QualityDipStocks / Finance · Brokers & investment banks
Raymond James Financial RJF
Not in a dip by our rules: 13% below its 52-week high.
A quality company trading above our fair value estimate.
- Fair value est.
- $123.36−22%
- Market Value
- forming
- Off 52-wk high
- −13%
- Risk vs market
- Below marketbeta 0.72
4 bullish · 4 bearish See why
Key levels
Every level vs today’s $157.22
- Fair value est.base case$123.36−21.5%
- 52-wk lowlowest close, 1 year$140.89−10.4%
- PriceFri Oct 30 close$157.22you are here
- 52-wk highhighest close, 1 year$181.18+15.2%
Fair value estimate
How the range is computed
Financials model (residual income). Same residual-income model as the base: cost of equity 9.5% ±1 point and return on equity 17.5% ±2 points. Bear = 10.5% and 15.5%; bull = 8.5% and 19.5%. A model estimate from public filings, not a forecast of where the price will go.
Price sits inside the range.
What the price implies To be worth today’s price, RJF would need a return on equity of about 22% a year; our estimate uses 18%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much RJF moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves a bit less than the market, but its own price swings are 1.9× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.72
- Volatility
- 25% vs 13% SPY
- Correlation SPY
- 0.37
- Correlation QQQ
- 0.19
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 4 of 5
Cash returnsShare count down 4.0% in a year.
ProfitabilityReturn on equity of 18% over the last 12 months.
GrowthSales compounded 10% a year from FY2023 to FY2025.
QualityPasses all four of our quality checks: cash generation, returns on capital, growth and balance sheet.
Top bearish points 4 of 5
ValuationOur residual-income fair value estimate is $123.36, 22% below the price.
GrowthDiluted EPS grew 6.2% in the last fiscal year, below the 17% median for the 137 Finance companies we cover.
ValuationPrice / book of 2.4×, above the 1.8× median for the 143 Finance companies we cover.
ProfitabilityNet margin of 15%, below the 21% median for the 142 Finance companies we cover.
Who’s talking about it
Notable investors, executives, analysts and public figures on Raymond James Financial in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Brokers & investment banks
All fundamentals
P/E 13.1 · ROE 18%
Valuation
- P/E
- 13.1×3-yr-end avg 14.0× · Finance median 13.5×
- Price / FCF
- n/acash flow isn't a clean measure for a lender
- FCF yield
- n/acash flow isn't a clean measure for a lender
- EV / EBITDA
- n/anot meaningful for a lender
- Price / sales
- 1.98×
- Price / book
- 2.38×
- Market cap
- $30.2Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $15.2Bnet interest income + noninterest income
- Sales growth, 12 months
- n/ano year-ago 12-month revenue
- Sales growth, 3 yrs
- +10.0%/yrfrom FY2023
- Diluted EPS, 12 months
- $11.47
- EPS growth, last FY
- +6.2%
- Net income, 12 months
- $2.3B
- Net income growth
- +8%12 months vs before
Profitability
- Gross margin
- n/anot meaningful for a lender
- Operating margin
- n/anot reported in its SEC filings
- Net margin
- 15.1%
- FCF margin
- 9.5%
- Return on equity
- 18%
- Return on invested capital
- n/anot meaningful for a lender
Balance sheet
- Cash & short-term inv.
- $10.0B
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/anot meaningful for a lender
- Debt / equity
- n/adeposits/float make debt/equity not comparable for a lender
- Interest coverage
- n/anot meaningful for a lender
Cash flow & returns
- Free cash flow, 12 months
- $1.4B
- FCF growth, 12 months
- −26%
- Dividend yield
- 1.42%$428M paid
- Payout ratio
- 19%
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- −4.0%diluted shares vs a year ago
- Stock-based comp
- $238M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From Raymond James Financial’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
DCF $123.36
Financials model (residual income): book value $68.00 a share on Jun 30, 2026, plus the earnings above a 9.5% cost of equity. ROE 17.5%, the average of 17.9% for the trailing 12 months to Jun 30, 2026 and 17.1% over fiscal 2021–2025, on average common equity; payout 76% of earnings (dividends 19% + net buybacks 57%), so book grows by the retained rest; the return above 9.5% fades halfway toward 9.5% over 10 years, then grows at 3% (terminal value). From the 10-Q filed Aug 5, 2026.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only arm once a company is in a dip.
Momentum & 52-week range
RSI 45 · 5 days −0.3%
The business
FCF $1.9B · Sales +16%
- Free cash flow, 12 months$1.9B
- Free-cash-flow yield6.3%
- Return on equity19%
- Sales growth (latest quarter vs year-ago quarter)+16%
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
Get a text when RJF fires a reversal signal
One text when a published rule fires on RJF or any of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.