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StoneX Group (SNEX) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 5, 2026 · StoneX Group (SNEX) Q3 FY26 earnings results →

Q3 FY26 Revenue up 15% year over year to $40.2B · 0¢ of every $1 of revenue kept as net profit · operating margin 0.4%

StoneX Group made $40.2B in Q3 FY26 (+15% Y/Y): Sales of physical commodities $38.8B, Interest income $616M, Principal gains, net $405M. Operating margin 0.4%, net earnings $128M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$40.2B
Year over year+15%
Operating margin0.4%
Net earnings$128M
Operating cash flow−$1.2B

Drawing the Sankey…

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StoneX Group Q3 FY26 revenue breakdown: Sankey diagram of revenue (Sales of physical commodities, Interest income, Principal gains, net, Total sales-based commission), costs, profit and cash flow
StoneX Group Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $40.2B in Q3 FY26, up 15% year over year and down 12% from the previous quarter. Sales of physical commodities was the largest line at 96% of revenue. Sales of physical commodities added $4.9B year over year (up 15%), 92% of the total change. Precious metals sales under ASC Topic 606 declined 35%.

Gross margin was 3.7%, up 0.7 points from Q3 FY25. Operating profit was $0.16B, a 0.4% margin (up 0.4 points year over year). Operating expenses grew 26% against revenue growth of 15%. The fastest-growing cost line was Sales & marketing (+28%). Net earnings were $0.13B, up 102% year over year. The effective tax rate was 20.0%.

Operating cash flow was −$1.2B. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $1.4B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$1.2B.

Quarterly history

StoneX Group revenue by quarterStoneX Group revenue by quarter$31.1BQ4 FY24$36.9BQ2 FY25$34.8BQ3 FY25$32.7BQ4 FY25$39.0BQ1 FY26$45.8BQ2 FY26$40.2BQ3 FY26
StoneX Group net earnings by quarterStoneX Group net earnings by quarter$76.7MQ4 FY24$71.7MQ2 FY25$63.4MQ3 FY25$85.7MQ4 FY25$139MQ1 FY26$174MQ2 FY26$128MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 5, 2026$40.2B+15%0.4%$128M−$1.2B
Q2 FY2610-QMay 6, 2026$45.8B+24%0.5%$174M$2.8B
Q1 FY2610-QFeb 4, 2026$39.0B+40%0.5%$139M−$1.3B
Q4 FY2510-KNov 28, 2025$32.7B+5%0.3%$85.7M$3.5B
Q3 FY2510-QAug 7, 2025$34.8B+29%0.0%$63.4M$1.5B
Q2 FY2510-QMay 7, 2025$36.9B+67%0.0%$71.7M−$154M
Q4 FY2410-KNov 29, 2024$31.1B+87%0.0%$76.7M$193M

Charts

StoneX Group: revenue growth, year over year and quarter over quarterStoneX Group: revenue growth, year over year and quarter over quarterY/YQ/Q+87%Q4 FY24+67%+18%Q2 FY25+29%-6%Q3 FY25+5%-6%Q4 FY25+40%+19%Q1 FY26+24%+17%Q2 FY26+15%-12%Q3 FY26
Latest (Q3 FY26): Y/Y +15%, Q/Q -12%.
StoneX Group: where the cash came from (+) and went (−), TTM to Q3 FY26StoneX Group: where the cash came from (+) and went (−), TTM to Q3 FY26Cash drawn (+) / kept (−)−$4.2BOperating cash flow$3.9BOther financing$605MAcquisitions−$384MNet borrowing (+) / repaid (−)$188MCapital spending−$73.2MShares issued$20.7MTaxes on employees’ shares−$13.9MOther investing−$11.2MExchange rates$4.5M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
StoneX Group: profit against cash, quarter by quarterStoneX Group: profit against cash, quarter by quarterNet incomeOperating cash flow$76.7M$193MQ4 FY24$85.1M−$478MQ1 FY25$71.7M−$154MQ2 FY25$63.4M$1.5BQ3 FY25$85.7M$3.5BQ4 FY25$139M−$1.3BQ1 FY26$174M$2.8BQ2 FY26$128M−$1.2BQ3 FY26
Latest (Q3 FY26): Net income $128M, Operating cash flow −$1.2B.
StoneX Group: diluted shares by fiscal yearStoneX Group: diluted shares by fiscal year19MFY2020MFY2130MFY2246MFY2347MFY2450MFY25
+161.3% since FY20: more shares outstanding (issuance, stock pay).
StoneX Group in its industry: growth against margin (9 companies, SIC 6200)StoneX Group in its industry: growth against margin (9 companies, SIC 6200)revenue growth, year over year →↑ operating marginmedian +17%median 31%LPLAICENDAQCMECBOEBGCTWTOPSNEX (+15%, 0%)
Security & Commodity Brokers, Dealers, Exchanges & Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About StoneX Group

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.

In its own words, from its 10-K, filed Nov 28, 2025.

StoneX Group against its Security & Commodity Brokers, Dealers, Exchanges & Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +17%. Operating margin: 0.4% against the peers' median 30.6%.

CompanyQuarterRevenueY/YOp. margin
SNEX StoneX GroupQ3 FY26$40.2B+15%0.4%
LPLA LPL Financial HoldingsQ3 2026$5.3B+17%9.1%
ICE Intercontinental ExchangeQ3 2026$3.6B+21%38.8%
NDAQ NasdaqQ3 2026$2.4B+21%30.6%
CME CME GroupQ3 2026$1.7B+13%65.7%
CBOE Cboe Global MarketsQ3 2026$1.4B+19%39.3%
BGC BGC GroupQ3 2026$833M+13%11.8%
TW Tradeweb MarketsQ3 2026$585M+15%43.4%
TOP TOP Financial GroupQ2 FY27$2.2M+44%12.4%

Source: StoneX Group 10-Q on SEC EDGAR · CIK 913760 · Security & Commodity Brokers, Dealers, Exchanges & Services

Guidance and outlook

StoneX Group: what its forward-looking statements are about (10-Q filed 2026-08-05)StoneX Group: what its forward-looking statements are about (10-Q filed 2026-08-05)Other6Financing5Buybacks & dividends1Costs1
13 statements; tone -0.08 (−1 all cautious, +1 all confident); 1 hedged.
StoneX Group: outlook statements against the filing beforeStoneX Group: outlook statements against the filing beforeNew1Updated1Cautious1

13F: who owns SNEX and who is buying

Largest holders of SNEX (13F)Largest holders of SNEX (13F)BlackRock$1.3BDuPont Capital Management$1.1BVanguard Portfolio Management LLC$474MVanguard Group$384MVanguard Capital Management LLC$380MPrice T Rowe Associates$370MAmerican Century Companies$351MState Street$344MT. Rowe Price Investment Manageme…$277MGeode Capital Management, LLC$247M
Funds' net buying of SNEX by quarter (13F)Funds' net buying of SNEX by quarter (13F)−$18.9M2024-09−$28.1M2024-12$114M2025-03$60.1M2025-06$123M2025-09$153M2025-12$103M2026-03−$177M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SNEX

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：StoneX Group（SNEX）财报

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