On October 22, 2025, Raymond James Financial released its fiscal fourth‑quarter and full‑year 2025 results. Net revenues rose 8% year‑over‑year to $3.73 billion, and net income available to common shareholders increased 39% to $603 million, or $2.95 per diluted share. The company also reported adjusted net income of $635 million, or $3.11 per diluted share, after excluding $39 million of acquisition‑related expenses.
The Private Client Group drove growth, with net revenues up 7% YoY, largely from higher asset‑management and administrative fees that rose 13% to $1.59 billion. Capital Markets generated a 6% increase in net revenues, supported by a 35% sequential rise in M&A and advisory, debt underwriting, and affordable‑housing investment revenues. The Bank segment reported a 12% YoY increase in net loans, driven by 22% growth in securities‑based loans and 9% growth in residential mortgages.
The company repurchased $350 million of common stock during the quarter and maintained $399 million of repurchase authority. Capital ratios remained strong, with a Tier 1 leverage ratio of 13.1% and a total capital ratio of 24.1%. The results underscore Raymond James’s continued ability to generate record revenue and earnings while maintaining a robust capital position.
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