StoneX Group Inc.

Listed Company

SNEXCIK 0000913760NasdaqLarge AcceleratedSecurity & Commodity Brokers, Dealers, Exchanges & ServicesDelawareFY ends Sep 30

Period

FY 2025

Revenue

$132.38B

Net Income

$305.90M

Total Assets

$45.27B

Equity

$2.38B

Shares Out

52.46M

Op. Cash Flow

$4.39B

+ 13F Filer

Business

StoneX Group Inc. operates a global financial services network that connects companies, organizations, traders and investors to global financial and physical markets through digital platforms, execution and clearing services, market-making and high-touch advisory. It offers products and services including trade execution, multi-asset clearing and custody, OTC structuring and market-making, payments and cross-border FX, investment banking, asset and wealth management, market intelligence, and physical commodities trading. The company manages four operating segments: Commercial, Institutional, Self-Directed/Retail, and Payments. It distributes services globally through regulated subsidiaries, digital platforms, direct sales, introducing brokers, white-label partners and correspondent banking relationships.

Summary from filing dated 2025-11-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total revenues	132,378	99,888	60,856	66,036	42,534
Cost of sales of physical commodities	128,251	96,452	57,942	63,929	40,861
Operating revenues	4,127	3,436	2,914	2,107	1,673
Transaction-based clearing expenses	382	319	272	291	272
Introducing broker commissions	211	166	162	160	161
Interest expense	1,403	1,116	802	136	—
Interest expense on corporate funding	78	68	58	45	41
Net operating revenues	2,053	1,767	1,621	1,476	1,150
Compensation and benefits	1,108	942	869	795	679
Trading systems and market information	83	79	74	66	59
Professional fees	86	70	57	54	41
Non-trading technology and support	87	73	62	52	46
Occupancy and equipment rental	56	49	40	36	34
Selling and marketing	51	53	54	55	33
Travel and business development	33	28	25	17	5
Communications	9	9	9	8	9
Depreciation and amortization	68	53	51	44	37
Bad debts, net of recoveries	3	600,000	17	16	10
Other	66	65	66	61	46
Total compensation and other expenses	1,650	1,422	1,323	1,205	999
Gain on acquisitions and other gains, net	6	9	25	6	3
Income before tax	409	354	323	277	154
Income tax expense	103	93	85	70	38
Net income	306	261	239	207	116
Basic (in dollar per share)	6.22	5.49	5.14	6.85	5.9
Diluted (in dollar per share)	5.89	5.31	4.97	6.67	5.74
Basic (in shares)	47	46	45	29	19
Diluted (in shares)	50	47	46	30	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	1,606	1,269	1,108	1,109	1,110
Cash, securities and other assets segregated under federal and other regulations (including $950.0 million and $51.8 million at fair value at September 30, 2025 and 2024, respectively)	5,271	2,841	2,426	3,267	2,274
Securities purchased under agreements to resell	10,325	5,202	2,980	1,672	2,240
Securities borrowed	2,743	1,662	1,129	1,210	2,163
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net (including $6,442.9 million and $3,287.5 million at fair value at September 30, 2025 and 2024, respectively)	12,891	7,283	7,444	6,843	5,293
Receivable from clients, net (including $58.1 million and $(8.4) million at fair value at September 30, 2025 and 2024, respectively)	1,334	1,013	683	566	461
Income taxes receivable	46	19	25	17	27
Financial instruments owned, at fair value (includes securities pledged as collateral that can be sold or repledged of $1,165.8 million and $2,172.0 million at September 30, 2025 and 2024, respectively)	8,604	6,767	5,045	4,167	4,355
Physical commodities inventory, net (including $471.1 million and $376.6 million at fair value at September 30, 2025 and 2024, respectively)	918	681	537	514	448
Deferred tax assets	32	46	45	52	35
Property and equipment, net	167	143	124	113	93
Operating right of use assets	162	157	122	122	125
Goodwill and intangible assets, net	736	81	82	86	—
Other assets	434	302	183	118	109
Total assets	45,268	27,466	21,939	19,860	18,840
Accounts payable and other accrued liabilities (including $32.3 million and $2.3 million at fair value at September 30, 2025 and 2024, respectively)	769	522	533	401	305
Operating lease liabilities	212	196	149	143	147
Clients (including $530.7 million and $265.9 million at fair value at September 30, 2025 and 2024, respectively)	19,864	10,346	9,976	9,891	7,836
Broker-dealers, clearing organizations and counterparties (including $38.4 million and $(1.4) million at fair value at September 30, 2025 and 2024, respectively)	963	734	442	660	614
Lenders under loans	782	339	341	485	249
Senior secured borrowings, net	1,159	543	342	339	—
Income taxes payable	23	18	38	16	13
Deferred tax liabilities	97	9	8	0	—
Securities sold under agreements to repurchase	13,551	8,581	4,527	3,196	4,341
Securities loaned	2,551	1,616	1,117	1,190	2,154
Financial instruments sold, not yet purchased, at fair value	2,920	2,853	3,086	2,470	1,771
Total liabilities	42,891	25,757	20,560	18,790	17,936
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; no shares issued or outstanding	0	0	0	0	0
Common stock, $0.01 par value. Authorized 200,000,000 shares; 54,967,558 issued and 52,186,635 outstanding at September 30, 2025 and 53,678,016 issued and 47,811,539 outstanding at September 30, 2024	500,000	500,000	400,000	200,000	200,000
Common stock in treasury, at cost. 2,780,923 shares at September 30, 2025 and 5,866,477 shares at September 30, 2024	−33	−69	−69	−69	−69
Additional paid-in-capital	731	414	372	340	316
Retained earnings	1,695	1,389	1,128	890	683
Accumulated other comprehensive loss, net	−16	−25	−52	−91	−25
Total equity	2,377	1,709	1,379	1,070	904
Total liabilities and stockholders' equity	45,268	27,466	21,939	19,860	18,840

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Amortization of operating right of use assets	32	22	14	16	12
Deferred income taxes	7	−11	−2	−300,000	3
Loss on extinguishment of debt	0	4	0	0	—
Amortization and extinguishment of debt issuance costs	5	5	6	5	4
Actuarial adjustment on pension and postretirement benefits	−100,000	100,000	300,000	−100,000	−300,000
Amortization of share-based compensation expense	49	37	28	18	14
Loss on disposal of property and equipment	2	0	0	—	—
Gain on acquisition	0	0	−24	0	−3
Accretion of deferred consideration	1	0	0	—	—
Adjustment to fair value of deferred consideration	−2	0	0	—	—
Loss on equity method investment	300,000	0	0	—	—
Securities and other assets segregated under federal and other regulations	1,599	−46	600	−592	−1
Securities purchased under agreements to resell	−3,543	−2,222	−1,308	568	−544
Securities borrowed	−1,081	−533	81	953	−723
Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net	183	263	−596	−2,174	−132
Receivable from clients, net	−286	−330	−81	−120	−68
Notes receivable, net	0	200,000	−100,000	1	−4
Income taxes receivable	−20	7	−13	10	−10
Financial instruments owned, at fair value	−1,802	−1,714	−858	187	−1,627
Physical commodities inventory, net	−231	−144	−1	−67	−166
Other assets	−62	−120	−60	−10	−17
Accounts payable and other accrued liabilities	108	−5	83	101	36
Operating lease liabilities	−26	−10	−8	−16	−9
Payable to clients	2,881	370	81	2,055	2,147
Payable to broker-dealers, clearing organizations and counterparties	229	292	−218	46	76
Income taxes payable	−5	−20	29	3	−9
Securities sold under agreements to repurchase	4,970	4,055	1,331	−1,145	1,185
Securities loaned	935	499	−72	−964	712
Financial instruments sold, not yet purchased, at fair value	67	−205	658	628	1,085
Net cash provided by/(used in) operating activities	4,388	507	−24	−230	2,123
Collection of notes receivable	0	5	0	0	—
Cash paid for acquisitions of businesses and assets, net of cash acquired	−392	−2	−6	−200,000	−2
Equity method investment	−8	0	0	—	—
Purchase of exchange memberships and common stock	0	−1	0	0	—
Purchase of property and equipment and internally developed software	−65	−65	−47	−50	−62
Net cash used in investing activities	−466	−64	−53	−50	−60
Net change in lenders under loans with maturities 90 days or less	317	−2	−119	212	−34
Proceeds from lenders under loans with maturities greater than 90 days	0	10	187	547	191
Repayments of lenders under loans with maturities greater than 90 days	0	−10	−222	−522	−186
Proceeds from issuance of senior secured notes	625	550	0	0	0
Repayment of senior secured notes	0	−348	0	−500,000	−2
Deferred payments on acquisitions	−21	−10	−19	−3	−2
Debt issuance costs	−11	−8	0	0	0
Shares withheld to cover taxes on vesting of equity awards	−7	−2	0	0	—
Exercise of stock options	11	8	4	7	9
Net cash provided by/(used in) financing activities	915	188	−169	66	−36
Effect of exchange rates on cash, segregated cash, cash equivalents, and segregated cash equivalents	10	−300,000	3	−11	14
Net increase/(decrease) in cash, segregated cash, cash equivalents, and segregated cash equivalents	4,848	631	−243	−224	2,041
Cash paid for interest	1,462	1,230	787	149	87
Income taxes paid, net of cash refunds	118	118	71	56	52
Identified intangible assets and goodwill on acquisitions	665	6	11	200,000	7
Additional consideration payable related to acquisitions, net	34	4	11	0	4
Acquisition consideration paid in common stock	300	0	0	—	—
Acquisition consideration paid in silver bullion	13	0	0	—	—
Assets acquired	7,412	700,000	142	0	7
Liabilities acquired	7,001	600,000	84	0	−4
Total net assets acquired	411	100,000	58	0	2

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 148 positions

Reported AUM

$277.50M

Holdings

148

Top sector

$277.50M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$277.50M	100.0%

Top holdings

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SPDR SER TR	—	386.1K	$11.63M	4.2%
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GOLDMAN SACHS ETF TR	—	330.8K	$10.32M	3.7%
GOLDMAN SACHS ETF TR	—	330.8K	$10.32M	3.7%
APPLE INC	—	42.4K	$7.40M	2.7%
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