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JEF

Jefferies Financial Group Inc.

JEF

Jefferies Financial Group Inc. • NYSE
$57.56 ▲ 0.58% (+0.33)
Market Cap $11.87 B
52w High $82.68
52w Low $39.28
Dividend Yield 1.60%
P/E 19.99
Volume 1.05M
Outstanding Shares 206.28M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.908B ▲ $1.511B ▲ $252.545M ▲ 8.685% ▲ $1.04 ▲ $385.045M ▼
Q2-2025 $2.494B ▲ $401.525M ▲ $99.063M ▼ 3.972% ▼ $0.41 ▼ $1.05B ▼
Q1-2025 $2.473B ▼ $363.265M ▼ $143.832M ▼ 5.816% ▼ $0.6 ▼ $1.064B ▼
Q4-2024 $2.851B ▲ $403.908M ▲ $232.163M ▲ 8.143% ▲ $0.96 ▲ $1.256B ▲
Q3-2024 $2.596B $359.807M $187.913M 7.24% $0.78 $1.213B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.458B ▲ $69.32B ▲ $58.818B ▲ $10.439B ▲
Q2-2025 $11.26B ▲ $67.285B ▼ $56.903B ▼ $10.305B ▲
Q1-2025 $11.176B ▼ $70.219B ▲ $59.95B ▲ $10.204B ▲
Q4-2024 $12.153B ▲ $64.36B ▲ $54.135B ▲ $10.157B ▲
Q3-2024 $10.573B $63.275B $53.159B $10.046B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.305M ▼ $1.025B ▲ $-1.016B ▼ $617.284M ▼ $258.385M ▲ $966.349M ▲
Q2-2025 $91.395M ▼ $-978.332M ▲ $-99.369M ▼ $859.108M ▼ $-149.063M ▲ $-1.022B ▲
Q1-2025 $136.849M ▼ $-2.665B ▼ $-57.775M ▲ $2.026B ▲ $-704.842M ▼ $-2.715B ▼
Q4-2024 $223.901M ▲ $1.71B ▲ $-106.526M ▼ $-281.17M ▼ $1.301B ▲ $1.64B ▲
Q3-2024 $181.039M $-648.66M $427.294M $126.759M $-74.193M $-684.457M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Asset Management
Asset Management
 $10.00M ▲$90.00M ▲$20.00M ▼$10.00M ▼
Commissions And Other Fees
Commissions And Other Fees
 $300.00M ▲$290.00M ▼$350.00M ▲$330.00M ▼
Interest Revenue
Interest Revenue
 $910.00M ▲$850.00M ▼$880.00M ▲$850.00M ▼
Investment Banking
Investment Banking
 $1.89Bn ▲$730.00M ▼$790.00M ▲$1.09Bn ▲
Other Sources Of Revenue Miscellaneous
Other Sources Of Revenue Miscellaneous
 $0 ▲$30.00M ▲$30.00M ▲$60.00M ▲
Principal Transactions Revenue
Principal Transactions Revenue
 $440.00M ▲$410.00M ▼$340.00M ▼$490.00M ▲
Product and Service Other
Product and Service Other
 $230.00M ▲$120.00M ▼$120.00M ▲$150.00M ▲
Real Estate
Real Estate
 $110.00M ▲$10.00M ▼$20.00M ▲$20.00M ▲
Oil and Gas
Oil and Gas
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Jefferies’ revenue has been quite cyclical, reflecting deal-making and trading conditions, but the most recent year shows a strong rebound in activity after a softer period. Operating profits have recovered as well, suggesting the core businesses are performing better. However, net income has been far more volatile than operating income, pointing to sizable swings from interest costs, taxes, or investment and mark‑to‑market items. Profitability was exceptionally strong a few years ago, then dipped, and is now in a rebuilding phase rather than back at peak levels. Overall, the franchise is clearly able to generate solid fees and trading income, but bottom‑line results remain sensitive to markets and non‑operating factors.

Balance Sheet

Balance Sheet The balance sheet has grown over time, with a larger asset base supporting a broader capital markets and trading platform. Cash and liquid resources are meaningful, which is important for a firm that operates heavily in markets and needs flexibility. Debt levels have risen in recent years, indicating greater leverage and a higher fixed‑cost burden from interest, even as shareholders’ equity has only inched up. This mix is typical for a capital markets firm but does mean results are more exposed to funding conditions and credit spreads. Capitalization looks stable, but the business model still relies on careful risk and balance‑sheet management.

Cash Flow

Cash Flow Cash generation has been choppy, with earlier years showing healthy cash inflows from operations, but the two most recent years turning negative despite reported profits. For a capital markets firm, this often reflects swings in trading positions, collateral, and receivables rather than simple operating weakness, but it still highlights how cash flows can diverge from accounting earnings. Free cash flow has followed the same pattern, given that investment in physical assets is modest. The picture is of a business where cash movements are inherently volatile and tied to market activity, so single‑year cash figures are less informative than the longer trend and risk controls.

Competitive Edge

Competitive Edge Jefferies competes in a crowded field against bulge‑bracket banks and elite independent advisors, but differentiates itself as a focused, “pure‑play” investment banking and capital markets franchise. Its strengths lie in high‑touch client service, deep sector expertise across many industries, and a strong presence with private equity and other financial sponsors. The strategic alliance with SMBC adds lending capacity, cross‑border reach, and credibility in leveraged finance, which helps it punch above its size. At the same time, the firm operates in a business with intense fee pressure, fierce competition for talent, and no universally acknowledged long‑term moat. Its edge depends heavily on relationships, execution quality, and maintaining its entrepreneurial culture.

Innovation and R&D

Innovation and R&D Jefferies is more of a fast adopter than an inventor of technology, using partnerships and modern infrastructure to support its core businesses. The shift to a cloud‑first architecture and work with providers like AWS and Palo Alto Networks aims to improve security, scalability, and agility. Collaboration with HCLTech on generative AI suggests a push to automate routine tasks, enhance surveillance and risk monitoring, and improve internal efficiency rather than creating headline‑grabbing products. The firm also runs sophisticated electronic and algorithmic trading platforms, along with proprietary risk and portfolio tools, which are important for client service and risk control. Future innovation appears focused on expanding electronic capabilities (such as FX and precious metals) and embedding AI more deeply into operations rather than on large, capital‑intensive R&D bets.

Summary

Jefferies looks like a cyclical but resilient capital markets platform: revenues and profits ebb and flow with deal and trading conditions, yet the underlying franchise can generate strong operating income in favorable markets. Recent results show a recovery in activity, though net income lags prior peaks and is affected by non‑operating items and higher leverage. The balance sheet is larger and somewhat more leveraged, with good liquidity but greater sensitivity to funding costs and market stress. Cash flows are volatile and not always aligned with earnings, which is typical for this type of business but still worth monitoring over time. Competitively, Jefferies leans on specialization, client relationships, and strategic partnerships rather than on an impregnable moat. Its ongoing investments in cloud, electronic trading, and AI‑enabled processes support that model and, if executed well, can help it stay relevant and efficient in a very demanding industry.

NEWS

November 30, 2025 · 6:11 AM UTC

JEF INVESTIGATION NOTICE: BFA Law is Investigating Jefferies Financial Group Inc. for Securities Fraud After SEC Probe into Point Bonita Disclosures

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November 29, 2025 · 7:18 AM UTC

JEF SEC PROBE: Jefferies Financial Group Inc. is Facing a Probe by the SEC Over its Point Bonita Disclosures – Contact BFA Law if You Lost Money on Your Investment

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November 28, 2025 · 8:18 AM UTC

JEF SEC NEWS: SEC Probe into Jefferies Financial Group Inc. Revealed Over Point Bonita Disclosures, Investors Notified to Contact BFA Law

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November 27, 2025 · 3:46 PM UTC

JEF BREAKING: SEC Probe into Jefferies Financial Group Inc. Revealed Over its Point Bonita Disclosures – Investors with Losses Alerted to Contact BFA Law

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November 27, 2025 · 11:30 AM UTC

JEF BREAKING NEWS: Jefferies Financial Group Inc. Faces SEC Probe Over Point Bonita Disclosures – Investors Urged to Contact BFA Law about its Investigation

Read more