StoneX 2025 Q3 Earnings Slight EPS Decline, Record Net Income High

StoneX (SNEX) reported its fiscal 2025 Q3 earnings on August 7, 2025. The company delivered a 28.7% year-over-year revenue increase to $34.83 billion, with net income rising 2.4% to $63.40 million. While EPS slightly declined by 0.8% to $1.29, the earnings beat expectations, and the company set a new 20-year Q3 net income record.

StoneX’s fiscal 2025 Q3 revenue surged by 28.7% year-over-year to $34.83 billion, driven primarily by its Commercial segment, which generated $34.03 billion. The Institutional segment contributed $626 million, while Self-Directed/Retail brought in $115.70 million. Additional revenue was driven by Payments with $53.30 million and the Corporate division with $15.70 million. Eliminations offset by $10.70 million, reflecting adjustments across consolidated operations. Collectively, these segments highlight StoneX’s broad reach across multiple financial services and underscore the Commercial segment’s dominant role in overall performance.

The company’s net income for Q3 2025 increased 2.4% to $63.40 million from $61.90 million in the prior year, setting a new 20-year high for the quarter. However, earnings per share (EPS) declined slightly by 0.8% to $1.29, primarily due to acquisition-related charges, including $6.5 million in bridge loan financing costs, which reduced diluted EPS by approximately $0.12. Despite the minor EPS contraction, the solid net income growth reflects strong performance in the Institutional and Self-Directed/Retail segments, partially offsetting challenges in the Commercial business.

The stock price of StoneX experienced mixed performance in the period following its earnings report. During the latest trading day, the stock climbed 5.02%, but it declined 10.36% over the most recent full trading week and 9.16% month-to-date. These movements indicate short-term volatility, although long-term investor sentiment appears resilient given the company’s strong earnings.

The strategy of buying StoneX shares following a revenue increase in a quarterly earnings report and holding for 30 days has historically delivered strong returns. Over the past three years, this approach achieved an 118.08% return, significantly outperforming the 51.69% benchmark return. The strategy generated an excess return of 66.39%, with a compound annual growth rate (CAGR) of 30.18% and no maximum drawdown, highlighting its robust risk-adjusted performance and potential for capitalizing on positive earnings momentum.

Sean O’Connor, Executive Vice-Chairman of the Board, emphasized the importance of StoneX’s diversified business model in driving modest net income growth in Q3 2025. He noted that strong results from the Institutional and Self-Directed/Retail segments partially offset challenges in the Commercial segment, which faced reduced commodity volatility and tariff uncertainty. O’Connor also highlighted the impact of acquisition-related charges, including $6.5 million in bridge loan financing costs, which reduced diluted EPS by approximately $0.12. He expressed optimism about the recent acquisitions of R.J. O’Brien and The Benchmark Company, LLC, which he believes strengthen StoneX’s leadership in global derivatives and expand its capital markets capabilities, client base, and product offerings.

StoneX did not provide specific forward-looking quantitative guidance for revenue, EPS, or CAPEX in the Q3 2025 earnings report. Instead, the commentary remained qualitative, focusing on strategic confidence in the newly acquired businesses and the potential to drive future performance through enhanced market positioning, product diversification, and client reach. The company remains committed to leveraging its expanded offerings to deliver long-term value to shareholders, without setting explicit numerical targets for the near term.

StoneX recently completed the acquisition of The Benchmark Company, LLC, a leading provider of investment banking, equity research, and institutional sales and trading services, on August 5, 2025. The deal, first announced on March 11, 2025, significantly enhances StoneX’s capital markets capabilities and deepens its presence in investment banking and equity research. Benchmark brings a seasoned team with expertise in high-growth sectors such as Technology, Industrials, Consumer, and Healthcare, along with strong client relationships. The company will join StoneX’s Institutional division, with the Benchmark brand retained in the short term to ensure smooth client and counterparty continuity. Jacob Rappaport, Global Head of Equities at StoneX, noted that the acquisition is a strategic move to broaden capital markets offerings and deliver differentiated value globally. Richard Messina, CEO of Benchmark, highlighted the cultural alignment and growth opportunities afforded by the partnership with StoneX. Anthony Di Ciollo, President of StoneX Financial Inc., emphasized the mutual benefits, including expanded resources for Benchmark clients and enhanced insights for existing StoneX clients.