Financials · Investment Banking & Brokerage · US stock · price as of 22 Oct 2026
Key indicators
Price
$159.19
52-week range
$138.82 – $182.73
Market cap
$31.4B
P/E (trailing)
13.9×
Dividend yield
1.4%
Revenue (last 12 months)
$17.0B
Revenue growth (3y a year)
12.1%
Price / book
2.5×
Return on equity
18.2%
Fair value
Fair value (average of valid models)$188.39 middle half of models $159 – $191
Versus priceUndervalued+18% to fair value
P/E multiple
$159.59
P/B multiple
$157.55
Dividend discount, stable
$163.95
Dividend discount, multi-stage
$272.47
Model uncertainty
Medium
X-Ray Score
55/ 100 · Low confidence · ahead of 62% of sector peers
Valuation61
Growth64
Profitability39
Financial health–
Dividends59
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Raymond James Financial is a diversified financial services firm that provides wealth management, investment banking, trading, asset management and banking services. Financial advisors affiliated with its private client group manage investments for individuals, families and institutions. Its capital markets business advises and trades for companies and investors, while its asset management arm runs investment strategies and Raymond James Bank lends to clients and supports the group.
Revenue comes from advisory fees and commissions on client assets, investment banking and brokerage fees, asset management fees and interest income from the bank. Revenue was $17.0 billion over the last twelve months, with growth of 12.1% a year across the last three years. The site holds no operating margin or leverage figure for the company at present. It pays a dividend with a yield of 1.4%.
StocksXray gives Raymond James Financial Inc an X-Ray Score of 55 out of 100 (low confidence), ahead of 62% of the S&P 500 stocks in its sector. Its strongest lens is growth (64) and its weakest is profitability (39).
Our fair value (the average of the valid models) is $188.39 (range $159.08 to $191.08). At $159.19 the stock trades 15% below that value, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Raymond James Financial Inc (RJF)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$85.84
$93.19
$96.30
$118.75
$169.69
$159.19
Market cap
$18.1B
$20.1B
$20.9B
$25.2B
$35.1B
$31.4B
P/E
12.9×
13.4×
12.1×
12.2×
16.5×
13.9×
Price / book
2.2×
2.1×
2.0×
2.2×
2.8×
2.5×
Dividend yield
1.21%
1.46%
1.74%
1.52%
1.18%
1.36%
Fundamentals checklist ● 3 Good · ● 1 Average · ● 0 Bad · each check graded against the sector
Growth
EPS growth (3y)13.8%Average
Revenue growth (3y)12.1%Good
Growth consistency100%Good
Valuation
Fair value vs price1.2×Good
XStocksXray
Raymond James Financial Inc (RJF)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
9,910
11,308
12,992
14,923
15,912
16,990
Net income
1,403
1,509
1,739
2,068
2,135
2,306
Diluted EPS ($)
6.63
6.98
7.97
9.70
10.30
11.47
Net margin
14.2%
13.3%
13.4%
13.9%
13.4%
13.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
61,891
80,951
78,360
82,992
88,230
94,237
Cash
7,201
6,178
9,313
10,998
11,389
9,977
Total debt
8
1
–
–
–
–
Equity
8,245
9,458
10,214
11,673
12,503
12,699
Dividend per share ($)
1.04
1.36
1.68
1.80
2.00
2.12
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
