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

Raymond James Financial brought in $15.9B of revenue in fiscal 2025, Schwab Charles $23.9B in fiscal 2025. Revenue changed by +6.6% at Raymond James Financial and +22.0% at Schwab Charles on the year before, so Schwab Charles grew faster. Raymond James Financial kept 13.4% of its revenue as net profit, Schwab Charles 37.0%. Free cash flow was $2.2B at Raymond James Financial and $8.8B at Schwab Charles.

Side by side, latest fiscal year

RJFSCHW
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$15.9B$23.9B
Revenue growth+6.6%+22.0%
Net income$2.1B$8.9B
Net margin13.4%37.0%
Free cash flow$2.2B$8.8B
Free cash flow margin14.1%36.6%
Earnings per share (diluted)$10.30$4.65
Cash$11.4B$46B
Debtn/a$22.2B
Price to earnings15.521.3
Market value$30.8B$171.3B
Dividend yield1.25%1.09%
Rank by revenue in sector#40 of 444 · Finance#26 of 444 · Finance

Over the years

Revenue
RJF FY2018: $7.5BRJF FY2019: $8BRJF FY2020: $8.2BRJF FY2021: $9.9BRJF FY2022: $11.3BRJF FY2023: $13BRJF FY2024: $14.9BRJF FY2025: $15.9BSCHW FY2018: $10.1BSCHW FY2019: $10.7BSCHW FY2020: $11.7BSCHW FY2021: $18.5BSCHW FY2022: $20.8BSCHW FY2023: $18.8BSCHW FY2024: $19.6BSCHW FY2025: $23.9BFY18FY19FY20FY21FY22FY23FY24FY25
RJF $15.9BSCHW $23.9B
Net income
RJF FY2018: $857MRJF FY2019: $1BRJF FY2020: $818MRJF FY2021: $1.4BRJF FY2022: $1.5BRJF FY2023: $1.7BRJF FY2024: $2.1BRJF FY2025: $2.1BSCHW FY2018: $3.5BSCHW FY2019: $3.7BSCHW FY2020: $3.3BSCHW FY2021: $5.9BSCHW FY2022: $7.2BSCHW FY2023: $5.1BSCHW FY2024: $5.9BSCHW FY2025: $8.9BFY18FY19FY20FY21FY22FY23FY24FY25
RJF $2.1BSCHW $8.9B
Net margin
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%SCHW FY2018: 34.6%SCHW FY2019: 34.5%SCHW FY2020: 28.2%SCHW FY2021: 31.6%SCHW FY2022: 34.6%SCHW FY2023: 26.9%SCHW FY2024: 30.3%SCHW FY2025: 37.0%FY18FY19FY20FY21FY22FY23FY24FY25
RJF 13.4%SCHW 37.0%
Revenue growth
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%SCHW FY2019: +5.8%SCHW FY2020: +9.0%SCHW FY2021: +58.4%SCHW FY2022: +12.1%SCHW FY2023: -9.3%SCHW FY2024: +4.1%SCHW FY2025: +22.0%FY19FY20FY21FY22FY23FY24FY25
RJF +6.6%SCHW +22.0%
Free cash flow
RJF FY2018: $750MRJF FY2019: $439MRJF FY2020: $3.9BRJF FY2021: $6.6BRJF FY2022: -$19MRJF FY2023: -$3.7BRJF FY2024: $2BRJF FY2025: $2.2BSCHW FY2018: $11.9BSCHW FY2019: $8.6BSCHW FY2020: $6.2BSCHW FY2021: $1.2BSCHW FY2022: $1.1BSCHW FY2023: $18.9BSCHW FY2024: $2.1BSCHW FY2025: $8.8BFY18FY19FY20FY21FY22FY23FY24FY25
RJF $2.2BSCHW $8.8B

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

Questions about Raymond James Financial and Schwab Charles

Which is bigger by revenue, Raymond James Financial or Schwab Charles?

Schwab Charles is bigger by revenue: $23.9B in fiscal 2025, against $15.9B for Raymond James Financial in fiscal 2025.

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

Raymond James Financial had a net margin of 13.4% in fiscal 2025; Schwab Charles had 37.0% in fiscal 2025.

Which grew revenue faster, Raymond James Financial or Schwab Charles?

In their latest fiscal years revenue changed by +6.6% at Raymond James Financial and +22.0% at Schwab Charles.

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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