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what it is
BGC helps big money firms trade bonds, currencies, commodities, and derivatives, then sells them the data and pipes that make those trades possible.
how it gets paid
Last year Bgc made $2.4B in revenue. Rates was the main engine at $0.84B, or 35% of sales.
why it's growing
Revenue grew 34.7% last year. $1.8 billion mattered most because scale changes the story: a broker is nice.
what just happened
Revenue hit $1.8B and EPS reached $0.28, showing the growth story is real even if the stock already knows it.
At a glance
B+ balance sheet — decent shape, but not bulletproof
35/100 earnings predictability — expect surprises
45.1x trailing p/e — you're paying up for this one
0.8% dividend yield — cash in your pocket every quarter
7.5% return on capital — nothing to write home about
xvary composite: 48/100 — below average
What they do
BGC helps big money firms trade bonds, currencies, commodities, and derivatives, then sells them the data and pipes that make those trades possible.
BGC wins because traders hate bad prices more than they hate fees. Its platforms sit where price discovery (finding the real market price) meets liquidity (buyers and sellers ready to trade) — so what: you go where the market already is. That network matters more when clients include the world’s largest banks and investment firms, and the company is already doing $2.4 billion in annual revenue.
How they make money
$2.4B
annual revenue · their business grew +34.7% last year
Rates
$0.84B
Credit
$0.60B
Foreign Exchange
$0.36B
Energy, Commodities, Shipping
$0.36B
Equities, Futures, Data and Connectivity
$0.24B
The products that matter
executes rates and currency trades
fixed income and fx brokerage
part of the $2.4B revenue base
this is core to what BGC does, but this page does not break out segment dollars inside the $2.4B revenue total. that's a real limitation if you're trying to judge mix quality.
core flow business
brokers power and raw materials
energy and commodities brokerage
exposed to trading activity
management exposure here matters because the business is tied to market volatility and customer volumes, while the page only gives you the top-line $2.4B number.
volume-sensitive
sells workflow and market data tools
data and fintech services
higher-quality revenue if it scales
this is the segment to watch because recurring data revenue usually deserves a better multiple than pure brokerage, but the snapshot gives no segment revenue split yet. for now, you know the company totals $2.4B in revenue and not much more.
quality question
Key numbers
45.1x
trailing p/e
P/E → price-to-earnings ratio → so what: you are paying $45.10 for each $1 of trailing profit, which leaves little room for a stumble.
$1.59
2026 eps est
EPS → profit per share → so what: if BGC gets there, the valuation drops fast and today's price looks less stretched.
$1.9B
long-term debt
Long-term debt → money owed over many years → so what: it equals 30% of capital, which is manageable but not tiny for a trading-driven business.
7.5%
return on capital
Return on capital → profit earned on the money used in the business → so what: 7.5% is decent, but it is not elite for a stock at 45.1x earnings.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 4 — safer than 20% of stocks
- price stability 40 / 100
- long-term debt $1.9B (30% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for BGC right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $1.8B and EPS reached $0.28, showing the growth story is real even if the stock already knows it.
Quarterly revenue jumped 191% vs. prior year to $1.8 billion, while EPS rose 367% to $0.28. The quiet part out loud: those are huge numbers, and the market is charging you a premium because of them.
$1.8B
revenue
$0.28
eps
191%
revenue growth
the number that mattered
$1.8 billion mattered most because scale changes the story: a broker is nice, but a giant market hub gets paid more consistently.
source: company earnings report, 2026
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What could go wrong
the top risk is trading-volume dependence across fixed income, fx, energy, and commodities.
high
trading activity slows and the top line cools off fast
BGC sits in the flow of market activity. when customers trade less, brokerage and marketplace revenue usually feel it quickly. that matters more here because the page gives you one big $2.4B revenue number, not a segment mix that proves resilience.
34.7% growth can reverse faster than investors expect if volumes normalize
med
the valuation leaves less room for operational wobble
a 45.1x trailing p/e is a growth-stock multiple. a 7.5% return on capital is not growth-stock quality. if earnings do not ramp toward the $1.59 fiscal 2026 estimate, the multiple becomes the story.
premium valuation on ordinary economics is how reratings happen
med
earnings are hard to model with confidence
the predictability score is 35/100. in human-speak: analysts do not have a clean read on the business. that raises the odds of estimate misses and sharper stock reactions around updates.
low predictability usually means wider post-earnings swings
med
leverage is manageable until business conditions get worse
$1.9B in long-term debt equals 30% of capital. that's not extreme, but it does reduce flexibility if volumes soften, margins compress, or management needs to spend to protect share.
debt matters more in cyclical businesses than it does in recurring-software ones
with $2.4B in revenue, $1.9B in long-term debt, and only 7.5% return on capital, BGC does not have much excess profitability to cushion a bad turn in trading activity.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
the next results need to validate the $1.59 eps setup
the market is already assuming a big earnings improvement versus the trailing p/e. if that progress stalls, the multiple gets harder to defend.
metric
return on capital versus valuation
7.5% return on capital and 45.1x trailing earnings should not coexist forever. either returns improve or the stock multiple usually does the adjusting.
risk
debt stays fine until volumes turn against you
$1.9B of long-term debt is manageable now. it becomes more interesting if market activity slows and cash generation loses momentum.
trend
was 34.7% growth a surge or a new base rate
that's the key question. one strong growth year can re-rate a stock for a while. a repeat can change the whole story.
Analyst rankings
earnings predictability
35 / 100
in human-speak, analysts do not trust this earnings stream to behave cleanly.
risk rank
4
this reads as below-average safety. not panic-worthy, just not a bunker stock.
price stability
40 / 100
the stock has not earned the right to be called steady. expect more movement than a sleepy financial name.
source: institutional data
Institutional activity
institutional ownership data for BGC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$10
current price
n/a
target midpoint · n/a from current
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