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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q3 FY262026-06-30 | Q2 FY262026-03-31 | Q1 FY262025-12-31 | Q4 FY252025-09-30 | Q3 FY252025-06-30 | Q2 FY252025-03-31 | Q1 FY252024-12-31 | Q4 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.36B | $4.26B | $4.18B | $4.19B | $3.84B | $3.85B | $4.04B | $4.00B |
| Cost of revenue | $434.00M | $403.00M | $441.00M | $463.00M | $444.00M | $442.00M | $498.00M | $541.00M |
| Gross profit | $3.93B | $3.86B | $3.74B | $3.73B | $3.40B | $3.40B | $3.54B | $3.46B |
| Gross margin | 90.1% | 90.5% | 89.4% | 88.9% | 88.4% | 88.5% | 87.7% | 86.5% |
| Selling, general and administrative | $509.00M | $460.00M | $455.00M | $478.00M | $443.00M | $410.00M | $406.00M | $418.00M |
| Operating expenses | $3.20B | $3.12B | $3.01B | $2.99B | $2.82B | $2.72B | $2.79B | $2.68B |
| Operating income | $750.00M | $735.00M | $728.00M | $731.00M | $563.00M | $671.00M | $749.00M | $760.00M |
| Operating margin | 17.2% | 17.2% | 17.4% | 17.4% | 14.7% | 17.5% | 18.6% | 19.0% |
| EBITDA | $750.00M | $735.00M | $728.00M | $731.00M | $563.00M | $671.00M | $749.00M | $760.00M |
| Income before taxes | $750.00M | $735.00M | $728.00M | $731.00M | $563.00M | $671.00M | $749.00M | $760.00M |
| Income taxes | $155.00M | $191.00M | $165.00M | $127.00M | $127.00M | $176.00M | $149.00M | $158.00M |
| Net income | $595.00M | $544.00M | $563.00M | $604.00M | $436.00M | $495.00M | $600.00M | $602.00M |
| Net margin | 13.6% | 12.8% | 13.5% | 14.4% | 11.3% | 12.9% | 14.9% | 15.0% |
| EPS, basic | $3.06 | $2.76 | $2.85 | $3.02 | $2.16 | $2.41 | $2.94 | $2.92 |
| EPS, diluted | $3.01 | $2.72 | $2.79 | $2.95 | $2.12 | $2.36 | $2.86 | $2.85 |
| Diluted shares | 197.20M | 199.20M | 201.40M | 206.60M | 205.50M | 208.70M | 209.20M | 212.30M |
Figures describe Raymond James Financial shares, not any token. As of Aug 5, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.