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Raymond James Financial, Inc., a diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe. The Private Client Group segment offers financial planning, investment advisory, securities transaction, investment services, portfolio management services, insurance and annuity products, and mutual funds; support to third-party mutual fund and annuity companies, including sales and marketing support, as well as distribution and accounting, and administrative services; margin loans; securities borrowing and lending services; and custodial, trade execution, research, and other support and services. The Capital Markets segment provides investment banking services, such as equity and debt underwriting, and merger and acquisition advisory; and fixed income and equity brokerage services. This segment also offers institutional sales, securities trading, equity research, and the syndication and management of investments in low-income housing funds and funds of a similar nature. The Asset Management segment provides asset management, portfolio management, and related administrative services to retail and institutional clients; and administrative support services, such as record-keeping. The Bank segment offers various types of loans, including securities-based, corporate, commercial and industrial, commercial real estate and construction, real estate investment trust, residential mortgage, and tax-exempt loans; Federal Deposit Insurance Corporation-insured deposit accounts; retail and corporate deposit; and liquidity management products and services. The Other segment engages in the private equity investments comprising investments in third-party funds. The company offers corporate, retail banking and trust services. Raymond James Financial, Inc. was founded in 1962 and is headquartered in Saint Petersburg, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $13.8B | - | $2.1B | $2.2B | 17.2% | 9.5% | 3.2% |
| 2024 | $12.6B | - | $2.1B | $1.9B | 17.8% | 10.2% | 18.9% |
| 2023 | $11.5B | - | $1.7B | $-3.7B | 17.2% | 5.7% | 15.2% |
| 2022 | $10.9B | - | $1.5B | $-19M | 16.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 10,851 | 11,468 | 12,639 | 13,842 |
| Operating Revenue | - | 10,851 | 11,468 | 12,639 | 13,842 |
| Selling General And Administration | - | 7,329 | 7,299 | 8,213 | 9,072 |
| Interest Income | - | 1,508 | 3,748 | 4,232 | 3,994 |
| Interest Expense | - | 305 | 1,373 | 2,102 | 1,847 |
| Net Interest Income | - | 1,203 | 2,375 | 2,130 | 2,147 |
| Pretax Income | - | 2,022 | 2,280 | 2,643 | 2,714 |
| Tax Provision | - | 513 | 541 | 575 | 579 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 1,509 | 1,739 | 2,068 | 2,135 |
| Net Income From Continuing And Discontinued Operation | - | 1,509 | 1,739 | 2,068 | 2,135 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,509 | 1,739 | 2,068 | 2,135 |
| Net Income | - | 1,509 | 1,739 | 2,068 | 2,135 |
| Net Income Common Stockholders | - | 1,502 | 1,728 | 2,059 | 2,127 |
| Net Income Including Noncontrolling Interests | - | 1,509 | 1,739 | 2,068 | 2,135 |
| Normalized Income | - | 1,509 | 1,739 | 2,068 | 2,135 |
| Diluted NI Availto Com Stockholders | - | 1,502 | 1,728 | 2,059 | 2,127 |
| Basic Average Shares | - | 209.90 | 211.80 | 207.10 | 202 |
| Diluted Average Shares | - | 215.30 | 216.90 | 212.30 | 206.60 |
| Reconciled Depreciation | - | 145 | 165 | 179 | 195 |
| Total Unusual Items | -98 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -98 | 0 | 0 | - | - |
| Preferred Stock Dividends | - | 4 | 6 | 5 | 5 |
| Special Income Charges | -98 | 0 | 0 | - | - |
| Restructuring And Mergern Acquisition | 19 | - | - | - | - |
| General And Administrative Expense | - | 7,329 | 7,299 | 8,213 | 9,072 |
| Other Gand A | 540 | 692 | - | - | - |
| Salaries And Wages | - | 7,329 | 7,299 | 8,213 | 9,072 |
| Otherunder Preferred Stock Dividend | - | 3 | 5 | 4 | 3 |
| Occupancy And Equipment | - | 252 | 271 | 296 | 308 |
| Professional Expense And Contract Services Expense | - | 131 | 145 | 150 | 163 |
| Other Non Interest Expense | - | 1,017 | 1,341 | 1,292 | 1,548 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Raymond James Financial, Inc.this co. | RJF | $29.3B | 13.74 | 2.36 | 17.2% | - |
| Huntington Bancshares Incorporated | HBAN | $33.5B | 15.16 | 1.55 | 10.2% | - |
| M&T Bank Corporation | MTB | $32.5B | 11.39 | 1.23 | 10.8% | - |
| Northern Trust Corporation | NTRS | $32.0B | 18.44 | 2.65 | 14.4% | - |
| Arch Capital Group Ltd. | ACGL | $30.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 7.02 |
| 1.32 |
| 18.8% |
| - |
| Cboe Global Markets, Inc. | CBOE | $29.9B | 27.21 | 5.83 | 21.4% | 16.83 |
| Citizens Financial Group, Inc. | CFG | $27.0B | 14.76 | 1.12 | 7.6% | - |
| Cincinnati Financial Corporation | CINF | $24.9B | 10.39 | 1.56 | 15.0% | - |
| W. R. Berkley Corporation | WRB | $24.7B | 13.87 | 2.54 | 18.3% | - |
| Peer Median | - | 14.32 | 1.56 | 14.7% | 16.83 | |