Raymond James Financial, Inc. (RJF)
Raymond James provides wealth management, investment banking, and brokerage services.
Financials stock comparison
RJF vs SCHW: which business are you actually underwriting?
Compare Raymond James Financial, Inc. with The Charles Schwab Corporation using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Financials
- Industry
- Same SIC
- Shared themes
- 1
- Updated
- 2026-02-25
RJF vs SCHW: quick comparison
| Company fact | RJF | SCHW |
|---|---|---|
| Company | Raymond James Financial, Inc. | The Charles Schwab Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | — | Westlake, Texas |
| Founded | — | 1971 |
| SEC industry | Security Brokers, Dealers & Flotation Companies | Security Brokers, Dealers & Flotation Companies |
| Fiscal year-end | September 30 | December 31 |
| Latest annual filing | 10-K · 2025-11-25 | 10-K · 2026-02-25 |
RJF vs SCHW: audited financials
SCHW reported about 1.5× the revenue of RJF in the latest audited fiscal year. On profitability, RJF converted a larger share of revenue into net income (13.4% versus 0.0%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | RJF | SCHW |
|---|---|---|
| Revenue | $15.9B | $23.9B |
| Net income | $2.1B | $9M |
| Operating cash flow | $2.4B | $9.3B |
| Diluted EPS | $10.30 | $4.65 |
| Net margin | 13.4% | 0.0% |
RJF: FY ending 2025-09-30 · SCHW: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
RJF and SCHW share the SEC industry classification “Security Brokers, Dealers & Flotation Companies,” giving the comparison a primary-source operating relationship. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
The Charles Schwab Corporation (SCHW)
Charles Schwab is a leading brokerage and wealth-management firm serving individual investors and advisors. Its earnings blend trading and advisory fees with interest income earned on client cash.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. RJF is classified by the SEC as Security Brokers, Dealers & Flotation Companies, while SCHW is classified as Security Brokers, Dealers & Flotation Companies. The matching industry code strengthens the peer comparison, although product mix can still differ materially.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study RJF when…
- The shape of the yield curve and net interest margins
- Credit quality and loan-loss provisions
- Regulation and capital requirements
- Deal activity and market volatility
Study SCHW when…
- The shape of the yield curve and net interest margins
- Credit quality and loan-loss provisions
- Regulation and capital requirements
- Deal activity and market volatility
Shared research themes
Rates & central banks
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.RJF's fiscal year ends September 30, while SCHW's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 1matched transaction row for RJFand 19 for SCHW. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
RJF primary filings
SCHW primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving RJF or SCHW
RJF vs SCHW FAQs
Are RJF and SCHW direct competitors?
Raymond James Financial, Inc. and The Charles Schwab Corporation share the SEC industry classification “Security Brokers, Dealers & Flotation Companies.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Which is better, RJF or SCHW?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this RJF vs SCHW comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Raymond James Financial, Inc. and The Charles Schwab Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
RJF vs SCHW shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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