Jun 2026 (Q3 FY26) — Jul 22, 2026
Raymond James Q3 FY26 — Record Revenues and EPS Driven by Diversified Model and Strong Recruiting
Read the full callRaymond James (RJF) earnings
- Jun 2026
- Jun 2026 (Q3 FY26)
- Sep 2025
Raymond James earnings: last reported Wed, 22 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,362 | +13.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 595 | +36.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
15 of 18 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted total compensation ratio – Investor Day target of ~65% | 65% or better (approximately 65%) | Jun 2025 | This result is in line with our target of approximately 65% provided at our Analyst and Investor Day and is down 20 basis points sequentially. | Achieved |
| Adjusted pretax margin – Investor Day target of over 20% | over 20% (later referenced as approximately 20%) | Jun 2025 | we achieved adjusted pre-tax margin of 19.9%, in line with our guidance of approximately 20% | Diluted |
| Asset management and related administrative fees – sequential quarter guide (Q4 FY26) | increase approximately 11% | Jun 2026 | we expect fiscal fourth quarter 2026 asset management and related administrative fees to increase approximately 11% from the third quarter level | New |
3 of RAYMOND JAMES FINANCIAL INC's 28 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 25 more targets are in the full ledger.
Claimed
- Generated record quarterly revenues of $3.93 billion, representing 16% growth over the prior year quarter.
- Achieved pre-tax income of $750 million, an increase of 33% compared to the year-ago quarter.
- Reported record adjusted earnings per diluted share of $3.14.
- Ended the quarter with record client assets under administration of $1.86 trillion, up 18% year-over-year.
- Domestic net new assets were $21.7 billion, representing a 5.5% annualized growth rate.
- Recruited financial advisers with trailing 12-month production totaling $156 million and nearly $23 billion of client assets in Q3.
Qualified
- Capital Markets activity levels remain below a normalized environment, especially in the middle market and sponsor-driven client segments.
- Non-compensation expenses increased due to elevated legal expenses associated with a putative class action lawsuit related to cash sweep programs.
- Asset Management segment margin was impacted by the partial quarter contribution and acquisition-related expenses from the Clark Capital acquisition.
Price
$153.44 −2.13% · −$3.34
Performance −5.0% 1Y
1Y: $161.49 on 17 Oct 2025 → $153.44. High $181.18 (12 Aug 2026), low $140.89 (30 Mar 2026).
- Previous close
- $156.78
- 52-week range
- $140.89 – $181.18
- One year
- −6.99%
Overview
- Symbol
- RJF
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
15 of 18 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted total compensation ratio – Investor Day target of ~65% | 65% or better (approximately 65%) | Jun 2025 | This result is in line with our target of approximately 65% provided at our Analyst and Investor Day and is down 20 basis points sequentially. | Achieved |
| Adjusted pretax margin – Investor Day target of over 20% | over 20% (later referenced as approximately 20%) | Jun 2025 | we achieved adjusted pre-tax margin of 19.9%, in line with our guidance of approximately 20% | Diluted |
| Asset management and related administrative fees – sequential quarter guide (Q4 FY26) | increase approximately 11% | Jun 2026 | we expect fiscal fourth quarter 2026 asset management and related administrative fees to increase approximately 11% from the third quarter level | New |
Claimed
- Generated record quarterly revenues of $3.93 billion, representing 16% growth over the prior year quarter.
- Achieved pre-tax income of $750 million, an increase of 33% compared to the year-ago quarter.
- Reported record adjusted earnings per diluted share of $3.14.
- Ended the quarter with record client assets under administration of $1.86 trillion, up 18% year-over-year.
- Domestic net new assets were $21.7 billion, representing a 5.5% annualized growth rate.
- Recruited financial advisers with trailing 12-month production totaling $156 million and nearly $23 billion of client assets in Q3.
Qualified
- Capital Markets activity levels remain below a normalized environment, especially in the middle market and sponsor-driven client segments.
- Non-compensation expenses increased due to elevated legal expenses associated with a putative class action lawsuit related to cash sweep programs.
- Asset Management segment margin was impacted by the partial quarter contribution and acquisition-related expenses from the Clark Capital acquisition.
The full ledger
Open RAYMOND JAMES FINANCIAL INC’s full ledger
A free account opens 5 company ledgers a month. All 28 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q2 FY26) — Apr 22, 2026
Raymond James Financial Q2 FY26 — Record Revenues and Strong Adviser Recruiting
Read the full callDec 2025 (Q1 FY26) — Jan 28, 2026
Raymond James Q1 FY26 — Strong Recruiting Momentum and Capital Deployment
Read the full callEvery analysed call
Raymond James earnings calls (RJF)
Financials
What the filings say
Net profit, year on year: +36% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,003 | 4,035 | 3,845 | 3,842 | 4,190 | 4,176 | 4,262 | 4,362 |
| Profit before tax | — | 749 | 671 | 563 | — | — | — | — |
| Tax rate | — | 19.9% | 26.2% | 22.6% | — | — | — | — |
| Net profit | 602 | 600 | 495 | 436 | 604 | 563 | 544 | 595 |
| EPS ($ per share) | — | 2.94 | 2.41 | 2.16 | — | 2.85 | 2.76 | 3.06 |
| Line item | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| Reserves | 5,032 | 5,874 | 6,484 | 7,633 | 8,843 | 10,213 | 11,894 | 13,604 |
| Total liabilities | 30,961 | 32,187 | 40,306 | 53,588 | 71,519 | 68,173 | 71,325 | 75,726 |
| Fixed assets | 486 | 527 | 535 | 499 | 503 | 561 | 635 | 670 |
| Total assets | 37,413 | 38,830 | 47,482 | 61,891 | 80,951 | 78,360 | 82,992 | 88,230 |
| Line item | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 884 | 577 | 4,073 | 6,647 | 72 | -3,514 | 2,155 | 2,434 |
| Cash from investing | -3,476 | -1,897 | -4,985 | -5,140 | -7,151 | -274 | -968 | -4,321 |
| Cash from financing | 1,420 | 1,373 | 4,574 | 5,232 | 5,879 | 1,438 | 438 | 2,361 |
| Net cash flow | -1,205 | 30 | 3,663 | 6,815 | -1,790 | -2,111 | 1,800 | 439 |
| Capital expenditure | -134 | -138 | -124 | -74 | -91 | -173 | -205 | -188 |
| Free cash flow | 750 | 439 | 3,949 | 6,573 | -19 | -3,687 | 1,950 | 2,246 |
RJF revenue by segment
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Private Client Group | 85% | 64% | 65% | 65% | 64% | 67% | 86% | 66% | +13.9% |
| Rj Bank | 0% | 21% | 21% | 22% | 21% | 20% | 0% | 19% | +0.7% |
| Capital Markets | 12% | 13% | 11% | 11% | 13% | 10% | 16% | 11% | +23.5% |
| Asset Management | 7% | 7% | 8% | 8% | 7% | 8% | 8% | 8% | +24.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RJF operating KPIs by quarter
| KPI | Mar 2025 Q2 FY25 | Sep 2025 Q4 FY25 | Dec 2025 Q1 FY26 | Mar 2026 Q2 FY26 | Jun 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Net new assets Domestic | $8.8BQuarterly domestic net new assets equaled $8.8 billion, representing a 2.6% annualized growth rate on the beginning of the period Domestic PCG assets.Source: earnings call transcript | <$18BQuarterly domestic net new assets were nearly $18 billion this quarter, representing a 5% annualized growth rate.Source: earnings call transcript | — | $23BIn the fiscal second quarter, quarterly domestic net new assets were $23 billion, representing a 5.8% annualized growth rate.Source: earnings call transcript | $21.7BDomestic net new assets were $21.7 billion in the fiscal third quarter, representing a 5.5% annualized growth rate.Source: earnings call transcript | -5.7% |
| Net inflows Managed programs | ~$3.7BSequentially, although market values declined we had strong net inflows of approximately $3.7 billion into managed programs on our platform.Source: earnings call transcript | ~$3.6BWe had strong net inflows of approximately $3.6 billion or 7.3% annualized growth rate into managed programs on our platform.Source: earnings call transcript | — | — | — | — |
| Tier 1 leverage ratio | 13.3%With a Tier 1 leverage ratio of 13.3% and total capital ratio of 24.8%, we remain well above regulatory requirements.Source: earnings call transcript | 13.1%We ended the quarter with a Tier 1 leverage ratio of 13.1%.Source: earnings call transcript | 12.7%We ended the quarter with a Tier 1 leverage ratio of 12.7%.Source: earnings call transcript | 12.4%We ended the quarter with a Tier 1 leverage ratio of 12.4%.Source: earnings call transcript | 11.7%We ended the quarter with a Tier 1 leverage ratio of 11.7%.Source: earnings call transcript | -0.7 pt |
| Total capital ratio | 24.8%With a Tier 1 leverage ratio of 13.3% and total capital ratio of 24.8%, we remain well above regulatory requirements.Source: earnings call transcript | 24.1%With a Tier 1 leverage ratio of 13.1% and a total capital ratio of 24.1%, we remain well above regulatory requirements with approximately $2.6 billion of excess capital capacity to deploy before reaching our targeted Tier 1 capital ratio of 10%.Source: earnings call transcript | 24.3%With a Tier 1 leverage ratio of 12.7% and a total capital ratio of 24.3%, we remain well above regulatory requirements with approximately $2.4 billion of excess capital capacity to deploy before reaching our targeted Tier 1 capital ratio of 10%.Source: earnings call transcript | 24%With a Tier 1 leverage ratio of 12.4% and a total capital ratio of 24%, we remain well above regulatory requirements with approximately $2.1 billion of excess capital capacity to deploy before reaching our conservative Tier 1 leverage ratio target of 10%.Source: earnings call transcript | 22.5%With a Tier 1 leverage ratio of 11.7% and a total capital ratio of 22.5%, we remain well above regulatory requirements with approximately $1.5 billion of excess capital capacity to deploy before reaching our conservative Tier 1 leverage ratio target of 10%.Source: earnings call transcript | -1.5 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
194 filings between Nov 5, 2025 and Aug 28, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$30.39M
8 sales by 5 insiders
Compensation
not trading decisions- 18
- Award — granted as compensation
- 72
- Option exercise — converted options into shares
- 77
- Tax withheld — shares kept back by the company to cover tax
Also filed: 19 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| REILLY PAUL C | — | $21.32M | Dec 15, 2025 |
| Allaire Bella Loykhter | — | $5.54M | Aug 28, 2026 |
| Elwyn Tashtego S | — | $1.76M | Jul 28, 2026 |
| Raney Steven M | — | $998.0K | Jul 27, 2026 |
| Santelli Jonathan N | — | $767.1K | Feb 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 28, 2026 | Allaire Bella Loykhter Chief Admin Officer | Sale | 7,500 | $1.33M |
| Aug 20, 2026 | Helal Tarek Chief Strategy Officer | Gift | 23,397 | $0 |
| Aug 20, 2026 | Helal Tarek Chief Strategy Officer | Gift | 23,397 | $0 |
| Aug 18, 2026 | Curtis Scott A Chief Operating Officer | Gift | 1,000 | $0 |
| Jul 28, 2026 | Elwyn Tashtego S President, PCG | Sale | 10,000 | $1.76M |
| Jul 27, 2026 | Raney Steven M Executive Chair RJBank | Sale | 5,770 | $998.0K |
| Mar 19, 2026 | Allaire Bella Loykhter Chief Admin Officer | Sale | 29,551 | $4.21M |
| Feb 28, 2026 | Aisenbrey Christopher S Chief Human Resources Officer | Tax withheld | 132 | $20.2K |
| Feb 28, 2026 | Aisenbrey Christopher S Chief Human Resources Officer | Option exercise | 600 | $0 |
| Feb 24, 2026 | Edwards Jeffrey N Director | Gift | 1,504 | $0 |
| Feb 24, 2026 | Edwards Jeffrey N Director | Gift | 1,504 | $0 |
| Feb 19, 2026 | Mistarz Cecily Director | Option exercise | 250 | $0 |
| Feb 19, 2026 | GARCIA ART A Director | Award | 1,303 | $0 |
| Feb 19, 2026 | Mistarz Cecily Director | Option exercise | 250 | $0 |
| Feb 19, 2026 | MCDANIEL RAYMOND W Director | Award | 1,303 | $0 |
| Feb 19, 2026 | DEBEL MARLENE Director | Option exercise | 1,253 | $0 |
| Feb 19, 2026 | Mistarz Cecily Director | Option exercise | 1,253 | $0 |
| Feb 19, 2026 | Mistarz Cecily Director | Award | 1,303 | $0 |
| Feb 19, 2026 | Begor Mark W Director | Award | 1,303 | $0 |
| Feb 19, 2026 | Seshadri Raj Director | Award | 1,303 | $0 |
| Feb 19, 2026 | Gates Anne Director | Award | 1,303 | $0 |
| Feb 19, 2026 | Esty Benjamin Director | Award | 1,303 | $0 |
| Feb 19, 2026 | Edwards Jeffrey N Director | Option exercise | 1,253 | $0 |
| Feb 19, 2026 | MCGEARY RODERICK C Director | Award | 1,303 | $0 |
| Feb 4, 2026 | Santelli Jonathan N EVP, General Counsel | Sale | 4,500 | $767.1K |
| Jan 30, 2026 | Edwards Jeffrey N Director | Gift | 20,505 | $0 |
| Jan 30, 2026 | Edwards Jeffrey N Director | Gift | 20,505 | $0 |
| Dec 30, 2025 | Helal Tarek Chief Strategy Officer | Gift | 80 | $0 |
| Dec 30, 2025 | Helal Tarek Chief Strategy Officer | Gift | 81 | $0 |
| Dec 30, 2025 | Helal Tarek Chief Strategy Officer | Gift | 81 | $0 |
| Dec 15, 2025 | Shoukry Paul M CEO | Option exercise | 5,440 | $0 |
| Dec 15, 2025 | Shoukry Paul M CEO | Option exercise | 5,441 | $0 |
| Dec 15, 2025 | Bunn James E President, Capital Markets | Option exercise | 10,428 | $0 |
| Dec 15, 2025 | Aisenbrey Christopher S Chief Human Resources Officer | Gift | 1,223 | $0 |
| Dec 15, 2025 | Aisenbrey Christopher S Chief Human Resources Officer | Tax withheld | 1,207 | $197.8K |
| Dec 15, 2025 | Bunn James E President, Capital Markets | Tax withheld | 4,105 | $672.6K |
| Dec 15, 2025 | Aisenbrey Christopher S Chief Human Resources Officer | Tax withheld | 218 | $35.7K |
| Dec 15, 2025 | Aisenbrey Christopher S Chief Human Resources Officer | Option exercise | 589 | $0 |
| Dec 15, 2025 | Aisenbrey Christopher S Chief Human Resources Officer | Option exercise | 3,264 | $0 |
| Dec 15, 2025 | Haynes Morgan Tarazeta J Chief Audit Executive | Tax withheld | 307 | $50.3K |
| Dec 15, 2025 | Haynes Morgan Tarazeta J Chief Audit Executive | Tax withheld | 138 | $22.6K |
| Dec 15, 2025 | Haynes Morgan Tarazeta J Chief Audit Executive | Tax withheld | 93 | $15.2K |
| Dec 15, 2025 | Haynes Morgan Tarazeta J Chief Audit Executive | Option exercise | 272 | $0 |
| Dec 15, 2025 | Haynes Morgan Tarazeta J Chief Audit Executive | Option exercise | 403 | $0 |
| Dec 15, 2025 | Haynes Morgan Tarazeta J Chief Audit Executive | Option exercise | 898 | $0 |
| Dec 15, 2025 | Aisenbrey Christopher S Chief Human Resources Officer | Tax withheld | 282 | $46.2K |
| Dec 15, 2025 | Shoukry Paul M CEO | Gift | 8,704 | $0 |
| Dec 15, 2025 | Shoukry Paul M CEO | Tax withheld | 2,771 | $454.0K |
| Dec 15, 2025 | Shoukry Paul M CEO | Tax withheld | 2,142 | $351.0K |
| Dec 15, 2025 | Shoukry Paul M CEO | Tax withheld | 2,140 | $350.6K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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