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Raymond James Financial Inc RJF

Morningstar Rating
$118.46 +1.63 (1.40%)
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Company Report

Raymond James Earnings: 2024 a Trade-Off of Net Interest Income and Capital Markets Revenue

Raymond James reported decent results for its fiscal first quarter ending in December, and similar to other wealth management firms and investment banks, its 2024 results will be affected by the generally offsetting trends of net interest income and capital markets revenue. The company reported net income to common shareholders of $497 million, or $2.32 per diluted share, on $3 billion of net revenue. Net revenue increased 8% from the previous year, as mainly a 13% increase in asset management revenue with more minor contributions in other revenue lines offset a 7% decline in net interest income. We are currently maintaining our $118 fair value estimate for no-moat-rated Raymond James and assess shares are fairly valued.

Price vs Fair Value

RJF is trading within a range we consider fairly valued.
Price
$118.46
Fair Value
$171.00
Uncertainty
High
1-Star Price
$467.90
5-Star Price
$67.20
Economic Moat
Fdnp
Capital Allocation
Fvpfzmv

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

Trading Information

Previous Close Price
$116.83
Day Range
$117.62119.00
52-Week Range
$82.00119.23
Bid/Ask
$47.62 / $118.46
Market Cap
$24.76 Bil
Volume/Avg
824,497 / 968,436

Key Statistics

Price/Earnings (Normalized)
13.88
Price/Sales
2.15
Dividend Yield (Trailing)
1.44%
Dividend Yield (Forward)
1.52%
Total Yield
4.97%

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

Competitors

Valuation

Metric
RJF
BAC
MS
Price/Earnings (Normalized)
13.889.2114.26
Price/Book Value
2.270.991.52
Price/Sales
2.152.722.73
Price/Cash Flow
11.736.648.83
Price/Earnings
RJF
BAC
MS

Financial Strength

Metric
RJF
BAC
MS
Quick Ratio
Current Ratio
Interest Coverage
Quick Ratio
No chart available

Profitability

Metric
RJF
BAC
MS
Return on Assets (Normalized)
2.31%0.99%0.97%
Return on Equity (Normalized)
18.04%12.26%12.60%
Return on Invested Capital (Normalized)
Return on Assets
RJF
BAC
MS
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Economic Moat
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MS
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GS
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TW
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IBKR
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MKTX
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SF
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EVR
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