undamentalytics Newsletter

Investment Banking & Brokerage stocks

46 US-listed companies in investment banking & brokerage, with $457.3bn of combined revenue in their latest fiscal years. Stonex Group Inc. is the largest ($132.4bn). The fastest grower with at least $100m of revenue in both years is Futu Holdings Ltd, up 68.3%. The median company grew 20.8% with a net margin of 10.6%.

Companies46
Combined revenue$457.3bn
Median revenue growth20.8%
Median net margin10.6%
Median return on equity18.1%
#CompanyRevenueGrowthNet marginROEFiscal year
1 Stonex Group Inc.SNEX $132.4bn 32.5% 0.2% 15.0% 2025
2 Morgan StanleyMS $70.6bn 14.4% 23.9% 15.6% 2025
3 Galaxy Digital Inc.GLXY $60.4bn 41.8% −0.4% −11.6% 2025
4 Goldman SachsGS $58.3bn 8.9% 29.5% 13.9% 2025
5 Charles Schwab CorporationSCHW $23.9bn 22.0% 37.0% 18.1% 2025
6 LPL Financial Holdings Inc.LPLA $17.0bn 37.2% 5.1% 20.9% 2025
7 Raymond James FinancialRJF $15.9bn 6.6% 13.4% 17.7% 2025
8 Etoro Group Ltd.ETOR $13.8bn 9.5% 1.6% 1.4% 2025
9 Jefferies Financial Group Inc.JEF $10.8bn 2.9% 5.8% 6.1% 2025
10 Stifel Financial CorpSF $6.3bn 6.7% 10.8% 11.7% 2025
11 Interactive BrokersIBKR $6.2bn 19.7% 15.9% 20.4% 2025
12 Robinhood MarketsHOOD $4.5bn 51.6% 42.1% 22.0% 2025
13 Evercore Inc.EVR $3.9bn 29.5% 15.3% 31.7% 2025
14 Virtu Financial, Inc.VIRT $3.6bn 26.2% 12.9% 58.4% 2025
15 Coincheck Group N.V.CNCK $3.2bn 26.8% −0.4% −11.7% 2026
16 Lazard, Inc.LAZ $3.2bn 1.5% 7.4% 31.5% 2025
17 BGC Group, Inc.BGC $2.9bn 30.0% 5.3% 16.6% 2025
18 Futu Holdings LtdFUTU $2.9bn 68.3% 49.6% 33.3% 2025
19 Houlihan Lokey, Inc.HLI $2.6bn 9.5% 16.3% 18.8% 2026
20 Freedom Holding Corp.FRHC $2.2bn 9.3% 7.0% 11.3% 2026
21 Marex Group LtdMRX $2.0bn 26.9% 14.5% 28.7% 2025
22 Piper Sandler CompaniesPIPR $1.9bn 24.3% 14.8% 21.7% 2025
23 PJT Partners Inc.PJT $1.7bn 14.8% 10.5% 72.7% 2025
24 Oppenheimer Holdings IncOPY $1.6bn 14.4% 9.1% 16.2% 2025
25 XP Inc.XP $1.4bn 3.1% 64.9% 24.6% 2025
26 BRC Group Holdings, Inc.RILY $968m 29.6% 31.8% — 2025
27 Perella Weinberg PartnersPWP $751m −14.5% 4.7% — 2025
28 UP Fintech Holding LtdTIGR $612m 56.3% 27.9% 22.5% 2025
29 Webull CorpBULL $571m 46.3% 4.3% — 2025
30 Cohen & Co Inc.COHN $276m 246.2% 5.2% 31.1% 2025
31 SOS LtdSOS $154m −33.3% −63.1% −22.7% 2025
32 Dominari Holdings Inc.DOMH $123m 487.0% −18.2% −41.1% 2025
33 Defi Technologies, Inc.DEFT $99m 215.5% 62.9% 74.0% 2025
34 Siebert Financial CorpSIEB $94m 12.3% 5.4% 5.9% 2025
35 Metalpha Technology Holding LtdMATH $37m −16.7% 3.5% 2.9% 2026
36 Solowin Holdings, Ltd.AXG $28m 895.0% −47.4% −88.9% 2026
37 Argo Blockchain plcARBK $16m −67.0% 32.8% — 2025
38 The9 LTDNCTY $15m −3.3% −373.0% −152.0% 2025
39 Waton Financial LtdWTF $11m 48.8% −136.7% −87.9% 2026
40 Lion Group Holding LtdLGHL $9m 657.5% −52.8% −27.4% 2025
41 Garden Stage LtdGSIW $7m 33.2% −190.1% −89.5% 2026
42 Powell Max LtdPMAX $6m 30.8% −49.3% −101.5% 2025
43 TOP Financial Group LtdTOP $5m 41.9% −24.8% −3.4% 2026
44 Magic Empire Global LtdMEGL $1m −9.7% −72.1% −6.6% 2025
45 Plutus Financial Group LtdPLUT $1m 7.2% −377.0% −55.2% 2025
46 Mmtec, Inc.MTC $807,500 −56.8% −6944.3% — 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

Other financials industries

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.