30 years of historical data (1996–2025) · Financial Services · Financial - Capital Markets
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Raymond James Financial, Inc. trades at 14.9x earnings, 6% above its 5-year average of 14.0x, sitting at the 53rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.8x, the stock trades at a premium of 8%. On a free-cash-flow basis, the stock trades at 13.5x P/FCF, 26% above the 5-year average of 10.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $30.3B | $35.7B | $26.0B | $21.8B | $21.3B | $19.5B | $10.2B | $11.9B | $13.7B | $12.4B | $8.4B |
| Enterprise Value | $23.5B | $28.8B | $19.0B | $15.9B | $18.9B | $15.5B | $8.3B | $10.5B | $12.8B | $12.0B | $9.2B |
| P/E Ratio → | 14.86 | 16.76 | 12.62 | 12.60 | 14.16 | 13.92 | 12.47 | 11.50 | 15.98 | 19.45 | 15.91 |
| P/S Ratio | 1.91 | 2.24 | 1.76 | 1.70 | 1.91 | 1.99 | 1.26 | 1.50 | 1.86 | 1.92 | 1.54 |
| P/B Ratio | 2.53 | 2.85 | 2.23 | 2.14 | 2.26 | 2.35 | 1.42 | 1.79 | 2.12 | 2.17 | 1.66 |
| P/FCF | 13.50 | 15.88 | 13.33 | — | — | 2.97 | 2.58 | 27.05 | 18.26 | — | — |
| P/OCF | 12.46 | 14.65 | 12.06 | — | 295.50 | 2.93 | 2.50 | 20.58 | 15.50 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Raymond James Financial, Inc.'s enterprise value stands at 4.9x EBITDA, 32% below its 5-year average of 7.2x. The Financial Services sector median is 11.1x, placing the stock at a 55% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.81 | 1.29 | 1.24 | 1.69 | 1.58 | 1.03 | 1.33 | 1.74 | 1.86 | 1.69 |
| EV / EBITDA | 4.94 | 6.06 | 6.74 | 6.52 | 8.72 | 8.03 | 7.12 | 7.07 | 9.10 | 11.87 | 10.45 |
| EV / EBIT | 5.15 | 6.32 | 7.20 | 6.99 | 9.34 | 8.63 | 7.93 | 7.64 | 9.79 | 12.95 | 11.39 |
| EV / FCF | — | 12.83 | 9.76 | — | — | 2.35 | 2.11 | 23.94 | 17.11 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Raymond James Financial, Inc. earns an operating margin of 28.7%, above the Financial Services sector average of 21.9%. Operating margins have expanded from 17.8% to 28.7% over the past 3 years, signaling improving operational efficiency. ROE of 17.7% indicates solid capital efficiency, compared to the sector median of 9.1%. ROIC of 20.9% represents excellent returns on invested capital versus a sector median of 5.4%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.2% | 88.2% | 85.4% | 88.3% | 96.4% | 98.8% | 94.9% | 96.2% | 97.0% | 97.4% | 97.4% |
| Operating Margin | 28.7% | 28.7% | 17.9% | 17.8% | 18.1% | 18.3% | 13.0% | 17.3% | 17.8% | 14.3% | 14.9% |
| Net Profit Margin | 13.4% | 13.4% | 14.0% | 13.5% | 13.5% | 14.3% | 10.1% | 13.0% | 11.6% | 9.9% | 9.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.7% | 17.7% | 18.9% | 17.7% | 17.0% | 18.1% | 11.8% | 15.8% | 14.1% | 11.8% | 10.7% |
| ROA | 2.5% | 2.5% | 2.6% | 2.2% | 2.1% | 2.6% | 1.9% | 2.7% | 2.4% | 1.9% | 1.8% |
| ROIC | 20.9% | 20.9% | 13.5% | 12.7% | 12.3% | 12.1% | 7.9% | 11.3% | 10.9% | 8.4% | 8.4% |
| ROCE | 22.0% | 22.0% | 14.3% | 13.2% | 12.7% | 12.6% | 8.4% | 12.0% | 12.1% | 9.0% | 8.9% |
Solvency and debt-coverage ratios — lower is generally safer
Raymond James Financial, Inc. carries a Debt/EBITDA ratio of 1.0x, which is very conservative (77% below the sector average of 4.1x). The company holds a net cash position — cash of $11.4B exceeds total debt of $4.5B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.35 | 0.34 | 0.40 | 0.38 | 0.49 | 0.39 | 0.41 | 0.58 | 0.49 |
| Debt / EBITDA | 0.96 | 0.96 | 1.43 | 1.42 | 1.75 | 1.65 | 3.01 | 1.74 | 1.87 | 3.25 | 2.81 |
| Net Debt / Equity | — | -0.55 | -0.60 | -0.57 | -0.25 | -0.49 | -0.26 | -0.21 | -0.13 | -0.07 | 0.16 |
| Net Debt / EBITDA | -1.44 | -1.44 | -2.47 | -2.39 | -1.10 | -2.09 | -1.59 | -0.92 | -0.61 | -0.38 | 0.94 |
| Debt / FCF | — | -3.05 | -3.57 | — | — | -0.61 | -0.47 | -3.10 | -1.15 | — | — |
| Interest Coverage | 2.47 | 2.47 | 1.26 | 1.66 | 6.63 | 11.94 | 5.91 | 4.86 | 6.49 | 6.01 | 7.00 |
Net cash position: cash ($11.4B) exceeds total debt ($4.5B)
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.32x is below 1.0, meaning current liabilities exceed current assets — though the company's $11.4B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 0.38x to 0.32x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.32 | 0.32 | 0.38 | 0.38 | 0.32 | 0.41 | 0.51 | 0.43 | 0.44 | 0.44 | 0.35 |
| Quick Ratio | 0.32 | 0.32 | 0.38 | 0.38 | 0.32 | 0.41 | 0.51 | 0.43 | 0.44 | 0.44 | 0.35 |
| Cash Ratio | 0.17 | 0.17 | 0.17 | 0.15 | 0.10 | 0.15 | 0.16 | 0.15 | 0.13 | 0.15 | 0.09 |
| Asset Turnover | — | 0.18 | 0.18 | 0.16 | 0.14 | 0.16 | 0.17 | 0.20 | 0.20 | 0.18 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Raymond James Financial, Inc. returns 5.5% to shareholders annually — split between a 1.3% dividend yield and 4.2% buyback yield. The payout ratio of 19.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.2% | 1.5% | 1.6% | 1.3% | 1.1% | 2.0% | 1.6% | 1.1% | 1.0% | 1.3% |
| Payout Ratio | 19.5% | 19.5% | 18.5% | 20.4% | 18.4% | 15.5% | 25.1% | 18.5% | 17.6% | 20.0% | 21.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 6.0% | 7.9% | 7.9% | 7.1% | 7.2% | 8.0% | 8.7% | 6.3% | 5.1% | 6.3% |
| FCF Yield | 7.4% | 6.3% | 7.5% | — | — | 33.7% | 38.7% | 3.7% | 5.5% | — | — |
| Buyback Yield | 4.2% | 3.6% | 3.8% | 4.0% | 1.0% | 0.8% | 2.9% | 6.6% | 0.5% | 0.3% | 1.9% |
| Total Shareholder Yield | 5.5% | 4.7% | 5.3% | 5.6% | 2.3% | 1.9% | 4.9% | 8.2% | 1.6% | 1.3% | 3.3% |
| Shares Outstanding | — | $207M | $212M | $217M | $215M | $211M | $210M | $216M | $223M | $220M | $217M |
Compare RJF with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| RJFYou | $30B | 14.9 | 4.9 | 13.5 | 88.2% | 28.7% | 17.7% | 20.9% | 1.0 |
| SCHW | $169B | 31.8 | 18.9 | 82.5 | 75.4% | 29.6% | 13.3% | 6.0% | 4.9 |
| HOOD | $67B | 48.6 | 62.0 | — | 82.9% | 35.8% | 19.2% | 6.2% | 6.6 |
| FUTU | $53B | 30.0 | 60.4 | 13.4 | 82.0% | 48.7% | 20.7% | 14.8% | 1.3 |
| LPLA | $24B | 27.5 | 10.4 | — | 25.6% | 13.4% | 20.9% | 16.1% | 2.5 |
| XP | $9B | 13.5 | — | 4.3 | 9.5% | -19.7% | 22.9% | -2.6% | — |
| SF | $8B | 11.8 | 7.3 | 18.1 | 82.9% | 15.8% | 13.3% | 8.4% | 2.7 |
| ETOR | $1B | 3.5 | -7.3 | 5.4 | 5.4% | 2.1% | 26.9% | 26.8% | 0.2 |
| OPY | $899M | 13.5 | 4.5 | — | 32.7% | 21.3% | 8.7% | 15.7% | 2.0 |
| TIGR | $763M | 21.7 | 3.7 | 0.9 | 65.0% | 35.6% | 10.5% | 13.8% | 1.2 |
| SIEB | $77M | 5.8 | 2.7 | 9.1 | 43.4% | 21.7% | 17.1% | 15.4% | 0.4 |
| Financial Services Median | — | 13.8 | 11.1 | 11.2 | 60.2% | 21.9% | 9.1% | 5.4% | 4.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonRaymond James Financial, Inc.'s current P/E ratio is 14.9x. The historical average is 14.5x. This places it at the 53th percentile of its historical range.
Raymond James Financial, Inc.'s current EV/EBITDA is 4.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.5x.
Raymond James Financial, Inc.'s return on equity (ROE) is 17.7%. The historical average is 14.2%.
Based on historical data, Raymond James Financial, Inc. is trading at a P/E of 14.9x. This is at the 53th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Raymond James Financial, Inc.'s current dividend yield is 1.32% with a payout ratio of 19.5%.
Raymond James Financial, Inc. has 88.2% gross margin and 28.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Raymond James Financial, Inc.'s Debt/EBITDA ratio is 1.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.