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StoneX Group Inc. (SNEX) stock analysis

SNEXNasdaqSecurity & Commodity Brokers, Dealers, Exchanges & ServicesFiscal year ends September 30
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026Score 17/3035% below fair value
$57.11−0.94 (-1.62%)

Close on Nov 12, 2026Market cap $6.89BP/E 13.6Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value4Growth4Performance4Health5Dividend0

Solid17 of 30 checks passed

StoneX passes 17 of the 30 checks behind our score; 8 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
4/6
Growth
4/6
Past performance
4/6
Financial health
5/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 35.0% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $58.05 is below our fair value estimate of $89.25.

  • Return on equity over 15%

    Return on equity was 21.9% over the last twelve months and averaged 17.2% over five years.

  • No debt

    StoneX has no borrowings on its latest balance sheet.

What to watch

  • EPS growing under 10% a year

    Diluted EPS grew 9.8% a year over the last three fiscal years.

  • P/E above its 5-year median

    StoneX's P/E of 13.8 is above its own 5-year median of 11.3.

  • EV/EBITDA above its 5-year median

    StoneX's EV/EBITDA of 6.2 is above its 5-year median of 2.0.

  • Net margin below the industry

    StoneX's net margin of 0.3% is below the Security & commodity brokers, dealers, exchanges & services median of 3.6%.

Valuation4/6

  • P/E above its 5-year median

    StoneX's P/E of 13.8 is above its own 5-year median of 11.3.

  • P/E below the industry

    StoneX's P/E of 13.8 is below the Security & commodity brokers, dealers, exchanges & services median of 25.3.

  • EV/EBITDA above its 5-year median

    StoneX's EV/EBITDA of 6.2 is above its 5-year median of 2.0.

  • P/B below the industry

    StoneX's price-to-book of 2.46 is below the Security & commodity brokers, dealers, exchanges & services median of 4.26.

  • Trading below fair value

    The share price of $58.05 is below our fair value estimate of $89.25.

  • Margin of safety over 20%

    The price is 35.0% below fair value, more than the 20% cushion we look for.

Growth4/6

  • Revenue growing 10%+ a year

    Revenue grew 26.1% a year over the last three fiscal years.

  • EPS growing under 10% a year

    Diluted EPS grew 9.8% a year over the last three fiscal years.

  • Earnings growth accelerating

    Net income grew 77.5% over the last twelve months, against a 5-year average of 12.5% a year.

  • Growing faster than the industry

    Revenue grew 20.6% over the last twelve months; the Security & commodity brokers, dealers, exchanges & services median is 14.4%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin improving

    Gross margin was 3.6% over the last twelve months, against 2.9% a year earlier.

Past performance4/6

  • Return on equity over 15%

    Return on equity was 21.9% over the last twelve months and averaged 17.2% over five years.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity above the industry

    StoneX's return on equity of 21.9% is above the Security & commodity brokers, dealers, exchanges & services median of 14.2%.

  • Earnings grew over 5 years

    Net income grew 12.5% a year on average over the last five fiscal years.

  • Net margin above its 5-year average

    Net margin was 0.3% over the last twelve months, against a 5-year average of 0.3%.

  • Net margin below the industry

    StoneX's net margin of 0.3% is below the Security & commodity brokers, dealers, exchanges & services median of 3.6%.

Financial health5/6

  • No debt

    StoneX has no borrowings on its latest balance sheet.

  • Debt not rising

    With no debt today, leverage cannot have risen.

  • Debt covered by cash flow

    There is no debt to cover.

  • Interest well covered

    No meaningful interest expense to cover.

  • Short-term liquidity

    The balance sheet is not split into current and non-current items.

  • Low bankruptcy risk

    The Altman Z-score is 3.06; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    StoneX has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$89.25

The share price is 35% below this estimate.

20%+ below
Near fair value
20%+ above
$58.05Price$89.25Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E18.2×11.3×25.3×$76.8040%
EV/EBITDA9.8×2.0×17.8×$81.8935%
P/B3.0×1.7×4.3×$70.5410%
Earnings power8.6% cost of equity––$152.0515%
Fair value$89.25100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 11.3
  • Security & commodity brokers, dealers, exchanges & services median 25.3

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$58.34M
Value traded per 1% price move
$32.21M

Downside

Medium risk

Typical loss in a bad month
19.7%
Volatility (annualized)
47%
Sharpe ratio, 1 year
0.85
Beta to the S&P 500 (5Y)
0.73

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

3.1%+0.7 pts over 5 years

Operating margin

–

Net margin

0.2%−0.1 pts over 5 years

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