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StoneX Group Inc. Reports Fiscal 2025 Third Quarter Financial Results

1. StoneX reported Q3 2025 net operating revenues of $488.3 million, up 4%. 2. Significant growth in Institutional and Retail segments offset declines in Commercial business. 3. Recent acquisitions of R.J. O’Brien and The Benchmark Company aim to enhance market position. 4. Net income increased 2% year-over-year despite acquisition-related charges impacting EPS. 5. Return on equity decreased to 13.1%, indicating potential concerns over profitability.

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FAQ

Why Bullish?

The positive revenue growth and strategic acquisitions suggest a strong future outlook for SNEX. Historical performance indicates similar acquisitions have enhanced profitability; for instance, previous mergers boosted revenue diversity and market reach.

How important is it?

The article discusses significant financial metrics and strategic acquisitions which are pivotal for SNEX's growth trajectory, directly impacting shareholder confidence and future stock performance.

Why Long Term?

Growth from acquisitions typically develops over time, enhancing prospects as synergies materialize. Past acquisitions, like R.J. O’Brien, showed significant long-term revenue contributions.

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RJ O'BrienBENC
Quarterly Net Operating Revenues of $488.3 million, up 4%   Quarterly Net Income of $63.4 million, Quarterly ROE of 13.1%, YTD ROE of 15.9% Quarterly Diluted EPS of $1.22 per share NEW YORK, Aug. 05, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the “Company”; NASDAQ: SNEX), a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise, today announced its financial results for the fiscal year 2025 third quarter ended June 30, 2025. Sean O’Connor, the Company’s Executive Vice-Chairman of the Board, stated, “The diversity of our business model was on display in our third quarter results, as significant growth in our Institutional segment net operating revenues, most notably in equity markets, combined with a strong performance in our Self-Directed/Retail segment, more than offset declines in our Commercial businesses due to diminished commodity volatility and tariff related uncertainty. This resulted in modest growth in net income versus the prior year despite $8.9 million in acquisition-related charges in the current quarter, including $6.5 million in bridge loan financing charges and $2.4 million in professional fees, which combined equated to a reduction of approximately $0.12 in diluted EPS for the quarter. We were excited to announce the closing of the acquisitions of R.J. O’Brien and The Benchmark Company, LLC on July 31, 2025. R.J. O’Brien, the oldest futures brokerage in the U.S., brings an attractive financial profile, having generated approximately $766 million in revenue and approximately $170 million in EBITDA during calendar 2024 and we believe positions us as a market leader in global derivatives. The Benchmark Company, LLC, enhances our capital markets offering, adding a full-service investment banking firm with a robust sales and trading platform, award-winning equity research, and a highly experienced investment banking team, while further expanding our client base. We believe that the ability to offer our expansive range of products to this newly acquired client base, as well as offering these expanded capabilities to our existing clients, positions us well to continue to drive results for our shareholders in the future.” StoneX Group Inc. Summary Financials Condensed consolidated financial statements for the Company will be included in our Quarterly Report on Form 10-Q to be filed with the Securities and Exchange Commission (the “SEC”). Upon filing, the Quarterly Report on Form 10-Q will also be made available on the Company’s website at www.stonex.com.      Three Months Ended June 30, Nine Months Ended June 30,(Unaudited) (in millions, except share and per share amounts)2025 2024  % Change 2025 2024  % ChangeRevenues:           Sales of physical commodities$33,839.9  $26,196.2  29% $96,883.6  $66,339.0  46%Principal gains, net 334.0   305.6  9%  943.4   881.2  7%Commission and clearing fees 166.0   143.0  16%  479.6   408.9  17%Consulting, management, and account fees 46.2   45.3  2%  138.3   124.0  12%Interest income 442.7   379.6  17%  1,209.9   995.7  22%Total revenues 34,828.8   27,069.7  29%  99,654.8   68,748.8  45%Cost of sales of physical commodities 33,804.5   26,156.0  29%  96,730.2   66,232.7  46%Operating revenues 1,024.3   913.7  12%  2,924.6   2,516.1  16%Transaction-based clearing expenses 94.9   81.0  17%  273.2   233.8  17%Introducing broker commissions 49.7   43.1  15%  139.5   124.2  12%Interest expense 371.3   297.0  25%  994.1   792.2  25%Interest expense on corporate funding 20.1   24.1  (17)%  50.1   53.5  (6)%Net operating revenues 488.3   468.5  4%  1,467.7   1,312.4  12%Compensation and other expenses:           Variable compensation and benefits 143.9   140.6  2%  423.9   386.2  10%Fixed compensation and benefits 123.4   116.9  6%  363.0   323.8  12%Trading systems and market information 21.3   20.1  6%  60.8   58.2  4%Professional fees 23.9   20.0  20%  59.4   55.0  8%Non-trading technology and support 21.1   18.7  13%  61.7   53.6  15%Occupancy and equipment rental 14.3   13.5  6%  40.4   34.8  16%Selling and marketing 13.0   12.8  2%  38.4   40.1  (4)%Travel and business development 7.9   6.9  14%  23.4   21.1  11%Communications 2.2   1.9  16%  6.4   6.4  —%Depreciation and amortization 14.9   12.3  21%  46.2   35.8  29%Bad debts (recoveries), net 0.4   0.5  (20)%  2.3   (0.2) n/mOther 15.1   18.1  (17)%  46.6   50.3  (7)%Total compensation and other expenses 401.4   382.3  5%  1,172.5   1,065.1  10%Other (loss) gains, net (1.3)  1.8  n/m  4.4   8.7  (49)%Income before tax 85.6   88.0  (3)%  299.6   256.0  17%Income tax expense 22.2   26.1  (15)%  79.4   71.9  10%Net income$63.4  $61.9  2% $220.2  $184.1  20%Earnings per share:(1)           Basic$1.29  $1.30  (1)% $4.55  $3.89  17%Diluted$1.22  $1.25  (2)% $4.32  $3.76  15%Weighted-average number of common shares outstanding:(1)           Basic 47,115,819   45,964,905  3%  46,773,656   45,673,929  2%Diluted 49,952,164   47,614,548  5%  49,302,730   47,231,055  4%            Return on equity (“ROE”)(2) 13.1%  15.7%    15.9%  16.4%  ROE on tangible book value(2) 13.8%  16.5%    16.7%  17.4%  n/m = not meaningful to present as a percentage (1)On March 21, 2025, the Company effected a three-for-two stock dividend to stockholders of record as of March 11, 2025. The stock split increased the number of shares of common stock outstanding. All share and per share amounts have been retroactively adjusted for the stock split.(2)The Company calculates ROE on stated book value based on net income divided by average stockholders’ equity. For the calculation of ROE on tangible book value, the amount of goodwill and intangibles, net is excluded from stockholders’ equity.   The following table presents our consolidated operating revenues by segment for the periods indicated.  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024  % Change 2025 2024 % ChangeSegment operating revenues represented by:           Commercial$225.8  $262.2  (14)% $706.7  $661.1  7%Institutional 626.0   508.9  23%  1,726.8   1,408.0  23%Self-Directed/Retail 114.2   96.2  19%  331.7   290.7  14%Payments 53.3   51.1  4%  161.7   161.0  —%Corporate 15.7   8.3  89%  43.5   31.9  36%Eliminations (10.7)  (13.0) (18)%  (45.8)  (36.6) 25%Operating revenues$1,024.3  $913.7  12% $2,924.6  $2,516.1  16%                       The following table presents our consolidated income by segment for the periods indicated.  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024  % Change 2025 2024 % ChangeSegment income represented by:           Commercial$80.2  $125.7  (36)% $279.1  $298.5  (6)%Institutional 87.4   62.2  41%  252.0   188.7  34%Self-Directed/Retail 41.2   27.6  49%  120.1   89.5  34%Payments 28.1   28.2  —%  86.7   87.8  (1)%Total segment income$236.9  $243.7  (3)% $737.9  $664.5  11%Reconciliation of segment income to income before tax:      Segment income$236.9  $243.7  (3)% $737.9  $664.5  11%Net operating loss within Corporate (1) (10.9)  (26.9) (59)%  (40.6)  (55.3) (27)%Overhead costs and expenses (140.4)  (128.8) 9%  (397.7)  (353.2) 13%Income before tax$85.6  $88.0  (3)% $299.6  $256.0  17% (1)Includes interest expense on corporate funding.   Key Operating Metrics The tables below present operating revenues disaggregated across the key products we provide to our clients and select operating data and metrics used by management in evaluating our performance, for the periods indicated.  Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeOperating Revenues (in millions):           Listed derivatives$126.4  $130.5  (3)% $366.6  $351.4  4%Over-the-counter (“OTC”) derivatives 58.9   66.2  (11)%  155.8   163.7  (5)%Securities 485.7   374.0  30%  1,314.2   1,030.9  27%FX/Contracts for difference (“CFD”) contracts 87.4   76.5  14%  256.9   231.4  11%Payments 52.3   50.0  5%  158.3   157.8  —%Physical contracts 55.9   67.3  (17)%  221.1   164.6  34%Interest/fees earned on client balances 102.9   115.9  (11)%  312.2   318.5  (2)%Other 49.8   38.0  31%  141.8   102.5  38%Corporate 15.7   8.3  89%  43.5   31.9  36%Eliminations (10.7)  (13.0) (18)%  (45.8)  (36.6) 25% $1,024.3  $913.7  12% $2,924.6  $2,516.1  16%Volumes and Other Select Data:       Listed derivatives (contracts, 000’s) 56,759   52,736  8%  171,092   157,299  9%Listed derivatives, average rate per contract (“RPC”)(1)$2.13  $2.39  (11)% $2.06  $2.13  (3)%Average client equity - listed derivatives (millions)$6,558  $5,957  10% $6,606  $6,063  9%OTC derivatives (contracts, 000’s) 1,018   959  6%  2,774   2,584  7%OTC derivatives, average RPC$58.06  $69.03  (16)% $56.68  $63.53  (11)%Securities average daily volume (“ADV”) (millions)$9,219  $7,358  25% $8,953  $7,013  28%Securities rate per million (“RPM”) (2)$276  $239  15% $264  $256  3%Average money market/FDIC sweep client balances (millions)$1,208  $968  25% $1,229  $1,025  20%FX/CFD contracts ADV (millions)$12,190  $10,861  12% $11,805  $10,744  10%FX/CFD contracts RPM$111  $111  —% $114  $113  1%Payments ADV (millions)$80  $69  16% $81  $69  17%Payments RPM$10,614  $11,264  (6)% $10,515  $12,053  (13)% (1)Give-up fee revenues, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average rate per contract.(2)Interest expense associated with our fixed income activities is deducted from operating revenues in the calculation of Securities RPM while interest income related to securities lending is excluded.   Interest expense  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024 % Change 2025 2024 % ChangeInterest expense attributable to:           Trading activities:           Institutional dealer in fixed income securities$295.5  $229.1  29% $751.7  $599.2  25%Securities borrowing 25.0   16.6  51%  68.4   45.2  51%Client balances on deposit 34.8   31.7  10%  99.7   99.4  —%Short-term financing facilities of subsidiaries and other direct interest of operating segments 16.0   19.6  (18)%  74.3   48.4  54%  371.3   297.0  25%  994.1   792.2  25%Corporate funding 20.1   24.1  (17)%  50.1   53.5  (6)%Total interest expense$391.4  $321.1  22% $1,044.2  $845.7  23%                       The increase in interest expense attributable to fixed income securities and securities borrowing was principally due to the growth in the size of the security repo and securities lending businesses. During the three months ended June 30, 2025, interest expense attributable to corporate funding included $6.5 million of bridge loan financing fees related to the amendment of our revolving credit facility and the issuance of the Senior Secured Notes due 2032, which closed on July 8, 2025, both of which were done in conjunction with the acquisition of R.J. O’Brien, which closed on July 31, 2025. During the three months ended June 30, 2024, interest expense attributable to corporate funding included incremental interest from our March 1, 2024 issuance of the Senior Secured Notes due 2031. While funds from the issuance of the Senior Secured Notes due 2031 were used to redeem the Senior Secured Notes due 2025, the redemption did not occur until June 17, 2024, in order to allow us to redeem those notes at par. At the redemption of the Senior Secured Notes due 2025, we also recognized a $3.7 million loss on the extinguishment of debt related to the write-off of unamortized original issue discount and deferred financing costs. Net Operating Revenues The table below presents a disaggregation of consolidated net operating revenues used by management in evaluating our performance, for the periods indicated:  Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeNet Operating Revenues (in millions):           Listed derivatives$56.9  $65.3  (13)% $167.1  $163.9  2%OTC derivatives 58.8   66.2  (11)%  155.6   163.6  (5)%Securities 125.5   86.2  46%  348.1   270.7  29%FX/CFD contracts 77.4   67.6  14%  230.2   205.6  12%Payments 49.1   47.5  3%  149.8   150.4  —%Physical contracts 33.3   55.8  (40)%  159.0   134.6  18%Interest, net / fees earned on client balances 73.9   86.4  (14)%  225.8   223.4  1%Other 24.3   20.4  19%  72.7   55.5  31%Corporate (10.9)  (26.9) (59)%  (40.6)  (55.3) (27)% $488.3  $468.5  4% $1,467.7  $1,312.4  12%                       Variable vs. Fixed ExpensesThe table below sets forth our variable expenses and non-variable expenses as a percentage of total non-interest expenses for the periods indicated.  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 % ofTotal 2024 % ofTotal 2025 % ofTotal 2024 % ofTotalVariable compensation and benefits$143.9  26% $140.6  28% $423.9  27% $386.2  27%Transaction-based clearing expenses 94.9  18%  81.0  16%  273.2  17%  233.8  16%Introducing broker commissions 49.7  9%  43.1  8%  139.5  9%  124.2  9%Total variable expenses 288.5  53%  264.7  52%  836.6  53%  744.2  52%Fixed compensation and benefits 123.4  23%  116.9  23%  363.0  23%  323.8  23%Other fixed expenses 133.7  24%  124.3  25%  383.3  24%  355.3  25%Bad debts (recoveries), net 0.4  —%  0.5  —%  2.3  —%  (0.2) —%Total non-variable expenses 257.5  47%  241.7  48%  748.6  47%  678.9  48%Total non-interest expenses$546.0  100% $506.4  100% $1,585.2  100% $1,423.1  100%                             Other (Loss) Gains, net The results of the three months ended June 30, 2025 included a $2.3 million loss on the disposal of certain capitalized hardware expenditures, partially offset by a gain of $1.0 million resulting from proceeds received from a class action settlement. Segment Results Our business activities are managed through four operating segments, including Commercial, Institutional, Self-Directed/Retail and Payments. The tables below present the financial performance, a disaggregation of operating revenues, select operating data and metrics, and a disaggregation of net operating revenue used by management in evaluating the performance of our segments, for the periods indicated. Additional information on the performance of our segments will be included in our Quarterly Report on Form 10-Q to be filed with the SEC. Commercial  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024 % Change 2025 2024 % ChangeRevenues:           Sales of physical commodities$33,828.7  $26,186.1  29% $96,817.9  $66,305.6  46%Principal gains, net 96.0   113.7  (16)%  252.8   264.5  (4)%Commission and clearing fees 55.1   52.3  5%  158.1   143.6  10%Consulting, management and account fees 6.1   7.1  (14)%  19.2   20.0  (4)%Interest income 42.9   51.1  (16)%  141.8   133.7  6%Total revenues 34,028.8   26,410.3  29%  97,389.8   66,867.4  46%Cost of sales of physical commodities 33,803.0   26,148.1  29%  96,683.1   66,206.3  46%Operating revenues 225.8   262.2  (14)%  706.7   661.1  7%Transaction-based clearing expenses 21.5   19.0  13%  58.2   51.7  13%Introducing broker commissions 12.8   11.7  9%  37.2   33.0  13%Interest expense 23.2   11.0  111%  60.5   28.3  114%Net operating revenues 168.3   220.5  (24)%  550.8   548.1  —%Variable compensation and benefits 44.0   51.8  (15)%  140.9   133.7  5%Net contribution 124.3   168.7  (26)%  409.9   414.4  (1)%Fixed compensation and benefits 19.9   19.5  2%  56.6   51.5  10%Other fixed expenses 25.2   23.5  7%  74.3   71.3  4%Bad debts (recoveries), net —   —  —%  0.9   —  n/mNon-variable direct expenses 45.1   43.0  5%  131.8   122.8  7%Other gains 1.0   —  n/m  1.0   6.9  (86)%Segment income 80.2   125.7  (36)%  279.1   298.5  (6)%Allocation of overhead costs 9.8   8.9  10%  29.4   26.6  11%Segment income, less allocation of overhead costs$70.4  $116.8  (40)% $249.7  $271.9  (8)%                        Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeOperating Revenues (in millions):           Listed derivatives$72.7  $78.6  (8)% $210.4  $197.1  7%OTC derivatives 58.9   66.2  (11)%  155.8   163.7  (5)%Physical contracts 52.4   65.3  (20)%  213.9   159.8  34%Interest/fees earned on client balances 35.4   45.2  (22)%  106.7   120.5  (11)%Other 6.4   6.9  (7)%  19.9   20.0  (1)% $225.8  $262.2  (14)% $706.7  $661.1  7%            Volumes and Other Select Data:  Listed derivatives (contracts, 000’s) 13,081   10,547  24%  35,124   29,704  18%Listed derivatives, average RPC (1)$5.33  $7.21  (26)% $5.77  $6.39  (10)%Average client equity - listed derivatives (millions)$1,734  $1,751  (1)% $1,732  $1,712  1%OTC derivatives (contracts, 000’s) 1,018   959  6%  2,774   2,584  7%OTC derivatives, average RPC$58.06  $69.03  (16)% $56.68  $63.53  (11)% (1)Give-up fee revenues, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average RPC.    Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeNet Operating Revenues (in millions):           Listed derivatives$42.3  $51.9  (18)% $126.2  $123.0  3%OTC derivatives 58.8   66.2  (11)%  155.6   163.6  (5)%Physical contracts 30.1   53.8  (44)%  152.5   130.1  17%Interest/fees earned on client balances 30.7   42.1  (27)%  96.6   111.6  (13)%Other 6.4   6.5  (2)%  19.9   19.8  1% $168.3  $220.5  (24)% $550.8  $548.1  —%                       Institutional  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024 % Change 2025 2024 % ChangeRevenues:           Sales of physical commodities$—  $—  —% $—  $—  —%Principal gains, net 115.6   89.2  30%  332.1   290.0  15%Commission and clearing fees 97.2   77.6  25%  278.3   225.7  23%Consulting, management and account fees 20.6   21.0  (2)%  61.4   56.0  10%Interest income 392.6   321.1  22%  1,055.0   836.3  26%Total revenues 626.0   508.9  23%  1,726.8   1,408.0  23%Cost of sales of physical commodities —   —  —%  —   —  —%Operating revenues 626.0   508.9  23%  1,726.8   1,408.0  23%Transaction-based clearing expenses 67.5   57.3  18%  197.6   166.2  19%Introducing broker commissions 7.8   8.6  (9)%  23.1   24.3  (5)%Interest expense 350.6   285.3  23%  941.0   761.4  24%Net operating revenues 200.1   157.7  27%  565.1   456.1  24%Variable compensation and benefits 63.7   52.9  20%  182.4   148.6  23%Net contribution 136.4   104.8  30%  382.7   307.5  24%Fixed compensation and benefits 21.6   19.6  10%  62.0   56.4  10%Other fixed expenses 25.1   23.0  9%  67.8   64.2  6%Bad debts (recoveries), net —   —  —%  (0.1)  (1.8) (94)%Non-variable direct expenses 46.7   42.6  10%  129.7   118.8  9%Other loss, net (2.3)  —  n/m  (1.0)  —  n/mSegment income 87.4   62.2  41% $252.0  $188.7  34%Allocation of overhead costs 14.9   13.1  14%  44.8   39.2  14%Segment income, less allocation of overhead costs$72.5  $49.1  48% $207.2  $149.5  39%                        Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeOperating Revenues (in millions):           Listed derivatives$53.7  $51.9  3% $156.2  $154.3  1%Securities 456.1   348.6  31%  1,228.4   957.1  28%FX contracts 7.8   9.1  (14)%  25.3   24.7  2%Interest/fees earned on client balances 67.0   70.1  (4)%  203.7   196.0  4%Other 41.4   29.2  42%  113.2   75.9  49% $626.0  $508.9  23% $1,726.8  $1,408.0  23%            Volumes and Other Select Data:          Listed derivatives (contracts, 000’s) 43,678   42,188  4%  135,969   127,595  7%Listed derivatives, average RPC (1)$1.17  $1.18  (1)% $1.10  $1.14  (4)%Average client equity - listed derivatives (millions)$4,825  $4,206  15% $4,874  $4,352  12%Securities ADV (millions)$9,219  $7,358  25% $8,953  $7,013  28%Securities RPM (2)$276  $239  15% $264  $256  3%Average money market/FDIC sweep client balances (millions)$1,208  $968  25% $1,229  $1,025  20%FX contracts ADV (millions)$2,913  $3,958  (26)% $3,320  $3,997  (17)%FX contracts RPM$41  $40  3% $39  $35  11% (1)Give-up fees, related to contract execution for clients of other FCMs, are excluded from the calculation of listed derivatives, average RPC.(2)Interest expense associated with our fixed income activities is deducted from operating revenues in the calculation of Securities RPM, while interest income related to securities lending is excluded.    Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeNet Operating Revenues (in millions):           Listed derivatives$14.6  $13.4  9% $40.9  $40.9  —%Securities 119.8   80.9  48%  329.9   255.1  29%FX contracts 7.2   7.8  (8)%  22.8   21.3  7%Interest/fees earned on client balances 42.7   43.7  (2)%  127.4   109.8  16%Other 15.8   11.9  33%  44.1   29.0  52% $200.1  $157.7  27% $565.1  $456.1  24%                       Self-Directed/Retail  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024 % Change 2025 2024 % ChangeRevenues:           Sales of physical commodities$11.2  $10.1  11% $65.7  $33.4  97%Principal gains, net 64.9   56.9  14%  194.6   174.3  12%Commission and clearing fees 12.6   12.2  3%  39.8   37.1  7%Consulting, management and account fees 18.6   14.9  25%  53.9   42.9  26%Interest income 8.4   10.0  (16)%  24.8   29.4  (16)%Total revenues 115.7   104.1  11%  378.8   317.1  19%Cost of sales of physical commodities 1.5   7.9  (81)%  47.1   26.4  78%Operating revenues 114.2   96.2  19%  331.7   290.7  14%Transaction-based clearing expenses 3.6   3.2  13%  10.2   10.2  —%Introducing broker commissions 27.9   22.0  27%  76.1   64.8  17%Interest expense 2.1   2.5  (16)%  6.2   5.9  5%Net operating revenues 80.6   68.5  18%  239.2   209.8  14%Variable compensation and benefits 4.2   4.8  (13)%  11.8   13.6  (13)%Net contribution 76.4   63.7  20%  227.4   196.2  16%Fixed compensation and benefits 8.0   11.4  (30)%  26.3   33.0  (20)%Other fixed expenses 26.8   26.0  3%  83.9   74.9  12%Bad debts, net of recoveries 0.4   0.5  (20)%  1.5   0.6  150%Non-variable direct expenses 35.2   37.9  (7)%  111.7   108.5  3%Other gains —   1.8  (100)%  4.4   1.8  144%Segment income 41.2   27.6  49%  120.1   89.5  34%Allocation of overhead costs 12.7   11.9  7%  38.0   35.4  7%Segment income, less allocation of overhead costs$28.5  $15.7  82% $82.1  $54.1  52%                        Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeOperating Revenues (in millions):           Securities$29.6  $25.4  17% $85.8  $73.8  16%FX/CFD contracts 79.6   67.4  18%  231.6   206.7  12%Physical contracts 3.5   2.0  75%  7.2   4.8  50%Interest/fees earned on client balances 0.5   0.6  (17)%  1.8   2.0  (10)%Other 1.0   0.8  25%  5.3   3.4  56% $114.2  $96.2  19% $331.7  $290.7  14%            Volumes and Other Select Data:  FX/CFD contracts ADV (millions)$9,277  $6,904  34% $8,485  $6,746  26%FX/CFD contracts RPM$133  $152  (13)% $143  $160  (11)%                        Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeNet Operating Revenues (in millions):           Securities$5.7  $5.3  8% $18.2  $15.6  17%FX/CFD contracts 70.2   59.8  17%  207.4   184.3  13%Physical contracts 3.2   2.0  60%  6.5   4.5  44%Interest/fees earned on client balances 0.5   0.6  (17)%  1.8   2.0  (10)%Other 1.0   0.8  25%  5.3   3.4  56% $80.6  $68.5  18% $239.2  $209.8  14%                       Payments  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024 % Change 2025 2024 % ChangeRevenues:           Sales of physical commodities$—  $—  —% $—  $—  —%Principal gains, net 51.1   47.5  8%  153.2   151.5  1%Commission and clearing fees 1.8   1.5  20%  5.2   4.4  18%Consulting, management, account fees 0.1   1.7  (94)%  1.9   3.4  (44)%Interest income 0.3   0.4  (25)%  1.4   1.7  (18)%Total revenues 53.3   51.1  4%  161.7   161.0  —%Cost of sales of physical commodities —   —  —%  —   —  —%Operating revenues 53.3   51.1  4%  161.7   161.0  —%Transaction-based clearing expenses 1.9   1.6  19%  5.4   5.1  6%Introducing broker commissions 1.2   0.8  50%  3.1   2.1  48%Interest expense —   —  —%  —   0.1  (100)%Net operating revenues 50.2   48.7  3%  153.2   153.7  —%Variable compensation and benefits 8.9   8.6  3%  26.8   28.7  (7)%Net contribution 41.3   40.1  3%  126.4   125.0  1%Fixed compensation and benefits 7.1   7.0  1%  21.1   21.6  (2)%Other fixed expenses 6.1   4.9  24%  18.6   14.6  27%Bad debts, net of recoveries —   —  —%  —   1.0  (100)%Total non-variable direct expenses 13.2   11.9  11%  39.7   37.2  7%Segment income 28.1   28.2  —%  86.7   87.8  (1)%Allocation of overhead costs 5.6   5.3  6%  16.9   15.6  8%Segment income, less allocation of overhead costs$22.5  $22.9  (2)% $69.8  $72.2  (3)%                        Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeOperating Revenues (in millions):           Payments$52.3  $50.0  5% $158.3  $157.8  —%Other 1.0   1.1  (9)%  3.4   3.2  6% $53.3  $51.1  4% $161.7  $161.0  —%            Volumes and Other Select Data:  Payments ADV (millions)$80  $69  16% $81  $69  17%Payments RPM$10,614  $11,264  (6)% $10,515  $12,053  (13)%                        Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 % Change 2025 2024 % ChangeNet Operating Revenues (in millions):           Payments$49.1  $47.5  3% $149.8  $150.4  —%Other 1.1   1.2  (8)%  3.4   3.3  3% $50.2  $48.7  3% $153.2  $153.7  —%                       Overhead Costs and Expenses We incur overhead costs and expenses, including certain shared services such as information technology, accounting and treasury, credit and risk, legal and compliance, and human resources and other activities. The following table provides information regarding overhead costs and expenses. The allocation of overhead costs to operating segments includes costs associated with compliance, technology, and credit and risk costs. The share of allocated costs is based on resources consumed by the relevant businesses. In addition, the allocation of human resources and occupancy costs is principally based on employee costs within the relevant businesses.  Three Months Ended June 30, Nine Months Ended June 30,(in millions)2025 2024 % Change 2025 2024 % ChangeCompensation and benefits:           Variable compensation and benefits$20.8  $21.1  (1)% $56.9  $56.9  —%Fixed compensation and benefits 57.8   52.5  10%  174.3   141.8  23%  78.6   73.6  7%  231.2   198.7  16%Other expenses:           Occupancy and equipment rental 12.7   13.1  (3)%  36.9   33.5  10%Non-trading technology and support 17.0   14.3  19%  48.4   40.9  18%Professional fees 11.2   8.1  38%  28.6   23.9  20%Depreciation and amortization 7.1   6.1  16%  20.3   17.7  15%Communications 1.5   1.3  15%  4.4   4.5  (2)%Selling and marketing 1.9   0.4  375%  5.1   6.0  (15)%Trading systems and market information 2.5   2.5  —%  5.9   5.7  4%Travel and business development 2.7   2.5  8%  7.5   6.3  19%Other 5.2   6.9  (25)%  9.4   16.0  (41)%  61.8   55.2  12%  166.5   154.5  8%Overhead costs and expenses 140.4   128.8  9%  397.7   353.2  13%Allocation of overhead costs (43.0)  (39.2) 10%  (129.1)  (116.8) 11%Overhead costs and expense, net of allocation to operating segments$97.4  $89.6  9% $268.6  $236.4  14%                       Balance Sheet Summary The following table below provides a summary of asset, liability and stockholders’ equity information for the periods indicated. (Unaudited) (in millions, except for share and per share amounts)June 30, 2025 September 30, 2024Summary asset information:   Cash and cash equivalents$1,313.1  $1,269.0 Cash, securities and other assets segregated under federal and other regulations$2,924.3  $2,841.2 Securities purchased under agreements to resell$8,159.3  $5,201.5 Securities borrowed$2,486.2  $1,662.3 Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net$7,880.6  $7,283.2 Receivables from clients, net and notes receivable, net$961.7  $1,013.1 Financial instruments owned, at fair value$8,973.9  $6,767.1 Physical commodities inventory, net$705.4  $681.1 Property and equipment, net$148.7  $143.1 Operating right of use assets$161.4  $157.0 Goodwill and intangible assets, net$88.9  $80.6 Other$462.1  $367.1     Summary liability and stockholders’ equity information:   Accounts payable and other accrued liabilities$607.5  $548.8 Operating lease liabilities$207.7  $195.9 Payables to clients$10,956.8  $10,345.9 Payables to broker-dealers, clearing organizations and counterparties$503.0  $734.2 Payables to lenders under loans$352.7  $338.8 Senior secured borrowings, net$543.9  $543.1 Securities sold under agreements to repurchase$13,375.4  $8,581.3 Securities loaned$2,032.1  $1,615.9 Financial instruments sold, not yet purchased, at fair value$3,707.7  $2,853.3 Stockholders’ equity$1,978.8  $1,709.1     Common stock outstanding - shares 49,029,208   47,811,539 Net asset value per share$40.36  $35.75          Conference Call & Web Cast A conference call to discuss the Company’s financial results will be held tomorrow, Wednesday, August 6, 2025 at 9:00 a.m. Eastern time. The call may also include discussion of Company developments, and forward-looking and other material information about business and financial matters. A live webcast of the conference call as well as additional information to review during the call will be made available in PDF form on-line on the Company’s corporate web site at https://register-conf.media-server.com/register/BI844176c186b3462a83744b4b3946a567 approximately ten minutes prior to the start time. Participants may preregister for the conference call here. For those who cannot access the live broadcast, a replay of the call will be available at https://www.stonex.com. About StoneX Group Inc. StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and payments clients, and more than 400,000 retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at www.stonex.com. Forward Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company’s financial condition, results of operations, business strategy, financial needs of the Company, the anticipated timing of the Company’s acquisition of R.J. O’Brien and the impact of the transaction. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to StoneX Group Inc., are intended to identify forward-looking statements. These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of the Company, including statements about the benefits of our acquisition of RJO, including expected synergies and future financial and operating results, the plans, objectives, expectations and intentions of StoneX after the acquisition, adverse changes in economic, political and market conditions, including losses from our market-making and trading activities arising from counterparty failures, global trade policies and tariffs, the loss of key personnel, the impact of increasing competition, the impact of changes in government regulation, uncertainty concerning fiscal or monetary policies established by central banks and financial regulators, the possibility of liabilities arising from violations of foreign, United States (“U.S.”) federal and U.S. state securities laws, the impact of changes in technology in the securities and commodities trading industries, and other risks discussed in our filings with the SEC, including Part I, Item 1A of our Annual Report on Form 10-K for the year ended September 30, 2024. Although we believe that our forward-looking statements are based upon reasonable assumptions regarding our business and future market conditions, there can be no assurances that our actual results will not differ materially from any results expressed or implied by our forward-looking statements. These forward-looking statements speak only as of the date of this press release. StoneX Group Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. StoneX Group Inc. Investor inquiries: Kevin Murphy(212) 403 - 7296 kevin.murphy@stonex.com SNEX-G

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