Stifel Financial Corp

SF: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$<	LOCK\|q>sl	LOCK\|>%k>nKZ

Stifel Financial Earnings: Environment Continues to Look Conducive to Growth

Michael Wong

Jan 31, 2025

Narrow-moat-rated Stifel Financial had record net revenue in 2024, and the environment looks to continue the current positive trend. The company reported full-year net income to common shareholders of $694 million, or $6.25 per diluted share, on $4.97 billion of net revenue. Net revenue increased 14.3% from the previous year with double-digit percentage gains across all revenue lines except for net interest income. We don’t anticipate making a material change to our $97 fair value estimate. We assess the shares as slightly overvalued.

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Stifel Financial Corp

Stifel Financial Earnings: Environment Continues to Look Conducive to Growth

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