StoneX Group (SNEX) Company Report

StoneX reported strong financial results for Q4 2025, with operating revenues of $1,202.3 million, up 31%, net income of $85.7 million, up 12%, and diluted EPS of $1.57, up 1%. For the full fiscal year 2025, operating revenues reached $4,126.9 million, up 20%, and net income was $305.9 million, up 17%.
The company's Return on Equity was 15.2% for Q4 2025 and 15.6% for the full fiscal year, with book value per share increasing 27% year-over-year to $45.56.
The RJO transaction closed, positioning StoneX as the largest non-bank FCM in the US with $13.7 billion in required client segregated/secured assets, and is projected to yield $50 million in expense synergies and $50 million in capital synergies. The Benchmark acquisition also closed and is accretive to earnings.
Significant growth was observed in key areas, including Listed Derivatives operating revenue, up 76% to $207.6 million, and Listed Derivatives Client Equity, up 71% to $11,321 million in Q4 2025. The Institutional segment's revenue also saw a substantial increase of 67% to $292 million in Q4 2025.
StoneX anticipates a more volatile economic environment, which is expected to benefit its business, and highlighted significant growth in client assets as a source of stable recurring income.

Nov 25, 2025, 2:00 PM

Presentation

StoneX Reports Record Q4 and Full Fiscal Year 2025 Results, Highlights Transformational RJ O'Brien Acquisition

SNEX

Earnings

M&A

Revenue Acceleration/Inflection

For Q4 2025, StoneX (SNEX) reported net income of $85.7 million and diluted earnings per share (EPS) of $1.57, with operating revenues of just over $1.2 billion, representing a 31% increase year-over-year.
The company achieved record net income of $305.9 million and EPS of $5.89 for the full fiscal year 2025, with operating revenues exceeding $4 billion.
The acquisition of RJ O'Brien (RJO) in 2025 was a significant factor, contributing $22.1 million to Q4 pre-tax net income (excluding acquired intangible amortization) and establishing StoneX as the largest non-bank FCM in the United States.
Integration efforts for RJO have already resulted in approximately $20 million in annualized cost savings within four months, with additional capital synergies of $20 million-$30 million anticipated in Q2 2026 and north of $30 million in Q4 2026.

Nov 25, 2025, 2:00 PM

Transcript

StoneX Group Reports Record FY 2025 Results and Highlights Impact of RJO Acquisition

SNEX

Earnings

M&A

Guidance Update

StoneX Group reported strong financial results for Q4 2025, with operating revenues of over $1.2 billion, an increase of 31% versus the prior year, and net earnings of $85.7 million, resulting in an EPS of $1.57. For the full fiscal year 2025, the company achieved record net income of $305.9 million and an EPS of $5.89, with operating revenues exceeding $4 billion.
The company completed six transactions in fiscal year 2025, including the transformational acquisition of RJ O'Brien (RJO), which made StoneX the largest non-bank FCM in the United States. RJO and Benchmark contributed $22.1 million and $2.4 million in pre-tax net income, respectively, for Q4 2025, though acquisition costs diluted EPS by approximately $0.13 per share.
Integration efforts for RJO are progressing, with combined client equity balances reaching a record $13.7 billion at the end of September 2025. The company anticipates $50 million in annual run-rate cost synergies and at least $50 million in capital synergies from the RJO acquisition.
Segment performance in Q4 2025 saw significant growth in the Institutional segment, with record net operating revenues up 67% and segment income up 73% year-over-year, largely driven by the RJO acquisition. The Commercial and Payments segments also showed growth, while the Self-directed retail segment experienced declines.

Nov 25, 2025, 2:00 PM

Transcript

StoneX Group Reports Record FY 2025 Results and Highlights Transformational RJO Acquisition

SNEX

Earnings

M&A

Revenue Acceleration/Inflection

StoneX Group achieved record financial results for fiscal year 2025, with net income of $305.9 million, an increase of 17%, and earnings per share (EPS) of $5.89. The company's return on equity (ROE) for the fiscal year was 15.6%, surpassing its 15% target.
For Q4 2025, operating revenues reached just over $1.2 billion, marking a 31% increase year-over-year, with net earnings of $85.7 million and EPS of $1.57. The quarter's EPS was diluted by approximately $0.13 due to the RJO acquisition and related costs.
The company completed six acquisitions in 2025, its most active year, notably the transformational acquisition of RJ O'Brien (RJO), which established StoneX as the largest non-bank FCM in the United States.
The RJO acquisition is projected to generate $50 million in annual run-rate cost synergies within 24 months, with $20 million in annualized savings already realized. Additionally, over $50 million in capital synergies are anticipated, with $20 million-$30 million expected in Q2 2026 and over $30 million from the US FCM merger in Q4 2026.
StoneX has experienced significant growth in client assets under custody, with combined client equity balances reaching $13.7 billion by the end of September, contributing to a stable and predictable recurring income stream.

Nov 25, 2025, 2:00 PM

Transcript

StoneX Group Inc. Reports Fiscal 2025 Fourth Quarter Financial Results

SNEX

Earnings

M&A

Revenue Acceleration/Inflection

StoneX Group Inc. achieved record fiscal year 2025 net income of $305.9 million, up 17%, and record quarterly net income of $85.7 million, a 12% increase year-over-year.
The company reported quarterly net operating revenues of $585.1 million, up 29%, with a quarterly diluted EPS of $1.57 per share and a fiscal year diluted EPS of $5.89 per share.
These results were significantly influenced by the closing of the acquisitions of R.J. O’Brien and The Benchmark Company, LLC, which contributed $141.0 million to operating revenues in the quarter.
The quarter included $9.3 million in acquisition-related charges, which reduced diluted EPS by approximately $0.13.

Nov 24, 2025, 9:32 PM

8-K

Typhoon Kalmaegi Threatens Vietnam's Coffee Crop

SNEX

Typhoon Kalmaegi made landfall in Vietnam's Central Highlands, the country's largest coffee-growing region, with maximum sustained winds of 149km per hour.
The storm is expected to bring heavy rainfall and strong winds, risking damage to coffee crops, delaying harvesting, and affecting bean quality, which could impact global robusta coffee supply.
In response to concerns about supply stability due to the storm, Robusta coffee futures in London rallied $5 to $4,686 per metric ton for January delivery.
Prior to the typhoon, Vietnam's coffee exports from January to October increased 13.4% to 1.31 million metric tons, with export revenues rising 62% to $7.4 billion compared to the previous year.
Vietnam has experienced 12 major storms in 2025, causing at least 241 deaths and economic losses exceeding 53.8 trillion dong (approximately S$2.7 billion).

Nov 6, 2025, 3:09 PM

Bloomberg

Streamex Closes Initial $25 Million Tranche of Convertible Debenture Financing

SNEX

Debt Issuance

New Projects/Investments

Streamex Corp. (NASDAQ: STEX) announced the closing of the first tranche of convertible debenture financing with a principal amount of USD $25,000,000.
This initial tranche is part of a larger USD $50 million financing previously announced in July 2025, with the remaining USD $25 million to be deployed in an additional tranche upon certain conditions.
All net proceeds from this financing will be allocated towards Streamex’s initial purchases of Physical Allocated Gold Bullion, reinforcing its gold-denominated balance sheet and Gold Per Share.

Nov 5, 2025, 1:00 PM

Press Release

Point and Blue Owl Capital Close $390 Million Securitization

SNEX

Debt Issuance

New Projects/Investments

Point and funds managed by Blue Owl Capital completed a rated securitization of Home Equity Investment (HEI) assets, issuing $390 million of rated asset-backed securities.
This transaction, which closed on October 28th, 2025, marks Point's third securitization of 2025.
The securitization attracted 29 unique investors, including eight new entrants, and generated over $1.6 billion in orders, highlighting continued institutional interest.
It is the first HEI securitization to include undertakings related to both the EU Securitization Regulation and the UK Securitization Framework, aiming to broaden global access.

Nov 5, 2025, 8:05 AM

Press Release

StoneX Group Completes Acquisition of Plantureux et Associés

SNEX

M&A

New Projects/Investments

StoneX Group Inc. (SNEX), through its wholly owned subsidiary StoneX Financial Europe GmbH, completed the acquisition of Plantureux et Associés on November 3, 2025.
Plantureux et Associés is a Paris-based brokerage firm specializing in agricultural commodities across both physical and derivatives markets.
This acquisition strengthens StoneX's commitment to the French agricultural market and aims to grow and diversify its footprint across Europe.

Nov 3, 2025, 11:16 AM

Press Release

StoneX Group Completes Acquisition of Intercam Advisors and Securities

SNEX

M&A

New Projects/Investments

StoneX Group Inc. (NASDAQ: SNEX) announced the completion of its acquisition of Intercam Advisors, Inc. and Intercam Securities, Inc., which are U.S.-based firms providing brokerage and investment advisory services to Latin American clients.
The acquired entities have been rebranded as StoneX International Securities Inc. and StoneX International Advisors, Inc..
This acquisition is expected to bolster StoneX’s existing wealth management business and strengthen its connection with Latin America, expanding its ability to serve cross-border clients.
StoneX Wealth Management currently manages more than $18 billion in client assets across the U.S. and Latin America.

Oct 17, 2025, 11:12 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for StoneX Group.

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