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StoneX Group cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow−$1.2B in Q3 FY26 · $3.8B over twelve months

Operating cash flow−$1.2B
Capital spending−$16.2M
Free cash flow−$1.2B
Cash / net income-9.4×

Analysis

In Q3 FY26, StoneX Group generated −$1.2B of operating cash flow and spent $16.2M on capital projects, leaving free cash flow of −$1.2B. That is $2.7B less than in Q3 FY25 ($1.5B).

Over the twelve months to Jun 30, 2026, operating cash flow was $3.9B; the largest uses were acquisitions ($384M), capital spending ($73.2M), taxes on employees’ shares ($13.9M); besides operations, cash came from other financing ($605M), net borrowing (+) / repaid (−) ($188M); the cash balance rose by $4.2B.

Operating cash flow was −$1.2B against net income of $128M — -9.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: inventory −$127M, receivables +$72.9M, depreciation & amortization +$26.9M.

Free cash flow

StoneX Group: free cash flow by quarterStoneX Group: free cash flow by quarter$176MQ4 FY24−$491MQ1 FY25−$170MQ2 FY25$1.5BQ3 FY25$3.5BQ4 FY25−$1.3BQ1 FY26$2.8BQ2 FY26−$1.2BQ3 FY26
Operating cash flow less capital spending.
StoneX Group: operating cash flow against capital spendingStoneX Group: operating cash flow against capital spendingOperating cash flowCapital spending$193M$16.7MQ4 FY24−$478M$13.6MQ1 FY25−$154M$15.3MQ2 FY25$1.5B$16.0MQ3 FY25$3.5B$20.5MQ4 FY25−$1.3B$15.2MQ1 FY26$2.8B$21.3MQ2 FY26−$1.2B$16.2MQ3 FY26
Latest (Q3 FY26): Operating cash flow −$1.2B, Capital spending $16.2M.

Capital allocation, year by year

StoneX Group: where the cash came from (up) and went (down), by fiscal yearStoneX Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $2.1BFY21: Net borrowing −$33.5MFY21: Shares issued $9.2MFY21: Asset sales $3.1MFY21: Capital spending −$62.1MFY21: Acquisitions −$2.4MFY21: Buybacks −$11.7M$2.1BFY21FY22: Operating cash flow −$230MFY22: Net borrowing $236MFY22: Shares issued $6.7MFY22: Capital spending −$49.5MFY22: Acquisitions −$200K$243MFY22FY23: Operating cash flow −$23.7MFY23: Net borrowing −$154MFY23: Shares issued $3.7MFY23: Capital spending −$46.9MFY23: Acquisitions −$6.1M$3.7MFY23FY24: Operating cash flow $507MFY24: Net borrowing $200MFY24: Shares issued $7.7MFY24: Capital spending −$65.2MFY24: Acquisitions −$2.3M$714MFY24FY25: Operating cash flow $4.4BFY25: Net borrowing $942MFY25: Shares issued $10.7MFY25: Capital spending −$65.4MFY25: Acquisitions −$392M$5.3BFY25
Over these 5 years operating cash flow totalled $6.8B; the largest uses were acquisitions ($403M) and capital spending ($289M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.2B
Debtnone
Net cash$2.2B
Cash runway5 months

StoneX Group is burning cash: its operations consume cash, a free cash flow of −$4.9B a year at the current rate against $2.2B of cash and investments: a runway of about 5 months before any new financing.

Where the cash came from and went

StoneX Group: sources (+) and uses (−) of cash, Q3 FY26StoneX Group: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow−$1.2BCash drawn (+) / kept (−)$1.1BNet borrowing (+) / repaid (−)$95.9MCapital spending−$16.2MShares issued$11.1MTaxes on employees’ shares−$3.8MOther financing−$1.9MOther investing$1.7MExchange rates−$700K
StoneX Group: sources (+) and uses (−) of cash, TTM to Q3 FY26StoneX Group: sources (+) and uses (−) of cash, 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 profit to cash

StoneX Group: net income to operating cash flow, Q3 FY26StoneX Group: net income to operating cash flow, Q3 FY26Net income$128MDepreciation & amortization$26.9MStock-based pay$14.3MDeferred taxes$3.9MReceivables$72.9MInventory−$127MPayables$9.0MPrepaid and other assets−$9.8MIncome taxes payable−$1.7MOperating cash flow−$1.2B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26−$1.2B−$16.2M—$95.9M$11.1M$1.1B−$1.2B
Q2 FY26$2.8B−$21.3M$2.2M$76.0M$7.7M−$2.9B$2.8B
Q1 FY26−$1.3B−$15.2M−$7.9M−$293M$900K$1.6B−$1.3B
Q4 FY25$3.5B−$20.5M−$378M$928M$1.0M−$4.0B$3.5B
Q3 FY25$1.5B−$16.0M—$11.8M$4.9M−$1.5B$1.5B
Q2 FY25−$154M−$15.3M−$5.8M−$209M$4.0M$370M−$170M
Q1 FY25−$478M−$13.6M−$8.0M$211M$800K$330M−$491M
Q4 FY24$193M−$16.7M−$1.6M$111M$3.2M−$294M$176M

StoneX Group: income statement and cash flow

StoneX Group, Q3 FY26: revenue $40.2B (+15% year over year), operating margin 0.4%. The chart follows the revenue to costs, profit and cash.

StoneX Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.