Jefferies Financial Group (JEF) Financials

$61.60 +1.94 (+3.26%)

Closing price 06/12/2026 03:59 PM Eastern

Extended Trading

$61.64 +0.04 (+0.07%)

As of 06/12/2026 07:50 PM Eastern

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.

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Net Income / (Loss) Attributable to Common Shareholders	204	280	217	723	957	770	1,671	777	263	669	631
Consolidated Net Income / (Loss)	199	252	221	727	963	768	1,677	782	262	716	682
Net Income / (Loss) Continuing Operations	215	247	-12	439	963	768	1,677	782	262	712	686
Total Pre-Tax Income	381	357	14	1,081	276	1,067	2,254	1,056	354	1,006	871
Total Revenue	11,486	10,771	2,966	4,451	3,806	5,851	8,014	5,979	4,700	7,035	7,344
Net Interest Income / (Expense)	-848	-913	-882	-1,023	-1,553	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Income	0.00	0.00	27	50	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	848	913	908	1,073	1,553	0.00	0.00	0.00	0.00	0.00	0.00
Total Non-Interest Income	12,335	11,684	3,848	5,474	5,359	5,851	8,014	5,979	4,700	7,035	7,344
Other Non-Interest Income	1,714	1,598	413	751	993	5,851	8,014	5,979	4,700	7,035	7,344
Total Non-Interest Expense	11,105	10,414	2,952	3,370	3,530	4,783	5,760	4,923	4,346	6,029	6,473
Salaries and Employee Benefits	1,842	1,665	1,688	1,951	1,825	2,944	3,555	2,589	2,535	3,660	3,860
Net Occupancy & Equipment Expense	-	-	-	-	-	431	494	552	583	665	725
Marketing Expense	-	-	-	-	-	71	110	151	178	283	336
Other Operating Expenses	9,216	8,635	-1,301	1,234	1,552	1,179	1,443	1,459	938	1,231	1,360
Depreciation Expense	186	224	117	110	153	158	157	173	112	190	192
Income Tax Expense	166	110	26	642	-484	299	577	274	92	293	185
Net Income / (Loss) Discontinued Operations	-16	5.52	233	289	-	-	-	0.00	0.00	3.67	-4.37
Preferred Stock Dividends Declared	4.06	4.06	4.06	4.38	5.10	5.63	6.95	8.28	15	74	80
Net Income / (Loss) Attributable to Noncontrolling Interest	-9.34	-32	-	-	-	-6.83	-0.83	-1.34	-0.45	0.00	0.00
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
Weighted Average Basic Shares Outstanding	371.89M	372.43M	371.21M	6.14B	287.94M	251.07M	241.86M	247.38M	232.61M	217.08M	215.10M
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
Weighted Average Diluted Shares Outstanding	371.89M	372.43M	371.21M	6.14B	287.94M	251.07M	241.86M	255.57M	236.62M	223.65M	222.75M
Weighted Average Basic & Diluted Shares Outstanding	371.89M	372.43M	371.21M	6.14B	287.94M	251.07M	241.86M	226.16M	211.94M	206.09M	206.69M
Cash Dividends to Common per Share	$0.25	$0.25	$0.25	$0.33	$0.50	$0.60	$0.90	$1.20	$1.20	$1.30	$1.60

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Income / (Loss) Attributable to Common Shareholders	51	69	150	146	167	207	128	88	224	191	156
Consolidated Net Income / (Loss)	54	70	156	155	181	224	137	91	243	211	159
Net Income / (Loss) Continuing Operations	54	70	164	155	175	219	137	91	243	216	159
Total Pre-Tax Income	91	87	220	228	253	305	151	135	332	253	212
Total Revenue	1,182	1,197	1,738	1,656	1,684	1,957	1,593	1,634	2,047	2,069	2,017
Net Interest Income / (Expense)	0.00	497	0.00	0.00	0.00	1,674	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	0.00	-497	0.00	0.00	0.00	-1,674	0.00	0.00	0.00	-	0.00
Total Non-Interest Income	1,182	700	1,738	1,656	1,684	283	1,593	1,634	2,047	2,069	2,017
Other Non-Interest Income	1,182	700	1,738	1,656	1,684	283	1,593	1,634	2,047	2,069	2,017
Total Non-Interest Expense	1,091	1,110	1,518	1,429	1,431	1,652	1,442	1,500	1,716	1,816	1,805
Salaries and Employee Benefits	644	612	927	862	889	982	841	855	1,084	1,081	1,086
Net Occupancy & Equipment Expense	150	149	166	165	167	168	170	177	190	188	194
Marketing Expense	41	56	58	69	68	89	72	80	79	104	75
Other Operating Expenses	230	265	325	284	261	362	328	335	310	387	393
Depreciation Expense	25	28	43	50	46	51	31	52	53	56	57
Income Tax Expense	37	17	56	73	78	86	14	44	89	38	53
Preferred Stock Dividends Declared	6.30	6.30	14	14	21	25	16	11	29	24	20
Basic Earnings per Share	$0.22	$0.29	$0.68	$0.66	$0.78	$0.96	$0.60	$0.41	$1.04	$0.88	$0.72
Weighted Average Basic Shares Outstanding	228.35M	232.61M	220.05M	219.97M	214.45M	217.08M	214.54M	215.10M	215.29M	215.10M	215.71M
Diluted Earnings per Share	$0.22	$0.29	$0.66	$0.64	$0.75	$0.94	$0.57	$0.40	$1.01	$0.85	$0.70
Weighted Average Diluted Shares Outstanding	232.04M	236.62M	225.29M	226.15M	221.70M	223.65M	222.45M	221.90M	222.72M	222.75M	223.27M
Weighted Average Basic & Diluted Shares Outstanding	210.43M	211.94M	212.04M	205.49M	205.50M	206.09M	206.26M	206.28M	206.28M	206.69M	204.43M
Cash Dividends to Common per Share	$0.30	$0.30	$0.30	$0.30	$0.35	$0.35	$0.40	$0.40	$0.40	-	$0.40

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
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
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

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Change in Cash & Equivalents	612	298	-1,132	3,254	-74	1,301	-705	-149	258	2,391	-1,240
Net Cash From Operating Activities	-488	-44	-1,303	33	-649	1,710	-2,665	-978	184	1,960	-1,737
Net Cash From Continuing Operating Activities	-488	-44	-1,258	78	-670	1,710	-2,665	-978	184	1,964	-1,737
Net Income / (Loss) Continuing Operations	54	70	156	155	181	224	137	91	243	211	159
Consolidated Net Income / (Loss)	54	70	156	155	181	224	137	91	243	211	159
Provision For Loan Losses	17	22	40	6.88	1.71	4.15	7.49	5.97	3.47	7.50	14
Depreciation Expense	25	29	44	50	48	56	33	55	56	57	41
Non-Cash Adjustments to Reconcile Net Income	-31	-58	88	2.11	47	42	-16	223	237	148	210
Changes in Operating Assets and Liabilities, net	-553	-106	-1,586	-136	-948	1,383	-2,827	-1,354	-355	1,540	-2,163
Net Cash From Investing Activities	-139	244	-145	35	427	-107	-58	-99	-55	-87	-129
Net Cash From Continuing Investing Activities	-139	244	-145	35	427	-107	-58	-99	-55	-87	-129
Purchase of Property, Leasehold Improvements and Equipment	-30	79	-96	-49	-36	-70	-50	-44	-58	-56	-65
Sale and/or Maturity of Investments	93	180	88	2.96	-6.54	935	14	33	332	456	0.43
Other Investing Activities, net	-75	-121	-48	-15	-46	-972	-22	-89	-355	-487	-65
Net Cash From Financing Activities	1,242	42	318	3,186	127	-281	2,026	859	173	534	627
Net Cash From Continuing Financing Activities	1,242	42	321	3,178	302	-281	2,026	859	173	534	627
Issuance of Debt	3,630	1,198	1,317	4,434	2,833	3,698	4,791	2,353	3,643	5,380	4,652
Repayment of Debt	-2,884	-888	-887	-1,304	-2,652	-4,339	-2,615	-1,986	-3,308	-4,955	-3,764
Repurchase of Common Equity	-0.28	-4.13	-43	-0.95	-0.33	-0.00	-56	-1.25	-0.92	-0.03	-174
Payment of Dividends	-70	-70	-70	-70	-82	-82	-93	-94	-94	-94	-93
Other Financing Activities, Net	535	-193	2.89	119	193	442	-0.78	587	-68	202	6.56
Effect of Exchange Rate Changes	-2.87	55	-1.68	0.17	20	-21	-8.06	70	-44	-15	-0.15
Cash Interest Paid	824	682	839	740	956	905	846	870	872	890	831
Cash Income Taxes Paid	28	8.04	26	63	79	90	9.09	44	182	56	38

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
Period end date	12/31/2015	12/31/2016	12/31/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
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

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	8/31/2022	2/28/2023	5/31/2023	8/31/2023	2/29/2024	5/31/2024	8/31/2024	2/28/2025	5/31/2025	8/31/2025	2/28/2026
Total Assets	55,230	52,033	53,740	56,045	60,933	63,001	63,275	70,219	67,285	69,320	74,380
Cash and Due from Banks	9,478	7,509	8,005	8,817	7,616	10,842	10,573	11,176	11,260	11,458	11,963
Restricted Cash	984	1,015	1,068	872	1,195	1,097	1,360	1,666	1,051	1,112	1,753
Trading Account Securities	31,114	32,150	33,609	34,836	37,658	36,779	38,361	42,902	40,951	42,264	43,933
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
Premises and Equipment, Net	913	904	907	930	1,103	1,206	1,229	1,217	1,235	1,255	1,199
Goodwill	-	1,736	1,738	1,739	1,824	1,823	1,833	1,825	1,842	1,840	1,726
Other Assets	10,867	7,266	7,228	7,302	9,676	8,954	7,858	8,971	8,292	8,362	9,823
Total Liabilities & Shareholders' Equity	55,230	52,033	53,740	56,045	60,933	63,001	63,275	70,219	67,285	69,320	74,380
Total Liabilities	44,731	42,220	43,974	46,279	51,065	53,048	53,159	59,950	56,903	58,818	63,718
Short-Term Debt	20,386	16,620	17,912	18,569	21,001	20,841	19,649	23,181	21,549	21,450	23,295
Long-Term Debt	12,105	12,208	11,793	13,200	14,056	16,457	17,211	19,567	20,135	21,195	22,206
Other Long-Term Liabilities	12,365	13,392	14,270	14,510	16,008	15,750	16,299	17,202	15,218	16,173	18,218
Redeemable Noncontrolling Interest	13	1.80	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41
Total Equity & Noncontrolling Interests	10,360	9,811	9,765	9,765	9,867	9,952	10,115	10,268	10,382	10,501	10,662
Total Preferred & Common Equity	10,293	9,755	9,696	9,699	9,780	9,875	10,046	10,204	10,305	10,439	10,611
Preferred Stock	-	-	0.00	0.04	0.04	0.04	0.06	0.06	0.06	0.06	0.06
Total Common Equity	10,293	9,755	9,696	9,699	9,780	9,875	10,046	10,204	10,305	10,439	10,611
Common Stock	2,292	2,246	2,197	2,245	2,239	2,263	2,292	2,300	2,336	2,352	2,279
Retained Earnings	8,351	7,931	7,869	7,853	7,938	8,023	8,124	8,312	8,309	8,462	8,646
Accumulated Other Comprehensive Income / (Loss)	-350	-421	-370	-398	-396	-411	-370	-408	-340	-375	-315
Noncontrolling Interest	68	56	70	66	87	77	69	64	77	62	51

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
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
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%

This table displays calculated financial ratios and metrics derived from Jefferies Financial Group's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	206,691,275.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	206,691,275.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.77
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-21.71%	-16.75%	35.43%	59.64%	42.42%	63.43%	-8.35%	-1.33%	21.61%	5.74%	26.62%
EBITDA Growth	-66.20%	-54.10%	38.02%	533.27%	157.96%	211.74%	-30.40%	-31.35%	29.03%	-13.97%	37.75%
EBIT Growth	-69.83%	-55.21%	39.38%	1,171.02%	177.46%	249.37%	-31.41%	-40.77%	31.31%	-16.94%	40.48%
NOPAT Growth	-72.47%	-50.02%	27.03%	1,680.83%	223.79%	210.57%	-16.70%	-40.90%	38.83%	-1.41%	16.44%
Net Income Growth	-72.47%	-50.02%	20.93%	1,681.29%	235.59%	217.89%	-12.50%	-40.92%	33.95%	-5.63%	16.44%
EPS Growth	-71.79%	-51.67%	22.22%	1,180.00%	240.91%	224.14%	-13.64%	-37.50%	34.67%	-9.57%	22.81%
Operating Cash Flow Growth	-134.87%	-111.03%	28.37%	-92.17%	-32.84%	4,016.58%	-104.56%	-3,093.49%	128.40%	14.63%	34.81%
Free Cash Flow Firm Growth	-21.46%	-187.60%	-197.65%	-313.63%	-448.85%	-16.40%	-30.00%	38.02%	-12.55%	-37.41%	62.46%
Invested Capital Growth	-3.39%	15.19%	16.26%	19.71%	13.10%	15.67%	18.01%	10.20%	13.14%	18.44%	5.93%
Revenue Q/Q Growth	13.93%	1.28%	45.19%	-4.70%	1.64%	16.22%	-18.58%	2.60%	25.27%	1.05%	-2.50%
EBITDA Q/Q Growth	166.10%	-0.57%	128.28%	4.85%	8.39%	20.16%	-49.03%	3.42%	103.72%	-19.89%	-18.39%
EBIT Q/Q Growth	408.24%	-4.18%	152.39%	3.41%	10.95%	20.65%	-50.45%	-10.70%	145.97%	-23.69%	-16.19%
NOPAT Q/Q Growth	521.22%	30.56%	133.25%	-5.87%	12.95%	25.23%	-37.44%	-33.21%	165.34%	-11.07%	-26.12%
Net Income Q/Q Growth	521.22%	30.56%	122.04%	-1.09%	17.04%	23.68%	-38.88%	-33.21%	165.34%	-12.87%	-24.59%
EPS Q/Q Growth	340.00%	31.82%	127.59%	-3.03%	17.19%	25.33%	-39.36%	-29.82%	152.50%	-15.84%	-17.65%
Operating Cash Flow Q/Q Growth	-217.05%	91.06%	-2,884.82%	102.51%	-2,084.76%	363.56%	-255.89%	63.29%	118.83%	964.02%	-188.65%
Free Cash Flow Firm Q/Q Growth	-57.70%	-465.40%	-10.92%	-24.60%	30.92%	-21.92%	-23.88%	40.59%	-25.44%	-48.85%	66.16%
Invested Capital Q/Q Growth	5.23%	2.04%	6.00%	5.18%	-0.58%	4.35%	8.15%	-1.79%	2.07%	9.25%	-3.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	9.86%	9.68%	15.21%	16.74%	17.85%	18.46%	11.55%	11.65%	18.94%	15.02%	12.57%
EBIT Margin	7.70%	7.29%	12.67%	13.75%	15.01%	15.58%	9.48%	8.25%	16.21%	12.24%	10.52%
Profit (Net Income) Margin	4.56%	5.88%	9.00%	9.34%	10.75%	11.44%	8.59%	5.59%	11.84%	10.21%	7.90%
Tax Burden Percent	59.24%	80.72%	71.01%	67.92%	71.65%	73.44%	90.59%	67.75%	73.08%	83.45%	75.09%
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	40.76%	19.28%	25.41%	32.10%	30.87%	28.25%	9.41%	32.25%	26.92%	14.82%	24.91%
Return on Invested Capital (ROIC)	0.53%	0.70%	1.17%	1.24%	1.47%	1.72%	1.21%	0.77%	1.71%	1.43%	1.12%
ROIC Less NNEP Spread (ROIC-NNEP)	0.53%	0.70%	1.14%	1.24%	1.49%	1.74%	1.21%	0.77%	1.71%	1.42%	1.12%
Return on Net Nonoperating Assets (RNNOA)	1.71%	2.04%	3.70%	4.22%	5.14%	6.18%	4.67%	3.00%	6.60%	5.87%	4.74%
Return on Equity (ROE)	2.24%	2.73%	4.87%	5.47%	6.61%	7.91%	5.88%	3.78%	8.31%	7.30%	5.86%
Cash Return on Invested Capital (CROIC)	4.23%	-13.45%	-14.33%	-16.92%	-11.02%	-12.97%	-15.13%	-8.45%	-10.95%	-15.60%	-4.46%
Operating Return on Assets (OROA)	0.68%	0.63%	1.16%	1.36%	1.58%	1.79%	1.00%	0.87%	1.77%	1.28%	1.13%
Return on Assets (ROA)	0.41%	0.51%	0.82%	0.92%	1.13%	1.32%	0.90%	0.59%	1.29%	1.07%	0.85%
Return on Common Equity (ROCE)	2.22%	2.70%	4.83%	5.43%	6.57%	7.84%	5.83%	3.75%	8.26%	7.25%	5.83%
Return on Equity Simple (ROE_SIMPLE)	3.43%	0.00%	2.96%	4.41%	5.60%	0.00%	6.83%	6.14%	6.65%	0.00%	6.64%
Net Operating Profit after Tax (NOPAT)	54	70	164	155	175	219	137	91	243	216	159
NOPAT Margin	4.56%	5.88%	9.45%	9.34%	10.38%	11.18%	8.59%	5.59%	11.84%	10.42%	7.90%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.02%	0.00%	-0.02%	-0.01%	0.00%	0.00%	0.00%	0.01%	0.00%
SG&A Expenses to Revenue	70.71%	68.22%	66.17%	66.12%	66.78%	63.31%	67.99%	68.02%	66.06%	66.37%	67.18%
Operating Expenses to Revenue	92.30%	92.71%	87.33%	86.25%	84.99%	84.42%	90.52%	91.75%	83.79%	87.76%	89.48%
Earnings before Interest and Taxes (EBIT)	91	87	220	228	253	305	151	135	332	253	212
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	117	116	264	277	301	361	184	190	388	311	254
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.78	0.75	0.88	0.98	1.21	1.59	1.34	0.97	1.28	1.12	0.86
Price to Tangible Book Value (P/TBV)	0.95	0.92	1.08	1.21	1.48	1.94	1.63	1.18	1.56	1.36	1.03
Price to Revenue (P/Rev)	1.53	1.54	1.67	1.68	1.94	2.30	1.98	1.45	1.85	1.62	1.18
Price to Earnings (P/E)	22.70	27.50	30.82	23.33	22.93	24.16	21.07	16.89	20.69	18.82	13.93
Dividend Yield	4.37%	3.49%	2.94%	2.62%	2.11%	1.65%	2.11%	3.11%	2.39%	2.78%	3.60%
Earnings Yield	4.41%	3.64%	3.24%	4.29%	4.36%	4.14%	4.75%	5.92%	4.83%	5.31%	7.18%
Enterprise Value to Invested Capital (EV/IC)	0.72	0.71	0.78	0.74	0.79	0.85	0.82	0.76	0.82	0.76	0.73
Enterprise Value to Revenue (EV/Rev)	6.02	6.38	6.78	6.09	5.93	5.93	6.33	5.74	6.02	6.05	5.28
Enterprise Value to EBITDA (EV/EBITDA)	49.20	64.06	64.63	45.40	38.81	34.69	38.84	38.04	38.74	41.38	35.90
Enterprise Value to EBIT (EV/EBIT)	64.37	84.58	83.88	56.10	47.20	41.52	46.58	46.72	47.16	50.97	44.00
Enterprise Value to NOPAT (EV/NOPAT)	89.30	114.20	117.49	79.27	65.93	58.61	63.68	63.39	63.11	64.68	57.85
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	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	16.62	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	3.25	3.32	3.55	3.75	3.64	3.79	4.16	4.01	4.06	4.46	4.27
Long-Term Debt to Equity	1.35	1.32	1.42	1.65	1.70	1.79	1.91	1.94	2.02	2.00	2.08
Financial Leverage	3.20	2.91	3.25	3.40	3.45	3.56	3.86	3.88	3.86	4.13	4.22
Leverage Ratio	5.53	5.39	5.74	5.92	6.00	6.10	6.51	6.41	6.43	6.73	6.91
Compound Leverage Factor	5.53	5.39	5.74	5.92	6.00	6.10	6.51	6.41	6.43	6.73	6.91
Debt to Total Capital	76.49%	76.87%	78.03%	78.94%	78.47%	79.14%	80.63%	80.06%	80.24%	81.67%	81.02%
Short-Term Debt to Total Capital	44.71%	46.27%	46.75%	44.11%	41.83%	41.90%	43.72%	41.39%	40.36%	44.95%	41.48%
Long-Term Debt to Total Capital	31.78%	30.60%	31.29%	34.83%	36.64%	37.24%	36.91%	38.67%	39.88%	36.72%	39.54%
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	0.16%	0.22%	0.20%	0.16%	0.15%	0.14%	0.12%	0.15%	0.12%	0.12%	0.09%
Common Equity to Total Capital	23.35%	22.91%	21.77%	20.90%	21.39%	20.72%	19.25%	19.79%	19.64%	18.21%	18.89%
Debt to EBITDA	52.57	69.65	64.85	48.18	38.47	32.24	38.07	40.23	37.96	44.20	39.83
Net Debt to EBITDA	36.54	48.40	48.55	32.76	26.02	21.20	26.63	28.35	26.77	30.25	27.82
Long-Term Debt to EBITDA	21.84	27.73	26.00	21.26	17.96	15.17	17.42	19.43	18.87	19.87	19.44
Debt to NOPAT	95.43	124.16	117.90	84.13	65.35	54.46	62.41	67.05	61.85	69.08	64.18
Net Debt to NOPAT	66.32	86.27	88.27	57.20	44.19	35.81	43.66	47.25	43.62	47.28	44.84
Long-Term Debt to NOPAT	39.65	49.43	47.27	37.12	30.51	25.63	28.57	32.39	30.74	31.06	31.32
Noncontrolling Interest Sharing Ratio	0.73%	1.42%	0.74%	0.75%	0.69%	0.81%	0.76%	0.76%	0.64%	0.65%	0.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,510	-5,517	-6,120	-7,625	-5,267	-6,422	-7,955	-4,726	-5,928	-8,824	-2,986
Operating Cash Flow to CapEx	-1,627.90%	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%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-7.52	-8.87	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	-1.60	0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-1.72	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.09	0.09	0.09	0.10	0.11	0.12	0.11	0.11	0.11	0.10	0.11
Fixed Asset Turnover	5.36	4.77	5.14	5.46	5.81	6.22	5.94	5.63	5.82	6.02	6.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	41,534	42,381	44,925	47,250	46,976	49,021	53,017	52,067	53,147	58,061	56,163
Invested Capital Turnover	0.12	0.12	0.12	0.13	0.14	0.15	0.14	0.14	0.14	0.14	0.14
Increase / (Decrease) in Invested Capital	-1,456	5,587	6,284	7,780	5,442	6,641	8,092	4,817	6,171	9,040	3,145
Enterprise Value (EV)	29,727	29,965	34,935	35,139	37,188	41,750	43,614	39,408	43,515	44,398	41,013
Market Capitalization	7,581	7,235	8,601	9,703	12,192	16,171	13,643	9,957	13,377	11,873	9,177
Book Value per Share	$43.90	$46.14	$46.12	$46.57	$48.89	$49.42	$49.51	$49.96	$50.60	$51.26	$51.34
Tangible Book Value per Share	$36.03	$37.36	$37.52	$37.97	$39.97	$40.53	$40.66	$41.03	$41.68	$42.36	$42.99
Total Capital	41,534	42,381	44,925	47,250	46,976	49,021	53,017	52,067	53,147	58,061	56,163
Total Debt	31,769	32,578	35,057	37,297	36,860	38,796	42,748	41,685	42,645	47,418	45,500
Total Long-Term Debt	13,200	12,969	14,056	16,457	17,211	18,254	19,567	20,135	21,195	21,323	22,206
Net Debt	22,079	22,637	26,246	25,358	24,927	25,510	29,906	29,373	30,075	32,457	31,785
Capital Expenditures (CapEx)	30	-79	96	49	36	70	50	44	58	56	65
Net Nonoperating Expense (NNE)	0.00	0.00	7.89	-0.04	-6.36	-5.16	0.00	0.00	0.00	4.37	0.00
Net Nonoperating Obligations (NNO)	31,769	32,578	35,057	37,297	36,860	38,796	42,748	41,685	42,645	47,418	45,500
Total Depreciation and Amortization (D&A)	25	29	44	50	48	56	33	55	56	57	41
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.22	$0.29	$0.68	$0.66	$0.78	$0.96	$0.60	$0.41	$1.04	$0.88	$0.72
Adjusted Weighted Average Basic Shares Outstanding	210.43M	232.61M	212.04M	219.97M	214.45M	217.08M	214.54M	215.10M	215.29M	215.10M	215.71M
Adjusted Diluted Earnings per Share	$0.22	$0.29	$0.66	$0.64	$0.75	$0.94	$0.57	$0.40	$1.01	$0.85	$0.70
Adjusted Weighted Average Diluted Shares Outstanding	210.43M	236.62M	212.04M	226.15M	221.70M	223.65M	222.45M	221.90M	222.72M	222.75M	223.27M
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	210.43M	211.94M	212.04M	205.49M	205.50M	206.09M	206.26M	206.28M	206.28M	206.69M	204.43M
Normalized Net Operating Profit after Tax (NOPAT)	54	70	164	155	175	219	137	91	243	216	159
Normalized NOPAT Margin	4.56%	5.88%	9.45%	9.34%	10.38%	11.18%	8.59%	5.59%	11.84%	10.42%	7.90%
Pre Tax Income Margin	7.70%	7.29%	12.67%	13.75%	15.01%	15.58%	9.48%	8.25%	16.21%	12.24%	10.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.27	0.26	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.20	0.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.15	0.21	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.08	0.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	83.19%	106.18%	96.64%	64.24%	51.79%	42.31%	46.78%	55.31%	52.14%	54.85%	53.11%
Augmented Payout Ratio	169.20%	170.74%	152.46%	75.35%	60.41%	48.50%	55.05%	64.45%	60.56%	63.43%	78.16%

Financials Breakdown Chart

Key Financial Trends

Jefferies Financial Group (NYSE:JEF) showed a sharp rebound in Q1 2026 profitability, but cash flow was weak and the balance sheet remained highly levered. Revenue and earnings improved versus the immediately prior quarter, yet operating cash flow turned deeply negative, largely because of a large swing in operating assets and liabilities. Over the last few years, Jefferies has generally grown its asset base and maintained strong liquidity, but the business remains very dependent on market-driven, non-interest income and heavy debt financing.

Q1 2026 revenue improved to $2.02 billion from $2.07 billion in Q4 2025, while still staying above most quarters in the 2024–2025 period.
Q1 2026 net income was solid at $159.3 million, with diluted EPS of $0.70, down from Q4 2025 but still profitable.
Pre-tax income expanded to $212.2 million in Q1 2026 from $253.2 million in Q4 2025, indicating the company remained profitable before tax despite higher expenses.
Balance sheet equity continued to grow over the long term, with total equity and noncontrolling interests reaching $10.66 billion in Q1 2026 versus $9.81 billion in Q1 2024.
Cash and due from banks remained high at $11.96 billion in Q1 2026, supporting near-term liquidity.
Net cash from financing activities was positive at $627.1 million in Q1 2026, helping offset weak operating cash flow.
Jefferies remains a market-sensitive business: revenue is almost entirely non-interest income, so quarterly results can swing with trading, advisory, and capital markets activity.
Debt is still a major funding source, with short-term debt of $23.3 billion and long-term debt of $22.2 billion in Q1 2026.
Book value has been fairly stable over the past year, with common equity near $10.6 billion in Q1 2026 versus $10.3 billion in Q2 2025.
Operating cash flow was deeply negative in Q1 2026 at -$1.74 billion, a major deterioration from positive cash flow in Q4 2025.
The biggest cash drag was working capital: changes in operating assets and liabilities consumed $2.16 billion in the quarter.
Net change in cash and equivalents was negative by $1.24 billion in Q1 2026, despite positive financing inflows.
Leverage remains elevated, with total liabilities of $63.7 billion versus total equity of $10.7 billion.
Interest and debt costs are significant, with cash interest paid of $831.3 million in Q1 2026, limiting financial flexibility.

Bottom line: Jefferies is still generating profits, and Q1 2026 looked better on an earnings basis than the most recent quarter. But the company’s cash flow profile was much weaker, and its balance sheet remains debt-heavy. For retail investors, that means JEF still looks like a cyclical financial-services name where earnings can recover quickly, but cash flow and leverage deserve close attention.

06/14/26 10:06 PM ETAI Generated. May Contain Errors.

Jefferies Financial Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Jefferies Financial Group's fiscal year ends in November. Their fiscal year 2025 ended on November 30, 2025.

Jefferies Financial Group's net income appears to be on an upward trend, with a most recent value of $682.05 million in 2025, rising from $199.03 million in 2014. The previous period was $716.02 million in 2024. See where experts think Jefferies Financial Group is headed by visiting Jefferies Financial Group's forecast page.

Over the last 10 years, Jefferies Financial Group's total revenue changed from $11.49 billion in 2014 to $7.34 billion in 2025, a change of -36.1%.

Jefferies Financial Group's total liabilities were at $65.37 billion at the end of 2025, a 20.8% increase from 2024, and a 82.3% increase since 2015.

In the past 10 years, Jefferies Financial Group's cash and equivalents has ranged from $3.64 billion in 2015 to $14.04 billion in 2025, and is currently $14.04 billion as of their latest financial filing in 2025.

Over the last 10 years, Jefferies Financial Group's book value per share changed from 27.96 in 2014 to 51.26 in 2025, a change of 83.3%.

Related Companies

Financial statements for NYSE:JEF last updated on 4/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Jefferies Financial Group (JEF) Financials

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Jefferies Financial Group (JEF) Financials

Annual Income Statements for Jefferies Financial Group

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Quarterly Balance Sheets for Jefferies Financial Group

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Quarterly Metrics And Ratios for Jefferies Financial Group

Financials Breakdown Chart

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