Stifel Financial Corporation · NYSE:SF
Stifel Financial — Q1 2025 Earnings Presentation
13 slides from Stifel Financial's earnings presentation, Apr 23, 2025
Slide 1: First Quarter 2025 Financial Results Presentation
First Quarter 2025 Financial Results Presentation April 23, 2025 Quarterly Earnings Report
Slide 2: First Quarter Snapshot
First Quarter Snapshot 1Q25 RESULTS millions, except per share and ratios NET REVENUE NET EARNINGS EPS 1Q25: GAAP & NON-GAAP $1,255 1Q25: GAAP $44 & NON-GAAP $54 1Q25: GAAP $0.39 & NON-GAAP $0.49 ANNUALIZED ROCE ANNUALIZED ROTCE* BOOK VALUE PER SHARE 1Q25:GAAP 3.5% & NON-GAAP 4.4% 1Q25:GAAP 5.0% & N
Slide 3: First Quarter Operating Results
First Quarter Operating Results Operating Results ex. Legal Impact of Legal Sequential Sequential millions 1Q25 Y/Y Change millions 1Q25 Y/Y Change Change Change Global Wealth Management $851 8% -2% Non-GAAP Pre-tax Income $76 Institutional 385 10% -20% Legal $180 Other 20 -6% -6% Adjusted Pre-tax I
Slide 4: Wealth Management: Continues to Drive Growth
Wealth Management: Continues to Drive Growth CONSISTENT GROWTH $4,000 $3,500 Net Revenue (millions) $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025* Brokerage Asset Management & Service Fees Net Interest Investment Banking & Other *2025 GWM Net Revenue ba
Slide 5: Variance to Consensus Estimates
Variance to Consensus Estimates First Quarter Results Variance to Consensus Estimates Commentary on Variance to Analyst Estimates (in Millions, except diluted EPS and share data) 1Q25 1Q25 Mean %Δ ■ Commissions & Principal Transactions: Revenues Operating* Analyst Commissions + Principal transaction
Slide 6: Global Wealth Management
Global Wealth Management GLOBAL WEALTH MANAGEMENT REVENUE HIGHLIGHTS millions 1Q25 Y/Y Change Sequential ■ Record First Quarter Net Revenue Change Transactional $186 3% -7% ■ Record Quarterly Asset Management Revenue Asset Management 410 11% 1% ■ Added 52 Financial Advisors, Including 9 Experienced
Slide 7: Strong Bank Fundamentals
Strong Bank Fundamentals CLIENT CASH LEVELS IMPACTED BY SEASONALITY CONSISTENT BANK NIM AS RATES DECLINE $1,308 $1,305 7.00% $1,097 $1,092 6.00% $771 $800 $651 5.00% millions $505 $497 $368 $258 4.00% 3.10% 3.19% 3.17% 3.24% 3.10% 3.00% 2.00% ($623) ($691) 1.00% ($742) ($920) 1Q24 2Q24 3Q24 4Q24 1Q2
Slide 8: Institutional Group
Institutional Group INSTITUTIONAL GROUP REVENUE HIGHLIGHTS Sequential millions 1Q25 Y/Y Change Change Advisory $137 15% -28% ■ Ranked #1 in Municipal Issuance in Number of Capital Raising $95 5% -14% Issues in 2025 with 13.2% Market Share Equity $49 22% 2% Fixed Income $46 -9% -26% ■ Strong Investme
Slide 9: Expenses
Expenses NON-GAAP EXPENSES & PRE-TAX INCOME Non-GAAP EXPENSE RATIOS 65% 40% 35% Non-compensation Ratio millions 1Q25 1Q24 Y/Y Change 63% Compensation Ratio 30% 61% Compensation $728 $674 8% 25% 59% 20% Non-compensation Expense, $431 $245 76% 15% Ex. IB Gross Up & Credit Loss Provision 57% 58.0% 58.0
Slide 10: Capital Utilization
Capital Utilization FIRM-WIDE ASSETS & CAPITAL RATIOS HIGHLIGHTS $45,000 22.0% ■ Repurchased 900,000 Shares in Open Market $39,896 $40,384 20.0% $40,000 $38,258 $37,809 $38,935 ■ Net Settled 1.1 million Shares tied to Equity-based 18.0% $35,000 17.8% 17.9% 18.2% 17.6% Compensation 16.0% millions 17.
Slide 11: Concluding Remarks
Concluding Remarks Quarterly Earnings Report
Slide 12: First Quarter 2025 Financial Results Presentation
First Quarter 2025 Financial Results Presentation April 23, 2025 Quarterly Earnings Report
Slide 13: Disclaimer
Disclaimer Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks, assumptions, and uncertainties, including statements relating to the market opportunity and futu