BGC
BGC Group, Inc
BGC has the edge over BLK overall, supported by stronger valuation and stronger modeled upside.
BLK
BlackRock, Inc.
BLK trails on the overall score without a compensating advantage in the available component scores.
BGC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
BGC's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like BGC.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
BGC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 7.2x | $11.14 | — |
| Cheap | 22x | $10.67 | -4.2% |
| Current | 23x | $11.14 | — |
| Fair | 36x | $17.43 | +56% |
| Expensive | 68x | $33.15 | +198% |
Historical ranges are pointers, not guarantees.
BGC has the edge over BLK in the historical PE scenario, which offers more potential upside but is not a forecast.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK's PE is in its expensive range at 28x.
BGC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for BGC, with profitability improving.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
BGC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.54 | +215% |
| Q3 2026 | $0.49 | +53% |
| Q2 2026 | $0.41 | +41% |
| Q1 2026 | $0.37 | +42% |
| Q4 2025 | $0.31 | +24% |
| Q3 2025 | $0.32 | +28% |
| Q2 2025 | $0.29 | +16% |
| Q1 2025 | $0.26 | +117% |
| Q4 2024 | $0.25 | +257% |
BGC has the edge over BLK on earnings, with more consistent year-over-year improvement.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
BGC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $832.6M | +13% |
| Q2 2026 | $845.5M | +7.8% |
| Q1 2026 | $955.5M | +44% |
| Q4 2025 | $756.4M | +32% |
| Q3 2025 | $736.8M | +31% |
| Q2 2025 | $784M | +42% |
| Q1 2025 | $664.2M | +15% |
| Q4 2024 | $572.3M | +11% |
BGC's revenue has grown year over year for 15 quarters in a row: $833M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +7.2 points |
| Q2 2026 | 12% | +2.1 points |
| Q1 2026 | 12% | 0 points |
| Q4 2025 | 3.3% | -1.5 points |
| Q3 2025 | 4.5% | +1 points |
| Q2 2025 | 9.6% | -0.4 points |
| Q1 2025 | 12% | -0.3 points |
| Q4 2024 | 4.8% | -1.4 points |
BGC's operating margin was 12% last quarter, up 7.2 points from the same quarter a year ago.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK's revenue has grown year over year for 13 quarters in a row: $7.8B last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK has the edge over BGC on profitability, with a higher operating margin.
BGC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $205.9M | +50% |
| Q2 2026 | $156.7M | +141% |
| Q1 2026 | $15.4M | +$19.8M |
| Q4 2025 | $175.1M | -29% |
| Q3 2025 | $137.2M | +74% |
| Q2 2025 | $65M | +$128.4M |
| Q1 2025 | -$4.4M | -118% |
| Q4 2024 | $245.6M | +46% |
BGC has the edge over BLK on cash flow, with more consistent year-over-year improvement.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK's free cash flow was $4.8B over the past year, up 22% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BLK.
BGC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -2.6M shares |
| 1 year | -0.4% | -2.1M shares |
| 3 years | -0.3% | -1.2M shares |
| 5 years | -14% | -80.7M shares |
| Available history | +38% | +132M shares |
BGC has 476M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $121.3M |
| Q2 2026 | $112.4M |
| Q1 2026 | $2.3M |
| Q4 2025 | $68M |
| Q3 2025 | $41.9M |
| Q2 2025 | $148.5M |
| Q1 2025 | $23.1M |
| Q4 2024 | $50M |
BGC spent $304M buying back its own shares over the past year, up 15% from the year before.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has 165M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
BGC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.2x | Moderate |
| Q2 2026 | 2.7x | Moderate |
| Q1 2026 | 2.8x | Moderate |
| Q4 2025 | 3.0x | Moderate |
| Q3 2025 | 3.4x | Elevated |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 2.7x | Moderate |
| Q4 2024 | 2.5x | Moderate |
BGC's net debt is about 2.1 years of its operating earnings (EBITDA), down from 3.4 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BGC.
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has the edge over BGC on leverage, with a lower net debt burden relative to earnings.
BGC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 34.5 | Neutral |
BGC's weekly RSI is 49 (neutral) and its Stochastic is 34 (neutral).
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
BGC PE vs Financial Services Sector
| Metric | BGC | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 13x | 75% above |
| PE % | 16 | 63 | 47 pts below |
BGC has the edge over BLK on valuation relative to its sector.
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK is trading at 28x earnings, a 113% premium to the Financial Services sector's median of 13x.
BGC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.4 | 2.5% below |
| 20 week MA | $11.5 | 3% below |
| 50 week MA | $10.6 | 4.9% above |
| 100 week MA | $10.0 | 11% above |
| 200 week MA | $8.45 | 32% above |
BGC has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 32% above its 200-week average.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK has the edge over BGC on trend strength, trading above more of its moving averages.
BGC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.90 | $4.15 | -30% |
| 2021 | $4.15 | $4.62 | +11% |
| 2022 | $4.62 | $3.83 | -17% |
| 2023 | $3.83 | $7.22 | +89% |
| 2024 | $7.22 | $9.10 | +26% |
| 2025 | $9.10 | $9.09 | -0.1% |
| 2026 YTD | $9.09 | $11.1 | +23% |
BGC has the edge over BLK on returns for 2026, with the stronger performance.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has finished higher in five of the last six years. It's up 12% so far in 2026.