11.24
Positive
10.93
Positive
9.98
Positive
Market Momentum
0.07
Negative
57.66
Neutral
95.97
Negative
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 11.65 is above the 20-day moving average (MA) of 11.32, above the 50-day MA of 11.24, and above the 200-day MA of 9.98, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 57.66 is Neutral, neither overbought nor oversold. The STOCH value of 95.97 is Negative, 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 | $5.39B | 16.65 | 23.52% | 2.59% | 32.12% | 40.51% | |
76 Outperform | $9.11B | 7.43 | 41.25% | 2.88% | 27.58% | 36.35% | |
73 Outperform | $5.44B | 22.14 | 42.00% | 3.88% | 13.69% | 12.33% | |
69 Neutral | $9.10B | 12.87 | 19.31% | ― | 23.83% | 45.00% | |
68 Neutral | $5.52B | 28.31 | 18.54% | 0.69% | 28.55% | 33.47% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $4.13B | 18.53 | 25.84% | 4.51% | 5.74% | -30.53% |
* Financial Sector Average
BGC
BGC Group
11.52
1.82
18.79%
SNEX
StoneX Group
76.57
32.91
75.39%
LAZ
Lazard
42.38
-7.34
-14.76%
PIPR
Piper Sandler
75.80
-2.41
-3.09%
MC
Moelis
67.08
-0.24
-0.35%
VIRT
Virtu Financial
58.73
16.31
38.44%
BGC Group Corporate Events
Business Operations and StrategyFinancial Disclosures
BGC Group Reaffirms Second-Quarter Outlook and Guidance
Positive
Jun 25, 2026
On June 25, 2026, BGC Group updated its outlook for the quarter ending June 30, 2026, reaffirming the revenue and pre-tax Adjusted Earnings ranges it had originally issued on May 7, 2026. The company also reiterated its use of a suite of non-GAAP ...
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...
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.