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BGC Group, Inc.（BGC）与UiPath, Inc.（PATH）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UiPath, Inc.的1.6倍（$638.6M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 2.3%，领先46.1%），BGC Group, Inc.同比增速更快（34.4% vs 15.9%），BGC Group, Inc.自由现金流更多（$175.1M vs $25.1M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 0.7%）
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。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
BGC vs PATH — 直观对比
营收规模更大
BGC
是对方的1.6倍
$411.1M
营收增速更快
BGC
高出18.5%
15.9%
净利率更高
PATH
高出46.1%
2.3%
自由现金流更多
BGC
多$150.0M
$25.1M
两年增速更快
BGC
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $411.1M |
| 净利润 | $14.4M | $198.8M |
| 毛利率 | — | 83.3% |
| 营业利润率 | 3.9% | 3.2% |
| 净利率 | 2.3% | 48.4% |
| 营收同比 | 34.4% | 15.9% |
| 净利润同比 | -43.0% | 1966.2% |
| 每股收益（稀释后） | $0.03 | $0.37 |
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BGCPATH
| Q4 25 | $638.6M | $411.1M | ||
| Q3 25 | $620.8M | $361.7M | ||
| Q2 25 | $648.0M | $356.6M | ||
| Q1 25 | $534.6M | $423.6M | ||
| Q4 24 | $475.2M | $354.7M | ||
| Q3 24 | $448.9M | $316.3M | ||
| Q2 24 | $435.0M | $335.1M | ||
| Q1 24 | $453.6M | $405.3M |
净利润BGCPATH
| Q4 25 | $14.4M | $198.8M | ||
| Q3 25 | $27.9M | $1.6M | ||
| Q2 25 | $57.5M | $-22.6M | ||
| Q1 25 | $55.2M | $51.8M | ||
| Q4 24 | $25.2M | $-10.7M | ||
| Q3 24 | $14.7M | $-86.1M | ||
| Q2 24 | $37.8M | $-28.7M | ||
| Q1 24 | $49.2M | $33.9M |
毛利率BGCPATH
| Q4 25 | — | 83.3% | ||
| Q3 25 | — | 82.2% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 84.8% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.0% | ||
| Q2 24 | — | 83.5% | ||
| Q1 24 | — | 86.8% |
营业利润率BGCPATH
| Q4 25 | 3.9% | 3.2% | ||
| Q3 25 | 5.4% | -5.6% | ||
| Q2 25 | 11.6% | -4.6% | ||
| Q1 25 | 15.0% | 7.9% | ||
| Q4 24 | 5.7% | -12.2% | ||
| Q3 24 | 4.4% | -32.7% | ||
| Q2 24 | 12.7% | -14.8% | ||
| Q1 24 | 15.7% | 3.7% |
净利率BGCPATH
| Q4 25 | 2.3% | 48.4% | ||
| Q3 25 | 4.5% | 0.4% | ||
| Q2 25 | 8.9% | -6.3% | ||
| Q1 25 | 10.3% | 12.2% | ||
| Q4 24 | 5.3% | -3.0% | ||
| Q3 24 | 3.3% | -27.2% | ||
| Q2 24 | 8.7% | -8.6% | ||
| Q1 24 | 10.8% | 8.4% |
每股收益（稀释后）BGCPATH
| Q4 25 | $0.03 | $0.37 | ||
| Q3 25 | $0.06 | $0.00 | ||
| Q2 25 | $0.11 | $-0.04 | ||
| Q1 25 | $0.11 | $0.09 | ||
| Q4 24 | $0.04 | $-0.02 | ||
| Q3 24 | $0.03 | $-0.15 | ||
| Q2 24 | $0.08 | $-0.05 | ||
| Q1 24 | $0.10 | $0.07 |
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 | $1.4B |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $1.9B |
| 总资产 | $4.4B | $2.9B |
| 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BGCPATH
| Q4 25 | $851.5M | $1.4B | ||
| Q3 25 | $774.9M | $1.4B | ||
| Q2 25 | $827.8M | $1.6B | ||
| Q1 25 | $966.4M | $1.6B | ||
| Q4 24 | $711.6M | $1.6B | ||
| Q3 24 | $563.5M | $1.7B | ||
| Q2 24 | $571.7M | $1.9B | ||
| Q1 24 | $566.8M | $1.9B |
总债务BGCPATH
| 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BGCPATH
| Q4 25 | $972.5M | $1.9B | ||
| Q3 25 | $965.3M | $1.7B | ||
| Q2 25 | $930.5M | $1.7B | ||
| Q1 25 | $963.8M | $1.8B | ||
| Q4 24 | $898.5M | $1.7B | ||
| Q3 24 | $860.1M | $1.8B | ||
| Q2 24 | $858.1M | $2.0B | ||
| Q1 24 | $912.1M | $2.0B |
总资产BGCPATH
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $5.8B | $2.6B | ||
| Q2 25 | $4.9B | $2.6B | ||
| Q1 25 | $4.9B | $2.9B | ||
| Q4 24 | $3.6B | $2.7B | ||
| Q3 24 | $4.4B | $2.7B | ||
| Q2 24 | $4.3B | $2.8B | ||
| Q1 24 | $4.4B | $3.0B |
负债/权益比BGCPATH
| 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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $25.1M |
| 自由现金流率自由现金流/营收 | 27.4% | 6.1% |
| 资本支出强度资本支出/营收 | 0.8% | 0.8% |
| 现金转化率经营现金流/净利润 | 12.55× | 0.14× |
| 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BGCPATH
| Q4 25 | $180.4M | $28.3M | ||
| Q3 25 | $141.9M | $41.6M | ||
| Q2 25 | $71.2M | $119.0M | ||
| Q1 25 | $839.0K | $146.1M | ||
| Q4 24 | $251.9M | $28.1M | ||
| Q3 24 | $88.3M | $46.4M | ||
| Q2 24 | $-53.0M | $100.0M | ||
| Q1 24 | $28.1M | $145.6M |
自由现金流BGCPATH
| Q4 25 | $175.1M | $25.1M | ||
| Q3 25 | $137.2M | — | ||
| Q2 25 | $65.0M | $106.2M | ||
| Q1 25 | $-4.4M | $138.7M | ||
| Q4 24 | $245.6M | $23.2M | ||
| Q3 24 | $78.8M | $45.0M | ||
| Q2 24 | $-63.5M | $98.8M | ||
| Q1 24 | $24.9M | $141.8M |
自由现金流率BGCPATH
| Q4 25 | 27.4% | 6.1% | ||
| Q3 25 | 22.1% | — | ||
| Q2 25 | 10.0% | 29.8% | ||
| Q1 25 | -0.8% | 32.7% | ||
| Q4 24 | 51.7% | 6.5% | ||
| Q3 24 | 17.5% | 14.2% | ||
| Q2 24 | -14.6% | 29.5% | ||
| Q1 24 | 5.5% | 35.0% |
资本支出强度BGCPATH
| Q4 25 | 0.8% | 0.8% | ||
| Q3 25 | 0.8% | 0.0% | ||
| Q2 25 | 1.0% | 3.6% | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 2.1% | 0.4% | ||
| Q2 24 | 2.4% | 0.4% | ||
| Q1 24 | 0.7% | 0.9% |
现金转化率BGCPATH
| Q4 25 | 12.55× | 0.14× | ||
| Q3 25 | 5.09× | 26.25× | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 0.02× | 2.82× | ||
| Q4 24 | 9.99× | — | ||
| Q3 24 | 5.99× | — | ||
| Q2 24 | -1.40× | — | ||
| Q1 24 | 0.57× | 4.29× |
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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
