BGC Group (BGC) FY2019 results: revenue $2.1 billion, up 8.6% on the year
BGC Group, Inc. (BGC) reported revenue of $2.1 billion for fiscal 2019, the year ended 31 December 2019, up 8.6% on the year before. Net income was $44 million, down 78.3%, and diluted earnings per share $0.13. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$2.1 billion
+8.6% on the year
FY2012FY2019
Operating margin
3.0%
5.9% a year earlier
FY2012FY2019
Net income
$44 million
-78.3% on the year
FY2012FY2019
Diluted EPS
$0.13
-79.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,104
1,938
1,751
+8.6%
Operating income
63.2
114
-26.9
-44.5%
Operating margin
3.0%
5.9%
-1.5%
Interest expense
60.2
42.5
77.0
+41.8%
Pre-tax income
117
172
4.1
-32.2%
Income tax
49.8
63.8
92.8
-21.9%
Effective tax rate
42.7%
37.1%
2243.0%
Net income
43.9
202
51.5
-78.3%
Net margin
2.1%
10.4%
2.9%
Diluted EPS
$0.13
$0.62 basic
$0.17
-79.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
241
-816
n/a
Capital expenditure
46.7
24.5
25.0
+90.3%
Free cash flow
194
-840
n/a
Free cash flow margin
9.2%
-43.4%
n/a
Cash from investing
-42.6
n/a
n/a
Cash from financing
18.2
n/a
n/a
Depreciation and amortisation
81.9
71.5
65.4
+14.5%
Share-based compensation
n/a
50.3
n/a
Buybacks
1.2
10.4
16.8
-88.2%
Dividends paid
192
231
200
-16.9%
Dividend per share
$0.56
$0.72
$0.70
-22.2%
Diluted shares, weighted
460m
322m
454m
+42.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
675
768
634
-12.2%
Non-controlling interest
50.3
94.8
506
-46.9%
Redeemable equity
23.6
24.7
46.4
-4.3%
Debt
1,148
769
581
+49.3%
Other liabilities
2,031
1,776
3,662
+14.3%
Total liabilities and equity
3,927
3,433
5,430
+14.4%
Fixed assets
205
157
125
+30.3%
Goodwill
554
505
468
+9.7%
Intangible assets
303
299
286
+1.5%
Trading assets
n/a
n/a
141
Cash and equivalents
415
337
513
+23.4%
Other assets
2,450
2,136
3,897
+14.7%
Total assets
3,927
3,433
5,430
+14.4%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.