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Goldman Sachs vs Raymond James Financial: revenue, profit, margins and growth compared

Goldman Sachs brought in $58.3B of revenue in fiscal 2025, Raymond James Financial $15.9B in fiscal 2025. Revenue changed by +8.9% at Goldman Sachs and +6.6% at Raymond James Financial on the year before, so Goldman Sachs grew faster. Goldman Sachs kept 29.5% of its revenue as net profit, Raymond James Financial 13.4%. Free cash flow was -$47.2B at Goldman Sachs and $2.2B at Raymond James Financial.

Side by side, latest fiscal year

GSRJF
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$58.3B$15.9B
Revenue growth+8.9%+6.6%
Net income$17.2B$2.1B
Net margin29.5%13.4%
Free cash flow-$47.2B$2.2B
Free cash flow margin-81.0%14.1%
Earnings per share (diluted)$51.32$10.30
Cash$164.3B$11.4B
Debtn/an/a
Price to earnings18.215.5
Market value$272.4B$30.8B
Dividend yield1.50%1.25%
Rank by revenue in sector#16 of 495 · Finance#43 of 495 · Finance

Over the years

Revenue
GS FY2018: $36.6BGS FY2019: $36.5BGS FY2020: $44.6BGS FY2021: $59.3BGS FY2022: $47.4BGS FY2023: $46.3BGS FY2024: $53.5BGS FY2025: $58.3BRJF FY2018: $7.5BRJF FY2019: $8BRJF FY2020: $8.2BRJF FY2021: $9.9BRJF FY2022: $11.3BRJF FY2023: $13BRJF FY2024: $14.9BRJF FY2025: $15.9BFY18FY19FY20FY21FY22FY23FY24FY25
GS $58.3BRJF $15.9B
Net income
GS FY2018: $10.5BGS FY2019: $8.5BGS FY2020: $9.5BGS FY2021: $21.6BGS FY2022: $11.3BGS FY2023: $8.5BGS FY2024: $14.3BGS FY2025: $17.2BRJF FY2018: $857MRJF FY2019: $1BRJF FY2020: $818MRJF FY2021: $1.4BRJF FY2022: $1.5BRJF FY2023: $1.7BRJF FY2024: $2.1BRJF FY2025: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
GS $17.2BRJF $2.1B
Net margin
GS FY2018: 28.6%GS FY2019: 23.2%GS FY2020: 21.2%GS FY2021: 36.5%GS FY2022: 23.8%GS FY2023: 18.4%GS FY2024: 26.7%GS FY2025: 29.5%RJF FY2018: 11.5%RJF FY2019: 12.9%RJF FY2020: 10.0%RJF FY2021: 14.2%RJF FY2022: 13.3%RJF FY2023: 13.4%RJF FY2024: 13.9%RJF FY2025: 13.4%FY18FY19FY20FY21FY22FY23FY24FY25
GS 29.5%RJF 13.4%
Revenue growth
GS FY2019: -0.2%GS FY2020: +21.9%GS FY2021: +33.2%GS FY2022: -20.2%GS FY2023: -2.3%GS FY2024: +15.7%GS FY2025: +8.9%RJF FY2019: +7.3%RJF FY2020: +1.8%RJF FY2021: +21.3%RJF FY2022: +14.1%RJF FY2023: +14.9%RJF FY2024: +14.9%RJF FY2025: +6.6%FY19FY20FY21FY22FY23FY24FY25
GS +8.9%RJF +6.6%
Free cash flow
GS FY2018: $8.6BGS FY2019: $15.4BGS FY2020: -$24.8BGS FY2021: $1.6BGS FY2022: $5BGS FY2023: -$14.9BGS FY2024: -$15.3BGS FY2025: -$47.2BRJF FY2018: $750MRJF FY2019: $439MRJF FY2020: $3.9BRJF FY2021: $6.6BRJF FY2022: -$19MRJF FY2023: -$3.7BRJF FY2024: $2BRJF FY2025: $2.2BFY18FY19FY20FY21FY22FY23FY24FY25
GS -$47.2BRJF $2.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Goldman Sachs and Raymond James Financial

Which is bigger by revenue, Goldman Sachs or Raymond James Financial?

Goldman Sachs is bigger by revenue: $58.3B in fiscal 2025, against $15.9B for Raymond James Financial in fiscal 2025.

Which keeps more of its revenue as profit, Goldman Sachs or Raymond James Financial?

Goldman Sachs had a net margin of 29.5% in fiscal 2025; Raymond James Financial had 13.4% in fiscal 2025.

Which grew revenue faster, Goldman Sachs or Raymond James Financial?

In their latest fiscal years revenue changed by +8.9% at Goldman Sachs and +6.6% at Raymond James Financial.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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