Raymond James Financial Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	2,098	2,135	2,068	1,739	1,509	1,403
Depreciation & Amortization, Total	111	109	102	96	83	72
Gain (Loss) On Sale of Investments	-14	-19	-36	-49	23	15
Stock-Based Compensation	240	254	254	237	192	132
Change in Accounts Receivable	-231	-106	-362	257	-203	-420
Change in Accounts Payable	-107	7	91	-6,088	-4,213	7,306
Change in Other Net Operating Assets	-493	194	275	58	2,268	-1,875
Other Operating Activities	-183	-146	-294	-174	207	-23
Operating Cash Flow	1,594	2,434	2,155	-3,514	72	6,647
Capital Expenditures	-193	-188	-205	-173	-91	-74
Cash Acquisitions	-	-	-	-	1,461	-266
Investment in Securities	1,297	1,379	1,485	576	-1,281	-1,041
Other Investing Activities	-63	-46	-64	-95	-218	-19
Investing Cash Flow	-5,249	-4,321	-968	-274	-7,151	-5,140
Long-Term Debt Issued	-	2,230	1,300	3,200	1,025	737
Total Debt Issued	2,030	2,230	1,300	3,200	1,025	737
Long-Term Debt Repaid	-	-1,098	-1,350	-3,391	-967	-875
Total Debt Repaid	-898	-1,098	-1,350	-3,391	-967	-875
Net Debt Issued (Repaid)	1,132	1,132	-50	-191	58	-138
Issuance of Common Stock	30	31	46	46	52	53
Repurchase of Common Stock	-1,595	-1,267	-984	-862	-216	-150
Dividends Paid	-423	-416	-383	-355	-277	-218
Other Financing Activities	4,293	2,881	1,809	2,840	6,262	5,685
Financing Cash Flow	3,437	2,361	438	1,438	5,879	5,232
Foreign Exchange Rate Adjustments	208	-35	175	239	-590	76
Net Cash Flow	-10	439	1,800	-2,111	-1,790	6,815
Free Cash Flow	1,401	2,246	1,950	-3,687	-19	6,573
Free Cash Flow Growth	-37.62%	15.18%	-	-	-	66.45%
Free Cash Flow Margin	9.86%	16.03%	15.24%	-32.03%	-0.18%	66.98%
Free Cash Flow Per Share	6.85	10.87	9.19	-17.00	-0.09	31.12
Cash Interest Paid	1,777	1,853	2,119	1,310	323	145
Cash Income Tax Paid	661	651	664	565	524	437

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.