A Business at a Glance
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Raymond James Financial, Inc. (“RJF” or the “firm”) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations, and municipalities. The firm, together with its subsidiaries, is engaged in various financial services activities, including providing investment management services to retail and institutional clients, merger & acquisition and advisory services, the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products. The firm also provides corporate and retail banking services and trust services. The firm operates predominantly in the United States (“U.S.”) and, to a lesser extent, in Canada, the United Kingdom (“UK”), and other parts of Europe. As used herein, the terms “our,” “we,” or “us” refer to RJF and/or one or more of its subsidiaries.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Asset management and related administrative fees | $4.87B | $5.56B | $5.36B | $6.20B | $7.08B | 37% |
Operating segments | $4.06B | $4.71B | $4.54B | $5.25B | $5.98B | 31% |
Securities commissions | $1.65B | $1.59B | $1.46B | $1.65B | $1.77B | 9% |
Equities, ETFs and fixed income products | $530M | $520M | $473M | $557M | $650M | 3% |
Merger & acquisition and advisory | $639M | $709M | $418M | $521M | $623M | 3% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 16.1B | 15.9B | 14.9B | 13.0B | 11.3B | 9.9B |
| Net Income | 2.1B | 2.1B | 2.1B | 1.7B | 1.5B | 1.4B |
| EPS | $10.23 | $10.30 | $9.70 | $7.97 | $6.98 | $6.63 |
| Free Cash Flow | 1.4B | 2.2B | 1.9B | -3.7B | -19M | 6.6B |
| ROIC | 0.0% | 14.3% | 15.0% | 14.1% | 13.1% | 13.6% |
| Gross Margin | - | 43.0% | 45.0% | 43.8% | 35.2% | 33.6% |
| Debt/Equity | 0.28 | 0.28 | 0.17 | 0.20 | 0.22 | 0.25 |
| Dividends/Share | $2.15 | $2.00 | $1.80 | $1.68 | $1.36 | $1.04 |
| Operating Income | 0 | 106M | 109M | 2.3B | 2.0B | 1.8B |
| Operating Margin | 0.0% | 0.7% | 0.7% | 17.5% | 17.9% | 18.1% |
| ROE | 16.7% | 17.6% | 17.7% | 17.0% | 15.9% | 17.0% |
| Shares Outstanding | 197M | 207M | 213M | 217M | 216M | 212M |
RAYMOND JAMES FINANCIAL INC passes 6 of 9 quality checks, suggesting mixed fundamentals.
RAYMOND JAMES FINANCIAL INC trades at 14.7x trailing earnings, compared to its 15-year median P/E of 13.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 21.2x vs a median of 13.1x. The company's 5-year average ROIC is 14.1% with a gross margin of 40.1%. Total shareholder yield (dividends + buybacks) is 6.8%. At current prices, the estimated annualized return to fair value is +3.6%.
RAYMOND JAMES FINANCIAL INC (RJF) has a current P/E ratio of 14.7, compared to its historical median P/E of 13.5. The stock is currently considered Fair based on its historical valuation range.
RAYMOND JAMES FINANCIAL INC (RJF) has a 5-year average return on invested capital (ROIC) of 14.1%. This indicates solid capital allocation.
RAYMOND JAMES FINANCIAL INC (RJF) has a market capitalization of $29.6B. It is classified as a large-cap stock.
Yes, RAYMOND JAMES FINANCIAL INC (RJF) pays a dividend with a trailing twelve-month yield of 1.43%. The company also returns capital through share buybacks, with a buyback yield of 5.38%.
Based on historical P/E analysis, RAYMOND JAMES FINANCIAL INC (RJF) appears fair. The current P/E of 14.7 is 9% above its historical median of 13.5. The estimated fair value CAGR (P/E method) is 16.6%.
RAYMOND JAMES FINANCIAL INC (RJF) operates in the Security Brokers, Dealers & Flotation Companies industry, within the Financials sector.
RAYMOND JAMES FINANCIAL INC (RJF) reported annual revenue of $15.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
RAYMOND JAMES FINANCIAL INC (RJF) has a net profit margin of 13.4%. This is a healthy margin.
RAYMOND JAMES FINANCIAL INC (RJF) generated $2.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
RAYMOND JAMES FINANCIAL INC (RJF) has a debt-to-equity ratio of 0.28. This indicates a conservatively financed balance sheet.
RAYMOND JAMES FINANCIAL INC (RJF) reported earnings per share (EPS) of $10.30 in its most recent fiscal year.
RAYMOND JAMES FINANCIAL INC (RJF) has a return on equity (ROE) of 17.6%. This indicates the company generates strong returns for shareholders.
RAYMOND JAMES FINANCIAL INC (RJF) has a 5-year average gross margin of 40.1%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for RAYMOND JAMES FINANCIAL INC (RJF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RAYMOND JAMES FINANCIAL INC (RJF) has a book value per share of $60.46, based on its most recent annual SEC filing.