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LPL Financial vs StoneX: revenue, profit, margins and growth compared

LPL Financial brought in $17B of revenue in fiscal 2025, StoneX $132.4B in fiscal 2025. Revenue changed by +37.2% at LPL Financial and +32.5% at StoneX on the year before, so LPL Financial grew faster. LPL Financial kept 5.1% of its revenue as net profit, StoneX 0.2%. Free cash flow was -$981.8M at LPL Financial and $4.3B at StoneX.

Side by side, latest fiscal year

LPLASNEX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$17B$132.4B
Revenue growth+37.2%+32.5%
Net income$863M$305.9M
Net margin5.1%0.2%
Free cash flow-$981.8M$4.3B
Free cash flow margin-5.8%3.3%
Earnings per share (diluted)$10.92$5.89
Cash$1B$1.6B
Debt$7.3Bn/a
Price to earnings28.811.3
Market value$24.8B$8.1B
Dividend yield0.38%n/a
Rank by revenue in sector#39 of 444 · Finance#4 of 444 · Finance

Over the years

Revenue
LPLA FY2018: $5.2BLPLA FY2019: $5.6BLPLA FY2020: $5.9BLPLA FY2021: $7.7BLPLA FY2022: $8.6BLPLA FY2023: $10.1BLPLA FY2024: $12.4BLPLA FY2025: $17BSNEX FY2018: $27.6BSNEX FY2019: $32.9BSNEX FY2020: $54.1BSNEX FY2021: $42.5BSNEX FY2022: $66BSNEX FY2023: $60.9BSNEX FY2024: $99.9BSNEX FY2025: $132.4BFY18FY19FY20FY21FY22FY23FY24FY25
LPLA $17BSNEX $132.4B
Net income
LPLA FY2018: $439.5MLPLA FY2019: $559.9MLPLA FY2020: $472.6MLPLA FY2021: $459.9MLPLA FY2022: $845.7MLPLA FY2023: $1.1BLPLA FY2024: $1.1BLPLA FY2025: $863MSNEX FY2018: $55.5MSNEX FY2019: $85.1MSNEX FY2020: $169.6MSNEX FY2021: $116.3MSNEX FY2022: $207.1MSNEX FY2023: $238.5MSNEX FY2024: $260.8MSNEX FY2025: $305.9MFY18FY19FY20FY21FY22FY23FY24FY25
LPLA $863MSNEX $305.9M
Net margin
LPLA FY2018: 8.5%LPLA FY2019: 10.0%LPLA FY2020: 8.0%LPLA FY2021: 6.0%LPLA FY2022: 9.8%LPLA FY2023: 10.6%LPLA FY2024: 8.5%LPLA FY2025: 5.1%SNEX FY2018: 0.2%SNEX FY2019: 0.3%SNEX FY2020: 0.3%SNEX FY2021: 0.3%SNEX FY2022: 0.3%SNEX FY2023: 0.4%SNEX FY2024: 0.3%SNEX FY2025: 0.2%FY18FY19FY20FY21FY22FY23FY24FY25
LPLA 5.1%SNEX 0.2%
Revenue growth
LPLA FY2019: +8.4%LPLA FY2020: +4.4%LPLA FY2021: +31.5%LPLA FY2022: +11.4%LPLA FY2023: +16.9%LPLA FY2024: +23.2%LPLA FY2025: +37.2%SNEX FY2019: +19.1%SNEX FY2020: +64.6%SNEX FY2021: -21.4%SNEX FY2022: +55.3%SNEX FY2023: -7.8%SNEX FY2024: +64.1%SNEX FY2025: +32.5%FY19FY20FY21FY22FY23FY24FY25
LPLA +37.2%SNEX +32.5%
Free cash flow
LPLA FY2018: $448.9MLPLA FY2019: $467.5MLPLA FY2020: $634.4MLPLA FY2021: $237.1MLPLA FY2022: $1.6BLPLA FY2023: $109.3MLPLA FY2024: -$284.9MLPLA FY2025: -$981.8MSNEX FY2018: -$486.1MSNEX FY2019: $183.7MSNEX FY2020: $1.9BSNEX FY2021: $2.1BSNEX FY2022: -$279MSNEX FY2023: -$70.6MSNEX FY2024: $441.7MSNEX FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
LPLA -$981.8MSNEX $4.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about LPL Financial and StoneX

Which is bigger by revenue, LPL Financial or StoneX?

StoneX is bigger by revenue: $132.4B in fiscal 2025, against $17B for LPL Financial in fiscal 2025.

Which keeps more of its revenue as profit, LPL Financial or StoneX?

LPL Financial had a net margin of 5.1% in fiscal 2025; StoneX had 0.2% in fiscal 2025.

Which grew revenue faster, LPL Financial or StoneX?

In their latest fiscal years revenue changed by +37.2% at LPL Financial and +32.5% at StoneX.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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