BGC Group
BGC · Investment Banking & Brokerage
$11.79
0.8%Interactive Brokers
IBKR · Investment Banking & Brokerage
$80.28
2.4%The short version
- Interactive Brokers is the larger business, with $6.2B of revenue in fiscal 2025 against $2.9B for BGC Group, about 2.1 times as much.
- BGC Group grew revenue faster (30.0%, against 19.7%).
- Interactive Brokers turned more of its sales into free cash flow (253.7% FCF margin, against 12.7% FCF margin).
- Investors pay more for each dollar of Interactive Brokers’s earnings: a P/E of 32.0x against 28.8x for BGC Group.
| Latest fiscal year | BGC · FY25 | IBKR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.6B | $36.1B |
| Revenue | $2.9B | $6.2B |
| Free cash flow | $373M | $15.7B |
| Net income | $155M | $984M |
| Growth | ||
| Revenue growth | 30.0% | 19.7% |
| 5-year growth | 7.4% | 22.8% |
| Share count change | 0.4% | 1.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 5.3% | 15.9% |
| FCF margin | 12.7% | 253.7% |
| Return on capital | 13.2% | — |
| Return on equity | 16.6% | — |
| Balance sheet | ||
| Net debt | $709M | −$4.9B |
| Net debt / EBITDA | 1.7x | −0.6x |
| Dividends and buybacks | $321M | $134M |
| Valuation & quality | ||
| P/E | 28.8x | 32.0x |
| Piotroski F-score | — | — |
FY16
BGC $1.6B
IBKR $1.4B
FY17
BGC $1.8B
IBKR $1.7B
FY18
BGC $1.9B
IBKR $1.9B
FY19
BGC $2.1B
IBKR $1.9B
FY20
BGC $2.1B
IBKR $2.2B
FY21
BGC $2.0B
IBKR $2.7B
FY22
BGC $1.8B
IBKR $3.1B
FY23
BGC $2.0B
IBKR $4.3B
FY24
BGC $2.3B
IBKR $5.2B
FY25
BGC $2.9B
IBKR $6.2B
BGC
IBKR
FY16
BGC —
IBKR —
FY17
BGC —
IBKR —
FY18
BGC —
IBKR —
FY19
BGC —
IBKR —
FY20
BGC —
IBKR —
FY21
BGC —
IBKR —
FY22
BGC —
IBKR —
FY23
BGC —
IBKR —
FY24
BGC —
IBKR —
FY25
BGC —
IBKR —
BGC
IBKR
FY16
BGC −$124M
IBKR $608M
FY17
BGC $368M
IBKR $1.0B
FY18
BGC −$91.9M
IBKR $2.3B
FY19
BGC $194M
IBKR $2.6B
FY20
BGC $272M
IBKR $8.0B
FY21
BGC $407M
IBKR $5.8B
FY22
BGC $214M
IBKR $3.9B
FY23
BGC $390M
IBKR $4.5B
FY24
BGC $286M
IBKR $8.7B
FY25
BGC $373M
IBKR $15.7B
BGC
IBKR
FY16
BGC 4.9%
IBKR —
FY17
BGC 2.5%
IBKR —
FY18
BGC 11.1%
IBKR —
FY19
BGC 7.7%
IBKR —
FY20
BGC 7.3%
IBKR —
FY21
BGC 16.0%
IBKR —
FY22
BGC 7.6%
IBKR —
FY23
BGC 7.3%
IBKR —
FY24
BGC 13.8%
IBKR —
FY25
BGC 13.2%
IBKR —
BGC
IBKR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.