A Business at a Glance
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StoneX Group Inc.
SNEX
$3.9B
Mkt Cap
$74.26
-0.80%
StoneX Group Inc. (SNEX) has a current P/E ratio of 11.1, compared to its historical median P/E of 10.3. The stock is currently considered Fair based on its historical valuation range.
StoneX Group Inc. (SNEX) has a 5-year average return on invested capital (ROIC) of 18.6%. This indicates strong capital allocation and a potential competitive advantage.
StoneX Group Inc. (SNEX) has a market capitalization of $5.9B. It is classified as a mid-cap stock.
StoneX Group Inc. (SNEX) does not currently pay a regular dividend.
Based on historical P/E analysis, StoneX Group Inc. (SNEX) appears fair. The current P/E of 11.1 is 8% above its historical median of 10.3. The estimated fair value CAGR (P/E method) is 18.4%.
StoneX Group Inc. (SNEX) operates in the Security & Commodity Brokers, Dealers, Exchanges & Services industry, within the Financials sector.
StoneX Group Inc. (SNEX) reported annual revenue of $132.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Item 1. Business Overview of Business and Strategy We operate a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. We strive to be the one trusted partner to our clients, providing our network, products and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. Our businesses are supported by our global infrastructure of regulated operating subsidiaries, advanced technology platforms and team of more than 5,400 employees as of September 30, 2025. We believe our client-first approach differentiates us from large banking institutions, engenders trust and has enabled us to establish market leading positions in a number of complex fields in financial markets around the world.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Precious metals sales under ASC Topic 606 | $1.54B | $2.99B | $2.84B | $1.50B | $2.13B | 54% |
Commission and clearing fees | $487M | $508M | $498M | $548M | $728M | 18% |
Exchange-traded futures and options | $191M | $211M | $214M | $226M | $341M | 9% |
Clearing fees | $151M | $153M | $153M | $180M | $207M | 5% |
Consulting, management, and account fees | $91M | $111M | $159M | $167M | $206M | 5% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 152.3B | 132.4B | 99.9B | 60.9B | 66.0B | 42.5B |
| Net Income | 462M | 306M | 261M | 239M | 207M | 116M |
| EPS | $7.80 | $5.89 | $5.31 | $11.43 | $6.67 | $5.74 |
| Free Cash Flow | 6.5B | 4.3B | 442M | -71M | -279M | 2.1B |
| ROIC | 0.0% | 19.7% | 33.5% | -7.6% | 26.4% | 21.1% |
| Gross Margin | 3.4% | 3.1% | 3.4% | 4.8% | 3.2% | 3.9% |
| Debt/Equity | 0.00 | 0.33 | 0.20 | 0.25 | 0.77 | 0.84 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 409M | 354M | -63M | 277M | 154M |
| Operating Margin | 0.0% | 0.3% | 0.4% | -0.1% | 0.4% | 0.4% |
| ROE | 17.1% | 15.0% | 16.9% | 19.5% | 21.0% | 13.9% |
| Shares Outstanding | 79M | 52M | 49M | 21M | 31M | 20M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 34.0B | 34.7B | 14.8B | 29.4B | 27.6B | 32.9B | 54.1B | 42.5B | 66.0B | 60.9B | 99.9B | 132.4B | 152.3B |
| Gross Margin | 1.4% | 1.8% | 4.5% | 2.7% | 3.5% | 3.4% | 2.4% | 3.9% | 3.2% | 4.8% | 3.4% | 3.1% | 3.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 202M | 251M | 264M | 296M | 6.2M | 5.2M | 12M | 33M | 55M | 54M | 53M | 51M | 53M |
| EBIT | 26M | 78M | 73M | 15M | 102M | 111M | 207M | 154M | 277M | -63M | 354M | 409M | 0 |
| Op. Margin | 0.1% | 0.2% | 0.5% | 0.1% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | -0.1% | 0.4% | 0.3% | 0.0% |
| Net Income | 19M | 56M | 55M | 6.4M | 56M | 85M | 170M | 116M | 207M | 239M | 261M | 306M | 462M |
| Net Margin | 0.1% | 0.2% | 0.4% | 0.0% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.3% | 0.2% | 0.3% |
| Non-Recurring | 0 | 1.2M | -6.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.3M | -2.3M |
| Returns on Capital | |||||||||||||
| ROIC | 14.3% | 33.4% | 18.4% | 1.8% | 10.7% | 17.3% | 28.3% | 21.1% | 26.4% | -7.6% | 33.5% | 19.7% | 0.0% |
| ROE | 5.7% | 15.0% | 13.2% | 1.4% | 11.6% | 15.5% | 24.9% | 13.9% | 21.0% | 19.5% | 16.9% | 15.0% | 17.1% |
| ROA | 0.7% | 1.4% | 1.0% | 0.1% | 0.8% | 1.0% | 1.4% | 0.7% | 1.1% | 1.1% | 1.1% | 0.8% | 0.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 133M | 38M | -28M | 1.0B | -474M | 196M | 2.0B | 2.1B | -230M | -24M | 507M | 4.4B | 6.6B |
| Free Cash Flow | 128M | 29M | -43M | 1.0B | -486M | 184M | 1.9B | 2.1B | -279M | -71M | 442M | 4.3B | 6.5B |
| Owner Earnings | 121M | 27M | -41M | 1.0B | -492M | 174M | 1.9B | 2.1B | -292M | -103M | 417M | 4.3B | 6.4B |
| CapEx | 4.3M | 9.1M | 15M | 16M | 13M | 12M | 17M | 62M | 50M | 47M | 65M | 65M | 73M |
| Maint. CapEx | 7.3M | 7.2M | 8.2M | 9.8M | 12M | 14M | 20M | 37M | 44M | 51M | 53M | 68M | 88M |
| Growth CapEx | 0 | 1.9M | 7.2M | 6.3M | 900K | 0 | 0 | 26M | 5.1M | 0 | 12M | 0 | 0 |
| D&A | 7.3M | 7.2M | 8.2M | 9.8M | 12M | 14M | 20M | 37M | 44M | 51M | 53M | 68M | 88M |
| CapEx/OCF | 3.2% | 24.0% | N/A | 115.8% | N/A | 6.1% | 0.9% | 2.9% | N/A | N/A | 12.9% | 1.5% | 1.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 6.0M | 31M | 53M | 42M | 86M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | 2.7% | 12.3% | 15.3% | 10.5% | 24.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 9.7M | 4.7M | 20M | 0 | 0 | 3.8M | 7.5M | 12M | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 2.8% | 1.0% | 2.7% | N/A | N/A | 0.5% | 0.7% | 0.9% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 4.3M | 3.6M | 5.1M | 6.3M | 6.6M | 8.1M | 10M | 14M | 18M | 28M | 37M | 49M | 55M |
| Debt Repayment | 39M | 0 | 0 | 0 | 0 | 6.6M | 100M | 34M | 212M | 119M | 2.2M | 317M | 317M |
| Balance Sheet | |||||||||||||
| Net Debt | -209M | -230M | -136M | -85M | 13M | -101M | -169M | -354M | -284M | -767M | -930M | -824M | -2.1B |
| Cash & Equiv. | 231M | 268M | 316M | 315M | 342M | 471M | 953M | 1.1B | 1.1B | 1.1B | 1.3B | 1.6B | 2.1B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | 168M | 516M | 507M | 339M | N/A | N/A | N/A | 6.3M |
| Debt/Equity | 0.07 | 0.10 | 0.41 | 0.51 | 0.70 | 0.62 | 1.02 | 0.84 | 0.77 | 0.25 | 0.20 | 0.33 | 0.00 |
| Interest Coverage | 2.5 | 4.6 | 2.6 | 0.4 | 1.4 | 0.8 | 2.6 | 3.1 | 2.0 | -0.1 | 0.2 | 0.2 | 0.2 |
| Equity | 345M | 397M | 434M | 450M | 505M | 594M | 768M | 904M | 1.1B | 1.4B | 1.7B | 2.4B | 2.7B |
| Total Assets | 3.0B | 5.1B | 6.0B | 6.2B | 7.8B | 9.9B | 13.5B | 18.8B | 19.9B | 21.9B | 27.5B | 45.3B | 53.6B |
| Total Liabilities | 2.7B | 4.7B | 5.5B | 5.8B | 7.3B | 9.3B | 12.7B | 17.9B | 18.8B | 20.6B | 25.8B | 42.9B | 50.9B |
| Intangibles | 11M | 11M | 9.1M | 12M | 11M | 17M | 55M | 43M | 28M | 23M | 20M | 438M | 442M |
| Retained Earnings | 145M | 200M | 255M | 262M | 317M | 402M | 572M | 683M | 890M | 1.1B | 1.4B | 1.7B | 2.0B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.98 | 2.87 | 2.90 | 0.31 | 2.87 | 4.39 | 8.61 | 5.74 | 6.67 | 11.43 | 5.31 | 5.89 | 7.80 |
| Owner EPS | 6.14 | 1.40 | -2.18 | 49.47 | -25.43 | 8.95 | 97.50 | 102.28 | -9.39 | -4.92 | 8.48 | 82.25 | 81.16 |
| Book Value | 17.54 | 20.46 | 23.00 | 21.79 | 26.13 | 30.65 | 38.96 | 44.62 | 34.46 | 66.08 | 34.80 | 45.78 | 34.16 |
| Cash Flow/Share | 6.73 | 1.95 | -1.47 | 50.25 | -24.49 | 10.09 | 99.03 | 104.77 | -7.39 | -1.14 | 10.32 | 84.50 | 6.97 |
| Dividends/Share | 0.00 | 0.31 | 1.64 | 2.55 | 2.17 | 4.42 | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 19.7M | 19.4M | 18.9M | 20.6M | 19.3M | 19.4M | 19.7M | 20.3M | 31.0M | 20.9M | 49.1M | 51.9M | 79.0M |
| Valuation | |||||||||||||
| P/E Ratio | 18.0 | 8.5 | 13.4 | 123.1 | 16.8 | 9.6 | 6.0 | 11.4 | 8.3 | 8.8 | 10.3 | 16.9 | 9.5 |
| P/FCF | 1.2 | 7.3 | N/A | 0.3 | N/A | 2.0 | 0.2 | 0.3 | N/A | N/A | 6.1 | 1.2 | 0.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 1.0 | 1.2 | 1.7 | 1.6 | 1.8 | 1.4 | 1.3 | 1.5 | 1.6 | 1.5 | 1.6 | 2.2 | 2.2 |
| Price/Sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| FCF Yield | 37.0% | 6.1% | -5.9% | 141.5% | -52.6% | 22.4% | 190.5% | 154.8% | -16.2% | -3.3% | 16.5% | 83.7% | 110.5% |
| Market Cap | 347M | 475M | 732M | 722M | 923M | 820M | 1.0B | 1.3B | 1.7B | 2.1B | 2.7B | 5.2B | 5.9B |
| Avg. Price | 8.51 | 11.62 | 13.34 | 16.69 | 20.66 | 17.82 | 20.69 | 27.64 | 32.96 | 41.47 | 47.24 | 79.66 | 74.26 |
| Year-End Price | 7.82 | 10.89 | 17.33 | 16.96 | 21.48 | 18.80 | 22.90 | 29.20 | 37.02 | 43.90 | 54.63 | 99.49 | 74.26 |
StoneX Group Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
StoneX Group Inc. trades at 11.1x trailing earnings, compared to its 15-year median P/E of 10.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 1.1x vs a median of 0.8x. The company's 5-year average ROIC is 18.6% with a gross margin of 3.7%. At current prices, the estimated annualized return to fair value is +3.1%.
StoneX Group Inc. (SNEX) has a net profit margin of 0.2%. This is a modest margin.
StoneX Group Inc. (SNEX) generated $4.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
StoneX Group Inc. (SNEX) has a debt-to-equity ratio of 0.33. This indicates a conservatively financed balance sheet.
StoneX Group Inc. (SNEX) reported earnings per share (EPS) of $5.89 in its most recent fiscal year.
StoneX Group Inc. (SNEX) has a return on equity (ROE) of 15.0%. This indicates moderate shareholder returns.
StoneX Group Inc. (SNEX) has a 5-year average gross margin of 3.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for StoneX Group Inc. (SNEX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
StoneX Group Inc. (SNEX) has a book value per share of $45.78, based on its most recent annual SEC filing.