Friday 6 November 2026 Export RJF’s income statement to Excel — free account

Raymond James Financial, Inc.

Raymond James Financial, Inc.’s revenue for fiscal 2026 (year ended September 2026) was $17.5 billion, up 10.2% from fiscal 2025.

Revenue: +13.1%
EPS: +14.4%
Free cash flow: −148.6%
Total debt: +38.5%

Quarter to September 2026, against a year earlier

165.22 0.40 +0.24%

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Market cap: $31.7B
P/E: 13.6×
Fwd P/E: 13.5×
Dividend yield: 1.31%
F-score: n/a
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Raymond James Financial, Inc. (RJF) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Private Client Group	10,282	64.62%
Bank	3,376	21.22%
Capital Markets	1,869	11.75%
Bank	1,776	11.16%
Asset Management	1,188	7.47%
Gross margin		100.00%
Operating margin		28.90%
Pre-tax margin		17.06%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2018
Asset management and related administrative fees	7,078 44.48%	6,196 41.52%	5,363 41.28%	5,563 49.20%	3,119 41.72%
Total investment banking	1,069 6.72%	858 5.75%	648 4.99%	1,100 9.73%	501 6.70%
Equities, exchange-traded funds (“ETFs”) and fixed income products	650 4.08%	557 3.73%	473 3.64%	520 4.60%	495 6.62%
Merger & acquisition and advisory	623 3.92%	521 3.49%	418 3.22%	709 6.27%	312 4.17%
Mutual fund and other investment products	530 3.33%	470 3.15%	414 3.19%	427 3.78%	325 4.35%
Insurance and annuity products	511 3.21%	519 3.48%	439 3.38%	438 3.87%	414 5.54%
RJBDP fees	486 3.05%	607 4.07%	498 3.83%	202 1.79%	265 3.54%
Debt underwriting	261 1.64%	168 1.13%	110 0.85%	143 1.26%	61 0.82%
Client account and other fees	246 1.55%	237 1.59%	213 1.64%	204 1.80%	123 1.65%
Other	205 1.29%	180 1.21%	187 1.44%	188 1.66%	—
Equity underwriting	185 1.16%	169 1.13%	120 0.92%	248 2.19%	128 1.71%
Affordable housing investments business revenues	140 0.88%	118 0.79%	109 0.84%	127 1.12%	79 1.06%
Other, not broken out	277 1.74%	783 5.25%	869 6.69%	—	—
Total account and service fees	—	—	—	—	713
Subtotal securities commissions	—	—	—	1,589	—
Brokerage Revenue, Securities Commissions, Mutual And Other Fund Products	—	—	—	—	717
Revenue	15,912	14,923	12,992	11,308	7,476

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Private Client Group	10,282 64.62%	9,578 64.18%	8,754 67.38%	7,752 68.55%	6,621 66.81%	5,575 68.25%	5,401 67.32%	5,121 68.50%	4,438 68.02%	3,627 65.69%	3,520 66.29%	3,290 66.25%	2,931 63.77%	2,485 63.74%	2,192 64.49%	1,903 63.87%	1,557 59.84%
Bank	3,376 21.22%	3,554 23.82%	3,154 24.28%	1,240 10.97%	714 7.20%	827 10.12%	1,001 12.48%	816 10.91%	628 9.62%	517 9.37%	426 8.02%	360 7.26%	356 7.75%	346 8.87%	282 8.29%	277 9.29%	343 13.19%
Capital Markets	1,869 11.75%	1,575 10.55%	1,299 10.00%	1,836 16.24%	1,895 19.12%	1,307 16.00%	1,117 13.92%	992 13.27%	1,035 15.86%	1,017 18.42%	977 18.39%	969 19.51%	945 20.57%	828 21.25%	707 20.81%	592 19.87%	533 20.49%
Bank	1,776 11.16%	1,716 11.50%	2,013 15.49%	1,084 9.59%	672 6.78%	765 9.37%	—	—	—	—	—	—	—	—	—	—	—
Asset Management	1,188 7.47%	1,027 6.88%	885 6.81%	914 8.08%	867 8.75%	715 8.75%	691 8.61%	654 8.75%	488 7.48%	404 7.32%	392 7.39%	370 7.45%	293 6.37%	237 6.09%	227 6.66%	197 6.61%	177 6.81%
Other	—	—	—	(50) (0.44%)	(8) (0.08%)	(82) (1.00%)	5 0.06%	(15) (0.20%)	(30) (0.46%)	46 0.84%	67 1.26%	42 0.85%	126 2.75%	58 1.50%	27 0.80%	—	—
Proprietary Capital	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	17 0.57%	13 0.49%
Emerging Markets	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	17 0.56%	15 0.57%
Securities Lending	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	9 0.30%	10 0.39%
Unallocated Amount to Segment [Member] (Deprecated 2013-01-31)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	8 0.27%	7 0.27%
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(40) (1.33%)	(54) (2.07%)
Eliminations	(2,579) (16.21%)	(2,527) (16.93%)	(3,113) (23.96%)	(1,468) (12.98%)	(851) (8.59%)	(939) (11.50%)	(192) (2.39%)	(92) (1.23%)	(34) (0.52%)	(91) (1.64%)	(72) (1.35%)	(65) (1.31%)	(56) (1.21%)	(57) (1.45%)	(36) (1.05%)	—	—
Revenue	15,912	14,923	12,992	11,308	9,910	8,168	8,023	7,476	6,525	5,521	5,310	4,965	4,596	3,898	3,400	2,980	2,603

Revenue by region $m

Line	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
U.S.	10,065 89.01%	9,067 91.49%	7,446 91.16%	7,211 89.88%	6,754 90.34%	5,931 90.90%	5,120 92.73%	4,913 92.53%	4,513 90.88%	4,178 90.90%	3,501 89.82%	2,948 86.70%	2,653 89.05%	2,360 90.66%
Canada	542 4.79%	485 4.89%	386 4.73%	391 4.87%	381 5.10%	328 5.03%	279 5.05%	279 5.26%	323 6.51%	311 6.76%	297 7.63%	339 9.97%	256 8.60%	187 7.18%
Europe	396 3.50%	208 2.10%	158 1.93%	138 1.72%	139 1.86%	108 1.66%	86 1.55%	85 1.61%	96 1.93%	84 1.82%	78 2.01%	64 1.87%	54 1.81%	41 1.59%
Other Geographic Areas	—	—	—	—	—	4 0.06%	37 0.67%	32 0.61%	34 0.68%	24 0.52%	21 0.55%	50 1.46%	16 0.54%	15 0.56%
Other, not broken out	305 2.70%	150 1.51%	178 2.18%	283 3.53%	202 2.70%	154 2.36%	—	—	—	—	—	—	—	—
Revenue	11,308	9,910	8,168	8,023	7,476	6,525	5,521	5,310	4,965	4,596	3,898	3,400	2,980	2,603

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Client Interest Program	Q4 FY2026	$1.8B	—	—
Enhanced Savings Program	Q4 FY2026	$15.0B	—	—
RJBDP third-party bank balances	Q4 FY2026	$16.4B	—	—
Securities-based loans	Q4 FY2026	$26.2B	—	—
Subtotal RJBDP	Q4 FY2026	$41.1B	—	—
Total clients’ domestic cash sweep balances	Q4 FY2026	$42.9B	—	—

	Q4 FY2026	Q3 FY2026	Q1 FY2026	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Client Interest Program	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Enhanced Savings Program	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
RJBDP third-party bank balances	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Securities-based loans	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Subtotal RJBDP	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total clients’ domestic cash sweep balances	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.