Financials Raymond James Financial, Inc.

Equities

RJF

US7547301090

Investment Banking & Brokerage Services

Market Closed - Nyse Other stock markets 21:00:02 06/02/2026 GMT			5-day change	1st Jan Change
172.14 ^USD	+2.81%		+2.70%	+7.19%

02-05	Bank of England leaves rates steady after tight vote, sterling falls	RE
02-03	Ring Energy, Inc. Appoints Sonu Johl as Executive Vice President and Treasurer, Effective February 27, 2026	CI

Projected Income Statement: Raymond James Financial, Inc.

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	9,760	11,003	11,619	12,821	14,065	15,624	16,868	17,620
Change	-	12.74%	5.6%	10.35%	9.7%	11.08%	7.96%	4.46%
EBITDA	1,893	2,267	2,577	2,867	-	-	-	-
Change	-	19.76%	13.67%	11.25%	-	-	-	-
EBIT ¹	1,759	2,122	2,412	2,688	2,751	3,084	3,414	3,284
Change	-	20.64%	13.67%	11.44%	2.34%	12.1%	10.71%	-3.81%
Interest Paid ¹	-150	-305	-1,373	-2,102	-1,847	-1,607	-1,470	-1,392
Earnings before Tax (EBT) ¹	1,791	2,022	2,280	2,643	2,714	3,060	3,363	3,143
Change	-	12.9%	12.76%	15.92%	2.69%	12.76%	9.88%	-6.55%
Net income ¹	1,403	1,505	1,733	2,063	2,130	2,321	2,545	2,615
Change	-	7.27%	15.15%	19.04%	3.25%	8.96%	9.66%	2.74%
Announcement Date	27/10/21	26/10/22	25/10/23	23/10/24	22/10/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: September	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	2,222	2,372	2,471	2,695	2,781	2,673	2,718	2,831	2,786	2,873	2,907	3,053	3,013	3,118	3,228	3,462	3,537	3,403	3,398	3,727	3,735	3,831	3,931	4,111	4,037	4,122	4,233	4,438
Change	-	6.75%	4.17%	9.07%	3.19%	-3.88%	1.68%	4.16%	-1.59%	3.12%	1.18%	5.02%	-1.31%	3.48%	3.53%	7.25%	2.17%	-3.79%	-0.15%	9.68%	0.21%	2.57%	2.61%	4.57%	-1.79%	2.11%	2.68%	4.85%
EBITDA	445	447	399	602	582	488	-	690	706	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	0.45%	-10.74%	50.88%	-3.32%	-16.15%	-	-	2.32%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	413	415	366	565	547	454	471	650	666	585	540	621	642	630	634	782	749	687	578	737	728	758.8	775.7	815.6	802.5	-	-	-
Change	-	0.48%	-11.81%	54.37%	-3.19%	-17%	3.74%	38%	2.46%	-12.16%	-7.69%	15%	3.38%	-1.87%	0.63%	23.34%	-4.22%	-8.28%	-15.87%	27.51%	-1.22%	4.23%	2.23%	5.14%	-1.61%	-	-	-
Charge d'intérêts ¹	-38	-37	-40	-35	-37	-38	-60	-170	-241	-284	-386	-462	-507	-520	-534	-541	-498	-442	-444	-463	-441	-406.2	-385.7	-373.4	-385.5	-387.5	-392	-394
Earnings before Tax (EBT) ¹	399	447	385	560	558	433	415	616	652	557	486	585	630	609	644	760	749	671	563	731	728	743.7	764.3	817.7	-	-	-	-
Change	-	12.03%	-13.87%	45.45%	-0.36%	-22.4%	-4.16%	48.43%	5.84%	-14.57%	-12.75%	20.37%	7.69%	-3.33%	5.75%	18.01%	-1.45%	-10.41%	-16.1%	29.84%	-0.41%	2.16%	2.77%	6.98%	-	-	-	-
Net income ¹	312	355	307	429	446	323	299	437	507	425	369	432	497	474	491	601	599	493	435	603	562	563.7	583.1	619	598.1	607.9	637.3	695.2
Change	-	13.78%	-13.52%	39.74%	3.96%	-27.58%	-7.43%	46.15%	16.02%	-16.17%	-13.18%	17.07%	15.05%	-4.63%	3.59%	22.4%	-0.33%	-17.7%	-11.76%	38.62%	-6.8%	0.3%	3.46%	6.14%	-3.37%	1.64%	4.82%	9.1%
Announcement Date	28/01/21	28/04/21	28/07/21	27/10/21	26/01/22	27/04/22	27/07/22	26/10/22	25/01/23	26/04/23	26/07/23	25/10/23	24/01/24	24/04/24	24/07/24	23/10/24	29/01/25	23/04/25	23/07/25	22/10/25	28/01/26	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Raymond James Financial, Inc.

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt	-4,306	-	-6,174	-7,909	-	-	-	-
Change	-	-	-	-28.1%	-	-	-	-
Announcement Date	27/10/21	26/10/22	25/10/23	23/10/24	22/10/25	-	-	-

Estimates

Cash Flow Forecast: Raymond James Financial, Inc.

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	74	91	173	205	188	193	204	209
Change	-	22.97%	90.11%	18.5%	-8.29%	2.66%	5.7%	2.45%
Free Cash Flow (FCF) ¹	6,551	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	27/10/21	26/10/22	25/10/23	23/10/24	22/10/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Raymond James Financial, Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	19.4%	20.6%	22.18%	22.36%	-	-	-	-
EBIT Margin (%)	-	18.02%	19.29%	20.76%	20.97%	19.56%	19.74%	20.24%	18.64%
EBT Margin (%)	-	18.35%	18.38%	19.62%	20.61%	19.3%	19.59%	19.94%	17.84%
Net margin (%)	-	14.38%	13.68%	14.92%	16.09%	15.14%	14.86%	15.09%	14.84%
FCF margin (%)	-	67.12%	-	-	-	-	-	-	-
FCF / Net Income (%)	-	466.93%	-	-	-	-	-	-	-
Profitability
ROA	-	2.73%	2.11%	2.18%	2.56%	2.49%	2.6%	2.71%	2.5%
ROE	-	19.5%	17%	17.7%	18.9%	17.7%	18.83%	19.57%	20.07%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	0.76%	0.83%	1.49%	1.6%	1.34%	1.24%	1.21%	1.19%
CAPEX / EBITDA (%)	-	3.91%	4.01%	6.71%	7.15%	-	-	-	-
CAPEX / FCF (%)	-	1.13%	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	31.37	0.3344	-	-	-	-	-	-
Change	-	-	-98.93%	-	-	-	-	-	-
Dividend per Share ¹	-	1.03	1.36	1.68	1.8	1.95	2.18	2.372	2.673
Change	-	-	32.04%	23.53%	7.14%	8.33%	11.79%	8.79%	12.72%
Book Value Per Share ¹	-	40.08	43.41	48.54	57.03	62.72	65.97	72.56	79.41
Change	-	-	8.31%	11.82%	17.49%	9.98%	5.18%	9.99%	9.44%
EPS ¹	-	6.63	6.98	7.97	9.7	10.3	11.69	13.19	14.15
Change	-	-	5.28%	14.18%	21.71%	6.19%	13.52%	12.77%	7.32%
Nbr of stocks (in thousands)	-	205,788	215,825	208,842	205,943	199,384	197,210	197,210	197,210
Announcement Date	-	27/10/21	26/10/22	25/10/23	23/10/24	22/10/25	-	-	-