Raymond James Financial (NYSE:RJF) Full Year 2023 Results

Key Financial Results

• Revenue: US$11.5b (up 6.3% from FY 2022).
• Net income: US$1.73b (up 15% from FY 2022).
• Profit margin: 15% (up from 14% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$8.16 (up from US$7.16 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Raymond James Financial EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.7%.

The primary driver behind last 12 months revenue was the Private Client Group segment contributing a total revenue of US$8.65b (75% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$7.63b (84% of total expenses). Explore how RJF's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Raymond James Financial's balance sheet.

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