Key Highlights

  • Consensus EPS of 3.26 compares with fiscal third-quarter diluted EPS of 3.01, against 2.12 a year earlier.
  • Consensus revenue of USD 4.20 billion compares with revenues of USD 4,362 million and net revenues of USD 3,928 million.
  • Investment banking revenues were USD 291 million against USD 212 million, and securities commissions were USD 503 million.
  • Pre-tax income was USD 750 million against USD 563 million, and non-interest expense was USD 3,178 million.

Raymond James Financial (NYSE:RJF) reports fourth-quarter results on Wednesday, Oct. 28, after the market closes. Consensus stands at EPS of 3.26 on revenue of USD 4.20 billion, and the company has a market capitalization of USD 30.41 billion.

Raymond James Financial reports on a fiscal year ending Sept. 30, and its latest filing covers the fiscal third quarter ended June 30, 2026. Total revenues were USD 4,362 million against USD 3,842 million, and net income was USD 595 million against USD 436 million.

Estimates Against the Last Reported Quarter

The EPS estimate of 3.26 is above the fiscal third-quarter diluted EPS of 3.01, which compared with 2.12 a year earlier. The estimates table does not state its EPS basis. The revenue estimate of USD 4.20 billion is below total revenues of USD 4,362 million and above total net revenues of USD 3,928 million, and the estimates table does not state its revenue basis.

Basic EPS was 3.06 against 2.16, and the dividend declared was 0.54 per share against 0.50. Interest expense was USD 434 million against USD 444 million.

What the Filing Gives and What the Sources Leave Open

The sources supplied include no earnings call transcript or published guidance, so there are no management ranges to set against the estimates. The filing carries no figures for the quarter the estimates cover.

The filing states that investment banking revenues increased USD 82 million, or 40%, primarily on higher mergers and acquisitions and advisory revenues from more completed transactions. It states that asset management and related administrative fees increased USD 72 million, or 26%, driven by growth in PCG fee-based assets.

Investment Banking, Brokerage and Fee Revenue Detail

Investment banking revenues were USD 291 million against USD 212 million. Total brokerage revenues were USD 629 million against USD 559 million, with securities commissions of USD 503 million against USD 431 million and principal transactions of USD 126 million against USD 128 million.

Account and service fees were USD 316 million against USD 302 million, and interest income was USD 994 million against USD 990 million. Net interest income was USD 560 million against USD 546 million.

Expenses, GreensLedge and Balance Sheet Lines

Non-interest expense was USD 3,178 million against USD 2,835 million, and pre-tax income was USD 750 million against USD 563 million. The filing states that GreensLedge results have been included in the Capital Markets segment prospectively beginning March 1, 2026, with USD 131 million of goodwill recognized.

Total assets were USD 94,237 million against USD 88,230 million at Sept. 30, 2025, and bank deposits were USD 63,319 million against USD 58,897 million. Cash and cash equivalents were USD 9,977 million against USD 11,389 million. The estimates table lists a market capitalization of USD 30.41 billion.

Comparisons to Make in the Report

Reported EPS against 3.26 and revenue against USD 4.20 billion are the headline comparisons for the fiscal fourth quarter. Other markers are investment banking revenues, brokerage revenues and asset management fees.