Stifel Financial Corp.SF
NYSE•Financial Services•Capital Markets
Stifel Financial Corp. operates as the bank holding company for Stifel, Nicolaus & Company, Incorporated that provides retail and institutional wealth management, and investment banking services to individual, corporations, municipalities, and institutions in the United States, the United Kingdom, Canada, and internationally. 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; securities brokerage services, such as the sale of equities, mutual funds, fixed income products, and insurance; 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 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 Saint Louis, Missouri.
Stifel Financial Corporation (SF) reported trailing twelve months revenue of $6.54B as of March 2026, a 9.0% increase year-over-year. Quarterly revenue reached $1.67B, reflecting continued top-line momentum.
Stifel Financial Corporation generated $882.21M in TTM net income, with quarterly EBITDA of $341.38M. The operating margin expanded from 4.3% to 19.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (19.6%) and net margin (15.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 3.6% a year ago, signaling stronger bottom-line efficiency.
SF trades at a P/E of 12.7x (below the broader market average) and a P/S of 1.7x. The price-to-book ratio of 1.9x reflects a moderate premium to book value.
The company reported negative free cash flow of $-390.42M, indicating cash consumption over the period. The balance sheet shows $42.89B in total assets with $617.65M in long-term debt against $5.98B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~15.0%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.8% on average, adequate but below the threshold typically associated with wide moats.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~18.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.2% — no sign of cost or pricing stress.
FCF covers net income by 0.7x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.