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StoneX Group Inc. SNEX Commercial — Non-Variable Expenses

Other segment segments

Institutional
$77.9M+85.5%
Self-Directed/Retail
$37.9M+2.7%
Payments
$11.7M-18.2%

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$188M+4.4%
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FCNCACommercial Banking — Noninterest expense
$228M+8.6%

Other financials

Income statement

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Revenue$829.1M+70.1%
Gross profit-$43.4B-22.3%
Operating income-$10.9M+59.5%
Net income$174.3M+143%
EPS (diluted)$2.07+120%

Balance sheet

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Cash & equivalents$12.8B+114%
Total debt$1.9B+79.0%
Total equity$2.7B+43.4%
Total assets$53.6B+71.4%

Cash flow

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Operating cash flow$2.8B+1,911%
CapEx$21.3M+39.2%
Free cash flow$2.8B+1,736%

Valuation

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Market cap$11.02B+72.7%
Enterprise value$171.75M-272%
P/E23.8×+2.2×
P/S4.2×+0.8×

Profitability

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Gross margin-5,500.2%-539pp
Operating margin-2.6%-0.7pp
Net margin17.6%+2.1pp
FCF margin246.8%

Returns & leverage

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Return on equity20.2%+2.9pp
Debt / equity0.7×+0.1×

Where this comes from

Reported directly by StoneX Group Inc. in its filing.

Tagged under the XBRL concept intl:NonVariableExpenses.

The official record: StoneX Group Inc.’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is StoneX Group Inc.'s commercial — non-variable expenses?
StoneX Group Inc. (SNEX) reported commercial — non-variable expenses of $70.8M in Q1 2026.
How has StoneX Group Inc.'s commercial — non-variable expenses changed year-over-year?
StoneX Group Inc.'s commercial — non-variable expenses increased by 62.0% year-over-year, from $43.7M to $70.8M.
What does commercial — non-variable expenses mean?
The total fixed costs required to operate the commercial segment regardless of business volume.
How do you interpret commercial — non-variable expenses?
An increase indicates a higher break-even point for the segment, while a decrease suggests a leaner cost structure and improved operating leverage.
How does commercial — non-variable expenses compare across companies?
Similar to 'Fixed Operating Expenses' or 'Non-Variable Operating Costs' used by brokerage and financial services firms to measure structural efficiency.