Jefferies Financial Group Inc. (JEF) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.24	$1.02	-17.7%	—	—	—
Q4 26	$0.89	$0.7	-21.3%	—	—	—
Q3 26	$0.8	$0.96	+20.0%	—	—	—
Q2 26	$0.8	$1.01	+26.2%	—	—	—
Q1 26	$0.46	$0.4	-13.0%	—	—	—
Q4 25	$1.2	$0.57	-52.5%	—	—	—
Q3 25	$1.04	$1.07	+2.9%	—	—	—
Q2 25	$0.77	$0.87	+13.0%	—	—	—
Q1 25	$0.64	$0.73	+14.1%	—	—	—
Q4 24	$0.76	$0.75	-1.3%	—	—	—
Q3 24	$0.24	$0.3	+25.0%	—	—	—
Q2 24	$0.33	$0.22	-33.3%	—	—	—
Q1 24	$0.27	$0.28	+3.7%	—	—	—
Q4 23	$0.43	$0.54	+25.6%	—	—	—
Q3 23	$0.57	$0.57	0.0%	—	—	—
Q2 23	$0.73	$1.1	+50.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.93	—	—	$10.8B	—
FY24	—	$3.08	—	—	$10.5B	—
FY23	—	$1.12	—	—	$7.4B	—
FY22	—	$3.13	—	—	$7.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.8B	$5B	—	$5.4B	$7B	$8.9B	$7.1B	$7.4B	$10.5B	$10.8B
YoY change	-67.1%	+31.2%	—	—	+29.8%	+28.6%	-20.1%	+4.09%	+41.3%	+2.93%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.8B	5B	—	5.4B	7B	8.9B	7.1B	7.4B	10.5B	10.8B
Cost of revenue	2.3B	2.5B	—	2.5B	3.6B	4.3B	3.4B	2.9B	4.3B	4.5B
Gross profit	1.6B	2.5B	—	2.9B	3.3B	4.6B	3.8B	4.5B	6.2B	6.3B
Gross margin	40.5%	50.3%	—	54.2%	47.8%	51.6%	52.8%	60.6%	59.1%	58.1%
Research & development	—	—	—	—	—	109.8M	150.5M	177.5M	—	—
Selling, general & administrative	797.1M	778.1M	—	1B	1.1B	710.1M	793M	849.5M	961.5M	1B
Operating expenses	797.1M	778.1M	—	1B	1.1B	937.5M	1.1B	1.3B	1.3B	1.5B
Operating income	645.4M	1.7B	—	1.7B	2.1B	3.5B	2.6B	3.3B	4.7B	4.6B
Operating margin	16.8%	32.7%	—	32.5%	30%	39.4%	36.6%	44.5%	44.8%	42.8%
Non-operating income, net	154.6M	-74.9M	—	203M	-75.5M	-337.3M	-387.1M	-214.4M	-226.9M	-280.1M
Pretax income	-12.6M	606.5M	—	478.6M	1.1B	2.3B	1.1B	354.3M	1B	871M
Income tax	25.8M	642.3M	—	-484M	298.7M	576.7M	273.9M	91.9M	293.2M	184.6M
Net income	194.3M	252.8M	—	962.6M	768.4M	1.7B	781.7M	262.4M	716M	682M
Net margin	5.05%	5.01%	—	18%	11%	18.8%	10.9%	3.53%	6.81%	6.3%
EBITDA	917.2M	1.7B	—	2.1B	2.2B	3.3B	2.4B	3.2B	4.7B	4.6B
EPS	0.34	0.45	0.52	3.07	2.68	6.29	3.13	1.12	3.08	2.93
Diluted EPS	0.34	0.45	0.52	3.03	2.65	6.13	3.06	1.1	2.99	2.83

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2B	2B	2.6B	2.5B	2.6B	2.9B	2.5B	2.5B	2.9B	2.9B	2.9B	3.1B
Cost of revenue	736.9M	734M	1.1B	1B	1B	1.2B	992.1M	1B	1.2B	1.3B	1.2B	1.4B
Gross profit	1.3B	1.2B	1.5B	1.5B	1.6B	1.7B	1.5B	1.5B	1.7B	1.7B	1.6B	1.8B
Gross margin	63.9%	62.7%	58%	59.9%	60.4%	58.3%	59.9%	58.8%	57.4%	56.5%	56.5%	56.2%
Research & development	41.5M	—	57.7M	68.6M	68.2M	—	72.3M	80.1M	79M	—	75.4M	—
Selling, general & administrative	215.2M	219.6M	243.5M	240.1M	231.7M	246.2M	242.1M	254.7M	263.4M	278.2M	270.7M	296.1M
Operating expenses	271.5M	117.6M	319.6M	327.2M	313.8M	547.1M	332.3M	349.3M	441.7M	415.7M	452.9M	412M
Operating income	1B	911.3M	1.1B	1.1B	1.2B	1.3B	1.1B	1.1B	1.3B	1.2B	1.2B	1.3B
Operating margin	49.4%	46.3%	43.8%	44.9%	46.5%	44.1%	45.2%	42.7%	43.1%	40.5%	41.4%	41.4%
Non-operating income, net	-57.3M	-52.5M	-83.9M	-41.5M	-43.4M	-58.1M	-86.6M	-70.5M	-60.5M	-62.6M	-121.6M	-64.6M
Pretax income	91.1M	87.3M	220.2M	227.8M	252.7M	304.9M	151.1M	134.9M	331.8M	253.2M	212.2M	315.5M
Income tax	37.1M	16.8M	56M	73.1M	78M	86.1M	14.2M	43.5M	89.3M	37.5M	52.9M	65.6M
Net income	53.9M	70.4M	156.4M	154.7M	181M	223.9M	136.8M	91.4M	242.5M	211.3M	159.3M	250M
Net margin	2.64%	3.58%	6.13%	6.15%	6.97%	7.85%	5.53%	3.66%	8.34%	7.17%	5.55%	8.02%
EBITDA	975.3M	887.4M	1.1B	1.1B	1.2B	1.3B	1.1B	1.1B	1.2B	1.2B	1.1B	1.3B
EPS	0.22	0.3	0.68	0.66	0.78	—	0.6	0.41	1.04	0.89	0.72	1.11
Diluted EPS	0.22	0.29	0.66	0.64	0.75	—	0.57	0.4	1.01	0.85	0.7	1.11

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.7B	8.7B	—	6.2B	6.2B	9.5B	9B	8.2B	17.2B	12.4B	9.6B
Enterprise value	6.1B	6.5B	—	-451.3M	17B	10.1B	13B	15.8B	25.4B	22.1B	-12.9B
Shares outstanding	371.2M	368.2M	307.5M	310.7M	285.7M	263.6M	247.4M	232.6M	217.1M	215.1M	215.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	39.8	34.5	—	6.45	8.08	5.65	11.5	31.4	24	18.2	13.2
P/S	2.01	1.73	—	1.16	0.89	1.06	1.26	1.11	1.63	1.14	1.15
P/B	0.73	0.83	—	0.64	0.66	0.89	0.87	0.84	1.68	1.16	0.91
EV/EBITDA	6.7	3.84	—	-0.22	7.82	3.03	5.38	4.93	5.42	4.85	-2.83
EV/Sales	1.6	1.28	—	-0.08	2.44	1.13	1.82	2.12	2.41	2.04	-1.55
Earnings yield	2.52%	2.9%	—	15.5%	12.4%	17.7%	8.7%	3.18%	4.17%	5.51%	7.6%
FCF yield	4.09%	7.62%	—	-17.1%	30.6%	15%	17.6%	-23.5%	-2.68%	-13.8%	6.58%
PEG	—	—	—	—	—	—	—	—	—	—	0.08

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	40.5%	50.3%	—	54.2%	47.8%	51.6%	52.8%	60.6%	59.1%	58.1%	56.2%
Operating margin	16.8%	32.7%	—	32.5%	30%	39.4%	36.6%	44.5%	44.8%	42.8%	16.9%
Net margin	5.05%	5.01%	—	18%	11%	18.8%	10.9%	3.53%	6.81%	6.3%	10.8%
ROE	1.83%	2.39%	—	10%	8.12%	15.8%	7.59%	2.68%	7%	6.41%	8.27%
ROA	0.43%	0.54%	—	1.95%	1.45%	2.99%	1.53%	0.45%	1.11%	0.9%	1.18%
ROIC	7.12%	0%	—	58.6%	7.43%	23.3%	13.5%	14.1%	18.1%	17.9%	16.9%
Return on tangible assets	0.49%	0.6%	—	2.11%	1.56%	3.2%	1.64%	0.49%	1.19%	0.95%	1.13%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.15	1.22	—	0.98	0.92	2.57	3.32	2.81	3.38	2.43	1.94
Quick ratio	1.14	1.22	—	0.98	0.92	2.57	3.32	2.81	3.38	2.43	2.24
Debt / equity	1.65	1.88	—	1.86	2.1	1.08	1.33	1.64	1.99	2.23	3.65
Debt / assets	0.39	0.42	—	0.36	0.37	0.2	0.27	0.28	0.32	0.31	0.33
Net debt / EBITDA	-1.72	-1.33	—	-3.18	4.96	0.2	1.66	2.36	1.75	2.13	2.51
Interest coverage	0.98	1.62	—	1.33	2.13	3.42	1.9	1.13	1.29	1.25	1.32
Effective tax rate	0%	100%	—	0%	28%	25.6%	25.9%	25.9%	29.2%	21.2%	22%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.4	13.7	—	17.2	24.3	33.9	28.9	32	48.4	50.3	38.6
EPS (basic)	0.34	0.45	0.52	3.07	2.68	6.29	3.13	1.12	3.08	2.93	2.93
EPS (diluted)	0.34	0.45	0.52	3.03	2.65	6.13	3.06	1.1	2.99	2.83	3.58
Book value per share	28.7	28.7	—	31	33.1	40.2	41.6	42.1	47.1	49.5	52
FCF per share	0.85	1.81	—	-3.41	6.65	5.37	6.39	-8.32	-2.12	-7.94	8.75
Cash per share	51.4	60	—	79.1	31.7	40.8	39.2	36.7	56	65.3	271.6
Capex per share	0.57	0.26	—	0.75	0.62	0.63	0.91	0	1.15	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.46%	1.88%	—	4.33%	2.54%	1.85%	3.14%	0.02%	2.38%	—	—
Capex / operating cash flow	-2.1K%	40.2%	—	-29.6%	9.6%	16%	8.39%	-0.06%	-24.3%	—	—
Payout ratio	47%	46.4%	—	15.5%	20.9%	13.3%	35.8%	106.2%	42.3%	54.9%	44.7%
Dividend yield	1.18%	1.34%	—	2.41%	2.59%	2.35%	3.12%	3.38%	1.76%	3.02%	3.39%

Yield

3.39%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.40

ex-dividend Aug 18, 2026

Payout ratio

45%

of earnings

Dividend growth

5 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 18, 2026	$0.40
May 18, 2026	$0.40
Feb 17, 2026	$0.40

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2B	$2B	$2.6B	$2.5B	$2.6B	$2.9B	$2.5B	$2.5B	$2.9B	$2.9B	$2.9B	$3.1B
YoY change	+11.4%	+12.4%	+43.3%	+52.4%	+27.2%	+44.8%	-3.1%	-0.87%	+12%	+3.42%	+16.1%	+25%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	22.1B	19.1B	22.1B	24.6B	9.1B	10.8B	9.7B	8.5B	12.2B	14B
Receivables	3.8B	4.4B	5.4B	5.7B	6.6B	4.7B	3.6B	4.7B	5.8B	8.6B
Inventory	288.1M	309.9M	—	—	—	—	—	—	—	—
Total current assets	28.8B	26.6B	30.1B	15.9B	18B	30.7B	30.9B	34.9B	39.6B	43.3B
Property, plant & equipment	721.9M	709.2M	750.4M	—	—	—	—	—	—	—
Goodwill & intangibles	5.3B	5B	4.9B	3.8B	3.8B	3.6B	3.5B	4.1B	4.1B	4.1B
Total assets	46.3B	45.1B	47.2B	49.5B	53.1B	56.1B	51.1B	57.9B	64.4B	76B
Accounts payable	7.1B	7.4B	7.2B	8.2B	10.4B	8.4B	6.2B	7.7B	7.8B	12.2B
Short-term debt	10.3B	7.3B	9.1B	8.1B	9.1B	221.9M	528.4M	989.7M	443.2M	1.8B
Total current liabilities	24.2B	23.1B	24.7B	16.2B	19.5B	12B	9.3B	12.4B	11.7B	17.8B
Long-term debt	10.4B	10.2B	10.7B	9.9B	10.7B	11.2B	13.2B	15.1B	19.9B	22B
Total liabilities	35.7B	34.4B	36.6B	39.8B	43.7B	45.5B	40.8B	48.1B	54.1B	65.4B
Shareholders' equity	10.7B	10.6B	10.6B	9.6B	9.5B	10.6B	10.3B	9.8B	10.2B	10.6B
Total debt	20.7B	17.5B	19.8B	17.9B	19.8B	11.4B	13.7B	16.1B	20.4B	23.8B
Net debt	17.1B	13.7B	14.6B	10.2B	10.8B	666.5M	4B	7.6B	8.2B	9.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	8.8B	8.5B	7.6B	10.8B	10.6B	12.2B	11.2B	11.3B	11.5B	14B	12B	14.3B
Receivables	3.9B	4.7B	5.5B	6.1B	5.3B	5.8B	8.5B	6.2B	6.6B	8.6B	8.5B	8.3B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	33B	34.9B	34.9B	39.5B	36.9B	39.6B	42.9B	39B	39.4B	43.3B	43.2B	42B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	3.5B	4.1B	3.6B	3.6B	3.7B	4.1B	4.1B	4.1B	3.7B	4.1B	3.5B	3.5B
Total assets	56B	57.9B	60.9B	63B	63.3B	64.4B	70.2B	67.3B	69.3B	76B	74.4B	79.5B
Accounts payable	7.2B	7.7B	8.1B	8.2B	8.3B	7.8B	8.3B	8.1B	8.1B	12.2B	11B	13.5B
Short-term debt	924.9M	989.7M	1.3B	1.6B	1.7B	443.2M	1.2B	1.3B	1.2B	1.8B	1.9B	1.6B
Total current liabilities	10.2B	12.4B	12.7B	12.9B	13.1B	11.7B	11.8B	12.2B	12.5B	17.8B	15.7B	18.7B
Long-term debt	14.6B	15.1B	16.9B	18.6B	19.7B	19.9B	22.4B	21.6B	22.5B	22B	24B	24.9B
Total liabilities	46.3B	48.1B	51.1B	53B	53.2B	54.1B	60B	56.9B	58.8B	65.4B	63.7B	68.9B
Shareholders' equity	9.8B	9.8B	9.9B	10B	10.1B	10.2B	10.3B	10.4B	10.5B	10.6B	10.7B	10.6B
Total debt	15.5B	16.1B	18.1B	20.2B	21.5B	20.4B	23.6B	22.9B	23.7B	23.8B	25.9B	26.5B
Net debt	6.7B	7.6B	10.5B	9.3B	10.9B	8.2B	12.4B	11.7B	12.2B	9.7B	13.9B	12.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	244.3M	194.3M	252.8M	962.6M	768.4M	1.7B	781.7M	262.4M	716M	682M
Depreciation & amortization	172.1M	71.6M	64.8M	129.8M	142.4M	144.3M	189.3M	113.5M	197.8M	201.9M
Stock-based compensation	74.1M	33.6M	48.4M	49.8M	40M	78.2M	43.9M	45.4M	63.1M	88.2M
Change in working capital	-1.3B	-37.1M	-408.9M	-1.4B	570.6M	-870.3M	2.3B	-2.3B	-2.3B	-3.4B
Operating cash flow	-786.4M	-9.9M	236M	-784.1M	1.8B	1B	2.7B	-1.9B	-1B	-1.5B
Capital expenditure	-273.1M	-210M	-95M	-232.2M	-177M	-165.6M	-224.3M	-1.2M	-250.6M	—
Investing cash flow	-613.9M	-1.3B	-3.1B	1.6B	-1.7B	-2.7B	-347.1M	-129M	-726.4M	-926.2M
Dividends paid	-92.5M	-91.3M	-117.4M	-149.6M	-160.9M	-222.8M	-280.1M	-278.6M	-303M	-374.1M
Share repurchases	-125.8M	-95M	-100.5M	-509.9M	-816.9M	-269.4M	-859.6M	-169.4M	-44.3M	-58.5M
Financing cash flow	-652M	401.7M	597.1M	1.6B	-723.5M	-561.8M	-6.2B	-4B	-3.2B	-5.4B
Net change in cash	-2.1B	-901.2M	-2.3B	2.4B	-623.8M	-2.2B	-3.9B	-6B	-5B	-7.9B
Free cash flow	-1.1B	315.7M	665.3M	-1.1B	1.9B	1.4B	1.6B	-1.9B	-459.8M	-1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	53.9M	70.4M	156.4M	154.7M	181M	223.9M	136.8M	91.4M	242.5M	211.3M	159.3M	250M
Depreciation & amortization	25.4M	28.6M	44.2M	49.5M	47.9M	56.3M	33M	55.5M	56M	57.5M	41.3M	41M
Stock-based compensation	11.3M	9.9M	20.2M	14.4M	13.4M	15.2M	35.6M	18.2M	14M	20.4M	50.7M	22.9M
Change in working capital	-694.1M	-176.4M	-1.2B	-792.7M	-1.1B	885.6M	-1.6B	-1.8B	-735.1M	759M	-1B	526.8M
Operating cash flow	-724M	-108.3M	-918.5M	-501.7M	-845M	1.2B	-1.5B	-1.4B	184.2M	2B	-1.7B	1.6B
Capital expenditure	-30M	79.1M	-96.2M	-48.6M	-35.8M	-69.9M	-49.6M	-43.7M	—	—	—	—
Investing cash flow	-197.1M	399.5M	-150.3M	-63.4M	371.3M	38.6M	-71.5M	-132.8M	-355.3M	-486.7M	-64.8M	-145.8M
Dividends paid	-69.9M	-70M	-69.9M	-69.9M	-81.6M	-81.6M	-92.7M	-94.3M	-93.5M	-93.5M	-92.8M	-91.8M
Share repurchases	-280K	-4.1M	-43M	-946K	-332K	-1K	-56.3M	-1.3M	-918K	-29K	-174.3M	-197.4M
Financing cash flow	-1.1B	-486.8M	-261.4M	2.3B	-1.3B	-4B	-635.8M	-354.7M	-2.3B	-2.1B	-1.3B	-2.3B
Net change in cash	-2B	-195.7M	-1.3B	1.7B	-1.8B	-2.7B	-2.2B	-1.9B	-2.5B	-647.1M	-3.1B	-804.6M
Free cash flow	-518.3M	35.4M	-1.4B	-15.9M	-684.5M	1.6B	-2.7B	-1B	126M	1.9B	-1.8B	1.6B

Date	Ratio
Jan 17, 2023	1046:1000
Sep 27, 2019	1068:1000
Feb 26, 2013	1027:1000
Jun 15, 2006	2:1
Jan 3, 2005	3:2
Nov 16, 1995	2:1
Jan 11, 1993	2:1
Jan 7, 1987	2:1
Feb 15, 1985	3:2
Apr 7, 1983	2:1

Jefferies Financial Group Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history