Raymond James Financial, Inc. (RJF) vs State Street Corporation (STT)

Raymond James Financial, Inc. and State Street Corporation are both Asset Management companies. State Street Corporation is the larger, with a market value of $49.8B against $30.5B — 1.6× the size. Raymond James Financial, Inc. trades at the lower P/E: 13.7× against 15.7×. Raymond James Financial, Inc. grew revenue faster over the last twelve months: 8.04% against 2.00%. State Street Corporation has the higher net margin (14.0% vs 13.5%) and the lower return on invested capital (0.00% vs 75.2%). Both pay a dividend; State Street Corporation yields more (3.93% vs 1.62%). Across the 22 metrics below, Raymond James Financial, Inc. leads on 16 and State Street Corporation on 6.

Valuation

Metric RJF STT Asset Management median
P/E 13.66 15.73 14.62
P/S 1.83 2.18 2.97
P/B 2.43 2.03 0.94
Price to free cash flow 21.51 24.80 8.93
EV/EBITDA 4.55 n/m 10.32
EV/Sales 1.30 (3.63) 5.72
Earnings yield 7.32% 6.36% 4.53%
Free cash flow yield 4.65% 4.03% 4.65%

Profitability

Metric RJF STT Asset Management median
Gross margin 100.00% 65.45% 100.00%
Operating margin 27.47% 0.00% 33.03%
Net margin 13.53% 14.00% 13.53%
Free cash flow margin 8.49% 8.78% 12.44%
Return on equity 18.41% 13.29% 4.83%
Return on assets 2.57% 0.81% 1.57%
Return on invested capital 75.18% 0.00% 3.04%

Growth

Metric RJF STT Asset Management median
Revenue growth (TTM) 8.04% 2.00% 6.97%
EPS growth (last fiscal year) 6.19% 14.49% —
Revenue growth, 5-year CAGR 14.27% 13.38% 12.13%
Net income growth, 5-year CAGR 21.06% 3.78% 0.00%

Health

Metric RJF STT Asset Management median
Debt to equity 0.43 0.91 0.42
Current ratio 1.06 0.59 1.28
Net debt to EBITDA (2.09) 0.00 1.06

Dividend

Metric RJF STT Asset Management median
Dividend yield 1.62% 3.93% 6.92%
Payout ratio 0.20 0.34 0.77

Size

Metric RJF STT Asset Management median
Market cap 30.54b 49.75b 721.34m

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