European Investor
28 Jan 2026, 16:52
Stifel Financial Corp. reported record full-year results for 2025, alongside an increased dividend and a stock split, reflecting strong momentum across its core businesses.
For the fourth quarter, Stifel posted net revenues of $1.56 billion, up from $1.36 billion a year earlier, driven mainly by higher investment banking and asset management revenues. Net income available to common shareholders rose to $255.0 million, or $2.31 per diluted share, compared with $2.09 a year ago. On a non-GAAP basis, diluted EPS increased to $2.63.
For the full year 2025, net revenues reached a record $5.53 billion, up from $4.97 billion in 2024. GAAP net income available to common shareholders was $646.5 million, or $5.87 per diluted share, while non-GAAP diluted EPS totaled $6.76. Performance was supported by a 26% increase in investment banking revenue, record asset management revenues up 11%, and record quarter-end client assets of $551.9 billion, up 10% year over year.
The firm also reported strong profitability metrics, including a non-GAAP pre-tax margin of 17.9% for the full year and a return on average tangible common equity of 21.0%, despite elevated legal provisions that weighed on results.
Stifel’s board approved an 11% increase in the common stock dividend beginning in the first quarter of 2026 and declared a three-for-two stock split, effective February 26, 2026. Management described 2025 as a record year for the company and expressed confidence in its ability to navigate market uncertainty while continuing to deliver for clients and shareholders.
For the fourth quarter, Stifel posted net revenues of $1.56 billion, up from $1.36 billion a year earlier, driven mainly by higher investment banking and asset management revenues. Net income available to common shareholders rose to $255.0 million, or $2.31 per diluted share, compared with $2.09 a year ago. On a non-GAAP basis, diluted EPS increased to $2.63.
For the full year 2025, net revenues reached a record $5.53 billion, up from $4.97 billion in 2024. GAAP net income available to common shareholders was $646.5 million, or $5.87 per diluted share, while non-GAAP diluted EPS totaled $6.76. Performance was supported by a 26% increase in investment banking revenue, record asset management revenues up 11%, and record quarter-end client assets of $551.9 billion, up 10% year over year.
The firm also reported strong profitability metrics, including a non-GAAP pre-tax margin of 17.9% for the full year and a return on average tangible common equity of 21.0%, despite elevated legal provisions that weighed on results.
Stifel’s board approved an 11% increase in the common stock dividend beginning in the first quarter of 2026 and declared a three-for-two stock split, effective February 26, 2026. Management described 2025 as a record year for the company and expressed confidence in its ability to navigate market uncertainty while continuing to deliver for clients and shareholders.
