Raymond James Financial, Inc (RJF) Fair Value & Analysis
Financial Services · US · Market cap $33.2B
Raymond James Financial, Inc
RJF · US
Fair value as of: Jul 16, 2026
From 26 valuation models · updated 22 days ago
Share price +7.0% over the past month.
A solid business, but screening 50% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($112.27). The favourable scenario is already priced in.
- Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range $76.75 – $180.55 · fair‑value band $67.36 – $112.27 · the $179.33 price screens above the $89.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Raymond James Financial, Inc (RJF) currently trades at $179.33, while our model-based Fair Value estimate is $89.82, implying the stock looks roughly 49.9% overvalued today. We read business quality at 64/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Raymond James Financial, Inc generated revenue of $14.7B at a net margin of 14.6%. Revenue grew 13.1% year over year. It earns a return on equity of 17.3%. The balance sheet holds a net cash position of $6.8B. Fundamentals as of Jul 16, 2026
Our scenario range runs from $67.36 (bear case) to $112.27 (bull case); at $179.33, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -51% fair-value upside, at -50%, RJF screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models ($122.71) versus Dividend Discount ($14.09). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 63
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Raymond James Financial, Inc., a diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe.
Full company description
Raymond James Financial, Inc., a diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe. The Private Client Group segment offers financial planning, investment advisory, securities transaction, investment services, portfolio management services, insurance and annuity products, and mutual funds; support to third-party mutual fund and annuity companies, including sales and marketing support, as well as distribution and accounting, and administrative services; margin loans; securities borrowing and lending services; and custodial, trade execution, research, and other support and services. The Capital Markets segment provides investment banking services, such as equity and debt underwriting, and merger and acquisition advisory; and fixed income and equity brokerage services. This segment also offers institutional sales, securities trading, equity research, and the syndication and management of investments in low-income housing funds and funds of a similar nature. The Asset Management segment provides asset management, portfolio management, and related administrative services to retail and institutional clients; and administrative support services, such as record-keeping. The Bank segment offers various types of loans, including securities-based, corporate, commercial and industrial, commercial real estate and construction, real estate investment trust, residential mortgage, and tax-exempt loans; Federal Deposit Insurance Corporation-insured deposit accounts; retail and corporate deposit; and liquidity management products and services. The Other segment engages in the private equity investments comprising investments in third-party funds. The company offers corporate, retail banking and trust services. Raymond James Financial, Inc. was founded in 1962 and is headquartered in Saint Petersburg, Florida.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Raymond James Financial, Inc reported revenue of $15.9B in FY2025 versus $9.8B in FY2021, a compound +12.9%/yr. Reported net income was $2.1B in FY2025, compounding +11.1%/yr from FY2021.
RJF screens 50% overvalued. Compare with Fondul Proprietatea SA →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Raymond James cuts Cigna to Outperform on lack of near-term catalysts
- Raymond James Recruits $5.4 Billion Financial Advisor Team From Comerica
- Raymond James Adds $5.4B Team From Comerica
- Raymond James Financial, Inc. (RJF) Now Trades Above Golden Cross: Time to Buy?
Peer Group
Asset Management · 963 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Asset Management median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,036 | $504.81 | -51% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 394.40 | kr 788.80 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
| HDFC Asset Management Company HDFCAMC | ₹2,729 | ₹301.41 | -89% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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