Raymond James Financial (RJF) FY2014 results: revenue $4.9 billion, up 8.4% on the year
Raymond James Financial Inc. (RJF) reported revenue of $4.9 billion for fiscal 2014, the year ended 30 September 2014, up 8.4% on the year before. Net income was $480 million, up 30.8%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2014.
Revenue
$4.9 billion
+8.4% on the year
FY2008FY2014
Operating margin
n/a
FY2008FY2014
Net income
$480 million
+30.8% on the year
FY2008FY2014
Diluted EPS
$2.21
+28.7% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
4,861
4,485
3,807
+8.4%
Interest expense
104
110
91.4
-5.7%
Pre-tax income
748
564
468
+32.6%
Income tax
268
197
176
+35.9%
Effective tax rate
35.8%
34.9%
37.5%
Net income
480
367
296
+30.8%
Net margin
9.9%
8.2%
7.8%
Diluted EPS
$2.21
$1.72
$1.47
+28.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
508
660
391
-23.1%
Capital expenditure
60.1
72.9
77.5
-17.5%
Free cash flow
447
587
314
-23.8%
Free cash flow margin
9.2%
13.1%
8.2%
Cash from investing
-2,097
n/a
-2,731
Cash from financing
1,224
n/a
1,879
Depreciation and amortisation
64.2
66.4
51.4
-3.3%
Share-based compensation
69.6
61.9
55.7
+12.5%
Buybacks
8.4
11.7
20.9
-28.1%
Dividends paid
88.1
76.6
68.8
+15.0%
Dividend per share
$0.43
$0.37
$0.35
+14.3%
Diluted shares, weighted
215m
211m
198m
+2.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,141
3,663
3,269
+13.1%
Non-controlling interest
292
335
411
-12.9%
Deposits
10,029
9,295
8,600
+7.9%
Debt
1,191
1,195
n/a
-0.3%
Other liabilities
7,673
8,698
8,880
-11.8%
Total liabilities and equity
23,326
23,186
21,160
+0.6%
Fixed assets
245
244
231
+0.4%
Goodwill
295
295
300
0.0%
Intangible assets
58.8
66.0
61.1
-10.9%
Securities held for sale or to maturity
562
699
734
-19.5%
Securities borrowed
159
147
200
+8.3%
Trading assets
679
580
804
+17.2%
Cash and equivalents
2,199
2,597
1,980
-15.3%
Other assets
19,126
18,558
16,849
+3.1%
Total assets
23,326
23,186
21,160
+0.6%
10-K for the year ended 30 September 2014, filed 25 November 2014: the filing.