BGC Group (BGC) FY2024 results: revenue $2.3 billion, up 11.7% on the year

BGC Group, Inc. (BGC) reported revenue of $2.3 billion for fiscal 2024, the year ended 31 December 2024, up 11.7% on the year before. Net income was $123 million, up 217.8%, and diluted earnings per share $0.25. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2025.

Revenue

$2.3 billion

+11.7% on the year

FY2017FY2024

Operating margin

3.6%

1.6% a year earlier

FY2017FY2024

Net income

$123 million

+217.8% on the year

FY2017FY2024

Diluted EPS

$0.25

+257.1% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,263	2,025	1,795	+11.7%
Operating income	80.6	32.6	78.2	+147.3%
Operating margin	3.6%	1.6%	4.4%
Interest expense	n/a	77.2	57.9
Pre-tax income	173	57.7	97.5	+200.0%
Income tax	49.9	18.9	38.6	+163.6%
Effective tax rate	28.8%	32.8%	39.6%
Net income	123	38.8	58.9	+217.8%
Net margin	5.4%	1.9%	3.3%
Diluted EPS	$0.25	$0.07	$0.13	+257.1%

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	315	405	224	-22.2%
Capital expenditure	29.6	14.9	10.6	+98.5%
Free cash flow	286	390	214	-26.8%
Free cash flow margin	12.6%	19.3%	11.9%
Cash from investing	-97.0	-90.7	-53.3
Cash from financing	-149	-147	-233
Depreciation and amortisation	81.4	80.4	75.1	+1.3%
Buybacks	262	115	104	+128.8%
Dividends paid	34.2	17.4	14.9	+96.6%
Dividend per share	$0.07	$0.04	$0.04	+75.0%
Diluted shares, weighted	479m	490m	499m	-2.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	899	885	670	+1.5%
Non-controlling interest	181	13.1	63.6	+1,282.5%
Redeemable equity	0.0	0.0	15.5
Debt	1,338	1,184	1,051	+13.0%
Other liabilities	1,175	1,094	1,275	+7.4%
Total liabilities and equity	3,592	3,176	3,075	+13.1%
Goodwill	540	506	487	+6.7%
Intangible assets	241	211	193	+14.0%
Cash and equivalents	712	656	485	+8.5%
Other assets	2,099	1,803	1,911	+16.4%
Total assets	3,592	3,176	3,075	+13.1%

10-K for the year ended 31 December 2024, filed 3 March 2025: the filing.