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RAYMOND JAMES FINANCIAL INC

For the period ended Jun 30, 2026. Filed Aug 5, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 5, 2026

RJF$162.81-1.2%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits

Item 1. Financial Statements (Unaudited)

ITEM 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

$ in millions, except per share amountsJune 30, 2026September 30, 2025
Assets:
Cash and cash equivalents$9,977$11,389
Assets segregated for regulatory purposes and restricted cash3,2773,398
Collateralized agreements1,165698
Financial instruments, at fair value:
Trading assets ($1,410 and $1,248 pledged as collateral)1,6271,538
Available-for-sale securities ($8 and $9 pledged as collateral)6,4966,888
Derivative assets3268
Other investments ($20 and $8 pledged as collateral)383390
Brokerage client receivables, net3,3312,821
Other receivables, net2,4651,814
Bank loans, net56,22751,567
Loans to financial advisors, net2,0691,626
Deferred income taxes, net465671
Goodwill and identifiable intangible assets, net2,6081,847
Other assets4,1153,515
Total assets$94,237$88,230
Liabilities and shareholders’ equity:
Bank deposits$63,319$58,897
Collateralized financings8291,111
Financial instrument liabilities, at fair value:
Trading liabilities891891
Derivative liabilities215190
Brokerage client payables6,8825,853
Accrued compensation, commissions and benefits2,5552,603
Other payables2,2911,961
Other borrowings950700
Senior notes payable3,5223,520
Total liabilities81,45475,726
Commitments and contingencies (see Note 17)
Shareholders’ equity
Preferred stock—79
Common stock; $.01 par value; 650,000,000 shares authorized; 250,084,168 shares issued and 192,124,666 shares outstanding as of June 30, 2026; 250,084,168 shares issued and 198,139,594 shares outstanding as of September 30, 202533
Additional paid-in capital3,2043,235
Retained earnings14,97713,604
Treasury stock, at cost; 57,959,502 and 51,944,574 common shares as of June 30, 2026 and September 30, 2025, respectively(5,104)(4,022)
Accumulated other comprehensive loss(381)(396)
Total equity attributable to Raymond James Financial, Inc.12,69912,503
Noncontrolling interests841
Total shareholders’ equity12,78312,504
Total liabilities and shareholders’ equity$94,237$88,230

Index

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

Three months ended June 30,Nine months ended June 30,
in millions, except per share amounts2026202520262025
Revenues:
Asset management and related administrative fees$2,075$1,733$6,090$5,201
Brokerage revenues:
Securities commissions5034311,4961,302
Principal transactions126128388396
Total brokerage revenues6295591,8841,698
Account and service fees316302935965
Investment banking291212778753
Interest income9949902,9612,980
Other5746152125
Total revenues4,3623,84212,80011,722
Interest expense(434)(444)(1,278)(1,384)
Net revenues3,9283,39811,52210,338
Non-interest expenses:
Compensation, commissions and benefits2,5792,2027,5706,678
Non-compensation expenses:
Communications and information processing203191603553
Occupancy and equipment8577245224
Business development9577251209
Investment sub-advisory fees6356189163
Professional fees6342136110
Bank loan provision/(benefit) for credit losses(26)15(24)31
Other116175339387
Total non-compensation expenses5996331,7391,677
Total non-interest expenses3,1782,8359,3098,355
Pre-tax income7505632,2131,983
Provision for income taxes155127511452
Net income5954361,7021,531
Preferred stock dividends—134
Net income available to common shareholders$595$435$1,699$1,527
Earnings per common share – basic$3.06$2.16$8.67$7.51
Earnings per common share – diluted$3.01$2.12$8.52$7.35
Weighted-average common shares outstanding – basic194.0201.2195.7203.0
Weighted-average common and common equivalent shares outstanding – diluted197.2205.5199.1207.6
Net income$595$436$1,702$1,531
Other comprehensive income/(loss), net of tax:
Available-for-sale securities(10)532342
Currency translations, net of the impact of net investment hedges(2)58(5)24
Cash flow hedges(1)(3)(3)(2)
Total other comprehensive income/(loss), net of tax(13)1081564
Total comprehensive income$582$544$1,717$1,595

Index

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

Three months ended June 30,Nine months ended June 30,
$ in millions, except per share amounts2026202520262025
Preferred stock:
Balance beginning of period$—$79$79$79
Redemption of preferred stock——(79)—
Balance end of period—79—79
Common stock, par value $.01 per share:
Balance beginning of period3332
Share issuances———1
Balance end of period3333
Additional paid-in capital:
Balance beginning of period3,1563,1513,2353,251
Share-based compensation amortization4850177195
Net activity under employee stock plans—1(208)(244)
Balance end of period3,2043,2023,2043,202
Retained earnings:
Balance beginning of period14,48712,76913,60411,894
Net income attributable to Raymond James Financial, Inc.5954361,7021,531
Common and preferred stock cash dividends declared (see Note 18)(105)(101)(329)(321)
Balance end of period14,97713,10414,97713,104
Treasury stock:
Balance beginning of period(4,711)(3,244)(4,022)(3,051)
Purchases(403)(452)(1,224)(766)
Reissuances under employee stock plans105142126
Balance end of period(5,104)(3,691)(5,104)(3,691)
Accumulated other comprehensive income/(loss):
Balance beginning of period(368)(546)(396)(502)
Other comprehensive income/(loss), net of tax(13)1081564
Balance end of period(381)(438)(381)(438)
Total equity attributable to Raymond James Financial, Inc.$12,699$12,259$12,699$12,259
Noncontrolling interests:
Balance beginning of period43151(6)
Increase from acquisition of majority interest in GreensLedge Holdings LLC——40—
All other net changes in noncontrolling interests41(13)438
Balance end of period842842
Total shareholders’ equity$12,783$12,261$12,783$12,261

Index

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine months ended June 30,
$ in millions20262025
Cash flows from operating activities:
Net income$1,702$1,531
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization154143
Deferred income taxes, net129(4)
Premium and discount amortization on available-for-sale securities and bank loans and net unrealized gains/losses on other investments(8)(19)
Provisions for credit losses and legal and regulatory matters, net(3)107
Share-based compensation expense183199
Unrealized gains on corporate-owned life insurance policies, net of expenses(152)(68)
Other3423
Net change in:
Collateralized agreements, net of collateralized financings(750)(247)
Loans provided to financial advisors, net of repayments(471)(194)
Brokerage client receivables and other receivables, net(1,139)(170)
Trading instruments, net(21)77
Derivative instruments, net9331
Other assets6878
Brokerage client payables and other payables909331
Accrued compensation, commissions and benefits(86)(109)
Proceeds from sales of securitizations and loans held for sale, net of purchases and originations of loans held for sale201(71)
Net cash provided by operating activities8431,638
Cash flows from investing activities:
Increase in bank loans, net(5,509)(4,044)
Proceeds from sales of loans held for investment615218
Purchases of available-for-sale securities(947)(480)
Available-for-sale securities maturations, repayments and redemptions1,3241,531
Proceeds from sales of available-for-sale securities4078
Cash paid for acquisitions, net of cash acquired(484)—
Additions to property and equipment(153)(144)
Sales of Federal Reserve Bank (“FRB”) and Federal Home Loan Bank (“FHLB”) stock—8
Equity method investments, net of distributions received(86)(24)
Other investing activities, net(94)(41)
Net cash used in investing activities(5,294)(2,898)
Cash flows from financing activities:
Increase in bank deposits4,4221,239
Repurchases of common stock and share-based awards withheld for payment of withholding tax requirements(1,319)(914)
Dividends on common and preferred stock(326)(314)
Employee stock purchases and exercise of stock options3326
Redemption of preferred stock(81)—
Proceeds from FHLB advances400750
Repayments of FHLB advances(400)(950)
Proceeds from short-term borrowings250—
Other financing, net(11)(8)
Net cash provided by/(used in) financing activities2,968(171)

Index

RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)
Nine months ended June 30,
$ in millions20262025
Currency adjustment:
Effect of exchange rate changes on cash and cash equivalents, including those segregated for regulatory purposes(50)48
Net decrease in cash and cash equivalents, including those segregated for regulatory purposes and restricted cash(1,533)(1,383)
Cash and cash equivalents, including those segregated for regulatory purposes and restricted cash at beginning of year14,78714,348
Cash and cash equivalents, including those segregated for regulatory purposes and restricted cash at end of period$13,254$12,965
Cash and cash equivalents$9,977$9,195
Cash and cash equivalents segregated for regulatory purposes and restricted cash3,2773,770
Total cash and cash equivalents, including those segregated for regulatory purposes and restricted cash at end of period$13,254$12,965
Supplemental disclosures of cash flow information:
Cash paid for interest$1,259$1,394
Cash paid for income taxes, net$362$510
Cash outflows for lease liabilities$101$99
Non-cash right-of-use (“ROU”) assets recorded for new and modified leases$91$78
Non-cash acquisition-related contingent consideration$177$—
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.