NYSE: JEF
Jefferies Financial Group Inc.CIK 0000096223 · SIC 6211 · Security Brokers & Dealers
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Jefferies Financial Group files preliminary pricing supplement for autocallable contingent coupon notes linked to worst-performing of three indices
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Jefferies Financial Group prices $1,000 senior autocallable notes linked to worst-performing of three indices
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Jefferies Financial Group prices $1,000-per-note autocallable contingent coupon notes linked to worst-performing of three indices
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Jefferies closes €850M senior notes offering due 2033 at 4.500%
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revenue $3.12B, net income $250.0M. Q2 revenue +25.0% on record advisory; (27.6M ×; filing rounds to (27.6M ×; filing rounds to (27.6M ×; filing rounds to ))) equity offering completed
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Jefferies prices €850M senior notes at 4.500%, due 2033, settling July 15
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Jefferies Financial Group prices structured notes linked to worst-performing of three equity indices
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Jefferies Financial Group prices $1.21 billion structured notes linked to worst performer of EEM and SX5E; investors lose 1% per 1% decline below 30% threshold, up to 100% loss
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Jefferies prices 3.5-year structured notes linked to EURO STOXX 50 with 155% upside leverage, 1-to-1 downside below 75% threshold
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Jefferies reports record Q2 investment banking and equities revenues, $1.02 EPS, 12.8% ROAE
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Latest financial statements
From 10-Q filed Jul 9, 2026 (period ending May 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings (Unaudited)
$ in thousands
| Description | Three months ended May 31, 2026 | Three months ended May 31, 2025 | Six months ended May 31, 2026 | Six months ended May 31, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| Investment banking | 1,209,625 | 789,269 | 2,227,909 | 1,518,779 |
| Principal transactions | 488,666 | 338,507 | 976,164 | 745,737 |
| Commissions and other fees | 400,614 | 353,233 | 768,218 | 641,533 |
| Asset management fees and revenues | 9,788 | 20,076 | 77,150 | 105,484 |
| Interest | 853,962 | 878,025 | 1,667,081 | 1,723,196 |
| Other | 155,542 | 115,205 | 272,940 | 232,450 |
| Total revenues | 3,118,197 | 2,494,315 | 5,989,462 | 4,967,179 |
| Interest expense | 911,746 | 859,868 | 1,765,881 | 1,739,713 |
| Net revenues | 2,206,451 | 1,634,447 | 4,223,581 | 3,227,466 |
| Non-interest expenses | ||||
| Compensation and benefits | 1,188,245 | 854,839 | 2,274,135 | 1,695,966 |
| Brokerage and clearing fees | 147,446 | 129,745 | 280,578 | 239,181 |
| Underwriting costs | 26,858 | 14,525 | 58,241 | 32,371 |
| Technology and communications | 162,860 | 146,198 | 322,718 | 285,673 |
| Occupancy and equipment rental | 34,499 | 30,711 | 68,359 | 60,910 |
| Business development | 89,108 | 80,070 | 164,530 | 152,361 |
| Professional services | 98,707 | 77,768 | 175,651 | 150,234 |
| Depreciation and amortization | 47,328 | 52,253 | 104,193 | 83,241 |
| Cost of sales | 31,253 | 42,961 | 61,173 | 84,529 |
| Other expenses | 64,598 | 70,476 | 186,238 | 157,034 |
| Total non-interest expenses | 1,890,902 | 1,499,546 | 3,695,816 | 2,941,500 |
| Earnings before income taxes | 315,549 | 134,901 | 527,765 | 285,966 |
| Income tax expense | 65,571 | 43,506 | 118,441 | 57,722 |
| Net earnings | 249,978 | 91,395 | 409,324 | 228,244 |
| Net losses attributable to noncontrolling interests | (5,440) | (7,668) | (21,298) | (14,651) |
| Preferred stock dividends | 29,184 | 11,046 | 48,461 | 26,940 |
| Net earnings attributable to common shareholders | 226,234 | 88,017 | 382,161 | 215,955 |
| Earnings per voting common share (1) | ||||
| Basic | 1.05 | 0.41 | 1.75 | 1.01 |
| Diluted | 1.02 | 0.40 | 1.70 | 0.97 |
| Basic weighted-average common shares outstanding | 210,269 | 215,097 | 214,766 | 214,818 |
| Diluted weighted-average common shares outstanding | 216,744 | 221,897 | 221,947 | 222,383 |
| Earnings per non-voting common share (1) | ||||
| Basic | 1.71 | — | 3.04 | — |
| Diluted | 1.13 | — | 1.83 | — |
| Basic weighted-average common shares outstanding | 3,518 | — | 1,778 | — |
| Diluted weighted-average common shares outstanding | 31,081 | — | 29,341 | — |
Consolidated Statements of Financial Condition (Unaudited)
$ in thousands
| Description | May 31, 2026 | November 30, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 14,314,804 | 14,043,889 |
| Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations | 1,135,859 | 917,697 |
| Financial instruments owned, at fair value (includes securities pledged of $15,400,089 and $17,419,373) | 28,038,115 | 27,722,739 |
| Investments in and loans to related parties | 1,555,117 | 1,496,125 |
| Securities borrowed | 9,729,918 | 8,295,161 |
| Securities purchased under agreements to resell | 9,407,203 | 8,449,107 |
| Securities received as collateral, at fair value | 310,813 | 200,495 |
| Receivables: | ||
| Brokers, dealers and clearing organizations | 3,269,022 | 4,310,143 |
| Customers | 4,187,519 | 3,439,921 |
| Fees, interest and other | 848,830 | 806,324 |
| Premises and equipment | 1,190,750 | 1,246,470 |
| Goodwill | 1,725,481 | 1,837,570 |
| Assets held for sale | 295,156 | — |
| Other assets (includes assets pledged of $717,897 and $627,259) | 3,531,359 | 3,246,706 |
| Total assets | 79,539,946 | 76,012,347 |
| Liabilities and Equity | ||
| Short-term borrowings | 1,603,482 | 1,767,206 |
| Financial instruments sold, not yet purchased, at fair value | 14,547,022 | 13,320,152 |
| Securities loaned | 3,104,614 | 2,540,759 |
| Securities sold under agreements to repurchase | 11,318,047 | 12,156,737 |
| Other secured financings (includes $415,801 and $425,964 at fair value) | 2,310,736 | 2,885,878 |
| Obligation to return securities received as collateral, at fair value | 310,813 | 200,495 |
| Payables: | ||
| Brokers, dealers and clearing organizations | 6,385,622 | 6,955,100 |
| Customers | 7,122,654 | 5,216,714 |
| Lease liabilities | 550,928 | 594,097 |
| Liabilities held for sale | 299,760 | — |
| Accrued expenses and other liabilities | 3,337,495 | 3,836,709 |
| Long-term debt (includes $3,860,273 and $3,734,843 at fair value) | 18,040,982 | 15,895,891 |
| Total liabilities | 68,932,155 | 65,369,738 |
| Mezzanine Equity | ||
| Redeemable noncontrolling interests | 406 | 406 |
| Equity | ||
| Series B preferred shares, par value of $1 per share, authorized 70,000 shares; 55,125 shares issued and outstanding | 55 | 55 |
| Voting common shares, par value $1 per share, authorized 552,264,500 and 565,000,000 shares; 194,145,489 and 206,296,167 shares issued and outstanding, after deducting 126,972,581 and 114,821,903 shares held in treasury | 194,145 | 206,296 |
| Non-voting common shares, par value $1 per share, authorized 47,735,500 and 35,000,000, shares; 9,247,081 and 0 shares issued and outstanding | 9,247 | — |
| Additional paid-in capital | 1,915,162 | 2,177,954 |
| Accumulated other comprehensive loss | (356,043) | (384,434) |
| Retained earnings | 8,804,430 | 8,574,825 |
| Total Jefferies Financial Group Inc. shareholders' equity | 10,566,996 | 10,574,696 |
| Noncontrolling interests | 40,389 | 67,507 |
| Total equity | 10,607,385 | 10,642,203 |
| Total liabilities and equity | 79,539,946 | 76,012,347 |
Consolidated Statements of Cash Flows (Unaudited)
$ in thousands
| Description | Six months ended May 31, 2026 | Six months ended May 31, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net earnings | 409,324 | 228,244 |
| Adjustments to reconcile net earnings to net cash used in operating activities: | ||
| Depreciation and amortization | 82,305 | 88,454 |
| Impairment of assets | 65,413 | — |
| Share-based compensation | 73,597 | 53,830 |
| Net bad debt expense | 24,380 | 13,463 |
| Income on investments in and loans to related parties | (46,289) | (15,162) |
| Distributions received on investments in related parties | 26,846 | 28,593 |
| Other adjustments | 71,957 | 184,362 |
| Net change in assets and liabilities: | ||
| Receivables: | ||
| Brokers, dealers and clearing organizations | 1,035,793 | (90,224) |
| Customers | (747,599) | (158,094) |
| Fees, interest and other | (82,695) | (143,594) |
| Securities borrowed | (1,440,729) | (622,392) |
| Financial instruments owned | (348,992) | (1,241,243) |
| Securities purchased under agreements to resell | (976,401) | (1,266,238) |
| Other assets | (253,766) | (205,378) |
| Payables: | ||
| Brokers, dealers and clearing organizations | (562,978) | 112,293 |
| Customers | 1,905,940 | 192,801 |
| Securities loaned | 569,268 | (509,851) |
| Financial instruments sold, not yet purchased | 1,250,926 | 727,110 |
| Securities sold under agreements to repurchase | (828,336) | (217,150) |
| Lease liabilities | (41,903) | (33,240) |
| Accrued expenses and other liabilities | (323,925) | (770,081) |
| Net cash used in operating activities | (137,864) | (3,643,497) |
| Cash flows from investing activities: | ||
| Contributions to investments in and loans to related parties | (210,679) | (111,087) |
| Capital distributions from investments and repayments of loans from related parties | 111,385 | 47,190 |
| Net payments on premises and equipment | (112,864) | (93,247) |
| Net cash used in investing activities | (212,158) | (157,144) |
| Cash flows from financing activities: | ||
| Proceeds from short-term borrowings | 4,191,712 | 4,744,829 |
| Payments on short-term borrowings | (4,431,779) | (3,852,844) |
| Proceeds from issuance of long-term debt, net of issuance costs | 4,818,221 | 2,635,540 |
| Repayment of long-term debt | (2,668,443) | (960,857) |
| Purchase of common shares for treasury | (371,714) | (57,568) |
| Dividends paid to common and preferred shareholders | (184,596) | (187,054) |
| Net proceeds from (payments on) other secured financings | (569,215) | 556,902 |
| Net change in bank overdrafts | 82,132 | (22,945) |
| Proceeds from contributions of noncontrolling interests | 681 | 16,354 |
| Payments on distributions to noncontrolling interests | (7,429) | (3,223) |
| Other | 16,000 | 16,134 |
| Net cash provided by financing activities | 875,570 | 2,885,268 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (4,836) | 61,470 |
| Change in cash, cash equivalents, and restricted cash reclassified from (to) assets held for sale | (31,635) | — |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 520,712 | (853,905) |
| Cash, cash equivalents, and restricted cash at beginning of period | 14,961,586 | 13,165,612 |
| Cash, cash equivalents, and restricted cash at end of period | 15,450,663 | 12,311,707 |
Amounts as printed on the EDGAR/iXBRL face — $ in thousands. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗