Raymond James Financial (RJF) Financials

$154.00 +0.52 (+0.34%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$153.25 -0.75 (-0.49%)

As of 08:21 AM Eastern

Annual Income Statements for Raymond James Financial

This table shows Raymond James Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	502	529	636	857	1,034	818	1,403	1,505	1,733	2,063	2,130
Consolidated Net Income / (Loss)	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068	2,135
Net Income / (Loss) Continuing Operations	519	541	636	857	1,034	818	1,435	1,509	1,739	2,068	2,135
Total Pre-Tax Income	815	812	925	1,311	1,375	1,052	1,791	2,022	2,280	2,643	2,714
Total Revenue	5,204	5,405	6,371	7,274	7,740	7,990	9,760	11,003	11,619	12,821	14,065
Net Interest Income / (Expense)	437	524	648	842	998	822	673	1,203	3,748	4,232	3,994
Total Interest Income	543	640	802	1,044	1,281	1,000	823	1,508	3,748	4,232	3,994
Investment Securities Interest Income	543	640	802	1,044	1,281	1,000	823	1,508	3,748	4,232	3,994
Total Interest Expense	106	116	154	202	283	178	150	305	0.00	0.00	0.00
Total Non-Interest Income	4,766	4,881	5,723	6,432	6,742	7,168	9,087	9,800	7,871	8,589	10,071
Other Service Charges	3,998	82	5,723	-	-	-	-	-	8,782	10,199	11,389
Other Non-Interest Income	-	4,403	0.00	6,432	6,742	7,168	9,087	9,800	-911	-1,610	-1,318
Total Non-Interest Expense	4,389	4,593	5,446	5,963	6,365	6,938	7,969	8,981	9,339	10,178	11,351
Salaries and Employee Benefits	3,525	3,625	4,228	4,795	5,087	5,465	6,584	7,329	7,299	8,213	9,072
Net Occupancy & Equipment Expense	430	447	488	554	591	618	661	758	870	958	1,060
Marketing Expense	159	148	155	181	194	134	111	186	242	257	291
Other Operating Expenses	252	304	498	409	456	442	645	608	796	705	891
Other Special Charges	24	28	59	20	22	46	-	-	132	45	37
Income Tax Expense	296	271	289	454	341	234	388	513	541	575	579
Preferred Stock Dividends Declared	-	-	-	-	-	0.00	0.00	4.00	6.00	5.00	5.00
Basic Earnings per Share	$3.51	$3.72	$4.43	$5.89	$4.88	$3.96	$6.81	$7.16	$8.16	$9.94	$10.53
Weighted Average Basic Shares Outstanding	142.55M	141.77M	143.30M	145.30M	211.50M	206.40M	205.70M	209.90M	211.80M	207.10M	202M
Diluted Earnings per Share	$3.43	$3.65	$4.33	$5.75	$4.78	$3.88	$6.63	$6.98	$7.97	$9.70	$10.30
Weighted Average Diluted Shares Outstanding	145.94M	144.51M	146.60M	148.80M	216M	210.30M	211.20M	215.30M	216.90M	212.30M	206.60M
Weighted Average Basic & Diluted Shares Outstanding	143.10M	142.30M	143.60M	143.28M	138.72M	136.93M	206.16M	215.06M	208.61M	204.04M	196.67M
Cash Dividends to Common per Share	$0.70	$0.78	$0.86	$1.02	$1.32	$1.45	$1.03	$1.28	$1.60	$1.77	$1.95

This table shows Raymond James Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	63	497	474	491	110	599	493	435	603	562	542
Consolidated Net Income / (Loss)	434	498	476	492	602	600	495	436	604	563	544
Net Income / (Loss) Continuing Operations	434	498	476	492	592	600	495	436	604	563	544
Total Pre-Tax Income	585	630	609	644	750	749	671	563	731	728	735
Total Revenue	3,053	3,013	3,118	3,228	3,462	3,537	3,403	3,398	3,727	3,735	3,859
Net Interest Income / (Expense)	557	1,053	1,049	1,057	-1,598	1,027	963	990	1,014	1,007	960
Total Interest Income	1,019	1,053	1,049	1,057	-3,159	1,027	963	990	1,014	1,007	960
Investment Securities Interest Income	1,019	1,053	1,049	1,057	-	1,027	963	990	1,014	1,007	960
Total Interest Expense	462	0.00	0.00	0.00	-1,561	0.00	0.00	0.00	-	0.00	0.00
Total Non-Interest Income	2,496	1,960	2,069	2,171	5,060	2,510	2,440	2,408	2,713	2,728	2,899
Other Service Charges	-	2,328	2,475	2,589	-	2,889	2,733	2,724	3,043	3,043	3,166
Other Non-Interest Income	6,679	-368	-406	-418	-4,568	-379	-293	-316	-330	-315	-267
Total Non-Interest Expense	2,468	2,383	2,509	2,584	2,702	2,788	2,732	2,835	2,996	3,007	3,124
Salaries and Employee Benefits	1,892	1,921	2,043	2,090	2,159	2,272	2,204	2,202	2,394	2,450	2,541
Net Occupancy & Equipment Expense	227	222	238	241	257	251	258	268	283	274	286
Marketing Expense	66	61	60	72	64	68	64	77	82	81	75
Other Operating Expenses	247	167	147	191	200	197	190	273	231	205	217
Other Special Charges	-	12	21	-10	-	0.00	16	15	6.00	-3.00	5.00
Income Tax Expense	151	132	133	152	158	149	176	127	127	165	191
Preferred Stock Dividends Declared	2.00	1.00	2.00	1.00	1.00	1.00	2.00	1.00	1.00	1.00	2.00
Basic Earnings per Share	$0.30	$2.38	$2.27	$2.37	$2.92	$2.94	$2.41	$2.16	$3.02	$2.85	$2.76
Weighted Average Basic Shares Outstanding	211.80M	208.60M	208.30M	206.80M	207.10M	203.70M	204.30M	201.20M	202M	197.10M	196.10M
Diluted Earnings per Share	$0.30	$2.32	$2.22	$2.31	$2.85	$2.86	$2.36	$2.12	$2.96	$2.79	$2.72
Weighted Average Diluted Shares Outstanding	216.90M	213.80M	213.40M	212.30M	212.30M	209.20M	208.70M	205.50M	206.60M	201.40M	199.20M
Weighted Average Basic & Diluted Shares Outstanding	208.61M	209.03M	207.28M	205.94M	204.04M	204.91M	201.75M	199.38M	196.67M	197.09M	194.88M
Cash Dividends to Common per Share	$0.42	$0.42	$0.45	-	-	$0.45	$0.50	-	-	$0.50	$0.54

This table details how cash moves in and out of Raymond James Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	402	-951	611	-1,205	30	3,663	6,815	-1,790	-2,111	1,800	439
Net Cash From Operating Activities	899	-573	-125	884	577	4,073	6,647	72	-3,514	2,155	2,434
Net Cash From Continuing Operating Activities	899	-573	-125	884	577	4,073	6,647	72	-3,514	2,155	2,434
Net Income / (Loss) Continuing Operations	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068	2,135
Consolidated Net Income / (Loss)	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068	2,135
Provision For Loan Losses	34	42	36	55	59	257	-20	111	292	21	122
Depreciation Expense	68	72	84	99	112	119	134	145	165	179	195
Amortization Expense	-43	-25	-28	21	14	57	15	23	-49	-36	-19
Non-Cash Adjustments to Reconcile Net Income	64	5.48	-273	201	149	127	104	432	63	-40	108
Changes in Operating Assets and Liabilities, net	256	-1,209	-580	-349	-791	2,695	5,011	-2,148	-5,724	-37	-107
Net Cash From Investing Activities	-2,177	-2,918	-3,376	-3,476	-1,897	-4,985	-5,140	-7,151	-274	-968	-4,321
Net Cash From Continuing Investing Activities	-2,177	-2,918	-3,376	-3,476	-1,897	-4,985	-5,140	-7,151	-274	-968	-4,321
Purchase of Property, Leasehold Improvements and Equipment	-74	-122	-190	-134	-138	-124	-74	-91	-173	-205	-188
Purchase of Investment Securities	-2,306	-3,101	-3,987	-4,101	-2,638	-6,900	-8,237	-10,498	-2,017	-3,188	-6,443
Sale and/or Maturity of Investments	204	305	801	759	879	2,044	3,437	1,977	1,942	2,425	2,299
Other Investing Activities, net	-	-	-	-	-	-	-	-	-26	0.00	11
Net Cash From Financing Activities	1,730	2,540	4,065	1,420	1,373	4,574	5,232	5,879	1,438	438	2,361
Net Cash From Continuing Financing Activities	1,730	2,540	4,065	1,420	1,373	4,574	5,232	5,879	1,438	438	2,361
Net Change in Deposits	1,891	2,343	3,470	2,210	2,339	4,520	5,694	6,269	2,842	1,811	2,887
Issuance of Debt	550	817	2,068	1,150	1,150	1,344	737	1,025	3,200	1,300	2,230
Issuance of Common Equity	48	43	57	63	65	62	53	52	46	46	31
Repayment of Debt	-544	-369	-1,342	-1,765	-1,155	-855	-875	-967	-3,391	-1,350	-1,098
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	0.00	-40	0.00	0.00
Repurchase of Common Equity	-89	-163	-34	-62	-778	-291	-150	-216	-862	-984	-1,267
Payment of Dividends	-103	-113	-127	-151	-191	-205	-218	-277	-355	-383	-416
Other Financing Activities, Net	-24	-17	-27	-25	-57	-1.00	-9.00	-7.00	-2.00	-2.00	-6.00
Effect of Exchange Rate Changes	-50	0.19	47	-33	-23	1.00	76	-590	239	175	-35
Cash Interest Paid	106	114	156	201	283	164	145	323	1,310	2,119	1,853
Cash Income Taxes Paid	379	304	349	231	390	246	437	524	565	664	651

This table details how cash moves in and out of Raymond James Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	334	1,389	-231	-970	1,612	-768	-493	-122	1,822	-1,217	1,394
Net Cash From Operating Activities	434	543	391	711	510	830	117	691	796	-10	1,099
Net Cash From Continuing Operating Activities	434	543	391	711	510	830	117	691	796	-10	1,099
Net Income / (Loss) Continuing Operations	434	498	476	492	602	600	495	436	604	563	544
Consolidated Net Income / (Loss)	434	498	476	492	602	600	495	436	604	563	544
Provision For Loan Losses	101	7.00	-7.00	-	21	7.00	17	83	15	2.00	19
Depreciation Expense	42	42	45	45	47	47	47	49	52	49	50
Amortization Expense	-12	-12	-5.00	-13	-6.00	-4.00	3.00	-18	-	1.00	-4.00
Non-Cash Adjustments to Reconcile Net Income	68	-14	-23	54	-98	159	86	-95	-42	108	174
Changes in Operating Assets and Liabilities, net	-199	22	-95	133	-56	21	-531	236	167	-733	316
Net Cash From Investing Activities	-342	-176	67	-648	-211	-937	-659	-1,302	-1,423	-1,865	-1,337
Net Cash From Continuing Investing Activities	-342	-176	67	-648	-211	-937	-659	-1,302	-1,423	-1,865	-1,337
Purchase of Property, Leasehold Improvements and Equipment	-51	-50	-49	-56	-50	-41	-46	-57	-44	-46	-45
Purchase of Investment Securities	-653	-497	-410	-1,311	-970	-1,542	-1,092	-1,955	-1,854	-2,260	-1,810
Sale and/or Maturity of Investments	362	371	526	719	809	646	470	711	472	441	610
Net Cash From Financing Activities	349	907	-641	-1,022	1,194	-447	-16	292	2,532	629	1,690
Net Cash From Continuing Financing Activities	349	907	-641	-1,022	1,194	-447	-16	292	2,532	629	1,690
Net Change in Deposits	431	1,194	-550	-442	1,609	-160	553	846	1,648	1,255	2,271
Issuance of Debt	650	750	200	350	-	450	-	300	1,480	250	50
Issuance of Common Equity	9.00	10	18	9.00	9.00	10	9.00	7.00	5.00	9.00	14
Repayment of Debt	-650	-750	-	-600	-	-450	-200	-300	-148	-250	-50
Repurchase of Common Equity	-2.00	-199	-213	-243	-329	-185	-	-	-353	-513	-405
Payment of Dividends	-89	-97	-96	-95	-95	-105	-106	-103	-102	-112	-109
Effect of Exchange Rate Changes	-107	115	-48	-11	119	-214	65	197	-83	29	-58
Cash Interest Paid	452	499	550	526	544	499	449	446	459	423	422
Cash Income Taxes Paid	29	24	349	175	116	9.00	364	137	141	19	256

This table presents Raymond James Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	26,468	31,487	34,883	37,413	38,830	47,482	61,891	80,951	78,360	82,992	88,230
Cash and Due from Banks	2,601	1,650	3,670	3,500	3,957	5,390	7,201	6,178	9,313	10,998	11,389
Restricted Cash	2,905	4,884	3,476	2,441	2,014	4,244	11,348	8,481	3,235	3,350	3,398
Trading Account Securities	1,536	2,340	3,726	4,206	4,730	9,023	9,660	11,343	10,633	9,843	8,494
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customer and Other Receivables	2,674	3,554	3,640	4,268	3,654	3,447	3,888	2,934	2,525	2,711	2,821
Intangible Assets	377	503	493	639	611	600	882	1,931	1,907	1,886	1,847
Other Assets	16,119	18,234	19,441	21,873	23,337	24,778	28,912	50,084	50,747	54,204	60,281
Total Liabilities & Shareholders' Equity	26,468	31,487	34,883	37,413	38,830	47,482	61,891	80,951	78,360	82,992	88,230
Total Liabilities	21,682	26,424	29,190	30,961	32,187	40,306	53,588	71,519	68,173	71,325	75,726
Non-Interest Bearing Deposits	11,920	14,263	17,732	19,942	22,281	26,801	32,495	51,357	54,199	56,010	58,897
Short-Term Debt	5,871	8,028	7,676	7,163	6,041	7,042	15,354	13,267	7,037	7,098	6,743
Other Short-Term Payables	1,572	1,455	1,627	1,648	2,019	-	3,526	3,555	3,845	4,263	4,564
Long-Term Debt	1,642	2,358	1,933	1,973	1,550	2,933	2,037	2,038	2,039	2,040	3,520
Other Long-Term Liabilities	677	320	221	235	296	3,530	176	1,302	1,053	1,914	2,002
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,786	5,063	5,693	6,452	6,643	7,176	8,303	9,432	10,187	11,667	12,504
Total Preferred & Common Equity	4,522	4,917	5,582	6,368	6,581	7,114	8,245	9,458	10,214	11,673	12,503
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	120	79	79	79
Total Common Equity	4,522	4,917	5,582	6,368	6,581	7,114	8,245	9,338	10,135	11,594	12,424
Common Stock	1,346	1,500	1,647	1,810	1,940	2,009	2,090	2,989	3,145	3,253	3,238
Retained Earnings	3,420	3,835	4,340	5,032	5,874	6,484	7,633	8,843	10,213	11,894	13,604
Treasury Stock	-203	-363	-390	-447	-1,210	-1,390	-1,437	-1,512	-2,252	-3,051	-4,022
Accumulated Other Comprehensive Income / (Loss)	-41	-56	-15	-27	-23	11	-41	-982	-971	-502	-396
Noncontrolling Interest	264	146	112	84	62	62	58	-26	-27	-6.00	1.00

This table presents Raymond James Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	77,633	78,360	80,130	81,232	80,628	82,992	82,282	83,132	84,815	88,760	91,944
Cash and Due from Banks	8,375	9,313	10,206	10,001	9,095	10,998	10,048	9,662	9,195	9,890	11,219
Restricted Cash	3,839	3,235	3,731	3,705	3,641	3,350	3,532	3,425	3,770	3,680	3,745
Trading Account Securities	10,951	10,633	10,496	10,671	10,087	9,843	9,277	9,059	8,587	8,248	7,907
Loans and Leases, Net of Allowance	43,345	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customer and Other Receivables	2,364	2,525	2,382	2,782	2,798	2,711	2,650	2,787	2,917	2,961	3,300
Intangible Assets	1,928	1,907	1,908	1,894	1,884	1,886	1,858	1,855	1,860	1,838	1,983
Other Assets	5,709	50,747	51,407	52,179	53,123	54,204	54,917	56,344	58,486	62,143	63,790
Total Liabilities & Shareholders' Equity	77,633	78,360	80,130	81,232	80,628	82,992	82,282	83,132	84,815	88,760	91,944
Total Liabilities	67,711	68,173	69,349	70,253	69,438	71,325	70,353	70,905	72,554	76,186	79,334
Non-Interest Bearing Deposits	53,768	54,199	55,393	54,843	54,401	56,010	55,850	56,403	57,249	60,152	62,423
Short-Term Debt	7,528	7,037	7,202	7,702	6,892	7,098	7,081	6,967	7,274	6,965	7,505
Other Short-Term Payables	3,427	3,845	3,405	3,810	4,061	4,263	3,779	3,745	4,188	3,783	4,017
Long-Term Debt	2,039	2,039	2,039	2,039	2,039	2,040	2,040	2,040	2,040	3,521	3,521
Other Long-Term Liabilities	949	1,053	1,310	1,859	2,045	1,914	1,603	1,750	1,803	1,765	1,868
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,922	10,187	10,781	10,979	11,190	11,667	11,929	12,227	12,261	12,574	12,610
Total Preferred & Common Equity	9,949	10,214	10,790	10,984	11,197	11,673	11,923	12,212	12,259	12,570	12,567
Preferred Stock	79	79	79	79	79	79	79	79	79	79	0.00
Total Common Equity	9,870	10,135	10,711	10,905	11,118	11,594	11,844	12,133	12,180	12,491	12,567
Common Stock	3,101	3,145	3,160	3,188	3,223	3,253	3,128	3,154	3,205	3,109	3,159
Retained Earnings	9,870	10,213	10,609	10,988	11,385	11,894	12,378	12,769	13,104	14,051	14,487
Treasury Stock	-2,259	-2,252	-2,365	-2,547	-2,773	-3,051	-3,007	-3,244	-3,691	-4,321	-4,711
Accumulated Other Comprehensive Income / (Loss)	-842	-971	-693	-724	-717	-502	-655	-546	-438	-348	-368
Noncontrolling Interest	-27	-27	-9.00	-5.00	-7.00	-6.00	6.00	15	2.00	4.00	43

This table displays calculated financial ratios and metrics derived from Raymond James Financial's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.04%	3.87%	17.87%	14.17%	6.41%	3.23%	22.15%	12.74%	5.60%	10.35%	9.70%
EBITDA Growth	10.97%	2.25%	14.16%	45.87%	4.89%	-33.71%	98.19%	5.98%	8.33%	23.06%	3.73%
EBIT Growth	13.78%	-0.33%	13.92%	41.73%	4.88%	-40.44%	122.59%	5.43%	11.76%	23.04%	2.69%
NOPAT Growth	15.72%	4.26%	17.64%	34.75%	20.65%	-20.89%	71.52%	7.56%	15.24%	18.92%	3.24%
Net Income Growth	15.72%	4.26%	17.64%	34.75%	20.65%	-20.89%	71.52%	7.56%	15.24%	18.92%	3.24%
EPS Growth	3.31%	6.41%	18.63%	32.79%	20.65%	-20.89%	70.88%	5.28%	14.18%	21.71%	6.19%
Operating Cash Flow Growth	77.05%	-163.79%	78.20%	807.20%	-34.73%	605.89%	63.20%	-98.92%	-4,980.56%	161.33%	12.95%
Free Cash Flow Firm Growth	-146.55%	-318.98%	130.00%	-27.00%	317.77%	-187.90%	-240.16%	134.54%	192.50%	-92.71%	-67.11%
Invested Capital Growth	10.23%	25.62%	-0.95%	1.87%	-8.69%	20.49%	49.81%	-3.72%	-22.13%	8.01%	9.43%
Revenue Q/Q Growth	1.15%	2.18%	3.75%	2.96%	193.29%	-38.11%	6.74%	1.25%	1.95%	3.30%	1.92%
EBITDA Q/Q Growth	4.51%	-0.21%	4.47%	7.39%	143.31%	-84.20%	20.91%	-2.84%	-6.45%	7.15%	-0.62%
EBIT Q/Q Growth	4.33%	0.48%	4.09%	5.71%	138.13%	-86.63%	22.60%	-2.24%	-7.05%	7.09%	-1.06%
NOPAT Q/Q Growth	6.63%	3.20%	2.62%	8.70%	140.96%	-86.02%	16.72%	1.96%	-0.29%	8.27%	0.09%
Net Income Q/Q Growth	6.63%	3.20%	2.62%	8.70%	126.21%	-86.02%	18.60%	0.67%	-0.29%	8.84%	0.09%
EPS Q/Q Growth	-1.72%	8.96%	3.34%	8.49%	126.21%	-86.02%	15.30%	-1.69%	-20.54%	-0.51%	1.08%
Operating Cash Flow Q/Q Growth	72.34%	-245.71%	-115.72%	171.92%	3.22%	22.20%	86.56%	-99.21%	58.39%	3.66%	13.31%
Free Cash Flow Firm Q/Q Growth	-148.10%	-199.72%	167.72%	-32.86%	201.41%	-157.76%	-53.52%	130.15%	-50.50%	-58.84%	-74.52%
Invested Capital Q/Q Growth	5.58%	18.45%	3.26%	5.64%	-2.42%	2.07%	13.40%	-23.46%	-1.16%	3.40%	5.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	16.15%	15.90%	15.40%	19.67%	19.39%	12.45%	20.20%	18.99%	19.49%	21.73%	20.55%
EBIT Margin	15.65%	15.02%	14.52%	18.02%	17.76%	10.25%	18.68%	17.47%	18.49%	20.61%	19.30%
Profit (Net Income) Margin	9.97%	10.00%	9.98%	11.78%	13.36%	10.24%	14.38%	13.71%	14.97%	16.13%	15.18%
Tax Burden Percent	63.66%	66.59%	68.76%	65.37%	75.20%	77.76%	78.34%	74.63%	76.27%	78.24%	78.67%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	128.45%	98.24%	105.20%	106.15%	100.00%	100.00%
Effective Tax Rate	36.34%	33.41%	31.24%	34.63%	24.80%	22.24%	21.66%	25.37%	23.73%	21.76%	21.33%
Return on Invested Capital (ROIC)	4.42%	3.90%	4.14%	5.55%	6.93%	5.21%	6.55%	5.98%	7.90%	10.32%	9.80%
ROIC Less NNEP Spread (ROIC-NNEP)	4.42%	3.90%	4.14%	5.55%	6.93%	5.21%	6.55%	5.98%	7.90%	10.32%	9.80%
Return on Net Nonoperating Assets (RNNOA)	6.83%	7.08%	7.69%	8.56%	8.86%	6.63%	11.58%	11.03%	9.82%	8.60%	7.87%
Return on Equity (ROE)	11.25%	10.98%	11.83%	14.11%	15.79%	11.84%	18.13%	17.02%	17.73%	18.93%	17.67%
Cash Return on Invested Capital (CROIC)	-5.31%	-18.81%	5.09%	3.70%	16.02%	-13.38%	-33.33%	9.78%	32.79%	2.63%	0.79%
Operating Return on Assets (OROA)	3.27%	2.80%	2.79%	3.63%	3.61%	1.90%	3.33%	2.69%	2.70%	3.28%	3.17%
Return on Assets (ROA)	2.08%	1.87%	1.92%	2.37%	2.71%	1.90%	2.57%	2.11%	2.18%	2.56%	2.49%
Return on Common Equity (ROCE)	10.57%	10.52%	11.54%	13.89%	15.62%	11.73%	17.99%	16.87%	17.60%	18.82%	17.55%
Return on Equity Simple (ROE_SIMPLE)	11.47%	11.00%	11.39%	13.46%	15.71%	11.50%	17.02%	15.95%	17.03%	17.72%	17.08%
Net Operating Profit after Tax (NOPAT)	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068	2,135
NOPAT Margin	9.97%	10.00%	9.98%	11.78%	13.36%	10.24%	14.38%	13.71%	14.97%	16.13%	15.18%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	79.06%	78.08%	76.46%	76.02%	75.87%	77.81%	75.37%	75.19%	72.39%	73.54%	74.11%
Operating Expenses to Revenue	84.35%	84.98%	85.48%	81.98%	82.24%	86.83%	81.65%	81.62%	80.38%	79.39%	80.70%
Earnings before Interest and Taxes (EBIT)	815	812	925	1,311	1,375	819	1,823	1,922	2,148	2,643	2,714
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	840	859	981	1,431	1,501	995	1,972	2,090	2,264	2,786	2,890
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.38	1.49	1.96	1.92	1.61	1.33	2.21	2.21	2.04	2.17	2.76
Price to Tangible Book Value (P/TBV)	1.51	1.66	2.15	2.14	1.78	1.45	2.47	2.79	2.51	2.59	3.24
Price to Revenue (P/Rev)	1.20	1.36	1.72	1.68	1.37	1.18	1.87	1.88	1.78	1.96	2.44
Price to Earnings (P/E)	12.45	13.84	17.22	14.29	10.27	11.55	12.98	13.73	11.92	12.18	16.11
Dividend Yield	1.66%	1.55%	1.45%	1.31%	1.78%	2.15%	1.17%	1.42%	1.70%	1.45%	1.13%
Earnings Yield	8.03%	7.23%	5.81%	7.00%	9.74%	8.66%	7.70%	7.28%	8.39%	8.21%	6.21%
Enterprise Value to Invested Capital (EV/IC)	0.69	0.73	0.88	1.00	0.86	0.57	0.67	0.87	0.90	0.96	1.31
Enterprise Value to Revenue (EV/Rev)	1.64	2.09	2.12	2.13	1.59	1.23	1.75	1.95	1.48	1.56	2.12
Enterprise Value to EBITDA (EV/EBITDA)	10.14	13.18	13.79	10.85	8.20	9.90	8.68	10.24	7.62	7.18	10.34
Enterprise Value to EBIT (EV/EBIT)	10.46	13.95	14.63	11.84	8.95	12.03	9.39	11.14	8.03	7.56	11.01
Enterprise Value to NOPAT (EV/NOPAT)	16.43	20.94	21.27	18.12	11.90	12.04	12.20	14.19	9.92	9.67	13.99
Enterprise Value to Operating Cash Flow (EV/OCF)	9.48	0.00	0.00	17.56	21.32	2.42	2.58	297.29	0.00	9.28	12.27
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	17.28	27.16	5.15	0.00	0.00	8.68	2.39	38.00	172.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.57	2.05	1.69	1.42	1.14	1.39	2.09	1.62	0.89	0.78	0.82
Long-Term Debt to Equity	0.34	0.47	0.34	0.31	0.23	0.41	0.25	0.22	0.20	0.17	0.28
Financial Leverage	1.54	1.82	1.86	1.54	1.28	1.27	1.77	1.84	1.24	0.83	0.80
Leverage Ratio	5.40	5.88	6.17	5.95	5.82	6.25	7.07	8.05	8.12	7.38	7.08
Compound Leverage Factor	5.40	5.88	6.17	5.95	5.82	8.02	6.94	8.47	8.62	7.38	7.08
Debt to Total Capital	61.09%	67.23%	62.79%	58.61%	53.33%	58.16%	67.69%	61.87%	47.12%	43.92%	45.08%
Short-Term Debt to Total Capital	47.73%	51.96%	50.16%	45.95%	42.44%	41.06%	59.76%	53.63%	36.53%	34.12%	29.62%
Long-Term Debt to Total Capital	13.35%	15.26%	12.63%	12.66%	10.89%	17.10%	7.93%	8.24%	10.59%	9.81%	15.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.49%	0.41%	0.38%	0.35%
Noncontrolling Interests to Total Capital	2.15%	0.95%	0.73%	0.54%	0.44%	0.36%	0.23%	-0.11%	-0.14%	-0.03%	0.00%
Common Equity to Total Capital	36.77%	31.82%	36.48%	40.85%	46.23%	41.48%	32.09%	37.75%	52.61%	55.73%	54.57%
Debt to EBITDA	8.94	12.09	9.80	6.38	5.06	10.03	8.82	7.32	4.01	3.28	3.55
Net Debt to EBITDA	2.39	4.48	2.51	2.23	1.08	0.34	-0.59	0.31	-1.53	-1.87	-1.57
Long-Term Debt to EBITDA	1.95	2.74	1.97	1.38	1.03	2.95	1.03	0.98	0.90	0.73	1.22
Debt to NOPAT	14.49	19.21	15.11	10.66	7.34	12.19	12.40	10.14	5.22	4.42	4.81
Net Debt to NOPAT	3.87	7.12	3.87	3.73	1.57	0.42	-0.83	0.43	-2.00	-2.52	-2.12
Long-Term Debt to NOPAT	3.17	4.36	3.04	2.30	1.50	3.59	1.45	1.35	1.17	0.99	1.65
Noncontrolling Interest Sharing Ratio	6.03%	4.17%	2.40%	1.61%	1.11%	0.90%	0.78%	0.86%	0.74%	0.57%	0.63%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-623	-2,610	783	572	2,388	-2,099	-7,140	2,466	7,213	526	173
Operating Cash Flow to CapEx	1,212.63%	-470.96%	-65.79%	659.70%	418.12%	3,284.68%	8,982.43%	79.12%	-2,031.21%	1,051.22%	1,294.68%
Free Cash Flow to Firm to Interest Expense	-5.87	-22.49	5.08	2.83	8.44	-11.79	-47.60	8.09	5.25	0.00	0.00
Operating Cash Flow to Interest Expense	8.47	-4.94	-0.81	4.38	2.04	22.88	44.31	0.24	-2.56	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	7.77	-5.99	-2.05	3.71	1.55	22.19	43.82	-0.06	-2.69	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.19	0.19	0.20	0.20	0.19	0.18	0.15	0.15	0.16	0.16
Fixed Asset Turnover	20.76	18.72	16.79	15.76	15.28	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,299	15,450	15,303	15,588	14,234	17,151	25,694	24,737	19,263	20,805	22,767
Invested Capital Turnover	0.44	0.39	0.41	0.47	0.52	0.51	0.46	0.44	0.53	0.64	0.65
Increase / (Decrease) in Invested Capital	1,142	3,151	-147	285	-1,354	2,917	8,543	-957	-5,474	1,542	1,962
Enterprise Value (EV)	8,521	11,323	13,530	15,526	12,303	9,852	17,116	21,405	17,244	19,990	29,870
Market Capitalization	6,250	7,324	10,955	12,247	10,621	9,449	18,216	20,665	20,664	25,127	34,314
Book Value per Share	$31.41	$34.70	$38.71	$43.65	$47.40	$51.87	$60.10	$43.27	$48.53	$56.30	$62.31
Tangible Book Value per Share	$28.79	$31.15	$35.29	$39.27	$43.00	$47.49	$53.67	$34.32	$39.40	$47.14	$53.05
Total Capital	12,299	15,450	15,303	15,588	14,234	17,151	25,694	24,737	19,263	20,805	22,767
Total Debt	7,513	10,387	9,609	9,136	7,591	9,975	17,391	15,305	9,076	9,138	10,263
Total Long-Term Debt	1,642	2,358	1,933	1,973	1,550	2,933	2,037	2,038	2,039	2,040	3,520
Net Debt	2,007	3,852	2,463	3,195	1,620	341	-1,158	646	-3,472	-5,210	-4,524
Capital Expenditures (CapEx)	74	122	190	134	138	124	74	91	173	205	188
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	7,513	10,387	9,609	9,136	7,591	9,975	17,391	15,305	9,076	9,138	10,263
Total Depreciation and Amortization (D&A)	26	47	56	120	126	176	149	168	116	143	176
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.34	$2.48	$2.95	$3.93	$4.88	$3.96	$6.81	$7.16	$8.16	$9.94	$10.53
Adjusted Weighted Average Basic Shares Outstanding	213.82M	212.66M	214.91M	217.91M	211.50M	206.40M	205.70M	209.90M	211.80M	207.10M	202M
Adjusted Diluted Earnings per Share	$2.29	$2.43	$2.89	$3.83	$4.78	$3.89	$6.63	$6.98	$7.97	$9.70	$10.30
Adjusted Weighted Average Diluted Shares Outstanding	218.91M	216.77M	219.97M	223.26M	216M	210.30M	211.20M	215.30M	216.90M	212.30M	206.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.88	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	214.72M	212.96M	216.60M	214.93M	208.08M	205.40M	206.16M	215.06M	208.61M	204.04M	196.67M
Normalized Net Operating Profit after Tax (NOPAT)	534	587	689	873	1,062	854	1,403	1,509	1,739	2,103	2,164
Normalized NOPAT Margin	10.25%	10.85%	10.81%	12.00%	13.72%	10.69%	14.38%	13.71%	14.97%	16.40%	15.39%
Pre Tax Income Margin	15.65%	15.02%	14.52%	18.02%	17.76%	13.17%	18.35%	18.38%	19.62%	20.61%	19.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.68	7.00	6.01	6.49	4.86	4.60	12.15	6.30	1.56	0.00	0.00
NOPAT to Interest Expense	4.89	4.66	4.13	4.24	3.65	4.60	9.35	4.95	1.27	0.00	0.00
EBIT Less CapEx to Interest Expense	6.98	5.95	4.77	5.83	4.37	3.90	11.66	6.00	1.44	0.00	0.00
NOPAT Less CapEx to Interest Expense	4.19	3.61	2.90	3.58	3.17	3.90	8.86	4.65	1.14	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.89%	20.98%	19.97%	17.62%	18.47%	25.06%	15.54%	18.36%	20.41%	18.52%	19.48%
Augmented Payout Ratio	36.96%	51.04%	25.31%	24.85%	93.71%	60.64%	26.23%	32.67%	69.98%	66.10%	78.83%

This table displays calculated financial ratios and metrics derived from Raymond James Financial's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	197,091,037.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	197,091,037.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.76
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.84%	8.15%	8.53%	11.04%	13.40%	17.39%	9.14%	5.27%	7.65%	-	13.40%
EBITDA Growth	-3.76%	-3.08%	10.75%	49.13%	30.24%	20.00%	11.09%	-12.13%	-2.25%	-	8.32%
EBIT Growth	-5.03%	-3.37%	9.34%	51.39%	29.91%	18.89%	10.18%	-12.58%	-3.82%	-	9.54%
NOPAT Growth	-1.14%	-2.16%	11.48%	36.04%	36.41%	20.48%	3.99%	-11.38%	0.33%	-	9.90%
Net Income Growth	-1.14%	-2.16%	11.48%	33.33%	38.71%	20.48%	3.99%	-11.38%	0.33%	-	9.90%
EPS Growth	-85.58%	0.87%	15.03%	35.09%	850.00%	23.28%	6.31%	-8.23%	3.86%	-	15.25%
Operating Cash Flow Growth	109.65%	117.32%	162.66%	478.19%	17.51%	52.85%	-70.08%	-2.81%	56.08%	-	839.32%
Free Cash Flow Firm Growth	323.21%	-83.73%	-95.64%	-100.99%	-116.08%	-125.57%	-103.10%	-627.14%	-44.47%	-	-9,678.95%
Invested Capital Growth	-22.13%	-5.55%	-0.65%	3.24%	8.01%	5.13%	2.48%	7.23%	9.43%	-	11.31%
Revenue Q/Q Growth	5.02%	-1.31%	3.48%	3.53%	7.25%	2.17%	-3.79%	-0.15%	9.68%	-	3.32%
EBITDA Q/Q Growth	33.70%	7.32%	-1.67%	5.70%	16.76%	-1.12%	-8.96%	-17.61%	31.82%	-	0.39%
EBIT Q/Q Growth	35.42%	7.69%	-3.33%	7.39%	16.21%	-1.45%	-10.41%	-16.10%	29.84%	-	0.96%
NOPAT Q/Q Growth	17.62%	14.75%	-4.42%	5.46%	17.93%	1.35%	-17.50%	-11.92%	38.53%	-	-3.37%
Net Income Q/Q Growth	17.62%	14.75%	-4.42%	3.36%	22.36%	-0.33%	-17.50%	-11.92%	38.53%	-	-3.37%
EPS Q/Q Growth	-82.46%	673.33%	-4.31%	4.05%	23.38%	0.35%	-17.48%	-10.17%	39.62%	-	-2.51%
Operating Cash Flow Q/Q Growth	330.85%	25.12%	-27.99%	81.84%	-28.27%	62.75%	-85.90%	490.60%	15.20%	-	11,090.00%
Free Cash Flow Firm Q/Q Growth	-55.23%	-71.67%	-63.44%	-121.24%	-630.77%	54.95%	95.56%	-5,257.89%	-33.40%	-	-28.40%
Invested Capital Q/Q Growth	-1.16%	3.94%	3.49%	-2.89%	3.40%	1.18%	0.87%	1.61%	5.52%	-	2.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	20.14%	21.91%	20.81%	21.25%	23.14%	22.39%	21.19%	17.48%	21.01%	-	20.24%
EBIT Margin	19.16%	20.91%	19.53%	20.26%	21.95%	21.18%	19.72%	16.57%	19.61%	-	19.05%
Profit (Net Income) Margin	14.22%	16.53%	15.27%	15.24%	17.39%	16.96%	14.55%	12.83%	16.21%	-	14.10%
Tax Burden Percent	74.19%	79.05%	78.16%	75.23%	80.27%	80.11%	73.77%	77.44%	82.63%	-	74.01%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	98.68%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Effective Tax Rate	25.81%	20.95%	21.84%	23.24%	21.07%	19.89%	26.23%	22.56%	17.37%	-	25.99%
Return on Invested Capital (ROIC)	7.51%	9.50%	8.88%	9.75%	10.94%	11.02%	9.45%	8.49%	10.46%	-	9.25%
ROIC Less NNEP Spread (ROIC-NNEP)	7.51%	9.50%	8.88%	9.64%	11.05%	11.02%	9.45%	8.49%	10.46%	-	9.25%
Return on Net Nonoperating Assets (RNNOA)	9.33%	9.50%	8.74%	8.44%	9.21%	8.91%	7.64%	6.61%	8.40%	-	7.46%
Return on Equity (ROE)	16.84%	19.00%	17.62%	18.19%	20.16%	19.94%	17.09%	15.10%	18.86%	-	16.71%
Cash Return on Invested Capital (CROIC)	32.79%	14.09%	9.20%	6.45%	2.63%	5.56%	7.98%	3.26%	0.79%	-	-1.14%
Operating Return on Assets (OROA)	2.80%	3.15%	2.94%	3.18%	3.49%	3.48%	3.27%	2.76%	3.22%	-	3.20%
Return on Assets (ROA)	2.07%	2.49%	2.30%	2.39%	2.76%	2.79%	2.41%	2.14%	2.66%	-	2.37%
Return on Common Equity (ROCE)	16.71%	18.85%	17.48%	18.08%	20.04%	19.80%	16.96%	15.00%	18.74%	-	16.62%
Return on Equity Simple (ROE_SIMPLE)	0.00%	16.01%	16.18%	16.97%	0.00%	18.20%	17.93%	17.40%	0.00%	-	17.08%
Net Operating Profit after Tax (NOPAT)	434	498	476	502	592	600	495	436	604	-	544
NOPAT Margin	14.22%	16.53%	15.27%	15.55%	17.10%	16.96%	14.55%	12.83%	16.21%	-	14.10%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.11%	-0.11%	0.00%	0.00%	0.00%	0.00%	-	0.00%
SG&A Expenses to Revenue	71.57%	73.15%	75.08%	74.44%	71.63%	73.25%	74.23%	74.96%	74.03%	-	75.20%
Operating Expenses to Revenue	80.84%	79.09%	80.47%	80.05%	78.05%	78.82%	80.28%	83.43%	80.39%	-	80.95%
Earnings before Interest and Taxes (EBIT)	585	630	609	654	760	749	671	563	731	-	735
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	615	660	649	686	801	792	721	594	783	-	781
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.04	2.14	2.45	2.30	2.17	2.67	2.34	2.53	2.76	-	2.26
Price to Tangible Book Value (P/TBV)	2.51	2.61	2.97	2.76	2.59	3.16	2.76	2.99	3.24	-	2.69
Price to Revenue (P/Rev)	1.78	1.94	2.21	2.06	1.96	2.37	2.08	2.23	2.44	-	1.93
Price to Earnings (P/E)	11.92	13.33	15.09	12.66	12.18	14.59	12.99	14.49	16.11	-	13.27
Dividend Yield	1.70%	1.56%	1.36%	1.41%	1.45%	1.16%	1.34%	1.24%	1.13%	-	1.41%
Earnings Yield	8.39%	7.50%	6.63%	7.90%	8.21%	6.85%	7.70%	6.90%	6.21%	-	7.53%
Enterprise Value to Invested Capital (EV/IC)	0.90	0.92	1.10	1.08	0.96	1.29	1.15	1.26	1.31	-	1.04
Enterprise Value to Revenue (EV/Rev)	1.48	1.55	1.89	1.76	1.56	2.04	1.79	1.98	2.12	-	1.67
Enterprise Value to EBITDA (EV/EBITDA)	7.62	7.72	9.37	8.38	7.18	9.33	8.15	9.38	10.34	-	8.36
Enterprise Value to EBIT (EV/EBIT)	8.03	8.12	9.89	8.83	7.56	9.85	8.63	9.94	11.01	-	8.90
Enterprise Value to NOPAT (EV/NOPAT)	9.92	10.61	12.86	11.41	9.67	12.54	11.14	12.79	13.99	-	11.43
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	111.12	19.37	10.48	9.28	11.15	11.24	12.70	12.27	-	9.52
Enterprise Value to Free Cash Flow (EV/FCFF)	2.39	6.31	11.95	17.05	38.00	23.83	14.55	40.17	172.66	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.89	0.86	0.89	0.80	0.78	0.76	0.74	0.76	0.82	-	0.87
Long-Term Debt to Equity	0.20	0.19	0.19	0.18	0.17	0.17	0.17	0.17	0.28	-	0.28
Financial Leverage	1.24	1.00	0.98	0.88	0.83	0.81	0.81	0.78	0.80	-	0.81
Leverage Ratio	8.12	7.63	7.66	7.50	7.38	7.15	7.08	7.05	7.08	-	7.05
Compound Leverage Factor	8.12	7.63	7.66	7.50	7.29	7.15	7.08	7.05	7.08	-	7.05
Debt to Total Capital	47.12%	46.15%	47.01%	44.39%	43.92%	43.33%	42.42%	43.17%	45.08%	-	46.65%
Short-Term Debt to Total Capital	36.53%	35.97%	37.17%	34.25%	34.12%	33.64%	32.81%	33.71%	29.62%	-	31.75%
Long-Term Debt to Total Capital	10.59%	10.18%	9.84%	10.13%	9.81%	9.69%	9.61%	9.46%	15.46%	-	14.90%
Preferred Equity to Total Capital	0.41%	0.39%	0.38%	0.39%	0.38%	0.38%	0.37%	0.37%	0.35%	-	0.00%
Noncontrolling Interests to Total Capital	-0.14%	-0.05%	-0.02%	-0.03%	-0.03%	0.03%	0.07%	0.01%	0.00%	-	0.18%
Common Equity to Total Capital	52.61%	53.50%	52.63%	55.26%	55.73%	56.27%	57.14%	56.45%	54.57%	-	53.17%
Debt to EBITDA	4.01	3.89	4.00	3.44	3.28	3.13	3.01	3.20	3.55	-	3.76
Net Debt to EBITDA	-1.53	-1.98	-1.63	-1.46	-1.87	-1.53	-1.36	-1.26	-1.57	-	-1.34
Long-Term Debt to EBITDA	0.90	0.86	0.84	0.78	0.73	0.70	0.68	0.70	1.22	-	1.20
Debt to NOPAT	5.22	5.35	5.48	4.68	4.42	4.20	4.11	4.37	4.81	-	5.14
Net Debt to NOPAT	-2.00	-2.72	-2.23	-1.99	-2.52	-2.05	-1.86	-1.71	-2.12	-	-1.83
Long-Term Debt to NOPAT	1.17	1.18	1.15	1.07	0.99	0.94	0.93	0.96	1.65	-	1.64
Noncontrolling Interest Sharing Ratio	0.74%	0.80%	0.80%	0.59%	0.57%	0.68%	0.72%	0.65%	0.63%	-	0.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	5,908	1,674	612	-130	-950	-428	-19	-1,018	-1,358	-	-1,858
Operating Cash Flow to CapEx	850.98%	1,086.00%	797.96%	1,269.64%	1,020.00%	2,024.39%	254.35%	1,212.28%	1,809.09%	-	2,442.22%
Free Cash Flow to Firm to Interest Expense	12.79	0.00	1.18	-0.24	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow to Interest Expense	0.94	0.00	0.75	1.33	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.83	0.00	0.66	1.23	0.00	0.00	0.00	0.00	0.00	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.15	0.15	0.16	0.16	0.16	0.17	0.17	0.16	-	0.17
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	19,263	20,022	20,720	20,121	20,805	21,050	21,234	21,575	22,767	-	23,636
Invested Capital Turnover	0.53	0.57	0.58	0.63	0.64	0.65	0.65	0.66	0.65	-	0.66
Increase / (Decrease) in Invested Capital	-5,474	-1,176	-136	632	1,542	1,028	514	1,454	1,962	-	2,402
Enterprise Value (EV)	17,244	18,334	22,855	21,795	19,990	27,218	24,376	27,272	29,870	-	24,535
Market Capitalization	20,664	22,960	26,746	25,528	25,127	31,592	28,362	30,842	34,314	-	28,430
Book Value per Share	$48.53	$51.35	$52.17	$53.64	$56.30	$58.05	$59.21	$60.37	$62.31	-	$63.76
Tangible Book Value per Share	$39.40	$42.20	$43.11	$44.55	$47.14	$48.94	$50.16	$51.15	$53.05	-	$53.70
Total Capital	19,263	20,022	20,720	20,121	20,805	21,050	21,234	21,575	22,767	-	23,636
Total Debt	9,076	9,241	9,741	8,931	9,138	9,121	9,007	9,314	10,263	-	11,026
Total Long-Term Debt	2,039	2,039	2,039	2,039	2,040	2,040	2,040	2,040	3,520	-	3,521
Net Debt	-3,472	-4,696	-3,965	-3,805	-5,210	-4,459	-4,080	-3,651	-4,524	-	-3,938
Capital Expenditures (CapEx)	51	50	49	56	50	41	46	57	44	-	45
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	10	-10	0.00	0.00	0.00	0.00	-	0.00
Net Nonoperating Obligations (NNO)	9,076	9,241	9,741	8,931	9,138	9,121	9,007	9,314	10,263	-	11,026
Total Depreciation and Amortization (D&A)	30	30	40	32	41	43	50	31	52	-	46
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.30	$2.38	$2.27	$2.37	$2.92	$2.94	$2.41	$2.16	$3.02	$2.85	$2.76
Adjusted Weighted Average Basic Shares Outstanding	211.80M	208.60M	208.30M	206.80M	207.10M	203.70M	204.30M	201.20M	202M	197.10M	196.10M
Adjusted Diluted Earnings per Share	$0.30	$2.32	$2.22	$2.31	$2.85	$2.86	$2.36	$2.12	$2.96	$2.79	$2.72
Adjusted Weighted Average Diluted Shares Outstanding	216.90M	213.80M	213.40M	212.30M	212.30M	209.20M	208.70M	205.50M	206.60M	201.40M	199.20M
Adjusted Basic & Diluted Earnings per Share	$0.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	208.61M	209.03M	207.28M	205.94M	204.04M	204.91M	201.75M	199.38M	196.67M	197.09M	194.88M
Normalized Net Operating Profit after Tax (NOPAT)	434	507	492	502	592	600	507	448	609	-	548
Normalized NOPAT Margin	14.22%	16.84%	15.79%	15.55%	17.10%	16.96%	14.89%	13.17%	16.34%	-	14.19%
Pre Tax Income Margin	19.16%	20.91%	19.53%	20.26%	21.66%	21.18%	19.72%	16.57%	19.61%	-	19.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.27	0.00	1.17	1.22	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT to Interest Expense	0.94	0.00	0.92	0.94	0.00	0.00	0.00	0.00	0.00	-	0.00
EBIT Less CapEx to Interest Expense	1.16	0.00	1.08	1.12	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT Less CapEx to Interest Expense	0.83	0.00	0.82	0.84	0.00	0.00	0.00	0.00	0.00	-	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	20.41%	21.47%	21.05%	19.84%	18.52%	18.02%	18.32%	19.17%	19.48%	-	19.84%
Augmented Payout Ratio	69.98%	71.93%	61.34%	54.42%	66.10%	62.72%	18.32%	77.45%	78.83%	-	100.23%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Raymond James Financial (RJF) based on the quarterly data across the last four years. The company shows solid profitability and a strong liquidity position, with a steady dividend, but cash flow can be volatile driven by investing/financing activity and leverage levels.

Net income from continuing operations has remained solid and positive across recent quarters, providing a consistent earnings baseline.
Operating cash flow from continuing operations has been robust in most quarters (examples include Q4 2024, Q3 2025, and Q4 2025), often exceeding several hundred million dollars per quarter.
Dividend per share has been stable, typically in the range of 0.42–0.50 USD, offering a dependable income stream for shareholders.
Balance-sheet liquidity is strong: cash and cash equivalents are typically in the low-to-mid billions, trading account securities are substantial, and non-interest bearing deposits provide durable funding liquidity.
Revenue is diversified across net interest income and non-interest income, with total quarterly revenue generally in the 3.3–3.7 billion range, reflecting a broad income base.
Net cash from continuing operating activities shows quarterly variability, though it remains positive in many periods, reflecting typical working-capital swings for a financial services firm.
Earnings per share and overall quarterly profitability show some volatility due to restatements and seasonal factors, though longer-term trends have been positive.
Total liabilities are high relative to equity, which is common for large bank-style deposit-takers; this provides funding stability but highlights substantial leverage versus equity.
Investing activities can drive negative cash flow in certain quarters as the firm increases investments in securities and other assets.
Non-interest income can be occasionally negative in a quarter, indicating revenue volatility outside traditional lending activities.

05/14/26 08:42 AM ETAI Generated. May Contain Errors.

Raymond James Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Raymond James Financial's financial year ends in September. Their financial year 2025 ended on September 30, 2025.

Raymond James Financial's net income appears to be on an upward trend, with a most recent value of $2.14 billion in 2025, rising from $518.58 million in 2015. The previous period was $2.07 billion in 2024. See Raymond James Financial's forecast for analyst expectations on what's next for the company.

Over the last 10 years, Raymond James Financial's total revenue changed from $5.20 billion in 2015 to $14.07 billion in 2025, a change of 170.3%.

Raymond James Financial's total liabilities were at $75.73 billion at the end of 2025, a 6.2% increase from 2024, and a 249.3% increase since 2015.

In the past 10 years, Raymond James Financial's cash and equivalents has ranged from $1.65 billion in 2016 to $11.39 billion in 2025, and is currently $11.39 billion as of their latest financial filing in 2025.

Over the last 10 years, Raymond James Financial's book value per share changed from 31.41 in 2015 to 62.31 in 2025, a change of 98.4%.

Related Companies

Financial statements for NYSE:RJF last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Raymond James Financial (RJF) Financials

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Raymond James Financial (RJF) Financials

Annual Income Statements for Raymond James Financial

Quarterly Income Statements for Raymond James Financial

Annual Cash Flow Statements for Raymond James Financial

Quarterly Cash Flow Statements for Raymond James Financial

Annual Balance Sheets for Raymond James Financial

Quarterly Balance Sheets for Raymond James Financial

Annual Metrics And Ratios for Raymond James Financial

Quarterly Metrics And Ratios for Raymond James Financial

Financials Breakdown Chart

Key Financial Trends

Raymond James Financial Financials - Frequently Asked Questions

When does Raymond James Financial's fiscal year end?

How has Raymond James Financial's net income changed over the last 10 years?

How has Raymond James Financial's revenue changed over the last 10 years?

How much debt does Raymond James Financial have?

How much cash does Raymond James Financial have?

How has Raymond James Financial's book value per share changed over the last 10 years?

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