← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Jefferies had a record advisory year and grew revenue 2.9% to $10.82B, while net earnings slipped 4.7% and the First Brands fraud hit a fund it manages; SMBC is lifting its stake toward 20%
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 2.9% to $10.82B; record advisory and equitiesOK
- Profitability — Net earnings down 4.7% to $0.68B; net margin 6.81% to 6.3%Watch
- Balance sheet — Total debt up 26.4% to $17.66B; equity up 4.1% to $10.57BWatch
- Capital allocation — Dividends up 23.5% to $0.37B; quarterly dividend raised to $0.40Note
- SMBC alliance — SMBC owned 15.7% as-converted and plans up to 20%Note
Business
Jefferies Financial Group is a U.S.-headquartered global investment banking and capital markets firm. Its main subsidiary, broker-dealer Jefferies LLC, was founded in 1962. It earns fees advising on deals and underwriting securities, trades equities and fixed income for clients, and runs asset management including Leucadia Asset Management, plus legacy holdings such as HomeFed real estate. The company is the former Leucadia National Corporation; Jefferies Group's leaders took over as its CEO and President in 2013, and legacy Jefferies Group merged into it in November 2022.
Where the revenue comes from
Fiscal 2025, as Jefferies Financial Group Inc. reports it. History and quarterly detail are in the app.
- Investment Banking and Capital Markets$5.1B
- Asset Management$458.2M
Latest filings
- 10-Q · Quarterly report2026-10-09
- 8-K · Company announcement2026-09-28
- 8-K · Company announcement2026-07-15
- 10-Q · Quarterly report2026-07-09
- 8-K · Company announcement2026-07-08
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Jefferies Financial Group Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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