Filing Flows › Raymond James Financial (RJF) › Q3 FY25
Raymond James Financial (RJF) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 6, 2025
Raymond James Financial (RJF) reported revenue of $3.8B for the third quarter fiscal 2025 (Q3 FY25), +2% from a year earlier and -0.1% from the quarter before. Operating margin was 14.7%, net earnings $436M (11.3% of revenue).
Raymond James Financial, Q3 FY25: revenue $3.8B (+2% year over year), operating margin 14.7%, net earnings $436M, operating cash flow $691M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | -0.1% | +2% |
| Operating profit | $563M | -16% | -13% |
| Net earnings | $436M | -12% | -11% |
| Operating cash flow | $691M | +491% | -3% |
| Free cash flow | $634M | +793% | -3% |
What changed
Revenue was $3.8B in Q3 FY25, up 2% year over year and roughly flat from the previous quarter.
Operating profit was $0.56B, a 14.7% margin (down 2.5 points year over year). Operating profit fell $0.08B even though revenue rose $0.08B versus a year earlier, so costs grew faster than sales. Total costs grew 5% against revenue growth of 2%. Net earnings were $0.44B, down 11% year over year. The effective tax rate was 22.6%.
Operating cash flow was $0.69B (down 3% year over year), 158% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.15B. Capital expenditures of $0.06B left free cash flow of $0.63B.
Questions
What was Raymond James Financial's revenue in the third quarter fiscal 2025?
Raymond James Financial (RJF) reported revenue of $3.8B for the third quarter fiscal 2025 (Q3 FY25), +2% from a year earlier and -0.1% from the quarter before.
Was Raymond James Financial profitable in the third quarter fiscal 2025?
Operating profit was $563M (14.7% of revenue) and net earnings $436M.