# StoneX Group Inc. (SNEX)

> Source: Nexqual · https://nexqual.com/SNEX · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, StoneX Group Inc. (SNEX), nexqual.com/SNEX" · informational, not investment advice.

**Price:** USD 54.92 (-2.00% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 56.04 · day 54.39–56.86 · 52w 36.45–94.66 · market cap $6.62B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $158B, net income $527M (0.3% margin), free cash flow $3.78B (SEC filings).
- Valuation: P/E 12.6x (avg 11.6x at the last 3 fiscal year-ends), net cash $373M.
- Insider open-market sales, last ~7 months: 39 Form 4 filings, $159M; 6 not under a Rule 10b5-1 plan ($23.4M); 3 by opportunistic insiders (1 outside 10b5-1 plans), 6 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $161K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.50 on a 1–5 scale) (2 analysts), mean target USD 66 (range 66–66).
- Total return with dividends: 1Y +35.0% vs S&P 500 +14.8%; 5Y +302.3% vs S&P 500 +79.1%.
- Next earnings: 2026-11-23 (date not yet confirmed by the company), EPS estimate USD 0.92, revenue estimate $0K. All companies reporting that day: https://nexqual.com/earnings/2026-11-23
- Dividend: SNEX paid no cash dividend in the last five years.
- Short interest: 4.72% of float (as of 2026-10-15), 4.1 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $42.5B | $66.0B | $60.9B | $99.9B | $132B | $158B |
| Gross profit | $1.67B | $2.11B | $2.91B | $3.44B | $4.13B | — |
| Operating income | — | -$59.5M | -$62.9M | -$64.7M | — | — |
| Net income | $116M | $207M | $239M | $261M | $306M | $527M |
| EPS (diluted) | $1.13 | $1.98 | $2.21 | $2.36 | $2.62 | — |
| Free cash flow | $2.06B | -$279M | -$70.6M | $442M | $4.32B | $3.78B |
| Gross margin | 3.9% | 3.2% | 4.8% | 3.4% | 3.1% | — |
| Operating margin | — | -0.1% | -0.1% | -0.1% | — | — |
| Net margin | 0.3% | 0.3% | 0.4% | 0.3% | 0.2% | 0.3% |
| Revenue growth | -21.4% | +55.3% | -7.8% | +64.1% | +32.5% | — |
| Cash + short-term investments | $1.11B | $1.11B | $1.11B | $1.27B | $1.61B | — |
| Total debt | $756M | $824M | $683M | $882M | $1.94B | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.6x · P/S 0.0x · EV/Sales 0.0x · P/FCF 1.8x · P/B 2.3x · FCF yield 57.13% · Earnings yield 7.95% · Net cash $373M · EV $6.25B
P/E at fiscal year-ends: Sep 2025 16.5x, Sep 2024 9.9x, Sep 2023 8.4x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
33 of 39 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-15 | Smith Philip Andrew | Chief Executive Officer | 45,000 | $2.7M | 5.7% | Yes | Routine (sold in May each year 2023–2025; this trade is outside those months) |
| 2026-10-12 | Maurer Mark Lowry |  | 52,953 | $3.2M | 19.4% | Yes | Too little history (no open-market trades in 2025) |
| 2026-10-12 | Oconnor Sean Michael | Executive Vice-Chairman-Board | 76,148 | $4.6M | 1.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-09-28 | Smith Philip Andrew | Chief Executive Officer | 56,250 | $3.7M | 7.1% | Yes | Routine (sold in May each year 2023–2025; this trade is outside those months) |
| 2026-09-14…2026-09-16 | Rotsztain Diego | Chief Governance/Legal Officer | 50,625 | $3.5M | 59.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-09-14…2026-09-15 | Maurer Mark Lowry |  | 103,092 | $7.0M | 33.7% | Yes | Too little history (no open-market trades in 2025) |
| 2026-09-14 | Perkins Abigail H | Chief Information Officer | 8,924 | $614K | 9.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-08-14 | Dunaway William J | Chief Financial Officer | 96,490 | $6.4M | 16.1% | Yes | Too little history (no open-market trades in 2024 or 2025) |
| 2026-08-10 | Perkins Abigail H | Chief Information Officer | 4,500 | $292K | 4.4% | Yes | Too little history (no open-market trades in 2023) |
| 2026-08-07 | Maurer Mark Lowry |  | 52,648 | $3.5M | 18.2% | Yes | Too little history (no open-market trades in 2025) |
| 2026-08-05 | Fowler John Moore | Director | 1,575 | $119K | 0.6% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-24 | Rotsztain Diego | Chief Governance/Legal Officer | 20,630 | $1.5M | 37.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-22 | Rotsztain Diego | Chief Governance/Legal Officer | 29,995 | $2.2M | 35.1% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-22 | Oconnor Sean Michael | Executive Vice-Chairman-Board | 104,934 | $7.8M | 1.7% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-22 | Dunaway William J | Chief Financial Officer | 95,970 | $7.1M | 16.9% | Yes | Too little history (no open-market trades in 2024 or 2025) |
| 2026-07-22 | Smith Philip Andrew | Chief Executive Officer | 45,000 | $3.3M | 5.7% | Yes | Routine (sold in May each year 2023–2025; this trade is outside those months) |
| 2026-07-22 | Maurer Mark Lowry |  | 52,376 | $3.9M | 19.2% | Yes | Too little history (no open-market trades in 2025) |
| 2026-07-20 | Perkins Abigail H | Chief Information Officer | 8,919 | $628K | 8.4% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-15 | Bexiga Annabelle G | Director | 1,500 | $171K | 7.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-30 | Smith Philip Andrew | Chief Executive Officer | 51,540 | $6.1M | 9.5% | Yes | Routine (sold in May each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $161K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-10 | Thamodaran Dhamu R. | Director | 2,500 | $161K | 64.48 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 2 analysts; mean target USD 66 (low 66, high 66).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-20 | Jefferies | Downgrade | Buy → Hold | $123 → $112 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +35.0% | +302.3% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +35.2% | +32.0% |
| Volatility (annualized) | 47.0% | 35.4% |
| Max drawdown | -39.8% (Jun 2026→Oct 2026) | -40.7% (Jun 2026→Oct 2026) |

## Dividends
SNEX paid no cash dividend in the last five years.

## Short interest
4,038,248 shares sold short, 4.72% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 4,782,592 shares (-15.6%). Days to cover: 4.1 (short shares ÷ average daily volume).

## Peers (Capital Markets)
PJT (PJT Partners Inc.) USD 151.97 +2.08% · WULF (TeraWulf Inc.) USD 12.75 -4.99% · XP (XP Inc.) USD 15.05 -6.46% · MKTX (MarketAxess Holdings, Inc.) USD 164.92 +0.06% · HUT (Hut 8 Corp.) USD 66.44 -4.35% · BGC (BGC Group, Inc.) USD 11.42 -0.17%

## More
Full page: https://nexqual.com/SNEX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.92 | $0.82 | +12.2% | $0 | 1 |
| Next quarter (ends 2026-12-31) | $1.15 | $1.15 | -0.7% | $0 | 2 |
| Current fiscal year (ends 2026-09-30) | $4.63 | $4.27 | +8.3% | $124.98B | 1 |
| Next fiscal year (ends 2027-09-30) | $4.73 | $4.43 | +6.7% | $0 | 1 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $1.04 | $0.82 | Beat +26.8% | — |
| — | Quarter ended Mar 31, 2026 | $1.44 | $1.09 | Beat +32.1% | — |
| — | Quarter ended Dec 31, 2025 | $1.11 | $0.88 | Beat +26.1% | — |
| — | Quarter ended Sep 30, 2025 | $0.72 | $0.67 | Beat +7.5% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-28 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/913760/000091376026000041/0000913760-26-000041-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/913760/000091376026000038/0000913760-26-000038-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/913760/000091376026000037/0000913760-26-000037-index.htm |
| 2026-07-31 | Schedule 13G | Vanguard Portfolio Management: 5.1% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/913760/000210012126000999/0002100121-26-000999-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.