SerpApi.Org
Financial services firm Raymond James Financial (NYSE:RJF) in Q2 CY2026, with sales up 28.4% year on year to $4.36 billion. Its non-GAAP profit of $3.14 per share was 7.8% above analysts’ consensus estimates.
Is now the time to buy Raymond James? Find out by accessing our full research report, it’s free.
Raymond James (RJF) Q2 CY2026 Highlights:
・Assets Under Management: $345 billion (31.1% year-on-year growth)
・Revenue: $4.36 billion vs analyst estimates of $3.87 billion (28.4% year-on-year growth, 12.6% beat)
・Pre-tax Profit: $750 million (17.2% margin)
・Adjusted EPS: $3.14 vs analyst estimates of $2.91 (7.8% beat)
・Tangible Book Value per Share: $53.74 vs analyst estimates of $56.02 (4.1% year-on-year growth, 4.1% miss)
・Market Capitalization: $32.73 billion
Company Overview
Founded in 1962 and headquartered in St. Petersburg, Florida, Raymond James Financial (NYSE:RJF) is a diversified financial services company that provides wealth management, investment banking, asset management, and banking services to individuals and institutions.
Revenue Growth
Examining a company’s long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Luckily, Raymond James’s revenue grew at a solid 11.4% compounded annual growth rate over the last five years. Its growth beat the average financials company and shows its offerings resonate with customers, a helpful starting point for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Raymond James’s annualized revenue growth of 12.4% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated.
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Raymond James reported robust year-on-year revenue growth of 28.4%, and its $4.36 billion of revenue topped Wall Street estimates by 12.6%.
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
Tangible Book Value Per Share (TBVPS)
Financial firms generate earnings through diverse intermediation activities, making them fundamentally balance sheet-driven enterprises. Investors focus on balance sheet quality and consistent book value compounding when evaluating these multifaceted financial institutions.
This is why we consider tangible book value per share (TBVPS) an important metric for the sector. TBVPS represents the real net worth per share across all business segments, providing a clear measure of shareholder equity regardless of the complexity of operations. EPS can become murky due to the complexity of multiple revenue streams, acquisition impacts, or accounting flexibility across different financial services, and book value resists financial engineering manipulation.
Raymond James’s TBVPS grew at a decent 9.5% annual clip over the last five years. The last two years show a similar trajectory as TBVPS grew by 9.4% annually from $44.92 to $53.74 per share.
Tangible Book Value Per Share (TBVPS)
Financial institutions manage complex balance sheets spanning various financial activities. Valuations reflect this complexity, emphasizing balance sheet quality and long-term book value compounding across multiple revenue streams.
When analyzing this sector, tangible book value per share (TBVPS) takes precedence over many other metrics. This measure isolates genuine per-share value and provides insight into the institution’s capital position across diverse operations. On the other hand, EPS is often distorted by the diverse nature of operations, mergers, and various accounting treatments across different business units. Book value provides clearer performance insights.
Raymond James’s TBVPS grew at a decent 9.5% annual clip over the last five years. The last two years show a similar trajectory as TBVPS grew by 9.4% annually from $44.92 to $53.74 per share.
Key Takeaways from Raymond James’s Q2 Results
We were impressed by how significantly Raymond James blew past analysts’ revenue expectations this quarter. We were also glad its EPS outperformed Wall Street’s estimates. Zooming out, we think this was a good print with some key areas of upside. Investors were likely hoping for more, and shares traded down 1% to $166.37 immediately following the results.
So should you invest in Raymond James right now? We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).
