StoneX Group Inc.SNEX

StoneX Group Inc. Earnings Per Share Disclosure

10-KFiled Nov 28, 20252 min read
Earnings per Share
The Company presents basic and diluted earnings per share (“EPS”) using the two-class method which requires all outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends and therefore participate in undistributed earnings with common stockholders be included in computing earnings per share. Under the two-class method, net income is reduced by the amount of dividends declared in the period for each class of common stock and participating security. The remaining undistributed earnings are then allocated to common stock and participating securities, based on their respective rights to receive dividends. Restricted stock awards granted to certain employees and directors contain non-forfeitable rights to dividends at the same rate as common stock, and are considered participating securities. Basic EPS has been computed by dividing net income by the weighted-average number of common shares outstanding.
The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the periods presented below.
 Fiscal Year Ended September 30,
(in millions, except share amounts)202520242023
Numerator:
Net income$305.9 $260.8 $238.5 
Less: Allocation to participating securities(10.4)(9.1)(8.1)
Net income allocated to common stockholders$295.5 $251.7 $230.4 
Denominator:
Weighted average number of:
Common shares outstanding47,431,675 45,808,855 44,904,000 
Dilutive potential common shares outstanding:
Share-based awards2,692,827 1,628,688 1,489,516 
Diluted shares outstanding50,124,502 47,437,543 46,393,516 
Earnings per share - basic$6.22 $5.49 $5.14 
Earnings per share - diluted$5.89 $5.31 $4.97 
The dilutive effect of share-based awards is reflected in diluted net income per share by application of the treasury stock method, which includes consideration of unamortized share-based compensation expense.
Options to purchase 712,280, 2,348,682 and 557,485 shares of common stock for the years ended September 30, 2025, 2024, and 2023, respectively, were excluded from the calculation of diluted earnings per share because they would have been anti-dilutive.

Historical Timeline

Fiscal YearFiled
2025Nov 28, 2025Showing above
2024Nov 29, 2024
2023Nov 24, 2023
2022Nov 29, 2022
2021Nov 29, 2021
2020Dec 14, 2020
2019Dec 12, 2019
2018Dec 12, 2018
2017Dec 14, 2017
2016Dec 14, 2016
2015Dec 9, 2015

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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