StoneX Group Inc.
SNEX · Other · $3.9B mkt cap · FY2025 filings · Shallow moat ·
Doesn't clear the bar
The five investor questions
2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $2.1B to $3.1B, increasing; diluted EPS 5.74 to 5.89, increasing. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%.
Median gross margin 144.8% over 10y, variable.
Median ROIC -4.9%, above the 12% hurdle in 0% of years.
Insufficient leverage/coverage inputs to score the balance sheet.
Owner earnings changed +21.2%/yr over up to the ten most recent annual observations.
The balanceSheet component abstained: Insufficient leverage/coverage inputs to score the balance sheet. The other four 20% weights were renormalized over the scored 80%.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- $243M
- $51.65
- $51.65
- $74.26
- 44% above value if growth stopped today
What today’s price assumes: owner earnings growing ~8%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).
How to read this
We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
Fundamentals
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Visual explainers
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Moat Score history
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for SNEX.
Other context
#28 of 45 scored Other companies, ranked by Moat Score.
Nearest peers by Moat Score
- #26SAMG Silvercrest Asset Management Group Inc.52.6 out of 100, Shallow moatShallow moat
- #27SIEB Siebert Financial Corp.50.5 out of 100, Shallow moatShallow moat
- #29HNNA HENNESSY ADVISORS, INC.50.0 out of 100, Shallow moatShallow moat
- #30ABX Abacus Global Management, Inc.49.9 out of 100, Shallow moatShallow moat
Compare SNEX with its nearest peers →All Other companies on the Index →
Common questions about SNEX
- Does StoneX Group Inc. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores StoneX Group Inc. (SNEX) 50.2 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 71, pricing power 70, returns on capital 0, balance-sheet safety not measurable from the filings, capital allocation 60.
- Is SNEX trading below the conservative owner-earnings estimate?
- The value if growth stopped today — a zero-growth baseline — is $51.65 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $74.26, that is 44% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
- How has SNEX's Moat Score changed over time?
- The record logs 16 readings since Jul 17, 2026; the latest reads 50.2 out of 100 (shallow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.