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

Stifel Financial Corporation

SF Financial Capital Markets

Stifel Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.5 billion, up 11.3% from fiscal 2024.

Revenue
−0.22%
EPS
+13.3%
Free cash flow
−90.9%
Total debt
+26.6%

Quarter to September 2026, against a year earlier

71.45 0.40 −0.56%
Market cap
$10.8B
P/E
11.8×
Fwd P/E
11.4×
Dividend yield
1.85%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Stifel Financial Corporation (SF) valuation and DCF model

What the price implies · reverse DCF

At $71.45 the price implies 22.9% a year of dividend growth, at a 9.0% cost of equity.

In December 2017 the price assumed 56.2% a year; Stifel Financial Corporation went on to grow the dividend a share 7.2% a year to FY2025.

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
22.9% a year for ten years
$71.45
today’s price
Its base case
5.0% a year for five years, then 3.0%
$17.46
75.6% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Stifel Financial Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 22.9% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Stifel Financial Corporation’s own cost of capital: risk-free 4.3% + beta 1.02 × equity premium 4.5% = 8.9% cost of equity; weighted, 8.9%.

Use 8.9%
Base case value per share $17.46 ten years discounted, and what follows
Current price $71.45 market price per share
Below today’s price 75.6% downside at the base case’s assumptions

How we got there$7.81 10 years of dividends+$9.64 terminal value=$17.46 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Capital Markets).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 11.76× 14.66× 13.57× 13% below 14.35× 18% below
P/FCF 38.52× 19.97× 13.47× 186% above 9.28× 315% above
P/B 2.05× 1.94× 1.67× 23% above 1.36× 50% above
EV/EBITDA — 7.13× 8.07× — 3.38× —
EV/Sales — 1.64× 1.57× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
9.35×13.79×18.24×22.69×10Y avg 13.57×2017201820192020202120222023202420252026

SF trades at 11.76× P/E, against a 10-year average of 13.57× (range 7.74×–23.72×). That is dearer than 56% of the last 9 year-end readings; re-rating to the average implies $82.46 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.