BGC Group (BGC) FY2017 results: revenue $1.8 billion, up 12.7% on the year
BGC Group, Inc. (BGC) reported revenue of $1.8 billion for fiscal 2017, the year ended 31 December 2017, up 12.7% on the year before. Net income was $51 million, down 72.2%, and diluted earnings per share $0.17. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$1.8 billion
+12.7% on the year
FY2010FY2017
Operating margin
-1.5%
1.8% a year earlier
FY2010FY2017
Net income
$51 million
-72.2% on the year
FY2010FY2017
Diluted EPS
$0.17
-74.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,751
1,554
2,784
+12.7%
Operating income
-26.9
27.9
-80.9
Operating margin
-1.5%
1.8%
-2.9%
Interest expense
77.0
57.6
79.0
+33.5%
Pre-tax income
4.1
120
439
-96.6%
Income tax
92.8
56.3
120
+64.7%
Effective tax rate
2243.0%
46.8%
27.5%
Net income
51.5
185
160
-72.2%
Net margin
2.9%
11.9%
5.7%
Diluted EPS
$0.17
$0.67
$0.50
-74.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Capital expenditure
25.0
17.8
39.0
+40.5%
Depreciation and amortisation
65.4
62.5
84.1
+4.6%
Buybacks
16.8
96.0
12.1
-82.5%
Dividends paid
200
171
131
+17.2%
Dividend per share
$0.70
$0.62
$0.54
+12.9%
Diluted shares, weighted
454m
277m
335m
+63.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
634
1,184
634
-46.4%
Non-controlling interest
506
450
598
+12.4%
Redeemable equity
46.4
52.6
57.1
-11.7%
Debt
581
1,914
841
-69.6%
Other liabilities
3,662
1,448
1,853
+153.0%
Total liabilities and equity
5,430
5,048
3,983
+7.6%
Fixed assets
125
167
148
-25.5%
Goodwill
468
451
812
+3.8%
Intangible assets
286
253
234
+13.0%
Securities borrowed
n/a
n/a
0.0
Trading assets
141
155
645
-9.1%
Cash and equivalents
513
536
563
-4.2%
Other assets
3,897
3,486
1,581
+11.8%
Total assets
5,430
5,048
3,983
+7.6%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.