Revenue has scaled significantly to $176.4 million as of 2026Q1, though gross margins have compressed from historical peaks above 90% to 61.8% due to increased competition.
| Sales/Revenue | 634.89M | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | 432.51M | 415.58M | 308.4M | 238.44M | 41.1M | 29.5M | 11.92M | 6.53M | 1.74M |
| Gross Margin % | 68.12% | 67.76% | 71.17% | 73.8% | 91.14% | 94.52% | 97.78% | 100% | 100% |
| Gross Profit Growth % | - | 34.75% | 29.34% | 480.15% | 39.31% | 147.5% | 82.49% | 274.76% | - |
| Operating Expenses | 106.35M | 99.08M | 88.1M | 74.39M | 25.2M | 18.43M | 9.78M | 9.39M | 4.96M |
| OpEx % of Revenue | - | 16.16% | 20.33% | 23.02% | 55.88% | 59.03% | 80.2% | 143.77% | 284.85% |
| Selling, General & Admin | 93.46M | 147.4M | 96.9M | 77.2M | 16.61M | 14.33M | 9.03M | 8.99M | 4.43M |
| SG&A % of Revenue | - | 24.03% | 22.36% | 23.9% | 36.84% | 45.9% | 74.1% | 137.71% | 253.93% |
| Research & Development | 0 | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - | - | - |
| Operating Income | 326.16M | 316.5M | 220.3M | 164.05M | 15.9M | 11.07M | 2.14M | -2.86M | -3.22M |
| Operating Margin % | 51.37% | 51.61% | 50.84% | 50.78% | 35.26% | 35.48% | 17.58% | -43.77% | -184.85% |
| Operating Income Growth % | - | 43.67% | 34.29% | 931.7% | 43.58% | 416.8% | 174.96% | 11.27% | - |
| EBITDA | 332.36M | 321.75M | 227.16M | 169.33M | 22.16M | 14.56M | 2.68M | -2.75M | -3.2M |
| EBITDA Margin % | 52.35% | 52.46% | 52.43% | 52.41% | 49.15% | 46.66% | 21.96% | -42.05% | -183.65% |
| EBITDA Growth % | 345.02% | 41.64% | 34.15% | 664.04% | 52.18% | 444.04% | 197.45% | 14.18% | - |
| D&A (Non-Cash Add-back) | 6.2M | 5.25M | 6.86M | 5.28M | 6.26M | 3.49M | 534K | 112K | 21K |
| EBIT | 279.06M | 324.22M | 151.2M | 115.94M | 52.91M | 56.52M | 15.61M | 16.58M | 0 |
| Net Interest Income | -77.04B | 460.63M | 0 | 0 | -8.5M | 0 | 0 | 0 | 0 |
| Interest Income | 140.43M | 566.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 77.18B | 105.78M | 0 | 0 | 8.5M | 2.15M | 1.05M | 559K | 0 |
| Other Income/Expense | 0 | - | - | - | - | - | - | - | - |
| Pretax Income | 225.47M | 218.44M | 138M | 120.58M | 44.41M | 54.37M | 14.56M | 16.02M | -2.94M |
| Pretax Margin % | 35.51% | 35.62% | 31.85% | 37.32% | 98.48% | 174.17% | 119.42% | 245.21% | -168.85% |
| Income Tax | 51.23M | 30.47M | 32.7M | 9.04M | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 22.72% | 13.95% | 23.7% | 7.5% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 174.35M | 187.97M | 105.3M | 111.52M | 44.41M | 54.37M | 14.56M | 16.02M | -2.94M |
| Net Margin % | 27.46% | 30.65% | 24.3% | 34.52% | 98.48% | 174.17% | 119.42% | 245.21% | -168.85% |
| Net Income Growth % | 502.2% | 78.5% | -5.58% | 151.13% | -18.32% | 273.42% | -9.1% | 644.24% | - |
| Net Income (Continuing) | 174.25M | 187.97M | 105.3M | 111.54M | 44.41M | 54.37M | 14.56M | 16.02M | -2.94M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.14 | 6.26 | 1.81 | 1.91 | 2.06 | 3.14 | 1.22 | 2.58 | -0.65 |
| EPS Growth % | 1064.36% | 245.86% | -5.24% | -7.28% | -34.39% | 157.38% | -52.71% | 496.92% | - |
| EPS (Basic) | - | 6.26 | 1.81 | 1.91 | 2.06 | 3.14 | 1.22 | 2.64 | -0.65 |
| Diluted Shares Outstanding | 55.59M | 30.02M | 58.27M | 58.27M | 21.59M | 17.31M | 11.91M | 6.21M | 4.5M |
| Basic Shares Outstanding | 55.59M | 30.02M | 58.27M | 58.27M | 21.59M | 17.31M | 11.91M | 6.06M | 4.5M |
| Dividend Payout Ratio | - | 33.76% | 34.19% | 27.41% | 93.96% | 56.27% | 116.44% | 52.99% | - |
Regulatory and Portfolio Acquisition Costs
As indicated by the quarterly financial data, Jefferson Capital has achieved significant revenue expansion, with figures climbing from $11.7 million in 2020Q1 to $176.4 million by 2026Q1, reflecting a successful strategy of aggressive debt portfolio acquisition and effective recovery execution across diverse consumer credit niches.
The trajectory suggests that the firm is successfully capitalizing on a larger supply of distressed consumer debt, moving well beyond its historical revenue base. This growth appears durable, provided the firm maintains its ability to source portfolios at prices that allow for favorable recovery spreads.
Based on the provided income statement history, gross margins have trended downward from historical peaks above 90% in 2019 to 61.8% in 2026Q1, suggesting that the cost of acquiring debt portfolios has risen as the company scales its operations within a more competitive credit environment.
While the decline in gross margin is notable, the company maintains a robust operating margin of 45.4%, which implies that management has successfully offset higher inventory costs through operational efficiencies. Investors should monitor whether this margin profile remains sustainable as the firm expands into newer, potentially less predictable markets.
According to the reported figures, Jefferson Capital demonstrates significant operating leverage, as evidenced by the ability to maintain an operating margin of 45.4% in 2026Q1 despite the substantial increase in top-line revenue, indicating that overhead costs are not scaling linearly with the firm's debt collection activities.
The firm's ability to keep SG&A expenses relatively contained while revenue grows suggests a highly automated or scalable collection infrastructure. This operational discipline appears to be a key differentiator compared to legacy peers who often struggle with bloated, labor-intensive cost structures.
As reported in the financial statements, net income has exhibited significant volatility, with a notable dip to $3.4 million in 2024Q4 before rebounding, which warrants caution regarding the consistency of earnings quality and the potential impact of non-operating items or portfolio impairment charges on the bottom line.
The wide variance in EPS, including the anomalous 16.76 figure in 2025Q2, suggests that investors should focus on normalized operating income rather than headline net income. The absence of stock-based compensation in recent periods is a positive indicator for shareholders, as it avoids dilution and aligns management incentives with cash generation.
Based on an analysis of the income statement, skeptics might argue that the current 61.8% gross margin is vulnerable to further compression if the supply of high-quality distressed debt tightens or if regulatory scrutiny increases the legal and compliance costs associated with the firm's collection efforts.
The reliance on internal rate of return estimates for revenue recognition creates a risk that reported figures may not fully reflect cash-in-hand realities. If collection efficiency ratios begin to deteriorate, the firm may be forced to recognize significant impairments, which would challenge the current valuation premium relative to industry peers.
Quick answers to the most common questions about buying JCAP stock.
Jefferson Capital, Inc. Common Stock (JCAP) is profitable, generating $188.0M in net income for the fiscal year ending 2025 with a net profit margin of 30.6%.
Jefferson Capital, Inc. Common Stock (JCAP) reported an operating income of $316.5M, resulting in an operating profit margin of 51.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Jefferson Capital, Inc. Common Stock (JCAP) generated $415.6M in gross profit for the year, representing a gross profit margin of 67.8%. This demonstrates the company's core pricing power and production efficiency.