Stifel Financial Corp. has reported record-setting full-year results for 2025, with net revenues reaching $5.53 billion, up from $4.97 billion in the previous year. The company's net income available to common shareholders was $646.5 million, or $5.87 per diluted common share, down from $694.1 million, or $6.25 per diluted common share in 2024. On a non-GAAP basis, net income available to common shareholders was $744.3 million, or $6.76 per diluted common share in 2025, down from $755.9 million, or $6.81 per diluted common share in 2024.
In the fourth quarter of 2025, Stifel reported net revenues of $1.56 billion, up from $1.36 billion in the same period in 2024. Net income available to common shareholders was $255.0 million, or $2.31 per diluted common share, compared with $234.7 million, or $2.09 per diluted common share for the fourth quarter of 2024. Non-GAAP net income available to common shareholders was $290.0 million, or $2.63 per diluted common share for the fourth quarter of 2025.
The company's global wealth management division reported record net revenues of $933.2 million for the fourth quarter of 2025, up from $865.2 million during the same period in 2024. Pre-tax net income was $330.1 million, compared with $316.3 million in the fourth quarter of 2024. Client assets reached $551.9 billion, up 10% over the year-ago quarter, with fee-based client assets increasing by 16%.
In the institutional group, net revenues reached $609.7 million for the fourth quarter of 2025, up from $478.3 million in the same period in 2024. Pre-tax net income was $151.7 million, compared with $95.7 million in the fourth quarter of 2024. Investment banking revenues increased by 50% from the year-ago quarter.
Stifel's board of directors also approved an 11% increase in the common stock dividend starting in the first quarter of 2026 and declared a three-for-two stock split, effective February 26, 2026. The company's total assets increased by $1.4 billion, or 3%, over the year-ago quarter.
The company's financial performance reflects its robust growth in net revenues and investment banking revenues across its divisions, despite a decline in non-GAAP net income available to common shareholders compared to the previous year. The market has reacted to these announcements by moving the company's shares -0.39% to a price of $129.69. Check out the company's full 8-K submission here.
