BGC Group vs Robinhood
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The short version
- Robinhood is the larger business, with $4.5B of revenue in fiscal 2025 against $2.9B for BGC Group, about 1.5 times as much.
- Robinhood grew revenue faster (51.6%, against 30.0%).
- Robinhood turned more of its sales into free cash flow (36.3% FCF margin, against 12.7%).
- Investors pay more for each dollar of Robinhood’s earnings: a P/E of 41.9x against 28.8x for BGC Group.
| Latest fiscal year | BGC · FY25 | HOOD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.6B | $86.7B |
| Revenue | $2.9B | $4.5B |
| Free cash flow | $373M | $1.6B |
| Net income | $155M | $1.9B |
| Growth | ||
| Revenue growth | 30.0% | 51.6% |
| 5-year growth | 7.4% | 36.1% |
| Share count change | 0.4% | 1.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 5.3% | 42.1% |
| FCF margin | 12.7% | 36.3% |
| Return on capital | 13.2% | — |
| Return on equity | 16.6% | 22.0% |
| Balance sheet | ||
| Net debt | $709M | — |
| Net debt / EBITDA | 1.7x | — |
| Dividends and buybacks | $321M | $653M |
| Valuation & quality | ||
| P/E | 28.8x | 41.9x |
| Piotroski F-score | — | — |
Revenue
FY16
BGC $1.6B
HOOD —
FY17
BGC $1.8B
HOOD —
FY18
BGC $1.9B
HOOD —
FY19
BGC $2.1B
HOOD $278M
FY20
BGC $2.1B
HOOD $958M
FY21
BGC $2.0B
HOOD $1.8B
FY22
BGC $1.8B
HOOD $1.4B
FY23
BGC $2.0B
HOOD $1.9B
FY24
BGC $2.3B
HOOD $3.0B
FY25
BGC $2.9B
HOOD $4.5B
BGC
HOOD
Operating margin
FY16
BGC —
HOOD —
FY17
BGC —
HOOD —
FY18
BGC —
HOOD —
FY19
BGC —
HOOD —
FY20
BGC —
HOOD —
FY21
BGC —
HOOD —
FY22
BGC —
HOOD —
FY23
BGC —
HOOD —
FY24
BGC —
HOOD —
FY25
BGC —
HOOD —
BGC
HOOD
Free cash flow
FY16
BGC −$124M
HOOD —
FY17
BGC $368M
HOOD —
FY18
BGC −$91.9M
HOOD —
FY19
BGC $194M
HOOD $1.3B
FY20
BGC $272M
HOOD $1.9B
FY21
BGC $407M
HOOD −$948M
FY22
BGC $214M
HOOD −$880M
FY23
BGC $390M
HOOD $1.2B
FY24
BGC $286M
HOOD −$170M
FY25
BGC $373M
HOOD $1.6B
BGC
HOOD
Return on capital
FY16
BGC 4.9%
HOOD —
FY17
BGC 2.5%
HOOD —
FY18
BGC 11.1%
HOOD —
FY19
BGC 7.7%
HOOD —
FY20
BGC 7.3%
HOOD —
FY21
BGC 16.0%
HOOD —
FY22
BGC 7.6%
HOOD —
FY23
BGC 7.3%
HOOD —
FY24
BGC 13.8%
HOOD —
FY25
BGC 13.2%
HOOD —
BGC
HOOD
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.