Raymond James Financial (RJF) revenue breakdown
By segment, Private Client Group is the largest at 68% of fiscal 2025 revenue; Bank grew fastest, 14% a year over 8 years.
By product, Asset management and related administrative fees is the largest at 48% of fiscal 2024 revenue; Investment banking grew fastest, 32% a year over 1 years.
Revenue by segment
Fiscal years, as Raymond James Financial reports them in its 10-K filings; fiscal 2025 total $14.9B.
| Segments | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Private Client Group | $4.4B | $5.1B | $5.4B | $5.6B | $6.6B | $7.8B | $8.7B | $9.5B | $10.2B | 68% |
| Bank | $628M | $816M | $1.0B | $827M | $714M | $1.2B | $2.0B | $1.7B | $1.8B | 12% |
| Capital Markets | $1.0B | $992M | $1.1B | $1.3B | $1.9B | $1.8B | $1.2B | $1.5B | $1.8B | 12% |
| Asset Management | $488M | $654M | $691M | $715M | $867M | $914M | $885M | $1.0B | $1.2B | 8% |
Revenue by product
Fiscal years, as Raymond James Financial reports them in its 10-K filings; fiscal 2024 total $12.8B.
| Products | 2020 | 2022 | 2023 | 2024 | Share |
|---|---|---|---|---|---|
| Asset management and related administrative fees | $3.8B | $5.6B | $5.4B | $6.2B | 48% |
| Securities commissions | $1.5B | $1.6B | $1.5B | $1.7B | 13% |
| Investment banking | — | — | $648M | $858M | 7% |
| RJBDP fees | — | $202M | — | $607M | 5% |
| Brokerage Revenue, Securities Commissions, Mutual And Other Fund Products | — | $631M | $547M | $575M | 4% |
| Equities, ETFs and fixed income products | — | — | $473M | $557M | 4% |
| Merger & acquisition and advisory | $290M | $709M | $418M | $521M | 4% |
| Insurance and annuity products | $397M | $438M | $439M | $519M | 4% |
| Mutual fund and other investment products | $348M | $427M | $414M | $470M | 4% |
| Client account and other fees | $126M | $204M | $213M | $237M | 2% |
| Other Revenue | — | $188M | $187M | $180M | 1% |
| Equity underwriting | $227M | $248M | $120M | $169M | 1% |
| Debt underwriting | $133M | $143M | $110M | $168M | 1% |
| Affordable housing investments business revenues | — | $127M | $109M | $118M | 1% |
| Account and service fees | — | — | $1.1B | — | — |
| Account and service fees | $624M | $833M | — | — | — |
| Equities, ETFs and fixed income products | $492M | — | — | — | — |
| RJBDP fees | $150M | — | — | — | — |
| Tax credit fund revenues | $83M | — | — | — | — |
Revenue by region
Fiscal years, as Raymond James Financial reports them in its 10-K filings; fiscal 2025 total $14.1B.
| Regions | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| U.S. | $5.9B | $6.8B | $7.2B | $7.4B | $9.1B | $10.1B | $10.6B | $11.7B | $12.9B | 92% |
| Canada | $328M | $381M | $391M | $386M | $485M | $542M | $563M | $599M | $645M | 5% |
| Europe | $108M | $139M | $138M | $158M | $208M | $396M | $447M | $494M | $549M | 4% |
| Other | $4M | — | — | — | — | — | — | — | — | — |
Questions
Where does Raymond James Financial make its money?
In fiscal 2025, by segment: Private Client Group $10.2B, Bank $1.8B, Capital Markets $1.8B, Asset Management $1.2B.
From Raymond James Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.