RJF
Raymond James Financial, Inc.161.96
-0.87-0.53%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q4 '25
AI details, recruiting pipeline strength
Q&A largely reaffirmed prepared remarks on record recruiting and broad growth, but spotlighted the strongest-ever pipeline driven by industry M&A disruptions favoring Raymond James' stable platform over short-term rivals. AI strategy unpacked into infrastructure resilience, service efficiency, and bespoke advice, with next-year spend ramping sharply as a differentiator versus smaller peers. Lower rates eyed to accelerate securities-based lending past 22% YoY. Management will break out recruiting amortization next quarter; buybacks paused briefly for debt but target holds. Pipeline never stronger. Confident tone persists; watch AI execution, margins amid investments.
Key Stats
Market Cap
32.29BP/E (TTM)
15.72Basic EPS (TTM)
10.30Dividend Yield
0.01%Recent Filings
8-K
Record $1.77T client assets
Raymond James reported record client assets under administration of $1.77 trillion as of November 30, 2025, up 10% year-over-year and 1% sequentially, fueled by net inflows from recruiting and higher equity markets. Private Client Group fee-based accounts hit $1,033.3 billion, rising 15% annually. Assets grow briskly. Yet investment banking revenues dropped ~20% in the quarter's first two months due to closing timing.
8-K
Dividend hiked 8%; $2B buyback
Raymond James boosted its quarterly common stock dividend 8% to $0.54 per share, payable January 16, 2026. The board authorized $2 billion in common stock repurchases, replacing a prior $1.5 billion program with $105 million left. No fixed expiration. Repurchases hinge on market conditions and acquisition constraints.
8-K
Full Series B redemption announced
Raymond James announced the full redemption of its 80,500 outstanding shares of 6.375% Series B Preferred Stock and related depositary shares (RJF PrB) on January 2, 2026, at $1,000 per share and $25 per depositary share, excluding any unpaid dividends. No shares will remain outstanding post-redemption. This clears the entire series from circulation.
10-K
FY2025 results
Raymond James Financial posted FY2025 net revenues of $14.1B, up 10% y/y, driven by 14% growth in PCG asset management fees from higher fee-based AUA at $1.01T (up 15%) amid market gains and advisor recruiting, plus 26% higher Capital Markets investment banking on bigger deals. Yet combined net interest income and RJBDP fees fell 4% to $2.6B on lower rates despite 7% asset growth to $77B average; Q4 momentum showed Bank net interest margin steady at 2.68% with SBL up to $19.8B. Pre-tax income edged 3% to $2.7B as expenses rose, ROTCE slipped to 20.6%. Strong liquidity with $3.7B corporate cash funded $1.1B buybacks (7.4M shares). Cyber threats loom large.
8-K
Record $1.75T client assets
Raymond James Financial reported record client assets under administration of $1.75 trillion as of October 31, 2025, up 13% year-over-year and 1% from September amid higher equity markets and net inflows. Private Client Group fee-based accounts hit $1.02 billion, rising 19% annually. Cash sweep balances dipped 2% to $55.5 billion. Pipelines for recruiting and investment banking stay strong.
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