Jefferies Financial Group Inc.

For the period ended Nov 30, 2025. Filed Jan 28, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Jan 28, 2026

JEF$48.06-2.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Results of Operations

Overview

$ in thousands	2025	2024	% Change
Net revenues ....................................................	$7,343,751	$7,034,803	4.4%
Non-interest expenses ....................................	6,472,762	6,029,257	7.4%
Earnings from continuing operations before income taxes ...................................	870,989	1,005,546	(13.4)%
Income tax expense from continuing operations ....................................................	184,570	293,194	(37.0)%
Net earnings from continuing operations .....	686,419	712,352	(3.6)%
Net (losses) earnings from discontinued operations, net of income taxes ...............	(4,374)	3,667	N/M
Net losses attributable to noncontrolling interests .......................................................	(28,430)	(27,364)	3.9%
Preferred stock dividends ...............................	79,684	74,110	7.5%
Net earnings attributable to common shareholders ................................................	630,791	669,273	(5.7)%
Effective tax rate from continuing operations ...................................................	21.2%	29.2%
$ in thousands	2024	2023	% Change
Net revenues ....................................................	$7,034,803	$4,700,417	49.7%
Non-interest expenses ....................................	6,029,257	4,346,148	38.7%
Earnings from continuing operations before income taxes ...................................	1,005,546	354,269	183.8%
Income tax expense from continuing operations ....................................................	293,194	91,881	219.1%
Net earnings from continuing operations .....	712,352	262,388	171.5%
Net losses from discontinued operations, net of income taxes ....................................	3,667	—	N/M
Net losses attributable to noncontrolling interests .......................................................	(27,364)	(14,846)	84.3%
Net losses attributable to redeemable noncontrolling interests .............................	—	(454)	(100.0)%
Preferred stock dividends ...............................	74,110	14,616	407.0%
Net earnings attributable to common shareholders ................................................	669,273	263,072	154.4%
Effective tax rate from continuing operations ...................................................	29.2%	25.9%

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.