Jefferies Financial Group Inc.
Description
Jefferies Financial Group Inc. operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services. The company also offers financing, securities lending, and other prime brokerage services; equities research, sales, and trading services; wealth management services; and online foreign exchange trading services. In addition, it provides investment grade distressed debt securities, U.S. and European government and agency securities, municipal bonds, leveraged loans, emerging markets debt, and interest rate and credit index derivative products; and manages and offers services to a diverse group of alternative asset management platforms across a spectrum of investment strategies and asset classes. The company was formerly known as Leucadia National Corporation and changed its name to Jefferies Financial Group Inc. in May 2018. Jefferies Financial Group Inc. was founded in 1962 and is headquartered in New York, New York.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 6, 2026 | — | — | — | — |
| Sep 23, 2025 | — | — | — | — |
| Jun 24, 2025 | — | — | — | — |
| Mar 25, 2025 | — | — | — | — |
| Jan 9, 2025 | 0.91 | 0.93 | 0.02 | 2.20% |
Earnings estimate
|
Current Quarter
(Feb 2025)
|
Next Quarter
(May 2025)
|
Current Year
(Nov 2025)
|
Next Year
(Nov 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 2 | 2 | 2 | 2 |
| Average estimate | 1.13 | 1.10 | 4.47 | 5.68 |
| Low estimate | 1.06 | 1.06 | 4.45 | 5.45 |
| High estimate | 1.19 | 1.13 | 4.50 | 5.90 |
| Last year EPS | 0.68 | 0.65 | 3.09 | 4.47 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 3, 2025 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▼ Lowers $82 → $81 |
| Dec 9, 2024 |
Morgan Stanley
Ryan Kenny
|
Upgrade | Overweight | ▲ Raises $67 → $97 |
| Nov 14, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $73 → $83 |
| Nov 5, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $71 → $73 |
| Sep 26, 2024 |
Morgan Stanley
Ryan Kenny
|
Maintains | Equal-Weight | ▲ Raises $64 → $67 |
| Sep 23, 2024 |
Morgan Stanley
Ryan Kenny
|
Maintains | Equal-Weight | ▲ Raises $59 → $64 |
| Sep 17, 2024 |
UBS
Brennan Hawken
|
Initiates | Buy | Announces $67 |
| Sep 13, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $64 → $66 |
| Jul 23, 2024 |
Morgan Stanley
Ryan Kenny
|
Maintains | Equal-Weight | ▲ Raises $44 → $59 |
| Jun 14, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $56 → $57 |
| Apr 30, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $54 → $56 |
| Apr 2, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $52 → $54 |
| Mar 8, 2024 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▼ Lowers $53 → $52 |
| Sep 6, 2023 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▲ Raises $39 → $43 |
| Aug 22, 2023 |
Goldman Sachs
|
Upgrade | Buy | — |
| Jul 12, 2023 |
Morgan Stanley
|
Upgrade | Equal-Weight | — |
| Jun 28, 2023 |
Morgan Stanley
Ryan Kenny
|
Reiterates | Underweight | Maintains $27 |
| Jun 21, 2023 |
Morgan Stanley
Ryan Kenny
|
Reiterates | Underweight | Maintains $27 |
| Jun 13, 2023 |
Oppenheimer
|
Maintains | Outperform | — |
| Apr 12, 2023 |
Morgan Stanley
Ryan Kenny
|
Downgrade | Underweight | ▼ Lowers $28 → $27 |
| Apr 6, 2023 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▼ Lowers $42 → $40 |
| Mar 24, 2023 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▼ Lowers $48 → $42 |
| Jan 11, 2023 |
Goldman Sachs
James Yaro
|
Downgrade | Neutral | Announces $40 |
| Dec 22, 2022 |
Keefe, Bruyette & Woods
Michael Brown
|
Downgrade | Market Perform | ▼ Lowers $38 → $37 |
| Aug 4, 2022 |
Goldman Sachs
James Yaro
|
Maintains | Buy | ▲ Raises $33 → $37 |
| Jul 19, 2022 |
Morgan Stanley
Manan Gosalia
|
Maintains | Equal-Weight | ▼ Lowers $32 → $28 |
| Jun 28, 2022 |
Morgan Stanley
Manan Gosalia
|
Maintains | Equal-Weight | ▼ Lowers $33 → $32 |
| Jun 7, 2022 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▼ Lowers $50 → $47 |
| Mar 18, 2022 |
Oppenheimer
Chris Kotowski
|
Maintains | Outperform | ▼ Lowers $52 → $47 |
| Mar 8, 2022 |
Morgan Stanley
|
Maintains | Equal-Weight | ▼ Lowers $40 → $35 |
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 |
| Total reported revenue | 10.52B | 7.44B | 7.15B | 8.95B | 6.96B |
| Cost of revenue | 4.30B | 2.93B | 3.38B | 4.33B | 3.63B |
| Gross profit | 6.22B | 4.51B | 3.77B | 4.62B | 3.33B |
| Operating expense | |||||
| Research & development | — | 177.54M | 150.50M | 109.77M | — |
| Selling general and admin | 961.47M | 849.53M | 792.99M | 710.15M | 1.08B |
| Other operating expenses | 351.95M | 238.62M | 192.57M | 117.57M | — |
| Operating income | 4.71B | 3.31B | 2.61B | 3.52B | 2.09B |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 3.48B | 2.74B | 1.17B | 931.64M | 945.06M |
| Other income expense | -226.92M | -214.39M | -387.13M | -337.32M | -75.48M |
| Pretax income | 1.01B | 354.27M | 1.06B | 2.25B | 1.07B |
| Tax provision | 293.19M | 91.88M | 273.85M | 576.73M | 298.67M |
| Net income | 716.02M | 262.39M | 781.71M | 1.68B | 768.41M |
| Basic EPS | — | 1.12 | 3.13 | 6.29 | 2.68 |
| Diluted EPS | — | 1.10 | 3.06 | 6.13 | 2.65 |
| Basic average shares | — | 232.61M | 247.38M | 263.60M | 285.69M |
| Diluted average shares | — | 232.61M | 247.38M | 263.60M | 285.69M |
| EBITDA | 4.68B | 3.21B | 2.42B | 3.34B | 2.17B |
| Net income from continuing op. | 716.02M | 262.39M | 781.71M | 1.68B | 768.41M |
| Minority interests | 27.36M | 15.30M | 3.74M | -3.02M | 6.83M |
| Preferred stock dividends | — | 14.73M | 3.02M | 9.96M | 4.80M |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 |
| Total assets | 64.36B | 57.91B | 51.06B | 56.11B | 53.12B |
| Current assets | |||||
| Cash | 3.93B | 2.61B | 2.54B | 2.27B | 1.98B |
| Cash equivalents | 8.23B | 5.92B | 7.16B | 8.49B | 5.13B |
| Cash and cash equivalents | 12.15B | 8.53B | 9.70B | 10.76B | 9.06B |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 5.82B | 4.72B | 3.59B | 4.65B | 6.61B |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | 20.19B | 18.83B | 16.19B | 13.75B | 611.84M |
| Assets held for sale | 51.89M | 1.55B | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | 3.88B | 3.89B | 3.47B | 3.49B | 3.66B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 226.37M | 196.92M | — | 152.40M | 167.15M |
| Investments and advances | 19.09B | 17.73B | 14.94B | 19.35B | 30.16B |
| Other non current assets | 2.42B | 2.21B | 2.56B | 3.36B | 2.19B |
| Total liabilities | 54.13B | 48.10B | 40.76B | 45.50B | 43.66B |
| Current liabilities | |||||
| Accounts payable | 7.76B | 7.70B | 6.21B | 8.41B | 10.39B |
| Accrued expenses | 3.51B | 2.55B | 2.57B | 3.33B | — |
| Short term debt | 443.16M | 989.72M | 528.39M | 221.86M | 9.08B |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | 1.17B | — | — | — |
| Non current liabilities | |||||
| Long term debt | 19.92B | 15.10B | 13.20B | 11.20B | 10.75B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | 710.31M | 1.15B | 1.51B | — | — |
| Other non current liabilities | 21.79B | 19.45B | 16.61B | 22.21B | 13.31B |
| Shareholders equity | |||||
| Common stock | 205.50M | 210.63M | 226.13M | 243.54M | 249.75M |
| Retained earnings | 8.27B | 7.85B | 8.42B | 7.94B | 6.53B |
| Other shareholders equity | -423.13M | -395.55M | -379.42M | -372.14M | -288.92M |
| Total shareholders equity | 10.23B | 9.80B | 10.30B | 10.61B | 9.46B |
| Additional paid in capital | 2.10B | 2.04B | 1.97B | 2.74B | 2.91B |
| Treasury stock | — | — | — | — | — |
| Minority interest | 68.62M | 92.71M | 69.09M | 51.29M | 59.31M |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||||
| Net Income | 716.02M | 262.39M | 781.71M | 1.68B | 768.41M | 962.56M | 252.85M | 194.32M | 244.28M | 186.46M | 352.09M | 870.99M | 15.29M | 1.88B | 548.60M | -2.54B | 484.29M | 189.40M | 1.64B | 145.50M | 97.05M | 161.62M | -7.51M | 116.01M | 193.40M | 46.20M | -22.30M | -28.90M | 32.50M | 70.80M | 116.30M | 130.60M | 94.40M | 65.00M | 22.70M |
| Depreciation | 197.85M | 113.47M | 189.34M | 144.26M | 142.39M | 129.77M | 64.76M | 71.61M | 172.07M | 139.74M | 138.96M | 170.11M | 96.62M | 105.85M | 86.38M | 72.28M | 42.44M | 24.00M | 189.50M | 235.92M | 61.10M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Deferred Taxes | -4.13M | 10.46M | -70.40M | 96.89M | 64.67M | -538.19M | 712.06M | 118.63M | 134.02M | 126.89M | 70.05M | 484.97M | 22.42M | -1.17B | 19.61M | 1.67B | -567.86M | 99.99M | -1.14B | 7.24M | 28.96M | -28.05M | -35.29M | 28.32M | 40.70M | 7.60M | -3.80M | -20.60M | -13.10M | 20.40M | 35.30M | — | — | — | — |
| Stock-Based Compensation | 63.12M | 45.36M | 43.92M | 78.16M | 40.04M | 49.85M | 48.38M | 33.60M | 74.09M | 109.84M | 87.31M | 14.46M | 23.26M | 4.26M | 11.11M | 12.18M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 264.68M | -99.78M | -601.30M | -89.00M | 256.67M | 61.57M | -433.15M | -390.92M | -93.97M | -68.16M | -8.66M | 107.38M | -20.01M | 37.98M | -128.47M | 3.22M | 7.72M | -81.22M | 96.46M | -284.58M | -119.62M | -95.55M | 67.51M | -115.87M | -205.70M | -114.90M | -28.00M | 137.70M | 57.30M | -91.10M | -602.80M | 11.60M | -20.60M | -5.00M | 33.40M |
| Accounts Receivable | -1.15B | -1.02B | 1.22B | -493.98M | -1.04B | 733.57M | -1.50B | -334.56M | 463.62M | -499.31M | 242.80M | -23.36M | — | -11.50M | 14.22M | 6.45M | 11.99M | 183.26M | 20.85M | 19.58M | -18.09M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Accounts Payable | 64.53M | 1.14B | -2.17B | 2.38B | 2.32B | 582.83M | -347.41M | 326.08M | -3.19B | 2.05B | -411.68M | 30.35M | -36.26M | 36.61M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -1.19B | -2.38B | 3.29B | -2.76B | -708.47M | -2.77B | 1.44B | -28.61M | 1.41B | -3.00B | 441.53M | 91.71M | 108.40M | -35.58M | -16.43M | -11.11M | 1.12M | -47.78M | -31.37M | -23.68M | -40.69M | 17.35M | -39.35M | -54.94M | 63.80M | -55.20M | -123.30M | -105.60M | 41.30M | 119.40M | -38.50M | -155.10M | — | -4.80M | 14.60M |
| Operating Cash Flow | -1.03B | -1.93B | 2.67B | 1.04B | 1.84B | -784.14M | 236.01M | -9.85M | -786.40M | -946.61M | 912.40M | 1.75B | 209.73M | 850.45M | 535.02M | -781.73M | -20.30M | 367.65M | 776.38M | 99.97M | 8.72M | 55.38M | -14.64M | -26.48M | 92.20M | -116.30M | -177.40M | -17.40M | 118.00M | 119.50M | -489.70M | -12.90M | 73.80M | 55.20M | 70.70M |
| Investing Activities | |||||||||||||||||||||||||||||||||||
| Capital Expenditures | -250.58M | -1.16M | -224.30M | -165.61M | -176.96M | -232.23M | -94.99M | -209.99M | -273.07M | -548.83M | -141.73M | -71.33M | -38.59M | -44.34M | 2.59M | -62.96M | -53.85M | 78.31M | -128.59M | 2.87M | -42.51M | — | -53.34M | -93.23M | -127.90M | -79.30M | -57.20M | -19.90M | -45.00M | -122.10M | -19.40M | -27.40M | -27.90M | -27.00M | -30.50M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | 610.84M | 215.19M | 310.04M | — | 179.65M | 890.79M | 441.74M | -10.00M | -16.51M | -269.46M | 3.02B | -25.23M | -1.02B | -333.99M | -179.67M | -792.05M | -90.27M | -105.28M | -170.52M | — | 114.52M | -37.85M | -51.92M | -83.12M | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -1.08B | -251.75M | -351.65M | -2.34B | -906,000 | -3.00M | -1.15B | -739.30M | -873.83M | -1.82B | -3.79B | -2.69B | -3.53B | -1.78B | -2.24B | -4.41B | -6.81B | -4.38B | -3.39B | -2.60B | -1.68B | -1.14B | -1.01B | -769.19M | -1.81B | -2.90B | -1.72B | -877.50M | -784.40M | -1.25B | -1.58B | -2.65B | -3.03B | -1.07B | -1.44B |
| Sale of Investments | — | — | 3.59M | 3.27M | 22.99M | 1.44B | 787.52M | 645.75M | 2.31B | 3.07B | 4.21B | 1.87B | 4.73B | 1.22B | 2.49B | 4.94B | 5.97B | 4.09B | 3.24B | 2.34B | 1.25B | 1.21B | 898.18M | 967.53M | 2.54B | 2.98B | 1.06B | 933.70M | 616.50M | 1.31B | 1.79B | 3.09B | 3.01B | 861.90M | 1.29B |
| Investing Cash Flow | -726.37M | -128.95M | -347.12M | -2.72B | -1.74B | 1.59B | -3.09B | -1.29B | -613.94M | -2.51B | 921.48M | -201.61M | 47.75M | -919.41M | 82.07M | -294.95M | -961.60M | -306.40M | -436.50M | -39.03M | -212.57M | -56.52M | -141.94M | 183.82M | 765.80M | 14.40M | 540.30M | 86.00M | -244.00M | -161.50M | 58.10M | 490.80M | 59.10M | -303.80M | -13.90M |
| Financing Activities | |||||||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 6.83B | 2.30B | 1.20B | 3.69B | 3.35B | 4.81B | 1.62B | 1.14B | 568.83M | 1.47B | 2.15B | 1.02M | 93.12M | 211.70M | 50.12M | 88.66M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -9.17B | -6.29B | -6.61B | -3.20B | -3.08B | -2.59B | -854.00M | -845.40M | -1.32B | -434.28M | -1.89B | -572.92M | -144.56M | -95.00M | -42.97M | -15.86M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | 2.74M | 6.06M | 65.00M | -10.13M | 18.96M | 1.87M | 27.86M | 137.28M | 14.11M | 45.62M | -315.34M | -18.66M | -1.02M | -2.36M | -30.08M | -6.01M | 5.48M | 14.31M | -24.57M | -120.52M | -245.85M | -82.35M | -45.93M | 117.01M | 128.30M | 33.90M | 86.80M | 6.40M | 22.60M | -11.60M | -18.50M | -308.80M | 45.70M | 207.30M | 43.40M |
| Financing Cash Flow | -3.22B | -3.95B | -6.18B | -561.80M | -723.53M | 1.59B | 597.09M | 401.72M | -651.98M | 917.78M | -270.51M | -651.71M | -106.64M | 64.66M | -21.96M | 172.99M | 203.12M | -35.67M | -48.05M | -125.41M | -262.32M | 53.74M | -59.29M | 71.09M | -809.10M | -33.80M | 69.30M | -9.50M | 50.80M | -19.10M | -28.00M | -332.00M | 59.10M | 169.90M | 31.50M |
| Other Cash Details | |||||||||||||||||||||||||||||||||||
| End Cash Position | 13.17B | 9.83B | 10.71B | 11.83B | 9.66B | 8.48B | 5.77B | 4.60B | 3.64B | 4.28B | 3.91B | 145.96M | 168.49M | 441.34M | 154.13M | 237.50M | 456.97M | 287.20M | 386.96M | 486.95M | 214.39M | 418.60M | 373.22M | 475.37M | 296.10M | — | 581.20M | — | 118.60M | 252.50M | — | — | — | — | — |
| Income Tax Paid | 257.50M | 159.36M | 214.07M | 727.13M | 25,000 | 24.59M | 15.36M | — | 510,000 | 9.88M | 75.93M | 37.36M | 26.18M | 22.23M | 4.36M | 3.15M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 3.44B | 2.35B | 1.16B | 936.27M | 1.08B | 1.56B | 1.12B | 957.14M | 980.27M | 1.04B | 722.70M | 104.00M | 112.77M | 123.86M | 129.60M | 144.32M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | -459.84M | -1.93B | 1.58B | 1.42B | 1.90B | -1.06B | 665.27M | 315.75M | -1.06B | -1.59B | 536.21M | 574.11M | -595.36M | 386.92M | -167.06M | -175.34M | -153.46M | -19.00M | 158.80M | -52.00M | -176.90M | 55.38M | -14.64M | -26.48M | -35.70M | -195.60M | -234.60M | -37.30M | 73.00M | -2.60M | -509.10M | -40.30M | 45.90M | 28.20M | 40.20M |
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