Raymond James Financial, Inc. (RJF) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Financial - Capital Markets
EV/EBITDA
↓
5.02
↓-30% vs avg
5yr avg: 7.21
30Y Low2.0·High11.9
P/FCF
↑
13.68
↑+28% vs avg
5yr avg: 10.72
30Y Low1.3·High130.9
P/B Ratio
↑
2.58
+9% vs avg
5yr avg: 2.36
30Y Low1.1·High2.9
ROE
↓
17.7%
-1% vs avg
5yr avg: 17.9%
30Y Low7%·High26%
Debt/EBITDA
↓
0.96
↓-34% vs avg
5yr avg: 1.44
30Y Low0.4·High8.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
RJF Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Raymond James Financial, Inc. trades at 15.1x earnings, 8% 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 13.6x, the stock trades at a premium of 11%. On a free-cash-flow basis, the stock trades at 13.7x P/FCF, 28% 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 | $30.7B | $35.7B | $26.0B | $21.8B | $21.3B | $19.5B | $10.2B | $11.9B | $13.7B | $12.4B | $8.4B |
| Enterprise Value | $23.9B | $28.8B | $19.0B | $15.9B | $18.9B | $15.5B | $8.3B | $10.5B | $12.8B | $12.0B | $9.2B |
| P/E Ratio → | 15.13 | 16.76 | 12.62 | 12.60 | 14.16 | 13.92 | 12.47 | 11.50 | 15.98 | 19.45 | 15.91 |
| P/S Ratio | 1.93 | 2.24 | 1.76 | 1.70 | 1.91 | 1.99 | 1.26 | 1.50 | 1.86 | 1.92 | 1.54 |
| P/B Ratio | 2.58 | 2.85 | 2.23 | 2.14 | 2.26 | 2.35 | 1.42 | 1.79 | 2.12 | 2.17 | 1.66 |
| P/FCF | 13.68 | 15.88 | 13.33 | — | — | 2.97 | 2.58 | 27.05 | 18.26 | — | — |
| P/OCF | 12.62 | 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
RJF EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Raymond James Financial, Inc.'s enterprise value stands at 5.0x EBITDA, 30% below its 5-year average of 7.2x. The Financial Services sector median is 11.4x, placing the stock at a 56% 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 | 5.02 | 6.06 | 6.74 | 6.52 | 8.72 | 8.03 | 7.12 | 7.07 | 9.10 | 11.87 | 10.45 |
| EV / EBIT | 5.23 | 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 | — | — |
RJF Profitability
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 20.3%. 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 9.0%. ROIC of 20.9% represents excellent returns on invested capital versus a sector median of 5.5%.
Margins
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% |
Return on Capital
| 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% |
RJF Leverage & Debt
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 (78% below the sector average of 4.3x). 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)
RJF Liquidity & Efficiency
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 | — | — | — | — | — | — | — | — | — | — | — |
RJF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Raymond James Financial, Inc. returns 5.4% to shareholders annually — split between a 1.3% dividend yield and 4.1% buyback yield. The payout ratio of 19.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 19.5% | 19.5% | 18.5% | 20.4% | 18.4% | 15.5% | 25.1% | 18.5% | 17.6% | 20.0% | 21.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 6.0% | 7.9% | 7.9% | 7.1% | 7.2% | 8.0% | 8.7% | 6.3% | 5.1% | 6.3% |
| FCF Yield | 7.3% | 6.3% | 7.5% | — | — | 33.7% | 38.7% | 3.7% | 5.5% | — | — |
| Buyback Yield | 4.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 5.4% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $207M | $212M | $217M | $215M | $211M | $210M | $216M | $223M | $220M | $217M |
Peer Comparison
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 | $31B | 15.1 | 5.0 | 13.7 | 88.2% | 28.7% | 17.7% | 20.9% | 1.0 |
 SF | $11B | 12.5 | 12.1 | 9.5 | 86.6% | 13.8% | 11.7% | 7.9% | 2.3 |
 LPL | $5B | 31.5 | 3.7 | 7.1 | 13.1% | 2.0% | 2.8% | 2.0% | 2.5 |
 LPLA | $24B | 26.9 | 10.2 | — | 25.6% | 13.4% | 20.9% | 16.1% | 2.5 |
 PJT | $4B | 23.3 | 9.2 | 7.8 | 32.4% | 21.2% | 18.9% | 20.3% | 1.1 |
 HLI | $10B | 24.2 | 17.1 | 12.1 | 38.5% | 21.0% | 19.9% | 15.5% | 0.8 |
 EVR | $15B | 26.5 | 17.9 | 12.5 | 99.4% | 20.5% | 27.8% | 18.8% | 1.4 |
 LAZ | $4B | 20.4 | 11.6 | 8.2 | 31.8% | 13.0% | 27.0% | 9.5% | 5.7 |
 MS | $356B | 21.9 | 27.0 | 7.7 | 57.1% | 19.1% | 15.5% | 3.1% | 17.9 |
 GS | $348B | 21.4 | 33.0 | — | 47.5% | 17.5% | 13.9% | 2.2% | 25.4 |
 WFC | $265B | 13.0 | 17.6 | — | 64.8% | 20.4% | 11.7% | 3.5% | 14.5 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into RJF consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
RJF — Frequently Asked Questions
Quick answers to the most common questions about buying RJF stock.
What is Raymond James Financial, Inc.'s P/E ratio?
Raymond James Financial, Inc.'s current P/E ratio is 15.1x. The historical average is 14.5x. This places it at the 53th percentile of its historical range.
What is Raymond James Financial, Inc.'s EV/EBITDA?
Raymond James Financial, Inc.'s current EV/EBITDA is 5.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.5x.
What is Raymond James Financial, Inc.'s ROE?
Raymond James Financial, Inc.'s return on equity (ROE) is 17.7%. The historical average is 14.2%.
Is RJF stock overvalued?
Based on historical data, Raymond James Financial, Inc. is trading at a P/E of 15.1x. This is at the 53th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Raymond James Financial, Inc.'s dividend yield?
Raymond James Financial, Inc.'s current dividend yield is 1.29% with a payout ratio of 19.5%.
What are Raymond James Financial, Inc.'s profit margins?
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.
How much debt does Raymond James Financial, Inc. have?
Raymond James Financial, Inc.'s Debt/EBITDA ratio is 1.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.