Filing Flows › Stifel Financial (SF) › Q2 2025
Stifel Financial (SF) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Stifel Financial (SF) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +2% from a year earlier and +2% from the quarter before. Operating margin was 14.3%, net earnings $155M (10.4% of revenue).
Stifel Financial, Q2 2025: revenue $1.5B (+2% year over year), operating margin 14.3%, net earnings $155M, operating cash flow $607M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +2% | +2% |
| Operating profit | $214M | +237% | -6% |
| Net earnings | $155M | +193% | -6% |
| Operating cash flow | $607M | — | +27% |
| Free cash flow | $593M | — | +34% |
What changed
Revenue was $1.5B in Q2 2025, up 2% year over year and up 2% from the previous quarter. Asset Management1 was the largest line at 27% of revenue. Asset Management1 added $0.02B year over year (up 6%), 88% of the total change. Product and Service Other declined 24%.
Operating profit was $0.21B, a 14.3% margin (down 1.1 points year over year). Operating profit fell $0.01B even though revenue rose $0.03B versus a year earlier, so costs grew faster than sales. Total costs grew 3% against revenue growth of 2%. Net earnings were $0.16B, down 6% year over year. The effective tax rate was 27.5%.
Operating cash flow was $0.61B (up 27% year over year), 392% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.40B. Capital expenditures of $0.01B left free cash flow of $0.59B.
Questions
What was Stifel Financial's revenue in the second quarter 2025?
Stifel Financial (SF) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +2% from a year earlier and +2% from the quarter before.
Was Stifel Financial profitable in the second quarter 2025?
Operating profit was $214M (14.3% of revenue) and net earnings $155M.
Source: Stifel Financial 10-Q on SEC EDGAR.