BGC (BGC) financial statements
BGC reported revenue of $2.9B in fiscal 2025, up 7.3% a year over 9 years.
Net income was $155M.
Free cash flow was $328M, and the company returned $39M in dividends and $282M in net buybacks.
The diluted share count rose 10% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from BGC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.8B | $1.9B | $2.1B | $2.1B | $2.0B | $1.8B | $2.0B | $2.3B | $2.9B |
| Interest expense | $58M | $77M | $42M | $60M | $77M | $69M | $58M | $77M | — | — |
| Pre-tax income | $120M | $4M | $172M | $117M | $72M | $177M | $97M | $58M | $173M | $214M |
| Income tax | $56M | $93M | $64M | $50M | $21M | $23M | $39M | $19M | $50M | $67M |
| Net income | $185M | $51M | $202M | $44M | $45M | $124M | $49M | $36M | $127M | $155M |
| EPS (diluted) | $0.65 | $0.17 | $0.62 | $0.12 | $0.12 | $0.32 | $0.13 | $0.07 | $0.25 | $0.31 |
| Diluted shares | 433M | 454M | 322M | 344M | 362M | 379M | 372M | 426M | 473M | 476M |
| Net margin | 11.9% | 2.9% | 10.4% | 2.1% | 2.2% | 6.2% | 2.7% | 1.8% | 5.6% | 5.3% |
Balance sheet
Fiscal years, from BGC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $536M | $513M | $337M | $415M | $596M | $554M | $485M | $656M | $712M | $852M |
| Property, plant and equipment | $167M | $125M | $157M | $205M | $215M | $190M | $183M | $178M | $190M | $182M |
| Goodwill | $451M | $468M | $505M | $554M | $556M | $487M | $487M | $506M | $540M | $649M |
| Total assets | $5.0B | $5.4B | $3.4B | $3.9B | $4.0B | $3.3B | $3.1B | $3.2B | $3.6B | $4.4B |
| Long-term debt | $966M | $575M | $764M | $1.1B | $1.3B | $1.1B | $1.0B | $1.2B | $1.3B | $1.8B |
| Total liabilities | $3.4B | $4.2B | $2.5B | $3.2B | $3.1B | $2.7B | $2.3B | $2.3B | $2.5B | $3.3B |
| Shareholders' equity | $1.2B | $634M | $768M | $675M | $754M | $620M | $670M | $885M | $899M | $972M |
| Net debt | $430M | $62M | $427M | $727M | $720M | $499M | $564M | $528M | $626M | $924M |
Cash flow
Fiscal years, from BGC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$107M | $393M | -$67M | $241M | $303M | $417M | $224M | $405M | $315M | $394M |
| Capital spending | $36M | $58M | $74M | $97M | $85M | $53M | $59M | $60M | $72M | $66M |
| Free cash flow | -$143M | $334M | -$142M | $144M | $217M | $364M | $166M | $345M | $243M | $328M |
| Stock-based compensation | — | — | $50M | — | — | — | — | — | — | — |
| Dividends paid | $171M | $200M | $231M | $192M | $60M | $15M | $15M | $17M | $34M | $39M |
| Share buybacks (net) | -$96M | -$17M | -$10M | -$1M | -$6,000 | -$365M | -$104M | -$115M | -$262M | -$282M |
| Net borrowing | — | $991M | $190M | $377M | $167M | -$268M | -$6M | -$625M | -$815M | -$1.0B |
| Free cash flow margin | -9.2% | 19.1% | -7.3% | 6.8% | 10.6% | 18.1% | 9.2% | 17.0% | 10.8% | 11.2% |
| Dividends per share | $0.39 | $0.44 | $0.72 | $0.56 | $0.17 | $0.04 | $0.04 | $0.04 | $0.07 | $0.08 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for BGC.
Open BGC in InvestinglyQuestions
What was BGC's revenue in 2025?
$2.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does BGC generate?
$328M in fiscal 2025 (operating cash flow minus capital spending).
From BGC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.