Jefferies Financial (JEF)
Market Price (5/19/2026): $51.85 | Market Cap: $11.2 BilSector: Financials | Industry: Multi-Sector Holdings
Jefferies Financial (JEF)
Market Price (5/19/2026): $51.85Market Cap: $11.2 BilSector: FinancialsIndustry: Multi-Sector Holdings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 42% Low stock price volatilityVol 12M is 41% Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Sustainable Finance. Themes include Private Equity, Private Credit, Show more. | Weak multi-year price returns2Y Excs Rtn is -22% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 124% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.1% Key risksJEF key risks include [1] substantial financial exposure to the First Brands Group bankruptcy and associated regulatory investigations, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 42% |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Sustainable Finance. Themes include Private Equity, Private Credit, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -22% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 124% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.1% |
| Key risksJEF key risks include [1] substantial financial exposure to the First Brands Group bankruptcy and associated regulatory investigations, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Jefferies Financial Group reported a miss on diluted earnings per share for the first quarter of 2026.
The company announced Q1 2026 diluted earnings per share of $0.70, which fell short of the consensus estimate of $0.89 by $0.19. Although total net revenues increased 26.6% year-over-year to $2.02 billion, this figure was below some analysts' expectations, with one source indicating a miss by approximately $73 million. While investment banking net revenues were strong, increasing 40% to $1.01 billion, the firm's fixed income net revenues decreased compared to the prior year quarter. Additionally, the net earnings for the quarter included a $36 million non-cash, after-tax write-down of goodwill.
2. Geopolitical instability and persistent inflationary pressures contributed to broader market headwinds.
The first quarter of 2026 was marked by increased global economic uncertainty due to geopolitical tensions, notably the Iran-Israel-US conflict that began in late February. This conflict introduced "extraordinary volatility" across energy, equity, and fixed income markets. Brent crude oil prices surged by 73%, with West Texas Intermediate also surpassing $100 a barrel, fueling renewed inflation concerns. This environment prompted central banks to adopt a more cautious stance, delaying anticipated monetary policy easing and contributing to a "potentially prolonged higher-rate environment," which generally negatively impacts financial sector performance.
Show more
Stock Movement Drivers
Fundamental Drivers
The -14.0% change in JEF stock from 1/31/2026 to 5/18/2026 was primarily driven by a -17.5% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 60.26 | 51.85 | -14.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10,824 | 11,222 | 3.7% |
| Net Income Margin (%) | 6.6% | 6.6% | 0.7% |
| P/E Multiple | 18.3 | 15.1 | -17.5% |
| Shares Outstanding (Mil) | 215 | 216 | -0.1% |
| Cumulative Contribution | -14.0% |
Market Drivers
1/31/2026 to 5/18/2026| Return | Correlation | |
|---|---|---|
| JEF | -14.0% | |
| Market (SPY) | 7.0% | 59.8% |
| Sector (XLF) | -2.7% | 55.6% |
Fundamental Drivers
The 0.4% change in JEF stock from 10/31/2025 to 5/18/2026 was primarily driven by a 4.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.66 | 51.85 | 0.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10,726 | 11,222 | 4.6% |
| Net Income Margin (%) | 6.8% | 6.6% | -2.5% |
| P/E Multiple | 15.3 | 15.1 | -1.4% |
| Shares Outstanding (Mil) | 215 | 216 | -0.2% |
| Cumulative Contribution | 0.4% |
Market Drivers
10/31/2025 to 5/18/2026| Return | Correlation | |
|---|---|---|
| JEF | 0.4% | |
| Market (SPY) | 8.9% | 60.1% |
| Sector (XLF) | -0.3% | 58.0% |
Fundamental Drivers
The 15.1% change in JEF stock from 4/30/2025 to 5/18/2026 was primarily driven by a 12.8% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.05 | 51.85 | 15.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10,436 | 11,222 | 7.5% |
| Net Income Margin (%) | 6.9% | 6.6% | -4.6% |
| P/E Multiple | 13.4 | 15.1 | 12.8% |
| Shares Outstanding (Mil) | 215 | 216 | -0.5% |
| Cumulative Contribution | 15.1% |
Market Drivers
4/30/2025 to 5/18/2026| Return | Correlation | |
|---|---|---|
| JEF | 15.1% | |
| Market (SPY) | 34.7% | 60.0% |
| Sector (XLF) | 7.8% | 63.8% |
Fundamental Drivers
The 77.9% change in JEF stock from 4/30/2023 to 5/18/2026 was primarily driven by a 59.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.14 | 51.85 | 77.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,017 | 11,222 | 59.9% |
| Net Income Margin (%) | 8.4% | 6.6% | -21.6% |
| P/E Multiple | 11.8 | 15.1 | 28.0% |
| Shares Outstanding (Mil) | 239 | 216 | 10.8% |
| Cumulative Contribution | 77.9% |
Market Drivers
4/30/2023 to 5/18/2026| Return | Correlation | |
|---|---|---|
| JEF | 77.9% | |
| Market (SPY) | 84.5% | 66.6% |
| Sector (XLF) | 63.7% | 72.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| JEF Return | 62% | -8% | 28% | 99% | -19% | -15% | 162% |
| Peers Return | 40% | -14% | 25% | 47% | 38% | 0% | 204% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| JEF Win Rate | 67% | 33% | 58% | 83% | 58% | 40% | |
| Peers Win Rate | 67% | 42% | 52% | 68% | 73% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| JEF Max Drawdown | -18% | -35% | -26% | -11% | -49% | -45% | |
| Peers Max Drawdown | -14% | -36% | -23% | -13% | -31% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GS, MS, JPM, BAC, EVR. See JEF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/18/2026 (YTD)
How Low Can It Go
| Event | JEF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -40.9% | -18.8% |
| % Gain to Breakeven | 69.2% | 23.1% |
| Time to Breakeven | 163 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.5% | -9.5% |
| % Gain to Breakeven | 15.6% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.5% | -6.7% |
| % Gain to Breakeven | 36.0% | 7.1% |
| Time to Breakeven | 224 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.2% | -24.5% |
| % Gain to Breakeven | 47.5% | 32.4% |
| Time to Breakeven | 162 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.9% | -33.7% |
| % Gain to Breakeven | 95.9% | 50.9% |
| Time to Breakeven | 202 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.9% | -19.2% |
| % Gain to Breakeven | 34.9% | 23.8% |
| Time to Breakeven | 330 days | 105 days |
In The Past
Jefferies Financial's stock fell -40.9% during the 2025 US Tariff Shock. Such a loss loss requires a 69.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | JEF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -40.9% | -18.8% |
| % Gain to Breakeven | 69.2% | 23.1% |
| Time to Breakeven | 163 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.5% | -6.7% |
| % Gain to Breakeven | 36.0% | 7.1% |
| Time to Breakeven | 224 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.2% | -24.5% |
| % Gain to Breakeven | 47.5% | 32.4% |
| Time to Breakeven | 162 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.9% | -33.7% |
| % Gain to Breakeven | 95.9% | 50.9% |
| Time to Breakeven | 202 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.9% | -19.2% |
| % Gain to Breakeven | 34.9% | 23.8% |
| Time to Breakeven | 330 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -37.6% | -12.2% |
| % Gain to Breakeven | 60.2% | 13.9% |
| Time to Breakeven | 280 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -40.4% | -6.8% |
| % Gain to Breakeven | 67.8% | 7.3% |
| Time to Breakeven | 350 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -39.3% | -17.9% |
| % Gain to Breakeven | 64.7% | 21.8% |
| Time to Breakeven | 3418 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -28.1% | -15.4% |
| % Gain to Breakeven | 39.0% | 18.2% |
| Time to Breakeven | 125 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -77.7% | -53.4% |
| % Gain to Breakeven | 348.1% | 114.4% |
| Time to Breakeven | 4555 days | 1085 days |
In The Past
Jefferies Financial's stock fell -40.9% during the 2025 US Tariff Shock. Such a loss loss requires a 69.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Jefferies Financial (JEF)
AI Analysis | Feedback
Imagine a company operating in investment banking, capital markets, and asset management, much like the institutional divisions of Goldman Sachs or Morgan Stanley.
AI Analysis | Feedback
- Investment Banking Advisory: Provides advisory services for mergers, acquisitions, restructurings, recapitalizations, and private capital transactions.
- Underwriting and Corporate Lending: Facilitates equity and debt underwriting and offers corporate lending services.
- Sales and Trading: Executes trades in equities, a wide array of fixed income products, derivatives, and foreign exchange for clients.
- Prime Brokerage and Financing: Offers securities lending, financing, and other prime brokerage services to institutional clients.
- Asset Management: Manages, invests in, and provides services to various alternative asset management platforms across different strategies and asset classes.
- Wealth Management: Delivers financial advisory and wealth management services to clients.
- Research: Provides equities research and finance services.
AI Analysis | Feedback
Jefferies Financial Group Inc. (JEF) primarily serves other companies and institutional clients across its investment banking, capital markets, and asset management businesses. Due to the nature of its diversified financial services model, Jefferies does not typically have a small, identifiable list of named "major customers" in the traditional sense, but rather serves a broad and diverse client base within specific categories.
The major customer categories that Jefferies Financial Group Inc. serves include:
- Corporations: These clients engage Jefferies for a range of investment banking services, including advisory for mergers and acquisitions (M&A), restructurings, private capital transactions, equity and debt underwriting for capital raising, and corporate lending. These corporations span various industries and sizes.
- Institutional Investors: This category encompasses a wide array of financial institutions such as hedge funds, mutual funds, pension funds, asset management firms, insurance companies, and sovereign wealth funds. They utilize Jefferies for services like prime brokerage, sales and trading of diverse financial products (e.g., bonds, equities, derivatives), and financial research.
- Government and Municipal Entities: Jefferies also provides services, such as underwriting and distributing government and municipal bonds, to various governmental bodies.
In addition to these corporate and institutional clients, Jefferies also offers wealth management services to high-net-worth individuals and families.
AI Analysis | Feedback
NULLAI Analysis | Feedback
Richard Handler, Chief Executive Officer
Richard Handler has served as CEO of Jefferies since 2001, making him the longest-serving CEO on Wall Street. He also became Chairman in 2002. Mr. Handler joined Jefferies in 1990 as a salesman and trader, and prior to that, he worked in investment banking at First Boston and in high-yield bonds at Drexel Burnham Lambert. He played a key role in the merger of Jefferies with Leucadia National Corporation in 2013, subsequently becoming CEO of both entities. In 2018, Leucadia rebranded as Jefferies Financial Group Inc. Mr. Handler owns more than 7% of the company's stock.
Matthew Larson, Executive Vice President and Chief Financial Officer
Matthew Larson became Executive Vice President, Chief Financial Officer, and Principal Financial Officer of Jefferies Financial Group in March 2023, having previously served as CFO of Jefferies Group from August 2020 to November 2022. Before joining Jefferies, Mr. Larson was the Chief Financial Officer of Barclays Americas and also held the role of CFO of Barclays PLC's Global Markets business. Earlier in his career, he was a Managing Director in the Finance Division at Goldman Sachs, where he held several senior finance roles. He is a Certified Public Accountant.
Brian Friedman, President
Brian Friedman joined Jefferies Financial Group in 2001 and serves as President, leading group strategy, principal investments, and long-term planning. He was previously Chairman of the Board at Telex Communications and STRIVE International, and was Founder and President of Jefferies Capital Partners. Mr. Friedman holds a Master of Science in Accounting and a Juris Doctor.
Michael Sharp, Executive Vice President and General Counsel
Michael Sharp serves as Executive Vice President and General Counsel of Jefferies Group. In this role, he is responsible for overseeing the company's legal matters and global regulatory risk.
Christopher M. Kanoff, Executive Vice President, Co-Head of Investment Banking Group
Christopher M. Kanoff is an Executive Vice President in Jefferies' Los Angeles office and Co-Head of the firm's Investment Banking Group. He joined Jefferies in 1991 and is also a member of the Executive Committee.
AI Analysis | Feedback
The key risks to Jefferies Financial Group Inc. (JEF) primarily stem from its exposure to legal and credit challenges, inherent market volatility within its investment banking and capital markets operations, and the pervasive regulatory and compliance landscape.
- Legal and Credit Risks, particularly from concentrated exposures: Jefferies Financial Group is currently facing significant legal and credit risks, notably highlighted by a lawsuit from Western Alliance regarding an alleged breach of a forbearance agreement related to First Brands loans. First Brands' bankruptcy in September 2025 has intensified these concerns, leading to downgrades by analysts and a decline in Jefferies' stock price. The firm's asset management fund's approximate $715 million in receivables linked to First Brands, along with the disclosed debt exceeding initial figures, has undermined investor confidence and raised questions about Jefferies' lending standards and risk appetite.
- Market Risk and Volatility: As a global investment banking and capital markets firm, Jefferies is inherently exposed to significant market risk. This includes the potential for losses due to adverse changes in market conditions such as fluctuations in interest rates, equity prices, foreign exchange rates, and commodity prices. Increased market volatility can negatively impact transaction activity in its investment banking and sales and trading businesses, affecting revenues from commissions, spreads, and the value of securities held in inventory or as investments.
- Regulatory and Compliance Risks: Jefferies operates within a highly regulated financial services industry, subjecting it to extensive U.S. and international regulations, capital, and liquidity requirements. The risk of non-compliance with these evolving regulations can lead to substantial legal penalties, financial losses, and significant reputational damage. The regulatory environment is constantly changing, often in response to economic events or market crises, requiring the firm to continuously adapt its practices, which can incur additional costs and operational complexities.
AI Analysis | Feedback
Artificial Intelligence (AI) and Automation: The rapid advancement and adoption of artificial intelligence and machine learning technologies pose an emerging threat by automating tasks traditionally performed by human analysts, traders, and advisors. AI-driven platforms can conduct extensive due diligence, perform market analysis, optimize trade execution, and manage portfolios with increasing sophistication. This could lead to fee compression, a reduction in demand for certain human-intensive services, and the disintermediation of various aspects of Jefferies' investment banking, capital markets, and wealth management operations.
Decentralized Finance (DeFi): The rise of blockchain-based decentralized finance protocols represents an emerging threat by offering alternative infrastructure for financial services. DeFi platforms aim to disintermediate traditional financial institutions by enabling peer-to-peer lending, borrowing, trading, and asset management directly through smart contracts, bypassing traditional intermediaries. While still in early stages and facing regulatory challenges, the long-term potential for DeFi to provide more efficient and transparent alternatives for capital formation, trading, and asset servicing could challenge Jefferies' traditional business models in capital markets and investment banking.
AI Analysis | Feedback
Jefferies Financial Group Inc. operates in significant global financial markets, including investment banking, capital markets, and asset management. The addressable markets for its main products and services are substantial across the regions where it operates.
Investment Banking
- The global investment banking market was valued at approximately USD 111.0 billion in 2024 and is projected to reach USD 221.89 billion by 2033.
- In North America, the investment banking market was valued at USD 54.048 billion in 2024 and is expected to grow at a CAGR of 6.8% from 2024 to 2031.
- The European investment banking market was estimated at USD 46.23 billion in 2024 and is projected to reach USD 117.89 billion by 2035. Another source states the European investment banking market was valued at USD 107.6 billion in 2025 and is projected to reach USD 130.9 billion by 2033.
- The Asia Pacific investment banking market held approximately 23% of the global revenue with a market size of USD 31.077 billion in 2024 and is expected to grow at a CAGR of 10.6% from 2024 to 2031.
- The Middle East & Africa investment banking market size is expected to stand at USD 1.89 billion in 2025.
Capital Markets
Jefferies' capital markets activities, including equity and debt underwriting and trading, are integral to the broader capital markets. Directly sizing the entire 'capital markets' as a single entity is complex, as it encompasses various instruments and activities. However, related market sizes include:
- European bond market capitalization stands at more than €30 trillion.
- In 2024, Asia's public equity market capitalization quadrupled to USD 34.4 trillion. Asia accounted for 27% of total global market capitalization in 2024.
- Europe's equity capital market capitalization, as a share of GDP, was 66% in 2022. The EU's equity market capitalization was 62% of GDP in 2025, while the US was 208% and Japan was 163%.
Asset Management
- The global asset management market size was valued at USD 469 billion in 2024 and is projected to grow to USD 6 trillion by 2034. Another report states the global asset management market size was valued at USD 432.77 billion in 2025 and is projected to reach USD 1,122.04 billion by 2034.
- The North America asset management market accounted for 36% of the revenue share in 2024. The U.S. asset management market generated USD 115.630 billion in revenue in 2023 and is expected to reach USD 849.248 billion by 2030. North America dominated the market with a 47.00% share in 2025.
- The Europe asset management market is expected to grow from USD 35.38 trillion in 2025 to USD 62.37 trillion by 2031. Another estimate for the Europe asset management market size was USD 6.61 billion in 2025, projected to reach USD 22.78 billion by 2034. Total assets under management in Europe amounted to EUR 30 trillion at the end of 2023.
- The Asia Pacific asset management market generated USD 139.784 billion in revenue in 2023 and is expected to reach USD 1,210.058 billion by 2030. Asia's public and private market asset base reached a record USD 63.5 trillion in March 2025.
AI Analysis | Feedback
Jefferies Financial (JEF) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Sustained Growth and Market Share Expansion in Investment Banking and Capital Markets: Jefferies anticipates continued momentum in its core Investment Banking and Capital Markets segment. This includes robust performance in advisory services, equity underwriting, and debt underwriting. The company has demonstrated a strong ability to gain market share in mergers and acquisitions (M&A) activities and increase transaction volumes across global markets.
- Strategic Expansion into Emerging Markets and Sustainable Finance: The company is actively pursuing growth by expanding into crucial emerging markets, notably through sustainable finance initiatives. This strategic focus aligns with global trends, presenting significant opportunities for market share increase and expansion in sectors like energy transition, including solar, wind, and battery storage.
- Investment in Technological Advancements and Digital Transformation: Jefferies is committed to integrating technology and innovation to enhance its service offerings and foster sustained growth. This involves continuous investment in electronic trading platforms, development of equity finance capabilities, and refinement of equity derivative platforms to provide efficient global liquidity and execution for clients.
- Strategic Talent Acquisition and Team Expansion: A significant aspect of Jefferies' growth strategy involves strengthening its human capital by expanding teams in high-demand sectors. This includes recruiting top-tier professionals, such as the planned doubling of its credit secondaries team by the close of 2025, which enhances the firm's competitive edge and fosters innovation.
AI Analysis | Feedback
Share Repurchases
- Jefferies Financial Group Inc. had an authorized share repurchase program of up to $250.0 million as of May 31, 2025, and August 31, 2025.
- In Q4 2025, the company spent $29,000 on share buybacks.
- Between 2017 and 2021, Jefferies returned $3.9 billion to shareholders, including repurchasing 127 million shares at an average price of $21.55 per share.
Share Issuance
- Shareholders approved an Amended and Restated Certificate of Incorporation on June 28, 2023, which authorized the issuance of 35,000,000 shares of non-voting common stock.
- On March 28, 2024, shareholders approved an amendment to the Equity Compensation Plan to increase the number of shares authorized for issuance under the Plan.
Outbound Investments
- On December 1, 2021, Jefferies made a $477 million contribution of net assets, including Merchant Banking and Asset Management investments, to Jefferies Group.
- Jefferies Financial Group Inc. purchased a new position of 9,521 shares in Automatic Data Processing, Inc. (ADP) during the third quarter, valued at approximately $2.79 million.
Capital Expenditures
- Jefferies Financial Group invested $56.0 million in capital expenditures in Q4 2025.
- For the full year 2025, capital expenditures amounted to $207.5 million.
Latest Trefis Analyses
Trade Ideas
Select ideas related to JEF.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | EEFT | Euronet Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04242026 | HOMB | Home BancShares | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.5% | 1.5% | 0.0% |
| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 7.1% | 7.1% | 0.0% |
| 03312026 | NP | Neptune Insurance | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 3.9% | 3.9% | 0.0% |
| 03272026 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -4.0% |
| 02272026 | JEF | Jefferies Financial | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.6% | 8.6% | -18.9% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 246.71 |
| Mkt Cap | 294.1 |
| Rev LTM | 64,610 |
| Op Inc LTM | 4,702 |
| FCF LTM | -2,372 |
| FCF 3Y Avg | -10,207 |
| CFO LTM | -791 |
| CFO 3Y Avg | -8,476 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.7% |
| Rev Chg 3Y Avg | 11.4% |
| Rev Chg Q | 15.2% |
| QoQ Delta Rev Chg LTM | 3.7% |
| Op Inc Chg LTM | -0.2% |
| Op Inc Chg 3Y Avg | 22.3% |
| Op Mgn LTM | 41.9% |
| Op Mgn 3Y Avg | 44.1% |
| QoQ Delta Op Mgn LTM | -0.9% |
| CFO/Rev LTM | -3.3% |
| CFO/Rev 3Y Avg | -20.3% |
| FCF/Rev LTM | -6.4% |
| FCF/Rev 3Y Avg | -24.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 294.1 |
| P/S | 3.8 |
| P/Op Inc | 2.4 |
| P/EBIT | 2.5 |
| P/E | 15.5 |
| P/CFO | -7.4 |
| Total Yield | 6.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -12.0% |
| D/E | 1.2 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.4% |
| 3M Rtn | 1.6% |
| 6M Rtn | 6.8% |
| 12M Rtn | 27.5% |
| 3Y Rtn | 144.6% |
| 1M Excs Rtn | -4.3% |
| 3M Excs Rtn | -6.0% |
| 6M Excs Rtn | -6.4% |
| 12M Excs Rtn | 4.0% |
| 3Y Excs Rtn | 67.4% |
Price Behavior
| Market Price | $51.85 | |
| Market Cap ($ Bil) | 11.2 | |
| First Trading Date | 11/05/1987 | |
| Distance from 52W High | -24.6% | |
| 50 Days | 200 Days | |
| DMA Price | $44.48 | $54.50 |
| DMA Trend | down | down |
| Distance from DMA | 16.6% | -4.9% |
| 3M | 1YR | |
| Volatility | 48.2% | 40.9% |
| Downside Capture | 247.40 | 246.41 |
| Upside Capture | 165.10 | 182.86 |
| Correlation (SPY) | 54.9% | 57.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.44 | 1.57 | 1.97 | 1.90 | 1.98 | 1.61 |
| Up Beta | 1.37 | 1.16 | 1.49 | 1.07 | 1.82 | 1.46 |
| Down Beta | 1.92 | 2.30 | 2.24 | 1.72 | 1.87 | 1.70 |
| Up Capture | 162% | 171% | 157% | 263% | 266% | 500% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 16 | 26 | 33 | 71 | 134 | 412 |
| Down Capture | 182% | 153% | 239% | 197% | 172% | 111% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 6 | 17 | 31 | 54 | 118 | 340 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with JEF | |
|---|---|---|---|---|
| JEF | 0.7% | 40.8% | 0.12 | - |
| Sector ETF (XLF) | 2.5% | 14.5% | -0.05 | 62.4% |
| Equity (SPY) | 26.7% | 12.1% | 1.66 | 57.8% |
| Gold (GLD) | 40.7% | 26.8% | 1.25 | 1.4% |
| Commodities (DBC) | 47.8% | 18.5% | 1.97 | -16.7% |
| Real Estate (VNQ) | 10.8% | 13.4% | 0.52 | 36.0% |
| Bitcoin (BTCUSD) | -23.9% | 41.9% | -0.54 | 33.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with JEF | |
|---|---|---|---|---|
| JEF | 14.5% | 35.9% | 0.46 | - |
| Sector ETF (XLF) | 8.8% | 18.6% | 0.35 | 73.6% |
| Equity (SPY) | 13.8% | 17.1% | 0.64 | 65.7% |
| Gold (GLD) | 19.5% | 17.9% | 0.88 | 1.3% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 8.9% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 50.0% |
| Bitcoin (BTCUSD) | 6.9% | 55.9% | 0.34 | 27.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with JEF | |
|---|---|---|---|---|
| JEF | 16.4% | 35.0% | 0.53 | - |
| Sector ETF (XLF) | 12.8% | 22.2% | 0.53 | 76.2% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 68.5% |
| Gold (GLD) | 13.2% | 15.9% | 0.69 | -3.0% |
| Commodities (DBC) | 8.6% | 17.9% | 0.39 | 21.9% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 53.0% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 19.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/25/2026 | 1.6% | 4.3% | 19.7% |
| 1/7/2026 | -5.6% | -3.4% | -8.9% |
| 9/29/2025 | -1.9% | -8.2% | -16.7% |
| 6/25/2025 | 0.3% | 1.3% | 2.9% |
| 3/26/2025 | -9.9% | -8.5% | -22.4% |
| 1/8/2025 | -10.8% | -7.1% | -8.6% |
| 9/25/2024 | -1.3% | 0.6% | 4.2% |
| 6/26/2024 | 6.3% | 11.0% | 23.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 13 |
| # Negative | 11 | 10 | 11 |
| Median Positive | 2.7% | 4.4% | 13.9% |
| Median Negative | -3.0% | -6.1% | -7.4% |
| Max Positive | 7.1% | 11.0% | 23.8% |
| Max Negative | -10.8% | -12.5% | -22.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/07/2026 | 10-Q |
| 11/30/2025 | 01/28/2026 | 10-K |
| 08/31/2025 | 10/09/2025 | 10-Q |
| 05/31/2025 | 07/09/2025 | 10-Q |
| 02/28/2025 | 04/09/2025 | 10-Q |
| 11/30/2024 | 01/28/2025 | 10-K |
| 08/31/2024 | 10/09/2024 | 10-Q |
| 05/31/2024 | 07/09/2024 | 10-Q |
| 02/29/2024 | 04/05/2024 | 10-Q |
| 11/30/2023 | 01/26/2024 | 10-K |
| 08/31/2023 | 10/06/2023 | 10-Q |
| 05/31/2023 | 07/07/2023 | 10-Q |
| 02/28/2023 | 04/10/2023 | 10-Q |
| 11/30/2022 | 01/27/2023 | 10-K |
| 08/31/2022 | 10/07/2022 | 10-Q |
| 05/31/2022 | 07/08/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.