Raymond James Financial (RJF) FY2018 results: revenue $7.3 billion, up 14.2% on the year
Raymond James Financial Inc. (RJF) reported revenue of $7.3 billion for fiscal 2018, the year ended 30 September 2018, up 14.2% on the year before. Net income was $857 million, up 34.7%, and diluted earnings per share $3.83. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2018.
Revenue
$7.3 billion
+14.2% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$857 million
+34.7% on the year
FY2011FY2018
Diluted EPS
$3.83
+32.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
7,274
6,371
5,403
+14.2%
Interest expense
202
154
116
+31.4%
Pre-tax income
1,311
925
801
+41.6%
Income tax
454
289
271
+57.0%
Effective tax rate
34.6%
31.2%
33.9%
Net income
857
636
529
+34.7%
Net margin
11.8%
10.0%
9.8%
Diluted EPS
$3.83
$2.89
$2.43
+32.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
884
-125
-573
Capital expenditure
134
190
122
-29.5%
Free cash flow
750
-315
-695
Free cash flow margin
10.3%
-4.9%
-12.9%
Cash from investing
-3,476
-3,376
-2,918
Cash from financing
1,420
4,065
2,540
-65.1%
Depreciation and amortisation
85.0
71.0
63.0
+19.7%
Share-based compensation
99.0
109
78.5
-9.2%
Buybacks
62.0
34.1
163
+82.0%
Dividends paid
151
127
113
+18.7%
Dividend per share
$0.73
$0.59
$0.53
+25.0%
Diluted shares, weighted
223m
220m
217m
+1.5%
Shares outstanding at period end
218m
216m
212m
+1.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
6,368
5,582
4,914
+14.1%
Non-controlling interest
83.9
112
146
-24.9%
Deposits
19,942
17,732
14,263
+12.5%
Other liabilities
11,019
11,458
12,164
-3.8%
Total liabilities and equity
37,413
34,883
31,487
+7.3%
Fixed assets
486
437
321
+11.2%
Goodwill
478
411
408
+16.4%
Intangible assets
161
83.0
95.0
+93.8%
Securities held for sale or to maturity
n/a
2,188
859
Loans
19,518
17,007
15,211
+14.8%
Securities borrowed
255
138
171
+84.6%
Trading assets
n/a
564
714
Cash and equivalents
3,500
3,670
1,650
-4.6%
Other assets
13,014
10,385
12,057
+25.3%
Total assets
37,413
34,883
31,487
+7.3%
10-K for the year ended 30 September 2018, filed 21 November 2018: the filing.