Filing Flows › StoneX Group (SNEX) › How it makes money
How StoneX Group (SNEX) makes money
StoneX Group (SNEX) made $40.3B of revenue in the third quarter fiscal 2026 (Q3 FY26), +15% from a year earlier. Sales of physical commodities brought in $38.8B (96%); Interest income brought in $616M (2%); Principal gains, net brought in $405M (1%). Of every dollar of revenue, 4¢ was left as gross profit, 0¢ was left as operating profit, 0¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Sales of physical commodities | $38.8B | 96.3% | — | +15% |
| Interest income | $616M | 1.5% | — | -18% |
| ↳ Precious metals sales under ASC Topic 606 | $414M | 1.0% | — | -35% |
| ↳ Clearing fees | $86.7M | 0.2% | — | +77% |
| ↳ Total consulting, management, and account fees | $69.6M | 0.2% | — | +51% |
| ↳ Equities and fixed income | $46.7M | 0.1% | — | +183% |
| Principal gains, net | $405M | 1.0% | — | +21% |
| Total sales-based commission | $232M | 0.6% | — | +142% |
| Exchange-traded futures and options | $178M | 0.4% | — | +145% |
| Underwriting fees | $15.8M | 0.0% | — | 53× |
| Asset management fees | $15.2M | 0.0% | — | -11% |
| Client account fees | $14.9M | 0.0% | — | +101% |
| Sweep program fees | $9.6M | 0.0% | — | -10% |
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $40.3B | 100.0% |
| Cost of revenue | $38.7B | 96.2% |
| Gross profit | $1.5B | 3.6% |
| Operating expenses | $1.3B | 3.2% |
| Operating profit | $160M | 0.4% |
| Income tax | $31.9M | 0.1% |
| Net earnings | $128M | 0.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $40.2B | +15% |
| Q2 FY26 | $45.8B | +24% |
| Q1 FY26 | $39.0B | +40% |
| Q4 FY25 | $32.7B | +5% |
| Q3 FY25 | $34.8B | +29% |
| Q2 FY25 | $36.9B | +67% |
| Q4 FY24 | $31.1B | +87% |
From StoneX Group's 10-Q filed Aug 5, 2026 (on EDGAR).
Questions
How does StoneX Group make money?
StoneX Group (SNEX) made $40.3B of revenue in the third quarter fiscal 2026 (Q3 FY26), +15% from a year earlier. Sales of physical commodities brought in $38.8B (96%); Interest income brought in $616M (2%); Principal gains, net brought in $405M (1%). Of every dollar of revenue, 4¢ was left as gross profit, 0¢ was left as operating profit, 0¢ was left as net earnings.
What is StoneX Group's biggest business?
Sales of physical commodities: $38.8B in the third quarter fiscal 2026, 96% of revenue, +15% from a year earlier.
What is StoneX Group's profit margin?
Net earnings were $128M, 0.3% of revenue, in the third quarter fiscal 2026; the operating margin was 0.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.