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BGC Partners

DB:ESDA
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ESDA
DB
$941M
Imp Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

BGC Partners, Inc. operates as a brokerage and financial technology company worldwide. The last earnings update was 34 days ago. More info.


Add to Portfolio Compare Print
  • BGC Partners has significant price volatility in the past 3 months.
ESDA Share Price and Events
7 Day Returns
-32.7%
DB:ESDA
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-58.9%
DB:ESDA
-11.8%
DE Capital Markets
-20.4%
DE Market
ESDA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BGC Partners (ESDA) -32.7% -53.5% -61.2% -58.9% -80.1% -77.2%
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • ESDA underperformed the Capital Markets industry which returned -11.8% over the past year.
  • ESDA underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
ESDA
Industry
5yr Volatility vs Market

ESDA Value

 Is BGC Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BGC Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BGC Partners.

DB:ESDA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $2.38 * 7.3%
$0.17
Book Value of Equity per Share Median Book Value from the past 5 years. $2.38
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:ESDA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 21%) (143.4%))
1.397
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.4
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.397 * 5.44%)
7.21%

Discounted Cash Flow Calculation for DB:ESDA using Excess Returns Model Model

The calculations below outline how an intrinsic value for BGC Partners is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:ESDA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.3% – 7.21%) * $2.38)
$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.00 / (7.21% - -0.39%)
$0.01
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $2.38 + $0.01
$2.4
DB:ESDA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ESDA represents 0.91403x of NasdaqGS:BGCP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.91403x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 2.40 x 0.91403
€2.19
Value per share (EUR) From above. €2.19
Current discount Discount to share price of €2.02
= -1 x (€2.02 - €2.19) / €2.19
7.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price BGC Partners is available for.
Intrinsic value
8%
Share price is €2.02 vs Future cash flow value of €2.19
Current Discount Checks
For BGC Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BGC Partners's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • BGC Partners's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BGC Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BGC Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ESDA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.16
NasdaqGS:BGCP Share Price ** NasdaqGS (2020-04-02) in USD $2.21
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BGC Partners.

DB:ESDA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:BGCP Share Price ÷ EPS (both in USD)

= 2.21 ÷ 0.16

13.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BGC Partners is good value based on earnings compared to the DE Capital Markets industry average.
  • BGC Partners is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does BGC Partners's expected growth come at a high price?
Raw Data
DB:ESDA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for BGC Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BGC Partners's assets?
Raw Data
DB:ESDA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $1.94
NasdaqGS:BGCP Share Price * NasdaqGS (2020-04-02) in USD $2.21
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:ESDA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:BGCP Share Price ÷ Book Value per Share (both in USD)

= 2.21 ÷ 1.94

1.14x

* Primary Listing of BGC Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BGC Partners is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess BGC Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. BGC Partners has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ESDA Future Performance

 How is BGC Partners expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.8%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is BGC Partners expected to grow at an attractive rate?
  • BGC Partners's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • BGC Partners's earnings growth is expected to exceed the Germany market average.
  • BGC Partners's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ESDA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ESDA Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 14.8%
DB:ESDA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 4.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:ESDA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:ESDA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 2,660 1
2023-12-31 2,571 1
2022-12-31 2,486 1
2021-12-31 2,354 2
2020-12-31 2,256 2
2020-04-02
DB:ESDA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,045 239 56
2019-09-30 2,026 76 48
2019-06-30 1,965 -563 82
2019-03-31 1,910 -44 88
2018-12-31 1,894 -816 70
2018-09-30 726 -258 -202
2018-06-30 1,084 658 -151
2018-03-31 1,425 32 -118
2017-12-31 1,674 1,289 -125
2017-09-30 3,128 559 216
2017-06-30 3,041 241 221
2017-03-31 2,974 -54 209

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BGC Partners's earnings are expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).
  • BGC Partners's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:ESDA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from BGC Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ESDA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.37 0.37 0.37 1.00
2023-12-31 0.34 0.34 0.34 1.00
2022-12-31 0.30 0.30 0.30 1.00
2021-12-31 0.26 0.26 0.26 1.00
2020-12-31 0.22 0.22 0.22 1.00
2020-04-02
DB:ESDA Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.16
2019-09-30 0.14
2019-06-30 0.24
2019-03-31 0.27
2018-12-31 0.22
2018-09-30 -0.65
2018-06-30 -0.50
2018-03-31 -0.40
2017-12-31 -0.43
2017-09-30 0.76
2017-06-30 0.78
2017-03-31 0.75

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if BGC Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess BGC Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BGC Partners has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ESDA Past Performance

  How has BGC Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BGC Partners's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BGC Partners's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • BGC Partners's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BGC Partners's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
BGC Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BGC Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ESDA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,045.15 55.71 1,647.68
2019-09-30 2,025.87 48.25 1,628.52
2019-06-30 1,964.91 81.97 1,557.41
2019-03-31 1,909.72 88.20 1,504.31
2018-12-31 1,893.58 70.33 1,508.63
2018-09-30 725.89 -202.05 638.17
2018-06-30 1,083.57 -150.71 950.83
2018-03-31 1,424.97 -117.63 1,216.39
2017-12-31 1,673.99 -124.80 1,448.33
2017-09-30 3,127.61 215.71 2,480.92
2017-06-30 3,040.99 221.40 2,421.90
2017-03-31 2,973.97 209.34 2,379.50
2016-12-31 1,496.69 -5.88 1,256.83
2016-09-30 2,758.94 200.13 2,443.43
2016-06-30 2,711.30 151.29 2,431.43
2016-03-31 2,606.61 119.77 2,387.58
2015-12-31 2,704.72 159.96 2,388.68
2015-09-30 2,329.81 43.09 1,998.60
2015-06-30 2,088.48 11.93 1,808.90
2015-03-31 1,845.76 10.18 1,609.88
2014-12-31 1,751.63 -3.05 1,536.44
2014-09-30 1,682.26 26.95 1,476.61
2014-06-30 1,650.26 45.07 1,429.09
2014-03-31 1,706.83 71.93 1,497.48
2013-12-31 1,706.65 70.92 1,494.97
2013-09-30 1,712.15 80.96 1,524.55
2013-06-30 1,747.69 55.18 1,555.28

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BGC Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BGC Partners used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if BGC Partners improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess BGC Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BGC Partners has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ESDA Health

 How is BGC Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BGC Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BGC Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BGC Partners's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BGC Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BGC Partners Company Filings, last reported 3 months ago.

DB:ESDA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 767.38 1,161.55 693.64
2019-09-30 824.10 1,125.20 697.88
2019-06-30 876.38 1,080.83 678.20
2019-03-31 903.79 1,042.76 588.26
2018-12-31 887.88 784.84 475.19
2018-09-30 1,940.43 2,606.33 590.74
2018-06-30 1,714.47 2,045.64 620.76
2018-03-31 1,486.71 2,605.99 782.41
2017-12-31 1,186.16 725.80 656.42
2017-09-30 932.88 2,758.73 718.06
2017-06-30 1,170.91 1,236.21 615.26
2017-03-31 1,192.63 1,055.55 557.06
2016-12-31 1,686.12 1,913.74 683.45
2016-09-30 1,243.47 969.11 667.48
2016-06-30 1,207.96 1,132.23 762.63
2016-03-31 1,224.92 838.64 494.63
2015-12-31 1,289.08 958.77 497.69
2015-09-30 1,036.52 970.77 464.20
2015-06-30 1,130.28 940.60 405.15
2015-03-31 983.76 1,111.61 460.73
2014-12-31 641.42 706.70 755.67
2014-09-30 701.85 411.93 464.77
2014-06-30 701.74 409.46 609.79
2014-03-31 747.04 408.63 693.87
2013-12-31 769.67 408.36 758.73
2013-09-30 808.50 422.99 869.10
2013-06-30 838.00 424.21 1,157.99
  • BGC Partners's level of debt (151.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (110.2% vs 151.4% today).
  • Debt is well covered by operating cash flow (20.6%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on BGC Partners's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess BGC Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BGC Partners has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ESDA Dividends

 What is BGC Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
18.1%
Current annual income from BGC Partners dividends.
If you bought €2,000 of BGC Partners shares you are expected to receive €362 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • BGC Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • BGC Partners's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:ESDA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:ESDA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-02
DB:ESDA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-26 0.400 16.058
2020-02-28 0.560 15.595
2020-02-06 0.560 10.595
2019-11-08 0.560 9.649
2019-10-24 0.560 10.358
2019-08-08 0.560 10.476
2019-07-25 0.560 10.583
2019-05-10 0.560 10.976
2019-05-07 0.560 10.943
2019-03-01 0.560 10.022
2019-02-14 0.560 9.007
2018-11-08 0.720 10.919
2018-10-25 0.720 6.595
2018-08-02 0.720 6.248
2018-05-10 0.720 6.259
2018-05-03 0.720 5.818
2018-02-22 0.720 5.340
2018-02-09 0.720 5.360
2017-11-08 0.720 4.752
2017-10-26 0.720 4.738
2017-08-08 0.720 5.192
2017-07-26 0.720 5.684
2017-05-10 0.720 5.884
2017-05-04 0.720 6.222
2017-02-28 0.640 5.720
2017-02-09 0.640 5.524
2016-11-09 0.640 6.198
2016-10-27 0.640 7.404
2016-08-08 0.640 7.217
2016-07-28 0.640 7.031
2016-05-09 0.640 7.202
2016-04-27 0.640 7.021
2016-02-29 0.560 6.161
2016-02-10 0.560 6.421
2015-11-09 0.560 6.143
2015-10-28 0.560 6.323
2015-08-10 0.560 6.423
2015-07-29 0.560 5.690
2015-05-11 0.560 6.159
2015-04-29 0.560 5.716
2015-02-11 0.480 5.149
2014-11-07 0.480 5.542
2014-10-30 0.480 5.679
2014-07-31 0.480 6.334
2014-05-01 0.480 6.531
2014-02-12 0.480 6.954
2013-11-07 0.480 7.961
2013-10-31 0.480 8.811
2013-08-08 0.480 8.522
2013-08-01 0.480 8.003
2013-05-09 0.480 8.111
2013-03-12 0.480 9.382
2013-02-14 0.480 11.161
2012-11-02 0.480 13.131
2012-08-08 0.680 14.241
2012-07-26 0.680 13.704
2012-05-03 0.680 11.118
2012-02-24 0.680 9.472
2011-10-27 0.680 10.836
2011-02-17 0.560 7.248
2010-03-16 0.320 4.992
2010-02-23 0.320 5.899
2009-11-03 0.320 7.381
2009-08-05 0.360 7.673
2009-05-07 0.360 10.055

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of BGC Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess BGC Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BGC Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BGC Partners has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ESDA Management

 What is the CEO of BGC Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Howard Lutnick
COMPENSATION $29,694,152
AGE 57
TENURE AS CEO 20.8 years
CEO Bio

Mr. Howard W. Lutnick is Chairman & CEO of Cantor Fitzgerald L.P., and Chairman & CEO of BGC Partners Inc. Mr. Lutnick guided the rebuilding of Cantor Fitzgerald. Mr. Lutnick has been recognized as a symbol of resilience and his story has been widely covered by top financial publications. Mr. Lutnick was named the Financial Times Person of the Year in 2001; additional media highlights include stories published by The New York Times: “From Devastation to Determination at Cantor Fitzgerald,” on September 10, 2002, and “The Survivor Who Saw the Future for Cantor Fitzgerald,” on September 3, 2011. Most recently, Mr. Lutnick’s story was highlighted in the History Channel documentary, “15 Septembers Later.” Mr. Lutnick graduated from Haverford College in 1983 with a degree in economics and joined Cantor Fitzgerald the same year. Mr. Lutnick served on the Haverford College Board of Managers for 21 years, including as Vice-Chair and Chair. He has also served on the Boards of the Zachary and Elizabeth M. Fisher Center for Alzheimer’s Disease Research and the Intrepid Museum Foundation. Mr. Lutnick is a Member of the Board of Trustees for the National September 11 Memorial and Museum at the World Trade Center. Mr. Lutnick received the Navy’s Distinguished Public Service Award, the highest honor granted by the Navy to non-military personnel. He also was the recipient of the 2016 Lifetime Achievement Award at Haverford. In 2017, Mr. Lutnick was honored by the UJA-Federation with the Gustave L. Levy Award for his generosity and commitment to philanthropy.

CEO Compensation
  • Howard's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Howard's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the BGC Partners management team in years:

11.3
Average Tenure
56
Average Age
  • The average tenure for the BGC Partners management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Howard Lutnick

TITLE
Chairman & CEO
COMPENSATION
$30M
AGE
57
TENURE
20.8 yrs

Shaun Lynn

TITLE
President
COMPENSATION
$9M
AGE
56
TENURE
12 yrs

Sean Windeatt

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
46
TENURE
11.3 yrs

Sean Galvin

TITLE
Chief Accounting Officer
COMPENSATION
$168K
TENURE
1.5 yrs

Stephen Merkel

TITLE
Executive VP & General Counsel
COMPENSATION
$5M
AGE
60
TENURE
20.8 yrs

Steve Bisgay

TITLE
Executive MD & CFO
AGE
52
TENURE
0.3 yrs

Adrian Thomas

TITLE
Director of Communications

Karen Laureano-Rikardsen

TITLE
Chief Marketing Officer

Lori Pennay

TITLE
Senior MD and Global Head of Human Resources & Partnership
TENURE
8.3 yrs

Daniel LaVecchia

TITLE
Executive MD of North America Operations & Global Head of FX Products
Board of Directors Tenure

Average tenure and age of the BGC Partners board of directors in years:

6.8
Average Tenure
67
Average Age
  • The tenure for the BGC Partners board of directors is about average.
Board of Directors

Howard Lutnick

TITLE
Chairman & CEO
COMPENSATION
$30M
AGE
57
TENURE
20.8 yrs

William Moran

TITLE
Independent Director
COMPENSATION
$243K
AGE
77
TENURE
6.8 yrs

Stephen Curwood

TITLE
Independent Director
COMPENSATION
$233K
AGE
71
TENURE
10.3 yrs

Linda Bell

TITLE
Independent Director
COMPENSATION
$215K
AGE
60
TENURE
6.8 yrs

David Richards

TITLE
Independent Director
COMPENSATION
$210K
AGE
67
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess BGC Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BGC Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ESDA News

Simply Wall St News

ESDA Company Info

Description

BGC Partners, Inc. operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions. In addition, it offers fully electronic brokerage, financial technology solutions, market data, post-trade services, and analytics related to financial instrument and markets under the Fenics, BGC Trader, CreditMatch, Fenics Market Data, BGC Market Data, kACE2, EMBonds, Capitalab, Swaptioniser, CBID, and Lucera brand names. Further, the company provides screen-based market solutions, which enable its clients to develop a marketplace, trade with their customers, issue debt, trade odd lots, access program trading interfaces, and access its network and intellectual property; software and technology infrastructure for the transactional and technology related elements; and option pricing and analysis tools. It primarily serves banks, broker-dealers, investment banks, trading firms, hedge funds, governments, and corporations, as well as investment firms. BGC Partners, Inc. was incorporated in 1999 and is headquartered in New York, New York.

Details
Name: BGC Partners, Inc.
ESDA
Exchange: DB
Founded: 1999
$860,268,914
$717,199,928
407,228,852
Website: http://www.bgcpartners.com
Address: BGC Partners, Inc.
499 Park Avenue,
New York,
New York, 10022,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS BGCP Class A Common Stock Nasdaq Global Select US USD 10. Dec 1999
DB ESDA Class A Common Stock Deutsche Boerse AG DE EUR 10. Dec 1999
LSE 0HKM Class A Common Stock London Stock Exchange GB USD 10. Dec 1999
BRSE ESDA Class A Common Stock Berne Stock Exchange CH CHF 10. Dec 1999
Number of employees
Current staff
Staff numbers
5,200
BGC Partners employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 23:30
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/02/28
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.