StoneX Q4 Revenues Rise 31% on Acquisitions Despite FX/CFD Decline

StoneX Group Inc. (NASDAQ: SNEX) has reported its financial results for the fiscal fourth quarter and year ended September 30, 2025. While the company achieved overall revenue growth driven by recent acquisitions and strong securities trading, its FX and CFD segment faced headwinds due to market conditions.

The brokerage reported that operating revenues derived from FX/CFD contracts declined by $29.1 million during the quarter. This downturn was observed in both the Self-Directed/Retail segment, which fell by $24.7 million, and the Institutional segment, which saw a $4.4 million decrease. StoneX attributed this performance principally to "diminished FX volatility," which led to a 32% decrease in Rate Per Million (RPM) and a 7% decline in Average Daily Volume (ADV).

Despite the slump in FX/CFD figures, total operating revenues across all segments increased by $282.2 million, or 31%, to $1.2 billion for the quarter compared to the same period the previous year. A significant portion of this growth was attributed to the acquisition of R.J. O’Brien (RJO). Operating revenues from listed derivatives surged by $89.4 million, with the RJO acquisition alone contributing $89.5 million. Additionally, revenues from securities transactions rose by $107.6 million, driven by a 25% increase in ADV.

Interest and fee income earned on client balances increased by $52.0 million, primarily due to the RJO acquisition.

Sean O’Connor, the Company’s Executive Vice-Chairman of the Board, noted that the fiscal year marked another record annual performance. “We achieved a record quarterly result, driven by strong contributions in equities trading, prime brokerage, and fixed income, as well as the closing of the acquisitions of R.J. O’Brien and The Benchmark Company, LLC,” O’Connor stated.

He further explained that quarterly net income rose 12% year-over-year, despite the company incurring $9.3 million in acquisition-related charges during the period.