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BGC vs Intercontinental Exchange: revenue, profit, margins and growth compared

BGC brought in $2.9B of revenue in fiscal 2025, Intercontinental Exchange $12.6B in fiscal 2025. Revenue changed by +30.0% at BGC and +7.5% at Intercontinental Exchange on the year before, so BGC grew faster. BGC kept 5.3% of its revenue as net profit, Intercontinental Exchange 26.2%. Free cash flow was $372.9M at BGC and $4.3B at Intercontinental Exchange.

Side by side, latest fiscal year

BGCICE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.9B$12.6B
Revenue growth+30.0%+7.5%
Net income$155M$3.3B
Net margin5.3%26.2%
Free cash flow$372.9M$4.3B
Free cash flow margin12.7%33.9%
Earnings per share (diluted)$0.31$5.77
Cash$851.5M$837M
Debt$1.5B$19.6B
Price to earnings38.226.7
Market value$5.6B$86.6B
Dividend yield0.68%1.24%
Rank by revenue in sector#123 of 444 · Finance#55 of 444 · Finance

Over the years

Revenue
BGC FY2018: $1.9BBGC FY2019: $2.1BBGC FY2020: $2.1BBGC FY2021: $2BBGC FY2022: $1.8BBGC FY2023: $2BBGC FY2024: $2.3BBGC FY2025: $2.9BICE FY2018: $6.3BICE FY2019: $6.5BICE FY2020: $8.2BICE FY2021: $9.2BICE FY2022: $9.6BICE FY2023: $9.9BICE FY2024: $11.8BICE FY2025: $12.6BFY18FY19FY20FY21FY22FY23FY24FY25
BGC $2.9BICE $12.6B
Net income
BGC FY2018: $202.2MBGC FY2019: $43.9MBGC FY2020: $50.9MBGC FY2021: $153.5MBGC FY2022: $58.9MBGC FY2023: $38.8MBGC FY2024: $123.2MBGC FY2025: $155MICE FY2018: $2BICE FY2019: $1.9BICE FY2020: $2.1BICE FY2021: $4.1BICE FY2022: $1.4BICE FY2023: $2.4BICE FY2024: $2.8BICE FY2025: $3.3BFY18FY19FY20FY21FY22FY23FY24FY25
BGC $155MICE $3.3B
Net margin
BGC FY2018: 10.4%BGC FY2019: 2.1%BGC FY2020: 2.5%BGC FY2021: 7.6%BGC FY2022: 3.3%BGC FY2023: 1.9%BGC FY2024: 5.4%BGC FY2025: 5.3%ICE FY2018: 31.7%ICE FY2019: 29.5%ICE FY2020: 25.3%ICE FY2021: 44.3%ICE FY2022: 15.0%ICE FY2023: 23.9%ICE FY2024: 23.4%ICE FY2025: 26.2%FY18FY19FY20FY21FY22FY23FY24FY25
BGC 5.3%ICE 26.2%
Revenue growth
BGC FY2019: +8.6%BGC FY2020: -2.3%BGC FY2021: -2.0%BGC FY2022: -10.9%BGC FY2023: +12.8%BGC FY2024: +11.7%BGC FY2025: +30.0%ICE FY2019: +4.3%ICE FY2020: +25.9%ICE FY2021: +11.2%ICE FY2022: +5.1%ICE FY2023: +2.8%ICE FY2024: +18.8%ICE FY2025: +7.5%FY19FY20FY21FY22FY23FY24FY25
BGC +30.0%ICE +7.5%
Free cash flow
BGC FY2018: -$91.9MBGC FY2019: $194.4MBGC FY2020: $271.8MBGC FY2021: $407.1MBGC FY2022: $213.8MBGC FY2023: $390.3MBGC FY2024: $285.7MBGC FY2025: $372.9MICE FY2018: $2.4BICE FY2019: $2.5BICE FY2020: $2.7BICE FY2021: $2.9BICE FY2022: $3.3BICE FY2023: $3.4BICE FY2024: $4.2BICE FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
BGC $372.9MICE $4.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about BGC and Intercontinental Exchange

Which is bigger by revenue, BGC or Intercontinental Exchange?

Intercontinental Exchange is bigger by revenue: $12.6B in fiscal 2025, against $2.9B for BGC in fiscal 2025.

Which keeps more of its revenue as profit, BGC or Intercontinental Exchange?

BGC had a net margin of 5.3% in fiscal 2025; Intercontinental Exchange had 26.2% in fiscal 2025.

Which grew revenue faster, BGC or Intercontinental Exchange?

In their latest fiscal years revenue changed by +30.0% at BGC and +7.5% at Intercontinental Exchange.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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