Filing Flows › StoneX Group (SNEX) › Q3 FY25
StoneX Group (SNEX) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 7, 2025
StoneX Group (SNEX) reported revenue of $34.8B for the third quarter fiscal 2025 (Q3 FY25), +29% from a year earlier and -6% from the quarter before. Operating margin was 0.0%, net earnings $63.4M (0.2% of revenue).
StoneX Group, Q3 FY25: revenue $34.8B (+29% year over year), operating margin 0.0%, net earnings $63.4M, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.8B | -6% | +29% |
| Operating profit | −$10.9M | — | — |
| Net earnings | $63.4M | -12% | — |
| Operating cash flow | $1.5B | — | — |
| Free cash flow | $1.5B | — | — |
What changed
Revenue was $34.8B in Q3 FY25, up 29% year over year and down 6% from the previous quarter. Sales of physical commodities was the largest line at 97% of revenue. Sales of physical commodities added $7.6B year over year (up 29%), 99% of the total change. Advisory and consulting fees declined 37%.
Gross margin was 2.9%, down 0.4 points from a year earlier. Operating costs exceeded revenue by $0.01B, an operating margin of 0.0%. Operating expenses grew 10% against revenue growth of 29%. The fastest-growing cost line was Other operating costs (+10%). Net earnings were $0.06B, up 2% year over year. The effective tax rate was 25.9%. Non-operating items added $0.10B, 113% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.5B, 2352% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $1.4B. Capital expenditures of $0.02B left free cash flow of $1.5B.
Questions
What was StoneX Group's revenue in the third quarter fiscal 2025?
StoneX Group (SNEX) reported revenue of $34.8B for the third quarter fiscal 2025 (Q3 FY25), +29% from a year earlier and -6% from the quarter before.
Was StoneX Group profitable in the third quarter fiscal 2025?
Operating loss was $10.9M (0.0% of revenue) and net earnings $63.4M.
Source: StoneX Group 10-Q on SEC EDGAR.