Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Raymond James Financial saw net revenues climb 16% in its fiscal third quarter, powered by strong investment banking and asset management fee growth. Adjusted diluted earnings per share soared 44% as the company benefited from a lower tax rate and a $58 million swing from a prior-year legal charge. The compensation ratio edged up to 65.7% due to a revenue mix shift, while the firm completed the Clark Capital acquisition and maintained robust capital levels.
Revenue
$4.36B
+13.53% YoY
EPS (Diluted)
$3.01
+41.98% YoY
Source: SEC XBRL
Raymond James Financial (RJF) reported Q3 FY2026 revenue of $4.36B, up 13.5% year over year. RJF's fiscal Q3 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 3.14 | 2.94 | Beat +6.7% |
| Mar 2026 | 2.83 | 2.80 | Beat +1.0% |
| Dec 2025 | 2.86 | 2.91 | Miss -1.6% |
| Sep 2025 | 3.11 | 2.85 | Beat +9.1% |
Adjusted (non-GAAP) EPS of $3.14 versus the $2.94 analyst consensus — a +6.7% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $3.01.
4 reported segments · SEC XBRL
Segment revenue totals $4.57B; with -$208M of reconciling items (corporate, unallocated and eliminations) it ties to the $4.36B of consolidated revenue on the income statement.
Compiled by AI from 10-Q Item 2 of this filing
Net revenues grew 16% year-over-year, driven by higher asset management and related administrative fees from increased PCG fee-based assets, as well as strong investment banking activity in M&A advisory and debt underwriting.
Source: 10-Q Item 2 MD&A
The total compensation ratio increased to 65.7% from 64.8% due to a shift toward fee-based revenues with higher direct compensation costs, while interest-related revenues with lower direct compensation declined.
Source: 10-Q Item 2 MD&A
Non-compensation expenses fell 5%, benefiting from a $58 million legal settlement in the prior-year quarter that did not recur and a $26 million bank loan benefit for credit losses versus a $15 million provision a year ago.
Source: 10-Q Item 2 MD&A
The effective tax rate dropped to 20.7% from 22.6%, primarily due to higher non-taxable valuation gains on corporate-owned life insurance policies.
Source: 10-Q Item 2 MD&A
The company repurchased $400 million of common stock at an average price of $152 per share during the quarter, while completing the Clark Capital acquisition and maintaining a tier 1 leverage ratio of 11.7%.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Raymond James' net interest income and RJBDP fees from third-party banks are sensitive to short-term interest rate changes; the recent rate cuts have pressured these revenues, as reflected in a flat combined $658 million this quarter.
Source: 10-Q Income Statement (XBRL)
The Bank segment's loan portfolio, including SBL, C&I, and CRE loans, is subject to credit risk; while a benefit for credit losses was recorded this quarter, adverse economic conditions could lead to increased provisions.
Source: 10-Q Balance Sheet (XBRL)
A significant portion of revenues comes from asset management fees tied to equity market levels; a market downturn could materially reduce fee income and brokerage activity.
Source: 10-Q Income Statement (XBRL)
The recent acquisitions of Clark Capital and GreensLedge introduce integration risks, including potential cost overruns and culture clashes, which could impact financial results.
Source: 10-Q Cash Flow Statement (XBRL)
As a financial holding company, Raymond James is subject to extensive regulation; changes in capital requirements or client cash sweep rules could adversely affect profitability.
Source: 10-Q Balance Sheet (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 4.36 $B | 3.84 $B | +13.53% |
Net Income $M | 595.00 $M | 436.00 $M | +36.47% |
EPS (Basic) $ | 3.06 $ | 2.16 $ | +41.67% |
EPS (Diluted) $ | 3.01 $ | 2.12 $ | +41.98% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
RJF reported strong financial performance in Q2 FY2026 with a 10.8% increase in revenue and a 9.9% rise in net income, driven by robust operational growth.
RJF reported Q1 FY2026 revenue of $4.18B (+3.5% YoY) but net income declined 6.2% to $563M, with operating cash flow swinging sharply negative to -$10M from $830M a year ago, reflecting elevated balance sheet growth and higher capital deployment.
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