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BGC Group, Inc.（BGC）与天宝（TRMB）财务数据对比。点击上方公司名可切换其他公司
天宝的季度营收约是BGC Group, Inc.的1.5倍（$969.8M vs $638.6M），天宝净利率更高（16.1% vs 2.3%，领先13.9%），BGC Group, Inc.同比增速更快（34.4% vs -73.7%），天宝自由现金流更多（$360.9M vs $175.1M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 0.9%）
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。
天宝（Trimble Inc.）是1978年成立的美国科技企业，总部位于科罗拉多州威斯敏斯特，于纳斯达克上市，为标普500成分股。公司面向建筑工程、地理空间测绘、交通物流等多个行业，提供软硬件产品及相关技术服务。
BGC vs TRMB — 直观对比
营收规模更大
TRMB
是对方的1.5倍
$638.6M
营收增速更快
BGC
高出108.1%
-73.7%
净利率更高
TRMB
高出13.9%
2.3%
自由现金流更多
TRMB
多$185.8M
$175.1M
两年增速更快
BGC
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $969.8M |
| 净利润 | $14.4M | $156.6M |
| 毛利率 | — | 72.0% |
| 营业利润率 | 3.9% | 22.3% |
| 净利率 | 2.3% | 16.1% |
| 营收同比 | 34.4% | -73.7% |
| 净利润同比 | -43.0% | 73.6% |
| 每股收益（稀释后） | $0.03 | $0.65 |
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BGCTRMB
| Q4 25 | $638.6M | $901.2M | ||
| Q3 25 | $620.8M | $875.7M | ||
| Q2 25 | $648.0M | $840.6M | ||
| Q1 25 | $534.6M | $983.4M | ||
| Q4 24 | $475.2M | — | ||
| Q3 24 | $448.9M | $875.8M | ||
| Q2 24 | $435.0M | $870.8M | ||
| Q1 24 | $453.6M | $953.3M |
净利润BGCTRMB
| Q4 25 | $14.4M | $111.5M | ||
| Q3 25 | $27.9M | $89.2M | ||
| Q2 25 | $57.5M | $66.7M | ||
| Q1 25 | $55.2M | $90.2M | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $14.7M | $40.6M | ||
| Q2 24 | $37.8M | $1.3B | ||
| Q1 24 | $49.2M | $57.2M |
毛利率BGCTRMB
| Q4 25 | — | 68.9% | ||
| Q3 25 | — | 68.3% | ||
| Q2 25 | — | 66.7% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 65.7% | ||
| Q2 24 | — | 62.7% | ||
| Q1 24 | — | 62.3% |
营业利润率BGCTRMB
| Q4 25 | 3.9% | 16.7% | ||
| Q3 25 | 5.4% | 14.6% | ||
| Q2 25 | 11.6% | 11.6% | ||
| Q1 25 | 15.0% | 17.6% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.4% | 13.3% | ||
| Q2 24 | 12.7% | 7.1% | ||
| Q1 24 | 15.7% | 11.5% |
净利率BGCTRMB
| Q4 25 | 2.3% | 12.4% | ||
| Q3 25 | 4.5% | 10.2% | ||
| Q2 25 | 8.9% | 7.9% | ||
| Q1 25 | 10.3% | 9.2% | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 3.3% | 4.6% | ||
| Q2 24 | 8.7% | 151.2% | ||
| Q1 24 | 10.8% | 6.0% |
每股收益（稀释后）BGCTRMB
| Q4 25 | $0.03 | $0.46 | ||
| Q3 25 | $0.06 | $0.37 | ||
| Q2 25 | $0.11 | $0.27 | ||
| Q1 25 | $0.11 | $0.36 | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $0.03 | $0.16 | ||
| Q2 24 | $0.08 | $5.34 | ||
| Q1 24 | $0.10 | $0.23 |
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 | $253.4M |
| 总债务越低越好 | $1.5B | $1.4B |
| 股东权益账面价值 | $972.5M | $5.8B |
| 总资产 | $4.4B | $9.3B |
| 负债/权益比越低杠杆越低 | 1.58× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资BGCTRMB
| Q4 25 | $851.5M | $232.7M | ||
| Q3 25 | $774.9M | $265.9M | ||
| Q2 25 | $827.8M | $290.0M | ||
| Q1 25 | $966.4M | $738.8M | ||
| Q4 24 | $711.6M | — | ||
| Q3 24 | $563.5M | $1.0B | ||
| Q2 24 | $571.7M | $944.1M | ||
| Q1 24 | $566.8M | $255.1M |
总债务BGCTRMB
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $945.0M | — |
股东权益BGCTRMB
| Q4 25 | $972.5M | $5.8B | ||
| Q3 25 | $965.3M | $5.7B | ||
| Q2 25 | $930.5M | $5.4B | ||
| Q1 25 | $963.8M | $5.7B | ||
| Q4 24 | $898.5M | — | ||
| Q3 24 | $860.1M | $5.9B | ||
| Q2 24 | $858.1M | $5.6B | ||
| Q1 24 | $912.1M | $4.3B |
总资产BGCTRMB
| Q4 25 | $4.4B | $9.0B | ||
| Q3 25 | $5.8B | $9.1B | ||
| Q2 25 | $4.9B | $8.9B | ||
| Q1 25 | $4.9B | $9.5B | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $4.4B | $9.9B | ||
| Q2 24 | $4.3B | $9.6B | ||
| Q1 24 | $4.4B | $9.3B |
负债/权益比BGCTRMB
| Q4 25 | 1.58× | 0.24× | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 1.97× | — | ||
| Q1 25 | 1.19× | 0.24× | ||
| 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 | $386.2M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $360.9M |
| 自由现金流率自由现金流/营收 | 27.4% | 37.2% |
| 资本支出强度资本支出/营收 | 0.8% | 2.6% |
| 现金转化率经营现金流/净利润 | 12.55× | 2.47× |
| 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BGCTRMB
| Q4 25 | $180.4M | — | ||
| Q3 25 | $141.9M | $123.8M | ||
| Q2 25 | $71.2M | $155.6M | ||
| Q1 25 | $839.0K | $115.1M | ||
| Q4 24 | $251.9M | — | ||
| Q3 24 | $88.3M | $94.9M | ||
| Q2 24 | $-53.0M | $87.6M | ||
| Q1 24 | $28.1M | $233.8M |
自由现金流BGCTRMB
| Q4 25 | $175.1M | — | ||
| Q3 25 | $137.2M | $116.6M | ||
| Q2 25 | $65.0M | $149.0M | ||
| Q1 25 | $-4.4M | $109.0M | ||
| Q4 24 | $245.6M | — | ||
| Q3 24 | $78.8M | $88.5M | ||
| Q2 24 | $-63.5M | $73.3M | ||
| Q1 24 | $24.9M | $227.0M |
自由现金流率BGCTRMB
| Q4 25 | 27.4% | — | ||
| Q3 25 | 22.1% | 13.3% | ||
| Q2 25 | 10.0% | 17.7% | ||
| Q1 25 | -0.8% | 11.1% | ||
| Q4 24 | 51.7% | — | ||
| Q3 24 | 17.5% | 10.1% | ||
| Q2 24 | -14.6% | 8.4% | ||
| Q1 24 | 5.5% | 23.8% |
资本支出强度BGCTRMB
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.8% | 0.8% | ||
| Q2 25 | 1.0% | 0.8% | ||
| Q1 25 | 1.0% | 0.6% | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 2.1% | 0.7% | ||
| Q2 24 | 2.4% | 1.6% | ||
| Q1 24 | 0.7% | 0.7% |
现金转化率BGCTRMB
| Q4 25 | 12.55× | — | ||
| Q3 25 | 5.09× | 1.39× | ||
| Q2 25 | 1.24× | 2.33× | ||
| Q1 25 | 0.02× | 1.28× | ||
| Q4 24 | 9.99× | — | ||
| Q3 24 | 5.99× | 2.34× | ||
| Q2 24 | -1.40× | 0.07× | ||
| Q1 24 | 0.57× | 4.09× |
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% |
TRMB
| Subscription and services | $701.5M | 72% |
| Product | $268.3M | 28% |
