Raymond James (RJF) Financials

$136.24 +1.21 (+0.90%)

Closing price 03:59 PM Eastern

Extended Trading

$136.19 -0.05 (-0.04%)

As of 05:07 PM Eastern

Annual Income Statements for Raymond James

This table shows Raymond James' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	502	529	636	857	1,034	818	1,403	1,505	1,733	2,063
Consolidated Net Income / (Loss)	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068
Net Income / (Loss) Continuing Operations	519	541	636	857	1,034	818	1,435	1,509	1,739	2,068
Total Pre-Tax Income	815	812	925	1,311	1,375	1,052	1,791	2,022	2,280	2,643
Total Revenue	5,204	5,405	6,371	7,274	7,740	7,990	9,760	11,003	11,619	12,821
Net Interest Income / (Expense)	437	524	648	842	998	822	673	1,203	2,375	0.00
Total Interest Income	543	640	802	1,044	1,281	1,000	823	1,508	3,748	0.00
Total Interest Expense	106	116	154	202	283	178	150	305	1,373	0.00
Total Non-Interest Income	4,766	4,881	5,723	6,432	6,742	7,168	9,087	9,800	9,244	12,821
Other Service Charges	3,998	82	5,723	-	-	-	-	-	-	10,199
Investment Banking Income	710	304	-	-	-	-	-	-	-	4,232
Other Non-Interest Income	-	4,403	0.00	6,432	6,742	7,168	9,087	9,800	9,244	-1,610
Total Non-Interest Expense	4,389	4,593	5,446	5,963	6,365	6,938	7,969	8,981	9,339	10,178
Salaries and Employee Benefits	3,525	3,625	4,228	4,795	5,087	5,465	6,584	7,329	7,299	8,213
Net Occupancy & Equipment Expense	430	447	488	554	591	618	661	758	870	958
Marketing Expense	159	148	155	181	194	134	111	186	242	257
Other Operating Expenses	252	304	498	409	456	442	645	608	796	705
Other Special Charges	24	28	59	20	22	46	-	-	-	45
Income Tax Expense	296	271	289	454	341	234	388	513	541	575
Preferred Stock Dividends Declared	-	-	-	-	-	0.00	0.00	4.00	6.00	5.00
Basic Earnings per Share	$3.51	$3.72	$4.43	$5.89	$4.88	$3.96	$6.81	$7.16	$8.16	$9.94
Weighted Average Basic Shares Outstanding	142.55M	141.77M	143.30M	145.30M	211.50M	206.40M	205.70M	209.90M	211.80M	207.10M
Diluted Earnings per Share	$3.43	$3.65	$4.33	$5.75	$4.78	$3.88	$6.63	$6.98	$7.97	$9.70
Weighted Average Diluted Shares Outstanding	145.94M	144.51M	146.60M	148.80M	216M	210.30M	211.20M	215.30M	216.90M	212.30M
Weighted Average Basic & Diluted Shares Outstanding	143.10M	142.30M	143.60M	143.28M	138.72M	136.93M	206.16M	215.06M	208.61M	204.04M
Cash Dividends to Common per Share	$0.70	$0.78	$0.86	$1.02	$1.32	$1.45	$1.03	$1.28	$1.60	$1.77

This table shows Raymond James' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Income / (Loss) Attributable to Common Shareholders	299	437	507	425	738	63	497	474	982	110	599
Consolidated Net Income / (Loss)	301	439	509	427	369	434	498	476	492	602	600
Net Income / (Loss) Continuing Operations	301	428	509	427	369	434	498	476	502	592	600
Total Pre-Tax Income	415	616	652	557	486	585	630	609	654	750	749
Total Revenue	2,718	2,831	2,786	2,873	2,907	3,053	3,013	3,118	3,228	3,462	3,537
Net Interest Income / (Expense)	314	497	586	631	601	557	1,053	529	523	-1,598	1,027
Total Interest Income	374	667	827	915	987	1,019	1,053	1,049	1,057	-3,159	1,027
Investment Securities Interest Income	374	667	827	915	987	1,019	1,053	1,049	1,057	-	1,027
Total Interest Expense	60	170	241	284	386	462	0.00	520	534	-1,561	0.00
Total Non-Interest Income	2,404	2,334	2,200	2,242	2,306	2,496	1,960	2,589	2,705	5,060	2,510
Other Service Charges	2,276	-	2,068	2,115	-	-	2,328	2,475	-	-	2,889
Other Non-Interest Income	128	6,937	132	127	2,306	6,679	-368	114	2,705	-4,568	-379
Total Non-Interest Expense	2,303	2,215	2,134	2,316	2,421	2,468	2,383	2,509	2,584	2,702	2,788
Salaries and Employee Benefits	1,834	1,759	1,736	1,820	1,851	1,892	1,921	2,043	2,090	2,159	2,272
Net Occupancy & Equipment Expense	194	204	205	221	217	227	222	238	241	257	251
Marketing Expense	58	59	56	54	66	66	61	60	72	64	68
Other Operating Expenses	161	159	123	193	233	247	167	147	191	200	197
Other Special Charges	56	-	14	28	-	-	12	21	-	-	0.00
Income Tax Expense	114	177	143	130	117	151	132	133	152	158	149
Preferred Stock Dividends Declared	2.00	2.00	2.00	2.00	0.00	2.00	1.00	2.00	1.00	1.00	1.00
Basic Earnings per Share	$1.41	$2.08	$2.36	$1.97	$1.75	$0.30	$2.38	$2.27	$2.37	$2.92	$2.94
Weighted Average Basic Shares Outstanding	210.70M	209.90M	214.70M	214.30M	210.10M	211.80M	208.60M	208.30M	206.80M	207.10M	203.70M
Diluted Earnings per Share	$1.38	$2.08	$2.30	$1.93	$1.71	$0.30	$2.32	$2.22	$2.31	$2.85	$2.86
Weighted Average Diluted Shares Outstanding	215.70M	215.30M	220.40M	219.20M	214.80M	216.90M	213.80M	213.40M	212.30M	212.30M	209.20M
Weighted Average Basic & Diluted Shares Outstanding	215.82M	215.06M	215.35M	211.91M	208.84M	208.61M	209.03M	207.28M	205.94M	204.04M	204.91M
Cash Dividends to Common per Share	$0.34	$0.37	$0.34	$0.42	$0.42	$0.42	$0.42	$0.45	$0.45	-	$0.45

This table details how cash moves in and out of Raymond James' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	402	-951	611	-1,205	30	3,663	6,815	-1,790	-2,111	1,800
Net Cash From Operating Activities	899	-573	-125	884	577	4,073	6,647	72	-3,514	2,155
Net Cash From Continuing Operating Activities	899	-573	-125	884	577	4,073	6,647	72	-3,514	2,155
Net Income / (Loss) Continuing Operations	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068
Consolidated Net Income / (Loss)	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068
Provision For Loan Losses	34	42	36	55	59	257	-20	111	292	21
Depreciation Expense	68	72	84	99	112	119	134	145	165	179
Amortization Expense	-43	-25	-28	21	14	57	15	23	-49	-36
Non-Cash Adjustments to Reconcile Net Income	64	5.48	-273	201	149	127	104	432	112	-81
Changes in Operating Assets and Liabilities, net	256	-1,209	-580	-349	-791	2,695	5,011	-2,148	-5,773	4.00
Net Cash From Investing Activities	-2,177	-2,918	-3,376	-3,476	-1,897	-4,985	-5,140	-7,151	-274	-968
Net Cash From Continuing Investing Activities	-2,177	-2,918	-3,376	-3,476	-1,897	-4,985	-5,140	-7,151	-274	-968
Purchase of Property, Leasehold Improvements and Equipment	-74	-122	-190	-134	-138	-124	-74	-91	-173	-205
Acquisitions	-	-	-	-	-	-5.00	-266	1,461	0.00	0.00
Purchase of Investment Securities	-2,306	-3,101	-3,987	-4,101	-2,638	-6,900	-8,237	-10,498	-2,043	-3,188
Sale and/or Maturity of Investments	204	305	801	759	879	2,044	3,437	1,977	1,942	2,425
Net Cash From Financing Activities	1,730	2,540	4,065	1,420	1,373	4,574	5,232	5,879	1,438	438
Net Cash From Continuing Financing Activities	1,730	2,540	4,065	1,420	1,373	4,574	5,232	5,879	1,438	438
Net Change in Deposits	1,891	2,343	3,470	2,210	2,339	4,520	5,694	6,269	2,842	1,811
Issuance of Debt	550	817	2,068	1,150	1,150	1,344	737	1,025	3,200	1,300
Issuance of Common Equity	48	43	57	63	65	62	53	52	46	46
Repayment of Debt	-544	-369	-1,342	-1,765	-1,155	-855	-875	-967	-3,391	-1,350
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	0.00	-40	0.00
Repurchase of Common Equity	-89	-163	-34	-62	-778	-291	-150	-216	-862	-984
Payment of Dividends	-103	-113	-127	-151	-191	-205	-218	-277	-355	-383
Other Financing Activities, Net	-24	-17	-27	-25	-57	-1.00	-9.00	-7.00	-2.00	-2.00
Effect of Exchange Rate Changes	-50	0.19	47	-33	-23	1.00	76	-590	239	175
Cash Interest Paid	106	114	156	201	283	164	145	323	1,310	2,119
Cash Income Taxes Paid	379	304	349	231	390	246	437	524	565	664

This table details how cash moves in and out of Raymond James' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Change in Cash & Equivalents	5,357	-5,550	-3,366	2,067	-1,146	334	1,389	-231	-970	1,612	-768
Net Cash From Operating Activities	5,740	-4,498	-3,136	-624	-188	434	543	391	711	510	830
Net Cash From Continuing Operating Activities	5,740	-4,498	-3,136	-624	-188	434	543	391	711	510	830
Net Income / (Loss) Continuing Operations	301	439	509	427	369	434	498	476	492	602	600
Consolidated Net Income / (Loss)	301	439	509	427	369	434	498	476	492	602	600
Provision For Loan Losses	56	39	21	57	113	101	7.00	-7.00	-	21	7.00
Depreciation Expense	36	40	40	41	42	42	42	45	45	47	47
Amortization Expense	16	-17	-11	-12	-14	-12	-12	-5.00	-13	-6.00	-4.00
Non-Cash Adjustments to Reconcile Net Income	183	99	48	-3.00	-1.00	68	-14	-23	54	-98	159
Changes in Operating Assets and Liabilities, net	5,148	-5,098	-3,743	-1,134	-697	-199	22	-95	133	-56	21
Net Cash From Investing Activities	-2,716	-2,032	-666	347	387	-342	-176	67	-648	-211	-937
Net Cash From Continuing Investing Activities	-2,716	-2,032	-666	347	387	-342	-176	67	-648	-211	-937
Purchase of Property, Leasehold Improvements and Equipment	-26	-23	-27	-42	-53	-51	-50	-49	-56	-50	-41
Purchase of Investment Securities	-4,983	-2,139	-1,010	-21	-359	-653	-497	-410	-1,311	-970	-1,542
Sale and/or Maturity of Investments	524	438	371	410	799	362	371	526	719	809	646
Net Cash From Financing Activities	2,573	1,281	221	2,301	-1,433	349	907	-641	-1,022	1,194	-447
Net Cash From Continuing Financing Activities	2,573	1,281	221	2,301	-1,433	349	907	-641	-1,022	1,194	-447
Net Change in Deposits	2,610	1,469	622	2,250	-461	431	1,194	-550	-442	1,609	-160
Issuance of Debt	175	-	650	1,000	900	650	750	200	350	-	450
Issuance of Common Equity	12	8.00	11	14	12	9.00	10	18	9.00	9.00	10
Repayment of Debt	-54	-61	-791	-500	-1,450	-650	-750	-	-600	-	-450
Repurchase of Common Equity	-101	-56	-189	-369	-302	-2.00	-199	-213	-243	-329	-185
Payment of Dividends	-69	-77	-81	-93	-92	-89	-97	-96	-95	-95	-105
Other Financing Activities, Net	-	-2.00	-1.00	-1.00	-	-	-1.00	-	-1.00	-	-7.00
Effect of Exchange Rate Changes	-240	-301	215	43	88	-107	115	-48	-11	119	-214
Cash Interest Paid	61	186	216	267	375	452	499	550	526	544	499
Cash Income Taxes Paid	93	138	13	376	147	29	24	349	175	116	9.00

This table presents Raymond James' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	26,468	31,487	34,883	37,413	38,830	47,482	61,891	80,951	78,360	82,992
Cash and Due from Banks	2,601	1,650	3,670	3,500	3,957	5,390	7,201	6,178	9,313	10,998
Restricted Cash	2,905	4,884	3,476	2,441	2,014	4,244	11,348	8,481	3,235	3,350
Trading Account Securities	1,536	2,340	3,726	4,206	4,730	9,023	9,660	11,343	10,633	9,843
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customer and Other Receivables	2,674	3,554	3,640	4,268	3,654	3,447	3,888	2,934	2,525	2,711
Intangible Assets	377	503	493	639	611	600	882	1,931	1,907	1,886
Other Assets	16,119	18,234	19,441	21,873	23,337	24,778	28,912	50,084	50,747	54,204
Total Liabilities & Shareholders' Equity	26,468	31,487	34,883	37,413	38,830	47,482	61,891	80,951	78,360	82,992
Total Liabilities	21,682	26,424	29,190	30,961	32,187	40,306	53,588	71,519	68,173	71,325
Non-Interest Bearing Deposits	11,920	14,263	17,732	19,942	22,281	26,801	32,495	51,357	54,199	56,010
Short-Term Debt	5,871	8,028	7,676	7,163	6,041	7,042	15,354	13,267	7,037	7,098
Other Short-Term Payables	1,572	1,455	1,627	1,648	2,019	-	3,526	3,555	3,845	4,263
Long-Term Debt	1,642	2,358	1,933	1,973	1,550	2,933	2,037	2,038	2,039	2,040
Other Long-Term Liabilities	677	320	221	235	296	3,530	176	1,302	1,053	1,914
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,786	5,063	5,693	6,452	6,643	7,176	8,303	9,432	10,187	11,667
Total Preferred & Common Equity	4,522	4,917	5,582	6,368	6,581	7,114	8,245	9,458	10,214	11,673
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	120	79	79
Total Common Equity	4,522	4,917	5,582	6,368	6,581	7,114	8,245	9,338	10,135	11,594
Common Stock	1,346	1,500	1,647	1,810	1,940	2,009	2,090	2,989	3,145	3,253
Retained Earnings	3,420	3,835	4,340	5,032	5,874	6,484	7,633	8,843	10,213	11,894
Treasury Stock	-203	-363	-390	-447	-1,210	-1,390	-1,437	-1,512	-2,252	-3,051
Accumulated Other Comprehensive Income / (Loss)	-41	-56	-15	-27	-23	11	-41	-982	-971	-502
Noncontrolling Interest	264	146	112	84	62	62	58	-26	-27	-6.00

This table presents Raymond James' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Total Assets	86,111	80,951	77,047	79,180	77,633	78,360	80,130	81,232	80,628	82,992	82,282
Cash and Due from Banks	5,958	6,178	6,177	8,663	8,375	9,313	10,206	10,001	9,095	10,998	10,048
Restricted Cash	16,251	8,481	5,116	4,697	3,839	3,235	3,731	3,705	3,641	3,350	3,532
Trading Account Securities	11,074	11,343	11,012	10,857	10,951	10,633	10,496	10,671	10,087	9,843	9,277
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	43,345	0.00	0.00	0.00	0.00	0.00	0.00
Customer and Other Receivables	2,954	2,934	2,641	2,575	2,364	2,525	2,382	2,782	2,798	2,711	2,650
Intangible Assets	1,810	1,931	1,938	1,932	1,928	1,907	1,908	1,894	1,884	1,886	1,858
Other Assets	46,939	50,084	49,041	49,348	5,709	50,747	51,407	52,179	53,123	54,204	54,917
Total Liabilities & Shareholders' Equity	86,111	80,951	77,047	79,180	77,633	78,360	80,130	81,232	80,628	82,992	82,282
Total Liabilities	76,619	71,519	67,217	69,211	67,711	68,173	69,349	70,253	69,438	71,325	70,353
Non-Interest Bearing Deposits	49,887	51,357	51,979	54,229	53,768	54,199	55,393	54,843	54,401	56,010	55,850
Short-Term Debt	20,787	13,267	9,330	8,849	7,528	7,037	7,202	7,702	6,892	7,098	7,081
Other Short-Term Payables	3,312	3,555	2,984	3,058	3,427	3,845	3,405	3,810	4,061	4,263	3,779
Long-Term Debt	2,038	2,038	2,038	2,038	2,039	2,039	2,039	2,039	2,039	2,040	2,040
Other Long-Term Liabilities	595	1,302	886	1,037	949	1,053	1,310	1,859	2,045	1,914	1,603
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,492	9,432	9,830	9,969	9,922	10,187	10,781	10,979	11,190	11,667	11,929
Total Preferred & Common Equity	9,515	9,458	9,856	9,995	9,949	10,214	10,790	10,984	11,197	11,673	11,923
Preferred Stock	120	120	120	120	79	79	79	79	79	79	79
Total Common Equity	9,395	9,338	9,736	9,875	9,870	10,135	10,711	10,905	11,118	11,594	11,844
Common Stock	2,950	2,989	2,977	3,037	3,101	3,145	3,160	3,188	3,223	3,253	3,128
Retained Earnings	8,478	8,843	9,254	9,590	9,870	10,213	10,609	10,988	11,385	11,894	12,378
Treasury Stock	-1,457	-1,512	-1,604	-1,954	-2,259	-2,252	-2,365	-2,547	-2,773	-3,051	-3,007
Accumulated Other Comprehensive Income / (Loss)	-576	-982	-891	-798	-842	-971	-693	-724	-717	-502	-655
Noncontrolling Interest	-23	-26	-26	-26	-27	-27	-9.00	-5.00	-7.00	-6.00	6.00

This table displays calculated financial ratios and metrics derived from Raymond James' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.04%	3.87%	17.87%	14.17%	6.41%	3.23%	22.15%	12.74%	5.60%	10.35%
EBITDA Growth	10.97%	2.25%	14.16%	45.87%	4.89%	-33.71%	98.19%	5.98%	8.33%	23.06%
EBIT Growth	13.78%	-0.33%	13.92%	41.73%	4.88%	-40.44%	122.59%	5.43%	11.76%	23.04%
NOPAT Growth	15.72%	4.26%	17.64%	34.75%	20.65%	-20.89%	71.52%	7.56%	15.24%	18.92%
Net Income Growth	15.72%	4.26%	17.64%	34.75%	20.65%	-20.89%	71.52%	7.56%	15.24%	18.92%
EPS Growth	3.31%	6.41%	18.63%	32.79%	20.65%	-20.89%	70.88%	5.28%	14.18%	21.71%
Operating Cash Flow Growth	77.05%	-163.79%	78.20%	807.20%	-34.73%	605.89%	63.20%	-98.92%	-4,980.56%	161.33%
Free Cash Flow Firm Growth	-146.55%	-318.98%	130.00%	-27.00%	317.77%	-187.90%	-240.16%	134.54%	192.50%	-92.71%
Invested Capital Growth	10.23%	25.62%	-0.95%	1.87%	-8.69%	20.49%	49.81%	-3.72%	-22.13%	8.01%
Revenue Q/Q Growth	1.15%	2.18%	3.75%	2.96%	193.29%	-38.11%	6.74%	1.25%	1.95%	3.30%
EBITDA Q/Q Growth	4.51%	-0.21%	4.47%	7.39%	143.31%	-84.20%	20.91%	-2.84%	-6.45%	7.15%
EBIT Q/Q Growth	4.33%	0.48%	4.09%	5.71%	138.13%	-86.63%	22.60%	-2.24%	-7.05%	7.09%
NOPAT Q/Q Growth	6.63%	3.20%	2.62%	8.70%	140.96%	-86.02%	16.72%	1.96%	-0.29%	8.27%
Net Income Q/Q Growth	6.63%	3.20%	2.62%	8.70%	126.21%	-86.02%	18.60%	0.67%	-0.29%	8.84%
EPS Q/Q Growth	-1.72%	8.96%	3.34%	8.49%	126.21%	-86.02%	15.30%	-1.69%	-20.54%	-0.51%
Operating Cash Flow Q/Q Growth	72.34%	-245.71%	-115.72%	171.92%	3.22%	22.20%	86.56%	-99.21%	58.39%	3.66%
Free Cash Flow Firm Q/Q Growth	-148.10%	-199.72%	167.72%	-32.86%	201.41%	-157.76%	-53.52%	130.15%	-50.50%	-58.84%
Invested Capital Q/Q Growth	5.58%	18.45%	3.26%	5.64%	-2.42%	2.07%	13.40%	-23.46%	-1.16%	3.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	16.15%	15.90%	15.40%	19.67%	19.39%	12.45%	20.20%	18.99%	19.49%	21.73%
EBIT Margin	15.65%	15.02%	14.52%	18.02%	17.76%	10.25%	18.68%	17.47%	18.49%	20.61%
Profit (Net Income) Margin	9.97%	10.00%	9.98%	11.78%	13.36%	10.24%	14.38%	13.71%	14.97%	16.13%
Tax Burden Percent	63.66%	66.59%	68.76%	65.37%	75.20%	77.76%	78.34%	74.63%	76.27%	78.24%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	128.45%	98.24%	105.20%	106.15%	100.00%
Effective Tax Rate	36.34%	33.41%	31.24%	34.63%	24.80%	22.24%	21.66%	25.37%	23.73%	21.76%
Return on Invested Capital (ROIC)	4.42%	3.90%	4.14%	5.55%	6.93%	5.21%	6.55%	5.98%	7.90%	10.32%
ROIC Less NNEP Spread (ROIC-NNEP)	4.42%	3.90%	4.14%	5.55%	6.93%	5.21%	6.55%	5.98%	7.90%	10.32%
Return on Net Nonoperating Assets (RNNOA)	6.83%	7.08%	7.69%	8.56%	8.86%	6.63%	11.58%	11.03%	9.82%	8.60%
Return on Equity (ROE)	11.25%	10.98%	11.83%	14.11%	15.79%	11.84%	18.13%	17.02%	17.73%	18.93%
Cash Return on Invested Capital (CROIC)	-5.31%	-18.81%	5.09%	3.70%	16.02%	-13.38%	-33.33%	9.78%	32.79%	2.63%
Operating Return on Assets (OROA)	3.27%	2.80%	2.79%	3.63%	3.61%	1.90%	3.33%	2.69%	2.70%	3.28%
Return on Assets (ROA)	2.08%	1.87%	1.92%	2.37%	2.71%	1.90%	2.57%	2.11%	2.18%	2.56%
Return on Common Equity (ROCE)	10.57%	10.52%	11.54%	13.89%	15.62%	11.73%	17.99%	16.87%	17.60%	18.82%
Return on Equity Simple (ROE_SIMPLE)	11.47%	11.00%	11.39%	13.46%	15.71%	11.50%	17.02%	15.95%	17.03%	17.72%
Net Operating Profit after Tax (NOPAT)	519	541	636	857	1,034	818	1,403	1,509	1,739	2,068
NOPAT Margin	9.97%	10.00%	9.98%	11.78%	13.36%	10.24%	14.38%	13.71%	14.97%	16.13%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	79.06%	78.08%	76.46%	76.02%	75.87%	77.81%	75.37%	75.19%	72.39%	73.54%
Operating Expenses to Revenue	84.35%	84.98%	85.48%	81.98%	82.24%	86.83%	81.65%	81.62%	80.38%	79.39%
Earnings before Interest and Taxes (EBIT)	815	812	925	1,311	1,375	819	1,823	1,922	2,148	2,643
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	840	859	981	1,431	1,501	995	1,972	2,090	2,264	2,786
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.38	1.49	1.96	1.92	1.61	1.33	2.21	2.21	2.04	2.17
Price to Tangible Book Value (P/TBV)	1.51	1.66	2.15	2.14	1.78	1.45	2.47	2.79	2.51	2.59
Price to Revenue (P/Rev)	1.20	1.36	1.72	1.68	1.37	1.18	1.87	1.88	1.78	1.96
Price to Earnings (P/E)	12.45	13.84	17.22	14.29	10.27	11.55	12.98	13.73	11.92	12.18
Dividend Yield	1.66%	1.55%	1.45%	1.31%	1.78%	2.15%	1.17%	1.42%	1.70%	1.45%
Earnings Yield	8.03%	7.23%	5.81%	7.00%	9.74%	8.66%	7.70%	7.28%	8.39%	8.21%
Enterprise Value to Invested Capital (EV/IC)	0.69	0.73	0.88	1.00	0.86	0.57	0.67	0.87	0.90	0.96
Enterprise Value to Revenue (EV/Rev)	1.64	2.09	2.12	2.13	1.59	1.23	1.75	1.95	1.48	1.56
Enterprise Value to EBITDA (EV/EBITDA)	10.14	13.18	13.79	10.85	8.20	9.90	8.68	10.24	7.62	7.18
Enterprise Value to EBIT (EV/EBIT)	10.46	13.95	14.63	11.84	8.95	12.03	9.39	11.14	8.03	7.56
Enterprise Value to NOPAT (EV/NOPAT)	16.43	20.94	21.27	18.12	11.90	12.04	12.20	14.19	9.92	9.67
Enterprise Value to Operating Cash Flow (EV/OCF)	9.48	0.00	0.00	17.56	21.32	2.42	2.58	297.29	0.00	9.28
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	17.28	27.16	5.15	0.00	0.00	8.68	2.39	38.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.57	2.05	1.69	1.42	1.14	1.39	2.09	1.62	0.89	0.78
Long-Term Debt to Equity	0.34	0.47	0.34	0.31	0.23	0.41	0.25	0.22	0.20	0.17
Financial Leverage	1.54	1.82	1.86	1.54	1.28	1.27	1.77	1.84	1.24	0.83
Leverage Ratio	5.40	5.88	6.17	5.95	5.82	6.25	7.07	8.05	8.12	7.38
Compound Leverage Factor	5.40	5.88	6.17	5.95	5.82	8.02	6.94	8.47	8.62	7.38
Debt to Total Capital	61.09%	67.23%	62.79%	58.61%	53.33%	58.16%	67.69%	61.87%	47.12%	43.92%
Short-Term Debt to Total Capital	47.73%	51.96%	50.16%	45.95%	42.44%	41.06%	59.76%	53.63%	36.53%	34.12%
Long-Term Debt to Total Capital	13.35%	15.26%	12.63%	12.66%	10.89%	17.10%	7.93%	8.24%	10.59%	9.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.49%	0.41%	0.38%
Noncontrolling Interests to Total Capital	2.15%	0.95%	0.73%	0.54%	0.44%	0.36%	0.23%	-0.11%	-0.14%	-0.03%
Common Equity to Total Capital	36.77%	31.82%	36.48%	40.85%	46.23%	41.48%	32.09%	37.75%	52.61%	55.73%
Debt to EBITDA	8.94	12.09	9.80	6.38	5.06	10.03	8.82	7.32	4.01	3.28
Net Debt to EBITDA	2.39	4.48	2.51	2.23	1.08	0.34	-0.59	0.31	-1.53	-1.87
Long-Term Debt to EBITDA	1.95	2.74	1.97	1.38	1.03	2.95	1.03	0.98	0.90	0.73
Debt to NOPAT	14.49	19.21	15.11	10.66	7.34	12.19	12.40	10.14	5.22	4.42
Net Debt to NOPAT	3.87	7.12	3.87	3.73	1.57	0.42	-0.83	0.43	-2.00	-2.52
Long-Term Debt to NOPAT	3.17	4.36	3.04	2.30	1.50	3.59	1.45	1.35	1.17	0.99
Noncontrolling Interest Sharing Ratio	6.03%	4.17%	2.40%	1.61%	1.11%	0.90%	0.78%	0.86%	0.74%	0.57%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-623	-2,610	783	572	2,388	-2,099	-7,140	2,466	7,213	526
Operating Cash Flow to CapEx	1,212.63%	-470.96%	-65.79%	659.70%	418.12%	3,284.68%	8,982.43%	79.12%	-2,031.21%	1,051.22%
Free Cash Flow to Firm to Interest Expense	-5.87	-22.49	5.08	2.83	8.44	-11.79	-47.60	8.09	5.25	0.00
Operating Cash Flow to Interest Expense	8.47	-4.94	-0.81	4.38	2.04	22.88	44.31	0.24	-2.56	0.00
Operating Cash Flow Less CapEx to Interest Expense	7.77	-5.99	-2.05	3.71	1.55	22.19	43.82	-0.06	-2.69	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.19	0.19	0.20	0.20	0.19	0.18	0.15	0.15	0.16
Fixed Asset Turnover	20.76	18.72	16.79	15.76	15.28	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,299	15,450	15,303	15,588	14,234	17,151	25,694	24,737	19,263	20,805
Invested Capital Turnover	0.44	0.39	0.41	0.47	0.52	0.51	0.46	0.44	0.53	0.64
Increase / (Decrease) in Invested Capital	1,142	3,151	-147	285	-1,354	2,917	8,543	-957	-5,474	1,542
Enterprise Value (EV)	8,521	11,323	13,530	15,526	12,303	9,852	17,116	21,405	17,244	19,990
Market Capitalization	6,250	7,324	10,955	12,247	10,621	9,449	18,216	20,665	20,664	25,127
Book Value per Share	$31.41	$34.70	$38.71	$43.65	$47.40	$51.87	$60.10	$43.27	$48.53	$56.30
Tangible Book Value per Share	$28.79	$31.15	$35.29	$39.27	$43.00	$47.49	$53.67	$34.32	$39.40	$47.14
Total Capital	12,299	15,450	15,303	15,588	14,234	17,151	25,694	24,737	19,263	20,805
Total Debt	7,513	10,387	9,609	9,136	7,591	9,975	17,391	15,305	9,076	9,138
Total Long-Term Debt	1,642	2,358	1,933	1,973	1,550	2,933	2,037	2,038	2,039	2,040
Net Debt	2,007	3,852	2,463	3,195	1,620	341	-1,158	646	-3,472	-5,210
Capital Expenditures (CapEx)	74	122	190	134	138	124	74	91	173	205
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	7,513	10,387	9,609	9,136	7,591	9,975	17,391	15,305	9,076	9,138
Total Depreciation and Amortization (D&A)	26	47	56	120	126	176	149	168	116	143
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.34	$2.48	$2.95	$3.93	$4.88	$3.96	$6.81	$7.16	$8.16	$9.94
Adjusted Weighted Average Basic Shares Outstanding	213.82M	212.66M	214.91M	217.91M	211.50M	206.40M	205.70M	209.90M	211.80M	207.10M
Adjusted Diluted Earnings per Share	$2.29	$2.43	$2.89	$3.83	$4.78	$3.89	$6.63	$6.98	$7.97	$9.70
Adjusted Weighted Average Diluted Shares Outstanding	218.91M	216.77M	219.97M	223.26M	216M	210.30M	211.20M	215.30M	216.90M	212.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.88	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	214.72M	212.96M	216.60M	214.93M	208.08M	205.40M	206.16M	215.06M	208.61M	204.04M
Normalized Net Operating Profit after Tax (NOPAT)	534	587	689	873	1,062	854	1,403	1,509	1,739	2,103
Normalized NOPAT Margin	10.25%	10.85%	10.81%	12.00%	13.72%	10.69%	14.38%	13.71%	14.97%	16.40%
Pre Tax Income Margin	15.65%	15.02%	14.52%	18.02%	17.76%	13.17%	18.35%	18.38%	19.62%	20.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.68	7.00	6.01	6.49	4.86	4.60	12.15	6.30	1.56	0.00
NOPAT to Interest Expense	4.89	4.66	4.13	4.24	3.65	4.60	9.35	4.95	1.27	0.00
EBIT Less CapEx to Interest Expense	6.98	5.95	4.77	5.83	4.37	3.90	11.66	6.00	1.44	0.00
NOPAT Less CapEx to Interest Expense	4.19	3.61	2.90	3.58	3.17	3.90	8.86	4.65	1.14	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.89%	20.98%	19.97%	17.62%	18.47%	25.06%	15.54%	18.36%	20.41%	18.52%
Augmented Payout Ratio	36.96%	51.04%	25.31%	24.85%	93.71%	60.64%	26.23%	32.67%	69.98%	66.10%

This table displays calculated financial ratios and metrics derived from Raymond James' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.00%	5.05%	0.18%	7.48%	6.95%	7.84%	8.15%	8.53%	11.04%	13.40%	17.39%
EBITDA Growth	7.36%	6.50%	10.19%	22.85%	-1.50%	-3.76%	-3.08%	10.75%	49.13%	30.24%	20.00%
EBIT Growth	2.72%	10.00%	14.59%	28.64%	4.10%	-5.03%	-3.37%	9.34%	51.39%	29.91%	18.89%
NOPAT Growth	-7.67%	7.07%	14.13%	32.20%	22.59%	-1.14%	-2.16%	11.48%	36.04%	36.41%	20.48%
Net Income Growth	-1.95%	2.33%	14.13%	32.20%	22.59%	-1.14%	-2.16%	11.48%	33.33%	38.71%	20.48%
EPS Growth	-4.83%	-0.48%	9.52%	26.97%	23.91%	-85.58%	0.87%	15.03%	35.09%	850.00%	23.28%
Operating Cash Flow Growth	307.38%	-199.91%	-37.12%	-155.86%	-103.28%	109.65%	117.32%	162.66%	478.19%	17.51%	52.85%
Free Cash Flow Firm Growth	-69.33%	117.16%	224.43%	226.17%	241.01%	323.21%	-83.73%	-95.64%	-100.99%	-116.08%	-125.57%
Invested Capital Growth	42.64%	-3.72%	-31.57%	-39.50%	-39.69%	-22.13%	-5.55%	-0.65%	3.24%	8.01%	5.13%
Revenue Q/Q Growth	1.68%	4.16%	-1.59%	3.12%	1.18%	5.02%	-1.31%	3.48%	3.53%	7.25%	2.17%
EBITDA Q/Q Growth	-2.10%	36.83%	6.57%	-13.95%	-21.50%	33.70%	7.32%	-1.67%	5.70%	16.76%	-1.12%
EBIT Q/Q Growth	-4.16%	48.43%	5.84%	-14.57%	-22.44%	35.42%	7.69%	-3.33%	7.39%	16.21%	-1.45%
NOPAT Q/Q Growth	-6.81%	45.85%	15.95%	-16.11%	-13.58%	17.62%	14.75%	-4.42%	5.46%	17.93%	1.35%
Net Income Q/Q Growth	-6.81%	45.85%	15.95%	-16.11%	-13.58%	17.62%	14.75%	-4.42%	3.36%	22.36%	-0.33%
EPS Q/Q Growth	-9.21%	50.72%	10.58%	-16.09%	-11.40%	-82.46%	673.33%	-4.31%	4.05%	23.38%	0.35%
Operating Cash Flow Q/Q Growth	413.88%	-178.36%	30.28%	80.10%	69.87%	330.85%	25.12%	-27.99%	81.84%	-28.27%	62.75%
Free Cash Flow Firm Q/Q Growth	15.90%	114.92%	637.03%	36.47%	-6.01%	-55.23%	-71.67%	-63.44%	-121.24%	-630.77%	54.95%
Invested Capital Q/Q Growth	-6.25%	-23.46%	-14.31%	-1.61%	-6.55%	-1.16%	3.94%	3.49%	-2.89%	3.40%	1.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	17.18%	22.57%	24.44%	20.40%	15.82%	20.14%	21.91%	20.81%	21.25%	23.14%	22.39%
EBIT Margin	15.27%	21.76%	23.40%	19.39%	14.86%	19.16%	20.91%	19.53%	20.26%	21.95%	21.18%
Profit (Net Income) Margin	11.07%	15.51%	18.27%	14.86%	12.69%	14.22%	16.53%	15.27%	15.24%	17.39%	16.96%
Tax Burden Percent	72.53%	71.27%	78.07%	76.66%	75.93%	74.19%	79.05%	78.16%	75.23%	80.27%	80.11%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	112.50%	100.00%	100.00%	100.00%	100.00%	98.68%	100.00%
Effective Tax Rate	27.47%	28.73%	21.93%	23.34%	24.07%	25.81%	20.95%	21.84%	23.24%	21.07%	19.89%
Return on Invested Capital (ROIC)	4.38%	6.77%	7.71%	6.02%	5.59%	7.51%	9.50%	8.88%	9.75%	10.94%	11.02%
ROIC Less NNEP Spread (ROIC-NNEP)	4.38%	6.77%	7.71%	6.02%	5.59%	7.51%	9.50%	8.88%	9.64%	11.05%	11.02%
Return on Net Nonoperating Assets (RNNOA)	9.45%	12.47%	14.05%	11.91%	9.32%	9.33%	9.50%	8.74%	8.44%	9.21%	8.91%
Return on Equity (ROE)	13.82%	19.24%	21.76%	17.93%	14.90%	16.84%	19.00%	17.62%	18.19%	20.16%	19.94%
Cash Return on Invested Capital (CROIC)	-29.76%	9.78%	43.51%	55.27%	56.26%	32.79%	14.09%	9.20%	6.45%	2.63%	5.56%
Operating Return on Assets (OROA)	2.32%	3.35%	3.54%	2.85%	2.07%	2.80%	3.15%	2.94%	3.18%	3.49%	3.48%
Return on Assets (ROA)	1.68%	2.39%	2.76%	2.19%	1.77%	2.07%	2.49%	2.30%	2.39%	2.76%	2.79%
Return on Common Equity (ROCE)	13.70%	19.08%	21.59%	17.84%	14.79%	16.71%	18.85%	17.48%	18.08%	20.04%	19.80%
Return on Equity Simple (ROE_SIMPLE)	15.75%	0.00%	15.95%	16.77%	17.53%	0.00%	16.01%	16.18%	16.97%	0.00%	18.20%
Net Operating Profit after Tax (NOPAT)	301	439	509	427	369	434	498	476	502	592	600
NOPAT Margin	11.07%	15.51%	18.27%	14.86%	12.69%	14.22%	16.53%	15.27%	15.55%	17.10%	16.96%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	-0.11%	0.00%
SG&A Expenses to Revenue	76.75%	71.42%	71.68%	72.92%	73.41%	71.57%	73.15%	75.08%	74.44%	71.63%	73.25%
Operating Expenses to Revenue	84.73%	78.24%	76.60%	80.61%	83.28%	80.84%	79.09%	80.47%	80.05%	78.05%	78.82%
Earnings before Interest and Taxes (EBIT)	415	616	652	557	432	585	630	609	654	760	749
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	467	639	681	586	460	615	660	649	686	801	792
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.92	2.21	2.30	1.99	2.19	2.04	2.14	2.45	2.30	2.17	2.67
Price to Tangible Book Value (P/TBV)	2.38	2.79	2.88	2.48	2.73	2.51	2.61	2.97	2.76	2.59	3.16
Price to Revenue (P/Rev)	1.66	1.88	2.04	1.76	1.90	1.78	1.94	2.21	2.06	1.96	2.37
Price to Earnings (P/E)	12.05	13.73	14.33	11.81	10.28	11.92	13.33	15.09	12.66	12.18	14.59
Dividend Yield	1.48%	1.42%	1.38%	1.66%	1.57%	1.70%	1.56%	1.36%	1.41%	1.45%	1.16%
Earnings Yield	8.30%	7.28%	6.98%	8.47%	9.73%	8.39%	7.50%	6.63%	7.90%	8.21%	6.85%
Enterprise Value to Invested Capital (EV/IC)	0.58	0.87	1.07	0.83	0.98	0.90	0.92	1.10	1.08	0.96	1.29
Enterprise Value to Revenue (EV/Rev)	1.73	1.95	2.05	1.55	1.67	1.48	1.55	1.89	1.76	1.56	2.04
Enterprise Value to EBITDA (EV/EBITDA)	8.72	10.24	9.98	7.30	7.88	7.62	7.72	9.37	8.38	7.18	9.33
Enterprise Value to EBIT (EV/EBIT)	9.54	11.14	10.68	7.73	8.25	8.03	8.12	9.89	8.83	7.56	9.85
Enterprise Value to NOPAT (EV/NOPAT)	12.67	14.19	14.38	10.33	10.93	9.92	10.61	12.86	11.41	9.67	12.54
Enterprise Value to Operating Cash Flow (EV/OCF)	2.07	297.29	0.00	0.00	0.00	0.00	111.12	19.37	10.48	9.28	11.15
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	8.68	1.99	1.13	1.31	2.39	6.31	11.95	17.05	38.00	23.83
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.40	1.62	1.16	1.09	0.96	0.89	0.86	0.89	0.80	0.78	0.76
Long-Term Debt to Equity	0.21	0.22	0.21	0.20	0.21	0.20	0.19	0.19	0.18	0.17	0.17
Financial Leverage	2.16	1.84	1.82	1.98	1.67	1.24	1.00	0.98	0.88	0.83	0.81
Leverage Ratio	8.23	8.05	7.87	8.20	8.43	8.12	7.63	7.66	7.50	7.38	7.15
Compound Leverage Factor	8.23	8.05	7.87	8.20	9.49	8.12	7.63	7.66	7.50	7.29	7.15
Debt to Total Capital	70.63%	61.87%	53.63%	52.20%	49.09%	47.12%	46.15%	47.01%	44.39%	43.92%	43.33%
Short-Term Debt to Total Capital	64.32%	53.63%	44.01%	42.43%	38.63%	36.53%	35.97%	37.17%	34.25%	34.12%	33.64%
Long-Term Debt to Total Capital	6.31%	8.24%	9.61%	9.77%	10.46%	10.59%	10.18%	9.84%	10.13%	9.81%	9.69%
Preferred Equity to Total Capital	0.37%	0.49%	0.57%	0.58%	0.41%	0.41%	0.39%	0.38%	0.39%	0.38%	0.38%
Noncontrolling Interests to Total Capital	-0.07%	-0.11%	-0.12%	-0.12%	-0.14%	-0.14%	-0.05%	-0.02%	-0.03%	-0.03%	0.03%
Common Equity to Total Capital	29.07%	37.75%	45.93%	47.35%	50.64%	52.61%	53.50%	52.63%	55.26%	55.73%	56.27%
Debt to EBITDA	10.61	7.32	5.02	4.59	3.95	4.01	3.89	4.00	3.44	3.28	3.13
Net Debt to EBITDA	0.29	0.31	0.03	-1.04	-1.09	-1.53	-1.98	-1.63	-1.46	-1.87	-1.53
Long-Term Debt to EBITDA	0.95	0.98	0.90	0.86	0.84	0.90	0.86	0.84	0.78	0.73	0.70
Debt to NOPAT	15.42	10.14	7.23	6.50	5.49	5.22	5.35	5.48	4.68	4.42	4.20
Net Debt to NOPAT	0.42	0.43	0.05	-1.48	-1.52	-2.00	-2.72	-2.23	-1.99	-2.52	-2.05
Long-Term Debt to NOPAT	1.38	1.35	1.30	1.22	1.17	1.17	1.18	1.15	1.07	0.99	0.94
Noncontrolling Interest Sharing Ratio	0.87%	0.86%	0.79%	0.54%	0.77%	0.74%	0.80%	0.80%	0.59%	0.57%	0.68%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-9,359	1,396	10,289	14,041	13,197	5,908	1,674	612	-130	-950	-428
Operating Cash Flow to CapEx	22,076.92%	-19,556.52%	-11,614.81%	-1,485.71%	-354.72%	850.98%	1,086.00%	797.96%	1,269.64%	1,020.00%	2,024.39%
Free Cash Flow to Firm to Interest Expense	-155.98	8.21	42.69	49.44	34.19	12.79	0.00	1.18	-0.24	0.00	0.00
Operating Cash Flow to Interest Expense	95.67	-26.46	-13.01	-2.20	-0.49	0.94	0.00	0.75	1.33	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	95.23	-26.59	-13.12	-2.35	-0.62	0.83	0.00	0.66	1.23	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.15	0.15	0.15	0.14	0.15	0.15	0.15	0.16	0.16	0.16
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	32,317	24,737	21,198	20,856	19,489	19,263	20,022	20,720	20,121	20,805	21,050
Invested Capital Turnover	0.40	0.44	0.42	0.41	0.44	0.53	0.57	0.58	0.63	0.64	0.65
Increase / (Decrease) in Invested Capital	9,660	-957	-9,780	-13,614	-12,828	-5,474	-1,176	-136	632	1,542	1,028
Enterprise Value (EV)	18,758	21,405	22,604	17,321	19,060	17,244	18,334	22,855	21,795	19,990	27,218
Market Capitalization	18,045	20,665	22,435	19,700	21,655	20,664	22,960	26,746	25,528	25,127	31,592
Book Value per Share	$45.11	$43.27	$45.27	$45.86	$46.58	$48.53	$51.35	$52.17	$53.64	$56.30	$58.05
Tangible Book Value per Share	$36.42	$34.32	$36.26	$36.88	$37.48	$39.40	$42.20	$43.11	$44.55	$47.14	$48.94
Total Capital	32,317	24,737	21,198	20,856	19,489	19,263	20,022	20,720	20,121	20,805	21,050
Total Debt	22,825	15,305	11,368	10,887	9,567	9,076	9,241	9,741	8,931	9,138	9,121
Total Long-Term Debt	2,038	2,038	2,038	2,038	2,039	2,039	2,039	2,039	2,039	2,040	2,040
Net Debt	616	646	75	-2,473	-2,647	-3,472	-4,696	-3,965	-3,805	-5,210	-4,459
Capital Expenditures (CapEx)	26	23	27	42	53	51	50	49	56	50	41
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10	-10	0.00
Net Nonoperating Obligations (NNO)	22,825	15,305	11,368	10,887	9,567	9,076	9,241	9,741	8,931	9,138	9,121
Total Depreciation and Amortization (D&A)	52	23	29	29	28	30	30	40	32	41	43
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.41	$2.08	$2.36	$1.97	$1.75	$0.30	$2.38	$2.27	$2.37	$2.92	$2.94
Adjusted Weighted Average Basic Shares Outstanding	210.70M	209.90M	214.70M	214.30M	210.10M	211.80M	208.60M	208.30M	206.80M	207.10M	203.70M
Adjusted Diluted Earnings per Share	$1.38	$2.08	$2.30	$1.93	$1.71	$0.30	$2.32	$2.22	$2.31	$2.85	$2.86
Adjusted Weighted Average Diluted Shares Outstanding	215.70M	215.30M	220.40M	219.20M	214.80M	216.90M	213.80M	213.40M	212.30M	212.30M	209.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$2.08	$0.00	$0.00	$0.00	$0.30	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	215.82M	215.06M	215.35M	211.91M	208.84M	208.61M	209.03M	207.28M	205.94M	204.04M	204.91M
Normalized Net Operating Profit after Tax (NOPAT)	342	439	520	448	369	434	507	492	502	592	600
Normalized NOPAT Margin	12.57%	15.51%	18.66%	15.61%	12.69%	14.22%	16.84%	15.79%	15.55%	17.10%	16.96%
Pre Tax Income Margin	15.27%	21.76%	23.40%	19.39%	16.72%	19.16%	20.91%	19.53%	20.26%	21.66%	21.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.92	3.62	2.71	1.96	1.12	1.27	0.00	1.17	1.22	0.00	0.00
NOPAT to Interest Expense	5.02	2.58	2.11	1.50	0.96	0.94	0.00	0.92	0.94	0.00	0.00
EBIT Less CapEx to Interest Expense	6.48	3.49	2.59	1.81	0.98	1.16	0.00	1.08	1.12	0.00	0.00
NOPAT Less CapEx to Interest Expense	4.58	2.45	2.00	1.36	0.82	0.83	0.00	0.82	0.84	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.01%	18.36%	18.96%	19.09%	19.67%	20.41%	21.47%	21.05%	19.84%	18.52%	18.02%
Augmented Payout Ratio	27.82%	32.67%	41.48%	61.75%	72.19%	69.98%	71.93%	61.34%	54.42%	66.10%	62.72%

Frequently Asked Questions About Raymond James' Financials

When does Raymond James's financial year end?

According to the most recent income statement we have on file, Raymond James' fiscal year ends in September. Their fiscal year 2024 ended on September 30, 2024.

How has Raymond James' net income changed over the last 9 years?

Raymond James' net income appears to be on an upward trend, with a most recent value of $2.07 billion in 2024, rising from $518.58 million in 2015. The previous period was $1.74 billion in 2023.

How has Raymond James revenue changed over the last 9 years?

Over the last 9 years, Raymond James' total revenue changed from $5.20 billion in 2015 to $12.82 billion in 2024, a change of 146.4%.

How much debt does Raymond James have?

Raymond James' total liabilities were at $71.33 billion at the end of 2024, a 4.6% increase from 2023, and a 229.0% increase since 2015.

How much cash does Raymond James have?

In the past 9 years, Raymond James' cash and equivalents has ranged from $1.65 billion in 2016 to $11.00 billion in 2024, and is currently $11.00 billion as of their latest financial filing in 2024.

How has Raymond James' book value per share changed over the last 9 years?

Over the last 9 years, Raymond James' book value per share changed from 31.41 in 2015 to 56.30 in 2024, a change of 79.3%.

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This page (NYSE:RJF) was last updated on 4/15/2025 by MarketBeat.com Staff

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Raymond James (RJF) Financials

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Raymond James (RJF) Financials

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