Raymond James Financial (RJF) stock
Financials · Investment Banking & Brokerage
Raymond James Financial (RJF) is an Investment Banking & Brokerage company in the Financials sector, headquartered in St. Petersburg, Florida. As of October 23, 2026, RJF closed at $157.70, a market capitalization of $30.29 billion, the 317th largest company in the S&P 500. Over the last twelve months it generated $15.24 billion in revenue (+15% year over year) and $1.44 billion in free cash flow. The stock trades at 13.7x trailing earnings and 11.1x forward earnings.
- 1-year total return: -3.1% (dividends reinvested)
- 5-year return: +10.6% a year
- 52-week range: $138.82 – $182.73
- Gross margin 93.2%, operating margin 19.3%
- Dividend yield: 1.37%, 16 straight years of increases
- FI Handbook report card: B- across 9 metrics
- 53rd largest of 76 Financials stocks in the S&P 500
RJF price chart
1Y price change: -4.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| RJF | +0.0% | -0.4% | -3.1% | +20.4% | +10.6% | +16.6% | +15.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1983.
RJF key statistics
- Market cap
- $30.3B
- #317 in S&P 500
- P/E (TTM)
- 13.7x
- Forward P/E
- 11.1x
- EPS (TTM)
- $11.47
- Revenue (TTM)
- $15.2B
- +15%
- Free cash flow
- $1.4B
- Gross margin
- 93.2%
- Operating margin
- 19.3%
- Return on equity
- 18.4%
- Dividend yield
- 1.37%
- 52-week range
- $138.82 – $182.73
- Beta
- 0.95
- Price / sales
- 2.0x
- EV / EBITDA
- —
- Debt / equity
- 0.48x
- Employees
- 19,500
RJF report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth15.1%B
- Gross margin93.2%A
- Operating margin19.3%C
- FCF margin9.5%C
- Return on equity18.4%B
- Net debt / EBITDA——
- Forward P/E11.1xA
- PEG ratio0.8xA
- Shareholder yield1.4%D
- Share count change / yr-0.4%C
Raymond James Financial financials
Revenue went from $5.5B in fiscal 2016 to $15.9B in fiscal 2025, growing 12.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.5B | $6.5B | $7.5B | $8.0B | $8.2B | $9.9B | $11.3B | $13.0B | $14.9B | $15.9B |
| Net income | $529.4M | $636.0M | $857.0M | $1.0B | $818.0M | $1.4B | $1.5B | $1.7B | $2.1B | $2.1B |
| EPS (diluted) | $2.43 | $2.89 | $3.83 | $4.78 | $3.88 | $6.63 | $6.98 | $7.97 | $9.70 | $10.30 |
| Free cash flow | -$695.1M | -$315.0M | $750.0M | $439.0M | $3.9B | $6.6B | -$19.0M | -$3.7B | $1.9B | $2.2B |
| Buybacks | $162.5M | $34.0M | $62.0M | $778.0M | $272.0M | $128.0M | — | — | — | — |
| Dividends paid | $113.4M | $127.0M | $151.0M | $191.0M | $205.0M | $218.0M | — | — | — | — |
| Diluted shares | 216.8M | 219.9M | 223.2M | 216.0M | 210.3M | 211.2M | 215.3M | 216.9M | 212.3M | 206.6M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into RJF?
A reverse DCF asks what growth the current price requires. With an enterprise value of $20.4B and $1.4B of trailing free cash flow, Raymond James Financial needs to grow free cash flow about 2.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -10.7% a year over the last five years.
P/E ratio history
Current 15.3x vs. median 16.6x (10th–90th percentile 12.6x–21.4x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
RJF dividend
- Dividend yield
- 1.37%
- Annual dividend
- $2.16
- Years of increases
- 16
- 5-yr dividend growth
- 22.0%
- per year
- Payout ratio
- 18%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
RJF analyst price targets
14 analysts' average 12-month target is $183.86 (+17% vs. $157.70). Targets range from $160.00 to $209.00. 38% rate it a buy.
RJF earnings
Next report: October 28, 2026. Raymond James Financial has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $3.9B (+16% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 22, 2026 | $2.91 | $3.14 | +7.8% |
| Apr 22, 2026 | $2.71 | $2.72 | +0.5% |
| Jan 28, 2026 | $2.83 | $2.86 | +0.9% |
| Oct 22, 2025 | $2.83 | $3.11 | +10.0% |
| Jul 23, 2025 | $2.36 | $2.18 | -7.5% |
| Apr 23, 2025 | $2.44 | $2.42 | -0.7% |
| Jan 29, 2025 | $2.69 | $2.93 | +8.8% |
| Oct 23, 2024 | $2.41 | $2.95 | +22.2% |
Stocks like RJF
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 MS Morgan Stanley | -2.44% | +15% | $280.9B | 14.2x | Compare |
 GS Goldman Sachs | -1.75% | +19% | $255.0B | 12.6x | Compare |
 SCHW Charles Schwab Corporation (The | -0.94% | -3% | $156.6B | 15.5x | Compare |
 IBKR Interactive Brokers | -2.43% | +20% | $136.8B | 30.6x | Compare |
 HOOD Robinhood Markets | -1.56% | -29% | $85.5B | 41.9x | Compare |
 BRK-B Berkshire Hathaway | -0.87% | +11% | $1.2T | 13.6x | Compare |
 JPM JP Morgan Chase | -1.47% | +15% | $880.5B | 13.9x | Compare |
 V Visa | -1.55% | +19% | $765.8B | 34.7x | Compare |
RJF news
- Axon Stock Rebounded After a Sharp Selloff. Raymond James Still Sees 61% Upside · Oct 24, 2026
- Top restaurant stocks to watch, according to Raymond James · Oct 23, 2026
- Is Raymond James Well-Positioned to Sustain Strong Capital Returns? · Oct 21, 2026
- Raymond James Financial, Inc. (RJF) Reports Next Week: Wall Street Expects Earnings Growth · Oct 21, 2026
- Raymond James Names Top Household and Personal Care Stocks · Oct 21, 2026
RJF stock FAQ
What is RJF's market cap?
Raymond James Financial's market capitalization is $30.29 billion as of October 23, 2026, ranking 317th in the S&P 500.
What is RJF's P/E ratio?
RJF trades at a trailing price-to-earnings ratio of 13.7x and a forward P/E of 11.1x. Its median P/E over the period we track is 16.6x.
Does RJF pay a dividend?
Yes. Raymond James Financial pays $2.16 per share a year, a 1.37% yield. It has raised its dividend 16 years in a row. Dividends grew 22.0% a year over the last five years.
How much has RJF stock returned?
Including reinvested dividends, RJF returned -3.1% over one year, +10.6% a year over five years, +16.6% a year over ten years through October 23, 2026.
Is RJF stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Raymond James Financial must grow free cash flow about 2% a year for the next decade. Its free cash flow fell 11% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the RJF price target?
14 analysts cover RJF with an average 12-month price target of $183.86, +17% from the current price. 38% of them rate it a buy.
When does RJF report earnings?
Raymond James Financial is expected to report earnings on October 28, 2026. It has beaten EPS estimates 4 quarters in a row.
How many employees does Raymond James Financial have?
Raymond James Financial has about 19,500 full-time employees, or $781,538 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology