Raymond James Financial Files Q1 2025 10-Q

TL;DR

RJF Q1 2025 10-Q filed. Financials look solid.

AI Summary

Raymond James Financial, Inc. filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operations for the quarter. Key financial metrics and operational highlights are presented, reflecting the company's standing in the financial services sector.

Why It Matters

This filing provides investors and analysts with a detailed look into Raymond James Financial's financial health and operational performance for the first quarter of fiscal year 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20241231 — Fiscal Period End (Reporting period for the 10-Q filing.)
• 20250207 — Filing Date (Date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• RAYMOND JAMES FINANCIAL INC (company) — Filer
• 20241231 (date) — Period of Report
• 20250207 (date) — Filing Date
• 0000720005 (company) — Central Index Key

FAQ

Filing Documents

• rjf-20241231.htm (10-Q) — 4757KB
• ex1012024123110q.htm (EX-10.1) — 148KB
• ex1022024123110q.htm (EX-10.2) — 81KB
• ex1032024123110q.htm (EX-10.3) — 81KB
• ex1042024123110q.htm (EX-10.4) — 99KB
• ex3112024123110q.htm (EX-31.1) — 11KB
• ex3122024123110q.htm (EX-31.2) — 11KB
• ex322024123110q.htm (EX-32) — 9KB
• 0000720005-25-000025.txt ( ) — 25144KB
• rjf-20241231.xsd (EX-101.SCH) — 104KB
• rjf-20241231_cal.xml (EX-101.CAL) — 181KB
• rjf-20241231_def.xml (EX-101.DEF) — 616KB
• rjf-20241231_lab.xml (EX-101.LAB) — 1226KB
• rjf-20241231_pre.xml (EX-101.PRE) — 903KB
• rjf-20241231_htm.xml (XML) — 6092KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Financial Condition (Unaudited) 3 Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) 4 Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) Note 1 - Organization and basis of presentation 8 Note 2 - Update of significant accounting policies 8 Note 3 - Fair value 9 Note 4 - Available-for-sale securities 14 Note 5 - Derivative assets and derivative liabilities 17 Note 6 - Collateralized agreements and financings 19 Note 7 - Bank loans, net 21 Note 8 - Loans to financial advisors, net 27 Note 9 - Variable interest entities 28 Note 10 - Other assets 29 Note 11 - Leases 29 Note 12 - Bank deposits 30 Note 13 - Other borrowings 31 Note 14 - Income taxes 32 Note 15 - Commitments, contingencies and guarantees 33 Note 16 - Shareholders' equity 35 Note 17 - Revenues 38 Note 18 - Interest income and interest expense 40 Note 19 - Share-based compensation 40 Note 20 - Regulatory capital requirements 41 Note 21 - Earnings per share 43 Note 22 - Segment information 44

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 46

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 82

Controls and Procedures

Item 4. Controls and Procedures 82

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 83

Risk Factors

Item 1A. Risk Factors 83

Unregistered Sales of Equity Securities and Use of Proceeds 83

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 83

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 83

Mine Safety Disclosures 83

Item 4. Mine Safety Disclosures 83

Other Information

Item 5. Other Information 83

Exhibits

Item 6. Exhibits 84

Signatures

Signatures 85 2 Index

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) $ in millions, except per share amounts December 31, 2024 September 30, 2024 Assets: Cash and cash equivalents $ 10,048 $ 10,998 Assets segregated for regulatory purposes and restricted cash 3,532 3,350 Collateralized agreements 530 749 Financial instruments, at fair value: Trading assets ( $ 1,212 and $ 1,263 pledged as collateral) 1,459 1,480 Available-for-sale securities ( $ 11 and $ 11 pledged as collateral) 7,727 8,260 Derivative assets 91 103 Other investments ( $ 7 and $ 7 pledged as collateral) 299 302 Brokerage client receivables, net 2,650 2,711 Other receivables, net 1,508 1,825 Bank loans, net 47,164 45,994 Loans to financial advisors, net 1,351 1,326 Deferred income taxes, net 651 651 Goodwill and identifiable intangible assets, net 1,858 1,886 Other assets 3,414 3,357 Total assets $ 82,282 $ 82,992 Liabilities and shareholders' equity: Bank deposits $ 55,850 $ 56,010 Collateralized financings 768 938 Financial instrument liabilities, at fair value: Trading liabilities 835 976 Derivative liabilities 330 224 Brokerage client payables 5,702 5,825 Accrued compensation, commissions and benefits 1,787 2,325 Other payables 1,992 1,938 Other borrowings 1,049 1,049 Senior notes payable 2,040 2,040 Total liabilities 70,353 71,325 Commitments and contingencies (see Note 15) Shareholders' equity Preferred stock 79 79 Common stock; $ .01 par value; 650,000,000 shares authorized; 250,025,894 shares issued and 204,582,573 shares outstanding as of December 31, 2024; 249,972,182 shares issued and 203,291,449 shares outstanding as of September 30, 2024 3 2 Additional paid-in capital 3,125 3,251 Retained earnings 12,378 11,894 Treasury stock, at cost; 45,443,321 and 46,680,733 common shares as of December 31, 2024 and September 30, 2024, respectively ( 3,007 ) ( 3,051 ) Accumul

View Full Filing

View this 10-Q filing on SEC EDGAR