Raymond James Financial closed fiscal 2025 with record results, underscoring its position as one of the largest publicly traded companies headquartered in the Tampa Bay region.
The St. Petersburg–based financial services firm reported record annual net revenues of $14.07 billion and net income available to common shareholders of $2.13 billion, according to its fourth-quarter earnings release.
Earnings per diluted share reached $10.30, also a company record.
For Tampa Bay, where Raymond James ranks among the region’s most prominent public employers and financial institutions, the results highlight the scale of the firm’s operations and its ability to grow across varying market conditions.
Raymond James headquarters anchors its Tampa Bay presence
Raymond James is headquartered in St. Petersburg and operates nationally across private client wealth management, capital markets, asset management and banking.
Public since 1983, the firm is listed on the New York Stock Exchange under the ticker RJF.
As of Sept. 30, 2025, Raymond James reported $1.73 trillion in client assets under administration, the highest level in the company’s history.
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Assets in fee-based accounts within its Private Client Group exceeded $1 trillion for the first time, rising 15% year over year.
Those figures place Raymond James among the most significant financial services companies based in Tampa Bay, both in terms of assets managed and overall economic footprint.
Fourth-quarter results show continued momentum
In the fiscal fourth quarter ended Sept. 30, Raymond James reported net revenues of $3.73 billion, up 8% from the same quarter a year earlier and 10% from the prior quarter.
Net income available to common shareholders totaled $603 million, or $2.95 per diluted share.
On an adjusted basis, excluding acquisition-related expenses, net income reached $635 million, or $3.11 per diluted share.
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The firm also reported an annualized return on common equity of 19.6% for the quarter, reflecting strong profitability relative to its capital base.
CEO Paul Shoukry said the performance reflected sustained client growth and the firm’s service-focused operating model, noting that fiscal 2025 marked the company’s fifth consecutive year of record annual results across different market environments.
Private Client Group remains the growth engine
Raymond James’ Private Client Group remained the firm’s largest business segment, generating $10.18 billion in net revenues for fiscal 2025.
During the fourth quarter, the segment recorded $17.9 billion in domestic net new assets, representing annualized growth of 5% from beginning-of-quarter assets.
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Fee-based assets continued to expand, supported by market appreciation and advisor recruitment.
While pre-tax income in the Private Client Group declined modestly year over year due to lower interest rates and continued investment spending, revenue growth remained steady.
Capital markets and asset management rebound
The Capital Markets segment posted annual net revenues of $1.77 billion, up 20% from fiscal 2024, with pre-tax income more than doubling to $146 million.
Fourth-quarter results reflected a sequential rebound, driven by increased debt underwriting and advisory activity.
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Asset Management also delivered record results, reporting $1.19 billion in annual net revenues and $503 million in pre-tax income.
Growth was supported by rising assets under management and inflows tied to fee-based client accounts.
Banking segment shows steady expansion
Raymond James Bank reported $1.78 billion in net revenues for fiscal 2025, with pre-tax income rising 29% year over year to $491 million.
Net loans increased to $51.6 billion, up 12% from the prior year, driven primarily by growth in securities-based lending and residential mortgage loans.
Credit quality metrics remained stable, and the bank’s net interest margin was 2.71% in the fourth quarter.
Capital returns and balance sheet strength
During fiscal 2025, Raymond James returned more than $1.5 billion to shareholders through dividends and share repurchases.
In the fourth quarter alone, the firm repurchased $350 million of common stock.
As of Sept. 30, Raymond James reported a total capital ratio of 24.1% and a tier 1 leverage ratio of 13.1%, both above regulatory requirements.
A cornerstone public company in Tampa Bay
Within Tampa Bay’s business landscape, Raymond James stands out as a long-established anchor institution.
With its headquarters in St. Petersburg and a national platform spanning wealth management, investment banking and asset management, the firm continues to rank among the region’s most consequential public companies.
As fiscal 2026 begins, Raymond James enters the year with record client assets, a strong capital position and a diversified business model that has allowed it to grow through multiple market cycles.
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