Raymond James Posts Record Revenue of $4.269 Billion, Up 15% Year Over Year
Key Facts
Raymond James Financial reported results on October 28 for the fourth fiscal quarter ended September 30, 2026, recording net revenues of $4.269 billion. Revenue rose 15% year over year and 9% from the previous quarter, according to the company’s statement. Pre-tax income increased to $862 million from $731 million in the same period a year earlier. Adjusted pre-tax income was also $909 million, compared with $770 million a year earlier. The figures mark a strong close to the fiscal year, with the company posting record annual revenue and earnings for the sixth consecutive year.
Growth in fees tied to asset management was the leading driver of quarterly revenue. Asset management and related administrative fees rose 23% year over year to $2.31 billion. Coverage of the results linked the increase to rising markets and net flows into fee-based accounts. The company said this item was the primary driver of the increase in quarterly revenue. The comparison with the previous quarter also benefited from higher investment banking revenues and affordable housing investment activity.
At the Private Client Group, quarterly revenue reached $3.06 billion, up 15% from the same period a year earlier. The group recorded $22.8 billion in domestic net new assets during the quarter. That equates to annualized growth of 5.3% relative to assets at the start of the quarter, according to coverage of the results. These figures combine revenue expansion with continued inflows of new assets into the group’s business. This coincided with growth in fees tied to fee-based accounts, which benefited from rising markets and inflows into those accounts.
Client assets under management reached a record $1.94 trillion at quarter-end, up 12% from September 2025. Fee-based assets in the Private Client Group also reached a record $1.16 trillion, up 15% from the same period a year earlier. These figures show the expansion of the asset base on which the company earns fees, alongside growth in new flows recorded by the Private Client Group. The difference between the growth rates for total client assets and fee-based assets reflects parallel growth paths in assets over the year. Both figures refer to assets at the end of the quarter on September 30, 2026.
The record performance extended across the full 2026 fiscal year, with net revenues reaching $15.79 billion. The company posted record diluted earnings per share of $11.91, while net income available to common shareholders was $2.37 billion. CEO Paul Shoukry said the company had achieved its “sixth consecutive year of record annual revenue and earnings.” He said the company was entering fiscal 2027 with record client assets and a strong investment banking pipeline. Shoukry made the remarks amid geopolitical and macroeconomic uncertainty.
Raymond James returned about $1.7 billion to shareholders during fiscal 2026 through a combination of share repurchases and dividends. The return came in a year when the company recorded record net revenues and diluted earnings per share. The results statement placed returning capital alongside business growth as among the fiscal year’s key features. In the market, the stock rose 2.3% in extended trading on Wednesday, October 28, following the results announcement, according to a published report on the results. The stock had closed at $158.12 on October 27, according to EL7 data.
The company’s calendar had scheduled the results announcement for October 28, 2026, the day it released fourth-quarter and fiscal-year results. The company said a call to discuss the results would be held the same day at 5:00 p.m. Eastern time. An audio replay of the call was made available on the same site for 30 days. The call gives the company an opportunity to discuss its quarterly and fiscal-year results with participants after their release. The results meeting also falls at the start of fiscal 2027, which Shoukry said the company was entering with record client assets and a strong investment banking pipeline.