Stock fact sheet · data as of
Raymond James Financial, Inc. (RJF): fair value, margin of safety and Wheel Score
Ticker symbol RJF · Financial Services · Asset Management · United States · Blend
Is RJF undervalued?
RJF has a margin of safety of 43%: the stock closed at 168.69 on 5 Nov 2026 against a GLS average fair value of 294.65. 6 of the 8 valuation models that produced a number sit above the price. Our scans 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 8 models disagree widely: DDM gives 31.78 while GLS Growth gives 526.89. 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.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for RJF, so the nightly engine files it under Blend (value score 61, growth score 63, out of 100).
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 | 478.72 | +184% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | 476.50 | +182% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 191.28 | +13% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 526.89 | +212% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 236.64 | +40% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 278.45 | +65% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 31.78 | -81% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 136.97 | -19% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.0000 | -100% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 170.00 | +1% | 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 7.4 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are thin or negative - ROIC 0.0%, ROE 0.0%, ROA 1527.7% - with debt at 0.00 times equity and a free-cash-flow yield of 4.7%.
The dividend yield is 1.28% with a payout ratio of 23% - 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 | 0.0% |
|---|---|---|---|
| GLS Moat | 7.4 / 10 | ROE | 0.0% |
| Debt / equity | 0.00 | ROA | 1527.7% |
| Free-cash-flow yield | 4.7% | Payout ratio | 23% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 81: Good
RJF scores 81 out of 100 on the Wheel Score (Good band, 70-84): it passes all 9 Wheel Trade Filters. How it ranks: value strong, premium fair, moat good, health good, red flags strong, option trading fair, stability strong; Option trading (fair) holds it back.
Implied volatility is 26% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 10,658 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.2M shares a day on a market cap of $32.4B, with a beta of 0.94; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 43% below fair value | |
| Premium | Fair | implied volatility 26% | |
| Moat | Good | moat 7.4/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Fair | 1,334 contracts a day, 10,658 open interest | |
| Stability | Strong | beta 0.94, $32.4B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 27 Jan 2027, 83 days away - outside the window of a 30-45-day put sold today.
No analyst upgrades or downgrades were recorded in the last 30 days.
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 |
|---|---|---|---|---|---|
| NTRS Northern Trust Corporation | 178.02 | 304.08 | +41% | 80Good | $32.2B |
| NTRSO Northern Trust Corporation | 17.77 | 117.23 | +85% | 38No options | $31.9B |
| JUEZX JPMorgan U.S. Equity Fund Class R2 | 27.99 | 125.21 | +78% | 29No options | $31.7B |
| JMUEX JPMorgan U.S. Equity Fund | 28.75 | 766.25 | +96% | 29No options | $31.7B |
| JUESX JPMorgan U.S. Equity Fund Class I | 28.66 | 128.70 | +78% | 29No options | $31.7B |
| FFTHX Fidelity Freedom 2035 Fund | 18.79 | 16.33 | -15% | 14No options | $34.0B |
| FFFEX Fidelity Freedom 2030 Fund | 20.52 | 0.7953 | -2480% | 15No options | $34.1B |
| FFEGX Fidelity Freedom Index 2030 Fund | 24.16 | - | - | 15No options | $28.6B |
| VIPSX Vanguard Inflation-Protected Securities Fund Investor Shares | 11.37 | 1.17 | -871% | 15No options | $27.0B |
| PARDX T. Rowe Price Retirement 2040 Fund | 37.52 | 11.41 | -229% | 11No options | $26.5B |
| SLV iShares Silver Trust | 47.16 | - | - | 37Weak | $26.5B |
| APHKX Artisan International Value Fund Institutional Class | 62.92 | 46.89 | -34% | 15No options | $25.9B |
⚖ Compare RJF with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about RJF
Is RJF undervalued right now?
By the GLS models, yes: at 168.69 the stock is 43% below the average fair value of 294.65 (data as of 5 Nov 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 81 out of 100 (Good). The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for RJF?
294.65 per share as of 5 Nov 2026 - the simple average of the 8 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 27 Jan 2027, 83 days from the data date of 5 Nov 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 136 listed contracts with 10,658 open interest across all expiries and implied volatility of 26% 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.