STIFEL FINANCIAL CORP

Listed Company

SFBCIK 0000720672NYSELarge AcceleratedSecurity Brokers, Dealers & Flotation CompaniesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.35B

Net Income

$683.78M

Total Assets

$41.27B

Equity

$5.98B

Shares Out

69.58M

Op. Cash Flow

$1.12B

+ 13F Filer

Business

STIFEL FINANCIAL CORP is a diversified financial holding company that provides wealth management, institutional sales and trading, and investment banking services through its broker‑dealer, banking, trust, and asset management subsidiaries. It offers private client brokerage and financial planning, institutional equity and fixed income sales and trading, research, mergers and acquisitions and capital markets advisory, public finance, asset management, and retail and commercial banking products including lending and securities‑based lending. Its key business segments are Global Wealth Management, Institutional Group, and Other. The company serves clients across the United States, Canada, the U.K., and Europe through branch offices, independent contractors, institutional sales channels, and digital and intermediary distribution networks.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Commissions	814	756	674	711	810
Principal transactions	645	605	490	529	581
Investment banking	1,251	995	731	971	1,565
Asset management	1,700	1,537	1,299	1,263	1,207
Interest	1,904	2,016	1,956	1,099	548
Other income	34	43	9	20	72
Total revenues	6,348	5,952	5,159	4,593	4,783
Interest expense	818	981	810	201	46
Net revenues	5,530	4,970	4,349	4,391	4,737
Compensation and benefits	3,272	2,916	2,555	2,586	2,820
Occupancy and equipment rental	382	362	339	313	290
Communications and office supplies	196	194	185	175	165
Commissions and floor brokerage	66	63	58	58	60
Provision for credit losses	38	25	25	34	−12
Other operating expenses	703	481	480	340	346
Total non-interest expenses	4,659	4,042	3,642	3,506	3,670
Income before income tax expense	871	928	707	885	1,067
Provision for income taxes	187	197	184	223	242
Net income	684	731	523	662	825
Preferred dividends	37	37	37	37	36
Net income available to common shareholders	646	694	485	625	789
Basic (per share)	6.25	6.67	4.55	5.74	7.34
Diluted (per share)	5.87	6.25	4.28	5.32	6.66
Cash dividends declared per common share	1.84	1.68	1.44	1.2	0.6
Basic (shares)	103	104	107	109	108
Diluted (shares)	110	111	113	118	119

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-07-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	2,254	2,648	—	3,362	2,200
Cash segregated for regulatory purposes	29	30	—	162	29
Brokerage clients, net	1,138	897	—	842	924
Brokers, dealers, and clearing organizations	572	486	—	414	418
Securities purchased under agreements to resell	564	529	—	350	348
Financial instruments owned, at fair value	1,428	1,169	—	919	732
Available-for-sale securities, at fair value	1,593	1,585	—	1,552	1,636
Held-to-maturity securities, at amortized cost	6,549	6,525	—	5,889	5,990
Held for investment, net	21,925	20,732	—	19,306	20,465
Held for sale, at lower of cost or fair value	502	579	—	424	157
Investments, at fair value	82	75	—	91	99
Fixed assets, net	197	193	—	192	200
Operating lease right-of-use assets, net	789	809	—	778	776
Goodwill	1,464	1,395	—	1,388	1,327
Intangible assets, net	108	114	—	133	131
Loans and advances to financial advisors and other employees, net	745	682	—	683	654
Deferred tax assets, net	151	152	—	122	159
Other assets	1,181	1,294	—	1,122	950
Total assets	41,271	39,896	—	37,727	37,196
Brokerage clients	432	469	—	735	770
Brokers, dealers, and clearing organizations	303	215	—	232	95
Drafts	143	127	—	118	102
Securities sold under agreements to repurchase	651	580	—	418	212
Bank deposits	29,752	29,102	—	27,335	27,117
Financial instruments sold, but not yet purchased, at fair value	794	646	—	498	455
Accrued compensation	989	790	—	586	677
Lease liabilities, net	856	867	—	826	—
Accounts payable and accrued expenses	701	735	—	512	1,264
Senior notes, net	617	617	500	1,116	1,115
Debentures to Stifel Financial Capital Trusts	55	60	—	60	60
Total liabilities	35,293	34,209	—	32,433	31,868
Preferred stock - $1 par value; authorized 3,000,000 shares; issued 27,400 shares	685	685	—	685	685
Common stock - $0.15 par value; authorized 194,000,000 shares; issued 111,662,776 and 111,662,571 shares, respectively	17	17	—	17	17
Additional paid-in-capital	1,916	1,896	—	1,905	1,928
Retained earnings	4,163	3,795	—	3,399	3,169
Accumulated other comprehensive loss	−18	−76	—	−74	−118
Treasury stock, at cost, 9,998,343 and 9,491,204 shares, respectively	−786	−630	—	−637	−352
Total equity	5,977	5,687	—	5,294	5,328
Total liabilities and equity	41,271	39,896	—	37,727	37,196

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	61	62	61	51	46
Amortization of loans and advances to financial advisors and other employees	148	154	145	132	115
Amortization of premium on investment portfolio	7	9	10	12	17
Amortization of intangible assets	34	24	21	20	18
Deferred income taxes	−21	−31	16	13	32
Stock-based compensation	164	154	140	136	119
Unrealized gains on investments	−5	−88,000	−460,000	12	3
Gain on sale of leased aircraft engines	−41	−46	−4	0	—
Other, net	2	−12	7	9	26
Brokerage clients, net	−241	−56	83	228	−214
Brokers, dealers, and clearing organizations	−85	−71	5	156	−8
Securities purchased under agreements to resell	−35	−179	−2	232	−267
Financial instruments owned	−259	−216	−132	425	−271
Loans originated as held for sale	−2,171	−2,083	−995	−576	−1,998
Proceeds from loans held for sale	2,631	2,115	865	593	2,314
Loans and advances to financial advisors and other employees, net	−206	−158	−182	−132	−173
Other assets	61	3	−108	−66	−97
Brokerage clients	−37	−266	−36	−202	−92
Brokers, dealers, and clearing organizations	15	−60	43	−82	7
Drafts	16	9	15	−20	5
Financial instruments sold, but not yet purchased	147	114	13	−301	230
Other liabilities and accrued expenses	210	268	−14	−177	247
Net cash provided by operating activities	1,117	490	499	1,157	872
Principal paydowns, calls, and maturities of available-for-sale securities	376	274	138	330	562
Calls and principal paydowns of held-to-maturity securities	2,082	2,191	101	115	1,751
Sale or maturity of investments	45,000	4	16	21	20
Sale of leased aircraft engines	117	70	0	0	—
Decrease/(increase) in loans held for investment, net	−1,613	−1,618	1,002	−3,823	−5,609
Purchase of available-for-sale securities	−327	−309	−20	−103	−814
Purchase of held-to-maturity securities	−2,106	−2,827	0	−754	−2,668
Purchase of investments	−6	−13	−29	−16	−23
Purchase of fixed assets	−62	−74	−52	−82	−188
Acquisitions, net of cash received	−75	−8	−112	−12	−144
Net cash provided by/(used in) investing activities	−1,614	−2,310	1,045	−4,325	−6,966
Increase in securities sold under agreements to repurchase	71	163	206	−174	136
Increase in bank deposits, net	650	1,768	217	3,837	5,884
Increase in securities loaned	73	43	68	−81	4
Tax payments related to shares withheld for stock-based compensation plans	−123	−121	−94	−103	−79
Repayment of short-term debt	−87	0	0	—	—
Repayment of senior notes	0	−500	0	0	—
Repurchase of common stock	−245	−144	−444	−106	−173
Cash dividends on preferred stock	−37	−37	−37	−37	−36
Cash dividends paid to common stock and equity-award holders	−206	−190	−163	−134	−66
Payment of contingent consideration	−312,000	−962,000	−7	−11	−17
Extinguishment of Stifel Financial Capital Trust	−4	0	0	—	—
Net cash provided by/(used in) financing activities	91	980	−255	3,191	5,794
Effect of exchange rate changes on cash	10	−6	5	55	−4
Increase/(decrease) in cash, cash equivalents, and cash segregated for regulatory purposes	−395	−846	1,295	79	−303
Cash paid for interest	834	996	822	221	63
Cash paid for income taxes, net of refunds	200	233	184	217	289
Transfer of loans held for investment to held for sale	694	164	131	—	—
Transfer of loans held for sale to held for investment	315	0	0	—	—
Unit grants, net of forfeitures	244	167	189	195	157

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 8,263 positions

Reported AUM

$73.28B

Holdings

8.3K

Top sector

$73.28B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$73.28B	100.0%

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