Stonex Group Inc (SNEX)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today bets that the first half's profit surge holds, that the RJO integration keeps delivering, and that neither rate cuts nor a large client default hit the thin margin — and pays four times book value after a 136 percent run for it. Whoever waits checks three lines in every quarterly report (10-Q): interest and fee income on client balances (does the engine hold despite Fed cuts?), bad debts (does the $12.4 million spike remain an outlier?) and organic growth excluding the RJO contribution. The decision is yours.
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StoneX clears and brokers trades across more than 40 derivatives exchanges — and lights up 24 filters in our in-house stock scanner, led by stage-2 momentum (scanner run of July 17, 2026; metrics data as of July 10, 2026). We read the annual reports (10-K) for fiscal years 2024 and 2025 and the quarterly report (10-Q) as of March 31, 2026: "revenues" of $132.4 billion of which $128.3 billion flow right back out, an interest engine running on client money, a half-year profit above the entire prior year, a billion-dollar acquisition — and bad debts that jumped a hundredfold in the latest quarter. Not investment advice — just a field guide to a balance sheet that looks bigger than it is.
Read the analysis
Stock Watch
This analysis is as of July 17, 2026. Stock Watch will tell you what's changed at SNEX since then.
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Appears in These Scanners
This stock currently matches 23 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 76.60 $ — 9% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralGeprüft am 17.07.2026 gegen die Geschäftsberichte (10-K) für die Geschäftsjahre 2025 (eingereicht 28.11.2025) und 2024 (29.11.2024) sowie die vier jüngsten Quartalsberichte (10-Q, zum 31.03.2026, 31.12.2025, 30.06.2025 und 31.03.2025): In den ausgewerteten SEC-Filings der StoneX Group Inc. findet sich kein einziger Treffer zu „artificial intelligence“, „machine learning“, „generative“ oder „AI“ — weder als Umsatzquelle noch als operativer Einsatz noch als konkretes Geschäftsrisiko. Der Finanzdienstleister (Broker, Clearing, Zahlungsverkehr, physischer Rohstoffhandel) beschreibt seine Technologie-Plattformen ohne jeden KI-Bezug. Dokumentierter Negativ-Befund → „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-06 · 10-Q 2026-02-04 · 10-Q 2025-08-07 · 10-Q 2025-05-07 · 10-K 2025-11-28 · 10-K 2024-11-29
Rated on July 17, 2026 · How the Rating Is Built
Growth Score
2 of 10 Weak growthTen checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 26.1% passed
- More than 10% revenue growth is expected for the coming year -100.0% failed
- Share count grows by less than 3% a year 3.5% failed
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 35.8% failed
- Gross margin at 40% or higher and without meaningful erosion 2.0% failed
- Goodwill from acquisitions does not grow faster than revenue 0.7% failed
- Net debt below twice EBITDA 8.5 x EBITDA failed
- Operating cash flow covers the profits of the last three years 4,251 m passed
- Return on capital at 15% or higher, or up versus two years ago 9.0% failed
- Insiders hold at least 10% or are net buyers 9.3% failed
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 46.2% above the current price.
- Consensus
- Strong Sell
- Analyst Ratings
- 2
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 09/30/2026 | 4.27 | 4.27 – 4.27 | 84,791 | 59.7% | 1 |
| 09/30/2027 | 4.43 | 4.43 – 4.43 | 0 | 3.7% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.76 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 1.17 | -20.90 | 27,935 | 42.70 | 0.30 | -478 | -491 |
| 2025: Q1 | 0.97 | -13.90 | 36,891 | 66.90 | 0.20 | -155 | -170 |
| 2025: Q2 | 0.85 | -34.90 | 34,829 | 28.70 | 0.20 | 1,491 | 1,475 |
| 2025: Q3 | 1.09 | -32.00 | 32,723 | 5.10 | 0.30 | 3,529 | 3,509 |
| 2025: Q4 | 1.73 | 48.20 | 39,030 | 39.70 | 0.40 | -1,262 | -1,277 |
| 2026: Q1 | 2.14 | 121.00 | 45,763 | 24.00 | 0.40 | 4,212 | 4,191 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 14,755 | 444 | 55 | 2.94 | -28 | 35 | 2,095 |
| 2017 | 29,424 | 493 | 6 | 0.15 | 1,037 | 450 | 6,243 |
| 2018 | 27,623 | 582 | 56 | 1.30 | -474 | 505 | 7,825 |
| 2019 | 32,897 | 653 | 85 | 2.98 | 196 | 475 | 2,748 |
| 2020 | 54,140 | 868 | 170 | 3.93 | 1,951 | 768 | 13,475 |
| 2021 | 42,534 | 1,150 | 116 | 3.94 | 2,123 | 881 | 3,309 |
| 2022 | 66,036 | 1,476 | 207 | 3.06 | -230 | 1,070 | 19,860 |
| 2023 | 60,856 | 1,621 | 239 | 3.43 | 161 | 1,379 | 21,939 |
| 2024 | 99,888 | 1,767 | 261 | 3.67 | 507 | 1,709 | 27,466 |
| 2025 | 132,378 | 2,053 | 306 | 4.07 | 4,388 | 2,377 | 45,268 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Net income of $238.5, $260.8 and $305.9 million in fiscal years 2023 through 2025, return on equity of 15.6 percent — and $313.3 million already earned in the first half of fiscal year 2026, more than in the entire prior year; operating revenues up 64 percent in the January-through-March 2026 quarter (10-Q as of 03/31/2026).
Of the $132.4 billion in fiscal 2025 total revenues, $128.5 billion is pass-through physical commodities; management itself calls operating revenues ($4,126.9 million) the more useful measure (10-K, Item 7). Screener values like a 0.07 price-to-sales or 1.4 price-to-cash-flow ratio are artifacts here, not buy arguments — the net margin on the flow-through is 0.2 to 0.4 percent.
$1,734.3 million of interest income in fiscal year 2025, largely earned on client balances on deposit; the company's own risk factors warn that declining short-term rates or shrinking deposits "may have a material adverse effect" on profitability (10-K, Item 1A). The RJO deal enlarged the interest engine — and with it this flank.
Bad debts in the January-through-March 2026 quarter: $12.4 million after $0.1 million a year earlier, $8.0 million of it in the metals business (10-Q, Item 2); $53.6 billion in total assets on roughly $2.7 billion of equity (about a 5 percent ratio) — industry-standard, but with no tolerance for one big failure.
Five acquisitions in fiscal year 2025 alone (including R.J. O'Brien for $651.9 million in cash plus 3,085,554 shares, and Benchmark), goodwill up $238.0 million, new $625 million of 6.875% notes due 2032, diluted share count up about 10 percent — the integration is delivering so far (RJO: $414.5 million in half-year operating revenues), but the interest burden and dilution will remain even when the momentum fades.
24 scanner hits, a stage-2 uptrend, an RS rating of 95, plus 136 percent in twelve months and two 3-for-2 splits — set against a trailing P/E around 24, four times book value, 13 insider sales versus 1 purchase (including the CEO) and just two analyst estimates (data as of July 10, 2026).
StoneX is a highly profitable financial toll-booth operator in top form: record profits, a half-year above the entire prior year, broad momentum and an acquisition that strengthens the network. But the most eye-catching screener metric — the 0.07 price-to-sales ratio — is an optical illusion built from $128 billion of pass-through commodities, the net margin on it is paper-thin, profit hangs noticeably on U.S. interest rates, and $53.6 billion in assets rest on roughly 5 percent equity. Whoever invests here buys a very well-run, highly leveraged network business at four times book — not the bargain from the screener. Not investment advice.
- SNEX reached the research list through the momentum/stage-2 run of our in-house stock scanner on July 17, 2026, with 24 hits; the underlying metrics carry a data cut-off of July 10, 2026.
- Scanner metrics (P/S, P/CF, P/E, Piotroski, fundamental grade) are computed on trailing twelve-month figures and treat the gross revenues of the physical commodities business like ordinary revenue — which is exactly why StoneX appears in cheapness rankings although the real price-to-revenue ratio sits around 2.7.
- Price and valuation figures are dated July 10, 2026 (about $137.30, about $10.9 billion in market value); analyses are evergreen, daily prices are not a buy argument. The fiscal year ends September 30; share counts and earnings per share are comparable only on a split-adjusted basis after the 3-for-2 splits of 03/21/2025 and 03/20/2026.
About the Company
StoneX Group Inc. ist ein globales Finanzdienstleistungsnetzwerk, das Unternehmen, Organisationen, Trader und Anleger mit einem Marktökosystem in den USA, Europa, Südamerika, dem Nahen Osten, Asien und international verbindet.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 5,307 |
| Headquarters | New York, NY |
| Address | 230 Park Avenue, 10169 New York, United States |
| Phone | 212 485 3500 |
| Website | stonex.com |
| IPO Date | 15. Nov 1996 |
| ISIN | US8618961085 |
| Stock Split | 3:2 on 07/20/2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Philip Andrew Smith | Group CEO & Director | 1972 |
| Sean Michael O'Connor | Executive Vice-Chairman | 1962 |
| William John Dunaway | Chief Financial Officer | 1972 |
| Stuart Andrew Sam Davison | Chief Operating Officer | 1985 |
| Gregory Kallinikos | Chief Executive Officer of the Asia Pacific | 1979 |
| Charles Martin Lyon | Group President & Director | 1976 |
| Aaron M. Schroeder | Chief Accounting Officer | 1976 |
| Abigail Hannah Perkins | Chief Information Officer | 1970 |
| Kevin T. Murphy | Group Treasurer & Investor Relation | – |
| Diego Andres Rotsztain J.D. | Chief Governance & Legal Officer | 1970 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 24. Jul 2026 | Rotsztain Diego | Chief Governance/Legal Officer | Sell | 20,630 | 74.40 | 1,534,886 |
| 22. Jul 2026 | Maurer Mark Lowry | Chief Risk Officer | Sell | 52,376 | 74.32 | 3,892,679 |
| 22. Jul 2026 | Maurer Mark Lowry | Chief Risk Officer | Other | 69,372 | 8.90 | 617,411 |
| 22. Jul 2026 | Smith Philip Andrew | Chief Executive Officer | Sell | 45,000 | 74.32 | 3,344,481 |
| 22. Jul 2026 | Smith Philip Andrew | Chief Executive Officer | Other | 45,000 | 8.90 | 400,500 |
| 22. Jul 2026 | Rotsztain Diego | Chief Governance/Legal Officer | Sell | 29,995 | 74.32 | 2,229,282 |
| 22. Jul 2026 | Rotsztain Diego | Chief Governance/Legal Officer | Other | 50,625 | 12.26 | 620,663 |
| 22. Jul 2026 | Dunaway William J | Chief Financial Officer | Sell | 95,970 | 74.33 | 7,133,325 |
| 22. Jul 2026 | Dunaway William J | Chief Financial Officer | Other | 126,563 | 8.90 | 1,126,411 |
| 22. Jul 2026 | Oconnor Sean Michael | Executive Vice-Chairman-Board | Sell | 104,934 | 74.33 | 7,799,776 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.