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Sep 30
Stifel Q3 2025 Earnings Report
Stifel reported record Q3 2025 results, with strong earnings growth driven by investment banking, asset management, and net interest income.
Key Takeaways
Stifel posted its highest Q3 revenue ever, powered by double-digit growth across investment banking and transactional revenues. Profitability improved with higher net income and EPS, while the firm continued to grow its client asset base and advisor network.
Record net revenues of $1.43 billion, up 17% YoY.
Net income available to common shareholders rose to $202.1 million.
EPS increased to $1.84, with non-GAAP EPS at $1.95.
Client assets reached a record $544 billion, including $219.2 billion in fee-based assets.
Stifel
Stifel
Stifel Revenue by Segment
Revenue by Segment
Global Wealth Mgmt Revenue
CapyFin.comInstitutional Group Revenue
CapyFin.com Forward Guidance
Stifel did not provide specific forward-looking financial guidance in the earnings release, but emphasized strong investment banking pipelines, record client assets, and growth in its wealth and banking platforms.
Positive Outlook
- Record investment banking pipelines position the firm well for future quarters.
- Client assets and fee-based assets at record highs.
- Integrated wealth and banking platform continues to gain traction.
- Strong financial advisor recruitment supports long-term growth.
- Cost control efforts improved non-compensation expense ratios.
Challenges Ahead
- No specific forward financial guidance provided.
- Interest revenue declined 5.7% YoY.
- Non-GAAP compensation and benefits still accounted for 58% of net revenue.
- Provision for credit losses increased YoY.
- Market volatility could impact capital markets and advisory activity.