Raymond James Financial (RJF) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Raymond James Financial

NYSE•Financial Services•Asset Management

$163.77-0.80(<0.01%)After hours

Market Cap

$31.77B

P/E

13.8x

P/S

1.9x

P/B

2.5x

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.

How this company scores

GoodMetricSide Score: 69/100

Strongest: Profitability (21/25); weakest: Cash & Earnings Quality (14/25).

Profitability21/25

Growth19/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality14/25

Strengths

Strong marginsHigh ROEInterest easily coveredCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.8x5y range 11.8x – 16.4x

Currently near its 20-quarter median.

P/S · 1.9x5y range 1.6x – 2.2x

Currently near its 20-quarter median.

P/B · 2.5x5y range 2.0x – 2.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $31.77B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $16.99B
Q. Revenue: $4.36B
TTM EBITDA: $2.94B
TTM Op. Income: $2.94B
Q. Op. Income: $750.00M
TTM Net Income: $2.31B
Q. Net Income: $595.00M
EPS: $3.06
Shares Out.: $194.00M

$16.99B in TTM revenue grew 8.0% YoY, reaching $4.36B last quarter. TTM EBITDA of $2.94B and TTM operating income of $2.94B show growth is flowing through to the bottom line. TTM net income of $2.31B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 17.2%
Op. Margin: 17.2%
Net Margin: 13.6%

Op. margin of 17.2% is up 2.5% YoY — cost efficiency is improving. Net margin at 13.6% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.8x
P/S Ratio: 1.9x
P/B Ratio: 2.5x

At 13.8x P/E, the stock trades below typical market levels. P/S of 1.9x and P/B of 2.5x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 5% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $94.24B
Cash: $9.98B
Long-Term Debt: N/A
Book Value: $12.70B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-246.00M
TTM Free Cash Flow: $1.44B
FCF Margin: 8.5%
FCF / Net Income: 0.6

TTM FCF of $1.44B on $-246.00M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 26% — a weakening trend.