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BGC Group, Inc.（BGC）与Freedom Holding Corp.（FRHC）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Freedom Holding Corp.的1.0倍（$638.6M vs $628.6M），Freedom Holding Corp.净利率更高（12.1% vs 2.3%，领先9.9%），BGC Group, Inc.同比增速更快（34.4% vs -4.1%），Freedom Holding Corp.自由现金流更多（$651.7M vs $175.1M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 16.3%）
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。
Freedom Holding Corp.是在美国内华达州注册的投资集团，业务覆盖零售证券经纪交易、资产管理、资本市场服务、投研咨询、投行承销、抵押贷款、保险、银行及其他消费金融服务，核心布局美股、欧洲及以哈萨克斯坦为核心的中亚市场。
BGC vs FRHC — 直观对比
营收规模更大
BGC
是对方的1.0倍
$628.6M
营收增速更快
BGC
高出38.4%
-4.1%
净利率更高
FRHC
高出9.9%
2.3%
自由现金流更多
FRHC
多$476.6M
$175.1M
两年增速更快
BGC
近两年复合增速
16.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $628.6M |
| 净利润 | $14.4M | $76.2M |
| 毛利率 | — | 96.0% |
| 营业利润率 | 3.9% | 14.9% |
| 净利率 | 2.3% | 12.1% |
| 营收同比 | 34.4% | -4.1% |
| 净利润同比 | -43.0% | -2.6% |
| 每股收益（稀释后） | $0.03 | $1.25 |
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BGCFRHC
| Q4 25 | $638.6M | $628.6M | ||
| Q3 25 | $620.8M | $526.1M | ||
| Q2 25 | $648.0M | $533.4M | ||
| Q1 25 | $534.6M | $363.7M | ||
| Q4 24 | $475.2M | $655.2M | ||
| Q3 24 | $448.9M | $580.9M | ||
| Q2 24 | $435.0M | $450.7M | ||
| Q1 24 | $453.6M | $464.7M |
净利润BGCFRHC
| Q4 25 | $14.4M | $76.2M | ||
| Q3 25 | $27.9M | $38.7M | ||
| Q2 25 | $57.5M | $30.4M | ||
| Q1 25 | $55.2M | $-142.7M | ||
| Q4 24 | $25.2M | $78.3M | ||
| Q3 24 | $14.7M | $114.7M | ||
| Q2 24 | $37.8M | $34.4M | ||
| Q1 24 | $49.2M | $95.2M |
毛利率BGCFRHC
| Q4 25 | — | 96.0% | ||
| Q3 25 | — | 97.1% | ||
| Q2 25 | — | 97.4% | ||
| Q1 25 | — | 96.6% | ||
| Q4 24 | — | 98.6% | ||
| Q3 24 | — | 99.1% | ||
| Q2 24 | — | 99.0% | ||
| Q1 24 | — | — |
营业利润率BGCFRHC
| Q4 25 | 3.9% | 14.9% | ||
| Q3 25 | 5.4% | 11.5% | ||
| Q2 25 | 11.6% | 7.6% | ||
| Q1 25 | 15.0% | -42.7% | ||
| Q4 24 | 5.7% | 15.0% | ||
| Q3 24 | 4.4% | 22.1% | ||
| Q2 24 | 12.7% | 9.2% | ||
| Q1 24 | 15.7% | 22.5% |
净利率BGCFRHC
| Q4 25 | 2.3% | 12.1% | ||
| Q3 25 | 4.5% | 7.4% | ||
| Q2 25 | 8.9% | 5.7% | ||
| Q1 25 | 10.3% | -39.2% | ||
| Q4 24 | 5.3% | 11.9% | ||
| Q3 24 | 3.3% | 19.7% | ||
| Q2 24 | 8.7% | 7.6% | ||
| Q1 24 | 10.8% | 20.5% |
每股收益（稀释后）BGCFRHC
| Q4 25 | $0.03 | $1.25 | ||
| Q3 25 | $0.06 | $0.63 | ||
| Q2 25 | $0.11 | $0.50 | ||
| Q1 25 | $0.11 | $-2.35 | ||
| Q4 24 | $0.04 | $1.29 | ||
| Q3 24 | $0.03 | $1.89 | ||
| Q2 24 | $0.08 | $0.57 | ||
| Q1 24 | $0.10 | $1.60 |
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 | $869.2M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $1.4B |
| 总资产 | $4.4B | $12.4B |
| 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BGCFRHC
| Q4 25 | $851.5M | $869.2M | ||
| Q3 25 | $774.9M | $636.0M | ||
| Q2 25 | $827.8M | $567.9M | ||
| Q1 25 | $966.4M | $837.3M | ||
| Q4 24 | $711.6M | $577.9M | ||
| Q3 24 | $563.5M | $569.2M | ||
| Q2 24 | $571.7M | $718.7M | ||
| Q1 24 | $566.8M | $545.1M |
总债务BGCFRHC
| 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BGCFRHC
| Q4 25 | $972.5M | $1.4B | ||
| Q3 25 | $965.3M | $1.2B | ||
| Q2 25 | $930.5M | $1.2B | ||
| Q1 25 | $963.8M | $1.2B | ||
| Q4 24 | $898.5M | $1.3B | ||
| Q3 24 | $860.1M | $1.3B | ||
| Q2 24 | $858.1M | $1.1B | ||
| Q1 24 | $912.1M | $1.2B |
总资产BGCFRHC
| Q4 25 | $4.4B | $12.4B | ||
| Q3 25 | $5.8B | $10.3B | ||
| Q2 25 | $4.9B | $9.7B | ||
| Q1 25 | $4.9B | $9.9B | ||
| Q4 24 | $3.6B | $9.1B | ||
| Q3 24 | $4.4B | $8.8B | ||
| Q2 24 | $4.3B | $8.5B | ||
| Q1 24 | $4.4B | $8.3B |
负债/权益比BGCFRHC
| 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 | $717.8M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $651.7M |
| 自由现金流率自由现金流/营收 | 27.4% | 103.7% |
| 资本支出强度资本支出/营收 | 0.8% | 10.5% |
| 现金转化率经营现金流/净利润 | 12.55× | 9.42× |
| 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BGCFRHC
| Q4 25 | $180.4M | $717.8M | ||
| Q3 25 | $141.9M | $535.3M | ||
| Q2 25 | $71.2M | $480.8M | ||
| Q1 25 | $839.0K | $1.3B | ||
| Q4 24 | $251.9M | $-72.8M | ||
| Q3 24 | $88.3M | $-438.0M | ||
| Q2 24 | $-53.0M | $854.1M | ||
| Q1 24 | $28.1M | $309.0M |
自由现金流BGCFRHC
| Q4 25 | $175.1M | $651.7M | ||
| Q3 25 | $137.2M | $456.4M | ||
| Q2 25 | $65.0M | $450.0M | ||
| Q1 25 | $-4.4M | — | ||
| Q4 24 | $245.6M | $-92.7M | ||
| Q3 24 | $78.8M | $-447.5M | ||
| Q2 24 | $-63.5M | $829.9M | ||
| Q1 24 | $24.9M | — |
自由现金流率BGCFRHC
| Q4 25 | 27.4% | 103.7% | ||
| Q3 25 | 22.1% | 86.7% | ||
| Q2 25 | 10.0% | 84.4% | ||
| Q1 25 | -0.8% | — | ||
| Q4 24 | 51.7% | -14.1% | ||
| Q3 24 | 17.5% | -77.0% | ||
| Q2 24 | -14.6% | 184.1% | ||
| Q1 24 | 5.5% | — |
资本支出强度BGCFRHC
| Q4 25 | 0.8% | 10.5% | ||
| Q3 25 | 0.8% | 15.0% | ||
| Q2 25 | 1.0% | 5.8% | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 1.3% | 3.0% | ||
| Q3 24 | 2.1% | 1.6% | ||
| Q2 24 | 2.4% | 5.4% | ||
| Q1 24 | 0.7% | — |
现金转化率BGCFRHC
| Q4 25 | 12.55× | 9.42× | ||
| Q3 25 | 5.09× | 13.82× | ||
| Q2 25 | 1.24× | 15.82× | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 9.99× | -0.93× | ||
| Q3 24 | 5.99× | -3.82× | ||
| Q2 24 | -1.40× | 24.83× | ||
| Q1 24 | 0.57× | 3.24× |
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% |
FRHC
暂无分部数据
