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StoneX Group vs LPL Financial Holdings: SNEX and LPLA compared
StoneX Group is the larger company: $40.2B of revenue in its latest quarter (Q3 FY26) against $5.3B for LPL Financial Holdings (Q3 2026). LPL Financial Holdings is growing faster (+17% against +15% a year earlier). LPL Financial Holdings is more profitable, with an operating margin of 9.1% against 0.4%.
Where the money goes: SNEX and LPLA
StoneX Group (SNEX) · Q3 FY26
StoneX Group, Q3 FY26: revenue $40.2B (+15% year over year), operating margin 0.4%, net earnings $128M, operating cash flow −$1.2B. The chart follows the revenue to costs, profit and cash.
LPL Financial Holdings (LPLA) · Q3 2026
LPL Financial Holdings, Q3 2026: revenue $5.3B (+17% year over year), operating margin 9.1%, net earnings $357M, operating cash flow $297M. The chart follows the revenue to costs, profit and cash.
| StoneX Group (SNEX) | LPL Financial Holdings (LPLA) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $40.2B | $5.3B |
| Revenue growth, Y/Y | +15% | +17% |
| Gross margin | 3.7% | — |
| Operating margin | 0.4% | 9.1% |
| Net earnings | $128M | $357M |
| Net margin | 0.3% | 6.7% |
| Operating cash flow | −$1.2B | $297M |
| Free cash flow | — | $67.5M |
| Market value | $6.7B | $23.8B |
| P/E | 12.7× | 17.4× |
| Analysts’ mean target | $66.00 | $404.06 |
Where the revenue comes from
StoneX Group
- Sales of physical commodities: $38.8B (96%)
- Interest income: $616M (2%)
- Principal gains, net: $405M (1%)
- Total sales-based commission: $232M (1%)
Questions
Which is bigger, StoneX Group or LPL Financial Holdings?
StoneX Group is the larger company: $40.2B of revenue in its latest quarter (Q3 FY26) against $5.3B for LPL Financial Holdings (Q3 2026).
Is StoneX Group or LPL Financial Holdings growing faster?
LPL Financial Holdings is growing faster (+17% against +15% a year earlier).
Which is more profitable, StoneX Group or LPL Financial Holdings?
LPL Financial Holdings is more profitable, with an operating margin of 9.1% against 0.4%.
More: StoneX Group earnings · how StoneX Group makes money · LPL Financial Holdings earnings · how LPL Financial Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 5, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.