RJF · 10-Q · 2026Q2 · Full report
Revenue Performance and Mix
RAYMOND JAMES FINANCIAL INC · 2026-08-05 · Importance 48 · Surprise 40 · No source text
Fiscal third-quarter 2026 net revenues increased 16% year over year to $3.93 billion, while nine-month net revenues increased 11% to $11.52 billion. Quarterly growth was driven by higher asset management and related administrative fees, stronger mergers-and-acquisitions, advisory and debt-underwriting revenues, and increased Private Client Group brokerage activity. Nine-month growth primarily reflected higher asset management and related administrative fees and increased Private Client Group brokerage revenues, supported by higher client asset values and activity. Private Client Group net revenues increased 14% year over year in the quarter to $2.84 billion and 12% year to date to $8.42 billion, representing approximately 72% and 73% of consolidated net revenues, respectively.
Key facts
- Net revenues for the quarter ended June 30, 2026: $3,928 million, an increase of 16% compared with the prior-year quarter source
- Consolidated net revenues for quarter ended June 30, 2026: $2.84 billion, increased 14% year-over-year source
- For the nine months ended June 30, 2026, net revenues: $11,522 million, an increase of 11% compared with the prior-year period source
- Asset management and related administrative fees increased $743 million, or 17%, in the nine months ended June 30, 2026 versus prior-year period source
- PCG total revenues for the quarter ended June 30, 2026: $2,861 million and net revenues: $2,841 million source
- Asset Management Raymond James Investment Management AUM by objective as of June 30, 2026: Equity $23.5 billion at 0.58% average fee rate; Fixed income $65.6 billion at 0.29% fee; Balanced $34.2 billion at 0.35% fee; Total $123.3 billion at 0.36% average fee rate source
- Asset management and related administrative fees increased $272 million, or 19%, in the quarter ended June 30, 2026 versus prior-year quarter source
- Brokerage revenues increased $65 million, or 15%, in the quarter ended June 30, 2026 versus prior-year quarter source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +26.2% | For the nine months ended June 30, 2026, net revenues: $11,522 million, an increase of 11% compared with the prior-year period |
| revenue | positive | realized | +17.0% | Asset management and related administrative fees increased $743 million, or 17%, in the nine months ended June 30, 2026 versus prior-year… |
| revenue | positive | realized | +12.5% | Net revenues for the quarter ended June 30, 2026: $3,928 million, an increase of 16% compared with the prior-year quarter |
| revenue | positive | realized | +8.0% | Consolidated net revenues for quarter ended June 30, 2026: $2.84 billion, increased 14% year-over-year |
| revenue | positive | probable | +5.1% | Asset Management Raymond James Investment Management AUM by objective as of June 30, 2026: Equity $23.5 billion at 0.58% average fee rate;… |
| revenue | positive | realized | — | PCG total revenues for the quarter ended June 30, 2026: $2,861 million and net revenues: $2,841 million |
| revenue | positive | realized | — | PCG total revenues for the quarter ended June 30, 2026: $2,861 million and net revenues: $2,841 million |