The record results were driven by sustained asset management fee growth and strong advisor recruiting, with domestic PCG net new assets nearly doubling YoY. Monitor the bank segment net interest margin compression (down 11bp YoY to 2.60%) and the pace of share repurchases ($50M in Q4 vs $400M in prior quarters) for signs of capital deployment strategy shifts.
Price Chart
Executive Summary
Raymond James Financial reported record fiscal Q4 2026 results with net revenues of $4.27B (up 15% YoY) and diluted EPS of $3.40 (up 15% YoY), both above consensus estimates of $4.24B and $3.27. Record annual net revenues of $15.79B and record diluted EPS of $11.91 were driven by strong asset management fee growth (up 23% YoY) and record PCG net new assets of $98.3B for the fiscal year. The company returned $1.7B of capital to shareholders in fiscal 2026 and ended the quarter with strong capital ratios.
Key Financial Metrics
Key Facts
- Record quarterly net revenues of $4.27B, up 15% YoY and 9% sequentially
- Record quarterly diluted EPS of $3.40, up 15% YoY and 13% sequentially
- Adjusted diluted EPS of $3.59, up 15% YoY and 14% sequentially
- Record annual net revenues of $15.79B, up 12% YoY
- Record annual diluted EPS of $11.91, up 16% YoY
- Record annual adjusted diluted EPS of $12.41, up 16% YoY
- Asset management and related administrative fees grew 23% YoY to $2.31B
- Domestic PCG net new assets of $22.8B for Q4, $98.3B for fiscal year (up 88% YoY)
- Record PCG assets in fee-based accounts of $1.16T, up 15% YoY
- Record client assets under administration of $1.94T, up 12% YoY
- Returned approximately $1.7B of capital to shareholders in fiscal 2026
- Total capital ratio of 24.2% and Tier 1 leverage ratio of 12.1%, well above regulatory requirements
Financial Impact
Record quarterly net revenues of $4.27B exceeded consensus of $4.24B by 0.7%; diluted EPS of $3.40 exceeded consensus of $3.27 by 4.0%. Annual net revenues of $15.79B and EPS of $11.91 were both records.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Private Client Group | $3.1B | +15.0% |
| Capital Markets | $549.0M | +7.0% |
| Asset Management | $409.0M | +30.0% |
| Bank | $483.0M | +5.0% |
Risk Factors
- Bank segment net interest margin declined 11bp YoY to 2.60%, compressing from rate environment
- Fixed income brokerage revenues declined 28% YoY, signaling potential headwinds in that business line
- Share repurchases slowed sharply to $50M in Q4 from $400M in each of the prior three quarters
- Compensation ratio remains elevated at 65.0% (64.6% adjusted), up from 64.2% in prior year quarter
- Geopolitical and macroeconomic uncertainties cited by management as potential headwinds for fiscal 2027
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000720005-26-000080 |
| Document: 0000720005-26-000080-index.html | 0000720005-26-000080 |
| Document: 0000720005-26-000080.txt | 0000720005-26-000080 |
| 8-K Data (Synthetic) | 0000720005-26-000080 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | Press Release | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 28, 2026 2d ago | 8-K | $161.29 | awaiting T+5 | awaiting T+5 | $157.22 (−2.52%) |
Oct 20, 2026 10d ago | Institutional Cluster | $155.69 $158.12 | ▲ +1.56% | ▲ +2.00% | $157.22 (+0.98%) |
Sep 15, 2026 6w ago | Press Release | $164.57 $158.23 | ▼ −3.85% | ▼ −5.68% | $157.22 (−4.47%) |
Aug 26, 2026 9w ago | Press Release | $176.11 $181.10 | ▲ +2.83% | ▲ +2.56% | $157.22 (−10.73%) |
Jul 29, 2026 13w ago | Insider Cluster | $174.16 $180.55 | ▲ +3.67% | ▼ −1.86% | $157.22 (−9.73%) |
Jul 22, 2026 14w ago | Press Release | $166.14 $174.97 | ▲ +5.31% | ▲ +4.84% | $157.22 (−5.37%) |
Jun 24, 2026 18w ago | 8-K | $150.52 $158.19 | ▲ +5.10% | ▲ +3.54% | $157.22 (+4.45%) |
May 27, 2026 22w ago | 8-K | $145.26 $146.54 | ▲ +0.88% | ▲ +0.41% | $157.22 (+8.23%) |
May 13, 2026 24w ago | Press Release | $155.45 $150.35 | ▼ −3.28% | ▼ −2.56% | $157.22 (+1.14%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers