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RAYMOND JAMES FINANCIAL INC (RJF) Stock Fundamental Analysis

NYSE:RJF - New York Stock Exchange, Inc. - US7547301090 - Common Stock - Currency: USD

160.66  +1.18 (+0.74%)

After market: 160.66 0 (0%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to RJF. RJF was compared to 233 industry peers in the Capital Markets industry. While RJF is still in line with the averages on profitability rating, there are concerns on its financial health. RJF is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

RJF had positive earnings in the past year.
In the past year RJF had a positive cash flow from operations.
Each year in the past 5 years RJF has been profitable.
RJF had a positive operating cash flow in 4 of the past 5 years.
RJF Yearly Net Income VS EBIT VS OCF VS FCFRJF Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B

1.2 Ratios

With a Return On Assets value of 2.62%, RJF perfoms like the industry average, outperforming 49.79% of the companies in the same industry.
RJF has a better Return On Equity (17.85%) than 84.12% of its industry peers.
RJF has a worse Return On Invested Capital (3.01%) than 63.52% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for RJF is significantly below the industry average of 7.86%.
The 3 year average ROIC (2.70%) for RJF is below the current ROIC(3.01%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.62%
ROE 17.85%
ROIC 3.01%
ROA(3y)2.18%
ROA(5y)2.11%
ROE(3y)16.81%
ROE(5y)15.79%
ROIC(3y)2.7%
ROIC(5y)2.83%
RJF Yearly ROA, ROE, ROICRJF Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

The Profit Margin of RJF (13.93%) is comparable to the rest of the industry.
RJF's Profit Margin has been stable in the last couple of years.
RJF has a Operating Margin of 18.33%. This is in the lower half of the industry: RJF underperforms 62.66% of its industry peers.
In the last couple of years the Operating Margin of RJF has remained more or less at the same level.
With an excellent Gross Margin value of 84.86%, RJF belongs to the best of the industry, outperforming 88.84% of the companies in the same industry.
In the last couple of years the Gross Margin of RJF has declined.
Industry RankSector Rank
OM 18.33%
PM (TTM) 13.93%
GM 84.86%
OM growth 3Y-1.98%
OM growth 5Y0.99%
PM growth 3Y-0.85%
PM growth 5Y1.41%
GM growth 3Y-4.48%
GM growth 5Y-2.34%
RJF Yearly Profit, Operating, Gross MarginsRJF Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

1

2. Health

2.1 Basic Checks

Compared to 1 year ago, RJF has less shares outstanding
RJF has more shares outstanding than it did 5 years ago.
The debt/assets ratio for RJF has been reduced compared to a year ago.
RJF Yearly Shares OutstandingRJF Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
RJF Yearly Total Debt VS Total AssetsRJF Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

2.2 Solvency

Based on the Altman-Z score of 0.08, we must say that RJF is in the distress zone and has some risk of bankruptcy.
RJF has a Altman-Z score of 0.08. This is in the lower half of the industry: RJF underperforms 76.39% of its industry peers.
RJF has a debt to FCF ratio of 30.42. This is a negative value and a sign of low solvency as RJF would need 30.42 years to pay back of all of its debts.
RJF has a Debt to FCF ratio (30.42) which is comparable to the rest of the industry.
RJF has a Debt/Equity ratio of 4.92. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of RJF (4.92) is worse than 84.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 4.92
Debt/FCF 30.42
Altman-Z 0.08
ROIC/WACCN/A
WACCN/A
RJF Yearly LT Debt VS Equity VS FCFRJF Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B

2.3 Liquidity

A Current Ratio of 0.27 indicates that RJF may have some problems paying its short term obligations.
RJF has a Current ratio of 0.27. This is amonst the worse of the industry: RJF underperforms 85.84% of its industry peers.
RJF has a Quick Ratio of 0.27. This is a bad value and indicates that RJF is not financially healthy enough and could expect problems in meeting its short term obligations.
RJF's Quick ratio of 0.27 is on the low side compared to the rest of the industry. RJF is outperformed by 85.84% of its industry peers.
Industry RankSector Rank
Current Ratio 0.27
Quick Ratio 0.27
RJF Yearly Current Assets VS Current LiabilitesRJF Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

5

3. Growth

3.1 Past

RJF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 23.01%, which is quite impressive.
RJF shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 15.29% yearly.
The Revenue has grown by 12.02% in the past year. This is quite good.
Measured over the past years, RJF shows a quite strong growth in Revenue. The Revenue has been growing by 13.21% on average per year.
EPS 1Y (TTM)23.01%
EPS 3Y12.53%
EPS 5Y15.29%
EPS Q2Q%4.76%
Revenue 1Y (TTM)12.02%
Revenue growth 3Y14.62%
Revenue growth 5Y13.21%
Sales Q2Q%9.14%

3.2 Future

RJF is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.23% yearly.
The Revenue is expected to grow by 6.70% on average over the next years.
EPS Next Y4.4%
EPS Next 2Y6.69%
EPS Next 3Y8.07%
EPS Next 5Y7.23%
Revenue Next Year9.02%
Revenue Next 2Y8.09%
Revenue Next 3Y7.29%
Revenue Next 5Y6.7%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
RJF Yearly Revenue VS EstimatesRJF Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5B 10B 15B
RJF Yearly EPS VS EstimatesRJF Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5 10

4

4. Valuation

4.1 Price/Earnings Ratio

RJF is valuated correctly with a Price/Earnings ratio of 15.03.
RJF's Price/Earnings ratio is in line with the industry average.
RJF's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.50.
RJF is valuated correctly with a Price/Forward Earnings ratio of 14.04.
RJF's Price/Forward Earnings is on the same level as the industry average.
RJF's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.44.
Industry RankSector Rank
PE 15.03
Fwd PE 14.04
RJF Price Earnings VS Forward Price EarningsRJF Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

90.99% of the companies in the same industry are more expensive than RJF, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, RJF is valued a bit cheaper than 65.24% of the companies in the same industry.
Industry RankSector Rank
P/FCF 16.41
EV/EBITDA 8.32
RJF Per share dataRJF EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)3.41
PEG (5Y)0.98
EPS Next 2Y6.69%
EPS Next 3Y8.07%

4

5. Dividend

5.1 Amount

RJF has a Yearly Dividend Yield of 1.25%. Purely for dividend investing, there may be better candidates out there.
RJF's Dividend Yield is slightly below the industry average, which is at 7.76.
With a Dividend Yield of 1.25, RJF pays less dividend than the S&P500 average, which is at 2.35.
Industry RankSector Rank
Dividend Yield 1.25%

5.2 History

The dividend of RJF is nicely growing with an annual growth rate of 6.69%!
RJF has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of RJF decreased recently.
Dividend Growth(5Y)6.69%
Div Incr Years1
Div Non Decr Years1
RJF Yearly Dividends per shareRJF Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

18.39% of the earnings are spent on dividend by RJF. This is a low number and sustainable payout ratio.
RJF's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP18.39%
EPS Next 2Y6.69%
EPS Next 3Y8.07%
RJF Yearly Income VS Free CF VS DividendRJF Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B
RJF Dividend Payout.RJF Dividend Payout, showing the Payout Ratio.RJF Dividend Payout.PayoutRetained Earnings

RAYMOND JAMES FINANCIAL INC

NYSE:RJF (7/18/2025, 8:09:42 PM)

After market: 160.66 0 (0%)

160.66

+1.18 (+0.74%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)04-23 2025-04-23/amc
Earnings (Next)07-23 2025-07-23/amc
Inst Owners78.43%
Inst Owner Change-0.02%
Ins Owners0.51%
Ins Owner Change0.08%
Market Cap32.41B
Analysts70.53
Price Target164.22 (2.22%)
Short Float %4.77%
Short Ratio8.07
Dividend
Industry RankSector Rank
Dividend Yield 1.25%
Yearly Dividend1.86
Dividend Growth(5Y)6.69%
DP18.39%
Div Incr Years1
Div Non Decr Years1
Ex-Date07-01 2025-07-01 (0.5)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.05%
Min EPS beat(2)-1.85%
Max EPS beat(2)7.96%
EPS beat(4)3
Avg EPS beat(4)7.26%
Min EPS beat(4)-1.85%
Max EPS beat(4)21.01%
EPS beat(8)4
Avg EPS beat(8)1.36%
EPS beat(12)5
Avg EPS beat(12)-0.05%
EPS beat(16)8
Avg EPS beat(16)2.87%
Revenue beat(2)1
Avg Revenue beat(2)-0.37%
Min Revenue beat(2)-1.59%
Max Revenue beat(2)0.86%
Revenue beat(4)2
Avg Revenue beat(4)0.26%
Min Revenue beat(4)-1.59%
Max Revenue beat(4)3.25%
Revenue beat(8)3
Avg Revenue beat(8)-0.47%
Revenue beat(12)6
Avg Revenue beat(12)0.99%
Revenue beat(16)10
Avg Revenue beat(16)1.78%
PT rev (1m)0.68%
PT rev (3m)-11.49%
EPS NQ rev (1m)-0.57%
EPS NQ rev (3m)-5.32%
EPS NY rev (1m)0.66%
EPS NY rev (3m)-5.99%
Revenue NQ rev (1m)-0.06%
Revenue NQ rev (3m)-3.51%
Revenue NY rev (1m)0.35%
Revenue NY rev (3m)-1.61%
Valuation
Industry RankSector Rank
PE 15.03
Fwd PE 14.04
P/S 2.07
P/FCF 16.41
P/OCF 14.95
P/B 2.65
P/tB 3.13
EV/EBITDA 8.32
EPS(TTM)10.69
EY6.65%
EPS(NY)11.44
Fwd EY7.12%
FCF(TTM)9.79
FCFY6.09%
OCF(TTM)10.75
OCFY6.69%
SpS77.55
BVpS60.53
TBVpS51.34
PEG (NY)3.41
PEG (5Y)0.98
Profitability
Industry RankSector Rank
ROA 2.62%
ROE 17.85%
ROCE 17.56%
ROIC 3.01%
ROICexc 3.47%
ROICexgc 3.61%
OM 18.33%
PM (TTM) 13.93%
GM 84.86%
FCFM 12.62%
ROA(3y)2.18%
ROA(5y)2.11%
ROE(3y)16.81%
ROE(5y)15.79%
ROIC(3y)2.7%
ROIC(5y)2.83%
ROICexc(3y)3.1%
ROICexc(5y)3.29%
ROICexgc(3y)3.24%
ROICexgc(5y)3.43%
ROCE(3y)16.29%
ROCE(5y)15.56%
ROICexcg growth 3Y-5.07%
ROICexcg growth 5Y-2.05%
ROICexc growth 3Y-5.21%
ROICexc growth 5Y-2.1%
OM growth 3Y-1.98%
OM growth 5Y0.99%
PM growth 3Y-0.85%
PM growth 5Y1.41%
GM growth 3Y-4.48%
GM growth 5Y-2.34%
F-Score7
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 4.92
Debt/FCF 30.42
Debt/EBITDA 19.68
Cap/Depr 103.76%
Cap/Sales 1.23%
Interest Coverage 1.42
Cash Conversion 71.01%
Profit Quality 90.6%
Current Ratio 0.27
Quick Ratio 0.27
Altman-Z 0.08
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)94.04%
Cap/Depr(5y)88.31%
Cap/Sales(3y)1.17%
Cap/Sales(5y)1.15%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)23.01%
EPS 3Y12.53%
EPS 5Y15.29%
EPS Q2Q%4.76%
EPS Next Y4.4%
EPS Next 2Y6.69%
EPS Next 3Y8.07%
EPS Next 5Y7.23%
Revenue 1Y (TTM)12.02%
Revenue growth 3Y14.62%
Revenue growth 5Y13.21%
Sales Q2Q%9.14%
Revenue Next Year9.02%
Revenue Next 2Y8.09%
Revenue Next 3Y7.29%
Revenue Next 5Y6.7%
EBIT growth 1Y18.52%
EBIT growth 3Y12.35%
EBIT growth 5Y14.33%
EBIT Next Year-15.86%
EBIT Next 3Y-0.6%
EBIT Next 5Y4%
FCF growth 1Y174.92%
FCF growth 3Y-33.31%
FCF growth 5Y34.75%
OCF growth 1Y186.1%
OCF growth 3Y-31.3%
OCF growth 5Y30.15%