NYSE: JEF
Jefferies Financial Group Inc.CIK 0000096223 · SIC 6211 · Security Brokers & Dealers
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Jefferies' net earnings attributable to common shareholders rose 26.7% to $283.9M in the fiscal third quarter, including a goodwill impairment of $58.2 million related to Tessellis.
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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 to issue senior autocallable contingent coupon notes linked to worst-performing of three indices; terms preliminary
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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 $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 Financial Group prices structured notes linked to worst-performing of three equity indices
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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 Oct 9, 2026 (period ending Aug 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 August 31, 2026 | Three months ended August 31, 2025 | Nine months ended August 31, 2026 | Nine months ended August 31, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| Investment banking | 1,303,833 | 1,088,197 | 3,531,742 | 2,606,976 |
| Principal transactions | 468,655 | 486,893 | 1,444,819 | 1,232,630 |
| Commissions and other fees | 392,932 | 325,178 | 1,161,150 | 966,711 |
| Asset management fees and revenues | 9,869 | 13,079 | 87,019 | 118,563 |
| Interest | 922,999 | 846,894 | 2,590,080 | 2,570,090 |
| Other | 132,510 | 147,433 | 405,450 | 379,883 |
| Total revenues | 3,230,798 | 2,907,674 | 9,220,260 | 7,874,853 |
| Interest expense | 1,008,864 | 860,242 | 2,774,745 | 2,599,955 |
| Net revenues | 2,221,934 | 2,047,432 | 6,445,515 | 5,274,898 |
| Non-interest expenses | ||||
| Compensation and benefits | 1,192,745 | 1,083,510 | 3,466,880 | 2,779,476 |
| Brokerage and clearing fees | 139,475 | 121,164 | 420,053 | 360,345 |
| Underwriting costs | 31,858 | 20,332 | 90,099 | 52,703 |
| Technology and communications | 173,235 | 157,171 | 495,953 | 442,844 |
| Occupancy and equipment rental | 34,713 | 32,908 | 103,072 | 93,818 |
| Business development | 83,000 | 78,999 | 247,530 | 231,360 |
| Professional services | 88,652 | 73,329 | 264,303 | 223,563 |
| Depreciation and amortization | 43,282 | 53,230 | 147,475 | 136,471 |
| Cost of sales | 22,922 | 34,430 | 84,095 | 118,959 |
| Other expenses | 61,014 | 60,544 | 247,252 | 217,578 |
| Total non-interest expenses | 1,870,896 | 1,715,617 | 5,566,712 | 4,657,117 |
| Earnings before income taxes | 351,038 | 331,815 | 878,803 | 617,781 |
| Income tax expense | 62,785 | 89,311 | 181,226 | 147,033 |
| Net earnings | 288,253 | 242,504 | 697,577 | 470,748 |
| Net losses attributable to noncontrolling interests | (2,740) | (10,041) | (24,038) | (24,692) |
| Preferred stock dividends | 7,110 | 28,559 | 59,897 | 55,528 |
| Net earnings attributable to common shareholders | 283,883 | 223,986 | 661,718 | 439,912 |
| Earnings per voting common share (1) | ||||
| Basic | 1.22 | 1.04 | 2.99 | 2.05 |
| Diluted | 1.18 | 1.01 | 2.88 | 1.98 |
| Basic weighted-average common shares outstanding | 198,437 | 215,293 | 208,132 | 214,977 |
| Diluted weighted-average common shares outstanding | 206,345 | 222,715 | 215,531 | 222,539 |
| Earnings per non-voting common share (1) | ||||
| Basic | 1.35 | — | 3.53 | — |
| Diluted | 1.23 | — | 3.06 | — |
| Basic weighted-average common shares outstanding | 30,293 | — | 11,353 | — |
| Diluted weighted-average common shares outstanding | 38,981 | — | 32,624 | — |
Consolidated Statements of Financial Condition (Unaudited)
$ in thousands
| Description | August 31, 2026 | November 30, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 16,883,584 | 14,043,889 |
| Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations | 1,177,954 | 917,697 |
| Financial instruments owned, at fair value (includes securities pledged of $17,552,721 and $17,419,373) | 27,282,633 | 27,722,739 |
| Investments in and loans to related parties | 1,653,340 | 1,496,125 |
| Securities borrowed | 11,158,355 | 8,295,161 |
| Securities purchased under agreements to resell | 7,840,742 | 8,449,107 |
| Securities received as collateral, at fair value | 289,869 | 200,495 |
| Receivables: | ||
| Brokers, dealers and clearing organizations | 3,096,144 | 4,310,143 |
| Customers | 4,416,818 | 3,439,921 |
| Fees, interest and other | 877,248 | 806,324 |
| Premises and equipment | 1,193,043 | 1,246,470 |
| Goodwill | 1,726,023 | 1,837,570 |
| Assets held for sale | 294,060 | — |
| Other assets (includes assets pledged of $675,462 and $627,259) | 3,412,045 | 3,246,706 |
| Total assets | 81,301,858 | 76,012,347 |
| Liabilities and Equity | ||
| Short-term borrowings | 1,465,781 | 1,767,206 |
| Financial instruments sold, not yet purchased, at fair value | 15,095,989 | 13,320,152 |
| Securities loaned | 4,023,003 | 2,540,759 |
| Securities sold under agreements to repurchase | 12,920,669 | 12,156,737 |
| Other secured financings (includes $413,121 and $425,964 at fair value) | 2,336,070 | 2,885,878 |
| Obligation to return securities received as collateral, at fair value | 289,869 | 200,495 |
| Payables: | ||
| Brokers, dealers and clearing organizations | 5,182,459 | 6,955,100 |
| Customers | 6,175,387 | 5,216,714 |
| Lease liabilities | 541,486 | 594,097 |
| Liabilities held for sale | 302,551 | — |
| Accrued expenses and other liabilities | 3,756,749 | 3,836,709 |
| Long-term debt (includes $3,941,920 and $3,734,843 at fair value) | 18,458,995 | 15,895,891 |
| Total liabilities | 70,549,008 | 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; 0 and 55,125 shares issued and outstanding | — | 55 |
| Voting common shares, par value $1 per share, authorized 552,264,500 and 565,000,000 shares; 189,078,660 and 206,296,167 shares issued and outstanding, after deducting 132,039,410 and 114,821,903 shares held in treasury | 189,079 | 206,296 |
| Non-voting common shares, par value $1 per share, authorized 47,735,500 and 35,000,000, shares; 40,579,081 and 0 shares issued and outstanding | 40,579 | — |
| Additional paid-in capital | 1,850,209 | 2,177,954 |
| Accumulated other comprehensive loss | (361,922) | (384,434) |
| Retained earnings | 8,996,409 | 8,574,825 |
| Total Jefferies Financial Group Inc. shareholders' equity | 10,714,354 | 10,574,696 |
| Noncontrolling interests | 38,090 | 67,507 |
| Total equity | 10,752,444 | 10,642,203 |
| Total liabilities and equity | 81,301,858 | 76,012,347 |
Consolidated Statements of Cash Flows (Unaudited)
$ in thousands
| Description | Nine months ended August 31, 2026 | Nine months ended August 31, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net earnings | 697,577 | 470,748 |
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 128,699 | 144,434 |
| Impairment of assets | 65,413 | — |
| Share-based compensation | 95,767 | 67,810 |
| Net bad debt expense | 30,583 | 16,931 |
| Income on investments in and loans to related parties | (99,082) | (54,270) |
| Distributions received on investments in related parties | 52,400 | 71,368 |
| Loss on assets held for sale | — | 12,566 |
| Other adjustments | 47,095 | 434,110 |
| Net change in assets and liabilities: | ||
| Receivables: | ||
| Brokers, dealers and clearing organizations | 1,210,771 | (193,514) |
| Customers | (976,898) | (533,734) |
| Fees, interest and other | (116,742) | (60,040) |
| Securities borrowed | (2,867,877) | (945,232) |
| Financial instruments owned | 416,562 | (1,712,385) |
| Securities purchased under agreements to resell | 597,100 | (1,664,568) |
| Other assets | (95,054) | (266,563) |
| Payables: | ||
| Brokers, dealers and clearing organizations | (1,769,291) | (26,372) |
| Customers | 958,673 | 374,518 |
| Securities loaned | 1,486,559 | (62,979) |
| Financial instruments sold, not yet purchased | 1,792,713 | 1,260,915 |
| Securities sold under agreements to repurchase | 771,786 | (312,049) |
| Lease liabilities | (58,788) | (48,280) |
| Accrued expenses and other liabilities | 85,540 | (432,723) |
| Net cash provided by (used in) operating activities | 2,453,506 | (3,459,309) |
| Cash flows from investing activities: | ||
| Contributions to investments in and loans to related parties | (766,395) | (466,338) |
| Capital distributions from investments and repayments of loans from related parties | 593,556 | 379,193 |
| Originations and purchases of loans, notes and other receivables | (24,782) | — |
| Principal collections of loans, notes and other receivables | 156 | — |
| Net payments on premises and equipment | (162,203) | (151,425) |
| Proceeds from assets held for sale | — | 26,843 |
| Net cash used in investing activities | (359,668) | (211,727) |
| Cash flows from financing activities: | ||
| Proceeds from short-term borrowings | 5,211,712 | 7,170,583 |
| Payments on short-term borrowings | (5,497,779) | (6,363,688) |
| Proceeds from issuance of long-term debt, net of issuance costs | 6,968,788 | 3,852,721 |
| Repayment of long-term debt | (4,397,648) | (1,758,422) |
| Purchase of common shares for treasury | (439,932) | (58,486) |
| Dividends paid to common and preferred shareholders | (276,460) | (280,589) |
| Net proceeds from (payments on) other secured financings | (539,583) | 497,768 |
| Net change in bank overdrafts | (10,278) | (22,050) |
| Proceeds from contributions of noncontrolling interests | 981 | 18,909 |
| Payments on distributions to noncontrolling interests | (7,606) | (8,084) |
| Other | 17,470 | 9,573 |
| Net cash provided by financing activities | 1,029,665 | 3,058,235 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (2,566) | 17,281 |
| Change in cash, cash equivalents, and restricted cash reclassified from (to) assets held for sale | (20,985) | — |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 3,120,937 | (595,520) |
| 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 | 18,061,538 | 12,570,092 |
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 ↗