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

Jefferies Financial brought in $10.8B of revenue in fiscal 2025, Raymond James Financial $15.9B in fiscal 2025. Revenue changed by +2.9% at Jefferies Financial and +6.6% at Raymond James Financial on the year before, so Raymond James Financial grew faster. Jefferies Financial kept 5.8% of its revenue as net profit, Raymond James Financial 13.4%. Free cash flow was -$1.7B at Jefferies Financial and $2.2B at Raymond James Financial.

Side by side, latest fiscal year

JEFRJF
Fiscal year endedFY2025 (November 30, 2025)FY2025 (September 30, 2025)
Revenue$10.8B$15.9B
Revenue growth+2.9%+6.6%
Net income$630.8M$2.1B
Net margin5.8%13.4%
Free cash flow-$1.7B$2.2B
Free cash flow margin-15.7%14.1%
Earnings per share (diluted)$2.83$10.30
Cash$14B$11.4B
Debt$15.9Bn/a
Price to earnings16.915.5
Market value$9.2B$30.8B
Dividend yield3.36%1.25%
Rank by revenue in sector#60 of 444 · Finance#40 of 444 · Finance

Over the years

Revenue
JEF FY2017: $7.4BJEF FY2019: $5.4BJEF FY2020: $6.9BJEF FY2021: $8.9BJEF FY2022: $7.1BJEF FY2023: $7.4BJEF FY2024: $10.5BJEF FY2025: $10.8BRJF FY2018: $7.5BRJF FY2019: $8BRJF FY2020: $8.2BRJF FY2021: $9.9BRJF FY2022: $11.3BRJF FY2023: $13BRJF FY2024: $14.9BRJF FY2025: $15.9BFY17FY18FY19FY20FY21FY22FY23FY24FY25
JEF $10.8BRJF $15.9B
Net income
JEF FY2017: $167.4MJEF FY2019: $959.6MJEF FY2020: $769.6MJEF FY2021: $1.7BJEF FY2022: $774.2MJEF FY2023: $260.9MJEF FY2024: $669.3MJEF FY2025: $630.8MRJF FY2018: $857MRJF FY2019: $1BRJF FY2020: $818MRJF FY2021: $1.4BRJF FY2022: $1.5BRJF FY2023: $1.7BRJF FY2024: $2.1BRJF FY2025: $2.1BFY17FY18FY19FY20FY21FY22FY23FY24FY25
JEF $630.8MRJF $2.1B
Net margin
JEF FY2017: 2.3%JEF FY2019: 17.9%JEF FY2020: 11.2%JEF FY2021: 18.6%JEF FY2022: 10.8%JEF FY2023: 3.5%JEF FY2024: 6.4%JEF FY2025: 5.8%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%FY17FY18FY19FY20FY21FY22FY23FY24FY25
JEF 5.8%RJF 13.4%
Revenue growth
JEF FY2020: +28.4%JEF FY2021: +30.0%JEF FY2022: -20.1%JEF FY2023: +4.1%JEF FY2024: +41.3%JEF FY2025: +2.9%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
JEF +2.9%RJF +6.6%
Free cash flow
JEF FY2020: $1.9BJEF FY2021: $1.4BJEF FY2022: $1.6BJEF FY2023: -$1.9BJEF FY2024: -$391.1MJEF FY2025: -$1.7BRJF FY2018: $750MRJF FY2019: $439MRJF FY2020: $3.9BRJF FY2021: $6.6BRJF FY2022: -$19MRJF FY2023: -$3.7BRJF FY2024: $2BRJF FY2025: $2.2BFY18FY19FY20FY21FY22FY23FY24FY25
JEF -$1.7BRJF $2.2B

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

Questions about Jefferies Financial and Raymond James Financial

Which is bigger by revenue, Jefferies Financial or Raymond James Financial?

Raymond James Financial is bigger by revenue: $15.9B in fiscal 2025, against $10.8B for Jefferies Financial in fiscal 2025.

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

Jefferies Financial had a net margin of 5.8% in fiscal 2025; Raymond James Financial had 13.4% in fiscal 2025.

Which grew revenue faster, Jefferies Financial or Raymond James Financial?

In their latest fiscal years revenue changed by +2.9% at Jefferies Financial 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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