(RJF) Raymond James Financial - Ratings and Ratios
Private Client, Capital Markets, Asset Management, Banking
Dividends
| Dividend Yield | 1.23% |
| Yield on Cost 5y | 3.41% |
| Yield CAGR 5y | 5.02% |
| Payout Consistency | 86.9% |
| Payout Ratio | 18.8% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 24.0% |
| Value at Risk 5%th | 39.0% |
| Relative Tail Risk | -1.20% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.03 |
| Alpha | -15.29 |
| CAGR/Max DD | 0.51 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.431 |
| Beta | 1.023 |
| Beta Downside | 1.107 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.01% |
| Mean DD | 9.13% |
| Median DD | 7.70% |
Description: RJF Raymond James Financial December 04, 2025
Raymond James Financial Inc. (NYSE:RJF) is a diversified financial-services firm operating across the United States, Canada and Europe. Its business is organized into four primary operating segments-Private Client Group, Capital Markets, Asset Management, and Banking-plus a smaller “Other” segment that holds private-equity stakes.
The Private Client Group delivers wealth-management solutions such as financial planning, investment advisory, securities execution, insurance, annuities and mutual-fund distribution. As of FY 2024 the segment managed roughly $300 billion in client assets, generating a net-new-assets inflow of 4.2% YoY, and contributed about 45% of total revenue.
The Capital Markets segment provides investment-banking services-including equity and debt underwriting, M&A advisory, and syndication of low-income housing funds-alongside institutional brokerage, equity research and securities trading. In the most recent quarter, underwriting fees rose 7% year-over-year, reflecting a rebound in corporate equity issuances as the Fed’s policy rate stabilizes.
Asset Management offers portfolio management and administrative services to both retail and institutional clients. The division’s fee-based revenue reached $560 million in FY 2024, driven by a 3.8% increase in assets under management and a shift toward higher-margin alternative-investment products.
The Banking segment supplies a range of loan products (securities-based, commercial, CRE, REIT, residential mortgage) and FDIC-insured deposits. The loan portfolio stood at $32 billion, while deposits topped $55 billion, supporting a net interest margin of 2.1%-a modest compression relative to the previous year due to a flatter yield curve.
The “Other” segment consists mainly of private-equity investments in third-party funds, which contributed a modest but growing share of earnings as the firm expands its alternative-asset footprint.
For a deeper dive into RJF’s valuation dynamics and how its multi-segment model may respond to changing interest-rate and M&A cycles, explore the detailed analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (2.13b TTM) > 0 and > 6% of Revenue (6% = 954.7m TTM) |
| FCFTA 0.03 (>2.0%) and ΔFCFTA 0.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -321.2% (prev -269.6%; Δ -51.56pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.03 (>3.0%) and CFO 2.43b > Net Income 2.13b (YES >=105%, WARN >=100%) |
| Net Debt (-6.98b) to EBITDA (4.76b) ratio: -1.47 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.29 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (206.6m) change vs 12m ago -2.68% (target <= -2.0% for YES) |
| Gross Margin 88.16% (prev 85.44%; Δ 2.72pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 18.59% (prev 17.76%; Δ 0.82pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.47 (EBITDA TTM 4.76b / Interest Expense TTM 1.85b) >= 6 (WARN >= 3) |
Altman Z'' -2.76
| (A) -0.58 = (Total Current Assets 21.10b - Total Current Liabilities 72.21b) / Total Assets 88.23b |
| (B) 0.15 = Retained Earnings (Balance) 13.60b / Total Assets 88.23b |
| (C) 0.05 = EBIT TTM 4.56b / Avg Total Assets 85.61b |
| (D) 0.17 = Book Value of Equity 13.21b / Total Liabilities 75.73b |
| Total Rating: -2.76 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 88.38
| 1. Piotroski 5.0pt |
| 2. FCF Yield 12.95% |
| 3. FCF Margin 14.12% |
| 4. Debt/Equity 0.35 |
| 5. Debt/Ebitda -1.47 |
| 6. ROIC - WACC (= 14.79)% |
| 7. RoE 17.47% |
| 8. Rev. Trend 96.87% |
| 9. EPS Trend 73.89% |
What is the price of RJF shares?
Over the past week, the price has changed by +4.21%, over one month by +2.24%, over three months by -1.15% and over the past year by -0.17%.
Is RJF a buy, sell or hold?
- Strong Buy: 2
- Buy: 2
- Hold: 10
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the RJF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 183.8 | 12.7% |
| Analysts Target Price | 183.8 | 12.7% |
| ValueRay Target Price | 182.5 | 11.9% |
RJF Fundamental Data Overview December 02, 2025
P/E Trailing = 15.1981
P/E Forward = 13.369
P/S = 2.227
P/B = 2.4781
P/EG = 1.1624
Beta = 1.006
Revenue TTM = 15.91b USD
EBIT TTM = 4.56b USD
EBITDA TTM = 4.76b USD
Long Term Debt = 4.22b USD (from longTermDebt, last quarter)
Short Term Debt = 891.0m USD (from shortTermDebt, last quarter)
Debt = 4.41b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -6.98b USD (from netDebt column, last quarter)
Enterprise Value = 17.35b USD (31.21b + Debt 4.41b - CCE 18.28b)
Interest Coverage Ratio = 2.47 (Ebit TTM 4.56b / Interest Expense TTM 1.85b)
FCF Yield = 12.95% (FCF TTM 2.25b / Enterprise Value 17.35b)
FCF Margin = 14.12% (FCF TTM 2.25b / Revenue TTM 15.91b)
Net Margin = 13.42% (Net Income TTM 2.13b / Revenue TTM 15.91b)
Gross Margin = 88.16% ((Revenue TTM 15.91b - Cost of Revenue TTM 1.88b) / Revenue TTM)
Gross Margin QoQ = 89.23% (prev 87.88%)
Tobins Q-Ratio = 0.20 (Enterprise Value 17.35b / Total Assets 88.23b)
Interest Expense / Debt = 10.50% (Interest Expense 463.0m / Debt 4.41b)
Taxrate = 17.37% (127.0m / 731.0m)
NOPAT = 3.77b (EBIT 4.56b * (1 - 17.37%))
Current Ratio = 0.29 (Total Current Assets 21.10b / Total Current Liabilities 72.21b)
Debt / Equity = 0.35 (Debt 4.41b / totalStockholderEquity, last quarter 12.50b)
Debt / EBITDA = -1.47 (Net Debt -6.98b / EBITDA 4.76b)
Debt / FCF = -3.11 (Net Debt -6.98b / FCF TTM 2.25b)
Total Stockholder Equity = 12.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.42% (Net Income 2.13b / Total Assets 88.23b)
RoE = 17.47% (Net Income TTM 2.13b / Total Stockholder Equity 12.22b)
RoCE = 27.74% (EBIT 4.56b / Capital Employed (Equity 12.22b + L.T.Debt 4.22b))
RoIC = 24.44% (NOPAT 3.77b / Invested Capital 15.42b)
WACC = 9.65% (E(31.21b)/V(35.62b) * Re(9.79%) + D(4.41b)/V(35.62b) * Rd(10.50%) * (1-Tc(0.17)))
Discount Rate = 9.79% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.70%
[DCF Debug] Terminal Value 62.99% ; FCFE base≈2.13b ; Y1≈1.40b ; Y5≈638.8m
Fair Price DCF = 49.03 (DCF Value 9.64b / Shares Outstanding 196.7m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 73.89 | EPS CAGR: 10.76% | SUE: 1.59 | # QB: 1
Revenue Correlation: 96.87 | Revenue CAGR: 12.70% | SUE: 3.10 | # QB: 1
EPS next Quarter (2026-03-31): EPS=2.92 | Chg30d=+0.033 | Revisions Net=+7 | Analysts=10
EPS current Year (2026-09-30): EPS=12.05 | Chg30d=+0.140 | Revisions Net=+11 | Growth EPS=+13.1% | Growth Revenue=+11.0%
EPS next Year (2027-09-30): EPS=13.48 | Chg30d=+0.009 | Revisions Net=+5 | Growth EPS=+11.9% | Growth Revenue=+7.8%
Additional Sources for RJF Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle