StoneX Group Inc. (NASDAQ:SNEX) shares are trading higher on Tuesday. Last week, the company reported strong third-quarter results with an adjusted EPS of $1, which topped the analyst consensus of 82 cents, while revenue came in at $1.468 billion versus the $661.8 million consensus.

Net operating revenues rose 47% to $719.7 million and net income more than doubled year over year to $127.9 million.

• Where are SNEX shares going?

CEO Philip Smith said StoneX continues to achieve double-digit growth across its Commercial, Institutional and Payments segments, highlighting the growing value of its ecosystem to clients. He added that the integration of R.J. O’Brien is beginning to deliver benefits, strengthening StoneX’s market position as the largest non-bank FCM.

Smith said the company remains focused on leveraging its broad ecosystem to drive growth while maintaining strong client service and execution.

Commercial segment net operating revenue surged 90%, driven by gains across physical contracts, OTC and listed derivatives and net interest income, while segment income jumped 119%.

Institutional net operating revenue grew 56% and segment income increased 49%, supported by a 33% rise in securities average daily volume and stronger equities market-making activity.

Within Commercial, listed derivatives revenue rose 62% to $68.6 million, OTC derivatives increased 73% to $101.9 million, and physical contracts climbed 162% to $87.4 million.

R.J. O’Brien generated $78.8 million in net operating revenue, excluding a $9.8 million unrealized negative mark-to-market adjustment. Benchmark delivered $29.5 million, its strongest quarterly performance since the acquisition.

Key Metric

StoneX’s average client equity and FDIC sweep balances reached $16.2 billion, up 108% year over year and 7% sequentially.

Book value per share increased 32% year over year to $23.70 and has risen 77% over the past two years.

StoneX added $750 million of fixed-rate SOFR swaps during the quarter, taking total swaps to $2.55 billion, with an average duration of about 1.5 years and an average rate of 3.51%. A 100-basis-point move in short-term rates is estimated to impact annualized net income by about $46.9 million, or $0.38 per share.

Global Prime Services has expanded from less than $1 billion in client balances in 2019 to more than $16 billion, generating nearly $140 million in trailing-12-month net operating revenue. The business has delivered more than 60% CAGR over seven years, while client assets have grown over 65% annually since 2023, with more than 700 global accounts.

The platform also holds nearly $1.5 billion in traditional assets for digital-asset clients, alongside its digital-asset custody business. Securities lending generates spread income on more than $2 billion of balances. StoneX continues to expand cross-selling, with some Prime clients using up to seven products, supporting engagement, retention and wallet share.

StoneX also completed a 3-for-2 stock split in July 2026, with split-adjusted trading beginning July 20.

What Is StoneX Group and How Does It Operates?

StoneX Group is a brokerage and financial services firm that connects clients to global markets through execution, OTC/market-making, advisory services, payment solutions, market intelligence, physical trading and clearing.

It operates across Commercial, Institutional, Self-Directed/Retail, and Payments segments, serving customers ranging from commercial banks and brokers to institutional investors and investment banks. With a large share of revenue tied to the Middle East and Asia region, quarterly results can be sensitive to activity levels and market conditions across multiple asset classes and geographies — so strong operating revenue and ROE prints tend to matter for sentiment.

Top ETFs Holding SNEX and Their Impact

• iShares S&P Small-Cap 600 Growth ETF (NASDAQ:IJT): 0.96% Weight
• Rockefeller US Small-Mid Cap ETF (NYSE:RSMC): 3.66% Weight
• Burney US Factor Rotation ETF (NASDAQ:BRNY): 4.39% Weight

Significance: Because SNEX carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely trigger automatic buying or selling of the stock.

SNEX Stock Price Activity

SNEX Stock Price Activity: StoneX Group shares were up 0.20% at $64.85 on Tuesday, according to Benzinga Pro data.

Photo via Shutterstock