StoneX Group Inc. (SNEX)
Financial Services · NMS · US
Fundamentals
Valuation and ratings
StoneX Group Inc. trades at USD110.88, which is 96% below the USD217.14 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 32 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 20.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About StoneX Group Inc.
StoneX Group Inc. operates as a global financial services network that connects companies, organizations, traders, and investors to a market ecosystem in the United States, Europe, South America, the Middle East, Asia, and internationally. The company operates through four segments: Commercial, Institutional, Self-Directed/Retail, and Payments. The Commercial segment provides risk management and hedging, voice brokerage, market intelligence, physical trading, and commodity financing, marketing, procurement, logistics, and price management services; and engages in the risk management and hedging services, execution and clearing of exchange-traded and OTC products. This segment also acts as an institutional dealer in fixed income securities to serve asset managers, commercial bank trust and investment departments, broker-dealers, and insurance companies; and engages in asset management business. The Self-Directed/Retail segment provides trading services and solutions in the global financial markets, including spot foreign exchange, precious metals trading, contracts for differences, and spread bets; and wealth management services, as well as offering physical gold and other precious metals in various forms and denominations through Stonexbullion.com. The company was formerly known as INTL FCStone Inc. and changed its name to StoneX Group Inc. in July 2020. StoneX Group Inc. was founded in 1924 and is headquartered in New York, New York.
SNEX passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
8 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- D. E. Shaw, D. E. Shaw & Co., Inc.$7.08M · 0.0% of book
- Tweedy Browne, Tweedy, Browne Co LLC$4.36M · 0.3% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$3.69M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$2.20M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$1.13M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is StoneX Group Inc. (SNEX) undervalued?
Against our discounted cash flow estimate of USD217.14, SNEX at USD110.88 is 96% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own SNEX?
8 of the institutions we track reported a position in SNEX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is SNEX's P/E ratio?
SNEX trades at 20.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for SNEX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.