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BGC Group, Inc.（BGC）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是BGC Group, Inc.的1.9倍（$1.2B vs $638.6M），利氏兄弟拍卖行净利率更高（9.1% vs 2.3%，领先6.9%），BGC Group, Inc.同比增速更快（34.4% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $175.1M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
BGC vs RBA — 直观对比
营收规模更大
RBA
是对方的1.9倍
$638.6M
营收增速更快
BGC
高出29.0%
5.4%
净利率更高
RBA
高出6.9%
2.3%
自由现金流更多
RBA
多$11.4M
$175.1M
两年增速更快
BGC
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $1.2B |
| 净利润 | $14.4M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 3.9% | 14.7% |
| 净利率 | 2.3% | 9.1% |
| 营收同比 | 34.4% | 5.4% |
| 净利润同比 | -43.0% | -7.4% |
| 每股收益（稀释后） | $0.03 | $0.53 |
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BGCRBA
| Q4 25 | $638.6M | $1.2B | ||
| Q3 25 | $620.8M | $1.1B | ||
| Q2 25 | $648.0M | $1.2B | ||
| Q1 25 | $534.6M | $1.1B | ||
| Q4 24 | $475.2M | $1.1B | ||
| Q3 24 | $448.9M | $981.8M | ||
| Q2 24 | $435.0M | $1.1B | ||
| Q1 24 | $453.6M | $1.1B |
净利润BGCRBA
| Q4 25 | $14.4M | $109.7M | ||
| Q3 25 | $27.9M | $95.5M | ||
| Q2 25 | $57.5M | $109.8M | ||
| Q1 25 | $55.2M | $113.4M | ||
| Q4 24 | $25.2M | $118.5M | ||
| Q3 24 | $14.7M | $76.1M | ||
| Q2 24 | $37.8M | $111.1M | ||
| Q1 24 | $49.2M | $107.4M |
营业利润率BGCRBA
| Q4 25 | 3.9% | 14.7% | ||
| Q3 25 | 5.4% | 14.5% | ||
| Q2 25 | 11.6% | 15.9% | ||
| Q1 25 | 15.0% | 17.1% | ||
| Q4 24 | 5.7% | 18.1% | ||
| Q3 24 | 4.4% | 15.6% | ||
| Q2 24 | 12.7% | 18.4% | ||
| Q1 24 | 15.7% | 18.7% |
净利率BGCRBA
| Q4 25 | 2.3% | 9.1% | ||
| Q3 25 | 4.5% | 8.7% | ||
| Q2 25 | 8.9% | 9.3% | ||
| Q1 25 | 10.3% | 10.2% | ||
| Q4 24 | 5.3% | 10.4% | ||
| Q3 24 | 3.3% | 7.8% | ||
| Q2 24 | 8.7% | 10.1% | ||
| Q1 24 | 10.8% | 10.1% |
每股收益（稀释后）BGCRBA
| Q4 25 | $0.03 | $0.53 | ||
| Q3 25 | $0.06 | $0.43 | ||
| Q2 25 | $0.11 | $0.53 | ||
| Q1 25 | $0.11 | $0.55 | ||
| Q4 24 | $0.04 | $0.58 | ||
| Q3 24 | $0.03 | $0.36 | ||
| Q2 24 | $0.08 | $0.54 | ||
| Q1 24 | $0.10 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $1.5B | $2.3B |
| 股东权益账面价值 | $972.5M | $5.6B |
| 总资产 | $4.4B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.58× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资BGCRBA
| Q4 25 | $851.5M | $531.5M | ||
| Q3 25 | $774.9M | $674.7M | ||
| Q2 25 | $827.8M | $710.2M | ||
| Q1 25 | $966.4M | $578.1M | ||
| Q4 24 | $711.6M | $533.9M | ||
| Q3 24 | $563.5M | $650.7M | ||
| Q2 24 | $571.7M | $599.5M | ||
| Q1 24 | $566.8M | $462.8M |
总债务BGCRBA
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.8B | $2.6B | ||
| Q2 25 | $1.8B | $2.6B | ||
| Q1 25 | $1.1B | $2.6B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.4B | $2.7B | ||
| Q2 24 | $1.4B | $2.8B | ||
| Q1 24 | $945.0M | $2.9B |
股东权益BGCRBA
| Q4 25 | $972.5M | $5.6B | ||
| Q3 25 | $965.3M | $5.5B | ||
| Q2 25 | $930.5M | $5.5B | ||
| Q1 25 | $963.8M | $5.3B | ||
| Q4 24 | $898.5M | $5.2B | ||
| Q3 24 | $860.1M | $5.2B | ||
| Q2 24 | $858.1M | $5.2B | ||
| Q1 24 | $912.1M | $5.1B |
总资产BGCRBA
| Q4 25 | $4.4B | $12.1B | ||
| Q3 25 | $5.8B | $12.2B | ||
| Q2 25 | $4.9B | $12.2B | ||
| Q1 25 | $4.9B | $11.9B | ||
| Q4 24 | $3.6B | $11.8B | ||
| Q3 24 | $4.4B | $11.9B | ||
| Q2 24 | $4.3B | $12.1B | ||
| Q1 24 | $4.4B | $12.0B |
负债/权益比BGCRBA
| Q4 25 | 1.58× | 0.42× | ||
| Q3 25 | 1.90× | 0.47× | ||
| Q2 25 | 1.97× | 0.47× | ||
| Q1 25 | 1.19× | 0.50× | ||
| Q4 24 | 1.27× | 0.50× | ||
| Q3 24 | 1.68× | 0.52× | ||
| Q2 24 | 1.68× | 0.55× | ||
| Q1 24 | 1.04× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $186.5M |
| 自由现金流率自由现金流/营收 | 27.4% | 15.5% |
| 资本支出强度资本支出/营收 | 0.8% | 5.7% |
| 现金转化率经营现金流/净利润 | 12.55× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $372.9M | $719.2M |
8季度趋势，按日历期对齐
经营现金流BGCRBA
| Q4 25 | $180.4M | $255.2M | ||
| Q3 25 | $141.9M | $239.7M | ||
| Q2 25 | $71.2M | $326.5M | ||
| Q1 25 | $839.0K | $156.8M | ||
| Q4 24 | $251.9M | $184.5M | ||
| Q3 24 | $88.3M | $285.4M | ||
| Q2 24 | $-53.0M | $337.3M | ||
| Q1 24 | $28.1M | $124.8M |
自由现金流BGCRBA
| Q4 25 | $175.1M | $186.5M | ||
| Q3 25 | $137.2M | $188.5M | ||
| Q2 25 | $65.0M | $241.7M | ||
| Q1 25 | $-4.4M | $102.5M | ||
| Q4 24 | $245.6M | $127.9M | ||
| Q3 24 | $78.8M | $248.5M | ||
| Q2 24 | $-63.5M | $308.6M | ||
| Q1 24 | $24.9M | $79.6M |
自由现金流率BGCRBA
| Q4 25 | 27.4% | 15.5% | ||
| Q3 25 | 22.1% | 17.3% | ||
| Q2 25 | 10.0% | 20.4% | ||
| Q1 25 | -0.8% | 9.2% | ||
| Q4 24 | 51.7% | 11.2% | ||
| Q3 24 | 17.5% | 25.3% | ||
| Q2 24 | -14.6% | 28.2% | ||
| Q1 24 | 5.5% | 7.5% |
资本支出强度BGCRBA
| Q4 25 | 0.8% | 5.7% | ||
| Q3 25 | 0.8% | 4.7% | ||
| Q2 25 | 1.0% | 7.2% | ||
| Q1 25 | 1.0% | 4.9% | ||
| Q4 24 | 1.3% | 5.0% | ||
| Q3 24 | 2.1% | 3.8% | ||
| Q2 24 | 2.4% | 2.6% | ||
| Q1 24 | 0.7% | 4.2% |
现金转化率BGCRBA
| Q4 25 | 12.55× | 2.33× | ||
| Q3 25 | 5.09× | 2.51× | ||
| Q2 25 | 1.24× | 2.97× | ||
| Q1 25 | 0.02× | 1.38× | ||
| Q4 24 | 9.99× | 1.56× | ||
| Q3 24 | 5.99× | 3.75× | ||
| Q2 24 | -1.40× | 3.04× | ||
| Q1 24 | 0.57× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
