# Raymond James Financial, Inc. (RJF) — Stock CV

Raymond James Financial, Inc. is a $30.4B financial services company. Revenue grew 8.0% over the last year, and it keeps 14¢ of every dollar of sales as profit. It trades at 13.2× earnings — in the cheapest third of its own history.

> Raymond James Financial is a diversified financial services firm that provides wealth management, investment banking, asset management, and capital markets services to individuals, corporations, and municipalities. The firm maintains an extensive catalogue of products and services across its business lines.

## Identity

- **Ticker**: RJF
- **Sector**: Financial Services
- **Industry**: Security Brokers, Dealers & Flotation Companies
- **Headquarters**: ST PETERSBURG, FL
- **Employees**: 3 878
- **Website**: https://www.raymondjames.com
- **Market cap**: $30.4B
- **Last price**: $158.28
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $17.0B
- **Net income**: $2.31B
- **Free cash flow**: $1.44B
- **Net cash**: $5.33B
- **P/E**: 13.2
- **Revenue growth (YoY)**: 8.0%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 67 |
| Growth | 80 |
| Profitability | 85 |
| Health | 53 |
| Quality | 75 |
| Moat | 53 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +8.0% YoY
- [x] Profitable — $2.31B TTM
- [x] Profit growing — +13.8% YoY
- [x] Generates cash — $1.44B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $30.4B market cap
- [ ] Not printing shares — +47.4% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.7 — distress
- [x] Pays a dividend — yield 1.40%
- [x] Valuation not extreme — P/E 13.2

## Experience (career milestones)

- **2026** — It was announced Raymond James had agreed to acquire Clark Capital Management Group, a…
- **FY2025** — Best year on record: $2.13B net income
- **FY2022** — Revenue crossed $10B: $11.3B for the year
- **2017** — The firm purchased Reams Asset Management from UMB Financial Corporation
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $5.52B in first reported year
- **2016** — The firm announced its acquisition of Deutsche Bank Wealth Management's US private client…
- **2012** — They merged with Morgan Keegan & Company, creating one of the country's largest full-service wealth…
- **1964** — It merged with Raymond & Associates, founded by Edward Raymond in 1963, to form Raymond James & Associates
- **1962** — Raymond James was founded in 1962 when St

## Strengths

- High gross margin (87.3%)
- Net cash position after subtracting debt from cash
- High returns on invested capital (ROIC 29.8%)

## Watch-outs

- Altman Z-Score 0.67 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $9.91B | $1.40B | $6.55B |
| FY2022 | $11.3B | $1.51B | -$19.0M |
| FY2023 | $13.0B | $1.74B | -$3.69B |
| FY2024 | $14.9B | $2.07B | $1.95B |
| FY2025 | $15.9B | $2.13B | $2.25B |

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Source: https://stockcv.com/RJF — derived from company filings; may be delayed or incomplete. Information, not investment advice.