Stifel Financial (SF) AI Stock Analysis

• Market Cap: $12.65B
• Dividend Yield: 1.43%
• Average Volume (3M): 692.73K
• Price to Earnings (P/E): 21.2
• Beta (1Y): 1.29
• Revenue Growth: 7.54%
• EPS Growth: 2.73%
• Country: US
• Employees: 8,887
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 2.63
• Shares Outstanding: 101,828,330
• 10 Day Avg. Volume: 899,651
• 30 Day Avg. Volume: 692,729
• PEG Ratio: 0.32
• Price to Book (P/B): 1.94
• Price to Sales (P/S): 1.87
• P/FCF Ratio: 26.50
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 1.98
• Enterprise Value/Gross Profit: 2.32
• Enterprise Value/Ebitda: 13.29
• 1Y Price Target: $147.50
• Price Target Upside: 18.68% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 9.73
• Revenue Forecast (FY): $6.19B

• Rating: 72 Outperform
• Price Target: $140.00 ▲(12.65% Upside)

The score is driven primarily by a strong earnings-call outlook (constructive 2026 guidance, improving operating leverage targets, and solid capital position) and generally solid financial performance (healthy profitability and ROE with low leverage). These positives are moderated by only neutral technical momentum and a valuation that is reasonable but not notably cheap, alongside operational efficiency and free-cash-flow growth concerns.

Positive Factors

Scale and fee-based wealth assets

Large and growing client assets and fee-based balances create a durable recurring fee stream and client stickiness. $552B in client assets and $225B fee-based assets support resilient advisory revenues, improve margin stability, and enable cross-sell and advisor productivity gains over multiple quarters.

Diversified revenue with strong investment banking growth

Rapid investment-banking growth alongside wealth and NII strengthens revenue diversification. A material IB acceleration ($456M Q4, +50% YoY) reduces reliance on any single cycle, enhances fee volatility absorption, and positions the firm to capture structural market-share in advisory and ECM over the medium term.

Conservative leverage and strong capital

Low leverage and strong return on equity indicate a solid balance-sheet foundation. A D/E of 0.15 and healthy ROE provide financial flexibility to fund balance-sheet growth for NII, absorb shocks, support dividends/buybacks, and pursue strategic investments without raising leverage materially.

Negative Factors

Declining free cash flow growth

A -26.55% decline in free cash flow growth signals weakening cash generation despite good FCF conversion metrics. Persistent FCF contraction constrains internal funding for technology, recruiting, buybacks or higher dividends, and increases reliance on non-operational sources during revenue variability.

Negative EBIT margin / operating efficiency

A negative EBIT margin highlights underlying operating-profitability pressure despite healthy net margins. If core operating income remains weak, sustaining pretax margins and ROE will be harder, and planned operating-leverage improvements may be delayed until cost saves and reorg benefits are fully realized.

Structural top-line reduction from business exits

Removing ~ $100M of annual revenue is a structural near-term headwind that narrows the revenue base and reduces geographic/product diversification. Even if margin benefits follow, management must replace this revenue or deliver margin gains to meet growth and operating-leverage targets over the next several quarters.

Stifel Financial Business Overview & Revenue Model

Company Description

Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States, the United Kingdom, the rest of Europe, and Canada. It operates in three segments: Global Wealth Management, Institutional Group, and Other. The company provides private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading and research, and municipal finance services; investment banking services, such as mergers and acquisitions, public offerings, and private placements; and retail and commercial banking services comprising personal and commercial lending programs, as well as deposit accounts. It also participates in and manages underwritings for corporate and public finance; and offers financial advisory and securities brokerage services. The company was founded in 1890 and is headquartered in St. Louis, Missouri.

How the Company Makes Money

Stifel Financial generates revenue through multiple key streams, primarily from its Wealth Management segment, which earns fees from investment advisory services, commissions on trades, and management fees from assets under management. The Institutional Group contributes significantly to revenue through investment banking services, including underwriting, advisory fees from mergers and acquisitions, and commissions from institutional brokerage activities. Additionally, Stifel Bank & Trust generates income through interest on loans and fees for banking services. The company's diversified revenue model allows it to leverage various market conditions and client needs, enhancing its financial stability. Strategic partnerships with financial institutions and a strong network of financial advisors further contribute to Stifel's earnings, enabling it to attract a broad client base and expand its service offerings.

Stifel Financial Financial Statement Overview

Summary

Financial statements are solid overall: revenue growth is positive with healthy net margin and strong ROE alongside low leverage, but negative EBIT margin and declining free cash flow growth indicate operational and cash-flow pressure that temper the score.

Income Statement

Stifel Financial shows a consistent revenue growth trend, with a TTM revenue growth rate of 2.73%. The gross profit margin is strong at 48.61% for TTM, though it has decreased from previous years. The net profit margin is healthy at 12.92% for TTM, indicating profitability. However, the EBIT margin is negative, suggesting operational challenges. Overall, the income statement reflects solid revenue growth and profitability, but operational efficiency needs improvement.

Balance Sheet

The company's debt-to-equity ratio is low at 0.15 for TTM, indicating a conservative leverage approach. Return on equity is robust at 14.68% for TTM, showcasing effective use of equity. The equity ratio is not explicitly calculated, but the balance sheet shows a strong equity base relative to assets. Overall, the balance sheet is stable with low leverage and strong equity returns, but there is room for optimizing asset utilization.

Cash Flow

Free cash flow growth is negative at -26.55% for TTM, indicating cash flow challenges. The operating cash flow to net income ratio is not available for TTM, but historical data shows variability. The free cash flow to net income ratio is high at 93.96% for TTM, reflecting good cash conversion. Overall, the cash flow statement indicates strong cash conversion, but declining free cash flow growth is a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.12B	5.89B	5.10B	4.54B	4.72B	3.76B
Gross Profit	5.23B	4.88B	4.27B	4.30B	4.69B	3.66B
EBITDA	912.56M	1.01B	788.15M	955.33M	1.13B	711.64M
Net Income	663.42M	731.38M	522.54M	662.15M	824.86M	503.47M
Balance Sheet
Total Assets	41.69B	39.90B	37.73B	37.20B	34.05B	26.60B
Cash, Cash Equivalents and Short-Term Investments	3.72B	3.00B	3.68B	3.84B	4.08B	4.51B
Total Debt	3.08B	2.77B	2.92B	1.84B	2.32B	1.80B
Total Liabilities	35.93B	34.21B	32.43B	31.87B	29.01B	22.37B
Stockholders Equity	5.76B	5.69B	5.29B	5.33B	5.03B	4.24B
Cash Flow
Free Cash Flow	1.36B	416.65M	447.35M	1.08B	683.92M	1.59B
Operating Cash Flow	1.43B	490.44M	499.33M	1.16B	872.09M	1.66B
Investing Cash Flow	-1.71B	-2.31B	1.04B	-4.32B	-6.97B	-1.69B
Financing Cash Flow	1.55B	980.10M	-254.58M	3.19B	5.79B	1.20B

Stifel Financial Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 124.28
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SF, the sentiment is Neutral. The current price of 124.28 is below the 20-day moving average (MA) of 128.30, below the 50-day MA of 126.52, and above the 200-day MA of 111.35, indicating a neutral trend. The MACD of -0.76 indicates Positive momentum. The RSI at 42.19 is Neutral, neither overbought nor oversold. The STOCH value of 18.32 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SF.

Stifel Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVR	74 Outperform	$13.72B	28.29	31.39%	0.95%	27.00%	63.47%
SF	72 Outperform	$12.65B	21.16	11.72%	1.43%	7.54%	2.73%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LAZ	66 Neutral	$5.10B	22.14	30.80%	4.06%	1.58%	1.93%
HLI	64 Neutral	$11.76B	25.87	20.47%	1.33%	20.99%	25.02%
PIPR	62 Neutral	$6.12B	26.07	19.30%	1.63%	12.77%	36.43%
JEF	60 Neutral	$12.48B	21.32	6.13%	2.52%	-5.41%	25.28%

Stifel Financial Corporate Events

Stifel Financial Announces Stock Split and Dividend Increase

On January 28, 2026, Stifel Financial reported record full-year 2025 net revenues of $5.53 billion, up from $4.97 billion in 2024, driven by higher investment banking, asset management, transactional revenues, and net interest income, while GAAP net income to common shareholders declined to $646.5 million from $694.1 million due in part to elevated legal provisions. Fourth-quarter 2025 results also set a quarterly revenue record at $1.56 billion, with GAAP net income of $255.0 million and strong non-GAAP profitability metrics, including a 22.3% pre-tax margin and an annualized return on average tangible common equity of 31.1%, underscoring robust performance despite legal costs. The board approved an 11% increase in the common stock dividend starting in the first quarter of 2026 and, on January 26, 2026, declared a three-for-two stock split in the form of a 50% stock dividend for shareholders of record as of February 12, 2026, to be distributed on February 26, 2026, signaling management’s confidence and offering incremental benefits to shareholders through enhanced liquidity and higher cash returns.

The most recent analyst rating on (SF) stock is a Hold with a $138.00 price target. To see the full list of analyst forecasts on Stifel Financial stock, see the SF Stock Forecast page.

Stifel Financial Reports Record Client Assets and Deposits

On December 18, 2025, Stifel Financial reported selected operating results as of November 30, 2025, highlighting record total client assets of $553.6 billion, up 8% year over year, and record fee-based client assets of $224.7 billion, up 14%, driven by strong advisor recruiting and market gains. Client money market and insured product balances rose 1% from October as higher Sweep balances offset declines in Smart Rate, while Treasury deposits surged 9% month over month and 96% from a year earlier, underscoring accelerating deposit growth; management noted elevated activity in the Institutional Group and, despite disruption from the government shutdown, indicated expectations for a strong fourth quarter, signaling solid operational momentum and resilient client engagement.

The most recent analyst rating on (SF) stock is a Buy with a $141.00 price target. To see the full list of analyst forecasts on Stifel Financial stock, see the SF Stock Forecast page.

Stifel Financial Reports Record High Client Assets

On November 20, 2025, Stifel Financial Corp. announced its operating results for October 31, 2025, highlighting record highs in total and fee-based client assets, which increased by 12% and 18% year-over-year, respectively. The company also reported a 35% growth in treasury deposits, offsetting declines in client money market and insured product balances, with bank loans rising 1% since September, supported by increased residential, securities-based, and commercial lending.

The most recent analyst rating on (SF) stock is a Buy with a $135.00 price target. To see the full list of analyst forecasts on Stifel Financial stock, see the SF Stock Forecast page.