Skip to content
AnalystLens

Raymond James FinancialRJF

Legal name
Raymond James Financial, Inc.
Sector
Other
Industry
Security Brokers, Dealers & Flotation Companies
Exchange
NYSE

Stock Price $RJF

Latest filings

You are here#54 of 76 in Financials by market cap

Filing record · 2016–202610-K1010-Q338-K266

RJF filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 266 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $15.91B
YoY changeLargest recent move+21.3%in FY21Latest +6.6%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All RJF Financial Metrics46 metrics

Income Statement9

Balance Sheet17

Cash Flow15

Per Share5

02—Overview

Raymond James Financial Financial Overview 2021–2025

Updated Nov 4, 2026

Raymond James grew net revenues about 62% in five years, from $9.76 billion in FY2021 to $15.79 billiona in FY2026. The core thesis is that the firm now earns its growth from fee-based client assets, not from interest-rate tailwinds, and that shift is what keeps earnings compounding.

The proof sits in the mix. Asset management and related administrative fees rose 14% to $5.98 billionb in FY2025. Over the same year, combined net interest income and RJBDP fees fell 4% to $2.63 billion as rates dropped, yet net revenues still climbed 10% to $14.07 billion. Fee-based Private Client Group assets reached $1.16 trillion at the end of FY2026, up 15%. Diluted EPS rose from $6.63 in FY2021 to $11.91 in FY2026, up 16% in the final year alone. Investment banking, a weak spot in FY2023, recovered with a 26% jump to $1.04 billion in FY2025.

The balance sheet supports the buyback and dividend story. The total capital ratio was 24.2% at the close of FY2026, and about $1.7 billionc went back to shareholders that year. The costs are real, though. The compensation ratio climbed to 65.8% in Q2 2026, and pre-tax margin slipped to 19.0% from 19.7% in that quarter.

The market priced this at a modest multiple. At the close of FY2025, the shares traded at $172.60d, or 16.8x earnings, for a market cap of $34.2 billion.

Recent Developments (Q2 and Q3 2026)

Earnings accelerated through the summer. Q3 2026 net revenues hit $3.93 billione, up 16%, while diluted EPS jumped 42% to $3.01. Pre-tax income rose 33% to $750 million, and the Bank segment posted record pre-tax income of $206 million. Two deals added scale: the Clark Capital acquisition closed April 30, 2026 and added about $36 billion of assets under management, and the firm took a majority stake in GreensLedge. The board also added a thirteenth director, William Weatherford, effective December 15, 2026, and held the dividend at $0.54 per share.

The bull case: record client assets of $1.94 trillion and $98.3 billion of fiscal net new assets point to durable fee growth, and shares were at 16.1x earnings as of the August 4, 2026 report date, not today. The bear case: the compensation ratio sat at 65.7% in Q3 2026, tier 1 leverage fell to 11.7% from 13.1%, and the cash sweep inquiry and class action remain open.

What to watch: compensation ratio against the roughly 65% target; investment banking closing timing

03—Filings

Recent SEC Filings

  1. 8-KRaymond James Financial 8-K Report, Financial Results (Oct 28, 2026)Raymond James Financial, Inc. (NYSE: RJF) reported record fiscal 2026 results for the year and quarter ended September 30, 2026. Fiscal 2026 net revenues were $15.79 billion, up 12%, and net income available to common shareholders was $2.37 billion, with diluted earnings per share of $11.91, up 16%. Adjusted diluted EPS was $12.41. Fourth-quarter net revenues were $4.27 billion, up 15% year over year and 9% sequentially, and diluted EPS was $3.40, or $3.59 on an adjusted basis. Growth was driven primarily by the Private Client Group and Asset Management. Asset management and related administrative fees rose 23% to $2.31 billion in the quarter. Quarter-end client assets under administration reached a record $1.94 trillion, and fee-based PCG assets reached $1.16 trillion, up 15% year over year. Domestic PCG net new assets were $98.3 billion for the fiscal year, and $22.8 billion in the quarter. Investment banking revenue was $370 million in the quarter, up 17% year over year. The firm repurchased $1.25 billion of common stock during the year and returned about $1.7 billion to shareholders including dividends. $1.05 billion remained under the repurchase authorization at fiscal year-end. Capital remained strong, with a total capital ratio of 24.2% and a Tier 1 leverage ratio of 12.1%, both estimated. The filing also notes the April 30, 2026 acquisition of Clark Capital Management Group, which contributed $36 billion of financial assets under management and $47 billion of total client assets at acquisition.
  2. 8-KRaymond James Financial 8-K Report, Regulation FD Disclosure (Sep 23, 2026)On September 23, 2026, Raymond James Financial, Inc. furnished an 8-K under Item 7.01 (Regulation FD Disclosure) attaching a press release with selected operating data for August 2026. The company says the data is provided for timely investor information on monthly developments in key metrics, and that a consistent correlation to earnings should not be assumed given the limited nature of the data. The filing is furnished rather than filed for purposes of Section 18 of the Securities Exchange Act of 1934. CEO Paul Shoukry described record client assets under administration of $1.97 trillion, up 16% year-over-year and 2% sequentially, driven by higher equity markets and net asset inflows from strong advisor retention and recruiting. Client domestic cash sweep and Enhanced Savings Program balances were $57.4 billion, up 6% year-over-year and 1% from July. Bank loans were up slightly from the prior month, as growth in securities-based loans and residential mortgages offset declines in corporate loans. Investment banking pipelines and client activity remain strong, though the company noted the timing of closings remains uncertain.
  3. 8-KRaymond James Financial 8-K Report, Executive Changes (Sep 1, 2026)Raymond James Financial, Inc. filed this Form 8-K to report two items. First, under Item 5.02, the Board appointed William W. Weatherford, age 46, as a director effective December 15, 2026, with appointments to the Audit Committee and Risk Committee. The Board determined he is independent, and the size of the Board was increased from twelve to thirteen directors. Weatherford is managing partner of Weatherford Capital, a family-owned private investment firm he co-founded in 2015, and previously served in the Florida House of Representatives, including as Speaker from 2012. Second, under Item 7.01, the Company disclosed that its Board declared on August 26, 2026 a quarterly dividend of $0.54 per share on common stock, payable October 15, 2026 to shareholders of record on October 1, 2026. This information is furnished rather than filed for purposes of Section 18 of the Exchange Act. The filing attaches two press releases: Exhibit 99.1 (dated August 31, 2026) announcing the director appointment, and Exhibit 99.2 (dated August 26, 2026) announcing the dividend. The company describes itself as having $1.93 trillion in total client assets.
  4. 8-KRaymond James Financial 8-K Report, Regulation FD Disclosure (Aug 19, 2026)Raymond James Financial, Inc. furnished an 8-K on August 19, 2026, attaching a press release that discloses selected operating data for July 2026. The company describes the data as limited in nature and states that a consistent correlation to earnings should not be assumed. Per the press release, client assets under administration reached a record $1.93 trillion at July 31, 2026, up 17% year-over-year and flat versus June 30, 2026 (the release describes the month-over-month change as slight, attributed to net asset inflows). Private Client Group assets under administration were $1.86 trillion, and fee-based account assets were $1.16 trillion, up 21% year-over-year. Financial assets under management were $344.6 billion, up 30% year-over-year and essentially flat from June. Bank loans, net, were $56.3 billion, up 13% year-over-year. Clients' domestic cash sweep and Enhanced Savings Program balances were $56.7 billion, up 3% year-over-year but down 4% from the prior month, which the CEO attributes to quarterly fee billings collected in July. The CEO also noted strong advisor retention, a robust recruiting pipeline, and investment banking activity that remains robust although the timing of closings is uncertain.
  5. 8-KRaymond James Financial 8-K Report, Financial Results (Jul 22, 2026)Raymond James Financial, Inc. (NYSE: RJF) reported record fiscal third-quarter 2026 results for the quarter ended June 30, 2026, with net revenues of $3.93 billion, up 16% from the prior year's fiscal third quarter and 2% from the preceding quarter. Net income available to common shareholders was $595 million, or $3.01 per diluted share, up 42% year over year. Excluding $25 million of acquisition-related expenses, net of tax, adjusted net income available to common shareholders was $620 million, or $3.14 per diluted share. For the first nine months of fiscal 2026, net revenues were $11.5 billion (up 11%) and diluted EPS was $8.52 (up 16%), with records set for net revenues, pre-tax income, net income and EPS. Growth was driven by the Private Client Group and Asset Management segments. Client assets under administration reached a record $1.92 trillion, and quarter-end Private Client Group fee-based account assets reached $1.15 trillion, up 22% year over year. Domestic Private Client Group net new assets were $21.7 billion for the quarter, an annualized growth rate of 5.5%. Asset Management financial assets under management rose to $345 billion, including $36 billion from the acquisition of Clark Capital completed on April 30, 2026. Bank pre-tax income was a record $206 million, and Capital Markets investment banking revenues rose 40% year over year. The company repurchased $400 million of common stock at an average price of $152 per share during the quarter, with $1.1 billion remaining under the Board's authorization. The total capital ratio was 22.5% and the tier 1 leverage ratio was 11.7%, both estimated and described as well above regulatory requirements. The effective tax rate was 20.7%, reflecting nontaxable gains on corporate-owned life insurance. The company also noted that it enters the fiscal fourth quarter with strong investment banking pipelines and robust financial advisor recruiting.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.