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BGC vs Marex: revenue, profit, margins and growth compared

BGC brought in $2.9B of revenue in fiscal 2025, Marex $2B in fiscal 2025. Revenue changed by +30.0% at BGC and +26.9% at Marex on the year before, so BGC grew faster. BGC kept 5.3% of its revenue as net profit, Marex 14.5%. Free cash flow was $372.9M at BGC and $654.4M at Marex.

Side by side, latest fiscal year

BGCMRX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.9B$2B
Revenue growth+30.0%+26.9%
Net income$155M$293.9M
Net margin5.3%14.5%
Free cash flow$372.9M$654.4M
Free cash flow margin12.7%32.3%
Earnings per share (diluted)$0.31$3.86
Cash$851.5M$2.9B
Debt$1.5B$200M
Price to earnings38.2n/a
Market value$5.6Bn/a
Dividend yield0.68%n/a
Rank by revenue in sector#123 of 444 · Finance#144 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: $2.9BMRX FY2022: $711.1MMRX FY2024: $1.2BMRX FY2024: $1.6BMRX FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
BGC $2.9BMRX $2B
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: $155MMRX FY2022: $91.6MMRX FY2024: $128MMRX FY2024: $204.7MMRX FY2025: $293.9MFY18FY19FY20FY21FY22FY23FY24FY25
BGC $155MMRX $293.9M
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%MRX FY2022: 12.9%MRX FY2024: 10.3%MRX FY2024: 12.8%MRX FY2025: 14.5%FY18FY19FY20FY21FY22FY23FY24FY25
BGC 5.3%MRX 14.5%
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%MRX FY2024: +75.0%MRX FY2024: +28.1%MRX FY2025: +26.9%FY19FY20FY21FY22FY23FY24FY25
BGC +30.0%MRX +26.9%
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: $372.9MMRX FY2022: $222MMRX FY2024: $726MMRX FY2024: $1.2BMRX FY2025: $654.4MFY18FY19FY20FY21FY22FY23FY24FY25
BGC $372.9MMRX $654.4M

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

Questions about BGC and Marex

Which is bigger by revenue, BGC or Marex?

BGC is bigger by revenue: $2.9B in fiscal 2025, against $2B for Marex in fiscal 2025.

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

BGC had a net margin of 5.3% in fiscal 2025; Marex had 14.5% in fiscal 2025.

Which grew revenue faster, BGC or Marex?

In their latest fiscal years revenue changed by +30.0% at BGC and +26.9% at Marex.

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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