Raymond James Financial (RJF) financial statements
Raymond James Financial reported revenue of $15.9B in fiscal 2025, up 12.5% a year over 9 years.
Net income was $2.1B.
Free cash flow was $2.2B.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Raymond James Financial's 10-K filings with the SEC.
| 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 |
| Interest expense | $116M | $154M | $202M | $283M | $178M | $150M | $305M | $1.4B | — | — |
| Pre-tax income | $812M | $928M | $1.3B | $1.4B | $1.1B | $1.8B | $2.0B | $2.3B | $2.5B | $2.6B |
| Income tax | $271M | $289M | $454M | $341M | $234M | $388M | $513M | $541M | $575M | $579M |
| Net income | $529M | $636M | $857M | $1.0B | $818M | $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 |
| Diluted shares | 217M | 220M | 223M | 216M | 210M | 211M | 215M | 217M | 212M | 207M |
| Net margin | 9.6% | 9.7% | 11.5% | 12.9% | 10.0% | 14.2% | 13.3% | 13.4% | 13.9% | 13.4% |
Balance sheet
Fiscal years, from Raymond James Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.7B | $3.7B | $3.5B | $4.0B | $5.4B | $7.2B | $6.2B | $9.3B | $11.0B | $11.4B |
| Property, plant and equipment | $321M | $437M | $486M | $527M | $535M | $499M | $503M | $561M | $635M | $670M |
| Goodwill | $408M | $411M | $478M | $464M | $466M | $660M | $1.4B | $1.4B | $1.5B | $1.5B |
| Total assets | $31.5B | $34.9B | $37.4B | $38.8B | $47.5B | $61.9B | $81.0B | $78.4B | $83.0B | $88.2B |
| Total liabilities | $26.4B | $29.2B | $31.0B | $32.2B | $40.3B | $53.6B | $71.5B | $68.2B | $71.3B | $75.7B |
| Shareholders' equity | $4.9B | $5.6B | $6.4B | $6.6B | $7.1B | $8.2B | $9.5B | $10.2B | $11.7B | $12.5B |
| Net debt | -$1.7B | -$3.7B | -$3.5B | -$4.0B | -$5.4B | -$7.2B | -$6.2B | -$9.3B | -$11.0B | -$11.4B |
Cash flow
Fiscal years, from Raymond James Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$573M | -$125M | $884M | $577M | $4.1B | $6.6B | $72M | -$3.5B | $2.2B | $2.4B |
| Capital spending | $122M | $190M | $134M | $138M | $124M | $74M | $91M | $173M | $205M | $188M |
| Free cash flow | -$695M | -$315M | $750M | $439M | $3.9B | $6.6B | -$19M | -$3.7B | $1.9B | $2.2B |
| Stock-based compensation | $79M | $109M | $99M | $112M | $120M | $132M | $192M | $237M | $254M | $254M |
| Dividends paid | $113M | $127M | $151M | $191M | $205M | $218M | — | — | — | — |
| Share buybacks (net) | -$163M | -$34M | -$62M | -$778M | -$272M | -$128M | — | — | — | — |
| Net borrowing | -$4M | -$655M | -$855M | -$855M | — | — | — | — | — | — |
| Free cash flow margin | -12.6% | -4.8% | 10.0% | 5.5% | 48.3% | 66.3% | -0.2% | -28.4% | 13.1% | 14.1% |
| Dividends per share | $0.52 | $0.58 | $0.68 | $0.88 | $0.97 | $1.03 | — | — | — | — |
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Open RJF in InvestinglyQuestions
What was Raymond James Financial's revenue in 2025?
$15.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Raymond James Financial generate?
$2.2B in fiscal 2025 (operating cash flow minus capital spending).
From Raymond James Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.