Raymond James Financial (RJF)
Market Price (12/22/2025): $162.035 | Market Cap: $32.2 BilSector: Financials | Industry: Investment Banking & Brokerage
Raymond James Financial (RJF)
Market Price (12/22/2025): $162.035Market Cap: $32.2 BilSector: FinancialsIndustry: Investment Banking & Brokerage
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, FCF Yield is 6.9% | Weak multi-year price returns3Y Excs Rtn is -17% | Key risksRJF key risks include [1] significant financial impacts from specific legal and compliance matters, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -43% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 2.4 Bil, FCF LTM is 2.2 Bil | ||
| Low stock price volatilityVol 12M is 27% | ||
| Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 13% | ||
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 4.8% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Digital & Alternative Assets. Themes include Wealth Management Technology, Private Equity, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, FCF Yield is 6.9% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -43% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 2.4 Bil, FCF LTM is 2.2 Bil |
| Low stock price volatilityVol 12M is 27% |
| Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 13% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 4.8% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Digital & Alternative Assets. Themes include Wealth Management Technology, Private Equity, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -17% |
| Key risksRJF key risks include [1] significant financial impacts from specific legal and compliance matters, Show more. |
Valuation, Metrics & Events
RJF Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The time period requested, from August 31, 2025, to December 22, 2025, is in the future. Therefore, actual historical stock movements and the specific reasons for a -3.5% change for Raymond James Financial (RJF) during this period cannot be provided. However, available information up to December 22, 2025, indicates some general market conditions and company-specific operational data for various months in 2025.
Here are some key points regarding RJF and market conditions in the latter half of 2025 from the search results, which could potentially influence stock performance if similar trends were to materialize:
1. Jobs Report and Economic Slowdown Concerns (September 2025): On September 5, 2025, RJF shares fell 3.3% after a jobs report indicated that employers added significantly fewer jobs than anticipated, and the unemployment rate increased. This fueled investor fears of an economic slowdown, leading to a broader market slip.
2. Investment Banking Revenue Decline (November-December 2025): While client assets and recruiting remained strong, Raymond James reported that investment banking revenues for the first two months of the current quarter (starting October 1, 2025) were down approximately 20% from the preceding quarter, largely due to the timing of closings. This suggests a potential drag on revenue from this segment.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RJF Return | 9% | 59% | 8% | 6% | 41% | 4% | 193% |
| Peers Return | 22% | 52% | 3% | 10% | 38% | 19% | 247% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| RJF Win Rate | 67% | 67% | 58% | 42% | 67% | 58% | |
| Peers Win Rate | 65% | 70% | 55% | 53% | 70% | 55% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| RJF Max Drawdown | -38% | -1% | -14% | -22% | -4% | -20% | |
| Peers Max Drawdown | -48% | -3% | -23% | -18% | -8% | -18% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: SF, LPLA, AMP, MS, SCHW. See RJF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)
How Low Can It Go
| Event | RJF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -32.7% | -25.4% |
| % Gain to Breakeven | 48.6% | 34.1% |
| Time to Breakeven | 322 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -45.6% | -33.9% |
| % Gain to Breakeven | 83.8% | 51.3% |
| Time to Breakeven | 290 days | 148 days |
| 2018 Correction | ||
| % Loss | -31.5% | -19.8% |
| % Gain to Breakeven | 45.9% | 24.7% |
| Time to Breakeven | 745 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -70.0% | -56.8% |
| % Gain to Breakeven | 233.2% | 131.3% |
| Time to Breakeven | 707 days | 1,480 days |
Compare to BAC, WFC, MS, GS, C
In The Past
Raymond James Financial's stock fell -32.7% during the 2022 Inflation Shock from a high on 11/10/2022. A -32.7% loss requires a 48.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to RJF. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 13.5% | 13.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.0% | 2.0% | -0.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.8% | -4.8% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.8% | 5.8% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -12.1% | -12.1% | -12.1% |
| 09302022 | RJF | Raymond James Financial | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -4.8% | 3.3% | -14.8% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 13.5% | 13.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.0% | 2.0% | -0.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.8% | -4.8% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.8% | 5.8% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -12.1% | -12.1% | -12.1% |
| 09302022 | RJF | Raymond James Financial | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -4.8% | 3.3% | -14.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Raymond James Financial
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 170.00 |
| Mkt Cap | 40.0 |
| Rev LTM | 16,598 |
| Op Inc LTM | 1,473 |
| FCF LTM | -152 |
| FCF 3Y Avg | 480 |
| CFO LTM | 203 |
| CFO 3Y Avg | 609 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.0% |
| Rev Chg 3Y Avg | 8.0% |
| Rev Chg Q | 18.1% |
| QoQ Delta Rev Chg LTM | 4.3% |
| Op Mgn LTM | 9.5% |
| Op Mgn 3Y Avg | 13.7% |
| QoQ Delta Op Mgn LTM | -3.4% |
| CFO/Rev LTM | 7.1% |
| CFO/Rev 3Y Avg | 9.8% |
| FCF/Rev LTM | 5.1% |
| FCF/Rev 3Y Avg | 8.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 40.0 |
| P/S | 2.6 |
| P/EBIT | 15.3 |
| P/E | 18.5 |
| P/CFO | -7.1 |
| Total Yield | 6.2% |
| Dividend Yield | 0.2% |
| FCF Yield 3Y Avg | 3.4% |
| D/E | 0.1 |
| Net D/E | -0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 9.2% |
| 3M Rtn | 6.5% |
| 6M Rtn | 10.8% |
| 12M Rtn | 17.5% |
| 3Y Rtn | 69.9% |
| 1M Excs Rtn | 4.3% |
| 3M Excs Rtn | 4.2% |
| 6M Excs Rtn | -2.9% |
| 12M Excs Rtn | 2.7% |
| 3Y Excs Rtn | -6.1% |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/22/2025 | -0.6% | -4.7% | -8.9% |
| 7/23/2025 | 3.7% | 5.3% | 0.7% |
| 4/23/2025 | 1.4% | 1.3% | 8.2% |
| 1/29/2025 | -0.8% | -3.7% | -10.1% |
| 10/23/2024 | 7.3% | 8.5% | 19.2% |
| 7/24/2024 | 5.2% | 3.4% | 3.6% |
| 4/24/2024 | -4.4% | -3.9% | -3.3% |
| 1/24/2024 | 1.2% | -2.1% | 5.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 15 |
| # Negative | 10 | 9 | 7 |
| Median Positive | 3.7% | 4.4% | 8.2% |
| Median Negative | -3.2% | -4.7% | -7.9% |
| Max Positive | 7.3% | 11.4% | 23.3% |
| Max Negative | -7.8% | -12.5% | -10.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11252025 | 10-K 9/30/2025 |
| 6302025 | 8062025 | 10-Q 6/30/2025 |
| 3312025 | 5072025 | 10-Q 3/31/2025 |
| 12312024 | 2072025 | 10-Q 12/31/2024 |
| 9302024 | 11262024 | 10-K 9/30/2024 |
| 6302024 | 8062024 | 10-Q 6/30/2024 |
| 3312024 | 5072024 | 10-Q 3/31/2024 |
| 12312023 | 2072024 | 10-Q 12/31/2023 |
| 9302023 | 11212023 | 10-K 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5082023 | 10-Q 3/31/2023 |
| 12312022 | 2032023 | 10-Q 12/31/2022 |
| 9302022 | 11222022 | 10-K 9/30/2022 |
| 6302022 | 8082022 | 10-Q 6/30/2022 |
| 3312022 | 5092022 | 10-Q 3/31/2022 |
| 12312021 | 2082022 | 10-Q 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |