BGC Group (BGC) FY2020 results: revenue $2.1 billion, down 2.3% on the year
BGC Group, Inc. (BGC) reported revenue of $2.1 billion for fiscal 2020, the year ended 31 December 2020, down 2.3% on the year before. Net income was $45 million, up 2.6%, and diluted earnings per share $0.12. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$2.1 billion
-2.3% on the year
FY2013FY2020
Operating margin
3.2%
3.0% a year earlier
FY2013FY2020
Net income
$45 million
+2.6% on the year
FY2013FY2020
Diluted EPS
$0.12
-7.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,057
2,104
1,938
-2.3%
Operating income
65.2
63.2
114
+3.1%
Operating margin
3.2%
3.0%
5.9%
Interest expense
76.6
60.2
42.5
+27.2%
Pre-tax income
72.2
117
172
-38.1%
Income tax
21.3
49.8
63.8
-57.2%
Effective tax rate
29.5%
42.7%
37.1%
Net income
45.1
43.9
202
+2.6%
Net margin
2.2%
2.1%
10.4%
Diluted EPS
$0.12
$0.13
$0.62 basic
-7.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
303
241
-816
+25.5%
Capital expenditure
30.8
46.7
24.5
-33.9%
Free cash flow
272
194
-840
+39.8%
Free cash flow margin
13.2%
9.2%
-43.4%
Cash from investing
-77.9
-42.6
n/a
Cash from financing
-13.1
18.2
n/a
Depreciation and amortisation
85.4
81.9
71.5
+4.3%
Share-based compensation
n/a
n/a
50.3
Buybacks
0.0
1.2
10.4
-99.5%
Dividends paid
60.4
192
231
-68.6%
Dividend per share
$0.17
$0.56
$0.72
-69.6%
Diluted shares, weighted
547m
460m
322m
+18.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
754
675
768
+11.8%
Non-controlling interest
57.1
50.3
94.8
+13.4%
Redeemable equity
20.7
23.6
24.7
-12.5%
Debt
1,320
1,148
769
+15.0%
Other liabilities
1,798
2,031
1,776
-11.5%
Total liabilities and equity
3,949
3,927
3,433
+0.6%
Fixed assets
215
205
157
+4.9%
Goodwill
556
554
505
+0.4%
Intangible assets
287
303
299
-5.3%
Cash and equivalents
596
415
337
+43.6%
Other assets
2,295
2,450
2,136
-6.3%
Total assets
3,949
3,927
3,433
+0.6%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.