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Raymond James Financial 8-K Report, Financial Results (Oct 22, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 22, 2025
Period End
October 22, 2025
Security
RJF
In the 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 · Jun ’16Jun ’16
  2. Material agreement8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed October 22, 2025. Cited figures are marked; the original filing is the authoritative source.

Raymond James Financial, Inc. (NYSE: RJF) reported record fiscal 2025 results for the year ended September 30, 2025, with record annual net revenues of $14.07 billiona, record net income available to common shareholders of $2.13 billion, and record diluted earnings per share of $10.30.

For the fiscal fourth quarter, net revenues were a record $3.73 billionb, up 8% year over year and 10% sequentially, and net income available to common shareholders was $603 million, or $2.95 per diluted share. Excluding $39 million of acquisition-related expenses, adjusted diluted EPS was $3.11. Client assets under administration reached a record $1.73 trillion, and Private Client Group fee-based account assets reached a record $1.01 trillion, up 15% year over year.

Growth was broad-based across segments. Asset management and related administrative fees rose to $1.88 billionc in the quarter, and the Asset Management and Capital Markets segments delivered strong annual results, with Capital Markets annual pre-tax income of $146 million versus $67 million in fiscal 2024. Domestic Private Client Group net new assets were $17.9 billion in the quarter, an annualized growth rate of 5.0%.

Bank segment net loans reached a record $51.6 billiond, and the net interest margin was 2.71% for the quarter. Fiscal 2025 results included a $58 million reserve increase tied to a legal settlement in the Capital Markets segment. Capital and shareholder returns remained strong.

The company repurchased $350 million of common stock in the quarter at an average price of $166 per share, leaving $399 million under the Board's authorization, and returned over $1.5 billion to shareholders in fiscal 2025 through repurchases and dividends. The total capital ratio was an estimated 24.1% and the tier 1 leverage ratio an estimated 13.1%. The company also cited about $1 billion of technology investment during the year, including AI, and disclosed a pending acquisition of GreensLedge Holdings LLC expected to close later in fiscal 2026.

02—Key points

Key Highlights

  1. Record fiscal 2025 net revenues of $14.07 billion (up 10%), record net income available to common shareholders of $2.13 billion, and record diluted EPS of $10.30; adjusted diluted EPS of $10.66.
  2. Fiscal fourth quarter net revenues of $3.73 billion, up 8% year over year and 10% sequentially; net income available to common shareholders of $603 million, or $2.95 per diluted share ($3.11 adjusted).
  3. Record client assets under administration of $1.73 trillion and record PCG fee-based account assets of $1.01 trillion, up 15% year over year.
  4. Domestic PCG net new assets of $17.9 billion in the quarter (5.0% annualized growth) and $52.4 billion for fiscal 2025.
  5. Returned over $1.5 billion to shareholders in fiscal 2025; $350 million of share repurchases in the quarter at an average price of $166, with $399 million remaining under the authorization.
  6. Asset Management reported record annual pre-tax income of $503 million; Bank segment net loans reached a record $51.6 billion with a 2.71% quarterly net interest margin.
  7. Capital Markets annual pre-tax income rose to $146 million, and the company announced the pending acquisition of GreensLedge Holdings LLC, expected to close later in fiscal 2026.

03—Questions

Frequently Asked Questions

  1. How did Raymond James perform in fiscal 2025?

    The company reported record fiscal 2025 net revenues of $14.07 billion, up 10%, and record net income available to common shareholders of $2.13 billion. Diluted EPS was a record $10.30, and adjusted diluted EPS was $10.66, each up 6% over fiscal 2024.

  2. What drove fourth-quarter revenue growth?

    Quarterly net revenues rose 8% year over year to $3.73 billion, mainly driven by higher asset management and related administrative fees, which increased to $1.88 billion, partially offset by lower short-term interest rates. Sequentially, revenue grew 10%, with higher asset management fees and investment banking revenues.

  3. How much capital did the company return and what is left under its buyback authorization?

    The company repurchased $350 million of common stock in the fiscal fourth quarter at an average price of $166 per share and returned over $1.5 billion to shareholders in fiscal 2025 through repurchases and dividends. As of September 30, 2025, $399 million remained under the Board's approved repurchase authorization.

  4. What is the status of the GreensLedge acquisition?

    The company disclosed a recently announced acquisition of GreensLedge Holdings LLC, which it expects to close later in fiscal 2026. The company said it provides specialized structured products expertise that will complement its capital markets business.

04—Continue

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