Stifel Financial
SF · NYSESecurity Brokers, Dealers & Flotation Companies · Fiscal year ends Dec 31
Stifel Financial reported revenue of $3.8B in the fiscal year ended Dec 2025, up 14.5% from the year before. Net income was $684M. Operating cash flow of $1.1B less capital expenditure of $62M left free cash flow of $1.1B. It held more cash than debt (net cash $1.6B).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3.6B | $3B | $2.7B | $3.3B | $3.8B |
| Operating income | – | $885M | $707M | $928M | – |
| Interest expense | $46M | $201M | $810M | $981M | $818M |
| Pre-tax income | $1.1B | $885M | $707M | $928M | $871M |
| Income tax | $242M | $223M | $184M | $197M | $187M |
| Net income | $825M | $662M | $523M | $731M | $684M |
| Diluted EPS | 6.66 | 5.32 | 4.28 | 6.25 | 5.87 |
| Diluted shares | 119M | 118M | 113M | 111M | 110M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2B | $2.2B | $3.4B | $2.6B | $2.3B |
| Net PP&E | $168M | $200M | $192M | $193M | $197M |
| Goodwill | $1.3B | $1.3B | $1.4B | $1.4B | $1.5B |
| Total assets | $34B | $37.2B | $37.7B | $39.9B | $41.3B |
| Long-term debt | $1.1B | $1.1B | $1.1B | $617M | $617M |
| DepositsBanks | $23.3B | $27.1B | $27.3B | $29.1B | $29.8B |
| Total liabilities | $29B | $31.9B | $32.4B | $34.2B | $35.3B |
| Shareholders' equity | $5B | $5.3B | $5.3B | $5.7B | $6B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $872M | $1.2B | $499M | $490M | $1.1B |
| Capital expenditure | $188M | $82M | $52M | $74M | $62M |
| Free cash flow | $684M | $1.1B | $447M | $417M | $1.1B |
| Depreciation & amortisation | $46M | $51M | $61M | $62M | $61M |
| Stock-based compensation | $119M | $136M | $140M | $154M | $164M |
| Share buybacks | $173M | $106M | $444M | $144M | $245M |
| Dividend per share | 0.60 | 1.20 | 1.44 | 1.68 | 1.84 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −18.4% | −8.2% | 21.6% | 14.5% |
| Operating income growth (YoY) | – | – | −20.2% | 31.4% | – |
| EPS growth (YoY) | – | −20.1% | −19.5% | 46.0% | −6.1% |
| Operating margin | – | 30.0% | 26.1% | 28.2% | – |
| Net margin | 22.8% | 22.4% | 19.3% | 22.2% | 18.1% |
| Return on equityBlank when equity is negative | 16.4% | 12.4% | 9.9% | 12.9% | 11.4% |
| Free cash flow margin | 18.9% | 36.4% | 16.5% | 12.6% | 28.0% |
| Cash conversion (CFO ÷ net income) | 1.06x | 1.75x | 0.96x | 0.67x | 1.63x |
| Interest cover | – | 4.40x | 0.87x | 0.95x | – |
| Debt ÷ equity | 0.22x | 0.21x | 0.21x | 0.11x | 0.10x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$850M | −$1.1B | −$2.2B | −$2B | −$1.6B |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.