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Raymond James Financial logo

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 Ratio14.01
ROE17.33%

Products & Services

Revenue

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Asset management and related administrative fees$1.7B$1.7B$1.7B$1.9B$2B$2B
Equities, exchange-traded funds (“ETFs”) and fixed income products$168M$159M$154M$169M$187M$197M
RJBDP fees-$188M-$185M-$195M-$192M-$189M-$189M
Brokerage Revenue, Securities Commissions, Mutual And Other Fund Products$154M$155M$148M$157M$167M$178M
Mutual fund and other investment products$130M$132M——$146M$155M
Merger & acquisition and advisory$226M$129M$105M$163M$119M$139M
Insurance and annuity products$118M$117M$129M$147M$132M$132M
Debt underwriting$56M$47M$60M$98M$50M$77M
Client account and other fees$68M$59M$63M$56M$61M$63M
Equity underwriting$43M$40M$47M$55M$39M$63M
Affordable housing investments business revenues$29M$20M$33M$58M$31M$28M

Non-interest revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Other$39M$40M$46M$80M$42M$53M

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

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Total brokerage revenues$559M$580M$559M$606M$612M$643M

Geographic

Aggregate assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
U.S.$76.7B$77.1B$78.7B$82.3B$82.7B$85.4B
Canada$3.2B$3.3B$3.2B$3.2B$3.3B$3.5B
Europe$2.4B$2.7B$2.9B$2.8B$2.7B$3.1B

Revenues, Net of Interest Expense

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
U.S.$3.2B$3.1B$3.1B$3.4B$3.4B$3.5B
Canada$164M$161M$149M$171M$185M$191M
Europe$151M$126M$142M$130M$141M$140M

Total pre-tax income

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
U.S.$692M$637M——$693M$706M
Canada$39M$35M——$39M$40M
Europe$18M-$1M——-$4M-$11M

Business Segments

Aggregate assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Bank$62.3B$62.7B$63.6B$65.3B$66.7B$69B
Private Client Group$13.3B$13.3B$14.2B$14B$14B$14.6B
Other$2.9B$3.2B$3.4B$4.9B$4.1B$4B
Capital Markets$3.2B$3.4B$3B$3.4B$3.4B$3.8B
Asset Management$622M$595M$633M$632M$656M$595M

All other

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$255M$256M$5M$1.1B$278M$286M
Asset Management$111M$111M$1M$455M$124M$125M
Capital Markets$105M$98M$0$495M$110M$120M

Bank loan provision for credit losses

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Bank$0$16M——-$3M$5M
Asset Management$0$0——$0$0
Capital Markets$0$0——$0$0
Private Client Group$0$0——$0$0

Identifiable intangible assets, net

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Asset Management———$118M——
Bank———$96M——
Capital Markets———$32M——
Private Client Group———$150M——

Interest Expense, Operating

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Capital Markets$26M$24M$24M$25M$24M$25M
Private Client Group$27M$24M$23M$26M$23M$17M
Asset Management$0$0$0$0$0$0

Interest Income

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$126M$110M$114M$118M$114M$107M
Capital Markets$29M$28M$27M$27M$28M$27M
Asset Management$4M$3M$3M$3M$3M$3M

Interest Income (Expense), Operating

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Bank$414M$419M$440M$442M$470M$472M
Private Client Group$99M$86M$91M$92M$91M$90M
Asset Management$4M$3M$3M$3M$3M$3M
Capital Markets$3M$4M$3M$2M$4M$2M

Labor and Related Expense

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$1.8B$1.8B——$2.1B$2.1B
Capital Markets$301M$262M——$261M$293M
Asset Management$58M$57M——$59M$65M
Bank$46M$45M——$48M$47M

Non-interest revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$2.4B$2.4B——$2.7B$2.7B
Capital Markets$477M$392M——$376M$462M
Asset Management$290M$286M——$323M$324M
Bank$11M$15M——$17M$14M

Noninterest Expense

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$2.1B$2.1B——$2.3B$2.4B
Capital Markets$406M$360M——$371M$413M
Bank$307M$317M——$314M$320M
Asset Management$169M$168M——$183M$190M

Principal transactions

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Capital Markets$86M$121M$96M$96M$93M$104M
Private Client Group$30M$27M$30M$33M$30M$29M
Asset Management$0$0$0$0$0$0

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

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$2.4B$2.4B$2.4B$2.6B$2.7B$2.7B
Capital Markets$477M$392M$378M$511M$376M$462M
Asset Management$290M$286M$288M$311M$323M$324M

Revenue

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$2.6B$2.5B$2.5B$2.7B$2.8B$2.8B
Capital Markets$506M$420M$405M$538M$404M$489M
Asset Management$294M$289M$291M$314M$326M$327M

Revenues, Net of Interest Expense

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$2.5B$2.5B$2.5B$2.7B$2.8B$2.8B
Capital Markets$480M$396M$381M$513M$380M$464M
Asset Management$294M$289M$291M$314M$326M$327M

Total pre-tax income

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Private Client Group$462M$431M——$439M$416M
Bank$118M$117M$123M$133M$173M$166M
Asset Management$125M$121M——$143M$137M
Capital Markets$74M$36M——$9M$51M

Amortization of Intangible Assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Bank$3M$3M$3M$3M——

Foreign currency translations

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Bank$0$0$0$0——

Total net revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Bank$425M$434M$458M$459M$487M$486M