Income StatementBalance SheetCash FlowSegments
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Raymond James Financial Business Segments

Business, geographic, and product segment breakdowns

Raymond James Financial generates $14.7B in annual revenue across 3 key segments: Asset Management ($1.2B), Capital Markets ($1.7B), and Private Client Group ($10.4B). Based on the Q1 2026 filing.

Asset Management (TTM)$1.2BCapital Markets (TTM)$1.7BPrivate Client Group (TTM)$10.4B
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$30.1B
P/E Ratio14.02
ROE17.33%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asset management and related administrative fees$1.7B$1.7B$1.7B$1.9B$2.0B$2.0B
Equities, exchange-traded funds (“ETFs”) and fixed income products$168.0M$159.0M$154.0M$169.0M$187.0M$197.0M
RJBDP fees-$188.0M-$185.0M-$195.0M-$192.0M-$189.0M-$189.0M
Brokerage Revenue, Securities Commissions, Mutual And Other Fund Products$154.0M$155.0M$148.0M$157.0M$167.0M$178.0M
Mutual fund and other investment products$130.0M$132.0M——$146.0M$155.0M
Merger & acquisition and advisory$226.0M$129.0M$105.0M$163.0M$119.0M$139.0M
Insurance and annuity products$118.0M$117.0M$129.0M$147.0M$132.0M$132.0M
Debt underwriting$56.0M$47.0M$60.0M$98.0M$50.0M$77.0M
Client account and other fees$68.0M$59.0M$63.0M$56.0M$61.0M$63.0M
Equity underwriting$43.0M$40.0M$47.0M$55.0M$39.0M$63.0M
Affordable housing investments business revenues$29.0M$20.0M$33.0M$58.0M$31.0M$28.0M

Non-interest revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other$39.0M$40.0M$46.0M$80.0M$42.0M$53.0M

Revenue From Contract With Customer, Including Assessed Tax And Principal Transactions Revenue, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total brokerage revenues$559.0M$580.0M$559.0M$606.0M$612.0M$643.0M

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aggregate assets$2.4B$2.7B$2.9B$2.8B$2.7B$3.1B
Revenues, Net of Interest Expense$151.0M$126.0M$142.0M$130.0M$141.0M$140.0M
Total pre-tax income$18.0M-$1.0M——-$4.0M-$11.0M

Business Segments

Aggregate assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bank$62.3B$62.7B$63.6B$65.3B$66.7B$69.0B
Private Client Group$13.3B$13.3B$14.2B$14.0B$14.0B$14.6B
Other$2.9B$3.2B$3.4B$4.9B$4.1B$4.0B
Capital Markets$3.2B$3.4B$3.0B$3.4B$3.4B$3.8B
Asset Management$622.0M$595.0M$633.0M$632.0M$656.0M$595.0M

All other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$5.0M$6.0M$5.0M$1.1B$278.0M$286.0M
Asset Management$0.0$0.0$1.0M$455.0M$124.0M$125.0M
Capital Markets$1.0M$0.0$0.0$495.0M$110.0M$120.0M

Bank loan provision for credit losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bank$0.0$16.0M——-$3.0M$5.0M
Asset Management$0.0$0.0——$0.0$0.0
Capital Markets$0.0$0.0——$0.0$0.0
Private Client Group$0.0$0.0——$0.0$0.0

Identifiable intangible assets, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asset Management———$118.0M——
Bank———$96.0M——
Capital Markets———$32.0M——
Private Client Group———$150.0M——

Interest Expense, Operating

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital Markets$26.0M$24.0M$24.0M$25.0M$24.0M$25.0M
Private Client Group$27.0M$24.0M$23.0M$26.0M$23.0M$17.0M
Asset Management$0.0$0.0$0.0$0.0$0.0$0.0

Interest Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$126.0M$110.0M$114.0M$118.0M$114.0M$107.0M
Capital Markets$29.0M$28.0M$27.0M$27.0M$28.0M$27.0M
Asset Management$4.0M$3.0M$3.0M$3.0M$3.0M$3.0M

Interest Income (Expense), Operating

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bank$414.0M$419.0M$440.0M$442.0M$470.0M$472.0M
Private Client Group$99.0M$86.0M$91.0M$92.0M$91.0M$90.0M
Asset Management$4.0M$3.0M$3.0M$3.0M$3.0M$3.0M
Capital Markets$3.0M$4.0M$3.0M$2.0M$4.0M$2.0M

Labor and Related Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$1.8B$1.8B——$2.1B$2.1B
Capital Markets$301.0M$262.0M——$261.0M$293.0M
Asset Management$58.0M$57.0M——$59.0M$65.0M
Bank$46.0M$45.0M——$48.0M$47.0M

Non-interest revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$2.4B$2.4B——$2.7B$2.7B
Capital Markets$477.0M$392.0M——$376.0M$462.0M
Asset Management$290.0M$286.0M——$323.0M$324.0M
Bank$11.0M$15.0M——$17.0M$14.0M

Noninterest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$2.1B$2.1B——$2.3B$2.4B
Capital Markets$406.0M$360.0M——$371.0M$413.0M
Bank$307.0M$317.0M——$314.0M$320.0M
Asset Management$169.0M$168.0M——$183.0M$190.0M

Principal transactions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital Markets$86.0M$121.0M$96.0M$96.0M$93.0M$104.0M
Private Client Group$30.0M$27.0M$30.0M$33.0M$30.0M$29.0M
Asset Management$0.0$0.0$0.0$0.0$0.0$0.0

Revenue From Contract With Customer, Including Assessed Tax And Noninterest Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$2.4B$2.4B$2.4B$2.6B$2.7B$2.7B
Capital Markets$477.0M$392.0M$378.0M$511.0M$376.0M$462.0M
Asset Management$290.0M$286.0M$288.0M$311.0M$323.0M$324.0M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$2.6B$2.5B$2.5B$2.7B$2.8B$2.8B
Capital Markets$506.0M$420.0M$405.0M$538.0M$404.0M$489.0M
Asset Management$294.0M$289.0M$291.0M$314.0M$326.0M$327.0M

Revenues, Net of Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$2.5B$2.5B$2.5B$2.7B$2.8B$2.8B
Capital Markets$480.0M$396.0M$381.0M$513.0M$380.0M$464.0M
Asset Management$294.0M$289.0M$291.0M$314.0M$326.0M$327.0M

Total pre-tax income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Private Client Group$462.0M$431.0M——$439.0M$416.0M
Bank$118.0M$117.0M$123.0M$133.0M$173.0M$166.0M
Asset Management$125.0M$121.0M——$143.0M$137.0M
Capital Markets$74.0M$36.0M——$9.0M$51.0M

Amortization of Intangible Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bank$3.0M$3.0M$3.0M$3.0M——

Foreign currency translations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bank$0.0$0.0$0.0$0.0——

Total net revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Bank$425.0M$434.0M$458.0M$459.0M$487.0M$486.0M