StoneX Group Inc. (NASDAQ:SNEX), the owner of Forex brands such as City Index and FOREX.com, has reported its financial results for the fiscal fourth quarter and year ended September 30, 2025.

Operating revenues derived from FX/CFD contracts declined $29.1 million, as a result of a $24.7 million and $4.4 million declines in StoneX’s Self-Directed/Retail and Institutional segments, respectively, which was principally driven by a 32% decrease in RPM and a 7% decline in ADV, principally due to diminished FX volatility.

Operating revenues derived from listed derivatives increased $89.4 million, mainly supported by the acquisition of RJO which contributed $89.5 million. StoneX’s Commercial and Institutional segments added $40.5 million and $48.9 million, respectively.

Operating revenues derived from OTC derivatives increased $12.4 million, principally resulting from a 23% increase in OTC average rate per contract as well as a 3% increase in OTC derivative volumes.

Operating revenues derived from securities transactions increased $107.6 million, mostly due to a 25% increase in ADV as well as a 23% increase in the securities RPM. Net operating revenues derived from securities transactions increased $48.7 million, principally due to the increase in ADV and RPM.

Operating revenues from payments increased $3.6 million, reflecting a 13% increase in payments ADV, which was partially offset by a 4% decline in payments RPM.

Operating revenues derived from physical contracts increased $12.6 million, primarily as a result of a $19.5 million increase in physical agricultural and energy operating revenues, which was partially offset by a $6.8 million decline in precious metals operating revenues. Precious metals related operating revenues were unfavorably impacted by unrealized losses on derivative positions of $5.0 million and $4.5 million in the three months ended September 30, 2025 and 2024, respectively, related to physical inventories held at the lower of cost or net realizable value.

Across all segments, operating revenues increased $282.2 million, or 31%, to $1,202.3 million in the three months ended September 30, 2025 compared to $920.1 million in the three months ended September 30, 2024. The acquisition of RJO contributed $141.0 million in operating revenues.

Interest and fee income earned on client balances, which is associated with StoneX’s listed and OTC derivative businesses, as well as its Correspondent Clearing and Independent Wealth Management businesses, increased $52.0 million, principally driven by the acquisition of RJO which contributed $50.0 million. Average client equity and average money-market/FDIC sweep client balances increased 71% and 25%, respectively.

For the fiscal year ended September 30, 2025, the average client equity includes the effect of an incremental $5.6 billion per month from RJO for the two months post-acquisition.

Sean O’Connor, the Company’s Executive Vice-Chairman of the Board, stated:

“We are pleased to announce our results to close out fiscal year 2025, one which marked another record annual performance in both revenues and net income and one in which we continue to grow both our product capabilities and client base. 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. Overall, this resulted in a 12% increase in quarterly net income versus the prior year despite $9.3 million in acquisition-related charges in the current quarter, including $8.0 million in investment banking fees and $1.3 million in bridge loan financing charges, which combined equated to a reduction of approximately $0.13 in diluted EPS for the quarter.

We are confident that integrating these acquisitions will allow us to deliver a more comprehensive suite of products to both new and existing clients. Our ongoing strategy centers on driving shareholder value by expanding our product offerings, growing our client base, and increasing our geographic reach, all while maintaining our unwavering commitment to delivering exceptional client service.”