What is Raymond James Financial Inc worth?
With the base-case assumptions below, a discounted cash flow model on Raymond James Financial Inc's reported free cash flow gives $394.32 per share. The share price was $159.87 on September 25, 2026, 59% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 9.5% | 10.0% | $262.10 | +64% |
| Base | 14.5% | 9.0% | $394.32 | +147% |
| Bull | 19.5% | 8.0% | $657.62 | +311% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $496.54 | $528.36 | $567.25 | $615.85 | $678.35 |
| 8.0% | $419.79 | $440.43 | $464.81 | $494.07 | $529.83 |
| 9.0% | $363.93 | $378.04 | $394.32 | $413.30 | $435.75 |
| 10.0% | $321.55 | $331.59 | $342.96 | $355.95 | $370.94 |
| 11.0% | $288.38 | $295.74 | $303.96 | $313.20 | $323.68 |
Where the presets come from
Base: years 1 to 5 grow at Raymond James Financial Inc's revenue growth rate over the last 5 fiscal years (14.3% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions