Raymond James Financial Reports Record Q4 & Fiscal 2026 Earnings

Executive Summary

On October 28, 2026, Raymond James Financial, Inc. filed an 8-K under Item 2.02 reporting its financial results for the fourth quarter and fiscal year ended September 30, 2026, delivering record annual revenues and earnings for the sixth consecutive year.

Key Financial Highlights

• Quarterly Net Revenues: Reached a record $4.27 billion, representing a 15% increase compared to Q4 FY2025 ($3.73 billion) and a 9% sequential increase from Q3 FY2026 ($3.93 billion).
• Quarterly Net Income: Reached $666 million, up 10% YoY, resulting in diluted EPS of $3.40 (vs. $2.95 in Q4 FY2025). Adjusted diluted EPS was $3.59, excluding $37 million in after-tax acquisition-related expenses.
• Full-Year FY2026 Results:
  • Net Revenues: Record $15.79 billion, up 12% YoY.
  • Net Income to Common Shareholders: Record $2.37 billion.
  • Diluted EPS: Record $11.91, up 16% YoY (Adjusted diluted EPS of $12.41).
• Return Metrics: Annualized return on common equity (ROE) was 20.6% for Q4 and 18.7% for the full year; adjusted return on tangible common equity (ROTE) reached 26.6% for Q4 and 23.0% for the full year.

Segment Performance

• Private Client Group (PCG): Record quarterly net revenues of $3.06 billion (+15% YoY); quarterly pre-tax income reached $458 million (+10% YoY). PCG assets in fee-based accounts reached a record $1.16 trillion (+15% YoY). FY2026 domestic net new assets totaled $98.3 billion, an 88% surge over FY2025.
• Capital Markets: Quarterly net revenue was $549 million (+7% YoY), supported by a 17% increase in investment banking revenues to $361 million.
• Asset Management: Record quarterly net revenues of $409 million (+30% YoY), driven by market appreciation, fee-based inflows, and the addition of Clark Capital.
• Bank: Quarterly net revenues stood at $483 million (+5% YoY) with pre-tax income of $180 million (+35% YoY) and net bank loans growing 11% YoY to $57.5 billion.

Capital Return & Balance Sheet Strength

• Returned approximately $1.7 billion to shareholders through repurchases and dividends in fiscal 2026.
• Repurchased $1.25 billion of common stock during the year ($50 million in Q4) at an average price of $156 per share, leaving $1.05 billion remaining under Board authorization.
• Total capital ratio stood at 24.2% and Tier 1 leverage ratio was 12.1%, comfortably exceeding regulatory requirements.