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Raymond James Financial, Inc. — Intrinsic Value & Fair Price

RJF
NYSEFinancial ServicesAsset ManagementCIK 0000720005raymondjames.comAbout RJF
Last close · Oct 16, 2026156.78−0.59 (−0.37%)
Market cap$30.1B
Model value · P/E · peers
169.57
Raymond James Financial closed at $156.78 — undervalued by 8% vs model.
136.54the model's range200.44

P/E · peers leads for a financial company. From its peers' median P/E.

Other models
54.48 – 211.86
Wall St. target
175.50 11% below
Below model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Valuation models

price $156.78 · as of Oct 17, 2026

P/E · peers leads for a financial company. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
1.38%
Past 2 years
low 1.06%high 1.63%
Dividends per share, a year at a time
$1.04Sep ’21$1.36Sep ’22$1.68Sep ’23$1.80Oct ’24$2.00Oct ’25$2.16TTM
Coverage
—
Raised
16 years in a row
Growth, 5 yrs
15.7% a year
Last change
+8.0% · Jan 2026
Every payment, with ex-dates · latest $0.54, paid Oct 15, 2026

Research on RJF

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How it is valued

Valued asFinancial
Moderate growth (~11% recent)Moderate margins (13% net margin)Moderately volatile earningsStrong FCF yield (7.5%)
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for financials
P/E
15.2×
Price / book
2.5×
Return on equity
17.1%
Dividend yield, TTM
1.38%
Net margin
13.4%
Debt / equity
0.4
Full financials

Analyst actions

third-party, quoted
10-13Truist Financial · target166.00
10-07UBS · target179.00
10-07Raymond James · target197.00
01-07JP Morgan · “Neutral” from “Overweight”downgrade
Ratings, targets and estimates

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just RJF. No account.

About Raymond James Financial

Raymond James Financial, Inc. operates as a comprehensive financial services firm, extending a wide array of services to individuals, businesses, and governmental entities throughout the United States, Canada, and Europe. Its diverse operations are categorized into several key segments: Private Client Group, Capital Markets, Asset Management, Banking, and an "Other" category. The Private Client Group division equips clients with various investment solutions, personalized portfolio management, a selection of insurance and annuity products, and mutual funds. This segment also provides essential backing to third-party product partners, covering aspects like sales and marketing support, distribution, accounting, and general administrative assistance. Additionally, it facilitates margin loans and offers securities borrowing and lending services. Within the Capital Markets segment, the company engages in investment banking activities, which include orchestrating equity and debt offerings, along with offering expert advisory services for mergers and acquisitions. It further provides robust brokerage services for both fixed income and equity securities. The Asset Management segment specializes in delivering sophisticated asset and portfolio management services, complemented by administrative support functions such as detailed record-keeping, for both individual (retail) and institutional clients. Raymond James Bank maintains a portfolio of insured deposit accounts and a diverse range of lending products. These include commercial and industrial loans, financing for commercial real estate (CRE) and CRE construction, tax-exempt loans, residential mortgages, and securities-based loans. The bank also plays a role in loan syndication. Finally, the Other segment encompasses the firm's private equity activities, comprising direct investments and those made through third-party private equity funds, as well as the management of legacy private equity portfolios. Established in 1962, the company's corporate headquarters are situated in St. Petersburg, Florida.

CEO
Paul Marone Shoukry
Headquarters
Saint Petersburg, FL
Employees
19,500
IPO
1983-07-01
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.