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Global financial services firm providing commodities brokerage, trading execution and market access to institutions.
Global financial services firm providing commodities brokerage, trading execution and market access to institutions.
Earns small commissions and trading spreads on a very large volume of trades, plus interest on client cash it holds, so market activity and interest rates both matter. It acts as principal in physical commodities and foreign exchange, which inflates gross sales well beyond what it keeps. Formerly INTL FCStone.
Moat: narrow (scale, distribution, process know-how). Broad multi-asset network and physical commodities expertise are hard for smaller brokers to match.
Headquarters: New York, New York, US · Founded: 1924 · Employees: 5,430
Size StoneX (SNEX) is a United States Financials company (Investment Banks/Brokers) with a market value of $6.55B, the 996th largest of 3,117 United States companies the cockpit tracks. Shares closed at $54.31 on 6 Nov 2026.
Performance Over six months the shares fell 33.2%, against -10.9% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 20.6% over the last twelve months (peer median +3.5%); the operating margin is 1.6% (peer median 37.1%).
Valuation It trades at 13.0× forward earnings against a peer median of 8.1× (7th most expensive of 20).
Credit StoneX has 1 bond outstanding ($550M), rated BB by the agencies and trading like BB at a weighted spread of 205 bp.
Short interest Short interest is 3.4% of the free float (15 Oct 2026).
Next results Next results expected around 30 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $158B | $132B | $99.9B | $60.9B | $66.0B |
| Revenue growth | — | +33% | +64% | -8% | — |
| Gross profit | $4.66B | $3.45B | $2.89B | $2.42B | $1.60B |
| EBITDA | $2.74B | $1.98B | $1.60B | $1.22B | $511M |
| Net income | $510M | $296M | $252M | $230M | $201M |
| Free cash flow | $7.39B | $4.70B | $323M | $764M | $111M |
| Capital expenditure | $73.2M | $65.4M | $65.2M | $46.9M | $49.5M |
| Total debt | $20.0B | $15.7B | $9.66B | $5.36B | $4.16B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| StoneX SNEX | $6.55B | -33% | +21% | 2% | 13.0× | n/a |
| Marex MRX | $4.76B | +17% | +25% | 32% | 10.1× | n/a |
| IG Group Holdings plc IGG.L | $4.23B | -38% | +16% | 40% | 8.7× | n/a |
| Plus500 PLUS.L | $3.12B | -26% | +3% | 41% | 10.4× | n/a |
| CMC Markets CMCX.L | $2.54B | +79% | +16% | 27% | 10.5× | n/a |
| Interactive Brokers IBKR | $129B | -10% | +16% | 87% | 23.9× | n/a |
| Virtu Financial VIRT | $8.37B | +5% | +28% | 38% | 7.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SNEX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.6% | -3.9% | 7th lowest of 21 |
| 6-month return | -33.2% | -10.9% | 4th lowest of 21 |
| Distance from 52-week high | -42.6% | -29.4% | 9th lowest of 21 |
| Revenue growth (TTM) | +20.6% | +3.5% | 5th highest of 21 |
| Operating margin | 1.6% | 37.1% | 2nd lowest of 21 |
| Forward P/E | 13.0× | 8.1× | 7th most expensive of 20 |
| Bond spread | 205 bp | 121 bp | 2nd widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| StoneX SNEX | United States | $6.55B | -33% | +21% | 2% | 13.0× | n/a | n/a |
| NHIS 005940.KS | South Korea | $6.46B | -32% | +156% | 34% | 5.2× | n/a | n/a |
| Allfunds ALLFG.AS | Netherlands | $6.69B | +18% | +1% | 43% | 20.5× | n/a | n/a |
| Guolian Minsheng Securities 1456.HK | Hong Kong | $6.70B | -29% | +14% | 25% | 6.8× | n/a | n/a |
| Swissquote SQN.SW | Switzerland | $6.33B | -13% | +4% | 44% | 15.9× | n/a | n/a |
| Zhongtai Securities 600918.SS | China | $6.31B | -12% | -4% | 21% | 17.1× | n/a | n/a |
| Zheshang Securities 601878.SS | China | $6.03B | -10% | -4% | 32% | 13.0× | n/a | n/a |
| SDIC Capital 600061.SS | China | $5.96B | -7% | -28% | 33% | 12.0× | n/a | n/a |
| Avanza Bank AZA.ST | Sweden | $5.95B | +13% | +13% | 54% | 19.1× | n/a | n/a |
| Investec INVP.L | United Kingdom | $7.34B | +3% | -4% | 37% | 7.1× | n/a | n/a |
| MarketAxess MKTX | United States | $5.83B | +12% | +3% | 39% | 19.5× | n/a | n/a |
| Changjiang Securities 000783.SZ | China | $5.77B | -13% | +13% | 37% | 8.1× | n/a | n/a |
| Mirae Asset Sec 006800.KS | South Korea | $7.57B | -66% | +5% | 114% | 4.0× | n/a | n/a |
| Soochow Securities 601555.SS | China | $5.64B | -5% | +3% | 36% | 10.3× | n/a | n/a |
| XP Inc. Class A XP | United States | $7.83B | -21% | +17% | 32% | 6.7× | n/a | n/a |
| Galaxy Digital GLXY | United States | $5.31B | -55% | +430% | 1% | n/a | n/a | n/a |
| Guangzhou Yuexiu Capital 000987.SZ | China | $5.20B | -23% | -44% | 11% | 7.6× | n/a | n/a |
| Huaan Securities 600909.SS | China | $5.17B | +23% | -18% | 121% | 6.2× | n/a | n/a |
| KIH 071050.KS | South Korea | $5.15B | -49% | +100% | 51% | 2.4× | n/a | n/a |
| Virtu Financial VIRT | United States | $8.37B | +5% | +28% | 38% | 7.8× | n/a | n/a |
| Founder Securities 601901.SS | China | $8.52B | -4% | -21% | 47% | 11.7× | n/a | n/a |
StoneX has 1 bond outstanding with $550M face value. The agencies rate it BB; its bonds trade like BB. Weighted yield 6.55%, a spread of 205 bp over government bonds.