StoneX Group (SNEX) Could Be 57% Undervalued After Strong Q3 Results

StoneX Group (SNEX) is back in focus after reporting third quarter and year to date results on August 5 that show higher revenue, net income, and earnings per share compared with the prior year.

See our latest analysis for StoneX Group.

StoneX Group’s share price has pulled back recently, with a 7 day share price return of down 12.31% and a 30 day share price return of down 15.94%. However, the year to date share price return of 52.43% and 1 year total shareholder return of 60.54% still point to strong underlying momentum supported by its latest earnings and recent payments partnership news.

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Bulls point to StoneX Group’s strong earnings and payments partnerships, while bears see the sharp pullback as a warning sign. Recent numbers give you plenty to weigh. Does the current valuation still look reasonable?

Most Popular Narrative: 57.4% Undervalued

The most followed narrative on StoneX Group currently points to a fair value of $155 a share, compared with the latest close of $65.97. That gap has caught attention because it suggests the recent pullback sits against a much higher implied value in the narrative work.

The reason SNEX is interesting now is that the company is becoming a larger, more strategically relevant financial intermediary at exactly the time when volatility, hedging demand, derivatives usage, commodity complexity, and cross-border flows remain elevated.

The R.J. O’Brien acquisition, completed in July 2025, made StoneX the largest non-bank futures commission merchant in the United States and strengthened its listed derivatives, clearing, and commodity brokerage franchise.

Read the complete narrative.

Want to understand why this narrative sees so much value in StoneX Group at $155? It focuses on earnings power, returns on equity, and how the R.J. O’Brien deal may affect margins and scale. The full valuation story outlines the assumptions that connect today’s price to that target.

Result: Fair Value of $155 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, this StoneX Group narrative could be challenged if earnings ease from current levels, or if the R.J. O’Brien integration creates higher costs or client churn.

Find out about the key risks to this StoneX Group narrative.

Another View: StoneX Group Through A Cash Flow Lens

While the user narrative points to StoneX Group being undervalued at a fair value of $155 a share, the SWS DCF model paints a different picture. On that view, SNEX is trading above an estimated future cash flow value of $22.08, which suggests the stock could be overvalued. Which lens do you put more weight on?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out StoneX Group for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 49 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

With mixed views emerging on StoneX Group, this is an ideal time to look through the latest data yourself and decide how you see the balance of risks and rewards. To weigh both sides before you act, start by reviewing the 3 key rewards and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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