Annual Income Statements for Jefferies Financial Group
This table shows Jefferies Financial Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Jefferies Financial Group
This table shows Jefferies Financial Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
| Metric |
|
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
69 |
150 |
146 |
167 |
207 |
128 |
88 |
224 |
191 |
156 |
226 |
| Consolidated Net Income / (Loss) |
|
70 |
156 |
155 |
181 |
224 |
137 |
91 |
243 |
211 |
159 |
250 |
| Net Income / (Loss) Continuing Operations |
|
70 |
164 |
155 |
175 |
219 |
137 |
91 |
243 |
216 |
159 |
250 |
| Total Pre-Tax Income |
|
87 |
220 |
228 |
253 |
305 |
151 |
135 |
332 |
253 |
212 |
316 |
| Total Revenue |
|
1,197 |
1,738 |
1,656 |
1,684 |
1,957 |
1,593 |
1,634 |
2,047 |
2,069 |
2,017 |
2,206 |
| Net Interest Income / (Expense) |
|
497 |
0.00 |
0.00 |
0.00 |
1,674 |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
| Total Interest Income |
|
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
| Total Interest Expense |
|
-497 |
0.00 |
0.00 |
0.00 |
-1,674 |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
| Total Non-Interest Income |
|
700 |
1,738 |
1,656 |
1,684 |
283 |
1,593 |
1,634 |
2,047 |
2,069 |
2,017 |
2,206 |
| Other Non-Interest Income |
|
700 |
1,738 |
1,656 |
1,684 |
283 |
1,593 |
1,634 |
2,047 |
2,069 |
2,017 |
2,206 |
| Total Non-Interest Expense |
|
1,110 |
1,518 |
1,429 |
1,431 |
1,652 |
1,442 |
1,500 |
1,716 |
1,816 |
1,805 |
1,891 |
| Salaries and Employee Benefits |
|
612 |
927 |
862 |
889 |
982 |
841 |
855 |
1,084 |
1,081 |
1,086 |
1,188 |
| Net Occupancy & Equipment Expense |
|
149 |
166 |
165 |
167 |
168 |
170 |
177 |
190 |
188 |
194 |
197 |
| Marketing Expense |
|
56 |
58 |
69 |
68 |
89 |
72 |
80 |
79 |
104 |
75 |
89 |
| Other Operating Expenses |
|
265 |
325 |
284 |
261 |
362 |
328 |
335 |
310 |
387 |
393 |
369 |
| Depreciation Expense |
|
28 |
43 |
50 |
46 |
51 |
31 |
52 |
53 |
56 |
57 |
47 |
| Income Tax Expense |
|
17 |
56 |
73 |
78 |
86 |
14 |
44 |
89 |
38 |
53 |
66 |
| Preferred Stock Dividends Declared |
|
6.30 |
14 |
14 |
21 |
25 |
16 |
11 |
29 |
24 |
20 |
29 |
| Basic Earnings per Share |
|
$0.29 |
$0.68 |
$0.66 |
$0.78 |
$0.96 |
$0.60 |
$0.41 |
$1.04 |
$0.88 |
$0.72 |
$2.76 |
| Weighted Average Basic Shares Outstanding |
|
232.61M |
220.05M |
219.97M |
214.45M |
217.08M |
214.54M |
215.10M |
215.29M |
215.10M |
215.71M |
213.79M |
| Diluted Earnings per Share |
|
$0.29 |
$0.66 |
$0.64 |
$0.75 |
$0.94 |
$0.57 |
$0.40 |
$1.01 |
$0.85 |
$0.70 |
$2.15 |
| Weighted Average Diluted Shares Outstanding |
|
236.62M |
225.29M |
226.15M |
221.70M |
223.65M |
222.45M |
221.90M |
222.72M |
222.75M |
223.27M |
247.83M |
| Weighted Average Basic & Diluted Shares Outstanding |
|
211.94M |
212.04M |
205.49M |
205.50M |
206.09M |
206.26M |
206.28M |
206.28M |
206.69M |
204.43M |
230.55M |
| Cash Dividends to Common per Share |
|
$0.30 |
$0.30 |
$0.30 |
$0.35 |
$0.35 |
$0.40 |
$0.40 |
$0.40 |
- |
$0.40 |
$0.40 |
Annual Cash Flow Statements for Jefferies Financial Group
This table details how cash moves in and out of Jefferies Financial Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
| Metric |
|
2014 |
2015 |
2016 |
2017 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Net Change in Cash & Equivalents |
|
369 |
-638 |
134 |
1,177 |
2,468 |
1,185 |
2,163 |
-1,121 |
-831 |
3,348 |
1,796 |
| Net Cash From Operating Activities |
|
-987 |
-762 |
572 |
788 |
-828 |
2,055 |
1,582 |
1,805 |
-1,934 |
-209 |
-1,500 |
| Net Cash From Continuing Operating Activities |
|
-987 |
-762 |
88 |
234 |
-828 |
2,055 |
1,582 |
1,805 |
-1,934 |
-140 |
-1,495 |
| Net Income / (Loss) Continuing Operations |
|
199 |
252 |
194 |
253 |
963 |
768 |
1,677 |
782 |
262 |
716 |
682 |
| Consolidated Net Income / (Loss) |
|
199 |
252 |
194 |
253 |
963 |
768 |
1,677 |
782 |
262 |
716 |
682 |
| Provision For Loan Losses |
|
70 |
20 |
24 |
36 |
30 |
48 |
56 |
47 |
67 |
52 |
24 |
| Depreciation Expense |
|
140 |
172 |
72 |
-28 |
130 |
136 |
144 |
189 |
113 |
198 |
202 |
| Non-Cash Adjustments to Reconcile Net Income |
|
110 |
-21 |
136 |
773 |
-562 |
500 |
-64 |
-911 |
148 |
178 |
608 |
| Changes in Operating Assets and Liabilities, net |
|
-1,506 |
-1,185 |
-339 |
-800 |
-1,388 |
602 |
-231 |
1,697 |
-2,525 |
-1,285 |
-3,011 |
| Net Cash From Discontinued Operating Activities |
|
- |
- |
485 |
554 |
- |
- |
- |
0.00 |
0.00 |
-69 |
-4.37 |
| Net Cash From Investing Activities |
|
449 |
781 |
-636 |
-55 |
1,707 |
-166 |
-410 |
-61 |
-12 |
210 |
-299 |
| Net Cash From Continuing Investing Activities |
|
449 |
781 |
-590 |
13 |
1,707 |
-166 |
-410 |
-61 |
-12 |
210 |
-299 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-601 |
-296 |
-257 |
-123 |
-232 |
-177 |
-166 |
-224 |
-1.16 |
-251 |
-207 |
| Purchase of Investment Securities |
|
-4,851 |
-2,789 |
-1,855 |
-4,502 |
-838 |
-810 |
-611 |
-519 |
-442 |
-90 |
0.00 |
| Divestitures |
|
- |
- |
- |
- |
- |
- |
0.00 |
333 |
215 |
0.00 |
27 |
| Sale and/or Maturity of Investments |
|
3,321 |
2,470 |
772 |
1,524 |
2,667 |
2,487 |
2,707 |
725 |
467 |
1,631 |
835 |
| Other Investing Activities, net |
|
2,548 |
1,373 |
703 |
3,085 |
111 |
-1,666 |
-2,339 |
-375 |
-252 |
-1,080 |
-953 |
| Net Cash From Financing Activities |
|
918 |
-652 |
231 |
435 |
1,590 |
-724 |
994 |
-2,843 |
1,060 |
3,349 |
3,592 |
| Net Cash From Continuing Financing Activities |
|
918 |
-652 |
448 |
603 |
1,590 |
-724 |
994 |
-2,843 |
1,060 |
3,520 |
3,592 |
| Issuance of Debt |
|
1,003 |
662 |
1,225 |
1,644 |
3,302 |
3,137 |
3,493 |
4,858 |
7,623 |
12,171 |
16,403 |
| Issuance of Preferred Equity |
|
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
32 |
9.84 |
0.00 |
| Repayment of Debt |
|
-434 |
-1,316 |
-845 |
-854 |
-2,589 |
-2,901 |
-1,997 |
-4,177 |
-6,241 |
-9,195 |
-13,099 |
| Repurchase of Common Equity |
|
-76 |
-126 |
-95 |
-100 |
-510 |
-817 |
-269 |
-860 |
-169 |
-44 |
-59 |
| Payment of Dividends |
|
-93 |
-93 |
-91 |
-117 |
-150 |
-161 |
-223 |
-280 |
-279 |
-303 |
-374 |
| Other Financing Activities, Net |
|
516 |
219 |
254 |
29 |
1,536 |
19 |
-10 |
-2,384 |
95 |
881 |
720 |
| Net Cash From Discontinued Financing Activities |
|
- |
- |
-217 |
-168 |
- |
- |
- |
0.00 |
0.00 |
-171 |
0.00 |
| Effect of Exchange Rate Changes |
|
-11 |
-5.55 |
-27 |
12 |
-1.06 |
18 |
-3.39 |
-22 |
55 |
-2.25 |
2.37 |
| Cash Interest Paid |
|
1,038 |
- |
- |
- |
- |
1,080 |
936 |
1,164 |
2,348 |
3,441 |
3,478 |
| Cash Income Taxes Paid |
|
9.88 |
- |
- |
- |
- |
0.03 |
727 |
214 |
159 |
258 |
292 |
Quarterly Cash Flow Statements for Jefferies Financial Group
This table details how cash moves in and out of Jefferies Financial Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
| Metric |
|
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
| Net Change in Cash & Equivalents |
|
298 |
-1,132 |
3,254 |
-74 |
1,301 |
-705 |
-149 |
258 |
2,391 |
-1,240 |
1,760 |
| Net Cash From Operating Activities |
|
-44 |
-1,303 |
33 |
-649 |
1,710 |
-2,665 |
-978 |
184 |
1,960 |
-1,737 |
1,599 |
| Net Cash From Continuing Operating Activities |
|
-44 |
-1,258 |
78 |
-670 |
1,710 |
-2,665 |
-978 |
184 |
1,964 |
-1,737 |
1,599 |
| Net Income / (Loss) Continuing Operations |
|
70 |
156 |
155 |
181 |
224 |
137 |
91 |
243 |
211 |
159 |
250 |
| Consolidated Net Income / (Loss) |
|
70 |
156 |
155 |
181 |
224 |
137 |
91 |
243 |
211 |
159 |
250 |
| Provision For Loan Losses |
|
22 |
40 |
6.88 |
1.71 |
4.15 |
7.49 |
5.97 |
3.47 |
7.50 |
14 |
9.95 |
| Depreciation Expense |
|
29 |
44 |
50 |
48 |
56 |
33 |
55 |
56 |
57 |
41 |
41 |
| Non-Cash Adjustments to Reconcile Net Income |
|
-58 |
88 |
2.11 |
47 |
42 |
-16 |
223 |
237 |
148 |
210 |
-46 |
| Changes in Operating Assets and Liabilities, net |
|
-106 |
-1,586 |
-136 |
-948 |
1,383 |
-2,827 |
-1,354 |
-355 |
1,540 |
-2,163 |
1,344 |
| Net Cash From Investing Activities |
|
244 |
-145 |
35 |
427 |
-107 |
-58 |
-99 |
-55 |
-87 |
-129 |
-83 |
| Net Cash From Continuing Investing Activities |
|
244 |
-145 |
35 |
427 |
-107 |
-58 |
-99 |
-55 |
-87 |
-129 |
-83 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
79 |
-96 |
-49 |
-36 |
-70 |
-50 |
-44 |
-58 |
-56 |
-65 |
-48 |
| Sale and/or Maturity of Investments |
|
180 |
88 |
2.96 |
-6.54 |
935 |
14 |
33 |
332 |
456 |
0.43 |
111 |
| Other Investing Activities, net |
|
-121 |
-48 |
-15 |
-46 |
-972 |
-22 |
-89 |
-355 |
-487 |
-65 |
-146 |
| Net Cash From Financing Activities |
|
42 |
318 |
3,186 |
127 |
-281 |
2,026 |
859 |
173 |
534 |
627 |
248 |
| Net Cash From Continuing Financing Activities |
|
42 |
321 |
3,178 |
302 |
-281 |
2,026 |
859 |
173 |
534 |
627 |
248 |
| Issuance of Debt |
|
1,198 |
1,317 |
4,434 |
2,833 |
3,698 |
4,791 |
2,353 |
3,643 |
5,380 |
4,652 |
3,789 |
| Repayment of Debt |
|
-888 |
-887 |
-1,304 |
-2,652 |
-4,339 |
-2,615 |
-1,986 |
-3,308 |
-4,955 |
-3,764 |
-3,254 |
| Repurchase of Common Equity |
|
-4.13 |
-43 |
-0.95 |
-0.33 |
-0.00 |
-56 |
-1.25 |
-0.92 |
-0.03 |
-174 |
-197 |
| Payment of Dividends |
|
-70 |
-70 |
-70 |
-82 |
-82 |
-93 |
-94 |
-94 |
-94 |
-93 |
-92 |
| Other Financing Activities, Net |
|
-193 |
2.89 |
119 |
193 |
442 |
-0.78 |
587 |
-68 |
202 |
6.56 |
2.70 |
| Effect of Exchange Rate Changes |
|
55 |
-1.68 |
0.17 |
20 |
-21 |
-8.06 |
70 |
-44 |
-15 |
-0.15 |
-4.68 |
| Cash Interest Paid |
|
682 |
839 |
740 |
956 |
905 |
846 |
870 |
872 |
890 |
831 |
863 |
| Cash Income Taxes Paid |
|
8.04 |
26 |
63 |
79 |
90 |
9.09 |
44 |
182 |
56 |
38 |
143 |
Annual Balance Sheets for Jefferies Financial Group
This table presents Jefferies Financial Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Total Assets |
|
46,331 |
45,071 |
47,169 |
47,131 |
49,460 |
53,118 |
56,107 |
51,058 |
57,905 |
64,360 |
76,012 |
| Cash and Due from Banks |
|
3,639 |
3,808 |
5,275 |
5,259 |
7,679 |
9,055 |
10,755 |
9,703 |
8,526 |
12,153 |
14,044 |
| Restricted Cash |
|
751 |
857 |
578 |
708 |
797 |
604 |
1,015 |
957 |
1,415 |
1,133 |
918 |
| Trading Account Securities |
|
29,330 |
26,892 |
28,211 |
28,197 |
28,829 |
30,164 |
32,084 |
29,144 |
34,899 |
37,717 |
44,668 |
| Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Customer and Other Receivables |
|
- |
- |
- |
- |
- |
- |
1,616 |
1,225 |
1,705 |
2,495 |
3,440 |
| Premises and Equipment, Net |
|
722 |
709 |
- |
- |
385 |
- |
911 |
907 |
1,066 |
1,195 |
1,246 |
| Goodwill |
|
- |
- |
- |
- |
- |
- |
1,745 |
1,736 |
1,848 |
1,828 |
1,838 |
| Other Assets |
|
9,241 |
10,291 |
10,642 |
11,077 |
9,847 |
3,876 |
7,981 |
7,385 |
8,446 |
7,840 |
9,859 |
| Total Liabilities & Shareholders' Equity |
|
46,331 |
45,071 |
47,169 |
47,131 |
49,460 |
53,118 |
56,107 |
51,058 |
57,905 |
64,360 |
76,012 |
| Total Liabilities |
|
35,865 |
34,768 |
36,479 |
36,907 |
39,707 |
42,306 |
45,377 |
40,631 |
48,103 |
54,135 |
65,370 |
| Short-Term Debt |
|
17,385 |
14,691 |
16,264 |
16,438 |
16,232 |
18,704 |
17,082 |
14,188 |
19,609 |
20,541 |
26,096 |
| Long-Term Debt |
|
11,324 |
11,226 |
11,759 |
10,991 |
12,933 |
13,451 |
15,139 |
12,178 |
12,969 |
18,254 |
21,323 |
| Other Long-Term Liabilities |
|
7,157 |
8,850 |
8,580 |
9,479 |
10,667 |
10,150 |
13,157 |
14,264 |
15,524 |
15,339 |
17,951 |
| Redeemable Noncontrolling Interest |
|
- |
- |
427 |
145 |
27 |
- |
150 |
131 |
0.41 |
0.41 |
0.41 |
| Total Equity & Noncontrolling Interests |
|
10,466 |
10,304 |
10,139 |
10,079 |
9,602 |
9,439 |
10,580 |
10,295 |
9,802 |
10,225 |
10,642 |
| Total Preferred & Common Equity |
|
10,401 |
10,128 |
10,106 |
10,061 |
9,580 |
9,404 |
10,554 |
10,233 |
9,710 |
10,157 |
10,575 |
| Preferred Stock |
|
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.04 |
0.06 |
0.06 |
| Total Common Equity |
|
10,401 |
10,128 |
10,106 |
10,061 |
9,580 |
9,404 |
10,554 |
10,233 |
9,710 |
10,157 |
10,575 |
| Common Stock |
|
5,349 |
5,172 |
5,032 |
4,162 |
3,919 |
3,161 |
2,986 |
2,194 |
2,255 |
2,310 |
2,384 |
| Retained Earnings |
|
4,613 |
4,645 |
4,701 |
5,610 |
5,933 |
6,532 |
7,940 |
8,418 |
7,850 |
8,270 |
8,575 |
| Accumulated Other Comprehensive Income / (Loss) |
|
439 |
311 |
373 |
288 |
-273 |
-289 |
-372 |
-379 |
-396 |
-423 |
-384 |
| Noncontrolling Interest |
|
65 |
176 |
33 |
18 |
22 |
35 |
26 |
63 |
92 |
68 |
68 |
Quarterly Balance Sheets for Jefferies Financial Group
This table presents Jefferies Financial Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q1 2026 |
Q2 2026 |
| Total Assets |
|
52,033 |
53,740 |
56,045 |
60,933 |
63,001 |
63,275 |
70,219 |
67,285 |
69,320 |
74,380 |
79,540 |
| Cash and Due from Banks |
|
7,509 |
8,005 |
8,817 |
7,616 |
10,842 |
10,573 |
11,176 |
11,260 |
11,458 |
11,963 |
14,315 |
| Restricted Cash |
|
1,015 |
1,068 |
872 |
1,195 |
1,097 |
1,360 |
1,666 |
1,051 |
1,112 |
1,753 |
1,136 |
| Trading Account Securities |
|
32,150 |
33,609 |
34,836 |
37,658 |
36,779 |
38,361 |
42,902 |
40,951 |
42,264 |
43,933 |
47,486 |
| Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Customer and Other Receivables |
|
1,453 |
1,184 |
1,547 |
1,860 |
2,298 |
2,060 |
2,462 |
2,653 |
3,028 |
3,984 |
4,188 |
| Premises and Equipment, Net |
|
904 |
907 |
930 |
1,103 |
1,206 |
1,229 |
1,217 |
1,235 |
1,255 |
1,199 |
1,191 |
| Goodwill |
|
1,736 |
1,738 |
1,739 |
1,824 |
1,823 |
1,833 |
1,825 |
1,842 |
1,840 |
1,726 |
1,725 |
| Other Assets |
|
7,266 |
7,228 |
7,302 |
9,676 |
8,954 |
7,858 |
8,971 |
8,292 |
8,362 |
9,823 |
9,499 |
| Total Liabilities & Shareholders' Equity |
|
52,033 |
53,740 |
56,045 |
60,933 |
63,001 |
63,275 |
70,219 |
67,285 |
69,320 |
74,380 |
79,540 |
| Total Liabilities |
|
42,220 |
43,974 |
46,279 |
51,065 |
53,048 |
53,159 |
59,950 |
56,903 |
58,818 |
63,718 |
68,932 |
| Short-Term Debt |
|
16,620 |
17,912 |
18,569 |
21,001 |
20,841 |
19,649 |
23,181 |
21,549 |
21,450 |
23,295 |
26,430 |
| Long-Term Debt |
|
12,208 |
11,793 |
13,200 |
14,056 |
16,457 |
17,211 |
19,567 |
20,135 |
21,195 |
22,206 |
23,456 |
| Other Long-Term Liabilities |
|
13,392 |
14,270 |
14,510 |
16,008 |
15,750 |
16,299 |
17,202 |
15,218 |
16,173 |
18,218 |
19,046 |
| Redeemable Noncontrolling Interest |
|
1.80 |
0.41 |
0.41 |
0.41 |
0.41 |
0.41 |
0.41 |
0.41 |
0.41 |
0.41 |
0.41 |
| Total Equity & Noncontrolling Interests |
|
9,811 |
9,765 |
9,765 |
9,867 |
9,952 |
10,115 |
10,268 |
10,382 |
10,501 |
10,662 |
10,607 |
| Total Preferred & Common Equity |
|
9,755 |
9,696 |
9,699 |
9,780 |
9,875 |
10,046 |
10,204 |
10,305 |
10,439 |
10,611 |
10,567 |
| Preferred Stock |
|
- |
0.00 |
0.04 |
0.04 |
0.04 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
| Total Common Equity |
|
9,755 |
9,696 |
9,699 |
9,780 |
9,875 |
10,046 |
10,204 |
10,305 |
10,439 |
10,611 |
10,567 |
| Common Stock |
|
2,246 |
2,197 |
2,245 |
2,239 |
2,263 |
2,292 |
2,300 |
2,336 |
2,352 |
2,279 |
2,119 |
| Retained Earnings |
|
7,931 |
7,869 |
7,853 |
7,938 |
8,023 |
8,124 |
8,312 |
8,309 |
8,462 |
8,646 |
8,804 |
| Accumulated Other Comprehensive Income / (Loss) |
|
-421 |
-370 |
-398 |
-396 |
-411 |
-370 |
-408 |
-340 |
-375 |
-315 |
-356 |
| Noncontrolling Interest |
|
56 |
70 |
66 |
87 |
77 |
69 |
64 |
77 |
62 |
51 |
40 |
Annual Metrics And Ratios for Jefferies Financial Group
This table displays calculated financial ratios and metrics derived from Jefferies Financial Group's official financial filings.
| Metric |
|
2014 |
2015 |
2016 |
2017 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
0.00% |
-6.23% |
-72.46% |
50.05% |
0.00% |
53.73% |
36.98% |
-25.39% |
-21.38% |
49.66% |
4.39% |
| EBITDA Growth |
|
0.00% |
1.47% |
-83.82% |
1,130.96% |
0.00% |
196.90% |
99.27% |
-48.09% |
-62.43% |
157.28% |
-10.84% |
| EBIT Growth |
|
0.00% |
-6.48% |
-96.10% |
7,671.71% |
0.00% |
287.17% |
111.24% |
-53.17% |
-66.44% |
183.84% |
-13.38% |
| NOPAT Growth |
|
0.00% |
14.56% |
-104.81% |
3,796.62% |
0.00% |
1.16% |
118.29% |
-53.40% |
-66.43% |
171.49% |
-3.64% |
| Net Income Growth |
|
0.00% |
26.67% |
-12.41% |
229.33% |
0.00% |
-20.17% |
118.29% |
-53.40% |
-66.43% |
172.89% |
-4.74% |
| EPS Growth |
|
0.00% |
37.04% |
-54.05% |
32.35% |
0.00% |
-12.54% |
131.32% |
-50.08% |
-64.05% |
171.82% |
-5.35% |
| Operating Cash Flow Growth |
|
0.00% |
22.83% |
175.14% |
37.71% |
0.00% |
348.29% |
-23.02% |
14.07% |
-207.14% |
89.18% |
-616.60% |
| Free Cash Flow Firm Growth |
|
170.63% |
-191.82% |
114.15% |
-169.85% |
0.00% |
0.00% |
151.66% |
309.28% |
-176.74% |
-11.33% |
-40.91% |
| Invested Capital Growth |
|
-55.27% |
115.90% |
-7.54% |
6.88% |
0.00% |
10.41% |
-0.04% |
-14.34% |
15.19% |
15.67% |
18.44% |
| Revenue Q/Q Growth |
|
787.14% |
-3.02% |
-69.29% |
940.28% |
0.00% |
-7.68% |
-4.70% |
6.69% |
-4.87% |
12.10% |
1.55% |
| EBITDA Q/Q Growth |
|
884.27% |
11.04% |
-70.72% |
122.96% |
0.00% |
-37.94% |
-34.34% |
6,454.15% |
-22.59% |
25.60% |
-4.49% |
| EBIT Q/Q Growth |
|
673.90% |
17.50% |
-89.18% |
128.70% |
0.00% |
-43.51% |
-33.67% |
721.98% |
-23.29% |
27.62% |
-5.60% |
| NOPAT Q/Q Growth |
|
562.92% |
-18.73% |
-109.23% |
-7.20% |
0.00% |
-43.47% |
1.65% |
-19.77% |
-21.18% |
26.29% |
-0.45% |
| Net Income Q/Q Growth |
|
228.77% |
43.99% |
157.91% |
10.55% |
0.00% |
-49.15% |
1.55% |
-19.77% |
-21.18% |
27.28% |
-1.81% |
| EPS Q/Q Growth |
|
231.71% |
34.55% |
142.86% |
-71.15% |
0.00% |
20.45% |
2.51% |
-16.39% |
-21.99% |
27.78% |
-3.08% |
| Operating Cash Flow Q/Q Growth |
|
55.19% |
15.66% |
-23.62% |
-39.47% |
0.00% |
48.20% |
34.26% |
-37.87% |
-29.40% |
89.34% |
14.30% |
| Free Cash Flow Firm Q/Q Growth |
|
503.27% |
-938.64% |
3.45% |
-542.60% |
-100.00% |
-2,295.72% |
158.67% |
156.91% |
-397.69% |
-21.53% |
-52.40% |
| Invested Capital Q/Q Growth |
|
-57.80% |
-4.04% |
-4.95% |
-0.48% |
-0.12% |
6.95% |
-3.95% |
-14.41% |
2.04% |
4.35% |
9.25% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
4.54% |
4.91% |
2.88% |
23.65% |
10.65% |
20.57% |
29.93% |
20.82% |
9.95% |
17.11% |
14.61% |
| EBIT Margin |
|
3.32% |
3.31% |
0.47% |
24.29% |
7.24% |
18.24% |
28.13% |
17.66% |
7.54% |
14.29% |
11.86% |
| Profit (Net Income) Margin |
|
1.73% |
2.34% |
7.44% |
16.34% |
25.29% |
13.13% |
20.93% |
13.07% |
5.58% |
10.18% |
9.29% |
| Tax Burden Percent |
|
52.21% |
70.71% |
1,587.73% |
67.28% |
349.24% |
72.01% |
74.41% |
74.06% |
74.06% |
71.21% |
78.31% |
| Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| Effective Tax Rate |
|
43.54% |
30.84% |
185.31% |
59.42% |
-175.59% |
27.99% |
25.59% |
25.94% |
25.94% |
29.16% |
21.19% |
| Return on Invested Capital (ROIC) |
|
0.73% |
0.86% |
-0.03% |
1.17% |
1.95% |
1.88% |
3.90% |
1.96% |
0.66% |
1.56% |
1.28% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.65% |
0.89% |
0.82% |
2.24% |
2.64% |
1.88% |
3.90% |
1.96% |
0.66% |
1.57% |
1.27% |
| Return on Net Nonoperating Assets (RNNOA) |
|
1.17% |
1.55% |
2.16% |
5.80% |
8.05% |
6.18% |
12.73% |
5.43% |
1.93% |
5.59% |
5.25% |
| Return on Equity (ROE) |
|
1.90% |
2.41% |
2.13% |
6.97% |
10.00% |
8.06% |
16.63% |
7.39% |
2.59% |
7.15% |
6.54% |
| Cash Return on Invested Capital (CROIC) |
|
77.11% |
-72.52% |
7.80% |
-5.48% |
0.00% |
-8.01% |
3.95% |
17.40% |
-13.45% |
-12.97% |
-15.60% |
| Operating Return on Assets (OROA) |
|
1.15% |
1.10% |
0.03% |
2.34% |
0.57% |
2.08% |
4.13% |
1.97% |
0.65% |
1.64% |
1.24% |
| Return on Assets (ROA) |
|
0.60% |
0.78% |
0.48% |
1.58% |
1.99% |
1.50% |
3.07% |
1.46% |
0.48% |
1.17% |
0.97% |
| Return on Common Equity (ROCE) |
|
1.85% |
2.39% |
2.10% |
6.76% |
9.89% |
8.03% |
16.46% |
7.26% |
2.56% |
7.09% |
6.49% |
| Return on Equity Simple (ROE_SIMPLE) |
|
1.93% |
2.42% |
2.18% |
7.20% |
10.05% |
8.17% |
15.89% |
7.64% |
2.70% |
7.05% |
6.45% |
| Net Operating Profit after Tax (NOPAT) |
|
215 |
247 |
-12 |
439 |
760 |
768 |
1,677 |
782 |
262 |
712 |
686 |
| NOPAT Margin |
|
1.87% |
2.29% |
-0.40% |
9.85% |
19.96% |
13.13% |
20.93% |
13.07% |
5.58% |
10.13% |
9.35% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.09% |
-0.03% |
-0.85% |
-1.07% |
-0.69% |
0.00% |
0.00% |
0.00% |
0.00% |
-0.01% |
0.01% |
| SG&A Expenses to Revenue |
|
16.03% |
15.46% |
56.92% |
43.84% |
47.95% |
58.90% |
51.90% |
55.05% |
70.12% |
65.51% |
67.00% |
| Operating Expenses to Revenue |
|
96.68% |
96.69% |
99.53% |
75.71% |
92.76% |
81.76% |
71.87% |
82.35% |
92.46% |
85.71% |
88.14% |
| Earnings before Interest and Taxes (EBIT) |
|
381 |
357 |
14 |
1,081 |
276 |
1,067 |
2,254 |
1,056 |
354 |
1,006 |
871 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
521 |
529 |
86 |
1,053 |
405 |
1,204 |
2,398 |
1,245 |
468 |
1,203 |
1,073 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
0.55 |
0.43 |
0.59 |
0.67 |
0.53 |
0.52 |
0.75 |
0.76 |
0.75 |
1.59 |
1.12 |
| Price to Tangible Book Value (P/TBV) |
|
0.55 |
0.57 |
0.78 |
0.89 |
0.66 |
0.65 |
0.90 |
0.92 |
0.92 |
1.94 |
1.36 |
| Price to Revenue (P/Rev) |
|
0.49 |
0.41 |
2.01 |
1.53 |
1.33 |
0.83 |
0.99 |
1.30 |
1.54 |
2.30 |
1.62 |
| Price to Earnings (P/E) |
|
27.69 |
15.84 |
27.52 |
9.42 |
5.29 |
6.30 |
4.73 |
10.03 |
27.50 |
24.16 |
18.82 |
| Dividend Yield |
|
1.63% |
2.05% |
1.51% |
1.70% |
2.96% |
3.16% |
2.79% |
4.41% |
3.49% |
1.65% |
2.78% |
| Earnings Yield |
|
3.61% |
6.31% |
3.63% |
10.61% |
18.91% |
15.88% |
21.12% |
9.97% |
3.64% |
4.14% |
5.31% |
| Enterprise Value to Invested Capital (EV/IC) |
|
0.74 |
0.74 |
0.76 |
0.76 |
0.66 |
0.64 |
0.66 |
0.64 |
0.71 |
0.85 |
0.76 |
| Enterprise Value to Revenue (EV/Rev) |
|
1.18 |
2.68 |
9.24 |
6.62 |
6.78 |
4.68 |
3.56 |
3.96 |
6.38 |
5.93 |
6.05 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
25.91 |
54.51 |
320.30 |
27.97 |
63.64 |
22.75 |
11.90 |
19.03 |
64.06 |
34.69 |
41.38 |
| Enterprise Value to EBIT (EV/EBIT) |
|
35.41 |
80.81 |
1,969.52 |
27.24 |
93.61 |
25.66 |
12.66 |
22.44 |
84.58 |
41.52 |
50.97 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
62.71 |
116.84 |
0.00 |
67.13 |
33.97 |
35.63 |
17.01 |
30.31 |
114.20 |
58.61 |
64.68 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
47.85 |
37.35 |
0.00 |
13.32 |
18.04 |
13.13 |
0.00 |
0.00 |
0.00 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.60 |
0.00 |
9.31 |
0.00 |
0.00 |
0.00 |
16.83 |
3.41 |
0.00 |
0.00 |
0.00 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
0.74 |
2.74 |
2.52 |
2.65 |
3.03 |
3.41 |
3.00 |
2.53 |
3.32 |
3.79 |
4.46 |
| Long-Term Debt to Equity |
|
0.73 |
1.08 |
1.09 |
1.11 |
1.34 |
1.43 |
1.41 |
1.17 |
1.32 |
1.79 |
2.00 |
| Financial Leverage |
|
1.80 |
1.74 |
2.63 |
2.59 |
3.04 |
3.29 |
3.26 |
2.77 |
2.91 |
3.56 |
4.13 |
| Leverage Ratio |
|
3.15 |
3.09 |
4.40 |
4.42 |
4.87 |
5.38 |
5.42 |
5.07 |
5.39 |
6.10 |
6.73 |
| Compound Leverage Factor |
|
3.15 |
3.09 |
4.40 |
4.42 |
4.87 |
5.38 |
5.42 |
5.07 |
5.39 |
6.10 |
6.73 |
| Debt to Total Capital |
|
42.53% |
73.28% |
71.55% |
72.62% |
75.18% |
77.31% |
75.02% |
71.66% |
76.87% |
79.14% |
81.67% |
| Short-Term Debt to Total Capital |
|
0.71% |
44.38% |
40.56% |
42.15% |
41.84% |
44.97% |
39.77% |
38.56% |
46.27% |
41.90% |
44.95% |
| Long-Term Debt to Total Capital |
|
41.82% |
28.91% |
30.99% |
30.47% |
33.34% |
32.34% |
35.25% |
33.10% |
30.60% |
37.24% |
36.72% |
| Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Noncontrolling Interests to Total Capital |
|
0.69% |
0.17% |
0.48% |
1.19% |
0.13% |
0.08% |
0.41% |
0.53% |
0.22% |
0.14% |
0.12% |
| Common Equity to Total Capital |
|
56.78% |
26.55% |
27.96% |
26.19% |
24.69% |
22.61% |
24.57% |
27.81% |
22.91% |
20.72% |
18.21% |
| Debt to EBITDA |
|
14.81 |
54.31 |
303.05 |
26.62 |
71.95 |
26.72 |
13.43 |
21.18 |
69.65 |
32.24 |
44.20 |
| Net Debt to EBITDA |
|
14.81 |
46.00 |
248.50 |
21.06 |
51.04 |
18.69 |
8.53 |
12.62 |
48.40 |
21.20 |
30.25 |
| Long-Term Debt to EBITDA |
|
14.57 |
21.42 |
131.27 |
11.17 |
31.90 |
11.18 |
6.31 |
9.78 |
27.73 |
15.17 |
19.87 |
| Debt to NOPAT |
|
35.85 |
116.42 |
-2,184.34 |
63.89 |
38.40 |
41.85 |
19.21 |
33.73 |
124.16 |
54.46 |
69.08 |
| Net Debt to NOPAT |
|
35.85 |
98.62 |
-1,791.18 |
50.55 |
27.24 |
29.28 |
12.19 |
20.09 |
86.27 |
35.81 |
47.28 |
| Long-Term Debt to NOPAT |
|
35.25 |
45.92 |
-946.14 |
26.81 |
17.03 |
17.51 |
9.03 |
15.58 |
49.43 |
25.63 |
31.06 |
| Noncontrolling Interest Sharing Ratio |
|
2.68% |
0.91% |
1.16% |
3.04% |
1.07% |
0.44% |
1.05% |
1.75% |
1.42% |
0.81% |
0.65% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
22,634 |
-20,783 |
2,941 |
-2,055 |
0.00 |
-3,282 |
1,695 |
6,939 |
-5,325 |
-5,928 |
-8,353 |
| Operating Cash Flow to CapEx |
|
-179.87% |
-278.96% |
272.59% |
829.91% |
-356.47% |
1,161.54% |
955.46% |
804.65% |
-167,413.51% |
-83.51% |
-722.77% |
| Free Cash Flow to Firm to Interest Expense |
|
26.68 |
-22.76 |
3.24 |
-1.92 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow to Interest Expense |
|
-1.16 |
-0.83 |
0.63 |
0.73 |
-0.53 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
-1.81 |
-1.13 |
0.40 |
0.65 |
-0.68 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.35 |
0.33 |
0.06 |
0.10 |
0.08 |
0.11 |
0.15 |
0.11 |
0.09 |
0.12 |
0.10 |
| Fixed Asset Turnover |
|
0.00 |
0.00 |
4.15 |
0.00 |
0.00 |
0.00 |
0.00 |
6.58 |
4.77 |
6.22 |
6.02 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
18,144 |
39,174 |
36,221 |
38,714 |
38,918 |
42,968 |
42,950 |
36,793 |
42,381 |
49,021 |
58,061 |
| Invested Capital Turnover |
|
0.39 |
0.38 |
0.08 |
0.12 |
0.10 |
0.14 |
0.19 |
0.15 |
0.12 |
0.15 |
0.14 |
| Increase / (Decrease) in Invested Capital |
|
-22,418 |
21,030 |
-2,953 |
2,493 |
0.00 |
4,050 |
-18 |
-6,157 |
5,587 |
6,641 |
9,040 |
| Enterprise Value (EV) |
|
13,499 |
28,813 |
27,392 |
29,442 |
25,800 |
27,378 |
28,538 |
23,692 |
29,965 |
41,750 |
44,398 |
| Market Capitalization |
|
5,657 |
4,429 |
5,964 |
6,812 |
5,062 |
4,848 |
7,911 |
7,792 |
7,235 |
16,171 |
11,873 |
| Book Value per Share |
|
$27.96 |
$28.71 |
$28.13 |
$28.37 |
$31.95 |
$36.82 |
$42.98 |
$44.69 |
$46.14 |
$49.42 |
$51.26 |
| Tangible Book Value per Share |
|
$27.96 |
$21.40 |
$21.15 |
$21.45 |
$25.53 |
$29.32 |
$35.87 |
$37.11 |
$37.36 |
$40.53 |
$42.36 |
| Total Capital |
|
18,144 |
39,174 |
36,221 |
38,589 |
38,793 |
41,594 |
42,950 |
36,793 |
42,381 |
49,021 |
58,061 |
| Total Debt |
|
7,717 |
28,708 |
25,917 |
28,024 |
29,165 |
32,156 |
32,220 |
26,366 |
32,578 |
38,796 |
47,418 |
| Total Long-Term Debt |
|
7,588 |
11,324 |
11,226 |
11,759 |
12,933 |
13,451 |
15,139 |
12,178 |
12,969 |
18,254 |
21,323 |
| Net Debt |
|
7,717 |
24,318 |
21,252 |
22,170 |
20,689 |
22,496 |
20,450 |
15,706 |
22,637 |
25,510 |
32,457 |
| Capital Expenditures (CapEx) |
|
549 |
273 |
210 |
95 |
232 |
177 |
166 |
224 |
1.16 |
251 |
207 |
| Net Nonoperating Expense (NNE) |
|
16 |
-5.52 |
-233 |
-289 |
-203 |
0.00 |
0.00 |
0.00 |
0.00 |
-3.67 |
4.37 |
| Net Nonoperating Obligations (NNO) |
|
7,717 |
28,708 |
25,917 |
28,149 |
29,290 |
33,530 |
32,220 |
26,366 |
32,578 |
38,796 |
47,418 |
| Total Depreciation and Amortization (D&A) |
|
140 |
172 |
72 |
-28 |
130 |
136 |
144 |
189 |
113 |
198 |
202 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.54 |
$0.74 |
$0.34 |
$0.45 |
$3.07 |
$2.68 |
$6.29 |
$3.13 |
$1.12 |
$3.08 |
$2.93 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
366.64M |
362.24M |
359.81M |
356.25M |
287.94M |
251.07M |
241.86M |
226.16M |
211.94M |
217.08M |
215.10M |
| Adjusted Diluted Earnings per Share |
|
$0.54 |
$0.74 |
$0.34 |
$0.45 |
$3.03 |
$2.65 |
$6.13 |
$3.06 |
$1.10 |
$2.99 |
$2.83 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
366.64M |
362.24M |
359.81M |
356.25M |
287.94M |
251.07M |
241.86M |
226.16M |
211.94M |
223.65M |
222.75M |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
366.64M |
362.24M |
359.81M |
356.25M |
287.94M |
251.07M |
241.86M |
226.16M |
211.94M |
206.09M |
206.69M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
137 |
170 |
-98 |
809 |
193 |
768 |
1,677 |
782 |
262 |
712 |
686 |
| Normalized NOPAT Margin |
|
1.19% |
1.58% |
-3.32% |
18.18% |
5.07% |
13.13% |
20.93% |
13.07% |
5.58% |
10.13% |
9.35% |
| Pre Tax Income Margin |
|
3.32% |
3.31% |
0.47% |
24.29% |
7.24% |
18.24% |
28.13% |
17.66% |
7.54% |
14.29% |
11.86% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
0.45 |
0.39 |
0.02 |
1.01 |
0.18 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| NOPAT to Interest Expense |
|
0.25 |
0.27 |
-0.01 |
0.41 |
0.49 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| EBIT Less CapEx to Interest Expense |
|
-0.20 |
0.09 |
-0.22 |
0.92 |
0.03 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| NOPAT Less CapEx to Interest Expense |
|
-0.39 |
-0.03 |
-0.24 |
0.32 |
0.34 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
46.76% |
36.71% |
41.34% |
16.14% |
15.55% |
20.94% |
13.28% |
35.83% |
106.18% |
42.31% |
54.85% |
| Augmented Payout Ratio |
|
84.81% |
86.59% |
84.37% |
29.96% |
68.52% |
127.25% |
29.34% |
145.80% |
170.74% |
48.50% |
63.43% |
Quarterly Metrics And Ratios for Jefferies Financial Group
This table displays calculated financial ratios and metrics derived from Jefferies Financial Group's official financial filings.
| Metric |
|
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
| DEI Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
206,691,275.00 |
204,432,307.00 |
| DEI Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
206,691,275.00 |
204,432,307.00 |
| DEI Earnings Per Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
0.77 |
1.22 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
-16.75% |
35.43% |
59.64% |
42.42% |
63.43% |
-8.35% |
-1.33% |
21.61% |
5.74% |
26.62% |
35.00% |
| EBITDA Growth |
|
-54.10% |
38.02% |
533.27% |
157.96% |
211.74% |
-30.40% |
-31.35% |
29.03% |
-13.97% |
37.75% |
87.29% |
| EBIT Growth |
|
-55.21% |
39.38% |
1,171.02% |
177.46% |
249.37% |
-31.41% |
-40.77% |
31.31% |
-16.94% |
40.48% |
133.91% |
| NOPAT Growth |
|
-50.02% |
27.03% |
1,680.83% |
223.79% |
210.57% |
-16.70% |
-40.90% |
38.83% |
-1.41% |
16.44% |
173.51% |
| Net Income Growth |
|
-50.02% |
20.93% |
1,681.29% |
235.59% |
217.89% |
-12.50% |
-40.92% |
33.95% |
-5.63% |
16.44% |
173.51% |
| EPS Growth |
|
-51.67% |
22.22% |
1,180.00% |
240.91% |
224.14% |
-13.64% |
-37.50% |
34.67% |
-9.57% |
22.81% |
437.50% |
| Operating Cash Flow Growth |
|
-111.03% |
28.37% |
-92.17% |
-32.84% |
4,016.58% |
-104.56% |
-3,093.49% |
128.40% |
14.63% |
34.81% |
263.49% |
| Free Cash Flow Firm Growth |
|
-187.60% |
-197.65% |
-313.63% |
-448.85% |
-16.40% |
-30.00% |
38.02% |
-12.55% |
-37.41% |
62.46% |
-73.02% |
| Invested Capital Growth |
|
15.19% |
16.26% |
19.71% |
13.10% |
15.67% |
18.01% |
10.20% |
13.14% |
18.44% |
5.93% |
16.18% |
| Revenue Q/Q Growth |
|
1.28% |
45.19% |
-4.70% |
1.64% |
16.22% |
-18.58% |
2.60% |
25.27% |
1.05% |
-2.50% |
9.39% |
| EBITDA Q/Q Growth |
|
-0.57% |
128.28% |
4.85% |
8.39% |
20.16% |
-49.03% |
3.42% |
103.72% |
-19.89% |
-18.39% |
40.61% |
| EBIT Q/Q Growth |
|
-4.18% |
152.39% |
3.41% |
10.95% |
20.65% |
-50.45% |
-10.70% |
145.97% |
-23.69% |
-16.19% |
48.69% |
| NOPAT Q/Q Growth |
|
30.56% |
133.25% |
-5.87% |
12.95% |
25.23% |
-37.44% |
-33.21% |
165.34% |
-11.07% |
-26.12% |
56.88% |
| Net Income Q/Q Growth |
|
30.56% |
122.04% |
-1.09% |
17.04% |
23.68% |
-38.88% |
-33.21% |
165.34% |
-12.87% |
-24.59% |
56.88% |
| EPS Q/Q Growth |
|
31.82% |
127.59% |
-3.03% |
17.19% |
25.33% |
-39.36% |
-29.82% |
152.50% |
-15.84% |
-17.65% |
207.14% |
| Operating Cash Flow Q/Q Growth |
|
91.06% |
-2,884.82% |
102.51% |
-2,084.76% |
363.56% |
-255.89% |
63.29% |
118.83% |
964.02% |
-188.65% |
192.06% |
| Free Cash Flow Firm Q/Q Growth |
|
-465.40% |
-10.92% |
-24.60% |
30.92% |
-21.92% |
-23.88% |
40.59% |
-25.44% |
-48.85% |
66.16% |
-173.83% |
| Invested Capital Q/Q Growth |
|
2.04% |
6.00% |
5.18% |
-0.58% |
4.35% |
8.15% |
-1.79% |
2.07% |
9.25% |
-3.27% |
7.71% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
9.68% |
15.21% |
16.74% |
17.85% |
18.46% |
11.55% |
11.65% |
18.94% |
15.02% |
12.57% |
16.16% |
| EBIT Margin |
|
7.29% |
12.67% |
13.75% |
15.01% |
15.58% |
9.48% |
8.25% |
16.21% |
12.24% |
10.52% |
14.30% |
| Profit (Net Income) Margin |
|
5.88% |
9.00% |
9.34% |
10.75% |
11.44% |
8.59% |
5.59% |
11.84% |
10.21% |
7.90% |
11.33% |
| Tax Burden Percent |
|
80.72% |
71.01% |
67.92% |
71.65% |
73.44% |
90.59% |
67.75% |
73.08% |
83.45% |
75.09% |
79.22% |
| Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| Effective Tax Rate |
|
19.28% |
25.41% |
32.10% |
30.87% |
28.25% |
9.41% |
32.25% |
26.92% |
14.82% |
24.91% |
20.78% |
| Return on Invested Capital (ROIC) |
|
0.70% |
1.17% |
1.24% |
1.47% |
1.72% |
1.21% |
0.77% |
1.71% |
1.43% |
1.12% |
1.68% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.70% |
1.14% |
1.24% |
1.49% |
1.74% |
1.21% |
0.77% |
1.71% |
1.42% |
1.12% |
1.68% |
| Return on Net Nonoperating Assets (RNNOA) |
|
2.04% |
3.70% |
4.22% |
5.14% |
6.18% |
4.67% |
3.00% |
6.60% |
5.87% |
4.74% |
7.32% |
| Return on Equity (ROE) |
|
2.73% |
4.87% |
5.47% |
6.61% |
7.91% |
5.88% |
3.78% |
8.31% |
7.30% |
5.86% |
9.00% |
| Cash Return on Invested Capital (CROIC) |
|
-13.45% |
-14.33% |
-16.92% |
-11.02% |
-12.97% |
-15.13% |
-8.45% |
-10.95% |
-15.60% |
-4.46% |
-13.43% |
| Operating Return on Assets (OROA) |
|
0.63% |
1.16% |
1.36% |
1.58% |
1.79% |
1.00% |
0.87% |
1.77% |
1.28% |
1.13% |
1.62% |
| Return on Assets (ROA) |
|
0.51% |
0.82% |
0.92% |
1.13% |
1.32% |
0.90% |
0.59% |
1.29% |
1.07% |
0.85% |
1.29% |
| Return on Common Equity (ROCE) |
|
2.70% |
4.83% |
5.43% |
6.57% |
7.84% |
5.83% |
3.75% |
8.26% |
7.25% |
5.83% |
8.95% |
| Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
2.96% |
4.41% |
5.60% |
0.00% |
6.83% |
6.14% |
6.65% |
0.00% |
6.64% |
8.17% |
| Net Operating Profit after Tax (NOPAT) |
|
70 |
164 |
155 |
175 |
219 |
137 |
91 |
243 |
216 |
159 |
250 |
| NOPAT Margin |
|
5.88% |
9.45% |
9.34% |
10.38% |
11.18% |
8.59% |
5.59% |
11.84% |
10.42% |
7.90% |
11.33% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.02% |
0.00% |
-0.02% |
-0.01% |
0.00% |
0.00% |
0.00% |
0.01% |
0.00% |
0.00% |
| SG&A Expenses to Revenue |
|
68.22% |
66.17% |
66.12% |
66.78% |
63.31% |
67.99% |
68.02% |
66.06% |
66.37% |
67.18% |
66.84% |
| Operating Expenses to Revenue |
|
92.71% |
87.33% |
86.25% |
84.99% |
84.42% |
90.52% |
91.75% |
83.79% |
87.76% |
89.48% |
85.70% |
| Earnings before Interest and Taxes (EBIT) |
|
87 |
220 |
228 |
253 |
305 |
151 |
135 |
332 |
253 |
212 |
316 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
116 |
264 |
277 |
301 |
361 |
184 |
190 |
388 |
311 |
254 |
357 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
0.75 |
0.88 |
0.98 |
1.21 |
1.59 |
1.34 |
0.97 |
1.28 |
1.12 |
0.86 |
1.02 |
| Price to Tangible Book Value (P/TBV) |
|
0.92 |
1.08 |
1.21 |
1.48 |
1.94 |
1.63 |
1.18 |
1.56 |
1.36 |
1.03 |
1.22 |
| Price to Revenue (P/Rev) |
|
1.54 |
1.67 |
1.68 |
1.94 |
2.30 |
1.98 |
1.45 |
1.85 |
1.62 |
1.18 |
1.29 |
| Price to Earnings (P/E) |
|
27.50 |
30.82 |
23.33 |
22.93 |
24.16 |
21.07 |
16.89 |
20.69 |
18.82 |
13.93 |
13.52 |
| Dividend Yield |
|
3.49% |
2.94% |
2.62% |
2.11% |
1.65% |
2.11% |
3.11% |
2.39% |
2.78% |
3.60% |
3.03% |
| Earnings Yield |
|
3.64% |
3.24% |
4.29% |
4.36% |
4.14% |
4.75% |
5.92% |
4.83% |
5.31% |
7.18% |
7.39% |
| Enterprise Value to Invested Capital (EV/IC) |
|
0.71 |
0.78 |
0.74 |
0.79 |
0.85 |
0.82 |
0.76 |
0.82 |
0.76 |
0.73 |
0.75 |
| Enterprise Value to Revenue (EV/Rev) |
|
6.38 |
6.78 |
6.09 |
5.93 |
5.93 |
6.33 |
5.74 |
6.02 |
6.05 |
5.28 |
5.43 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
64.06 |
64.63 |
45.40 |
38.81 |
34.69 |
38.84 |
38.04 |
38.74 |
41.38 |
35.90 |
34.58 |
| Enterprise Value to EBIT (EV/EBIT) |
|
84.58 |
83.88 |
56.10 |
47.20 |
41.52 |
46.58 |
46.72 |
47.16 |
50.97 |
44.00 |
40.67 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
114.20 |
117.49 |
79.27 |
65.93 |
58.61 |
63.68 |
63.39 |
63.11 |
64.68 |
57.85 |
52.17 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
22.56 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
3.32 |
3.55 |
3.75 |
3.64 |
3.79 |
4.16 |
4.01 |
4.06 |
4.46 |
4.27 |
4.70 |
| Long-Term Debt to Equity |
|
1.32 |
1.42 |
1.65 |
1.70 |
1.79 |
1.91 |
1.94 |
2.02 |
2.00 |
2.08 |
2.21 |
| Financial Leverage |
|
2.91 |
3.25 |
3.40 |
3.45 |
3.56 |
3.86 |
3.88 |
3.86 |
4.13 |
4.22 |
4.36 |
| Leverage Ratio |
|
5.39 |
5.74 |
5.92 |
6.00 |
6.10 |
6.51 |
6.41 |
6.43 |
6.73 |
6.91 |
6.99 |
| Compound Leverage Factor |
|
5.39 |
5.74 |
5.92 |
6.00 |
6.10 |
6.51 |
6.41 |
6.43 |
6.73 |
6.91 |
6.99 |
| Debt to Total Capital |
|
76.87% |
78.03% |
78.94% |
78.47% |
79.14% |
80.63% |
80.06% |
80.24% |
81.67% |
81.02% |
82.46% |
| Short-Term Debt to Total Capital |
|
46.27% |
46.75% |
44.11% |
41.83% |
41.90% |
43.72% |
41.39% |
40.36% |
44.95% |
41.48% |
43.69% |
| Long-Term Debt to Total Capital |
|
30.60% |
31.29% |
34.83% |
36.64% |
37.24% |
36.91% |
38.67% |
39.88% |
36.72% |
39.54% |
38.77% |
| Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Noncontrolling Interests to Total Capital |
|
0.22% |
0.20% |
0.16% |
0.15% |
0.14% |
0.12% |
0.15% |
0.12% |
0.12% |
0.09% |
0.07% |
| Common Equity to Total Capital |
|
22.91% |
21.77% |
20.90% |
21.39% |
20.72% |
19.25% |
19.79% |
19.64% |
18.21% |
18.89% |
17.47% |
| Debt to EBITDA |
|
69.65 |
64.85 |
48.18 |
38.47 |
32.24 |
38.07 |
40.23 |
37.96 |
44.20 |
39.83 |
38.12 |
| Net Debt to EBITDA |
|
48.40 |
48.55 |
32.76 |
26.02 |
21.20 |
26.63 |
28.35 |
26.77 |
30.25 |
27.82 |
26.32 |
| Long-Term Debt to EBITDA |
|
27.73 |
26.00 |
21.26 |
17.96 |
15.17 |
17.42 |
19.43 |
18.87 |
19.87 |
19.44 |
17.93 |
| Debt to NOPAT |
|
124.16 |
117.90 |
84.13 |
65.35 |
54.46 |
62.41 |
67.05 |
61.85 |
69.08 |
64.18 |
57.51 |
| Net Debt to NOPAT |
|
86.27 |
88.27 |
57.20 |
44.19 |
35.81 |
43.66 |
47.25 |
43.62 |
47.28 |
44.84 |
39.70 |
| Long-Term Debt to NOPAT |
|
49.43 |
47.27 |
37.12 |
30.51 |
25.63 |
28.57 |
32.39 |
30.74 |
31.06 |
31.32 |
27.04 |
| Noncontrolling Interest Sharing Ratio |
|
1.42% |
0.74% |
0.75% |
0.69% |
0.81% |
0.76% |
0.76% |
0.64% |
0.65% |
0.55% |
0.56% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
-5,517 |
-6,120 |
-7,625 |
-5,267 |
-6,422 |
-7,955 |
-4,726 |
-5,928 |
-8,824 |
-2,986 |
-8,177 |
| Operating Cash Flow to CapEx |
|
0.00% |
-1,353.79% |
67.22% |
-1,812.05% |
2,444.77% |
-5,375.70% |
-2,240.34% |
316.59% |
3,497.01% |
-2,678.48% |
3,331.93% |
| Free Cash Flow to Firm to Interest Expense |
|
0.00 |
-7.52 |
-8.87 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow to Interest Expense |
|
0.00 |
-1.60 |
0.04 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
-1.72 |
-0.02 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.09 |
0.09 |
0.10 |
0.11 |
0.12 |
0.11 |
0.11 |
0.11 |
0.10 |
0.11 |
0.11 |
| Fixed Asset Turnover |
|
4.77 |
5.14 |
5.46 |
5.81 |
6.22 |
5.94 |
5.63 |
5.82 |
6.02 |
6.43 |
6.88 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
42,381 |
44,925 |
47,250 |
46,976 |
49,021 |
53,017 |
52,067 |
53,147 |
58,061 |
56,163 |
60,494 |
| Invested Capital Turnover |
|
0.12 |
0.12 |
0.13 |
0.14 |
0.15 |
0.14 |
0.14 |
0.14 |
0.14 |
0.14 |
0.15 |
| Increase / (Decrease) in Invested Capital |
|
5,587 |
6,284 |
7,780 |
5,442 |
6,641 |
8,092 |
4,817 |
6,171 |
9,040 |
3,145 |
8,427 |
| Enterprise Value (EV) |
|
29,965 |
34,935 |
35,139 |
37,188 |
41,750 |
43,614 |
39,408 |
43,515 |
44,398 |
41,013 |
45,254 |
| Market Capitalization |
|
7,235 |
8,601 |
9,703 |
12,192 |
16,171 |
13,643 |
9,957 |
13,377 |
11,873 |
9,177 |
10,778 |
| Book Value per Share |
|
$46.14 |
$46.12 |
$46.57 |
$48.89 |
$49.42 |
$49.51 |
$49.96 |
$50.60 |
$51.26 |
$51.34 |
$51.69 |
| Tangible Book Value per Share |
|
$37.36 |
$37.52 |
$37.97 |
$39.97 |
$40.53 |
$40.66 |
$41.03 |
$41.68 |
$42.36 |
$42.99 |
$43.25 |
| Total Capital |
|
42,381 |
44,925 |
47,250 |
46,976 |
49,021 |
53,017 |
52,067 |
53,147 |
58,061 |
56,163 |
60,494 |
| Total Debt |
|
32,578 |
35,057 |
37,297 |
36,860 |
38,796 |
42,748 |
41,685 |
42,645 |
47,418 |
45,500 |
49,886 |
| Total Long-Term Debt |
|
12,969 |
14,056 |
16,457 |
17,211 |
18,254 |
19,567 |
20,135 |
21,195 |
21,323 |
22,206 |
23,456 |
| Net Debt |
|
22,637 |
26,246 |
25,358 |
24,927 |
25,510 |
29,906 |
29,373 |
30,075 |
32,457 |
31,785 |
34,435 |
| Capital Expenditures (CapEx) |
|
-79 |
96 |
49 |
36 |
70 |
50 |
44 |
58 |
56 |
65 |
48 |
| Net Nonoperating Expense (NNE) |
|
0.00 |
7.89 |
-0.04 |
-6.36 |
-5.16 |
0.00 |
0.00 |
0.00 |
4.37 |
0.00 |
0.00 |
| Net Nonoperating Obligations (NNO) |
|
32,578 |
35,057 |
37,297 |
36,860 |
38,796 |
42,748 |
41,685 |
42,645 |
47,418 |
45,500 |
49,886 |
| Total Depreciation and Amortization (D&A) |
|
29 |
44 |
50 |
48 |
56 |
33 |
55 |
56 |
57 |
41 |
41 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.29 |
$0.68 |
$0.66 |
$0.78 |
$0.96 |
$0.60 |
$0.41 |
$1.04 |
$0.88 |
$0.72 |
$2.76 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
232.61M |
212.04M |
219.97M |
214.45M |
217.08M |
214.54M |
215.10M |
215.29M |
215.10M |
215.71M |
213.79M |
| Adjusted Diluted Earnings per Share |
|
$0.29 |
$0.66 |
$0.64 |
$0.75 |
$0.94 |
$0.57 |
$0.40 |
$1.01 |
$0.85 |
$0.70 |
$2.15 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
236.62M |
212.04M |
226.15M |
221.70M |
223.65M |
222.45M |
221.90M |
222.72M |
222.75M |
223.27M |
247.83M |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
211.94M |
212.04M |
205.49M |
205.50M |
206.09M |
206.26M |
206.28M |
206.28M |
206.69M |
204.43M |
230.55M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
70 |
164 |
155 |
175 |
219 |
137 |
91 |
243 |
216 |
159 |
250 |
| Normalized NOPAT Margin |
|
5.88% |
9.45% |
9.34% |
10.38% |
11.18% |
8.59% |
5.59% |
11.84% |
10.42% |
7.90% |
11.33% |
| Pre Tax Income Margin |
|
7.29% |
12.67% |
13.75% |
15.01% |
15.58% |
9.48% |
8.25% |
16.21% |
12.24% |
10.52% |
14.30% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
0.00 |
0.27 |
0.26 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| NOPAT to Interest Expense |
|
0.00 |
0.20 |
0.18 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| EBIT Less CapEx to Interest Expense |
|
0.00 |
0.15 |
0.21 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.08 |
0.12 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
106.18% |
96.64% |
64.24% |
51.79% |
42.31% |
46.78% |
55.31% |
52.14% |
54.85% |
53.11% |
43.06% |
| Augmented Payout Ratio |
|
170.74% |
152.46% |
75.35% |
60.41% |
48.50% |
55.05% |
64.45% |
60.56% |
63.43% |
78.16% |
86.24% |
Key Financial Trends
Jefferies Financial Group (NYSE:JEF) delivered a materially stronger second quarter of 2026. Total revenue increased to $2.21 billion from $1.63 billion in Q2 2025, a gain of approximately 35%. Net income rose to $250.0 million from $91.4 million, while net income attributable to common shareholders increased to $226.2 million from $88.0 million. Basic earnings per share climbed to $2.76 from $0.41.
The improvement was driven by stronger revenue growth and operating leverage. Total non-interest expense increased approximately 26% year over year to $1.89 billion, slower than revenue growth, reducing the expense-to-revenue ratio from roughly 92% to 86%. Pre-tax income more than doubled to $315.5 million. The effective tax rate also declined to approximately 20.8% from 32.2% in Q2 2025, providing an additional lift to net income.
Jefferies’ balance sheet has expanded considerably since 2022. Total assets reached $79.5 billion in Q2 2026, up from $55.2 billion in Q3 2022. Trading account securities rose to $47.5 billion from $31.1 billion over the same period, while cash and due from banks increased to $14.3 billion from $9.5 billion. However, the expansion has been accompanied by higher funding needs: short- and long-term debt totaled $49.9 billion in Q2 2026, compared with $32.5 billion in Q3 2022.
Cash flow also improved sharply in the latest quarter, although it remains volatile. Operating cash flow was $1.60 billion in Q2 2026, compared with negative $1.74 billion in Q1 2026 and negative $978.3 million in Q2 2025. The latest inflow was heavily supported by a $1.34 billion benefit from changes in operating assets and liabilities, so investors should avoid treating one quarter’s operating cash flow as a steady earnings conversion rate.
- Strong earnings acceleration: Q2 2026 net income increased approximately 173% year over year, and basic EPS rose more than sixfold to $2.76.
- Revenue momentum: Total revenue grew 35% year over year and 9% sequentially from Q1 2026, indicating continued strength in Jefferies’ activity-driven businesses.
- Improved operating leverage: Revenue growth outpaced the 26% increase in non-interest expenses, lifting pre-tax income to $315.5 million from $212.2 million in Q1 2026 and $134.9 million in Q2 2025.
- Higher liquidity: Cash and due from banks increased to $14.3 billion in Q2 2026 from $11.3 billion in Q2 2025, while total cash including restricted cash remained substantial.
- Shareholder returns remain active: Jefferies repurchased approximately $197.4 million of common stock in Q2 2026 and maintained its $0.40 quarterly common dividend.
- Improving capital base: Total common equity rose to $10.57 billion from $10.30 billion a year earlier, supported by retained earnings and ongoing profitability.
- Operating cash flow is highly variable: The swing from negative cash flow in Q1 2026 to positive $1.60 billion in Q2 was primarily tied to working-capital movements, making the trend difficult to extrapolate.
- Revenue disclosure is concentrated: The standardized statements report essentially all recent revenue as other non-interest income, while interest-income lines are shown as zero for 2025 and 2026. Investors may need company-specific disclosures to assess business-line trends.
- Greater leverage and funding exposure: Total short- and long-term debt increased approximately 20% year over year to $49.9 billion and is up substantially from 2022, increasing sensitivity to funding costs and market conditions.
- Compensation remains a major cost: Salaries and employee benefits reached $1.19 billion in Q2 2026, accounting for more than 60% of non-interest expenses and rising approximately 9% sequentially from Q1.
09/03/26 07:12 PM ETAI Generated. May Contain Errors.