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Raymond James Financial Inc - Stock Quote RJF

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Morningstar's Raymond James Financial Inc Stock Analysis

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Capital Allocation


Acquisitions, Interest Rates, and Wealth Management Will Support Raymond James

Michael Wong, CFA, CPA Sector Director

Analyst Note

| Michael Wong, CFA, CPA |

Compared with more pure-play investment banks, Raymond James’s revenue and earnings will hold up better from a combination of acquisitions, interest rates, and a relatively large wealth management business. The company reported net income of $323 million, or $1.52 per diluted share, on $2.7 billion of net revenue. Net revenue increased 13% from a year ago, primarily from higher client assets and asset management revenue, but sequentially decreased 4%, primarily from a 45% decline in investment banking revenue. Net income decreased 9% from the previous year and 28% sequentially with much of the decline related to the company’s capital markets business. We don’t anticipate making a significant change to our $99 fair value estimate for no-moat Raymond James.

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Raymond James Financial Inc's Company Profile

Business Description

Raymond James Financial is a financial holding company whose major operations include wealth management, investment banking, asset management, and commercial banking. The company has more than 14,000 employees and supports more than 5,000 independent contractor financial advisors across the United States, Canada, and the United Kingdom. Approximately 90% of the company's revenue is from the U.S. and 70% is from the company's wealth management segment.

880 Carillon Parkway
Saint Petersburg, FL, 33716
T +1 727 567-1000
Sector Financial Services
Industry Capital Markets
Most Recent Earnings Mar 31, 2022
Fiscal Year End Sep 30, 2022
Stock Type Cyclical
Employees 15,000

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