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Raymond James Financial Inc RJF

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Stock XNYS Rating as of
$121.86 −0.09 (0.07%)
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As of Delayed Price Closed
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Company Report

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RJF Earnings: Record Revenue From Asset-Based Fees; Capital Markets Trying to Gain Traction

Michael Wong

Raymond James reported record revenue for its fiscal second quarter (ended March 2024) from record client assets, even as capital markets revenue continues to try to gain traction in the current environment. The company reported second-quarter net income to common shareholders of $474 million, or $2.22 per diluted share, on $3.1 billion of net revenue. The firm's top line increased 9% from a year ago and 3% sequentially, with much of the revenue increase coming from asset-management fees. Raymond James had a record $1.4 trillion of client assets under administration.

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Price vs Fair Value

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RJF is trading at a 8% premium.
Price
$127.14
Fair Value
$251.00
Uncertainty
High
1-Star Price
$315.60
5-Star Price
$76.30
Economic Moat
Jjcql
Capital Allocation
Jwtmgxmj

Bulls Say, Bears Say

Bulls

Additional acquisitions can provide some lift to earnings if the macro environment falters.

Bears

Lower interest rates over the next several years will stifle net interest income growth.

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News

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Trading Information

Previous Close Price
$121.95
Day Range
$120.54–123.62
52-Week Range
$82.00–131.19
Bid/Ask
$120.00 / $139.07
Market Cap
$25.26 Bil
Volume/Avg
1.2 Mil / 1.0 Mil

Key Statistics

Price/Earnings (Normalized)
14.49
Price/Sales
2.18
Dividend Yield (Trailing)
1.43%
Dividend Yield (Forward)
1.48%
Total Yield
4.85%

Company Profile

Raymond James Financial is a financial holding company whose major operations include wealth management, investment banking, asset management, and commercial banking. The company supports more than 8,000 employee and independent contractor financial advisors across the United States, Canada, and the United Kingdom with over $1.2 trillion of assets under administration as of September 2023. Approximately 90% of the company's revenue is from the U.S. and 70% is from the company's wealth-management segment.
Sector
Financial Services
Industry
Capital Markets
Stock Style Box
Mid Core
Total Number of Employees
8,710
Website
https://www.raymondjames.com

Competitors

Valuation

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Metric
RJF
LPLA
BAC
Price/Earnings (Normalized)
 14.4916.9812.26
Price/Book Value
 2.379.561.12
Price/Sales
 2.182.063.11
Price/Cash Flow
 12.2512.147.25
Price/Earnings
RJF
LPLA
BAC

Financial Strength

Metric
RJF
LPLA
BAC
Quick Ratio
 —1.01—
Current Ratio
 —1.71—
Interest Coverage
 —8.73—
Quick Ratio
RJF
LPLA
BAC

Profitability

Metric
RJF
LPLA
BAC
Return on Assets (Normalized)
 2.31%12.77%0.99%
Return on Equity (Normalized)
 18.04%57.46%12.26%
Return on Invested Capital (Normalized)
 —25.01%—
Return on Assets
RJF
LPLA
BAC
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