| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 69 | 29.7x | 17.8x | Top tier | |
Growth | 86 | 27.6% | 7.1% | Top tier | |
Quality | 91 | — | — | Top tier | |
Safety | 27 | — | — | Bottom tier | |
Capital Return | 67 | 0.66% | 2.12% | Top tier | |
Momentum | 84 | 1.3% | 2.9% | Top tier | |
Sentiment | 50 | 2 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
BGC Group operates as a global brokerage and financial markets infrastructure platform, generating revenue from trade execution and brokerage services across interest rates, energy, commodities, shipping, foreign exchange, credit, and equities. Alongside its traditional brokerage business, the company is expanding its electronic Fenics business, which includes trading platforms, market data, connectivity networks, and post-trade services, as well as FMX, PortfolioMatch, and Lucera; giving it a mix of trading volume-related revenue and technology and data revenue.
In Q2 FY2026, BGC recorded record revenue for the quarter of $845.5 million, up 7.8% year over year, while net income according to EDGAR was approximately $72.5 million and earnings per share were $0.15, equivalent to a calculated net income margin of approximately 8.6%. On the adjusted basis presented by management, pre-tax earnings were $192.9 million, up 11.1%, after-tax earnings were $171 million, and adjusted earnings per share were $0.35, while adjusted EBITDA reached $228.7 million.
Brokerage revenue in Q2 FY2026 was approximately $771.4 million, led by energy, commodities, and shipping at $275.5 million, followed by interest rates at $221.9 million, foreign exchange at $118.7 million, credit at $79.3 million, and equities at $76 million. At the same time, Fenics revenue increased 14.3% to $186.2 million, including $152.8 million for Fenics Markets and $33.4 million for growth platforms, while data, network, and post-trade revenue increased 18.6% to $36.7 million excluding Case.
The analyst consensus is “Buy,” with an average price target of $11.5, while the highest and lowest targets are both $11.5. This target is within the 52-week range of $8.27–$12.89, approximately 39.1% above the low and approximately 10.8% below the high. This reflects a positive assessment of the business, but the lack of dispersion among published targets makes the consensus less useful for measuring the execution risks of the FMX expansion and new ventures.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue was $845.5 million, up 7.8%, with growth across all asset classes. Interest rates revenue increased to $221.9 million, foreign exchange to $118.7 million, and energy, commodities, and shipping to $275.5 million. Fenics also grew 14.3% to $186.2 million, making the electronic businesses a faster-growing driver than the group as a whole.
FMX UST achieved record average daily volume of $79.4 billion in Q2 FY2026 and increased its market share to 42% from 35% a year earlier. Average futures volume was approximately 54 thousand contracts per day, more than 16 times the level recorded a year earlier, while open interest exceeded 140 thousand contracts. Management said during the July 30, 2026 call that buy-side client onboarding was accelerating, but it did not provide a numerical market-share target.
The partnership announced in July 2026 aims to build a prediction markets ecosystem serving retail and institutional participants. The deal combines BGC's institutional network and its data and analytics capabilities with Fanatics' customer base of more than 100 million. BGC will receive an upfront payment, a performance-linked return, and a data license, but management did not disclose the financial values or revenue-sharing details on July 30, 2026.
Automated analysis for informational purposes only — not investment advice.
BGC expects revenue of between $775 million and $835 million, compared with $737 million in the corresponding period. Expected adjusted pre-tax earnings range from $172 million to $190 million, compared with $155.1 million, with the midpoint representing growth of 17%. The company also expects a tax rate on adjusted earnings of between 11% and 14% for FY2026 as a whole.
In Q2 FY2026, adjusted pre-tax earnings increased 11.1% to $192.9 million, exceeding revenue growth of 7.8%. Adjusted after-tax earnings increased 11.2% to $171 million, and adjusted earnings per share increased 12.9% to $0.35. The incremental pre-tax margin was 31.3%, while management attributed the improvement to business growth and cost savings implemented during FY2026.
Oil and refined product volumes in Q2 FY2026 were affected by the closure of the Strait of Hormuz, despite energy, commodities, and shipping revenue growing 5.3% to $275.5 million. Asia-Pacific revenue declined 2.9%, in contrast to growth in the other two regions. Revenue from BGC Compute Infrastructure Markets and the economics of the Fanatics partnership also remain undefined, while FMX's expansion depends on continuing to attract participants and increase trading volumes.
