10-Q · February 4, 2026
StoneX reported strong top-line and EPS growth for the quarter with total revenues of $39,029.9 million and diluted EPS of $2.50, both materially above the prior-year period. However, operating cash flow swung to a…
Earnings analysis · 10-Q
SNEX earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
StoneX Group Inc. reported significant growth in its Q2 2026 performance, achieving net operating revenues of $829.1 million, which marked a 70% increase year-over-year. The company's diluted EPS of $2.07 exceeded…
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StoneX Group Inc. reported significant growth in its Q2 2026 performance, achieving net operating revenues of $829.1 million, which marked a 70% increase year-over-year. The company's diluted EPS of $2.07 exceeded estimates significantly, contributing to a 143% year-over-year increase in net income to $174.3 million, reflecting robust performance across all segments fueled by recent acquisitions and heightened demand stemming from market volatility.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.07
- Segment
- Commercial
- Segment
- Institutional
- Segment
- Self-Directed/Retail
- Segment
- Payments
What stood out
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Revenue Surged by 70% YoY
Net operating revenues hit $829.1 million, up from $487.3 million in Q2 2025.
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EPS Exceeds Estimates
Diluted EPS came in at $2.07, exceeding the consensus estimate of $1.63.
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Net Income Rises 143%
Net income reached $174.3 million, up from $71.7 million in the same quarter last year.
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Strong Segment Growth Across the Board
All operating segments reported increased revenues, with the Commercial segment alone contributing $410.2 million in net operating revenues.
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Significant Contribution from Acquisitions
Acquisitions contributed $101.9 million to revenues, notably from RJO and Benchmark.
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Improved Operating Metrics
Operating revenues increased to $1.57 billion, a 64% rise YoY, reflecting strong client demand and operational execution.
What to watch
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Increased Interest Expense
Interest expense surged to $487.6 million, up 47% from $331.4 million YoY, impacting net margins.
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Integration Challenges from Acquisitions
The integration of RJO and Benchmark may pose operational risks affecting future performance.
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Variable Compensation Growth
Variable compensation increased significantly, accounting for a high percentage of total expenses, which could compress margins.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-K · November 28, 2025
StoneX (SNEX) positions itself as a vertically integrated, client-first global financial services network offering execution, clearing, OTC market-making, payments and physical commodities services. The company…
10-Q · August 7, 2025
StoneX reported a strong revenue quarter with total revenues of $34,828.8 million (Q3 2025) versus $27,069.7 million a year earlier, driven primarily by higher sales of physical commodities. Gross margin (operating…
10-Q · May 7, 2025
StoneX reported a large topline increase driven by physical commodities activity: total revenues rose to $36,890.7 million from $22,106.1 million year-over-year, while operating revenues (gross profit) were $956.0…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.