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BGC Group, Inc.（BGC）与StoneX Group Inc.（SNEX）财务数据对比。点击上方公司名可切换其他公司
StoneX Group Inc.的季度营收约是BGC Group, Inc.的1.9倍（$1.2B vs $638.6M）。StoneX Group Inc.净利率更高（11.6% vs 2.3%，领先9.3%）。StoneX Group Inc.同比增速更快（81.0% vs 34.4%）。BGC Group, Inc.自由现金流更多（$175.1M vs $-1.3B）。过去两年StoneX Group Inc.的营收复合增速更高（53.5% vs 18.7%）
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。
StoneX集团是美国知名金融服务企业，核心业务覆盖商业套期保值、全球支付、证券、实物大宗商品、外汇，以及清算与执行服务六大板块，可为全球各类客户提供专业合规的多元化金融服务。
BGC vs SNEX — 直观对比
营收规模更大
SNEX
是对方的1.9倍
$638.6M
营收增速更快
SNEX
高出46.7%
34.4%
净利率更高
SNEX
高出9.3%
2.3%
自由现金流更多
BGC
多$1.5B
$-1.3B
两年增速更快
SNEX
近两年复合增速
18.7%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $1.2B |
| 净利润 | $14.4M | $139.0M |
| 毛利率 | — | — |
| 营业利润率 | 3.9% | 15.4% |
| 净利率 | 2.3% | 11.6% |
| 营收同比 | 34.4% | 81.0% |
| 净利润同比 | -43.0% | 63.3% |
| 每股收益（稀释后） | $0.03 | $2.50 |
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BGCSNEX
| Q4 25 | $638.6M | $1.2B | ||
| Q3 25 | $620.8M | $32.7B | ||
| Q2 25 | $648.0M | $851.2M | ||
| Q1 25 | $534.6M | $820.4M | ||
| Q4 24 | $475.2M | $663.1M | ||
| Q3 24 | $448.9M | $31.1B | ||
| Q2 24 | $435.0M | $571.8M | ||
| Q1 24 | $453.6M | $509.2M |
净利润BGCSNEX
| Q4 25 | $14.4M | $139.0M | ||
| Q3 25 | $27.9M | $85.7M | ||
| Q2 25 | $57.5M | $63.4M | ||
| Q1 25 | $55.2M | $71.7M | ||
| Q4 24 | $25.2M | $85.1M | ||
| Q3 24 | $14.7M | $76.7M | ||
| Q2 24 | $37.8M | $61.9M | ||
| Q1 24 | $49.2M | $53.1M |
毛利率BGCSNEX
| Q4 25 | — | — | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率BGCSNEX
| Q4 25 | 3.9% | 15.4% | ||
| Q3 25 | 5.4% | 0.3% | ||
| Q2 25 | 11.6% | -1.3% | ||
| Q1 25 | 15.0% | -1.0% | ||
| Q4 24 | 5.7% | -3.2% | ||
| Q3 24 | 4.4% | -0.0% | ||
| Q2 24 | 12.7% | -4.7% | ||
| Q1 24 | 15.7% | -2.5% |
净利率BGCSNEX
| Q4 25 | 2.3% | 11.6% | ||
| Q3 25 | 4.5% | 0.3% | ||
| Q2 25 | 8.9% | 7.4% | ||
| Q1 25 | 10.3% | 8.7% | ||
| Q4 24 | 5.3% | 12.8% | ||
| Q3 24 | 3.3% | 0.2% | ||
| Q2 24 | 8.7% | 10.8% | ||
| Q1 24 | 10.8% | 10.4% |
每股收益（稀释后）BGCSNEX
| Q4 25 | $0.03 | $2.50 | ||
| Q3 25 | $0.06 | $0.72 | ||
| Q2 25 | $0.11 | $1.22 | ||
| Q1 25 | $0.11 | $1.41 | ||
| Q4 24 | $0.04 | $2.54 | ||
| Q3 24 | $0.03 | $2.32 | ||
| Q2 24 | $0.08 | $1.88 | ||
| Q1 24 | $0.10 | $1.63 |
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 | $1.6B |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $2.5B |
| 总资产 | $4.4B | $47.8B |
| 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BGCSNEX
| Q4 25 | $851.5M | $1.6B | ||
| Q3 25 | $774.9M | $1.6B | ||
| Q2 25 | $827.8M | $1.3B | ||
| Q1 25 | $966.4M | $1.3B | ||
| Q4 24 | $711.6M | $1.4B | ||
| Q3 24 | $563.5M | $1.3B | ||
| Q2 24 | $571.7M | $1.2B | ||
| Q1 24 | $566.8M | $1.3B |
总债务BGCSNEX
| 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BGCSNEX
| Q4 25 | $972.5M | $2.5B | ||
| Q3 25 | $965.3M | $2.4B | ||
| Q2 25 | $930.5M | $2.0B | ||
| Q1 25 | $963.8M | $1.9B | ||
| Q4 24 | $898.5M | $1.8B | ||
| Q3 24 | $860.1M | $1.7B | ||
| Q2 24 | $858.1M | $1.6B | ||
| Q1 24 | $912.1M | $1.5B |
总资产BGCSNEX
| Q4 25 | $4.4B | $47.8B | ||
| Q3 25 | $5.8B | $45.3B | ||
| Q2 25 | $4.9B | $34.3B | ||
| Q1 25 | $4.9B | $31.3B | ||
| Q4 24 | $3.6B | $29.6B | ||
| Q3 24 | $4.4B | $27.5B | ||
| Q2 24 | $4.3B | $25.9B | ||
| Q1 24 | $4.4B | $25.7B |
负债/权益比BGCSNEX
| 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 | $-1.3B |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $-1.3B |
| 自由现金流率自由现金流/营收 | 27.4% | -106.4% |
| 资本支出强度资本支出/营收 | 0.8% | 1.3% |
| 现金转化率经营现金流/净利润 | 12.55× | -9.08× |
| 过去12个月自由现金流最近4个季度 | $372.9M | $3.5B |
8季度趋势，按日历期对齐
经营现金流BGCSNEX
| Q4 25 | $180.4M | $-1.3B | ||
| Q3 25 | $141.9M | $3.5B | ||
| Q2 25 | $71.2M | $1.5B | ||
| Q1 25 | $839.0K | $-154.5M | ||
| Q4 24 | $251.9M | $-477.8M | ||
| Q3 24 | $88.3M | $192.6M | ||
| Q2 24 | $-53.0M | $-622.1M | ||
| Q1 24 | $28.1M | $784.0M |
自由现金流BGCSNEX
| Q4 25 | $175.1M | $-1.3B | ||
| Q3 25 | $137.2M | $3.5B | ||
| Q2 25 | $65.0M | $1.5B | ||
| Q1 25 | $-4.4M | $-169.8M | ||
| Q4 24 | $245.6M | $-491.4M | ||
| Q3 24 | $78.8M | $175.9M | ||
| Q2 24 | $-63.5M | $-640.5M | ||
| Q1 24 | $24.9M | $766.6M |
自由现金流率BGCSNEX
| Q4 25 | 27.4% | -106.4% | ||
| Q3 25 | 22.1% | 10.7% | ||
| Q2 25 | 10.0% | 173.3% | ||
| Q1 25 | -0.8% | -20.7% | ||
| Q4 24 | 51.7% | -74.1% | ||
| Q3 24 | 17.5% | 0.6% | ||
| Q2 24 | -14.6% | -112.0% | ||
| Q1 24 | 5.5% | 150.5% |
资本支出强度BGCSNEX
| Q4 25 | 0.8% | 1.3% | ||
| Q3 25 | 0.8% | 0.1% | ||
| Q2 25 | 1.0% | 1.9% | ||
| Q1 25 | 1.0% | 1.9% | ||
| Q4 24 | 1.3% | 2.1% | ||
| Q3 24 | 2.1% | 0.1% | ||
| Q2 24 | 2.4% | 3.2% | ||
| Q1 24 | 0.7% | 3.4% |
现金转化率BGCSNEX
| Q4 25 | 12.55× | -9.08× | ||
| Q3 25 | 5.09× | 41.18× | ||
| Q2 25 | 1.24× | 23.52× | ||
| Q1 25 | 0.02× | -2.15× | ||
| Q4 24 | 9.99× | -5.61× | ||
| Q3 24 | 5.99× | 2.51× | ||
| Q2 24 | -1.40× | -10.05× | ||
| Q1 24 | 0.57× | 14.76× |
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% |
SNEX
| Principal Gains Net | $378.5M | 32% |
| Other | $293.9M | 24% |
| Sales Based Commissions | $214.0M | 18% |
| Exchange Traded Futures And Options | $172.2M | 14% |
| Clearing Service | $79.0M | 7% |
| Equitiesand Fixed Income Commissions | $34.3M | 3% |
| Underwriting Fees | $11.9M | 1% |
| Trailing Commissions | $7.6M | 1% |
| Insurance Annuity Trailing Commissions | $4.0M | 0% |
| Other Consulting Managementand Account Fees | $3.0M | 0% |
| Other Commission And Clearing Fees | $2.1M | 0% |
