Stonex Group Inc. · NASDAQ:SNEX
Stonex — Q4 2025 Earnings Presentation
19 slides from Stonex's earnings presentation, Nov 25, 2025
Slide 1: Earnings Call: 4th Quarter 2025
Earnings Call: 4 th Quarter 2025 StoneX Group Inc. November 25 th, 2025
Slide 2: Disclaimer
Disclaimer The StoneX Group Inc. group of companies provides financial services worldwide, including physical commodities, securities, exchange -traded and over -the-counter derivatives, risk management, global payments and foreign exchange products, through its subsidiaries, in accordance with appl
Slide 3: Financial Overview
Financial Overview Bill Dunaway Chief Financial Officer
Slide 4: Fiscal Q4 2025 & Full Fiscal Year Highlights
Fiscal Q4 2025 & Full Fiscal Year Highlights Fourth Quarter (1) Highlights Operating Revenues Net Income • Versus the prior year quarter: • Net operating rev. (“NOR”) up $130.3mm or 29% • Total fixed comp. and other exp. up $57.3m or 24%; RJO/Benchmark add $1,202.3mm $85.7mm $32.4mm Up 31% Up 12% •
Slide 5: Fiscal Q4 2025 Product Results & Key Metrics
Fiscal Q4 2025 Product Results & Key Metrics Listed Derivatives Contracts (‘000s) & Rate per Contract $207.6mm 66,331 $2.79 Up 76% Up 15% Up 40% (4) by Product OTC Derivatives Contracts (‘000s) & Rate per Contract $58.6mm 985 $60.40 Up 27% Up 3% Up 23% Key Operating Metrics Physical Contracts Contra
Slide 6: Net Operating Revenue - Fiscal Q4 2025 & Full Fiscal Year 25
Net Operating Revenue - Fiscal Q4 2025 & Full Fiscal Year 2025 $12.5 $3.1 $28.8 $585.1 $13.5 $10.3 $43.1 $(29.7) $48.7 $454.8 Fiscal Q4 2025 ($millions) 29% Q4'24 Securities Listed derivatives Other Physical contracts Interest, net / fees OTC derivatives Payments FX/CFD contracts Q4'25 earned on cli
Slide 7: Segment Performance – Fiscal Q4 2025
Segment Performance – Fiscal Q4 2025 Commercial Institutional Self -Directed/Retail Payments 400.0 350.0 300.0 $292 67% $211 Net 250.0 25% $174 200.0 $168 Operating 150.0 $76 Revenue 100.0 50.0 (35)% $49 $46 7% $49 - Q4'24 Q4'25 Q4'24 Q4'25 Q4'24 Q4'25 Q4'24 Q4'25 Segment 53% 53% 44% 46% 39% 30% 54%
Slide 8: Segment Performance – FY 2025
Segment Performance – FY 2025 Commercial Institutional Self -Directed/Retail Payments $857 $769 $721 7% 36% $630 Net Operating $281 $282 1% Revenue $200 $202 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 Segment 54% 51% 42% 45% 41% 46% 56% 58% Margin $391 1% $396 $386 Segment 45% $266 Income $116 12% $130
Slide 9: Interest Rate Sensitivity
Interest Rate Sensitivity Interest/Fees Earned on Client Balances by Quarter Annualized Interest Rate Sensitivity $180 $112.2 $120 Potential + / - Incremental Change in Net Interest & 12b1 Fees $160 Earned (USDmm) (2) $100 $39.1 Annual Rate Change Post-tax Effect on Incremental Effect on $140 $86.4
Slide 10: Sean O’Connor
Sean O’Connor Executive Vice -Chairman
Slide 11: Delivering Growth Through M&A & Integration
Delivering Growth Through M&A & Integration StoneX’s financial strength, regulatory position, and publicly traded status make it a trusted acquirer and integrator Right Corporation (Securities Clearing & (Singapore Futures & TRX Futures Independent WM Options Brokerage & (Investment Banking (Wholesa
Slide 12: Building Momentum Through Scale
Building Momentum Through Scale StoneX maintains a proven track record of deal execution and a robust M&A pipeline 100 Opportunities Reviewed 69 Information Received 16 Bids Made 6 Transactions Executed Notes: Illustrative number of opportunities reviewed during 2025 12
Slide 13: Recent M&A Activities
Recent M&A Activities Increasing our market share by addition of new clients, while addressing more needs and expanding our capabilities Grow and Diversify Our Build Our Ecosystem Operational Efficiency Capital Efficiency Scale Advantage Client Base Increase efficiency and client Benefits from Stone
Slide 14: Building the StoneX Ecosystem
Building the StoneX Ecosystem Combining inorganic growth with innovative solutions for clients Precious Metals Vault (1) LatAm OTC Wealth Products Management M&A Enhancement of Products & Services Activities Right Corporation Prime Digital Brokerage Assets (2) Ag Hedging Platform (1) StoneX acquired
Slide 15: Integration Update
Integration Update Abbey Perkins M&A Integration
Slide 16: RJO Integration Update
RJO Integration Update Rationale ▪ Became the largest non -bank FCM in the US with $13.7 billion (1) in Transformational required client segregated/secured assets opportunity ▪ Adding 156 million TTM listed derivative clearing volume ▪ Introducing complementary OTC and physical products to RJO’s str
Slide 17: Key Integration Milestones
Key Integration Milestones Synergies On Track ▪ Combining overseas operations (UK, France, Hong Kong and Singapore) into StoneX entities to be completed by fiscal Q2 2026 – representing 25% Expense of expense synergies Synergies ▪ Merger of the two US FCM’s expected in late fiscal Q4 2026 – targetin
Slide 18: Closing Thoughts
Closing Thoughts • Record net income of $85.7mm, up 12%. Diluted EPS of $1.57, up 1%. Acquisition -related charges of $9.3mm pre-tax, or $0.13 EPS • ROE for the quarter of 15.2% and 15.6% for the full fiscal year • BV per share $45.56 – up $9.81, or 27% versus prior year • Results over the last two
Slide 19: Thank you
Thank you