StoneX Sees Overall Growth in FY23 with Operating Revenues of Over $2.9Bn

StoneX Group, a diversified global brokerage and financial services firm, today published its financial results for the fiscal year 2023 (FY23), seeing general growth across various indicators with operating revenues exceeding $2.9 billion, an increase of 38.3% on a year-on-year basis (YoY).

Financial Overview for FY23

• Operating revenues for the year reached $2,914.1 million, up 38.3% compared to $2,107.4 million in 2022. Revenues from transaction-based clearing expenses accounted for $271.8 million, down 6.7% YoY (FY22: $291.2 million). Revenues from introducing broker commission accounted for $161.6 million, up 0.9% YoY (FY22: $160.1 million). Revenues from interest expense accounted for $802.2 million, jump 492.0% YoY (FY22: $135.5 million). Revenues from interest expense on corporate funding accounted for $57.5 million, up 28.6% YoY (FY22: $44.7 million).

• Net operating revenues came in at $1621.0 million in the full year 2023, increasing 9.8% compared to $1,475.9 million in the prior year.

• Compensation and other expenses totaled $1,323.4 million for the period, 9.8% higher than $1,205.1 million in 2022. Compensation and benefits accounted the most in the section, reaching $868.6 million, up 9.3% YoY (FY22: $794.8 million). Non-trading technology and support expenses accounted for $61.6 million, up 17.6% YoY (FY22: $52.4 million). Professional fees accounted for $57.0 million, up 5.0% YoY (FY22: $54.3 million).

• Net income rose by 15.2% from $207.1 million in 2022 to $238.5 million, while the income before tax rose by 16.5% YoY from $277.2 million to $323.0 million.

• Basic earnings per share (EPS) was $11.55, an increase of 12.5% compared to $10.27 per share in 2022. Diluted EPS was $11.18, an increase of 11.7% compared to $10.01 per share in the prior year.

• Return on equity was down from 21.0% in 2022 to 19.5% in 2023.

• At the end of FY23, the total assets held by the Group stood at $21,938.7 million, rising 10.5% compared to $19,859.6 million in the end of FY22.