Raymond James Financial Reports Fiscal Fourth Quarter and Fiscal 2025 Results

Core Insights - Raymond James Financial, Inc. reported record net revenues of $3.73 billion and net income of $603 million for the fiscal fourth quarter ended September 30, 2025, marking a significant achievement in a challenging market environment [1][2] - The company achieved record annual net revenues of $14.07 billion for fiscal 2025, reflecting a 10% increase compared to fiscal 2024, with earnings per diluted share also reaching record levels [3][4] Financial Performance - Quarterly net revenues increased by 8% year-over-year and 10% sequentially, driven by higher asset management and investment banking revenues [2][4] - Quarterly adjusted net income available to common shareholders was $635 million, or $3.11 per diluted share, excluding acquisition-related expenses [1][2] - For fiscal 2025, record earnings per diluted share were $10.30, a 6% increase from fiscal 2024 [3][4] Client and Asset Management - The Private Client Group generated record net revenues, with assets under administration reaching $1.73 trillion, up 10% from September 2024 [4][10] - Domestic Private Client Group net new assets for the fiscal fourth quarter were $17.9 billion, reflecting an annualized growth rate of 5.0% [4][10] Investment Banking and Capital Markets - Quarterly net revenues in the Capital Markets segment increased by 6% year-over-year, with a notable 35% increase sequentially, driven by higher debt underwriting and advisory revenues [8][11] - The investment banking pipeline remains strong, with the recent acquisition of GreensLedge Holdings LLC expected to enhance the company's capital markets capabilities [8] Technology and Innovation - The company invested approximately $1 billion in technology, including AI, to improve service delivery and client insights [2] - New leadership positions were created, including Chief AI Officer and Head of AI Strategy, to spearhead ongoing technological advancements [2] Shareholder Returns - Over $1.5 billion was returned to shareholders through common share repurchases and dividends in fiscal 2025 [4][16] - The company repurchased $350 million of common stock during the fiscal fourth quarter, with $399 million remaining under the repurchase authorization [16]