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Stifel Financial (SF) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Stifel Financial (SF) reported revenue of $1.7B for the first quarter 2026 (Q1 2026), +13% from a year earlier and -5% from the quarter before. Operating margin was 19.6%, net earnings $251M (15.1% of revenue).
Stifel Financial, Q1 2026: revenue $1.7B (+13% year over year), operating margin 19.6%, net earnings $251M, operating cash flow −$343M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | -5% | +13% |
| Operating profit | $326M | +6% | +415% |
| Net earnings | $251M | -5% | +374% |
| Operating cash flow | −$343M | -190% | — |
What changed
Revenue was $1.7B in Q1 2026, up 13% year over year and down 5% from the previous quarter. Asset Management1 was the largest line at 28% of revenue. Investment Banking added $0.10B year over year (up 43%), 53% of the total change.
Operating profit was $0.33B, a 19.6% margin (up 15.3 points year over year). Of the extra revenue versus Q1 2025, 134% reached operating profit, above the 4% margin then. Total costs fell 5% while revenue rose 13%. Net earnings were $0.25B, up 374% year over year. The effective tax rate was 22.9%.
Operating cash flow was −$0.34B. Non-cash charges added back $0.02B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items used $0.67B. Capital expenditures of $0.05B exceeded it, leaving free cash flow of −$0.39B.
Questions
What was Stifel Financial's revenue in the first quarter 2026?
Stifel Financial (SF) reported revenue of $1.7B for the first quarter 2026 (Q1 2026), +13% from a year earlier and -5% from the quarter before.
Was Stifel Financial profitable in the first quarter 2026?
Operating profit was $326M (19.6% of revenue) and net earnings $251M.
Source: Stifel Financial 10-Q on SEC EDGAR.