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BGC Group, Inc.（BGC）与Forge Global Holdings, Inc.（FRGE）财务数据对比。点击上方公司名可切换其他公司
BGC Group, Inc.的季度营收约是Forge Global Holdings, Inc.的30.0倍（$638.6M vs $21.3M）。BGC Group, Inc.净利率更高（2.3% vs -85.7%，领先88.0%）。BGC Group, Inc.同比增速更快（34.4% vs 10.6%）。BGC Group, Inc.自由现金流更多（$175.1M vs $-11.4M）。过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 5.6%）
BGC集团是一家总部位于纽约和伦敦的美国全球性金融服务企业，最初隶属于康托·菲茨杰拉德集团，2004年正式独立运营，业务范围覆盖全球金融市场相关服务领域。
该公司原本信息存在混淆，此处对应描述中的巴拉特锻造是一家印度跨国企业，业务涵盖锻造、汽车、能源、建筑采矿、铁路、船舶、航空航天和国防等多个领域，是印度工业领域颇具影响力的核心制造企业。
BGC vs FRGE — 直观对比
营收规模更大
BGC
是对方的30.0倍
$21.3M
营收增速更快
BGC
高出23.8%
10.6%
净利率更高
BGC
高出88.0%
-85.7%
自由现金流更多
BGC
多$186.5M
$-11.4M
两年增速更快
BGC
近两年复合增速
5.6%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $21.3M |
| 净利润 | $14.4M | $-18.2M |
| 毛利率 | — | 98.6% |
| 营业利润率 | 3.9% | -96.7% |
| 净利率 | 2.3% | -85.7% |
| 营收同比 | 34.4% | 10.6% |
| 净利润同比 | -43.0% | 0.6% |
| 每股收益（稀释后） | $0.03 | $-1.37 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BGCFRGE
| Q4 25 | $638.6M | — | ||
| Q3 25 | $620.8M | $21.3M | ||
| Q2 25 | $648.0M | $27.7M | ||
| Q1 25 | $534.6M | $25.3M | ||
| Q4 24 | $475.2M | $18.6M | ||
| Q3 24 | $448.9M | $19.2M | ||
| Q2 24 | $435.0M | $22.3M | ||
| Q1 24 | $453.6M | $19.2M |
净利润BGCFRGE
| Q4 25 | $14.4M | — | ||
| Q3 25 | $27.9M | $-18.2M | ||
| Q2 25 | $57.5M | $-12.6M | ||
| Q1 25 | $55.2M | $-16.2M | ||
| Q4 24 | $25.2M | $-15.6M | ||
| Q3 24 | $14.7M | $-18.3M | ||
| Q2 24 | $37.8M | $-13.7M | ||
| Q1 24 | $49.2M | $-18.6M |
毛利率BGCFRGE
| Q4 25 | — | — | ||
| Q3 25 | — | 98.6% | ||
| Q2 25 | — | 99.4% | ||
| Q1 25 | — | 99.2% | ||
| Q4 24 | — | 98.3% | ||
| Q3 24 | — | 99.6% | ||
| Q2 24 | — | 98.9% | ||
| Q1 24 | — | 99.8% |
营业利润率BGCFRGE
| Q4 25 | 3.9% | — | ||
| Q3 25 | 5.4% | -96.7% | ||
| Q2 25 | 11.6% | -46.3% | ||
| Q1 25 | 15.0% | -65.1% | ||
| Q4 24 | 5.7% | -100.6% | ||
| Q3 24 | 4.4% | -108.8% | ||
| Q2 24 | 12.7% | -79.2% | ||
| Q1 24 | 15.7% | -130.0% |
净利率BGCFRGE
| Q4 25 | 2.3% | — | ||
| Q3 25 | 4.5% | -85.7% | ||
| Q2 25 | 8.9% | -45.4% | ||
| Q1 25 | 10.3% | -63.9% | ||
| Q4 24 | 5.3% | -84.2% | ||
| Q3 24 | 3.3% | -95.5% | ||
| Q2 24 | 8.7% | -61.6% | ||
| Q1 24 | 10.8% | -96.8% |
每股收益（稀释后）BGCFRGE
| Q4 25 | $0.03 | — | ||
| Q3 25 | $0.06 | $-1.37 | ||
| Q2 25 | $0.11 | $-1.01 | ||
| Q1 25 | $0.11 | $-1.29 | ||
| Q4 24 | $0.04 | $3.81 | ||
| Q3 24 | $0.03 | $-1.49 | ||
| Q2 24 | $0.08 | $-1.13 | ||
| Q1 24 | $0.10 | $-1.55 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $851.5M | $60.7M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $202.6M |
| 总资产 | $4.4B | $252.0M |
| 负债/权益比越低杠杆越低 | 1.58× | — |
8季度趋势，按日历期对齐
现金及短期投资BGCFRGE
| Q4 25 | $851.5M | — | ||
| Q3 25 | $774.9M | $60.7M | ||
| Q2 25 | $827.8M | $80.7M | ||
| Q1 25 | $966.4M | $92.0M | ||
| Q4 24 | $711.6M | $105.1M | ||
| Q3 24 | $563.5M | $114.5M | ||
| Q2 24 | $571.7M | $120.5M | ||
| Q1 24 | $566.8M | $129.6M |
总债务BGCFRGE
| 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 | — |
股东权益BGCFRGE
| Q4 25 | $972.5M | — | ||
| Q3 25 | $965.3M | $202.6M | ||
| Q2 25 | $930.5M | $200.5M | ||
| Q1 25 | $963.8M | $213.5M | ||
| Q4 24 | $898.5M | $223.6M | ||
| Q3 24 | $860.1M | $234.5M | ||
| Q2 24 | $858.1M | $245.4M | ||
| Q1 24 | $912.1M | $252.2M |
总资产BGCFRGE
| Q4 25 | $4.4B | — | ||
| Q3 25 | $5.8B | $252.0M | ||
| Q2 25 | $4.9B | $242.8M | ||
| Q1 25 | $4.9B | $249.5M | ||
| Q4 24 | $3.6B | $263.5M | ||
| Q3 24 | $4.4B | $276.6M | ||
| Q2 24 | $4.3B | $285.7M | ||
| Q1 24 | $4.4B | $298.7M |
负债/权益比BGCFRGE
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $180.4M | $-11.4M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $-11.4M |
| 自由现金流率自由现金流/营收 | 27.4% | -53.6% |
| 资本支出强度资本支出/营收 | 0.8% | 0.2% |
| 现金转化率经营现金流/净利润 | 12.55× | — |
| 过去12个月自由现金流最近4个季度 | $372.9M | — |
8季度趋势，按日历期对齐
经营现金流BGCFRGE
| Q4 25 | $180.4M | — | ||
| Q3 25 | $141.9M | $-11.4M | ||
| Q2 25 | $71.2M | $-7.8M | ||
| Q1 25 | $839.0K | $-12.8M | ||
| Q4 24 | $251.9M | $-7.9M | ||
| Q3 24 | $88.3M | $-5.8M | ||
| Q2 24 | $-53.0M | $-14.4M | ||
| Q1 24 | $28.1M | $-12.4M |
自由现金流BGCFRGE
| Q4 25 | $175.1M | — | ||
| Q3 25 | $137.2M | $-11.4M | ||
| Q2 25 | $65.0M | $-7.9M | ||
| Q1 25 | $-4.4M | $-12.9M | ||
| Q4 24 | $245.6M | — | ||
| Q3 24 | $78.8M | $-6.0M | ||
| Q2 24 | $-63.5M | $-14.7M | ||
| Q1 24 | $24.9M | $-12.8M |
自由现金流率BGCFRGE
| Q4 25 | 27.4% | — | ||
| Q3 25 | 22.1% | -53.6% | ||
| Q2 25 | 10.0% | -28.4% | ||
| Q1 25 | -0.8% | -50.9% | ||
| Q4 24 | 51.7% | — | ||
| Q3 24 | 17.5% | -31.0% | ||
| Q2 24 | -14.6% | -66.0% | ||
| Q1 24 | 5.5% | -66.4% |
资本支出强度BGCFRGE
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.8% | 0.2% | ||
| Q2 25 | 1.0% | 0.4% | ||
| Q1 25 | 1.0% | 0.2% | ||
| Q4 24 | 1.3% | 0.0% | ||
| Q3 24 | 2.1% | 0.7% | ||
| Q2 24 | 2.4% | 1.2% | ||
| Q1 24 | 0.7% | 2.1% |
现金转化率BGCFRGE
| Q4 25 | 12.55× | — | ||
| Q3 25 | 5.09× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 9.99× | — | ||
| Q3 24 | 5.99× | — | ||
| Q2 24 | -1.40× | — | ||
| Q1 24 | 0.57× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
FRGE
| Marketplace | $12.2M | 57% |
| Custodial Administration Fees | $9.1M | 43% |
