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BGC Group, Inc.（BGC）とTradeweb Markets Inc.（TW）の財務データ比較。上の社名をクリックして会社を切り替えられます
BGC Group, Inc.の直近四半期売上が大きい（$638.6M vs $521.2M、Tradeweb Markets Inc.の約1.2倍）。Tradeweb Markets Inc.の純利益率が高く（62.4% vs 2.3%、差は60.1%）。BGC Group, Inc.の前年同期比売上増加率が高い（34.4% vs 12.5%）。Tradeweb Markets Inc.の直近四半期フリーキャッシュフローが多い（$336.5M vs $175.1M）。過去8四半期でBGC Group, Inc.の売上複合成長率が高い（18.7% vs 12.9%）
BGCグループはニューヨークとロンドンに本社を置く米国のグローバル金融サービス企業です。元々は大手金融会社カンター・フィッツジェラルドの一部門として設立され、2004年に独立した事業体となりました。
Tradeweb Markets Inc.はニューヨークに本社を置き、主に機関投資家向けに債券、ETF、デリバティブ取引に対応した電子取引プラットフォームを運営している。銀行、資産運用会社、中央銀行、年金基金、保険会社など3000社以上の顧客を抱え、2024年の収入の83%は取引手数料、17%はサブスクリプション料金で、52%が金利関連商品によるものだ。
BGC vs TW — 直接比較
損益計算書 — Q4 2025 vs Q4 2025
| 指標 | | |
|---|---|---|
| 売上 | $638.6M | $521.2M |
| 純利益 | $14.4M | $325.0M |
| 粗利率 | — | — |
| 営業利益率 | 3.9% | 42.4% |
| 純利益率 | 2.3% | 62.4% |
| 売上前年比 | 34.4% | 12.5% |
| 純利益前年比 | -43.0% | 128.5% |
| EPS（希薄化後） | $0.03 | $1.52 |
緑 = その指標でリード。会計年度がずれている場合は期間が異なる場合あり
8四半期 売上・利益トレンド
並べて比較する四半期履歴。決算期がずれていても暦四半期で整列
| Q4 25 | $638.6M | $521.2M | ||
| Q3 25 | $620.8M | $508.6M | ||
| Q2 25 | $648.0M | $513.0M | ||
| Q1 25 | $534.6M | $509.7M | ||
| Q4 24 | $475.2M | $463.3M | ||
| Q3 24 | $448.9M | $448.9M | ||
| Q2 24 | $435.0M | $405.0M | ||
| Q1 24 | $453.6M | $408.7M |
| Q4 25 | $14.4M | $325.0M | ||
| Q3 25 | $27.9M | $185.6M | ||
| Q2 25 | $57.5M | $153.8M | ||
| Q1 25 | $55.2M | $148.4M | ||
| Q4 24 | $25.2M | $142.2M | ||
| Q3 24 | $14.7M | $113.9M | ||
| Q2 24 | $37.8M | $119.2M | ||
| Q1 24 | $49.2M | $126.1M |
| Q4 25 | 3.9% | 42.4% | ||
| Q3 25 | 5.4% | 41.4% | ||
| Q2 25 | 11.6% | 39.0% | ||
| Q1 25 | 15.0% | 40.0% | ||
| Q4 24 | 5.7% | 40.7% | ||
| Q3 24 | 4.4% | 35.5% | ||
| Q2 24 | 12.7% | 40.1% | ||
| Q1 24 | 15.7% | 41.0% |
| Q4 25 | 2.3% | 62.4% | ||
| Q3 25 | 4.5% | 36.5% | ||
| Q2 25 | 8.9% | 30.0% | ||
| Q1 25 | 10.3% | 29.1% | ||
| Q4 24 | 5.3% | 30.7% | ||
| Q3 24 | 3.3% | 25.4% | ||
| Q2 24 | 8.7% | 29.4% | ||
| Q1 24 | 10.8% | 30.9% |
| Q4 25 | $0.03 | $1.52 | ||
| Q3 25 | $0.06 | $0.86 | ||
| Q2 25 | $0.11 | $0.71 | ||
| Q1 25 | $0.11 | $0.69 | ||
| Q4 24 | $0.04 | $0.66 | ||
| Q3 24 | $0.03 | $0.53 | ||
| Q2 24 | $0.08 | $0.55 | ||
| Q1 24 | $0.10 | $0.59 |
貸借対照表と財務力
直近四半期の流動性・レバレッジ・純資産のスナップショット
| 指標 | | |
|---|---|---|
| 現金・短期投資手元流動性 | $851.5M | $2.1B |
| 総負債低いほど良い | $1.5B | — |
| 株主資本純資産 | $972.5M | $6.5B |
| 総資産 | $4.4B | $8.2B |
| 負債/資本比率低いほどレバレッジが低い | 1.58× | — |
8四半期トレンド — 暦四半期で整列
| Q4 25 | $851.5M | $2.1B | ||
| Q3 25 | $774.9M | $1.9B | ||
| Q2 25 | $827.8M | $1.6B | ||
| Q1 25 | $966.4M | $1.3B | ||
| Q4 24 | $711.6M | $1.3B | ||
| Q3 24 | $563.5M | $1.2B | ||
| Q2 24 | $571.7M | $1.7B | ||
| Q1 24 | $566.8M | $1.5B |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $945.0M | — |
| Q4 25 | $972.5M | $6.5B | ||
| Q3 25 | $965.3M | $6.3B | ||
| Q2 25 | $930.5M | $6.1B | ||
| Q1 25 | $963.8M | $5.9B | ||
| Q4 24 | $898.5M | $5.8B | ||
| Q3 24 | $860.1M | $5.7B | ||
| Q2 24 | $858.1M | $5.6B | ||
| Q1 24 | $912.1M | $5.5B |
| Q4 25 | $4.4B | $8.2B | ||
| Q3 25 | $5.8B | $8.0B | ||
| Q2 25 | $4.9B | $8.1B | ||
| Q1 25 | $4.9B | $7.4B | ||
| Q4 24 | $3.6B | $7.3B | ||
| Q3 24 | $4.4B | $7.3B | ||
| Q2 24 | $4.3B | $7.3B | ||
| Q1 24 | $4.4B | $7.4B |
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 1.97× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 1.68× | — | ||
| Q1 24 | 1.04× | — |
キャッシュフローと資本効率
再投資後に実際に生み出すキャッシュ。純利益より操作が難しい
| 指標 | | |
|---|---|---|
| 営業キャッシュフロー直近四半期 | $180.4M | $355.9M |
| フリーキャッシュフロー営業CF - 設備投資 | $175.1M | $336.5M |
| FCFマージンFCF / 売上 | 27.4% | 64.6% |
| 設備投資強度設備投資 / 売上 | 0.8% | 3.7% |
| キャッシュ転換率営業CF / 純利益 | 12.55× | 1.10× |
| 直近12ヶ月FCF直近4四半期 | $372.9M | $1.1B |
8四半期トレンド — 暦四半期で整列
| Q4 25 | $180.4M | $355.9M | ||
| Q3 25 | $141.9M | $342.3M | ||
| Q2 25 | $71.2M | $409.2M | ||
| Q1 25 | $839.0K | $60.2M | ||
| Q4 24 | $251.9M | $282.0M | ||
| Q3 24 | $88.3M | $292.1M | ||
| Q2 24 | $-53.0M | $285.7M | ||
| Q1 24 | $28.1M | $37.9M |
| Q4 25 | $175.1M | $336.5M | ||
| Q3 25 | $137.2M | $328.3M | ||
| Q2 25 | $65.0M | $403.7M | ||
| Q1 25 | $-4.4M | $58.6M | ||
| Q4 24 | $245.6M | $256.8M | ||
| Q3 24 | $78.8M | $287.8M | ||
| Q2 24 | $-63.5M | $280.8M | ||
| Q1 24 | $24.9M | $31.3M |
| Q4 25 | 27.4% | 64.6% | ||
| Q3 25 | 22.1% | 64.5% | ||
| Q2 25 | 10.0% | 78.7% | ||
| Q1 25 | -0.8% | 11.5% | ||
| Q4 24 | 51.7% | 55.4% | ||
| Q3 24 | 17.5% | 64.1% | ||
| Q2 24 | -14.6% | 69.4% | ||
| Q1 24 | 5.5% | 7.7% |
| Q4 25 | 0.8% | 3.7% | ||
| Q3 25 | 0.8% | 2.8% | ||
| Q2 25 | 1.0% | 1.1% | ||
| Q1 25 | 1.0% | 0.3% | ||
| Q4 24 | 1.3% | 5.4% | ||
| Q3 24 | 2.1% | 1.0% | ||
| Q2 24 | 2.4% | 1.2% | ||
| Q1 24 | 0.7% | 1.6% |
| Q4 25 | 12.55× | 1.10× | ||
| Q3 25 | 5.09× | 1.84× | ||
| Q2 25 | 1.24× | 2.66× | ||
| Q1 25 | 0.02× | 0.41× | ||
| Q4 24 | 9.99× | 1.98× | ||
| Q3 24 | 5.99× | 2.56× | ||
| Q2 24 | -1.40× | 2.40× | ||
| Q1 24 | 0.57× | 0.30× |
財務フロー比較
売上 → 粗利 → 営業利益 → 純利益のサンキー図
セグメント別売上内訳
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
TW
| Other | $235.2M | 45% |
| Wholesale Client Sector | $97.9M | 19% |
| Subscription Fee Revenue | $60.0M | 12% |
| Retail Client Sector | $35.0M | 7% |
| Market Data Client Sector | $33.8M | 6% |
| Corporate Client Sector | $26.1M | 5% |
| Market Data Revenue | $23.2M | 4% |
| Financial Service Other | $10.0M | 2% |
