Stifel Financial (NYSE:SF) reported record full-year results for 2025 on Wednesday, as a resurgence in capital markets and a massive influx of wealth management assets more than offset a heavy quarter for legal provisions.
The St. Louis-based firm posted annual net revenues of $5.53 billion, an 11% increase over 2024, driven by a blistering 50% jump in fourth-quarter investment banking revenue.
With client assets reaching a record $551.9 billion, the board moved to reward shareholders by authorizing a three-for-two stock split and an 11% increase in the quarterly common dividend to $0.51 per share.
The stock split, structured as a 50% stock dividend, will be distributed on Feb. 26, 2026, to shareholders of record as of Feb. 12.
Meanwhile, the firm's Global Wealth Management segment remained its reliable engine, contributing a record $933.2 million in quarterly revenue.
However, the Institutional Group stole the spotlight in the final months of the year; advisory revenues climbed 46% while equity capital raising nearly doubled compared to the prior-year period, as corporate clients rushed back to the public markets.
Profitability metrics also showed some divergence due to a "noisy" GAAP result.
While non-GAAP EPS reached $6.76 for the year, GAAP diluted EPS was $5.87, pulled down by elevated legal provisions that management signaled were largely tied to historical regulatory matters.
Despite these costs, the firm’s pre-tax pre-provision income grew 19% year-over-year, underscoring a robust fundamental performance.
Stifel enters 2026 with a significantly larger footprint, having successfully integrated several boutique acquisitions and expanded its advisor count.