Stifel (SF) earnings

STIFEL FINANCIAL CORP· Financials

Results to: Jun 2026
Latest analysed call: Sep 2026 (Q3 FY26)
Balance sheet to: Dec 2025

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Stifel earnings: last reported Wed, 21 Oct 2026, for the quarter ended Sep 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	1,639 $ million	+9.9% YoY	Quarterly, as filed	Quarter to Jun 2026	Revenue from operations as filed.
Operating margin	Unavailable	—	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	226 $ million	+46.1% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.

Source: Inve data from filed results (SEC filings) · to Jun 2026

Guidance

What management said, and what became of it

10 of 11 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.

STIFEL FINANCIAL CORP management guidance track record on Inve: 24 targets tracked across analysed earnings calls (10 achieved, 1 missed, 13 open).

Target	Original wording	Said	Latest call	Verdict
Q2 FY26 net interest income	$280 million to $290 million	Mar 2026	Jun 2026:Net interest income came in at the higher end of our guidance and $4 million above consensus, driven by higher interest-earning assets. Call transcript, Jun 2026 · no direct link	Achieved
Full-year 2026 balance sheet (loan) growth	up to $4 billion	Dec 2025	Jun 2026:we increased our loan book by $2.6 billion during the quarter, keeping us well on pace to achieve our full year guidance of up to $4 billion of balance sheet growth Call transcript, Jun 2026 · no direct link	On Track

Source: Inve Guidance Tracker for STIFEL FINANCIAL CORP · to Jun 2026

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of STIFEL FINANCIAL CORP's 24 targets was missed. See which ones, and which are quietly gone. The 2 above are the free sample; 22 more targets are in the full ledger.

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Price

$66.68 −1.72% · −$1.17

Last close Oct 23, 2026 · US · USD · Source: Inve

Performance −14.3% 1Y

1Y: $77.79 on 22 Oct 2025 → $66.68. High $88.81 (6 Jan 2026), low $66.06 (19 Oct 2026).

Previous close: $67.85
52-week range: $66.06 – $88.81
One year: −14.20%

Overview

Symbol: SF
Sector: Financials
Exchange: US
Currency: USD

Guidance

What management said, and what became of it

10 of 11 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.

STIFEL FINANCIAL CORP management guidance track record on Inve: 24 targets tracked across analysed earnings calls (10 achieved, 1 missed, 13 open).

Target	Original wording	Said	Latest call	Verdict
Q2 FY26 net interest income	$280 million to $290 million	Mar 2026	Jun 2026:Net interest income came in at the higher end of our guidance and $4 million above consensus, driven by higher interest-earning assets. Call transcript, Jun 2026 · no direct link	Achieved
Full-year 2026 balance sheet (loan) growth	up to $4 billion	Dec 2025	Jun 2026:we increased our loan book by $2.6 billion during the quarter, keeping us well on pace to achieve our full year guidance of up to $4 billion of balance sheet growth Call transcript, Jun 2026 · no direct link	On Track

Source: Inve Guidance Tracker for STIFEL FINANCIAL CORP · to Jun 2026

The full ledger

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Financials

What the filings say

Net profit, year on year: +46% (quarter to jun 2026 against jun 2025).

In $ million. Oldest period first.

Line item	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,476	1,593	1,469	1,491	1,635	1,753	1,666	1,639
Interest	251	228	214	207	205	192	187	188
Profit before tax	217	266	63	214	286	308	326	299
Tax rate	26.8%	8.3%	16.4%	27.5%	26.1%	14.1%	22.9%	24.4%
Net profit	159	244	53	155	211	264	251	226
EPS ($ per share)	1.43	—	0.28	0.94	1.96	—	1.56	1.41

Source: Inve data · income statement, quarterly · to Jun 2026

In $ million. Oldest period first.

Line item	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity capital	11	17	17	17	17	17	17	25
Total liabilities	21,322	20,940	22,365	29,015	31,868	32,433	34,209	35,293
Fixed assets	373	1,108	168	168	200	192	193	197
Total assets	24,520	24,610	26,604	34,050	37,196	37,727	39,896	41,271

Source: Inve data · balance sheet · to Dec 2025

In $ million. Oldest period first.

Line item	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from operations	530	627	1,662	872	1,157	499	490	1,117
Cash from investing	-989	-350	-1,689	-6,966	-4,325	1,045	-2,310	-1,614
Cash from financing	1,748	-1,077	1,199	5,794	3,191	-255	980	91
Net cash flow	1,282	-795	1,178	-303	79	1,295	-846	-395
Capital expenditure	-108	-158	-73	-188	-82	-52	-74	-62
Free cash flow	421	469	1,588	684	1,075	447	417	1,055

Source: Inve data · cash flow · to Dec 2025

SF revenue by segment

Institutional Group grew from 36% to 39% of revenue over the last two years.

SF revenue by business segment, share of consolidated revenue by quarter
Segment	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	YoY growth latest quarter
Global Wealth Management	64%	60%	64%	64%	60%	54%	60%	61%	+13.9%
Institutional Group	36%	40%	36%	36%	40%	46%	40%	39%	+32.7%

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

SF operating KPIs by quarter

SF operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Sep 2026 Q3 FY26	Change vs prior quarter
Return on tangible common equity (ROTCE)	<25% Our annualized return on tangible equity was nearly 25%. Source: earnings call transcript	~24% Return on tangible common equity was approximately 24% for both the quarter and the first half of the year, while tangible book value per share increased 15% over the prior year. Source: earnings call transcript	—	—
Tier 1 leverage ratio	—	11.2% Tier 1 leverage ratio came in at 11.2%, and while the Tier 1 risk-based capital ratio declined to 17.3%, reflecting the deliberate deployment of capital into loan growth. Source: earnings call transcript	10.8% The Tier 1 leverage ratio came in at 10.8%, while the Tier 1 risk-based capital ratio of 17% reflecting the deliberate deployment of capital into loan growth. Source: earnings call transcript	-0.4 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.

Revenue by region

Q2 FY2026 · share of revenue

Americas 94%
GB 3%
CA 2%
Other States 1%

As SF cuts its regions in its filings; they can nest, so they need not add to 100%.

Insider filings

83 filings between Nov 10, 2025 and Jul 23, 2026.

Open market

decisions to buy or sell

Purchases

None

No insider bought shares.

Sales

$423.1K

4 sales by 3 insiders

Compensation

not trading decisions

38: Option exercise — converted options into shares
30: Tax withheld — shares kept back by the company to cover tax

Also filed: 11 gifts.

Who traded

open market only

Insider	Bought	Sold	Last filing
Brown Maryam S.	—	$372.2K	Jul 23, 2026
Rubulotta David	—	$49.7K	Feb 2, 2026
ZEMLYAK JAMES M	—	$1.1K	Jan 29, 2026

Latest filings (50)

Date	Insider	What	Shares	Value
Jul 23, 2026	Brown Maryam S. Director	Sale	2,200	$174.1K
Jul 23, 2026	Brown Maryam S. Director	Sale	2,500	$198.1K
Jun 4, 2026	PEACOCK DAVID A Director	Option exercise	2,812	$0
Jun 4, 2026	Kavanaugh James P. Director	Option exercise	2,812	$0
Jun 4, 2026	Berlew Adam T. Director	Option exercise	2,812	$0
Jun 4, 2026	Markus Maura A. Director	Option exercise	2,812	$0
Jun 4, 2026	Carnoy Lisa Landau Director	Option exercise	2,812	$0
Jun 4, 2026	BROWN MICHAEL W Director	Option exercise	2,812	$0
Jun 4, 2026	Brown Maryam S. Director	Option exercise	2,812	$0
Jun 4, 2026	ZIMMERMAN MICHAEL J Director	Option exercise	2,812	$0
Mar 9, 2026	Raymond Charles Bradford Insider	Option exercise	53,241	$0
Mar 9, 2026	Raymond Charles Bradford Insider	Tax withheld	29,443	$2.15M
Feb 18, 2026	KRUSZEWSKI RONALD J Chief Executive Officer	Option exercise	73,963	$0
Feb 18, 2026	SLINEY DAVID D Chief Operating Officer	Option exercise	11,094	$0
Feb 18, 2026	WEISEL THOMAS W Director	Tax withheld	1,693	$204.0K
Feb 18, 2026	Michaud Thomas B. Senior Vice President	Option exercise	16,179	$0
Feb 18, 2026	WEISEL THOMAS W Director	Option exercise	4,623	$0
Feb 18, 2026	ZEMLYAK JAMES M President	Tax withheld	13,847	$1.67M
Feb 18, 2026	ZEMLYAK JAMES M President	Option exercise	31,434	$0
Feb 18, 2026	Fisher Mark P Senior VP & General Counsel	Option exercise	7,859	$0
Feb 18, 2026	Nesi Victor Director	Option exercise	36,981	$0
Feb 18, 2026	REICHERT CHRISTOPHER K CEO of Stifel Bank & Trust	Tax withheld	3,261	$392.9K
Feb 18, 2026	REICHERT CHRISTOPHER K CEO of Stifel Bank & Trust	Option exercise	7,396	$0
Feb 18, 2026	Nesi Victor Director	Tax withheld	18,879	$2.27M
Feb 18, 2026	Marischen James M Chief Financial Officer	Option exercise	7,859	$0
Feb 18, 2026	Michaud Thomas B. Senior Vice President	Tax withheld	7,983	$961.9K
Feb 18, 2026	Marischen James M Chief Financial Officer	Tax withheld	3,463	$417.3K
Feb 18, 2026	SLINEY DAVID D Chief Operating Officer	Tax withheld	4,887	$588.8K
Feb 18, 2026	Fisher Mark P Senior VP & General Counsel	Tax withheld	4,241	$511.0K
Feb 18, 2026	KRUSZEWSKI RONALD J Chief Executive Officer	Tax withheld	32,581	$3.93M
Feb 2, 2026	Rubulotta David Insider	Sale	400	$49.7K
Jan 30, 2026	Michaud Thomas B. Senior Vice President	Option exercise	2,665	$0
Jan 30, 2026	WEISEL THOMAS W Director	Option exercise	628	$0
Jan 30, 2026	Marischen James M Chief Financial Officer	Tax withheld	691	$87.2K
Jan 30, 2026	Marischen James M Chief Financial Officer	Option exercise	1,568	$0
Jan 30, 2026	REICHERT CHRISTOPHER K CEO of Stifel Bank & Trust	Option exercise	1,568	$0
Jan 30, 2026	Fisher Mark P Senior VP & General Counsel	Tax withheld	931	$117.5K
Jan 30, 2026	Fisher Mark P Senior VP & General Counsel	Option exercise	1,725	$0
Jan 30, 2026	SLINEY DAVID D Chief Operating Officer	Tax withheld	995	$125.6K
Jan 30, 2026	SLINEY DAVID D Chief Operating Officer	Option exercise	2,258	$0
Jan 30, 2026	Nesi Victor Director	Tax withheld	3,522	$444.6K
Jan 30, 2026	REICHERT CHRISTOPHER K CEO of Stifel Bank & Trust	Tax withheld	694	$87.6K
Jan 30, 2026	Nesi Victor Director	Option exercise	6,898	$0
Jan 30, 2026	KRUSZEWSKI RONALD J Chief Executive Officer	Tax withheld	5,525	$697.5K
Jan 30, 2026	KRUSZEWSKI RONALD J Chief Executive Officer	Option exercise	12,542	$0
Jan 30, 2026	WEISEL THOMAS W Director	Tax withheld	260	$32.8K
Jan 30, 2026	Michaud Thomas B. Senior Vice President	Tax withheld	1,315	$166.0K
Jan 30, 2026	ZEMLYAK JAMES M President	Tax withheld	2,487	$314.0K
Jan 30, 2026	ZEMLYAK JAMES M President	Option exercise	5,644	$0
Jan 29, 2026	ZEMLYAK JAMES M President	Sale	9	$1.1K

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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