StoneX sets $50M synergy goal and declares RJO acquisition pivotal for 2026 projections
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2025
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Should l Buy SNEX?
Source: SeekingAlpha
Financial Performance: StoneX Group Inc. reported a record net income of $85.7 million for Q4 2025, with a 12% year-over-year growth in net income and a 31% increase in operating revenues, driven by recent acquisitions.
Acquisition Impact: The R.J. O'Brien acquisition is expected to be transformational, with management projecting $50 million in expense savings and significant capital synergies, alongside strong integration progress already yielding $20 million in annualized cost savings.
Outlook and Integration: Management anticipates that the R.J. O'Brien and Benchmark acquisitions will be accretive to earnings and drive results for 2026, with a detailed integration timeline set to achieve synergy targets by Q4 2026.
Analyst Sentiment: Analysts expressed a neutral to slightly positive tone, focusing on integration success and revenue capture, while management maintained confidence in synergy realization and operational enhancements despite some risks related to client attrition and market conditions.
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Analyst Views on SNEX
About SNEX
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders, and investors to the global market ecosystem through digital platforms, end-to-end clearing and execution services, high-touch service, and expertise. Its segments include Commercial, Institutional, Self-Directed/Retail, and Payments. The Commercial segment comprises the activities associated with the identification, management, hedging and monitoring of various commodity and financial risks faced by commercial entities in their business cycles. It provides institutional clients with a suite of equity trading services to help them find liquidity with execution, as well as prime brokerage in equities and various foreign currency pairs and swap transactions. It provides its retail clients around the world access to over 18,000 global financial markets. It provides customized payment, technology and treasury services to banks, charities, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Revenue Growth: The company reported revenue of $39.03 billion, marking a 39.7% year-over-year increase, reflecting successful strategies in diversified business and market demand, potentially attracting more investor interest.
- Record Net Income: The quarterly net income reached $139 million with a quarterly ROE of 22.5%, demonstrating excellent capital efficiency, which enhances the company's long-term investment appeal.
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- Hedge Against Market Volatility: StoneX is viewed as a hedge against market volatility, and as uncertainty increases, investors may favor its stable financial performance, potentially boosting its stock price.
- Transformational Acquisition Impact: The confirmation of the RJO acquisition is expected to have a transformational impact on StoneX's outlook for 2026, with a synergy target of $50 million that will further enhance its competitive position in the market.
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Crypto Bill Status: A proposed crypto bill aimed at establishing clear industry regulations is facing significant setbacks after Coinbase withdrew its support.
Committee Vote Delay: Senator Tim Scott has postponed a scheduled committee vote on the bill, indicating further complications in the legislative process.
Ongoing Efforts: Despite the current challenges, advocates for the bill are determined to continue fighting for its passage.
Industry Impact: The developments highlight the ongoing uncertainty and volatility within the cryptocurrency regulatory landscape.
See More
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- Market Demand Response: By integrating EDG's bespoke OTC derivatives solutions with StoneX's digital asset trading platform, both firms will provide institutional clients with more comprehensive risk management and investment strategies, addressing the growing market demand.
- Enhanced Innovation Capability: Since its launch in June 2022, StoneX Digital has focused on providing sophisticated trading tools for institutional clients, and this partnership will expedite its time to market, enhancing its competitive edge in the digital asset space.
- Industry Integration: EDG's founders noted that partnering with StoneX will strengthen their capabilities in the digital asset derivatives space, reflecting the industry trend of convergence between traditional finance and digital assets.
See More
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- Market Reaction: Wall Street showed little concern over the U.S. seizing a Russian oil tanker that was transporting Venezuelan oil, despite the presence of a Russian submarine.
- Stock Performance: Stocks continued to trade in a mixed manner, remaining near record highs.
- Oil Prices: The price of oil experienced a modest decline during this period.
- Geopolitical Context: The incident highlights ongoing tensions between the U.S. and Russia regarding oil and international trade.
See More
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- Stonex Outperformance: Stonex Group rose about 1.3% during Friday's trading, making it the best-performing component in the ETF, showcasing its relative strength in the market.
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