BGC Class A BGC Group, Inc. - Class A Common Stock
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| Ex-date | Split | Type |
|---|---|---|
| Dec. 3, 2018 | 311-for-200 | Forward |
About BGC Group, Inc. - Class A Common Stock Company overview from Wikipedia
BGC Group, Inc. (formerly BGC Partners) is an American global financial services company based in New York City and London. Originally formed as part of the larger Cantor Fitzgerald organization, BGC Partners became its own entity in 2004.
History
1945–1990
In 1945, Bernard Gerald Cantor founded a brokerage service for inter-dealer fixed-income markets. The resulting company was B.G. Cantor and Company, which later became Cantor Fitzgerald.
In 1965 Cantor Fitzgerald established an Institutional Equities Sales and Trading Division, which offers large block trading to asset managers, pension funds, and portfolio managers. In 1983, Cantor Fitzgerald became the first firm to offer worldwide screen brokerage services in US Government securities.
1991–2001
In 1991, Howard Lutnick was named president of Cantor Fitzgerald, after having worked at the firm for the previous eight years. Lutnick placed a new emphasis on technological innovation at the company, and in 1996 led the development of eSpeed, which went public in 1999.
The September 11 attacks claimed 658 employees of Cantor Fitzgerald and eSpeed, whose headquarters were located from floors 101 to 105 of the North Tower (1 WTC) of the World Trade Center, just above the impact zone of American Airlines Flight 11. In response to the attacks, BGC Partners and Cantor Fitzgerald pledged to donate 25% of their profits to families of deceased employees.
2004–present
BGC Partners was formed in 2004 when Cantor Fitzgerald spun out its voice brokerage business. The initials BGC stand for that company's founder, Bernard Gerald Cantor.
In April 2005, BGC Partners LP merged with Maxcor Financial Group Inc. to form BGC Partners.
In September 2005, BGC Partners held their first annual Charity Day event. The event featured Harry Carson, Boomer Esiason, and Mariano Rivera and raised money for the Cantor Fitzgerald Relief Fund among other charities.
In 2007, BGC Partners opened an office in Seoul, South Korea and became the first inter-dealer broker to open an office in Istanbul, Turkey.
In 2008, BGC Partners merged with eSpeed and becomes BGC Partners Inc.
In November 2009, BGC Partners won Asia Risk Magazine's first-ever award for Technology Development.
In 2010, BGC Partners entered into a joint venture with state-owned China Credit Trust based in Beijing.
In May 2012 the Financial Services Authority, Britain's financial regulator, announced its decision to prohibit Anthony Verrier (a senior executive at BGC) from performing any function in relation to any regulated activity in the financial services industry. The FSA stated it believes that Verrier is not a fit and proper person due to concerns over his honesty, integrity and reputation. Its decision followed a civil court ruling that Verrier led an unlawful poaching conspiracy against rival interdealer broker Tullett Prebon and did not tell the truth about it in court.
Also in May 2012 a story was published by the New York Daily News under the headline 'Cantor Fitzgerald VP was boss from hell, secretary says in suit' which reported on a lawsuit brought against the company by former employee Crystal Mitchell. Mitchell worked as an executive assistant to Michael Lampert at BGC USA, an affiliate of Cantor Fitzgerald, in March 2011. According to the suit filed by her lawyer David Harrison, her boss once threw a cup of tea at her because she hadn't removed the teabag. "The boiling hot liquid spilled on [Mitchell], burning her stomach and upper leg, and staining her clothes." the suit said, adding that "Almost daily, Lampert humiliated and degraded Mitchell, yelling at her as if she was inferior and calling her: 'stupid,' 'moron,' 'the dumbest person I ever met,' 'incompetent,' and 'idiot,' ". Elsewhere in the discrimination suit, she says she complained about the treatment to human resource managers — but her pleas for help were ignored.
In October 2012 the New York Post ran an article entitled 'Cantor, Moody's Dogfight' reporting on a 'feud' between the company and Moody's Investors Service. The article stated that Cantor Fitzgerald and Moody's had been feuding for months over differing opinions of Cantor's profitability. In July 2012 Cantor terminated its relationship with Moody's. In October 2012 the ratings' agency dropped BGC's status to Ba2. In December 2012 Bloomberg reported that S&P cut Cantor to BBB− and left the rating for BGC Partners Inc., the company's interdealer broker affiliate, unchanged at the lowest investment grade.
Two articles appeared in January 2013 written by Bloomberg journalist Zeke Faux. The first, dated January 8 was titled 'Cantor May Face Another Ratings Cut as Fitch Cites Slump' and quoted Mohak Rao, a Fitch analyst. Rao wrote in a report "Cantor's institutional business and BGC's financial brokerage business will remain challenged in the medium term because of lower trading volume".
Two days later Zeke Faux published a second, much longer, article titled 'Cantor Growth Plan Sputters as 41% of Touted Hires Exit' citing that 41% of the 158 traders and bankers whose hirings Cantor announced in news releases since 2009 had left, according to industry records.
On April 1, 2013, NASDAQ OMX Group agreed to acquire an electronic Treasurys marketplace from brokerage firm BGC Partners Inc. in a cash-and-stock deal valued at as much as $1.23 billion. The sale caused BGC to see the biggest gain in stock prices since going public in December 1999. The assets sold to Nasdaq in this deal represented $100 million in sales in 2012, less than 6% of BGC's overall total.
On October 2, 2013, BGC's subsidiary BGC Derivative Markets, L.P. launched operations as a Swap Execution Facility (SEF), consistent with the derivatives trading regulations under the Dodd-Frank Act. This followed BGC receiving CFTC approval to operate a Swap Execution Facility in September 2013.
In February 2017, BGC bought London-based Lloyd's insurance broker, Besso Ltd. In January 2019, Ed Broking Ltd, another London headquartered Lloyd's insurance broker was added to the Group.
On July 3, 2023, the company changed its ticker from BGCP to BGC.
Management and directors
John Abularrage, co-chief executive officer
JP Aubin, co-chief executive officer
Sean Windeatt, co-chief executive officer and chief operating officer
Stephen Merkel, chairman of the board, executive vice president, general counsel
Jason W. Hauf, chief financial officer
Mike Whitaker, chief information officer
Brandon Lutnick, director
Offices
The company's global headquarters are in Midtown, New York City, while it also has an office in the Downtown Financial District. The company and its associated businesses also operate offices around the world:
North America
Chicago – 222 West Adams, Suite 1900, Suite 1900
Mexico City (Remate Lince S.A.P.I. de C.V.) Vasco de Quiroga 2121 Santa Fe CDMX
New York City – 110 59th Street, New York, NY 10022
New York City – 55 Water Street, 20th Floor, New York, NY 10038
Toronto (Freedom International Brokerage) – 181 University Avenue, Suite 1500, Toronto ON M5H 3M7
South America
Rio de Janeiro (BGC Liquidez DTVM Ltda.) – Av. Almirante Barroso, 52 – 23rd Floor, Centro, Rio de Janeiro, RJ – 20031-000
São Paulo (BGC Liquidez DTVM Ltda.) – Av. Brigadeiro Faria Lima, 3144 – 7th Floor, Jardim Paulistano, São Paulo, SP – 01451-000
Europe
Copenhagen (BGC Brokers L.P.) – Bremerholm 1, 2nd floor, DK 1069 Copenhagen
Hamburg (Junge & Co. Versicherungsmakler GmbH) – Hohe Bleichen 11, 20354 Hamburg
Istanbul (BGC Partners Menkul Degerler A.S.) – Kanyon Ofis Blogu, Buyukdere cad.No:185, Kat:13 Levent/Istanbul
London (BGC Brokers L.P.) – 5 Churchill Place, Canary Wharf, London E14 5RD
London (ED Broking Group Limited) – 52 Leadenhall St, London EC3A 2EB
London (Besso Limited) – 8–11 Crescent, London, EC3N 2LY
Moscow (BGC Partners CIS, LLC.) – 4A floor, rooms 5–9, Sector A, Smolenskaya Square, 3, 121099, Moscow City, Russia
Nyon (BGC Brokers L.P.) – Alfred Cortot 4, CH-1260 Nyon
Paris (Aurel BGC) – 15–17 Rue Vivienne, 75002 Paris
Asia
Beijing (BGC Capital Markets Limited) – Unit Room 506, 5/F South Block Tower C, No.2 Kexueyuan South Road, Haidian District, Beijing 100190
Dubai (BGC Brokers L.P. Dubai; MINT Partners Dubai) – Al Fattan Currency House, Tower 2, Level 12, DIFC, PO Box 482030, Dubai
Hong Kong (BGC Securities) – Suite 6402-08, 64/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong
Seoul (BGC Capital Markets and Foreign Exchange Broker Limited) – 10/F Seoul Finance Center, 84 Taepyungro 1-ka, Chung-ku, Seoul, South Korea 100-768
Singapore (BGC Partners Limited; BGC Radix Energy L.P.; BGC Securities Limited)- 1 Temasek Avenue #22-01, Millenia Tower, Singapore 039192
Tokyo (BGC Capital Markets, LLC; BGC Shoken Kaisha Limited)- Akasaka Biz Tower 38F, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6338
Australia
Sydney (BGC Partners Pty Limited) – Level 24, 363 George Street, Sydney NSW 2000
Africa
Johannesburg – Selborne House, Fourways Golf Park, Roos Street, Fourways, 2191
Associated businesses
Aqua Equities, joint venture with Cantor spun out in 2007
Aurel BGC, French investment subsidiary formed in 2008
BGC Liquidez, Brazilian subsidiary acquired in 2009
Freedom International Brokerage, Canadian affiliate
MINT Partners, global brokerage acquired in 2010
Newmark Knight Frank, global real estate services. In October 2011, BGC Partners acquired Newmark Knight Frank. Six months later, in April 2012, BGC Partners also bought commercial real estate firm, Grubb & Ellis.
BGC Radix Energy, global energy traders, acquired in 2008.
Smith Mack, a commercial real estate firm, acquired in January 2013.
Frederick Ross Co., a real estate brokerage firm, acquired in January 2013.
Sterling International Brokers Limited, a currency broker, acquired in February 2013.
RP Martin, UK broker, acquired in 2014.s
GFI Group, a New York-based leading intermediary and provider of trading technologies and support services to the global OTC and listed markets, acquired in January 2016. The group also included Kyte broking, Latium capital.
Sunrise Brokers, an equity derivatives broker, acquired in December 2016.
Ed Broking Group, a global reinsurance, wholesale and specialty insurance broker with their German marine insurance arm Junge & Co. Versicherungsmakler, acquired in 2019
Philanthropy
Global Charity Day
BGC Charity Day was founded in 2005 to raise money for the Cantor Fitzgerald Relief Fund and other nonprofits as a way to honor the victims of 9/11. Each year on or near September 11, BGC Charity Day brings in celebrities, athletes and politicians alike to man their phones and speak with clients, with all revenue from the day being donated to charities of choice. The Charity Day event has also spread beyond New York to all of BGC Partners' international offices.
Hurricane Sandy relief
When Hurricane Sandy hit the New York and New Jersey coasts in October 2012, damages quickly totaled in the billions, with thousands of family homes completely destroyed along beach properties. A Hurricane Sandy Family Relief Program was established and funded largely by BGC Partners and Cantor Fitgerald's Charity Day efforts. $10 million in the form of $1,000 debit cards were handed out to families whose homes were damaged in the storm. The eligible families were identified through nineteen schools located in areas hardest hit by the storm.
Cantor Fitzgerald Slacks On 9/11 Pledge, But Promises $10 Million To Sandy Relief
Oklahoma Tornado relief
On May 20, 2013, a tornado struck Moore, Oklahoma, killing 24 people and injuring hundreds more. Two days later, Howard Lutnick appeared on the Piers Morgan Live TV show and pledged to donate $2 million to families affected by the tornado. The donation was given out in the form of $1,000 debit cards distributed to area families.
Sponsorship
In 2012 the company became the title sponsor of the Masters snooker tournament.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | BGC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 28.75Y avg ≈42.3 | ≈42.3 | 18.8 | Overvalued | |
| PEG Ratio | ≈1.4 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | BGC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Pretax Margin (TTM) | 8.3% | · | 8.7% | Top tier | |
| Net Profit Margin (TTM) | 6.0% | · | 4.3% | Top tier | |
| ROA (TTM) | 3.7% | · | 4.2% | Weak | |
| ROE (TTM) | 19.5% | · | 15.6% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | BGC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 1.6 | · | · | · | |
| Long-Term Debt / Equity (MRQ) | 1.6 | · | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | BGC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 30.0%5Y avg ≈8.3% | ≈8.3% | · | · | |
| Revenue CAGR 3Y | 17.9%5Y avg ≈7.1% | ≈7.1% | · | · | |
| Revenue CAGR 5Y | 7.4% | · | · | · | |
| EPS YoY | 24.0%5Y avg ≈68.5% | ≈68.5% | · | · | |
| Net Income YoY | 22.0%5Y avg ≈60297.1% | ≈60297.1% | · | · | |
| EPS CAGR 3Y | 33.6%5Y avg ≈3.1% | ≈3.1% | · | · | |
| EPS CAGR 5Y | 20.9% | · | · | · | |
| Net Income CAGR 3Y | 47.1%5Y avg ≈284.4% | ≈284.4% | · | · | |
| Net Income CAGR 5Y | 397.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | BGC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue / Employee | ≈$648.9K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 19, 2026 | $0.02 | USD | ≈0.74% |
| May 27, 2026 | $0.02 | USD | ≈0.76% |
| Mar 4, 2026 | $0.02 | USD | ≈0.83% |
| Nov 26, 2025 | $0.02 | USD | ≈0.93% |
| Aug 20, 2025 | $0.02 | USD | ≈0.82% |
| May 27, 2025 | $0.02 | USD | ≈0.84% |
| Mar 6, 2025 | $0.02 | USD | ≈0.85% |
| Nov 21, 2024 | $0.02 | USD | ≈0.69% |
| Aug 19, 2024 | $0.02 | USD | ≈0.63% |
| May 20, 2024 | $0.02 | USD | ≈0.56% |
| Mar 4, 2024 | $0.01 | USD | ≈0.49% |
| Nov 16, 2023 | $0.01 | USD | ≈0.62% |
| Aug 21, 2023 | $0.01 | USD | ≈0.79% |
| May 16, 2023 | $0.01 | USD | ≈0.91% |
| Mar 16, 2023 | $0.01 | USD | ≈0.74% |
| Nov 21, 2022 | $0.01 | USD | ≈1.0% |
| Aug 22, 2022 | $0.01 | USD | ≈0.99% |
| May 18, 2022 | $0.01 | USD | ≈1.3% |
| Mar 7, 2022 | $0.01 | USD | ≈0.93% |
| Nov 22, 2021 | $0.01 | USD | ≈0.85% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $0.35 | $0.34 | 3.4% |
| March 31, 2026 | May 7, 2026 | $0.41 | $0.41 | -0.76% |
| Dec. 31, 2025 | $0.31 | $0.29 | 5.8% | |
| Sept. 30, 2025 | $0.29 | $0.28 | 2.5% | |
| June 30, 2025 | $0.31 | $0.31 | -0.99% | |
| March 31, 2025 | $0.29 | $0.29 | 0.73% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.94B | $2.26B | $2.03B | $1.80B | $2.02B | $2.06B | $2.10B | $1.94B | $1.75B | $1.55B | $2.78B | $1.79B | |
| Operating Expenses | $2.82B | $2.18B | $1.99B | $1.72B | $2.18B | $1.99B | $2.04B | $1.82B | $1.78B | $1.53B | $2.86B | $1.84B | |
| Interest Expense | · | · | $77M | $58M | $69M | $77M | $60M | $42M | $77M | $58M | $79M | $38M | |
| Interest Income | $54M | $56M | $45M | $21M | $22M | $12M | $18M | $14M | $15M | $9M | $25M | $7M | |
| Other Non-op | $14M | $45M | $16M | $9M | $20M | $2M | $31M | $51M | $26M | $82M | $123M | $49M | |
| Pretax Income | $214M | $173M | $58M | $97M | $177M | $72M | $117M | $172M | $4M | $120M | $439M | $-14M | |
| Income Tax | $67M | $50M | $19M | $39M | $23M | $21M | $50M | $64M | $93M | $56M | $121M | $651.0K | |
| Net Income | $155M | $123M | $39M | $59M | $153M | $50.9K | $44M | $202M | $51M | $185M | $160M | $-3M | |
| EPS (Basic) | $0.31 | $0.26 | $0.08 | $0.13 | $0.33 | $0.12 | $0.13 | $0.62 | $0.18 | $0.67 | $0.66 | $-0.01 | |
| EPS (Diluted) | $0.31 | $0.25 | $0.07 | $0.13 | $0.32 | $0.12 | $0.12 | · | $0.17 | $0.65 | $0.62 | $-0.01 | |
| Shares (Basic) | 476,364,000 | 473,390,000 | 426,436,000 | 371,561,000 | 379,215,000 | 361,736,000 | 344,332,000 | 322,141,000 | 287,378,000 | 277,073,000 | 243,460,000 | 220,697,000 | |
| Shares (Diluted) | 480,950,000 | 479,142,000 | 489,989,000 | 499,414,000 | 540,020,000 | 546,848,000 | 472,187,000 | · | 454,256,000 | 433,226,000 | 286,322,000 | 220,697,000 | |
| EBITDA | · | $81M | · | · | · | · | $79M | $71M | $82M | $76M | · | $45M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $852M | $712M | $656M | $485M | $554M | $596M | $415M | $337M | $513M | $536M | $563M | $711M | |
| PP&E (Net) | · | · | · | · | · | $215M | $205M | $157M | $125M | $167M | $148M | $112M | |
| PP&E (Gross) | · | · | · | · | · | $473M | $447M | $462M | $384M | $418M | $426M | $361M | |
| Accum. Depreciation | · | · | · | · | · | $258M | $242M | $305M | $260M | $251M | $279M | $249M | |
| Goodwill | $649M | $540M | $506M | $487M | $487M | $556M | $554M | $505M | $468M | $451M | $812M | $393M | |
| Intangibles | $428M | $241M | $211M | $193M | $208M | $287M | $303M | $299M | $286M | $253M | $234M | $28M | |
| Total Assets | $4.41B | $3.59B | $3.18B | $3.07B | $3.34B | $3.95B | $3.93B | $3.43B | $5.43B | $5.05B | $3.98B | $2.75B | |
| Short-term Debt | $20M | $0 | · | $2M | $4M | $4M | $5M | $5M | $6M | · | · | · | |
| Total Liabilities | $3.27B | $2.51B | $2.28B | $2.33B | $2.66B | $3.12B | $3.18B | $2.54B | $4.24B | $3.36B | $2.69B | $2.11B | |
| Long-term Debt | $1.54B | $1.14B | $944M | $1.05B | $1.04B | $1.30B | $1.04B | $743M | $539M | $950M | $818M | $707M | |
| Total Debt | · | $1.34B | · | · | · | · | $1.15B | $769M | $1.66B | · | · | · | |
| Retained Earnings | $-910M | $-1.03B | $-1.12B | $-1.14B | $-1.17B | $-1.28B | $-1.25B | $-1.11B | $-859M | $-213M | $-290M | $-269M | |
| Treasury Stock | $615M | $332M | $67M | $711M | $624M | $315M | $315M | $314M | $304M | $289M | $212M | $201M | |
| AOCI | $-41M | $-60M | $-39M | $-45M | $-41M | $-29M | $-33M | $-24M | $-10M | $-23M | $-25M | $4M | |
| Stockholders' Equity | $972M | $899M | $885M | $670M | $620M | $754M | $675M | $768M | $634M | $1.18B | $634M | $402M | |
| Liabilities + Equity | $4.41B | $3.59B | $3.18B | $3.07B | $3.34B | $3.95B | $3.93B | $3.43B | $5.43B | $5.05B | $3.98B | $2.75B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $103M | $81M | $80M | $75M | $82M | $85M | $82M | $71M | $65M | $63M | $84M | $46M | |
| Deferred Tax | $-15M | $-70M | $-61M | $-15M | $-12M | $-17M | $-4M | $-24M | $20M | $-32M | $60M | $-26M | |
| Amort. of Intangibles | $36M | $20M | $16M | $16M | $23M | $28M | $29M | $27M | $26M | $16M | $27M | $4M | |
| Other Non-cash | · | $177M | · | · | · | · | $106M | $-314M | $1.06B | $-169M | · | $108M | |
| Operating Cash Flow | $394M | $315M | $405M | $224M | $417M | $303M | $241M | $-67M | $393M | $-107M | $686M | $167M | |
| CapEx | $21M | $30M | $15M | $11M | $10M | $31M | $47M | $25M | $25M | $18M | $39M | $14M | |
| Investing Cash Flow | $-283M | $-97M | $-91M | $-53M | $121M | $-78M | $-43M | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | $328M | $27M | $15M | · | · | |
| Stock Repurchased | $282M | $262M | $115M | $104M | $365M | $6.0K | $1M | $10M | $17M | $96M | $12M | $100M | |
| Net Stock Activity | · | $-262M | · | · | · | · | $-1M | $317M | $10M | $-81M | · | $-100M | |
| Dividends Paid | $39M | $34M | $17M | $15M | $15M | $60M | $192M | $231M | $200M | $171M | $131M | $105M | |
| Financing Cash Flow | $21M | $-149M | $-147M | $-233M | $-820M | $-13M | $18M | · | · | · | · | · | |
| Net Change in Cash | $140M | $60M | $171M | $-65M | $-287M | $213M | $219M | $-380M | $203M | $-22M | $-148M | $-67M | |
| Taxes Paid | $148M | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $286M | · | · | · | · | $192M | $-92M | $1.23B | $-77M | · | $170M | |
| Levered FCF | · | · | · | · | · | · | $156M | $-116M | $1.19B | $-116M | · | $124M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | · | 5.6% | · | · | · | · | 2.6% | 10.2% | 1.5% | 3.9% | · | 0.23% | |
| Pretax Margin | · | 7.6% | · | · | · | · | 6.6% | 9.3% | 6.9% | 7.2% | · | -0.18% | |
| EBITDA Margin | · | 3.6% | · | · | · | · | 3.8% | 3.7% | 2.5% | 2.9% | · | 2.5% | |
| ROA | · | 3.8% | · | · | · | · | 1.5% | 4.5% | 0.98% | 2.7% | · | 0.17% | |
| ROE | · | 14.2% | · | · | · | · | 7.7% | 28.2% | 5.7% | 13.9% | · | 0.96% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | 1.5 | · | · | · | · | 1.7 | 1.0 | 2.6 | · | · | · | |
| LT Debt / Equity | · | 1.5 | · | · | · | · | 1.7 | 1.0 | 2.6 | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.7 | · | · | · | · | 0.6 | 0.4 | 0.6 | 0.7 | · | 0.7 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | · | $4.72 | · | · | · | · | · | · | $7.38 | $6.03 | · | $5.44 | |
| Cash Flow / Share | · | $0.66 | · | · | · | · | · | · | $2.78 | $-0.06 | · | $0.56 | |
| Dividend / Share | $0.08 | $0.07 | $0.04 | $0.04 | $0.04 | $0.17 | $0.56 | $0.72 | $0.70 | $0.62 | $0.54 | $0.48 | |
| Dividend Paid / Share | $0.08 | $0.07 | $0.04 | $0.04 | $0.04 | $0.17 | $0.56 | $0.72 | $0.70 | $0.62 | $0.54 | $0.48 | |
| EPS (TTM) | $0.31 | $0.25 | $0.07 | $0.13 | $0.32 | $0.12 | $0.12 | $0.92 | $0.17 | $0.65 | $0.62 | $-0.01 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 30.0% | 11.7% | 12.8% | -10.9% | -2.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 17.9% | 3.9% | -0.51% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 24.0% | 257.1% | -46.2% | -59.4% | 166.7% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 33.6% | -7.9% | -16.4% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 20.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 22.0% | 217.8% | -34.1% | -61.7% | 301341.5% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 47.1% | -7.1% | 813.2% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 397.4% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | -8.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.94B | $2.26B | $2.03B | $1.80B | $2.02B | $2.06B | $2.10B | $1.94B | $1.75B | $1.55B | $2.78B | $1.79B | |
| Net Income TTM | $155M | $127M | $36M | $49M | $153.5K | $50.9K | $44M | $202M | $51M | $185M | $160M | $-3M | |
| P/E | 28.8 | 36.2 | 103.1 | 29.0 | 14.5 | 33.3 | 49.5 | 5.6 | 57.2 | 10.1 | 10.2 | -588.4 | |
| Earnings Yield | 3.5% | 2.8% | 0.97% | 3.5% | 6.9% | 3.0% | 2.0% | 17.8% | 1.8% | 9.9% | 9.8% | -0.17% | |
| Payout Ratio | · | 26.9% | · | · | · | · | 345.4% | 117.2% | 388.8% | 166.7% | · | 2542.5% | |
| Annual Payout | $39M | $34M | $17M | $15M | $15M | $60M | $192M | $231M | $200M | $171M | $131M | $105M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $846M | $955M | $756M | $737M | $784M | $664M | $572M | $561M | $551M | $579M | $517M | $483M | $493M | $533M | $437M | $417M | |
| Operating Expenses | $774M | $847M | $813M | $706M | $712M | $587M | $586M | $548M | $500M | $548M | $502M | $465M | $526M | $500M | $439M | $406M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $20M | · | $21M | $20M | $16M | · | $14M | |
| Interest Income | $27M | $11M | $13M | $14M | $15M | $12M | $12M | $17M | $17M | $10M | $17M | $10M | $13M | $5M | $6M | $4M | |
| Other Non-op | $1M | $2M | $14M | $-35.0K | $581.0K | $-98.0K | $537.0K | $4M | $2M | $39M | $15M | $4M | $-1M | $-2M | $2M | $6M | |
| Pretax Income | $99M | $115M | $25M | $33M | $75M | $80M | $27M | $20M | $55M | $71M | $32M | $24M | $-31M | $33M | $2M | $19M | |
| Income Tax | $30M | $32M | $14M | $7M | $19M | $27M | $4M | $6M | $18M | $22M | $11M | $5M | $-9M | $12M | $-2M | $11M | |
| Net Income | $72M | $84M | $14M | $28M | $58M | $55M | $21M | $15M | $38M | $49M | $22M | $17M | $-20M | $19M | $12M | $6M | |
| EPS (Basic) | $0.15 | $0.17 | $0.03 | $0.06 | $0.11 | $0.11 | $0.05 | $0.03 | $0.08 | $0.10 | $0.05 | $0.03 | $-0.05 | $0.05 | $0.00 | $0.02 | |
| EPS (Diluted) | $0.15 | $0.17 | $0.03 | $0.06 | $0.11 | $0.11 | $0.04 | $0.03 | $0.08 | $0.10 | $0.04 | $0.03 | $-0.05 | $0.05 | $0.01 | $0.01 | |
| Shares (Basic) | 475,565,000 | 474,199,000 | · | 474,642,000 | 480,138,000 | 479,166,000 | · | 473,435,000 | 475,272,000 | 470,517,000 | · | 468,544,000 | 391,745,000 | 375,220,000 | · | 371,108,000 | |
| Shares (Diluted) | 478,965,000 | 479,217,000 | · | 478,480,000 | 484,636,000 | 485,549,000 | · | 478,652,000 | 480,861,000 | 477,973,000 | · | 477,545,000 | 391,745,000 | 501,067,000 | · | 496,985,000 | |
| EBITDA | · | $26M | · | · | · | $22M | · | · | · | $21M | · | · | · | $19M | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $767M | $781M | $852M | $775M | $828M | $966M | $712M | $563M | $572M | $567M | · | $560M | $526M | $493M | · | $473M | |
| Goodwill | $647M | $647M | $649M | $649M | $626M | $541M | $540M | $506M | $505M | $507M | $506M | $501M | $503M | $502M | $487M | $487M | |
| Intangibles | $411M | $420M | $428M | $436M | $446M | $236M | $241M | $197M | $202M | $206M | · | $197M | $200M | $205M | · | $197M | |
| Total Assets | $5.75B | $5.86B | $4.41B | $5.83B | $4.89B | $4.88B | $3.59B | $4.38B | $4.26B | $4.38B | · | $3.86B | $4.08B | $4.48B | · | $4.67B | |
| Short-term Debt | $0 | $0 | $20M | · | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $4.48B | $4.59B | $3.27B | $4.68B | $3.78B | $3.74B | $2.51B | $3.34B | $3.22B | $3.45B | · | $3.00B | $3.26B | $3.67B | · | $3.94B | |
| Long-term Debt | $1.54B | $1.54B | $1.54B | $1.84B | $1.84B | $1.14B | $1.14B | $1.44B | $1.44B | $945M | · | $945M | $1.39B | $1.05B | · | $1.05B | |
| Total Debt | $1.77B | $1.78B | · | $1.84B | $1.92B | $1.69B | · | $1.44B | $1.44B | $945M | · | $1.18B | $1.39B | $1.12B | · | $1.05B | |
| Retained Earnings | $-773M | $-836M | $-910M | $-915M | $-933M | $-981M | $-1.03B | $-1.04B | $-1.05B | $-1.07B | · | $-1.13B | $-1.15B | $-1.12B | · | $-1.14B | |
| Treasury Stock | · | · | $615M | · | · | $355M | $332M | $281M | $217M | $137M | · | $40M | $753M | $715M | · | $691M | |
| AOCI | $-39M | $-40M | $-41M | $-40M | $-41M | $-54M | $-60M | $-46M | $-50M | $-43M | · | $-46M | $-41M | $-44M | · | $-53M | |
| Stockholders' Equity | $1.11B | $1.10B | $972M | $965M | $930M | $964M | $899M | $860M | $858M | $912M | · | $844M | $733M | $728M | · | $652M | |
| Liabilities + Equity | $5.75B | $5.86B | $4.41B | $5.83B | $4.89B | $4.88B | $3.59B | $4.38B | $4.26B | $4.38B | · | $3.86B | $4.08B | $4.48B | · | $4.67B |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $26M | $26M | $28M | $27M | $26M | $22M | $21M | $20M | $20M | $21M | $20M | $22M | $19M | $19M | $19M | $19M | |
| Deferred Tax | $-984.0K | $2M | $-19M | $2M | $-876.0K | $4M | $-67M | $2M | $-4M | $-602.0K | $-38M | $-17M | $-7M | $1M | $-17M | $1M | |
| Amort. of Intangibles | $10M | $10M | $10M | $10M | $10M | $6M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Other Non-cash | · | $-91M | · | · | · | $-80M | · | · | · | $-41M | · | · | · | $-15M | · | · | |
| Operating Cash Flow | $162M | $20M | $180M | $142M | $71M | $839.0K | $252M | $88M | $-53M | $28M | $174M | $313M | $-106M | $24M | $92M | $78M | |
| CapEx | $5M | $5M | $5M | $5M | $6M | $5M | $6M | $10M | $11M | $3M | $6M | $2M | $5M | $2M | $4M | $3M | |
| Investing Cash Flow | $-11M | $-18M | $37M | $-26M | $-277M | $-17M | $110M | $9M | $-197M | $-19M | $-30M | $-5M | $-16M | $-39M | $-17M | $-12M | |
| Stock Repurchased | $112M | $2M | $68M | $42M | $149M | $23M | $50M | $64M | $79M | $69M | $28M | $40M | $42M | $4M | $25M | $53M | |
| Net Stock Activity | · | $-2M | · | · | · | $-23M | · | · | · | $-69M | · | · | · | $-4M | · | · | |
| Dividends Paid | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $5M | $5M | $5M | $4M | $4M | $4M | $4M | |
| Financing Cash Flow | $-167M | $-72M | $-142M | $-160M | $57M | $266M | $-206M | $-102M | $254M | $-95M | $-49M | $-262M | $148M | $17M | $-63M | $-86M | |
| Net Change in Cash | $-17M | $-71M | $74M | $-43M | $-144M | $252M | $150M | $-3M | $1M | $-88M | $97M | $33M | $33M | $8M | $16M | $-23M | |
| Free Cash Flow | · | $15M | · | · | · | $-4M | · | · | · | $25M | · | · | · | $22M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $11M | · | · | · | $12M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 8.6% | 8.8% | · | 3.8% | 7.3% | 8.3% | · | 2.6% | 6.9% | 8.5% | · | 3.5% | -4.0% | 3.6% | · | 1.4% | |
| Pretax Margin | 11.7% | 12.1% | · | 4.5% | 9.6% | 12.0% | · | 3.5% | 10.0% | 12.3% | · | 4.9% | -6.3% | 6.2% | · | 4.6% | |
| EBITDA Margin | · | 2.7% | · | · | · | 3.3% | · | · | · | 3.6% | · | · | · | 3.6% | · | · | |
| ROA | 1.4% | 1.6% | · | 0.55% | 1.3% | 1.2% | · | 0.36% | 0.91% | 1.1% | · | 0.40% | -0.44% | 0.40% | · | 0.11% | |
| ROE | 7.1% | 8.2% | · | 3.0% | 6.4% | 5.9% | · | 1.7% | 4.8% | 6.0% | · | 2.3% | -2.8% | 2.7% | · | 0.90% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.6 | 1.6 | · | 1.9 | 2.1 | 1.8 | · | 1.7 | 1.7 | 1.0 | · | 1.4 | 1.9 | 1.5 | · | 1.6 | |
| LT Debt / Equity | 1.6 | 1.6 | · | 1.9 | 2.1 | 1.8 | · | 1.7 | 1.7 | 1.0 | · | 1.4 | 1.9 | 1.5 | · | 1.6 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.1 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $1.77 | $1.99 | · | $1.54 | $1.62 | $1.37 | · | $1.17 | $1.15 | $1.21 | · | $1.01 | $1.26 | $1.06 | · | $0.84 | |
| Cash Flow / Share | · | $0.04 | · | · | · | $0.00 | · | · | · | $0.06 | · | · | · | $0.05 | · | · | |
| Dividend / Share | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | |
| Dividend Paid / Share | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | |
| EPS (TTM) | $0.41 | $0.37 | · | $0.32 | $0.29 | $0.26 | · | $0.25 | $0.25 | $0.12 | · | $0.04 | $0.02 | $0.11 | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.29B | $3.23B | · | $2.76B | $2.58B | $2.35B | · | $2.21B | $2.13B | $2.07B | · | $1.95B | $1.88B | $1.82B | · | · | |
| Net Income TTM | $199M | $184M | · | $162M | $149M | $129M | · | $124M | $127M | $69M | · | $29M | $17M | $52M | · | $152M | |
| P/E | 26.1 | 26.4 | · | 29.6 | 35.3 | 35.3 | · | 36.7 | 33.2 | 64.8 | · | 132.0 | 221.5 | 47.5 | · | · | |
| Earnings Yield | 3.8% | 3.8% | · | 3.4% | 2.8% | 2.8% | · | 2.7% | 3.0% | 1.5% | · | 0.76% | 0.45% | 2.1% | · | · | |
| Payout Ratio | · | 11.6% | · | · | · | 17.9% | · | · | · | 9.8% | · | · | · | 19.7% | · | · | |
| Annual Payout | $39M | $39M | · | $39M | $39M | $39M | · | $30M | $25M | $18M | · | $16M | $15M | $15M | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $2.94B | $2.26B | $2.03B | $1.80B | $2.02B |
| Net Income | $155M | $123M | $39M | $59M | $153M |
| Diluted EPS | $0.31 | $0.25 | $0.07 | $0.13 | $0.32 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | · | 1.5 | · | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $286M | · | · | · |
Institutional owners (13F) 390 filers · $3.6B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 54 (-13 vs prior Q) | 41 (+3 vs prior Q) | 157 (+19 vs prior Q) | 87 (-20 vs prior Q) | +17.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $614,446,789 | 57,478,652 | 16.86% | Shares |
| VANGUARD GROUP INC | $384,997,206 | 43,112,789 | 10.56% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $275,156,410 | 25,739,608 | 7.55% | Shares |
| Rubric Capital Management LP | $254,422,000 | 23,800,000 | 6.98% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $177,963,924 | 16,647,701 | 4.88% | Shares |
| STATE STREET CORP | $164,033,068 | 15,344,534 | 4.50% | Shares |
| FMR LLC | $113,322,798 | 10,600,823 | 3.11% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $103,979,590 | 9,724,963 | 2.85% | Shares |
| Nuveen, LLC | $98,938,858 | 9,255,272 | 2.71% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $88,191,388 | 8,250,750 | 2.42% | Shares |
| Boston Partners | $77,380,647 | 7,226,432 | 2.12% | Shares |
| Invesco Ltd. | $68,545,466 | 6,412,111 | 1.88% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $65,976,585 | 6,171,804 | 1.81% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $57,892,080 | 5,415,536 | 1.59% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $53,450,406 | 5,000,038 | 1.47% | Shares |
| MORGAN STANLEY | $49,670,000 | 4,646,397 | 1.36% | Shares |
| JPMORGAN CHASE & CO | $45,176,969 | 4,307,540 | 1.24% | Shares |
| Private Capital Management, LLC | $45,060,723 | 4,215,222 | 1.24% | Shares |
| NORTHERN TRUST CORP | $41,562,090 | 3,887,941 | 1.14% | Shares |
| SOROS FUND MANAGEMENT LLC | $37,221,415 | 3,481,891 | 1.02% | Shares |
| AltraVue Capital, LLC | $35,750,246 | 3,344,270 | 0.98% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $35,256,550 | 3,298,087 | 0.97% | Shares |
| BANK OF AMERICA CORP /DE/ | $32,163,527 | 3,008,749 | 0.88% | Shares |
| ALGERT GLOBAL LLC | $31,913,659 | 2,985,375 | 0.88% | Shares |
| Bank of New York Mellon Corp | $30,455,125 | 2,848,936 | 0.84% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $28,543,839 | 2,670,144 | 0.78% | Shares |
| Clearbridge Investments, LLC | $25,367,958 | 2,373,055 | 0.70% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $24,805,504 | 2,320,440 | 0.68% | Shares |
| GOLDMAN SACHS GROUP INC | $22,729,280 | 2,126,219 | 0.62% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $20,003,150 | 1,871,202 | 0.55% | Shares |
| O'Keefe Stevens Advisory, Inc. | $19,604,728 | 1,833,931 | 0.54% | Shares |
| Russell Investments Group, Ltd. | $19,333,263 | 1,808,538 | 0.53% | Shares |
| Toroso Investments, LLC | $18,864,616 | 2,112,499 | 0.52% | Shares |
| MUHLENKAMP & CO INC | $15,469,178 | 1,447,070 | 0.42% | Shares |
| PRUDENTIAL FINANCIAL INC | $15,345,399 | 1,435,491 | 0.42% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $14,877,689 | 1,521,236 | 0.41% | Shares |
| Robertson Stephens Wealth Management, LLC | $14,116,340 | 1,320,518 | 0.39% | Shares |
| Public Sector Pension Investment Board | $13,574,525 | 1,269,834 | 0.37% | Shares |
| Rockefeller Capital Management L.P. | $12,968,061 | 1,213,102 | 0.36% | Shares |
| UBS Group AG | $12,788,234 | 1,196,280 | 0.35% | Shares |
| NORGES BANK | $11,983,490 | 1,121,000 | 0.33% | Shares |
| FIRST TRUST ADVISORS LP | $10,772,868 | 1,007,752 | 0.30% | Shares |
| PDT Partners, LLC | $10,488,942 | 981,192 | 0.29% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $10,376,131 | 970,639 | 0.28% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $9,521,925 | 890,732 | 0.26% | Shares |
| RBF Capital, LLC | $9,410,674 | 880,325 | 0.26% | Shares |
| RHUMBLINE ADVISERS | $9,372,465 | 876,753 | 0.26% | Shares |
| Legato Capital Management LLC | $9,064,959 | 847,985 | 0.25% | Shares |
| Legal & General Group Plc | $8,929,775 | 835,339 | 0.25% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $8,829,609 | 825,969 | 0.24% | Shares |
Activists & 5%+ owners 9 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| CANTOR FITZGERALD, L. P., CF Group Management, Inc., Brandon G. Lutnick ×3 filings | Oct. 6, 2025 | 23.40% | Amendment | · | SEC |
| Howard W. Lutnick | Oct. 6, 2025 | 0.00% | Amendment | · | SEC |
| Cantor Fitzgerald, L.P., CF Group Management, Inc., Howard W. Lutnick ×15 filings | Nov. 21, 2024 | · | Initial filing | · | SEC |
| BGC Partners, Inc., Cantor Fitzgerald, L.P., CF Group Management, Inc., Howard W. Lutnick ×2 filings | Dec. 12, 2018 | · | Initial filing | · | SEC |
| Cantor Fitzgerald, L.P. (2), CF Group Management, Inc. (2), Howard W. Lutnick (2) ×2 filings | May 25, 2018 | · | Initial filing | Capital structure | SEC |
| BGC Partners, L.P., BGC Holdings, LLC, BGC Holdings, L.P., BGC GP, LLC, BGC Partners, Inc., Cantor Fitzgerald, L.P., CF Group Management, Inc., Howard W. Lutnick | May 12, 2015 | · | Initial filing | M&A / sale | SEC |
| Cantor Fitzgerald, L.P. (, CF Group Management, Inc. (, Howard W. Lutnick (2) | April 25, 2008 | · | Initial filing | M&A / sale | SEC |
| Chap-Cap Activist Partners Master Fund, Ltd., Chap-Cap Partners II Master Fund, Ltd., Chapman Capital L.L.C., Robert L. Chapman, Jr. ×7 filings | June 4, 2007 | · | Initial filing | Board campaign | SEC |
| WC Capital Management, LLC, Aaron H. Braun ×3 filings | May 9, 2007 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 35 insiders · 11 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jean-Pierre Aubin | Co-Chief Executive Officer | Aug. 28, 2026 D | 1,082,071 | 0 | 1 | $-95,500 |
| John J. Abularrage | Co-Chief Executive Officer | April 1, 2026 A | 832,072 | 0 | 0 | $0 |
| Sean A Windeatt | COO and Co-CEO | April 1, 2026 F | 725,113 | 0 | 0 | $0 |
| Lee M Amaitis | Co-Chief Executive Officer | Dec. 1, 2008 M | 0 | 0 | 0 | $0 |
| Jason W. Hauf | Chief Financial Officer | April 1, 2026 F | 113,711 | 0 | 0 | $0 |
| Anthony Graham Sadler | Chief Financial Officer | Feb. 24, 2016 D | 21,010 | 0 | 0 | $0 |
| Robert K West | Chief Financial Officer | April 1, 2008 A | 11,387 | 0 | 0 | $0 |
| Jay Ryan | Interim CFO | Dec. 20, 2004 A | · | 0 | 0 | $0 |
| Shaun D Lynn | President | July 30, 2020 D | 5,368 | 0 | 0 | $0 |
| Stephen M Merkel | Chairman of the Board & GC | April 1, 2026 F | 195,741 | 0 | 0 | $0 |
| Sean Galvin | Chief Accounting Officer | Oct. 29, 2018 P | 20,000 | 0 | 0 | $0 |
| Arthur U Mbanefo | Director | Nov. 12, 2025 A | 24,756 | 0 | 0 | $0 |
| David Richards | Director | Nov. 12, 2025 A | 24,999 | 0 | 0 | $0 |
| Linda A Bell | Director | Nov. 12, 2025 A | 41,044 | 0 | 0 | $0 |
| William Dean Addas | Director | Nov. 12, 2025 A | 32,652 | 0 | 0 | $0 |
| Brandon Lutnick | Director | Oct. 6, 2025 P | 1,978,568 | 1 | 0 | $82,647,970 |
| CF Group Management, Inc. | Director | Oct. 6, 2025 P | 102,314,198 | 1 | 0 | $82,647,970 |
| LUTNICK HOWARD W | Director | Oct. 6, 2025 S | 0 | 0 | 1 | $-82,647,970 |
| Cantor Fitzgerald, L.P. | Director | Oct. 6, 2025 P | 102,314,198 | 1 | 0 | $82,647,970 |
| Martin Laguerre | Director | Jan. 25, 2023 A | 16,355 | 0 | 0 | $0 |
| Stephen T Curwood | Director | Nov. 22, 2021 A | 67,661 | 0 | 0 | $0 |
| William J Moran | Director | Nov. 22, 2021 A | 101,675 | 0 | 0 | $0 |
| John H Dalton | Director | Oct. 4, 2017 M | 15,040 | 0 | 0 | $0 |
| Albert M Weis | Director | July 20, 2015 M | 310,418 | 0 | 0 | $0 |
| Barry R Sloane | Director | April 5, 2013 D | 19,464 | 0 | 0 | $0 |
| Catherine P Koshland | Director | Dec. 13, 2008 A | 13,337 | 0 | 0 | $0 |
| Larry R Carter | Director | Sept. 16, 2003 S | 25,000 | 0 | 0 | $0 |
| Ronald Juvonen | 10% owner | May 1, 2008 P | 4,365,191 | 0 | 0 | $0 |
| Paul Saltzman | · | Dec. 20, 2007 A | 7,239 | 0 | 0 | $0 |
| Frank V Saracino | · | Dec. 14, 2007 A | · | 0 | 0 | $0 |
| Cantor Fitzgerald Securities | · | Sept. 14, 2005 J | 0 | 0 | 0 | $0 |
| Henry Morris | · | July 20, 2005 A | · | 0 | 0 | $0 |
| Kevin Foley | · | Dec. 20, 2004 A | · | 0 | 0 | $0 |
| Joseph C Noviello | · | Dec. 30, 2003 M | 2,331 | 0 | 0 | $0 |
| Jeffrey M Chertoff | · | Dec. 9, 2003 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 53 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| RSMC · Tidal Trust III | 1.61% | 1,068,854 NS | July 31, 2026 | N-PORT |
| PSCF · Invesco Exchange-Traded Fund Trust … | 1.00% | 23,557 SH | Oct. 2, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.43% | 483,254 NS | July 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.33% | 75,713 SH | Oct. 2, 2026 | Daily |
| IWO · iShares Trust | 0.30% | 3,569,264 SH | Sept. 11, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.27% | 54,955 SH | Oct. 2, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.25% | 259,565 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.24% | 403,448 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.21% | 1,292,477 SH | Aug. 19, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.21% | 244,809 NS | July 31, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.20% | 342,876 SH | Oct. 2, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.19% | 5,190,000 | Oct. 2, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.18% | 13,618 NS | July 31, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.17% | 321,552 SH | Aug. 19, 2026 | Daily |
| SMDX · Tidal Trust III | 0.15% | 17,181 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.15% | 9,682,518 SH | Sept. 11, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 91,304 NS | July 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.13% | 287,285 SH | Oct. 2, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.12% | 2,172,238 SH | Aug. 19, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.09% | 43,777 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.09% | 1,148,722 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.08% | 5,381,439 SH | Aug. 19, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | 0.08% | 50,871 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.07% | 55,517 SH | Sept. 11, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.05% | 8,480,138 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.05% | 594,613 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.05% | 95,824 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.04% | 22,652 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 4,240,281 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.03% | 59,408 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.02% | 800,402 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.01% | 28,574 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 6,190 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 29,635 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 11,751,337 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 31,125 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 83,131 SH | Aug. 19, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.01% | 86,369 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 124,671 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 515,585 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 90,996 SH | Sept. 10, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 280,493 SH | Aug. 19, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 14, 2026 | Daily |
| IJR · iShares Trust | · | 22,556,317 SH | Sept. 10, 2026 | Daily |
| IJT · iShares Trust | · | 2,069,072 SH | Sept. 9, 2026 | Daily |
| IJS · iShares Trust | · | 1,350,489 SH | Sept. 8, 2026 | Daily |
| IAI · iShares Trust | · | 455,754 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 51,139 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 15,496 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 38,193 SH | Sept. 11, 2026 | Daily |
BGC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
2 analysts · 2026-09-28Mean target $15.50 +31.6%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BGC | · | 28.8 | 30.0% | · | · | · |
| PJT | · | · | 14.8% | 10.5% | 72.7% | · |
| LAZ | · | 22.4 | 1.5% | 7.4% | 31.4% | · |
| LCLN | · | · | · | · | · | · |
| SECZ | · | · | · | · | · | · |
| PWP | · | 36.8 | -14.5% | 4.7% | -15.9% | · |
| OPY | · | 5.5 | 14.3% | 9.1% | 16.2% | · |
| BTGO | · | · | · | · | · | · |
| RILY | $143M | 0.5 | 29.6% | 31.8% | -93.2% | · |
| MS | $281.00B | 17.4 | 14.4% | 23.9% | 15.6% | · |
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