MMI vs BGC vs JLL vs MKTX

For growth investors, BGC Group, Inc (BGC) is the stronger pick with 27.

6% revenue growth year-over-year, versus 8. 5% for Marcus & Millichap, Inc. (MMI). Jones Lang LaSalle Incorporated (JLL) offers the better valuation at 19. 4x trailing P/E (14. 1x forward), making it the more compelling value choice. Analysts rate BGC Group, Inc (BGC) a "Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Jones Lang LaSalle Incorporated (JLL) is the cheapest at 19.

4x versus BGC Group, Inc at 35. 8x. On forward P/E, BGC Group, Inc is actually cheaper at 7. 8x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: BGC Group, Inc wins at 0. 26x versus MarketAxess Holdings Inc. 's 3. 00x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, BGC Group, Inc (BGC) delivered a total return of +108.

0%, compared to -63. 7% for MarketAxess Holdings Inc. (MKTX). Over 10 years, the gap is even starker: JLL returned +181. 1% versus MMI's +29. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), MarketAxess Holdings Inc.

(MKTX) is the lower-risk stock at -0. 28β versus Jones Lang LaSalle Incorporated's 1. 26β — meaning JLL is approximately -547% more volatile than MKTX relative to the S&P 500. On balance sheet safety, MarketAxess Holdings Inc. (MKTX) carries a lower debt/equity ratio of 5% versus 155% for BGC Group, Inc — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), BGC Group, Inc (BGC) is pulling ahead at 27.

6% versus 8. 5% for Marcus & Millichap, Inc. (MMI). On earnings-per-share growth, the picture is similar: Marcus & Millichap, Inc. grew EPS 84. 7% year-over-year, compared to 6. 3% for MarketAxess Holdings Inc.. Over a 3-year CAGR, JLL leads at 7. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

MarketAxess Holdings Inc.

(MKTX) is the more profitable company, earning 33. 6% net margin versus -0. 3% for Marcus & Millichap, Inc. — meaning it keeps 33. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MKTX leads at 41. 7% versus -1. 8% for MMI. At the gross margin level — before operating expenses — BGC leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, BGC Group, Inc (BGC) is the more undervalued stock at a PEG of 0. 26x versus MarketAxess Holdings Inc. 's 3. 00x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, BGC Group, Inc (BGC) trades at 7. 8x forward P/E versus 58. 5x for Marcus & Millichap, Inc. — 50. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MKTX: 29. 3% to $195. 60.

In this comparison, MKTX (2.

0% yield), MMI (1. 8% yield) pay a dividend. BGC, JLL do not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, MarketAxess Holdings Inc.

(MKTX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 28), 2. 0% yield). Both have compounded well over 10 years (MKTX: +40. 4%, JLL: +181. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

These companies operate in different sectors (MMI (Real Estate) and BGC (Financial Services) and JLL (Real Estate) and MKTX (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: MMI is a small-cap quality compounder stock; BGC is a small-cap high-growth stock; JLL is a mid-cap quality compounder stock; MKTX is a small-cap quality compounder stock. MMI, MKTX pay a dividend while BGC, JLL do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.