Raymond James Financial (RJF) AI Stock Analysis

• Market Cap: $31.53B
• Dividend Yield: 1.26%
• Average Volume (3M): 1.30M
• Price to Earnings (P/E): 15.4
• Beta (1Y): 1.12
• Revenue Growth: 6.55%
• EPS Growth: 5.90%
• Country: US
• Employees: 19,000
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 3.11
• Shares Outstanding: 199,383,970
• 10 Day Avg. Volume: 1,536,385
• 30 Day Avg. Volume: 1,303,222
• PEG Ratio: 0.56
• Price to Book (P/B): 2.17
• Price to Sales (P/S): 1.72
• P/FCF Ratio: 13.01
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $183.88
• Price Target Upside: 15.25% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: $185.00 ▲(15.95% Upside)

Raymond James Financial's overall stock score is driven by strong financial performance and positive earnings call highlights, including record revenues and strategic investments. However, technical indicators suggest bearish momentum, and cash flow challenges pose potential risks. The stock's valuation is reasonable, providing a balanced outlook.

Positive Factors

Record Financial Performance

Consistent record financial performance over multiple years indicates strong market position and effective business strategies, supporting long-term growth.

Strong Asset Growth

Significant growth in client assets reflects robust demand for services and enhances revenue potential, indicating a solid foundation for future expansion.

Technology and AI Investments

Substantial investments in technology and AI enhance competitive advantage and operational efficiency, positioning the company for sustainable innovation-driven growth.

Negative Factors

Cash Flow Challenges

Declining free cash flow growth could constrain financial flexibility and investment capacity, potentially impacting long-term operational and strategic initiatives.

Interest Rate Impact

Interest rate impacts on income highlight vulnerability to macroeconomic factors, which could affect profitability and financial stability if rates remain volatile.

Expense Growth

Rising expenses, driven by growth initiatives, may pressure margins and reduce profitability if not managed effectively, impacting long-term financial health.

Raymond James Financial Business Overview & Revenue Model

Company Description

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 investment services, portfolio management services, insurance and annuity products, and mutual funds; support to third-party product partners, including sales and marketing support, as well as distribution and accounting, and administrative services; margin loans; and securities borrowing and lending services. The Capital Markets segment provides investment banking services, including equity underwriting, debt underwriting, and merger and acquisition advisory services; and fixed income and equity brokerage services. The Asset Management segment offers asset management, portfolio management, and related administrative services to retail and institutional clients; and administrative support services, such as record-keeping. The Raymond James Bank segment provides insured deposit accounts; commercial and industrial, commercial real estate (CRE) and CRE construction, tax-exempt, residential, securities-based, and other loans; and loan syndication services. The Other segment engages in the private equity investments, including various direct and third-party private equity investments; and legacy private equity funds. The company was founded in 1962 and is headquartered in St. Petersburg, Florida.

How the Company Makes Money

Raymond James generates revenue through several key streams. The primary sources include wealth management fees, which are derived from asset management services and advisory fees charged to clients for investment advice and portfolio management. Additionally, the firm earns commissions from brokerage services, where they facilitate the buying and selling of securities. Investment banking activities contribute to revenue through underwriting fees and advisory fees from corporate clients during mergers and acquisitions. Other revenue comes from capital markets operations, where the firm engages in trading and investment activities. Significant partnerships with financial institutions and a strong advisor network also enhance their earnings potential by expanding client reach and service capabilities.

Raymond James Financial Financial Statement Overview

Summary

Raymond James Financial demonstrates strong revenue growth and profitability, supported by efficient operations and a stable balance sheet. However, cash flow challenges, particularly in free cash flow growth, pose potential risks. The company maintains a solid financial position with effective equity utilization, but should address cash flow management to sustain long-term growth.

Income Statement

Raymond James Financial shows strong revenue growth with a TTM increase of 5.6% and a significant gross profit margin of 89.88%. The net profit margin is healthy at 13.70%, although slightly lower than the previous year. EBIT and EBITDA margins are robust, indicating efficient operations. Overall, the income statement reflects strong profitability and growth.

Balance Sheet

The company's debt-to-equity ratio is stable at 0.31, indicating a balanced approach to leveraging. Return on equity is strong at 17.75%, showcasing effective use of equity capital. The equity ratio is not explicitly calculated, but the balance sheet suggests a solid financial position with a focus on equity financing.

Cash Flow

Cash flow analysis reveals challenges with a significant decline in free cash flow growth, down by 76.71% TTM. The operating cash flow to net income ratio is low, suggesting potential liquidity issues. However, the free cash flow to net income ratio remains high at 90.20%, indicating that the company is still generating cash relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.80B	14.74B	12.84B	11.16B	9.78B	7.89B
Gross Profit	14.73B	12.59B	11.34B	10.75B	9.66B	7.66B
EBITDA	3.39B	2.82B	2.44B	2.28B	1.93B	1.32B
Net Income	2.13B	2.07B	1.74B	1.51B	1.40B	818.00M
Balance Sheet
Total Assets	187.00M	82.99B	78.36B	80.95B	61.89B	47.48B
Cash, Cash Equivalents and Short-Term Investments	0.00	19.25B	18.47B	15.99B	15.52B	13.97B
Total Debt	0.00	4.03B	3.48B	3.79B	3.17B	3.53B
Total Liabilities	0.00	71.33B	68.17B	71.52B	53.59B	40.31B
Stockholders Equity	0.00	11.67B	10.21B	9.46B	8.24B	7.11B
Cash Flow
Free Cash Flow	1.49B	1.95B	-3.69B	-19.00M	6.57B	3.95B
Operating Cash Flow	1.64B	2.15B	-3.51B	72.00M	6.65B	4.07B
Investing Cash Flow	-2.89B	-968.00M	-274.00M	-7.15B	-5.14B	-4.99B
Financing Cash Flow	-171.00M	438.00M	1.44B	5.88B	5.23B	4.57B

Raymond James Financial Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 159.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RJF, the sentiment is Negative. The current price of 159.55 is below the 20-day moving average (MA) of 161.75, below the 50-day MA of 166.30, and above the 200-day MA of 154.78, indicating a neutral trend. The MACD of -2.23 indicates Positive momentum. The RSI at 37.03 is Neutral, neither overbought nor oversold. The STOCH value of 11.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RJF.

Raymond James Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IBKR	79 Outperform	$31.47B	34.04	19.82%	0.40%	12.42%	28.96%
RJF	78 Outperform	$31.53B	15.36	17.72%	1.26%	6.55%	5.90%
SCHW	70 Outperform	$170.34B	22.00	17.04%	1.12%	5.90%	66.60%
LPLA	70 Outperform	$29.97B	34.46	21.32%	0.32%	35.19%	-18.62%
SF	69 Neutral	$12.20B	21.07	―	1.51%	7.53%	2.73%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
JEF	49 Neutral	$10.93B	18.26	6.29%	2.92%	-5.41%	25.28%

Raymond James Financial Corporate Events

Raymond James Financial Reports Record Earnings and Growth

Raymond James Financial’s recent earnings call painted a picture of robust financial health, marked by record-breaking revenues and substantial growth in client assets. The company showcased its successful recruitment efforts and strategic investments in technology and AI. However, the call also highlighted some challenges, including a decline in pretax income and increased expenses due to interest rate impacts and growth investments.

Raymond James Financial Reports Record Fiscal 2025 Results

Raymond James Financial, Inc. is a diversified financial services company offering private client group, capital markets, asset management, and banking services, with total client assets reaching $1.73 trillion. The company recently reported record financial results for the fiscal year 2025, including annual net revenues of $14.07 billion and net income of $2.13 billion. Key highlights include a 10% increase in client assets under administration and a 15% rise in assets in fee-based accounts. The company also returned over $1.5 billion to shareholders through share repurchases and dividends. Raymond James Financial’s Private Client Group, Capital Markets, and Asset Management segments all reported record revenues, with significant growth in asset management fees and investment banking revenues. The bank segment also saw a 12% increase in net loans. As the company enters fiscal 2026, it is well-positioned with strong client asset levels and a robust investment banking pipeline, supported by strategic investments in technology and AI to enhance service delivery.

Raymond James Reports Record Client Assets in August

On September 24, 2025, Raymond James Financial reported its operating data for August 2025, highlighting a record $1.69 trillion in client assets under administration, a 10% increase year-over-year, driven by higher equity markets and net asset inflows. Despite a decline in domestic cash sweep and Enhanced Savings Program balances, the firm noted strong advisor recruiting and a robust investment banking pipeline, indicating positive momentum in its operations.

The most recent analyst rating on (RJF) stock is a Hold with a $180.00 price target. To see the full list of analyst forecasts on Raymond James Financial stock, see the RJF Stock Forecast page.

Raymond James Financial Amends Credit Agreement for Growth

On September 23, 2025, Raymond James Financial, Inc. amended its existing credit agreement, extending the maturity date to September 23, 2030, increasing the facility amount to $1 billion, and decreasing the interest rate applicable to borrowings. This strategic financial adjustment is expected to enhance the company’s financial flexibility and potentially improve its market positioning.

The most recent analyst rating on (RJF) stock is a Hold with a $180.00 price target. To see the full list of analyst forecasts on Raymond James Financial stock, see the RJF Stock Forecast page.

Raymond James Financial Closes $1.5 Billion Senior Notes Offering

On September 11, 2025, Raymond James Financial, Inc. successfully closed a public underwritten offering of $1.5 billion in senior notes, consisting of $650 million in 4.900% senior notes due 2035 and $850 million in 5.650% senior notes due 2055. The proceeds from this offering are intended for general corporate purposes, potentially impacting the company’s financial flexibility and market positioning.

The most recent analyst rating on (RJF) stock is a Buy with a $180.00 price target. To see the full list of analyst forecasts on Raymond James Financial stock, see the RJF Stock Forecast page.

Raymond James Financial Declares Quarterly Dividends

On August 20, 2025, Raymond James Financial, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.50 per share on its common stock, payable on October 15, 2025, to shareholders of record as of October 1, 2025. Additionally, a quarterly dividend of $0.3984375 per depositary share of its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock was declared, payable on October 1, 2025, to shareholders of record on September 15, 2025. This announcement reflects the company’s ongoing commitment to returning value to its shareholders through regular dividend payments.

The most recent analyst rating on (RJF) stock is a Hold with a $174.00 price target. To see the full list of analyst forecasts on Raymond James Financial stock, see the RJF Stock Forecast page.

Raymond James Reports July 2025 Operating Data

On August 20, 2025, Raymond James Financial reported its operating data for July 2025, highlighting a 10% year-over-year increase in client assets under administration, driven by higher equity markets and net asset inflows. Despite a decline in domestic cash sweep and Enhanced Savings Program balances by 2% year-over-year, the company noted robust advisor recruiting activity and a strong investment banking pipeline, indicating positive operational momentum.

The most recent analyst rating on (RJF) stock is a Buy with a $185.00 price target. To see the full list of analyst forecasts on Raymond James Financial stock, see the RJF Stock Forecast page.