Stock fact sheet · data as of
Raymond James Financial, Inc. (RJF): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · Quality / Blue-Chip
Is RJF undervalued?
RJF has a margin of safety of 49%: the stock closed at 157.25 on 16 Oct 2026 against a GLS average fair value of 309.84. 6 of the 9 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
The 9 models disagree widely: DDM gives 31.78 while GLS Growth gives 727.70. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files RJF under Quality / Blue-Chip: a high moat score and a high health score together.
Nine valuation models for RJF
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 303.98 | +93% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 132.32 | -16% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 490.56 | +212% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 200.34 | +27% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 727.70 | +363% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 306.09 | +95% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 463.74 | +195% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 31.78 | -80% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 132.07 | -16% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -284.37 | -281% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 178.50 | +14% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health RJF scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 8.3 out of 10, built from ten years of revenue, earnings, margins, cash flow, share count and returns on capital scored for consistency - a high reading that points to a durable business.
Returns on capital are high - ROIC 12.5%, ROE 17.1%, ROA 2.4% - with debt at 0.36 times equity and a free-cash-flow yield of 7.5%.
The dividend yield is 1.37% with a payout ratio of 28% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Private Client Group 63%, RJ Bank 18%, Capital Markets 11% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 12.5% |
|---|---|---|---|
| GLS Moat | 8.3 / 10 | ROE | 17.1% |
| Debt / equity | 0.36 | ROA | 2.4% |
| Free-cash-flow yield | 7.5% | Payout ratio | 28% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 86: Prime
RJF scores 86 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 25/25), Piotroski health (16/20), the GLS moat (12/15), the option premium on offer (14/20) and how easily the stock trades (19/20).
Implied volatility is 29% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (14 of 20 points). Chain open interest is 13,130 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.2M shares a day on a market cap of $30.2B, with a beta of 0.95; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 49% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 12 / 15 | moat 8.3/10 | |
| Premium | 14 / 20 | implied volatility 29% | |
| Stability | 19 / 20 | 1.2M shares/day, $30.2B cap, beta 0.95 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Raymond James Financial, Inc. reports earnings on 28 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to Raymond James Financial, Inc. by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| NTRSO Northern Trust Corporation | 18.37 | 89.20 | +79% | 39No options | $30.3B |
| NTRS Northern Trust Corporation | 165.44 | 244.05 | +32% | 85Prime | $30.3B |
| JUESX JPMorgan U.S. Equity Fund Class I | 28.51 | 130.70 | +78% | 39No options | $31.0B |
| JMUEX JPMorgan U.S. Equity Fund | 28.60 | 763.72 | +96% | 39No options | $31.0B |
| JUEZX JPMorgan U.S. Equity Fund Class R2 | 27.85 | 127.21 | +78% | 39No options | $31.0B |
| FFEGX Fidelity Freedom Index 2030 Fund | 24.04 | 180.21 | +87% | 39No options | $28.3B |
| SLV iShares Silver Trust | 50.22 | - | - | 45Weak | $27.5B |
| VIPSX Vanguard Inflation-Protected Securities Fund Investor Shares | 11.21 | 1.17 | -857% | 28No options | $27.3B |
| FFTHX Fidelity Freedom 2035 Fund | 18.75 | 16.33 | -15% | 33No options | $33.5B |
| FFFEX Fidelity Freedom 2030 Fund | 20.44 | 76.52 | +73% | 39No options | $33.7B |
| PARDX T. Rowe Price Retirement 2040 Fund | 37.23 | 39.50 | +6% | 34No options | $25.9B |
| APHKX Artisan International Value Fund Institutional Class | 59.78 | 46.89 | -27% | 33No options | $24.6B |
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Start free See the Sunday ScanQuestions about RJF
Is RJF undervalued right now?
By the GLS models, yes: at 157.25 the stock is 49% below the average fair value of 309.84 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of RJF and what does it mean?
RJF scores 86 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for RJF?
309.84 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Raymond James Financial, Inc. report earnings next?
The next earnings report is due on 28 Oct 2026 (after the close), 12 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does RJF have listed options, and how liquid are they?
Yes. The nightly snapshot found 428 listed contracts with 13,130 open interest across all expiries and implied volatility of 29% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.