StoneX reported record fiscal Q1 2026 net operating revenue of $724.4 million (up 47%) and net income of $139.0 million (up 63%), with total revenues increasing from $27,935.3 million in 2024 to $39,029.9 million in 2025. The company offers execution, risk management, advisory and post-trade solutions across commodities, currencies, securities and digital assets, serving commercial businesses, institutional clients and financial intermediaries, positioning itself as a diversified financial services powerhouse with exposure to multiple asset classes and global markets.
Cyborg Score Rationale
StoneX demonstrates exceptional financial performance with 47% revenue growth and 63% net income growth in Q1 FY2026, strong analyst upgrades (Zacks raised to Strong Buy, Jefferies raised target to $122), and Fortune-500 status. However, thin net margins of 0.2% and current valuation above DCF fair values present execution and sustainability risks.
Top Insights
Record Q1 FY2026 revenues ($724.4M, +47%) and net income ($139.0M, +63%) demonstrate substantial momentum from market activity and recent acquisitions
Global diversification with 80+ offices across six continents and revenue heavily weighted to Middle East and Asia provide strong exposure to growth markets
Recent analyst upgrades (Zacks to Strong Buy, Jefferies target raised to $122) and announced 3-for-2 stock split signal institutional confidence
Thin profit margins (0.2%) and P/E discount vs peers despite 30.7% earnings growth suggest market concerns about margin sustainability and forecast growth (10.2% annually)
Named Competitors
Interactive Brokers — Electronic trading platform for institutional and retail clients
Refinitiv — Financial data, analytics and trading solutions
Saxo Bank — Online trading and investment platform
CME Group — Futures, options and derivatives exchange operator
Recent Developments
(February 2026) Zacks Research upgraded StoneX to Strong Buy rating; announced 3-for-2 stock split effective March 23, 2026
(February 2026) Jefferies Financial Group raised price target from $99 to $122; company reported record Q1 FY2026 results with $724.4M revenue, $139.0M net income
(January 2026) StoneX Digital partnership with Enhanced Digital Group announced for fintech solutions
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