Raymond James Financial (RJF)

Financials · $32.2B market cap · SEC CIK 0000720005

Next reports on Jan 26, 2027, with analysts expecting $3.35 in earnings per share.

52-week range $138.82 to $182.73. 8% below its 52-week high and 21% above its low.

The case for RJF

• Cheap for its growth: 13.6× earnings, where 10%+ a year of growth plus a 1.6% dividend would justify about 25×.
• Revenue growing 10.2% year over year.
• Has compounded revenue at 12.1% a year over five years.
• Return on equity of 18%.
• Gross margin of 88% absorbs cost shocks.
• Pays a modest 1.6% dividend.

The case against

• Weakest against its peers: net margin of 14% is thinner than 74% of Financials companies.
• Its weakest area is the price trend (51/100): +2.9% over a year, −6.3% over three months, 8% below its 52-week high.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
• Each factor except momentum is half fixed thresholds, half rank among the 76 Financials companies.

The financials

The financials, five years deep

Pulled from Raymond James Financial's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Raymond James Financial says it does

Raymond James Financial, Inc. (“RJF” or the “firm”) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations, and municipalities. The firm, together with its subsidiaries, is engaged in various financial services activities, including providing investment management services to retail and institutional clients, merger & acquisition and advisory services, the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products. The firm also provides corporate and retail banking services and trust services. The firm operates predominantly in the United States (“U.S.”) and, to a lesser extent, in Canada, the United Kingdom (“UK”), and other parts of Europe. As used herein, the terms “our,” “we,” or “us” refer to RJF and/or one or more of its…

Risk factors RJF lists in its 10-K

• Damage to our reputation could damage our businesses
• Any cyber-attack or other security breach of our technology systems, or those of our clients or other third parties we rely on, could subject us to significant liability and harm our reputation
• Lack of funding, liquidity, or access to capital could impair our business and financial condition
• Significant volatility in our clients’ cash sweep and bank deposit balances and higher costs in sourcing such balances could negatively affect our net revenues, our Bank segment’s growth, and our regulatory capital ratios
• We are exposed to litigation and regulatory investigations and proceedings, which could materially and adversely impact our business operations and prospects
• Our business is sensitive to domestic and international macroeconomic conditions caused by political and geopolitical developments, fiscal, monetary, and tax policies, regulations, and other domestic or international events
• Our ability to attract and retain senior professionals, qualified financial advisors and other associates is critical to the continued success of our business
• We are exposed to market risk, including interest rate risk
• Our business depends on fees generated from the distribution of financial products, fees earned from the management of client accounts, and other asset management fees
• Our underwriting, market-making, trading, lending, and other business activities place our capital at risk
• A continued interruption to our telecommunications or data processing systems, or the failure to effectively update the technology we utilize could be materially adverse to our business
• The soundness of other financial institutions and intermediaries affects us
• Our risk management and conflicts of interest policies and procedures may leave us exposed to unidentified or unanticipated risk
• We face intense competition and pricing pressures and may not be able to keep pace with technological change
• A downgrade in our credit ratings could have a material adverse effect on our operations, earnings, and financial condition
• Business growth, including through acquisitions, could increase costs and regulatory and integration risks
• Associate misconduct, which is difficult to detect and deter, could harm us by impairing our ability to attract and retain clients and subject us to significant legal liability and reputational harm
• Our operations could be adversely affected by serious weather conditions
• We are subject to risks relating to environmental, social, and governance matters that could adversely affect our reputation,
• The preparation of the consolidated financial statements requires the use of estimates that may vary from actual results
• We are exposed to risks related to our insurance programs
• Financial services firms are highly regulated and are subject to new and proposed regulations, all of which may increase our risk of financial liability and reputational harm resulting from adverse regulatory actions
• Changes in requirements relating to the standard of care for broker-dealers have increased, and may continue to increase, our costs
• Failure to comply with regulatory capital requirements primarily applicable to RJF, Raymond James Bank, TriState Capital Bank or our broker-dealer subsidiaries would significantly harm our business
• The Basel III regulatory capital standards impose capital and other requirements on us that could negatively impact our profitability
• As a financial holding company, RJF’s liquidity depends on payments from its subsidiaries, which may be subject to regulatory restrictions

Filings

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