Saturday 17 October 2026 Export RJF’s income statement to Excel — free account

Raymond James Financial, Inc.

Raymond James Financial, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $15.9 billion, up 6.63% from fiscal 2024. In the quarter to June 2026, revenue grew 13.5%, EPS grew 41.7%, free cash flow fell 148.6% and total debt rose 38.5%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.

156.78 0.59 −0.37%

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Market cap: $30.3B
P/E: 13.4×
Fwd P/E: 13.4×
Dividend yield: 1.38%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 30.39

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	1	1	—	—	—	2	1	—	—

Insider Ownership 11.28%

Capital & Financial Ratios $m

Market Cap 30,270.00

Revenue 16,990.00

Net Income 2,306.00

Free Cash Flow 1,442.00

Net Debt (8,903.00)

Current Ratio 1.06

Debt/Equity 0.43

P/E ratio 13.40

Fwd P/E 13.40

P/S ratio 1.79

P/B ratio 2.38

Past 5Y EPS Growth 21.52%

This Y EPS Growth 13.51%

Next Y EPS Growth 18.88%

Next Y revenue growth (1.17%)

Next 5Y EPS Growth 16.17%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 32.36%

10-year low 10-year high

P/S against its own 10 years 44.31%

10-year low 10-year high

P/B against its own 10 years 71.25%

10-year low 10-year high

Dividends

Payout Ratio 0.19

Annual Dividend Rate 2.16

Annual Dividend Yield 1.38%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.16	0.54 0.54 0.54 0.54
2025	2.00	0.50 0.50 0.50 0.50
2024	1.35	0.45 0.45 0.45
2023	1.71	0.42 0.42 0.42 0.45
2022	1.78	0.34 0.34 0.34 0.34 0.42
2021	1.04	0.26 0.26 0.26 0.26
2020	0.74	0.25 0.25 0.25
2019	1.15	0.23 0.23 0.23 0.23 0.25
2018	0.73	0.17 0.17 0.20 0.20
2017	0.44	0.15 0.15 0.15
2016	0.55	0.13 0.13 0.13 0.15

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	12,966	15,097	15,485	14,419
Receivables	5,269	5,862	6,261	7,865
Inventory	1,187	1,480	1,538	1,627
Other	—	—	—	—
	63,197	68,433	74,851	80,138

	2023	2024	2025	Q'26
Payables	7,378	7,763	7,814	9,173
ST’ Debt	—	—	—	—
Other	54,915	56,986	59,788	64,210
	64,207	67,074	70,205	75,938

Compound Annual Growth %

	10y	5y	3y
Sales	11.60%	14.27%	12.06%
Cash Flow	10.48%	(9.78%)	223.34%
Earnings	15.53%	21.06%	12.22%
Book Value	10.08%	11.75%	9.85%

Revenue $m

	Dec	Mar	Jun	Sep	Year
’26	4,176	4,262	4,362	—	—
’25	4,035	3,845	3,842	4,190	15,912
’24	3,520	3,638	3,762	4,003	14,923
’23	3,027	3,157	3,293	3,515	12,992
’22	2,818	2,711	2,778	3,001	11,308
’21	2,260	2,409	2,511	2,730	9,910
’20	2,060	2,111	1,876	2,121	8,168

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Dec	Mar	Jun	Sep	Year
’26	(10)	1,099	(246)	—	—
’25	830	117	691	796	2,434
’24	543	391	711	510	2,155
’23	(3,136)	(624)	(188)	434	(3,514)
’22	(2,287)	1,117	5,740	(4,498)	72
’21	1,921	(1,185)	1,409	4,502	6,647
’20	546	2,397	(288)	1,418	4,073

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Dec	Mar	Jun	Sep	Year
’26	(56)	1,054	(308)	—	—
’25	789	71	634	752	2,246
’24	493	342	655	460	1,950
’23	(3,163)	(666)	(241)	383	(3,687)
’22	(2,306)	1,094	5,714	(4,521)	(19)
’21	1,896	(1,222)	1,372	4,527	6,573
’20	510	2,362	(314)	1,391	3,949

Fiscal quarters ending in the months shown.

EPS $

	Dec	Mar	Jun	Sep	Year
’26	2.79	2.72	3.01	—	—
’25	2.86	2.36	2.12	2.95	10.30
’24	2.32	2.22	2.31	2.86	9.70
’23	2.30	1.93	1.71	2.02	7.97
’22	2.10	1.52	1.38	1.98	6.98
’21	1.49	1.67	1.45	2.02	6.63
’20	1.26	0.80	0.82	1.00	3.89

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	26.56	46.06	46.07	47.59	36.14	62.02	84.86	82.00	104.24	117.57	Analyst estimates 2026–2028 Powerpack
	High	49.80	60.86	68.11	61.33	68.30	103.47	126.00	120.73	171.38	177.66
People
People	Employees	11,900	12,700	13,900	14,200	14,800	15,000	17,000	18,000	19,000	19,500
	Revenue/emp, $m	0.46	0.51	0.54	0.57	0.55	0.66	0.67	0.72	0.79	0.82
Income, $m
Income, $m	Revenue	5,521	6,525	7,476	8,023	8,168	9,910	11,308	12,992	14,923	15,912
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	812	925	1,311	1,375	1,052	1,791	2,022	2,280	2,643	2,714
	EBT margin, %	14.71	14.18	17.54	17.14	12.88	18.07	17.88	17.55	17.71	17.06
	Net income	529	636	857	1,034	818	1,403	1,509	1,739	2,068	2,135
	Depreciation	47	41	120	126	176	149	168	116	143	176
Per share, $
Per share, $	Revenue	25.96	30.36	34.30	37.93	39.57	48.18	53.87	61.34	72.06	78.77
	Earnings	2.49	2.95	3.93	4.88	3.96	6.81	7.16	8.16	9.94	10.53
	Cash flow	(2.70)	(0.58)	4.06	2.73	19.73	32.31	0.34	(16.59)	10.41	12.05
	Capex	(0.57)	(0.88)	(0.61)	(0.65)	(0.60)	(0.36)	(0.43)	(0.82)	(0.99)	(0.93)
	Free cash flow	(3.27)	(1.47)	3.44	2.08	19.13	31.95	(0.09)	(17.41)	9.42	11.12
	Book value	23.81	26.49	29.60	31.41	34.77	40.36	44.94	48.10	56.34	61.90
	Shares, m	213	215	218	212	206	206	210	212	207	202
Valuation, ×
Valuation, ×	P/E	15.61	19.13	15.70	11.26	12.27	13.56	13.80	12.04	12.31	16.38
	P/S	1.49	1.86	1.79	1.45	1.23	1.92	1.83	1.60	1.70	2.19
	P/B	1.63	2.13	2.08	1.75	1.40	2.29	2.23	2.06	2.19	2.81
	EV/Sales	0.70	1.20	1.28	0.97	0.40	0.34	0.86	0.91	0.97	1.56
	EV/FCF	(5.53)	(24.91)	12.73	17.82	0.83	0.51	(510.75)	(3.19)	7.44	11.09
Cash, $m
Cash, $m	Operating cash flow	(573)	(125)	884	577	4,073	6,647	72	(3,514)	2,155	2,434
	Capex	(122)	(190)	(134)	(138)	(124)	(74)	(91)	(173)	(205)	(188)
	Free cash flow	(695)	(315)	750	439	3,949	6,573	(19)	(3,687)	1,950	2,246
Balance, $m
Balance, $m	Working capital	3,986	4,050	3,641	3,215	(842)	(668)	(1,621)	(1,010)	1,359	4,646
	Total debt	2,765	3,420	2,696	2,757	3,326	3,400	4,325	3,966	4,251	5,521
	Net debt	(4,411)	(4,269)	(3,873)	(3,805)	(6,730)	(15,629)	(11,038)	(9,000)	(10,846)	(9,964)
	Shareholders’ equity	5,063	5,693	6,452	6,643	7,176	8,303	9,432	10,187	11,667	12,504
Returns, %
Returns, %	ROA	1.82	1.91	2.37	2.71	1.90	2.57	2.11	2.17	2.55	2.48
	ROIC	95.59	47.91	37.25	37.33	211.46	0.00	0.00	199.29	364.65	113.14
	ROE	10.72	11.81	14.10	15.76	11.84	18.13	17.09	17.80	18.98	17.72

Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
STT State Street Corporation	$46.0B	13.1×	13.4×	+5.36% (above 0%: growing)	+40.48% (above 0%: growing)	+65.74% (above 0%: growing)	66.12%	0.00%	Compare
AMP Ameriprise Financial, Inc.	$44.4B	11.9×	10.7×	+12.91% (above 0%: growing)	+11.40% (above 0%: growing)	+65.06% (above 0%: growing)	100.00%	29.70%	Compare
ARES Ares Management Corporation	$37.7B	51.5×	21.0×	+5.81% (above 0%: growing)	+6.52% (above 0%: growing)	−197.89% (below 0%: shrinking)	100.00%	17.40%	Compare
RJF Raymond James Financial, Inc.	$30.3B	13.4×	13.4×	+13.53% (above 0%: growing)	+41.67% (above 0%: growing)	−148.58% (below 0%: shrinking)	100.00%	26.55%
NTRS Northern Trust Corporation	$30.3B	14.1×	15.2×	+16.99% (above 0%: growing)	+98.60% (above 0%: growing)	−113.28% (below 0%: shrinking)	64.06%	0.00%	Compare
PFG Principal Financial Group, Inc.	$23.3B	15.2×	11.5×	+6.39% (above 0%: growing)	+3.31% (above 0%: growing)	+154.82% (above 0%: growing)	48.38%	12.71%	Compare
TROW T. Rowe Price Group, Inc.	$21.6B	10.1×	11.9×	+10.68% (above 0%: growing)	+28.57% (above 0%: growing)	−3.59% (below 0%: shrinking)	100.00%	28.34%	Compare
TPG TPG Inc.	$16.7B	36.0×	14.3×	+100.04% (above 0%: growing)	n/m	−14.25% (below 0%: shrinking)	100.00%	20.65%	Compare
BEN Franklin Resources Inc	$15.9B	21.1×	18.2×	+14.26% (above 0%: growing)	+106.67% (above 0%: growing)	−55.71% (below 0%: shrinking)	100.00%	9.15%	Compare
Median of peers	$26.8B	14.7×	13.9×	+11.80%	+28.57%	−8.92%	100.00%	15.06%

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Raymond James Financial, Inc. (RJF) key facts

Strength: Raymond James Financial, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $15.9 billion, up 6.63% from fiscal 2024.
Strength: Net income was $2.1 billion, or $10.53 per share (basic), a net margin of 13.4%.
Raymond James Financial, Inc. (RJF) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, RJF traded at $156.78, a market capitalization of $30.3 billion.
At that price the stock trades at 13.4× trailing-twelve-month earnings and 1.8× sales; its P/E is higher than 32% of its own readings over the past ten years.
Raymond James Financial, Inc. pays an annual dividend of $2.16 per share, a yield of 1.38%, with a payout ratio of 18.8%.
Return on equity was 17.7% and debt-to-equity 0.43.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.