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Stifel Financial SF Basis differences on investments

Basis differences on investments at other companies

Ares Capital logo
Ares CapitalARCC
$300M+250%
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International PaperIP
$622M
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General MotorsGM
-$11.25M
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Bank of AmericaBAC
$559M-79.1%
Carrier Global logo
Carrier GlobalCARR
$519M-9.9%
Popular logo
PopularBPOP

Other financials

Income statement

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Revenue$1.5B+17.7%
Net income$251.4M+374%
EPS (diluted)$1.48+469%

Balance sheet

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Cash & equivalents$2.9B+6.4%
Total debt$1.5B+0.4%
Total equity$6.0B+8.1%
Total assets$42.9B+6.2%

Cash flow

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Operating cash flow-$342.6M-62.2%
CapEx$47.8M+189%
Free cash flow-$390.4M-71.4%

Valuation

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Market cap$11.28B+17.0%
Enterprise value$9.85B+17.5%
P/E12.8×-2.7×
P/S+0.1×

Profitability

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Net margin15.3%+3.1pp
FCF margin15.5%-0.5pp

Returns & leverage

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Return on equity15.3%+3.8pp
Debt / equity0.2×0.0×

Where this comes from

Reported directly by Stifel Financial in its filing.

Tagged under the XBRL concept us-gaap:DeferredTaxAssetsUnrealizedLossesOnTradingSecurities.

The official record: Stifel Financial’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Stifel Financial's basis differences on investments?
Stifel Financial (SF) reported basis differences on investments of $28.65M in Q4 2025.
How has Stifel Financial's basis differences on investments changed year-over-year?
Stifel Financial's basis differences on investments decreased by 47.6% year-over-year, from $54.71M to $28.65M.
What does basis differences on investments mean?
Tax benefits derived from the difference in how market losses on investments are treated for tax versus accounting purposes.
How do you interpret basis differences on investments?
An increase suggests higher unrealized losses in the trading portfolio, which may provide future tax shields.
How does basis differences on investments compare across companies?
Common for investment banks and firms with large proprietary trading or investment portfolios.