Raymond James Financial, Inc.

RJFNYSEFinancial Services● Active

$151.77

+$0.32(+0.21%)

Market Cap$29.6B

P/E Ratio—

52W High$177.66

52W Low$138.82

Avg Volume1.4M

Open$151.25

Beta0.95

Free Cash Flow Financials Revenue

Raymond James Financial, Inc. (RJF) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

RJF · free cash flow · updated Jun 8, 2026

Core FCF metrics

RJF · FCF · TTM · margin & CAGR

Free cash flow was $2.25B for FY2025 (fiscal year ending 2025-09-30), up 15.2% year-over-year The FCF margin was 14.1%. Five-year CAGR stands at -10.7%.

FY2025 Free Cash Flow$2.25B▲ +15.2% YoY

Trailing 12M (TTM)$2.38Btrailing 4 quarters sum

FCF Margin14.1%$2.25B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGR-10.7%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

RJF · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$2.43B(188M)$2.25B▲ +15.2%14.1%

FY2024$2.15B(205M)$1.95B▲ +152.9%13.2%

FY2023−$3.51B(173M)−$3.69B▼ 19305.3%-28.7%

FY2022$72.0M(91M)−$19.0M▼ 100.3%-0.2%

FY2021$6.65B(74M)$6.57B▲ +66.4%67.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

RJF · P/FCF · FCF yield · FCF per share

Raymond James Financial, Inc. (RJF) trades at a FCF yield of 8.06% and a price-to-free-cash-flow ratio of 12.9x. FCF per share stands at $11.80, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.06%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$11.80

TTM FCF ÷ Shares Outstanding

Price / FCF

x12.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x10.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-09-30

Cash flow statement summary

RJF · cash flow statement · operating / investing / financing

For FY2025, Raymond James Financial, Inc. generated $2.43B in operating cash flow and spent 188M in capital expenditures, yielding $2.25B in free cash flow.

Operating Activities

+$2.43B

Cash from core business operations

2025-09-30

Investing Activities

−$4.32B

CapEx, acquisitions & investments

2025-09-30

Financing Activities

+$2.36B

Buybacks, dividends & debt

2025-09-30

FCF FormulaOperating CF ($2.43B) − |CapEx| (188M) = FCF ($2.25B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

RJF vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Raymond James Financial, Inc.YOU

RJF

$2.25B+15.2%14.1%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Raymond James Financial, Inc. (RJF) reported free cash flow of $2.25B for FY2025 (fiscal year ending 2025-09-30), up 15.2% year-over-year. The FCF margin was 14.1%.

Based on available data, Raymond James Financial, Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $6.57B in FY2021. The 5-year CAGR stands at -10.7%.

Raymond James Financial, Inc.'s FCF yield is 8.06% and price-to-FCF ratio is 12.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

RJF free cash flow · 8 questions

Raymond James Financial, Inc. free cash flow was $2.25B for FY2025, up 15.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.38B.

RJF free cash flowRJF FCFRJF FCF 2025RJF free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Raymond James Financial, Inc. · Raymond James Financial, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026