Raymond James Financial (RJF) FY2019 results: revenue $7.7 billion, up 6.4% on the year
Raymond James Financial Inc. (RJF) reported revenue of $7.7 billion for fiscal 2019, the year ended 30 September 2019, up 6.4% on the year before. Net income was $1.0 billion, up 20.7%, and diluted earnings per share $4.78. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2019.
Revenue
$7.7 billion
+6.4% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$1.0 billion
+20.7% on the year
FY2012FY2019
Diluted EPS
$4.78
+24.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
7,740
7,274
6,371
+6.4%
Interest expense
283
202
154
+40.1%
Pre-tax income
1,375
1,311
925
+4.9%
Income tax
341
454
289
-24.9%
Effective tax rate
24.8%
34.6%
31.2%
Net income
1,034
857
636
+20.7%
Net margin
13.4%
11.8%
10.0%
Diluted EPS
$4.78
$3.83
$2.89
+24.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
577
884
-125
-34.7%
Capital expenditure
138
134
190
+3.0%
Free cash flow
439
750
-315
-41.5%
Free cash flow margin
5.7%
10.3%
-4.9%
Cash from investing
-1,897
-3,476
-3,376
Cash from financing
1,373
1,420
4,065
-3.3%
Depreciation and amortisation
97.0
85.0
71.0
+14.1%
Share-based compensation
112
99.0
109
+13.1%
Buybacks
778
62.0
34.1
+1,155.4%
Dividends paid
191
151
127
+26.5%
Dividend per share
$0.91
$0.73
$0.59
+23.6%
Diluted shares, weighted
216m
223m
220m
-3.3%
Shares outstanding at period end
207m
218m
216m
-5.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
6,581
6,368
5,582
+3.3%
Non-controlling interest
62.0
83.9
112
-26.1%
Deposits
22,281
19,942
17,732
+11.7%
Other liabilities
9,906
11,019
11,458
-10.1%
Total liabilities and equity
38,830
37,413
34,883
+3.8%
Fixed assets
527
486
437
+8.4%
Goodwill
464
478
411
-3.0%
Intangible assets
147
161
83.0
-8.6%
Securities held for sale or to maturity
3,093
n/a
2,188
Loans
20,891
19,518
17,007
+7.0%
Securities borrowed
248
255
138
-2.9%
Trading assets
n/a
n/a
564
Cash and equivalents
3,957
3,500
3,670
+13.0%
Other assets
9,503
13,014
10,385
-27.0%
Total assets
38,830
37,413
34,883
+3.8%
10-K for the year ended 30 September 2019, filed 26 November 2019: the filing.