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US financial services firm centered on independent and employee financial advisors and private client wealth management.
US financial services firm centered on independent and employee financial advisors and private client wealth management.
Earns fees on assets that advisors manage for clients and commissions on trades, and pays advisors a large share of what they bring in, so profit comes from the platform around them. Cash that clients hold in sweep accounts is lent out through Raymond James Bank, adding interest income. Based in St. Petersburg, Florida.
Moat: narrow (switching costs, brand, distribution). Advisor-friendly culture and long tenure builds loyalty, though advisors can and do move to rivals.
Headquarters: St. Petersburg, Florida, US · Founded: 1962
Size Raymond James Financial (RJF) is a United States Financials company (Investment Managers) with a market value of $31.3B, the 355th largest of 3,117 United States companies the cockpit tracks. Shares closed at $162.81 on 6 Nov 2026.
Performance Over six months the shares gained 5.9%, against +5.7% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 10.2% over the last twelve months (peer median +9.7%); the operating margin is 21.2% (peer median 30.9%).
Valuation It trades at 11.4× forward earnings against a peer median of 11.7× (10th cheapest of 21).
Credit Raymond James Financial has 5 bonds outstanding ($3.55B), rated A- by the agencies and trading like BBB+ at a weighted spread of 93 bp.
Short interest Short interest is 3.2% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $17.5B | $17.5B | $15.9B | $14.9B | $13.0B |
| Revenue growth | — | +10% | +6% | +15% | — |
| Gross profit | $16.1B | $17.3B | $13.8B | $12.6B | $11.5B |
| EBITDA | n/a | n/a | $3.10B | $2.99B | $2.71B |
| Net income | $2.37B | $2.37B | $2.13B | $2.06B | $1.73B |
| Free cash flow | n/a | n/a | $2.17B | $1.71B | -$3.81B |
| Capital expenditure | n/a | n/a | $188M | $205M | $173M |
| Total debt | n/a | n/a | $5.87B | $4.56B | $4.01B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Raymond James Financial RJF | $31.3B | +6% | +10% | 21% | 11.4× | n/a |
| LPL Financial LPLA | $23.0B | -3% | +31% | 13% | 10.5× | n/a |
| Ameriprise Financial AMP | $43.5B | +8% | +9% | 28% | 10.0× | n/a |
| Morgan Stanley MS | $285B | -6% | +16% | 33% | 13.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RJF | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.6% | +1.9% | 10th highest of 21 |
| 6-month return | +5.9% | +5.7% | 11th highest of 21 |
| Distance from 52-week high | -10.9% | -17.7% | 5th highest of 21 |
| Revenue growth (TTM) | +10.2% | +9.7% | 11th highest of 21 |
| Operating margin | 21.2% | 30.9% | 7th lowest of 21 |
| Forward P/E | 11.4× | 11.7× | 10th cheapest of 21 |
| Bond spread | 93 bp | 94 bp | 6th tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Raymond James Financial RJF | United States | $31.3B | +6% | +10% | 21% | 11.4× | n/a | n/a |
| Northern Trust NTRS | United States | $31.3B | +8% | +7% | 24% | 13.7× | n/a | n/a |
| Ares Management ARES | United States | $30.0B | +7% | +7% | 27% | 20.5× | n/a | n/a |
| Nomura 8604.T | Japan | $26.5B | +15% | +12% | 12% | 9.0× | n/a | n/a |
| Eqt EQT.ST | Sweden | $39.2B | +1% | -18% | 59% | 22.6× | n/a | n/a |
| Guotai Haitong Securities 2611.HK | Hong Kong | $39.8B | -6% | +38% | 69% | 6.0× | n/a | n/a |
| Principal Financial PFG | United States | $23.6B | +10% | +5% | 15% | 11.3× | n/a | n/a |
| CSC Financial 6066.HK | Hong Kong | $23.5B | -15% | +3% | 49% | 5.5× | n/a | n/a |
| T. Rowe Price TROW | United States | $23.1B | +4% | +7% | 36% | 10.8× | n/a | n/a |
| Ameriprise Financial AMP | United States | $43.5B | +8% | +9% | 28% | 10.0× | n/a | n/a |
| Amundi AMUN.PA | France | $21.7B | +9% | +1% | 23% | 11.9× | n/a | n/a |
| Partners PGHN.SW | Switzerland | $21.3B | -24% | +9% | 56% | 16.7× | n/a | n/a |
| Pershing Square PS | United States | $20.6B | +24% | +67% | 37% | 84.9× | n/a | n/a |
| China Merchants Securities 6099.HK | Hong Kong | $20.2B | -10% | +98% | 34% | 4.5× | n/a | n/a |
| TPG TPG | United States | $17.9B | +4% | +21% | 17% | 13.8× | n/a | n/a |
| Franklin Resources BEN | United States | $17.1B | +10% | +8% | 15% | 10.6× | n/a | n/a |
| CVC Capital Partners CVC.AS | Netherlands | $16.9B | +10% | +14% | 57% | 18.1× | n/a | n/a |
| Blue Owl Capital OWL | United States | $15.4B | -7% | +11% | 17% | 10.4× | n/a | n/a |
| ICICI Prudential Asset Management ICICIAMC.NS | India | $15.4B | -11% | +22% | 73% | 39.2× | n/a | n/a |
| DWS Group GmbH & Co. KGaA DWS.DE | Germany | $14.7B | +7% | +24% | 37% | 12.6× | n/a | n/a |
| Apollo Global Management APO | United States | $68.9B | -12% | +11% | 11% | 11.5× | n/a | n/a |
Raymond James Financial has 5 bonds outstanding with $3.55B face value. The agencies rate it A-; its bonds trade like BBB+. Weighted yield 6.01%, a spread of 93 bp over government bonds.