BGC Group, Inc (BGC) Balance Sheet
BGC balance sheet, 2025
December 31, 2025 · U.S. dollars$4.41B assets = $3.26B liabilities + $1.15B equity
Both columns are drawn to the same scale: what BGC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BGC financial health
Descriptive bands, not a rating. Fiscal 2025.
BGC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.05B2016 | $4.41B2025 | −1.5%/yr | |
| Total liabilities | $3.41B2016 | $3.26B2025 | −0.5%/yr | |
| Shareholders’ equity | $1.18B2016 | $972.5M2025 | −2.2%/yr | |
| Cash & short-term investments | $571.0M2016 | $873.7M2025 | +4.8%/yr | |
| Total debt | $1.91B2016 | $1.80B2025 | −0.7%/yr | |
| Net cash (debt) | −$1.34B2016 | −$922.0M2025 | +$420.7M | |
| Working capital | $1.11B2016 | $1.76B2025 | +$648.7M | |
| Book value per share | $2.732016 | $2.022025 | −3.3%/yr | |
| Debt / equity | 1.622016 | 1.852025 | +0.23 | |
| Shares outstanding | 433.2M2016 | 480.9M2025 | +1.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BGC assets
BGC liabilities and equity
BGC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BGC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $873.7M | $711.6M | $655.6M | $485.0M | $553.6M | $654.9M | $472.9M | $394.9M | $546.3M | $571.0M |
| Cash & equivalents | $873.7M | $711.6M | $655.6M | $485.0M | $553.6M | $596.3M | $415.4M | $336.5M | $513.3M | $535.6M |
| Short-term investments | — | — | — | −$83.6M | $40.8M | $58.6M | $57.5M | $58.4M | $33.0M | $35.4M |
| Receivables | $909.1M | $1.09B | $720.6M | $880.7M | $1.41B | $1.49B | $1.69B | $1.70B | $1.28B | $1.17B |
| Inventory | $0 | $0 | −$3.13B | −$3.06B | −$3.33B | −$3.70B | −$3.71B | −$32.1M | $736.1M | $768.2M |
| Other current assets | $0 | $54.2M | $2.41B | $3.44B | $3.37B | $3.75B | $3.75B | $74.1M | $0 | $0 |
| Total current assets | $1.78B | $1.85B | $655.6M | $1.75B | $2.00B | $2.20B | $2.20B | $2.14B | $1.86B | $1.79B |
| Property, plant & equipment (net) | $182.1M | $304.5M | $302.5M | $313.3M | $326.4M | $382.0M | $373.9M | $157.2M | $124.5M | $167.2M |
| Goodwill & intangible assets | $1.08B | $781.2M | $717.6M | $679.4M | $694.7M | $843.4M | $857.0M | $803.4M | $754.1M | $1.46B |
| Long-term investments | $329.9M | $361.3M | $169.7M | $77.9M | $33.4M | $38.4M | $51.9M | $0 | $0 | $0 |
| Other non-current assets | $1.04B | $291.3M | $1.33B | $259.4M | $283.1M | $493.5M | $445.1M | $333.1M | $2.69B | $1.63B |
| Total assets | $4.41B | $3.59B | $3.18B | $3.07B | $3.34B | $3.95B | $3.93B | $3.43B | $5.43B | $5.05B |
| Liabilities | ||||||||||
| Accounts payable | $1.1M | $0 | $76,000 | $1.6M | $1.34B | $11.8M | $11.9M | $12.0M | $32.2M | $30.0M |
| Short-term debt | $20.0M | $195.8M | $239.2M | $1.9M | $3.6M | $3.8M | $73.9M | $6.1M | $6.0M | $258.0M |
| Deferred revenue | — | — | −$1.18B | — | — | — | — | — | — | — |
| Total current liabilities | $20.0M | $973.7M | $929.1M | $900.1M | $1.19B | $906.6M | $976.5M | $484.4M | $464.0M | $677.7M |
| Long-term debt | $1.54B | $1.14B | $1.18B | $1.05B | $1.05B | $1.32B | $1.16B | $0 | $0 | $0 |
| Lease obligations | $197.0M | $139.1M | $154.4M | $162.1M | $169.2M | $190.2M | $187.4M | — | — | — |
| Other long-term liabilities | $1.70B | $397.3M | $165.2M | $392.5M | $433.4M | $919.4M | $1.07B | $2.09B | $3.83B | $2.74B |
| Total liabilities | $3.26B | $2.51B | $2.28B | $2.34B | $2.68B | $3.14B | $3.20B | $2.57B | $4.29B | $3.41B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $5.6M | $5.3M | $5.1M | $5.2M | $4.8M | $4.2M | $4.0M | $3.9M | $43.9M | $45.7M |
| Retained earnings (deficit) | −$910.4M | −$1.03B | −$1.12B | −$1.14B | −$1.17B | −$1.28B | −$1.25B | −$1.11B | −$859.0M | −$212.9M |
| Accumulated other comprehensive income | −$40.6M | −$59.8M | −$38.6M | −$45.4M | −$40.5M | −$28.9M | −$33.1M | −$24.5M | −$10.5M | −$23.2M |
| Minority interest | $172.9M | $180.7M | $13.1M | $63.6M | — | — | — | — | — | — |
| Total shareholders' equity | $972.5M | $898.5M | $885.1M | $669.6M | $619.8M | $754.2M | $674.6M | $768.4M | $633.9M | $1.18B |
| Key figures | ||||||||||
| Total debt | $1.80B | $1.48B | $1.34B | $1.21B | $1.23B | $1.51B | $1.35B | $785.8M | $725.8M | $1.91B |
| Net cash (debt) | −$922.0M | −$765.0M | −$682.2M | −$728.3M | −$672.0M | −$855.1M | −$876.0M | −$390.9M | −$179.5M | −$1.34B |
| Working capital | $1.76B | $880.0M | −$273.4M | $845.0M | $811.9M | $1.29B | $1.22B | $1.65B | $1.40B | $1.11B |
| Tangible book value | −$104.1M | $117.3M | $167.5M | −$9.7M | −$74.9M | −$89.1M | −$182.3M | −$35.1M | −$120.3M | −$273.3M |
| Book value per share | $2.02 | $1.88 | $1.81 | $1.34 | $1.15 | $1.38 | $1.29 | $2.37 | $1.40 | $2.73 |
| Shares outstanding | 480.9M | 479.1M | 490.0M | 499.4M | 540.0M | 546.8M | 524.5M | 323.8M | 454.3M | 433.2M |
| Current ratio | 89.14 | 1.90 | 0.71 | 1.94 | 1.68 | 2.42 | 2.25 | 4.42 | 4.01 | 2.64 |
| Quick ratio | 89.14 | 1.85 | 1.48 | 1.52 | 1.64 | 2.37 | 2.21 | 4.33 | 3.93 | 2.57 |
| Debt / equity | 1.85 | 1.64 | 1.51 | 1.81 | 1.98 | 2.00 | 2.00 | 1.02 | 1.14 | 1.62 |
| Equity / assets | 22.1% | 25.0% | 27.9% | 21.8% | 18.5% | 19.1% | 17.2% | 22.4% | 11.7% | 23.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $881.1M | $22.1M | $873.7M | $774.9M | $827.8M | $966.4M | $711.6M | $563.5M | $571.7M | $566.8M | $655.6M | $559.6M |
| Cash & equivalents | $786.6M | $22.1M | $873.7M | $774.9M | $827.8M | $966.4M | $711.6M | $563.5M | $571.7M | $566.8M | $655.6M | $559.6M |
| Short-term investments | $94.5M | — | — | — | — | — | — | $20.0M | — | — | — | — |
| Receivables | $2.82B | $1.83B | $909.1M | $2.91B | $1.96B | $2.09B | $1.09B | $2.08B | $1.99B | $2.26B | $720.6M | $1.85B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.52B | $1.44B | $2.12B |
| Other current assets | $0 | $1.25B | $0 | $24.3M | $14.2M | $19.4M | $54.2M | $20.0M | $14.5M | $0 | $0 | $0 |
| Total current assets | $3.70B | $3.11B | $1.78B | $3.71B | $2.80B | $3.08B | $1.85B | $2.67B | $2.58B | $2.85B | $1.75B | $2.42B |
| Property, plant & equipment (net) | $180.0M | $181.0M | $182.1M | $192.6M | $189.5M | $189.5M | $304.5M | $188.2M | $182.9M | $176.8M | $302.5M | $176.4M |
| Goodwill & intangible assets | $1.06B | $1.07B | $1.08B | $1.08B | $1.07B | $776.6M | $781.2M | $703.0M | $707.2M | $712.9M | $717.6M | $697.3M |
| Long-term investments | $146.6M | $145.8M | $329.9M | $188.7M | $183.0M | $221.4M | $361.3M | $254.2M | $234.9M | $89.1M | $169.7M | $81.2M |
| Other non-current assets | $666.8M | $1.36B | $1.04B | $646.4M | $650.4M | $621.2M | $291.3M | $569.4M | $555.2M | $549.4M | $239.2M | $481.4M |
| Total assets | $5.75B | $5.86B | $4.41B | $5.83B | $4.89B | $4.88B | $3.59B | $4.38B | $4.26B | $4.38B | $3.18B | $3.86B |
| Liabilities | ||||||||||||
| Accounts payable | $814.0M | $790.0M | $1.1M | $821.9M | $778.3M | $696.1M | $0 | $694.7M | $657.4M | $664.3M | $76,000 | $627.2M |
| Short-term debt | $1.77B | — | $20.0M | $20.0M | $81.7M | $546.3M | $195.8M | $310.8M | $323.8M | $275.0M | $239.2M | $238.9M |
| Deferred revenue | — | — | — | — | — | — | — | — | $910.5M | — | −$33.3M | −$9.7M |
| Total current liabilities | $4.48B | $2.69B | $20.0M | $2.54B | $1.64B | $2.41B | $973.7M | $1.70B | $1.57B | $2.33B | $929.1M | $1.88B |
| Long-term debt | $1.54B | $1.54B | $1.54B | $1.84B | $1.84B | $1.14B | $1.14B | $1.44B | $1.45B | $945.0M | $1.18B | $1.18B |
| Lease obligations | — | — | $197.0M | — | — | — | $139.1M | — | — | — | $154.4M | — |
| Other long-term liabilities | $2.94B | $3.05B | $1.70B | $309.0M | $311.8M | $189.9M | $397.3M | $194.1M | $195.6M | $173.0M | $165.2M | $0 |
| Total liabilities | $4.48B | $4.59B | $3.26B | $4.68B | $3.78B | $3.74B | $2.51B | $3.34B | $3.22B | $3.45B | $2.28B | $3.00B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.1M | $1.1M | $5.6M | $5.5M | $5.5M | $5.4M | $5.3M | $5.3M | $5.2M | $5.2M | $5.1M | $5.1M |
| Retained earnings (deficit) | −$773.1M | −$836.0M | −$910.4M | −$915.1M | −$933.2M | −$981.1M | −$1.03B | −$1.04B | −$1.05B | −$1.07B | −$1.12B | −$1.13B |
| Accumulated other comprehensive income | −$39.4M | −$40.4M | −$40.6M | −$39.8M | −$41.1M | −$53.7M | −$59.8M | −$45.6M | −$49.9M | −$43.3M | −$38.6M | −$45.8M |
| Minority interest | $168.4M | $172.1M | $172.9M | $176.4M | $178.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.11B | $1.10B | $972.5M | $965.3M | $930.5M | $963.8M | $898.5M | $860.1M | $858.1M | $912.1M | $885.1M | $844.1M |
| Key figures | ||||||||||||
| Total debt | $1.77B | $1.78B | $1.80B | $1.84B | $1.92B | $1.69B | $1.48B | $1.44B | $1.45B | $1.22B | $1.34B | $1.18B |
| Net cash (debt) | −$892.9M | −$1.75B | −$922.0M | −$1.06B | −$1.09B | −$722.3M | −$765.0M | −$879.2M | −$875.6M | −$653.2M | −$682.2M | −$623.9M |
| Working capital | −$777.3M | $416.1M | $1.76B | $1.18B | $1.16B | $666.5M | $880.0M | $965.0M | $1.00B | $514.7M | $817.9M | $543.4M |
| Tangible book value | $47.9M | $32.9M | −$104.1M | −$119.3M | −$141.0M | $187.2M | $117.3M | $157.2M | $150.9M | $199.2M | $167.5M | $146.8M |
| Book value per share | $2.31 | $2.31 | $2.05 | $1.99 | $1.92 | $1.98 | $1.88 | $1.80 | $1.78 | $1.91 | $1.86 | $1.77 |
| Shares outstanding | 479.1M | 475.3M | 475.3M | 484.6M | 484.6M | 485.5M | 479.1M | 478.7M | 480.9M | 478.0M | 476.5M | 477.5M |
| Current ratio | 0.83 | 1.15 | 89.14 | 1.46 | 1.71 | 1.28 | 1.90 | 1.57 | 1.64 | 1.22 | 1.88 | 1.29 |
| Quick ratio | 0.83 | 0.69 | 89.14 | 1.45 | 1.70 | 1.27 | 1.85 | 1.56 | 1.63 | 1.21 | 1.48 | 1.28 |
| Debt / equity | 1.60 | 1.62 | 1.85 | 1.90 | 2.06 | 1.75 | 1.64 | 1.68 | 1.69 | 1.34 | 1.51 | 1.40 |
| Equity / assets | 19.2% | 18.8% | 22.1% | 16.6% | 19.0% | 19.7% | 25.0% | 19.6% | 20.1% | 20.8% | 27.9% | 21.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
BGC financial position
At the end of fiscal 2025 (December 31, 2025), BGC had total assets of $4.4 billion (up 22.7% from a year earlier), total liabilities of $3.3 billion and shareholders' equity of $972.5 million. It held $873.7 million in cash and short-term investments against $1.8 billion of debt, net debt of $922.0 million. Its current ratio was 89.14. In the latest quarter (ended June 30, 2026) total assets were $5.8 billion and equity $1.1 billion.
Related: BGC income statement, BGC cash flow statement, BGC key metrics. See the BGC stock overview for the latest quote and news.
BGC balance sheet FAQ
What are BGC's total assets?
BGC reported total assets of $4.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.6 billion a year earlier.
How much debt does BGC have?
BGC had $1.8 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.85.
How much cash does BGC have?
BGC held $873.7 million in cash and short-term investments at the end of fiscal 2025; with $1.8 billion of debt that is net debt of $922.0 million.
What is BGC's book value?
BGC's shareholders' equity (book value) was $972.5 million at the end of fiscal 2025, or $2.02 per share.
What is BGC's current ratio?
BGC had current assets of $1.8 billion and current liabilities of $20.0 million, a current ratio of 89.14 (it can cover its short-term obligations).
How much goodwill does BGC have?
BGC carried $1.1 billion of goodwill and intangible assets, 24.4% of total assets, at the end of fiscal 2025.