Jefferies Financial Group Inc
jefferies.comJefferies Financial Group Inc. (NYSE: JEF) is an investment banking and capital markets company that provides advisory, underwriting, sales and trading, and prime brokerage services to institutional clients. Revenue is earned through investment banking fees, commissions and spread on equity and equity-related transaction execution, and prime services including financing and capital introduction for hedge funds and asset managers. The firm organizes its equity research, sales and trading operations across the Americas, Europe and the Middle East, and Asia-Pacific. For the fiscal year ended November 30, 2025, Jefferies reported net revenues of $7.34 billion, up 4.4% from $7.03 billion in FY2024, while net earnings attributable to common shareholders were $630.8 million, down 5.7% year over year. Non-interest expenses were $6.47 billion in FY2025, reflecting an 88.1% expense ratio on net revenues. The firm serves primarily institutional market participants including mutual funds, hedge funds, investment advisors, pension plans, and insurance companies.
Products & Services
Equity sales and trading across common stock, American depository receipts, global depository receipts, ETFs, exchange-traded and OTC equity derivatives, convertible and equity-linked products, and closed-end funds. Equity research and distribution of trading ideas and market analysis. Prime brokerage services including financing, business consulting, capital introduction, outsourced trading solutions, and technology platforms for hedge fund managers.
Revenue Model
Transactional and fee-based. Commissions and spread revenue from executing, settling, and clearing equity and equity-related transactions. Investment banking fees from advisory and underwriting. Prime services revenue from financing, capital introduction, and outsourced trading solutions provided to hedge funds and asset managers.
Customers & Markets
Primarily institutional market participants: mutual funds, hedge funds, investment advisors, pension and profit sharing plans, and insurance companies. Also serves start-up and existing fund managers through prime services.
Geographic Exposure
Americas, Europe and the Middle East, and Asia-Pacific. The filing describes an ongoing effort to strengthen the global footprint across all three regions.
Financial Snapshot
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