Raymond James Financial

RJF

Financial - Capital Markets · Financial Services

Also trades as: 0KU1.L

Price

$179.77

-0.25 (-0.14%)

Market Cap

$34.53B

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 12, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−2.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 211.2M (2021) → 206.6M (2025)

Raymond James Financial is a financial services company that helps people manage and invest their money. Its main businesses include wealth management, investment banking, and stock brokerage services. The company works with individual investors, businesses, and governments, and is one of the larger independent financial advisory firms in the United States.

Raymond James makes money by charging fees and commissions on investment accounts, earning interest on loans and deposits through its banking arm, and collecting fees for helping companies raise money or complete mergers. It operates mainly in the United States, with some presence in Canada and Europe, and reported roughly $12 billion in annual revenue in recent years. Its large network of independent financial advisors is a key competitive strength, since those advisors bring loyal client relationships that are difficult for rivals to pull away. The main risk the company faces is that falling stock markets or rising interest rate swings can reduce client assets and hurt fee revenue.

Winston Score History

Politician Trades

9 trades / 12mo

4 Congressional buys and 5 sells on RJF in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+15.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+41.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

10.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$0 cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Raymond James Financial is a rare growth stock that's already generating positive cash flow while growing at 15%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

66.2%

Premium pricing power — 66.2% gross margin

Operating Margin

17.2%

Healthy — 17.2% operating margin

ROCE

N/A

Data not available

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Growth

Sales YoY

+9.1%

Steady sales growth (+9.1% YoY)

EPS YoY

+12.0%

Earnings growing (+12.0% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

82%

Modest — 82% of profit becomes cash

FCF Margin

10.3%

Modest free cash flow (10.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

3.37x

Tight — interest eats into profit (3.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

15.4x

Fair value — P/E 15.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+3.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.4 → 12.4)

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Dividends

Dividend Yield

1.20%

Small dividend — 1.20% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+8.7%

Dividend growing modestly (8.7% YoY)

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