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).
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
Capital spending was only
Financial Health Signals
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.
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.
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
Earnings & Revenue
Raymond James generated $14.1B in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.
Raymond James reported $2.1B in net income in fiscal year 2025. This represents an increase of 3.2% from the prior year.
Raymond James earned $10.30 per diluted share (EPS) in fiscal year 2025. This represents an increase of 6.2% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
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.
Raymond James held $11.4B in cash as of fiscal year 2025; long-term debt is not reported for that period.
Raymond James paid $2.00 per share in dividends in fiscal year 2025. This represents an increase of 11.1% from the prior year.
Margins & Returns
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.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
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.
Not reported for fiscal year 2025.
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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 Debt | N/A | N/A | N/A | $1.0M-87.5% | $8.0M | N/A | N/A | N/A | N/A | N/A | N/A | $1.2B-0.3% | $1.2B | N/A | N/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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | -$2.1B | N/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% | $1.2B | N/A | $1.9B+211.9% | -$1.7B |
| Dividends Paid | N/A | N/A | N/A | N/A | N/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 Buybacks | N/A | N/A | N/A | N/A | N/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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 15.2%-1.0pp | 16.1%+1.2pp | 15.0%+1.3pp | 13.7%-0.7pp | 14.4%+4.1pp | 10.2%-3.1pp | 13.4%+1.6pp | 11.8%+1.8pp | 10.0%+0.2pp | 9.8%+0.1pp | 9.7%-0.2pp | 9.9%+1.7pp | 8.2%+0.4pp | 7.8%-0.4pp | 8.2% |
| Return on Equity | 17.1%-0.6pp | 17.7%+0.7pp | 17.0%+1.1pp | 16.0%-1.1pp | 17.0%+5.5pp | 11.5%-4.2pp | 15.7%+2.2pp | 13.5%+2.1pp | 11.4%+0.6pp | 10.8%-0.3pp | 11.1%-0.5pp | 11.6%+1.6pp | 10.0%+1.0pp | 9.0%-1.7pp | 10.8% |
| Return on Assets | 2.4%-0.1pp | 2.5%+0.3pp | 2.2%+0.4pp | 1.9%-0.4pp | 2.3%+0.6pp | 1.7%-0.9pp | 2.7%+0.4pp | 2.3%+0.5pp | 1.8%+0.1pp | 1.7%-0.2pp | 1.9%-0.2pp | 2.1%+0.5pp | 1.6%+0.2pp | 1.4%-0.1pp | 1.6% |
| Debt-to-Equity | 6.06-0.1x | 6.11-0.6x | 6.67+6.7x | 0.000.0x | 0.00-5.7x | 5.67+0.8x | 4.890.0x | 4.86-0.4x | 5.23-0.1x | 5.37+0.6x | 4.79+4.5x | 0.290.0x | 0.33-5.0x | 5.35-0.5x | 5.83 |
| FCF Margin | 16.0%+0.8pp | 15.2%+46.9pp | -31.7%-31.6pp | -0.2%-67.5pp | 67.3%+17.9pp | 49.4%+43.8pp | 5.7%-4.6pp | 10.3%+15.3pp | -4.9%+7.9pp | -12.9%-28.7pp | 15.8%+6.7pp | 9.2%-3.9pp | 13.1%+4.8pp | 8.2%-36.5pp | 44.7% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
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Where Raymond James Ranks
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%.
What is Raymond James's net profit margin?
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.
Does Raymond James pay dividends?
Yes, Raymond James (RJF) paid $2.00 per share in dividends during fiscal year 2025.
What is Raymond James's return on equity (ROE)?
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.
What is Raymond James's free cash flow?
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.
What is Raymond James's operating cash flow?
Raymond James (RJF) generated $2.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Raymond James's total assets?
Raymond James (RJF) had $88.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Raymond James's capital expenditures?
Raymond James (RJF) invested $188.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Raymond James's debt-to-equity ratio?
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.
What is Raymond James's return on assets (ROA)?
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.
What is Raymond James's Piotroski F-Score?
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.
Are Raymond James's earnings high quality?
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.