Jefferies' franchise is a single-engine fee business, with non-interest income exceeding 100% of total revenue in eight of the last ten quarters (peaking at 155.2% in 2025Q1) while net interest income has posted nine consecutive negative quarters averaging roughly -$865M.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue is entirely fee-dependent (fee % of 142-155% in recent quarters) because net interest income has run roughly -$850M to -$912M per quarter, leaving operating income highly volatile — from -$1.7B in 2025Q4 to $1.3B in 2024Q4.
Jefferies has experienced a significant recovery and record-breaking revenue in its investment banking division, driven by increased advisory fees, equity underwriting, and a healthy global deal pipeline for M&A and IPOs. The firm has capitalized on a rejuvenated Equity Capital Market, leading high-profile IPOs.
Jefferies' stock has experienced a significant decline, making it an attractive, undervalued target for larger financial institutions. Japan's Sumitomo Mitsui Financial Group (SMFG) has been increasing its stake in Jefferies and is reportedly considering a takeover bid, which has boosted the stock price.
The company's recent acquisitions and platform growth are seen as drivers for future revenue. Jefferies has also been actively reshaping its capital structure through long-dated note offerings and share buybacks, while maintaining its dividend.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Sep 28, 2026 | $1.08+8.0% vs $1.00 | $2.2B+1.2% vs $2.2B |
Q3 2026 Jun 24, 2026 | $1.03-11.2% vs $1.16 | $2.2B-4.0% vs $2.3B |
Q2 2026 Mar 25, 2026 | $0.72-19.5% vs $0.89 | $2.0B+1.8% vs $2.0B |
Q1 2026 Jan 7, 2026 | $0.89+1.6% vs $0.88 | $2.1B+2.6% vs $2.0B |
A retired 67-year-old trades the couch for a $40,000 job out of sheer boredom, and his decision quietly sets off a chain reaction inside Social Security that most retirees never think to check.
Jefferies Financial Group Inc. (NYSE: JEF) today announced that it ranked No. 1 in the 2026 Extel All-America Research Survey (formerly Institutional Investor)
Jefferies Financial Group NYSE: JEF used its Investor Day to emphasize the scale it has achieved in investment banking and capital markets, its plans to increase operating leverage and its expectation that asset management results will become more consistent following a planned Hildene transaction.
Jefferies Financial Group Inc. (JEF) Analyst/Investor Day Transcript
Benchmark JEF against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Jefferies Financial Group Inc. (JEF)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $47.38 | $9.69B | 10.44 | 4.39% | 10.64% | 8.78% | 3.55% | |
| $865.82 | $260.7B | 11.76 | 8.92% | 31.81% | 17.9% | 1.92% | |
| $181.44 | $286.18B | 13.84 | 14.48% | 25.97% | 17.7% | 2.28% | |
| $284.65 | $11.01B | 15.30 | 29.41% | 15.73% | 34.34% | 1.14% | |
| $148.61 | $3.84B | 22.21 | 14.77% | 10.5% | 19.27% | 0.58% | |
| $38.31 | $3.73B | 22.25 | 3.36% | 5.65% | 18.96% | 4.58% |
Jefferies Financial Group Inc. (JEF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Jefferies Financial Group Inc. (JEF) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jun 24, 2026·SEC
Apr 28, 2026·SEC
Apr 24, 2026·SEC
Get notified when JEF posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Jefferies Financial Group Inc. (JEF) stock FAQ — growth, dividends, profitability & financials explained
Jefferies Financial Group Inc. (JEF) grew revenue by 21.8% over the trailing twelve months, compared with the twelve months before.
Yes. Jefferies Financial Group Inc. (JEF) earned $936.6M in net income over the trailing twelve months (a 10.6% net margin).
Yes. Jefferies Financial Group Inc. (JEF) pays a dividend that yields 3.55% at the current price, a moderate yield.
Jefferies Financial Group Inc. (JEF) had a return on equity (ROE) of 8.8% over the trailing twelve months. That is below the market's typical 10-15%.
Jefferies Financial Group Inc. (JEF) has a net interest margin (NIM) of -4.6%. NIM has been under pressure due to interest rate environment.
Jefferies Financial Group Inc. (JEF) has an efficiency ratio of 78.6%. This is higher than peers, suggesting room for cost optimization.
