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US investment bank providing M&A advisory, capital markets underwriting and securities trading services.
US investment bank providing M&A advisory, capital markets underwriting and securities trading services.
Earns fees for advising on deals and underwriting securities, plus commissions and trading spreads on trades for institutional clients, so earnings swing with deal markets. It began as Leucadia National Corporation, a holding company that bought Jefferies in 2013 and took its name in 2018. Japan's Sumitomo Mitsui Financial Group is a strategic partner and shareholder.
Moat: none (brand). A mid-tier full-service investment bank without the scale advantages of bulge-bracket rivals.
Headquarters: New York, New York, US · Founded: 1962 · Employees: 7,787
Size Jefferies Financial (JEF) is a United States Financials company (Investment Banks/Brokers) with a market value of $10.9B, the 740th largest of 3,117 United States companies the cockpit tracks. Shares closed at $47.38 on 6 Nov 2026.
Performance Over six months the shares fell 10.6%, against -0.5% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 26.5% over the last twelve months (peer median +13.8%); the operating margin is 41.4% (peer median 38.9%).
Valuation It trades at 11.3× forward earnings against a peer median of 11.3× (11th cheapest of 21).
Credit Jefferies Financial has 17 bonds outstanding ($12.7B), rated BBB by the agencies and trading like BB+ at a weighted spread of 151 bp.
Short interest Short interest is 4.1% of the free float (15 Oct 2026).
Next results Next results expected around 13 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.5B | $8.94B | $10.6B | $7.23B | $7.53B |
| Revenue growth | — | -16% | +47% | -4% | — |
| Gross profit | $10.4B | $7.97B | $9.71B | $6.66B | $6.51B |
| EBITDA | $4.95B | $4.50B | $4.65B | $3.10B | $2.42B |
| Net income | $893M | $631M | $666M | $276M | $782M |
| Free cash flow | $6.07B | $5.27B | $87.9M | -$167M | -$150M |
| Capital expenditure | $218M | $207M | $251M | $1.16M | $224M |
| Total debt | $39.7B | $35.8B | $31.7B | $25.4B | $20.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Jefferies Financial JEF | $10.9B | -11% | +26% | 41% | 11.3× | n/a |
| Goldman Sachs GS | $250B | -8% | +12% | 40% | 12.0× | n/a |
| Morgan Stanley MS | $285B | -6% | +16% | 33% | 13.6× | n/a |
| Evercore EVR | $10.9B | -17% | +37% | 22% | 14.2× | n/a |
| Houlihan Lokey HLI | $10.1B | -5% | 0% | 20% | 18.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | JEF | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.7% | +1.7% | 5th highest of 21 |
| 6-month return | -10.6% | -0.5% | 8th lowest of 21 |
| Distance from 52-week high | -28.9% | -20.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +26.5% | +13.8% | 7th highest of 21 |
| Operating margin | 41.4% | 38.9% | 10th highest of 21 |
| Forward P/E | 11.3× | 11.3× | 11th cheapest of 21 |
| Bond spread | 151 bp | 121 bp | 2nd widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jefferies Financial JEF | United States | $10.9B | -11% | +26% | 41% | 11.3× | n/a | n/a |
| Evercore EVR | United States | $10.9B | -17% | +37% | 22% | 14.2× | n/a | n/a |
| Freedom FRHC | United States | $11.4B | +28% | +8% | 29% | 39.7× | n/a | n/a |
| Houlihan Lokey HLI | United States | $10.1B | -5% | 0% | 20% | 18.0× | n/a | n/a |
| Orient Securities 3958.HK | Hong Kong | $10.1B | -13% | +21% | 40% | 5.9× | n/a | n/a |
| TMX X.TO | Canada | $12.1B | +10% | +4% | 28% | 22.8× | n/a | n/a |
| Multi Commodity Exchange of India MCX.NS | India | $9.51B | +16% | +122% | 79% | 50.8× | n/a | n/a |
| ASX ASX.AX | Australia | $9.02B | +15% | +3% | 65% | 24.2× | n/a | n/a |
| Japan Exchange 8697.T | Japan | $13.4B | +11% | +40% | 61% | 19.7× | n/a | n/a |
| Nordnet SAVE.ST | Sweden | $8.70B | +13% | +11% | 58% | 23.7× | n/a | n/a |
| Everbright Securities 601788.SS | China | $8.70B | -9% | -4% | 36% | 14.6× | n/a | n/a |
| Futu Holdings Ltd. Sponsored ADR FUTU | United States | $13.7B | -32% | +44% | 69% | 6.8× | n/a | n/a |
| Founder Securities 601901.SS | China | $8.52B | -4% | -21% | 47% | 11.7× | n/a | n/a |
| Daiwa Securities 8601.T | Japan | $14.0B | +11% | +18% | 17% | 10.8× | n/a | n/a |
| Virtu Financial VIRT | United States | $8.37B | +5% | +28% | 38% | 7.8× | n/a | n/a |
| XP Inc. Class A XP | United States | $7.83B | -21% | +17% | 32% | 6.7× | n/a | n/a |
| Shenwan Hongyuan 6806.HK | Hong Kong | $15.4B | -26% | -22% | 31% | 4.5× | n/a | n/a |
| Mirae Asset Sec 006800.KS | South Korea | $7.57B | -66% | +5% | 114% | 4.0× | n/a | n/a |
| China Galaxy Securities 6881.HK | Hong Kong | $15.7B | -20% | +17% | 55% | 4.6× | n/a | n/a |
| Meritz Financial 138040.KS | South Korea | $15.7B | +18% | +31% | 49% | 8.6× | n/a | n/a |
| Investec INVP.L | United Kingdom | $7.34B | +3% | -4% | 37% | 7.1× | n/a | n/a |
Jefferies Financial has 17 bonds outstanding with $12.7B face value. The agencies rate it BBB; its bonds trade like BB+. Weighted yield 5.88%, a spread of 151 bp over government bonds.