StoneX Group Inc. (SNEX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+6776.8%

$3,893.67

vs $56.62 price

Levered DCF

$2,406.96

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.14

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	10.81×	6.63×	5.6×	5.39×	4.97×	2.59×	4.1×	7.37×
P/B	1.34×	0.98×	0.94×	1.01×	0.62×	0.56×	0.58×	0.79×
P/S	0.02×	0.02×	0.02×	0.02×	0.01×	0.01×	0.01×	0.01×
EV / EBITDA	10.11×	7.27×	5.34×	10.29×	23.31×	14.62×	16×	13.56×
Gross margin	2.0%	2.0%	2.6%	1.3%	1.3%	0.8%	1.3%	1.2%
Operating margin	1.6%	1.8%	2.7%	2.2%	2.7%	1.6%	2.0%	2.1%
Net margin	0.2%	0.3%	0.4%	0.3%	0.3%	0.3%	0.3%	0.2%
Current ratio	1.57×	1.67×	1.44×	1.33×	1.56×	1.52×	1.79×	1.32×
Debt / equity	7.79×	6.62×	4.7×	5×	8.18×	7.17×	7.75×	5.09×
Interest coverage	1.39×	1.49×	1.89×	8.19×	12.65×	8.35×	4.22×	7.21×
Dividend yield	0.0%	2.9%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	18.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.9%	15.3%	17.3%	19.4%	12.9%	22.1%	14.3%	11.0%
Return on invested capital	6.5%	8.2%	10.9%	12.4%	8.6%	10.2%	13.6%	8.6%
Return on assets	0.7%	0.9%	1.1%	1.0%	0.6%	1.3%	0.9%	0.7%
Free cash flow yield	135.5%	26.5%	-5.5%	-25.8%	367.7%	451.7%	53.7%	-121.6%
Earnings yield	9.6%	15.6%	18.5%	19.1%	20.8%	39.6%	24.9%	13.9%
Enterprise value	$20.1B	$11.7B	$6.7B	$5.3B	$6.8B	$5B	$4.5B	$2.6B
Net debt / EBITDA	8.51×	6.23×	4.3×	8.2×	21.41×	13.36×	14.77×	11.49×
Cash conversion cycle (days)	-16	-8	-13	-14	-63	-36	-35	-44