BGC
BGC Group, Inc
BGC has the edge over GS overall, supported by stronger valuation and stronger modeled upside.
GS
The Goldman Sachs Group, Inc.
GS's outlook is improving, though it still trails on the overall score.
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.
GS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
GS's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like GS.
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 GS in the historical PE scenario, which offers more potential upside but is not a forecast.
GS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.6x | $528 | -42% |
| Current | 13x | $914 | — |
| Forward | 13x | $914 | — |
| Fair | 14x | $940 | +2.9% |
| Expensive | 17x | $1,214 | +33% |
Historical ranges are pointers, not guarantees.
GS's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
BGC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
BGC has the edge over GS on the outlook, with more favorable valuation expectations.
GS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for GS, with profitability improving. However, they disagree widely on these estimates.
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's earnings per share have climbed steadily: $0.49 over the past year, up 53% from the year before, and higher year over year for 11 quarters in a row.
GS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $72.35 | +4% |
| Q3 2026 | $69.58 | +41% |
| Q2 2026 | $64.82 | +43% |
| Q1 2026 | $54.75 | +27% |
| Q4 2025 | $51.32 | +27% |
| Q3 2025 | $49.22 | +44% |
| Q2 2025 | $45.37 | +45% |
| Q1 2025 | $43.08 | +68% |
| Q4 2024 | $40.54 | +77% |
GS has the edge over BGC on earnings, with stronger typical year-over-year growth.
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 has the edge over GS on sales, with more consistent year-over-year improvement.
| 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.
GS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $18.7B | +23% |
| Q2 2026 | $20.3B | +39% |
| Q1 2026 | $17.2B | +14% |
| Q4 2025 | $13.5B | -3% |
| Q3 2025 | $15.2B | +20% |
| Q2 2025 | $14.6B | +15% |
| Q1 2025 | $15.1B | +6% |
| Q4 2024 | $13.9B | +23% |
GS's revenue is growing: $18.7B last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 37% | +2 points |
| Q2 2026 | 42% | +8.1 points |
| Q1 2026 | 38% | +0.2 points |
| Q4 2025 | 44% | +5.6 points |
| Q3 2025 | 36% | +4.1 points |
| Q2 2025 | 34% | +3.2 points |
| Q1 2025 | 37% | +0.6 points |
| Q4 2024 | 38% | +18 points |
GS 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 GS on cash generation, producing positive trailing cash flow while its opponent burns cash.
GS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +72% |
| Q2 2026 | $5.6B | +7.8% |
| Q1 2026 | -$32.4B | +$5.3B |
| Q4 2025 | -$16.8B | -136% |
| Q3 2025 | $2.1B | +$40.6B |
| Q2 2025 | $5.2B | -6.8% |
| Q1 2025 | -$37.7B | -$9.2B |
| Q4 2024 | $46.2B | +$75.1B |
GS's free cash flow was −$40B over the past year, against $15.8B the year before. Free cash flow isn't a meaningful measure for financial services companies like GS.
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.
GS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -3.8M shares |
| 1 year | -4.4% | -13.9M shares |
| 3 years | -12% | -42.8M shares |
| 5 years | -15% | -52.8M shares |
| Available history | -20% | -74.4M shares |
GS has the edge over BGC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3B |
| Q2 2026 | $4B |
| Q1 2026 | $5B |
| Q4 2025 | $3B |
| Q3 2025 | $2B |
| Q2 2025 | $3B |
| Q1 2025 | $4.4B |
| Q4 2024 | $2B |
GS spent $15B buying back its own shares over the past year, up 32% from the year before.
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.
GS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.4x | Net Cash |
| Q2 2026 | -6.1x | Net Cash |
| Q1 2026 | -6.7x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -3.5x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.9x | Net Cash |
| Q4 2024 | -4.7x | Net Cash |
GS 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).
GS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.5 | Neutral |
| Stochastic | 16.3 | Oversold |
GS's weekly RSI is 45 (neutral) and its Stochastic is 16 (oversold).
BGC PE vs Financial Services Sector
| Metric | BGC | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 13x | 75% above |
| PE % | 16 | 63 | 47 pts below |
BGC is trading at 23x earnings, a 75% premium to the Financial Services sector's median of 13x.
GS PE vs Financial Services Sector
| Metric | GS | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.8% above |
| PE % | 46 | 63 | 17 pts below |
GS has the edge over BGC on valuation relative to its sector.
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.
GS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $895.5 | 2% above |
| 20 week MA | $977.4 | 6.5% below |
| 50 week MA | $945.4 | 3.4% below |
| 100 week MA | $804.5 | 14% above |
| 200 week MA | $602.7 | 52% above |
GS's trend is mixed: it's above three of its five weekly moving averages, and 52% above its 200-week average.
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 GS on returns for 2026, with the stronger performance.
GS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $230.7 | $256.2 | +11% |
| 2021 | $256.2 | $385.0 | +50% |
| 2022 | $385.0 | $345.5 | -10% |
| 2023 | $345.5 | $385.8 | +12% |
| 2024 | $385.8 | $576.2 | +49% |
| 2025 | $576.2 | $907.0 | +57% |
| 2026 YTD | $907.0 | $913.6 | +0.7% |
GS has finished higher in five of the last six years, two of them by more than 50%. It's up 0.7% so far in 2026.