Raymond James Financial (RJF) Revenue — Quarter Ended Dec 31, 2025
Revenue for the quarter was essentially flat compared to the immediately preceding quarter, but increased relative to the same quarter one year earlier. The year-over-year gain was supported by higher asset management and brokerage fees, partially offset by lower account and service fees and interest income.
Key takeaway
Quarter ended Dec 31, 2025 · FY2026 Q1
Revenue for the quarter was essentially flat compared to the immediately preceding quarter, but increased relative to the same quarter one year earlier. The year-over-year gain was supported by higher asset management and brokerage fees, partially offset by lower account and service fees and interest income.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.2B
Revenue reported for this quarter.
Quarter-over-quarter
-0.3%
Change from the immediately preceding quarter.
Year-over-year
+3.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$16.1B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2025 | $3.8B | +5.7% |
| Jun 30, 2025 | $3.8B | +2.1% |
| Sep 30, 2025 | $4.2B | +4.7% |
| Dec 31, 2025 | $4.2B | +3.5% |
Revenue performance
Total revenues rose year over year, driven by growth in asset management and related administrative fees as well as brokerage revenues across all product categories. However, account and service fees declined, primarily due to a sharp drop in third-party bank fees.
Quarterly comparison
Compared to the prior quarter, revenue was nearly unchanged, while year-over-year revenue increased. The sequential stability reflects mixed movements across revenue lines, with asset management fees rising but account and service fees and interest income falling.
What to watch
The significant decline in third-party bank fees within account and service fees warrants attention in upcoming quarters.