BGC Group (BGC) FY2018 results: revenue $1.9 billion, up 10.7% on the year
BGC Group, Inc. (BGC) reported revenue of $1.9 billion for fiscal 2018, the year ended 31 December 2018, up 10.7% on the year before. Net income was $202 million, up 292.8%, and diluted earnings per share $0.62. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$1.9 billion
+10.7% on the year
FY2011FY2018
Operating margin
5.9%
-1.5% a year earlier
FY2011FY2018
Net income
$202 million
+292.8% on the year
FY2011FY2018
Diluted EPS
$0.62
+264.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,938
1,751
1,554
+10.7%
Operating income
114
-26.9
27.9
Operating margin
5.9%
-1.5%
1.8%
Interest expense
42.5
77.0
57.6
-44.8%
Pre-tax income
172
4.1
120
+4,056.6%
Income tax
63.8
92.8
56.3
-31.3%
Effective tax rate
37.1%
2243.0%
46.8%
Net income
202
51.5
185
+292.8%
Net margin
10.4%
2.9%
11.9%
Diluted EPS
$0.62 basic
$0.17
$0.67
+264.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-816
n/a
n/a
Capital expenditure
24.5
25.0
17.8
-2.0%
Free cash flow
-840
n/a
n/a
Free cash flow margin
-43.4%
n/a
n/a
Depreciation and amortisation
71.5
65.4
62.5
+9.2%
Share-based compensation
50.3
n/a
n/a
Buybacks
10.4
16.8
96.0
-37.8%
Dividends paid
231
200
171
+15.7%
Dividend per share
$0.72
$0.70
$0.62
+2.9%
Diluted shares, weighted
322m
454m
277m
-29.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
768
634
1,184
+21.2%
Non-controlling interest
94.8
506
450
-81.3%
Redeemable equity
24.7
46.4
52.6
-46.8%
Debt
769
581
1,914
+32.3%
Other liabilities
1,776
3,662
1,448
-51.5%
Total liabilities and equity
3,433
5,430
5,048
-36.8%
Fixed assets
157
125
167
+26.2%
Goodwill
505
468
451
+7.8%
Intangible assets
299
286
253
+4.4%
Trading assets
n/a
141
155
Cash and equivalents
337
513
536
-34.4%
Other assets
2,136
3,897
3,486
-45.2%
Total assets
3,433
5,430
5,048
-36.8%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.