STOCK TITAN

Raymond James Financials

RJF
FY2025 annual
Revenue $14.1B +9.7% YoY
Net Income $2.1B +3.2% YoY
EPS (Diluted) $10.30 +6.2% YoY
Free Cash Flow $2.2B +15.2% YoY
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE September

Raymond James (RJF) reported $14.1B in revenue for fiscal year 2025, up 9.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI RJF FY2025

RJF’s core mechanic is stable profitability riding on a large balance sheet, while cash generation moves with funding flows.

Between FY2022 and FY2025, net income rose from $1.5B to $2.1B, showing the earnings engine kept compounding even as balance-sheet conditions changed. At the same time, operating cash flow moved from $72M to $2.4B after turning negative in the interim, which implies cash generation here is heavily driven by funding and working-balance movements rather than mirroring accounting profit year by year.

With $75.7B of liabilities against $12.5B of equity in FY2025, the balance sheet does most of the work: modest return on assets can still produce healthy returns to shareholders because a large asset base is funded by non-equity capital. That is why a roughly 2.4% return on assets can coexist with a 17.1% return on equity without requiring unusually high operating margins. Cash reserves of $11.4B add a cushion, so the leverage here is paired with meaningful liquidity rather than heavy long-term borrowing alone.

Capital spending was only $188M against $2.4B of operating cash flow in FY2025, so this is not a business where physical reinvestment absorbs most of the cash it produces. The more important constraint is funding mix stability, not factories or inventory, which helps explain why free cash flow can rebound quickly once balance-sheet flows normalize.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Raymond James does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
5/6

Raymond James passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.14x

For every $1 of reported earnings, Raymond James generates $1.14 in operating cash flow ($2.4B OCF vs $2.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
$14.1B
YoY+9.7%
5Y CAGR+12.0%
10Y CAGR+10.5%

Raymond James generated $14.1B in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.

Net Income
$2.1B
YoY+3.2%
5Y CAGR+21.2%
10Y CAGR+15.6%

Raymond James reported $2.1B in net income in fiscal year 2025. This represents an increase of 3.2% from the prior year.

EPS (Diluted)
$10.30
YoY+6.2%
5Y CAGR+21.6%
10Y CAGR+11.6%

Raymond James earned $10.30 per diluted share (EPS) in fiscal year 2025. This represents an increase of 6.2% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
$2.2B
YoY+15.2%
5Y CAGR-10.7%
10Y CAGR+10.5%

Raymond James generated $2.2B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 15.2% from the prior year.

Cash & Debt
$11.4B
YoY+3.6%
5Y CAGR+16.1%
10Y CAGR+15.9%

Raymond James held $11.4B in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share
$2.00
YoY+11.1%
5Y CAGR+15.1%
10Y CAGR+10.8%

Raymond James paid $2.00 per share in dividends in fiscal year 2025. This represents an increase of 11.1% from the prior year.

Shares Outstanding
198M
YoY-2.5%
5Y CAGR-0.7%
10Y CAGR+3.3%

Raymond James had 198M shares outstanding in fiscal year 2025. This represents a decrease of 2.5% from the prior year.

Margins & Returns

Net Margin
15.2%
YoY-1.0pp
5Y CAGR+4.9pp
10Y CAGR+5.5pp

Raymond James's net profit margin was 15.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.0 percentage points from the prior year.

Return on Equity
17.1%
YoY-0.6pp
5Y CAGR+5.6pp
10Y CAGR+6.0pp

Raymond James's ROE was 17.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Capital Expenditures
$188.0M
YoY-8.3%
5Y CAGR+8.7%
10Y CAGR+9.8%

Raymond James invested $188.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.3% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

RJF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RJF annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Revenue$15.2B$14.1B+9.7%$12.8B+10.3%$11.6B+5.6%$11.0B+12.7%$9.8B+22.2%$8.0B+3.2%$7.7B+6.4%$7.3B+14.2%$6.4B+17.9%$5.4B+3.9%$5.2B+7.0%$4.9B+8.4%$4.5B+17.8%$3.8B+12.0%$3.4B
SG&A Expenses$10.0B$9.1B+10.5%$8.2B+12.5%$7.3B-0.4%$7.3B+11.3%$6.6B+20.5%$5.5B+7.4%$5.1B+6.1%$4.8B+13.4%$4.2B+16.6%$3.6B+2.8%$3.5B+6.4%$3.3B+8.5%$3.1B+16.6%$2.6B+15.4%$2.3B
Interest Expense$1.7B$1.8B-12.1%$2.1B+53.1%$1.4B+350.2%$305.0M+103.3%$150.0M-15.7%$178.0M-37.1%$283.0M+40.1%$202.0M+31.2%$154.0M+32.7%$116.1M+9.4%$106.1M+1.9%$104.1M-5.7%$110.4M+20.8%$91.4M-72.0%$326.5M
Income Tax$638.0M$579.0M+0.7%$575.0M+6.3%$541.0M+5.5%$513.0M+32.2%$388.0M+65.8%$234.0M-31.4%$341.0M-24.9%$454.0M+57.1%$289.0M+6.5%$271.3M-8.4%$296.0M+10.5%$267.8M+35.9%$197.0M+12.2%$175.7M-4.0%$182.9M
Net Income$2.3B$2.1B+3.2%$2.1B+18.9%$1.7B+15.2%$1.5B+7.6%$1.4B+71.5%$818.0M-20.9%$1.0B+20.7%$857.0M+34.7%$636.0M+20.1%$529.4M+5.4%$502.1M+4.6%$480.2M+30.8%$367.2M+24.1%$295.9M+6.3%$278.4M
EPS (Diluted)$10.30+6.2%$9.70+21.7%$7.97+14.2%$6.98+5.3%$6.63+70.9%$3.88-18.8%$4.78-16.9%$5.75+32.8%$4.33+18.6%$3.65+6.4%$3.43+3.3%$3.32+28.7%$2.58+17.3%$2.20+0.5%$2.19

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.

TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

RJF Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RJF annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Total Assets$88.2B+6.3%$83.0B+5.9%$78.4B-3.2%$81.0B+30.8%$61.9B+30.3%$47.5B+22.3%$38.8B+3.8%$37.4B+7.3%$34.9B+10.8%$31.5B+19.0%$26.5B+13.5%$23.3B+0.6%$23.2B+9.6%$21.2B+17.5%$18.0B
Cash & Equivalents$11.4B+3.6%$11.0B+18.1%$9.3B+50.7%$6.2B-14.2%$7.2B+33.6%$5.4B+36.2%$4.0B+13.1%$3.5B-4.6%$3.7B+122.4%$1.7B-36.5%$2.6B+18.3%$2.2B-15.3%$2.6B+31.1%$2.0B-18.8%$2.4B
Goodwill$1.5B0.0%$1.5B+1.0%$1.4B+1.1%$1.4B+115.5%$660.0M+41.6%$466.0M+0.4%$464.0M-2.9%$478.0M+16.3%$411.0M+0.7%$408.1M+32.6%$307.6M+4.1%$295.5M0.0%$295.5M-1.5%$300.1M+317.3%$71.9M
Total Liabilities$75.7B+6.2%$71.3B+4.6%$68.2B-4.7%$71.5B+33.5%$53.6B+33.0%$40.3B+25.2%$32.2B+4.0%$31.0B+6.1%$29.2B+10.5%$26.4B+21.9%$21.7B+14.8%$18.9B-1.5%$19.2B+9.8%$17.5B+15.8%$15.1B
Long-Term DebtN/AN/AN/A$1.0M-87.5%$8.0MN/AN/AN/AN/AN/AN/A$1.2B-0.3%$1.2BN/AN/A
Total Equity$12.5B+7.1%$11.7B+14.3%$10.2B+8.0%$9.5B+14.7%$8.2B+15.9%$7.1B+8.1%$6.6B+3.3%$6.4B+14.1%$5.6B+13.5%$4.9B+8.7%$4.5B+9.2%$4.1B+13.1%$3.7B+12.1%$3.3B+26.3%$2.6B
Retained Earnings$13.6B+14.4%$11.9B+16.5%$10.2B+15.5%$8.8B+15.9%$7.6B+17.7%$6.5B+10.4%$5.9B+16.7%$5.0B+15.9%$4.3B+13.2%$3.8B+12.1%$3.4B+13.1%$3.0B+14.8%$2.6B+12.3%$2.3B+10.4%$2.1B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.

RJF Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RJF annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Operating Cash Flow$1.6B$2.4B+12.9%$2.2B+161.3%-$3.5B-4980.6%$72.0M-98.9%$6.6B+63.2%$4.1B+605.9%$577.0M-34.7%$884.0M+807.2%-$125.0M+78.2%-$573.3M-163.8%$898.7M+77.1%$507.6M-23.1%$659.8M+68.6%$391.3M-74.9%$1.6B
Capital Expenditures$197.0M$188.0M-8.3%$205.0M+18.5%$173.0M+90.1%$91.0M+23.0%$74.0M-40.3%$124.0M-10.1%$138.0M+3.0%$134.0M-29.5%$190.0M+56.1%$121.7M+64.3%$74.1M+23.2%$60.1M-17.5%$72.9M-6.0%$77.5M+108.4%$37.2M
Free Cash Flow$1.4B$2.2B+15.2%$1.9B+152.9%-$3.7B-19305.3%-$19.0M-100.3%$6.6B+66.4%$3.9B+799.5%$439.0M-41.5%$750.0M+338.1%-$315.0M+54.7%-$695.1M-184.3%$824.6M+84.3%$447.4M-23.8%$586.9M+87.1%$313.8M-79.4%$1.5B
Investing Cash Flow-$6.7B-$4.3B-346.4%-$968.0M-253.3%-$274.0M+96.2%-$7.2B-39.1%-$5.1B-3.1%-$5.0B-162.8%-$1.9B+45.4%-$3.5B-3.0%-$3.4B-15.7%-$2.9B-34.1%-$2.2B-3.8%-$2.1BN/A-$2.7B-582.6%-$400.1M
Financing Cash Flow$5.5B$2.4B+439.0%$438.0M-69.5%$1.4B-75.5%$5.9B+12.4%$5.2B+14.4%$4.6B+233.1%$1.4B-3.3%$1.4B-65.1%$4.1B+60.0%$2.5B+46.8%$1.7B+41.3%$1.2BN/A$1.9B+211.9%-$1.7B
Dividends PaidN/AN/AN/AN/AN/A$218.0M+6.3%$205.0M+7.3%$191.0M+26.5%$151.0M+18.9%$127.0M+12.0%$113.4M+10.0%$103.1M+17.1%$88.1M+15.0%$76.6M+11.4%$68.8M+9.0%$63.1M
Share BuybacksN/AN/AN/AN/AN/A$128.0M-52.9%$272.0M-65.0%$778.0M+1154.8%$62.0M+82.4%$34.0M-79.1%$162.5M+83.5%$88.5M+950.7%$8.4M-28.1%$11.7M-43.8%$20.9M-9.7%$23.1M

TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

RJF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

RJF annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Net Margin15.2%-1.0pp16.1%+1.2pp15.0%+1.3pp13.7%-0.7pp14.4%+4.1pp10.2%-3.1pp13.4%+1.6pp11.8%+1.8pp10.0%+0.2pp9.8%+0.1pp9.7%-0.2pp9.9%+1.7pp8.2%+0.4pp7.8%-0.4pp8.2%
Return on Equity17.1%-0.6pp17.7%+0.7pp17.0%+1.1pp16.0%-1.1pp17.0%+5.5pp11.5%-4.2pp15.7%+2.2pp13.5%+2.1pp11.4%+0.6pp10.8%-0.3pp11.1%-0.5pp11.6%+1.6pp10.0%+1.0pp9.0%-1.7pp10.8%
Return on Assets2.4%-0.1pp2.5%+0.3pp2.2%+0.4pp1.9%-0.4pp2.3%+0.6pp1.7%-0.9pp2.7%+0.4pp2.3%+0.5pp1.8%+0.1pp1.7%-0.2pp1.9%-0.2pp2.1%+0.5pp1.6%+0.2pp1.4%-0.1pp1.6%
Debt-to-Equity6.06-0.1x6.11-0.6x6.67+6.7x0.000.0x0.00-5.7x5.67+0.8x4.890.0x4.86-0.4x5.23-0.1x5.37+0.6x4.79+4.5x0.290.0x0.33-5.0x5.35-0.5x5.83
FCF Margin16.0%+0.8pp15.2%+46.9pp-31.7%-31.6pp-0.2%-67.5pp67.3%+17.9pp49.4%+43.8pp5.7%-4.6pp10.3%+15.3pp-4.9%+7.9pp-12.9%-28.7pp15.8%+6.7pp9.2%-3.9pp13.1%+4.8pp8.2%-36.5pp44.7%

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

Similar Companies

Frequently Asked Questions

What is Raymond James's annual revenue?

Raymond James (RJF) reported $14.1B in total revenue for fiscal year 2025. This represents a 9.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Raymond James's revenue growing?

Raymond James (RJF) revenue grew by 9.7% year-over-year, from $12.8B to $14.1B in fiscal year 2025.

Is Raymond James profitable?

Yes, Raymond James (RJF) reported a net income of $2.1B in fiscal year 2025, with a net profit margin of 15.2%.

Raymond James (RJF) reported diluted earnings per share of $10.30 for fiscal year 2025. This represents a 6.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Raymond James (RJF) had a net profit margin of 15.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Raymond James (RJF) paid $2.00 per share in dividends during fiscal year 2025.

Raymond James (RJF) has a return on equity of 17.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Raymond James (RJF) generated $2.2B in free cash flow during fiscal year 2025. This represents a 15.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Raymond James (RJF) generated $2.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Raymond James (RJF) had $88.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Raymond James (RJF) invested $188.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Raymond James (RJF) had 198M shares outstanding as of fiscal year 2025.

Raymond James (RJF) had a debt-to-equity ratio of 6.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Raymond James (RJF) had a return on assets of 2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Raymond James (RJF) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Raymond James (RJF) has an earnings quality ratio of 1.14x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Back to top