Julius Baer Gruppe AG reported a CHF 905.1 million revenue in Q2 2025, with gross profit identical to revenue (gross margin effectively 100%), EBITDA of CHF 370.2 million, and operating income of CHF 221.65 million. Net income was CHF 147.65 million, yielding a net margin of 16.3% and an EPS of CHF 0.72 for the quarter. The company delivered an EBITDA margin of 40.9% and an operating margin of 24.49%, underscoring a high-velocity, fee-based earnings engine typical of a wealth-management franchise. YoY metrics show pronounced improvements: revenue up 49.6% year over year, operating income up 1,107.5% YoY, net income up 479.6% YoY, and EPS up 478.95%. QoQ results, however, reflect a deceleration: revenue down 5.5% and operating income down 62.3%, with net income and EPS down 48.2% QoQ. This dichotomy suggests a favorable annual base effect or mix changes driving the YoY uplift, while the quarter-to-quarter performance was softer, influenced by seasonality, platform mix, or one-off items in the prior period. Management’s profitability profile remains strong, supported by disciplined cost management in operating expenses and a high EBITDA contribution from fee-based activities. The lack of disclosed balance sheet and cash-flow data in the provided materials limits a full liquidity assessment; nevertheless, the quarter reinforces Julius Baer’s position as a high-margin wealth manager with a scalable platform and ongoing opportunities to grow assets under management (AUM) and cross-sell across geographies. Investors should monitor AUM momentum, net new money, platform utilization, and any updates to forward guidance as they become available.