JEF financial statements

The full income statement, balance sheet, and cash-flow statement for Jefferies Financial Group Inc. (JEF), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-05 205.5M2024-08 205.5M2024-11 206.1M2025-02 206.3M2025-05 206.3M2025-08 206.3M2025-11 206.7M2026-02 204.4M2026-05 203.4M-1.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofNov 30 ’25	as ofNov 30 ’24	as ofNov 30 ’23	as ofNov 30 ’22	as ofNov 30 ’21
	10.8B YoY+2.9%	10.5B YoY+41.3%	7.44B YoY+4.1%	7.15B YoY-20.1%	8.95B YoY+30.0%
Lease income	6.90M YoY-66.7%	20.7M	—	—	—
Cost of revenue	191M YoY-7.4%	206M YoY+600.8%	29.4M YoY-93.3%	441M YoY-6.4%	471M YoY+39.1%
Selling, general & administrative	—	—	—	—	0.00
General & administrative	—	—	—	—	0.00
Amortization of intangibles	33.5M YoY+10.6%	30.3M YoY+225.8%	9.30M YoY-14.7%	10.9M YoY-23.2%	14.2M YoY-7.2%
Noninterest expense	6.47B YoY+7.4%	6.03B YoY+38.7%	4.35B YoY-11.7%	4.92B YoY-14.5%	5.76B YoY+20.4%
Provision for credit losses	24.4M YoY-53.4%	52.5M YoY-21.7%	67.0M YoY+43.0%	46.8M YoY-16.2%	55.9M YoY+16.0%
Interest expense	—	—	2.74B YoY+134.2%	1.17B YoY+25.6%	932M YoY-9.5%
Interest & investment income	1.00M YoY-67.7%	3.10M	—	—	—
Equity-method income	95.3M YoY+10.2%	86.5M YoY+145.0%	-192M YoY-429.5%	-36.3M YoY-124.2%	150M YoY+299.3%
Pre-tax income	871M YoY-13.4%	1.01B YoY+183.8%	354M YoY-66.4%	1.06B YoY-53.2%	2.25B YoY+111.2%
Income tax	185M YoY-37.0%	293M YoY+219.1%	91.9M YoY-66.4%	274M YoY-52.5%	577M YoY+93.1%
	682M YoY-4.7%	716M YoY+172.9%	262M YoY-66.4%	782M YoY-53.1%	1.67B YoY+116.7%
Discontinued operations	-4.37M YoY-219.3%	3.67M	0.00	0.00	—
Net income to non-controlling interest	—	—	—	-2.40M YoY-162.3%	3.85M YoY+173.0%
Preferred dividends	44.1M YoY+38.2%	31.9M YoY+153.2%	12.6M	—	—
Net income to common	631M YoY-5.7%	669M YoY+156.5%	261M YoY-66.3%	774M YoY-53.3%	1.66B YoY+116.7%
	$2.83 YoY-5.4%	$2.99 YoY+171.8%	$1.10 YoY-64.1%	$3.06 YoY-50.1%	$6.13 YoY+131.3%
EPS (basic)	$2.93 YoY-4.9%	$3.08 YoY+175.0%	$1.12 YoY-64.2%	$3.13 YoY-50.2%	$6.29 YoY+134.7%
	215M YoY-0.9%	217M YoY-6.7%	233M YoY-6.0%	247M YoY-6.2%	264M YoY-7.7%
	223M YoY-0.4%	224M YoY-5.5%	237M YoY-7.4%	256M YoY-5.9%	272M YoY-6.5%
Dividends per share	$1.60 YoY+23.1%	$1.30 YoY+8.3%	$1.20 YoY+0.0%	$1.20 YoY+33.3%	$0.90 YoY+50.0%
Balance Sheet	as ofNov 30 ’25	as ofNov 30 ’24	as ofNov 30 ’23	as ofNov 30 ’22	as ofNov 30 ’21
Cash & equivalents	14.0B YoY+15.6%	12.2B YoY+42.5%	8.53B YoY-12.1%	9.70B YoY-9.8%	10.8B YoY+18.8%
	76.0B YoY+18.1%	64.4B YoY+11.1%	57.9B YoY+13.4%	51.1B YoY-9.0%	56.1B YoY+5.6%
Operating lease right-of-use	526M YoY-5.1%	554M YoY+21.6%	455M YoY+0.0%	455M YoY-3.5%	472M YoY-6.9%
Goodwill	1.84B YoY+0.5%	1.83B YoY-1.1%	1.85B YoY+6.4%	1.74B YoY-0.5%	1.75B YoY-0.1%
Intangible assets	203M YoY-10.5%	226M YoY+15.0%	197M YoY+41.2%	139M YoY-8.5%	152M YoY-8.8%
Deferred revenue	92.3M YoY+16.7%	79.1M YoY+63.8%	48.3M YoY+78.9%	27.0M YoY-45.7%	49.7M
Short-term & current debt	1.77B YoY+298.8%	443M YoY-55.2%	990M YoY+87.3%	528M YoY+138.2%	222M YoY-71.0%
	65.4B YoY+20.8%	54.1B YoY+12.5%	48.1B YoY+18.4%	40.6B YoY-10.5%	45.4B YoY+4.2%
Long-term debt	15.9B YoY+17.5%	13.5B YoY+39.5%	9.70B YoY+10.5%	8.77B YoY-3.9%	9.13B YoY+9.3%
Operating lease liability (total)	593M YoY-6.4%	633M YoY+16.4%	544M YoY+2.1%	533M YoY-2.8%	548M YoY-6.2%
Finance lease liability (total)	1.30M YoY-38.2%	2.10M YoY+207.9%	683K YoY-32.1%	1.01M YoY+339.3%	229K YoY-36.7%
	10.6B YoY+4.1%	10.2B YoY+4.6%	9.71B YoY-5.1%	10.2B YoY-3.0%	10.6B YoY+12.2%
Preferred stock	55.0K YoY+0.0%	55.0K YoY+31.0%	42.0K	0.00	—
Common stock	—	—	—	226M YoY-7.1%	244M YoY-2.5%
Additional paid-in capital	2.18B YoY+3.5%	2.10B YoY+2.9%	2.04B YoY+3.9%	1.97B YoY-28.2%	2.74B YoY-5.8%
Retained earnings	8.57B YoY+3.7%	8.27B YoY+5.4%	7.85B YoY-6.8%	8.42B YoY+6.0%	7.94B YoY+21.6%
Accumulated other comprehensive income	-384M YoY+9.1%	-423M YoY-7.0%	-396M YoY-4.3%	-379M YoY-2.0%	-372M YoY-28.8%
Non-controlling interest	67.5M YoY-1.0%	68.2M YoY-26.1%	92.3M YoY+47.4%	62.6M YoY+142.0%	25.9M YoY-25.3%
Total equity incl. non-controlling	10.6B YoY+4.1%	10.2B YoY+4.3%	9.80B YoY-4.8%	10.3B YoY-2.7%	10.6B YoY+12.1%
Total liabilities & equity	76.0B YoY+18.1%	64.4B YoY+11.1%	57.9B YoY+13.4%	51.1B YoY-9.0%	56.1B YoY+5.6%
	—	—	211M YoY-6.9%	226M YoY-7.1%	244M YoY-2.5%
	206M	—	211M YoY-6.9%	226M YoY-7.1%	244M YoY-2.5%
	207M YoY+0.3%	206M YoY-2.8%	212M YoY-6.3%	226M YoY-6.5%	242M YoY-3.7%
Cash Flow	as ofNov 30 ’25	as ofNov 30 ’24	as ofNov 30 ’23	as ofNov 30 ’22	as ofNov 30 ’21
	-1.50B YoY-964.4%	-140M YoY+92.7%	-1.93B YoY-207.1%	1.80B YoY+14.1%	1.58B YoY-23.0%
Depreciation & amortization	192M YoY+1.0%	190M YoY+69.6%	112M YoY-35.1%	173M YoY+9.8%	157M YoY-0.6%
Intangible amortization	33.5M YoY+10.6%	30.3M YoY+225.8%	9.30M YoY-14.7%	10.9M YoY-23.2%	14.2M YoY-7.2%
Share-based compensation	88.2M YoY+39.8%	63.1M YoY+39.2%	45.4M YoY+3.3%	43.9M YoY-43.8%	78.2M YoY+95.2%
Deferred income taxes	110M YoY+2761.3%	-4.13M YoY-139.5%	10.5M YoY+114.9%	-70.4M YoY-172.7%	96.9M YoY+49.8%
	-299M YoY-242.1%	210M YoY+1823.3%	-12.2M YoY+79.8%	-60.5M YoY+85.2%	-410M YoY-147.4%
Capital expenditure	207M YoY-17.2%	251M YoY+21595.6%	1.16M YoY-99.5%	224M YoY+35.4%	166M YoY-6.4%
Free cash flow	-1.70B YoY-335.4%	-391M YoY+79.8%	-1.93B YoY-222.4%	1.58B YoY+11.6%	1.42B YoY-24.6%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Other investing activities	—	0.00	0.00 YoY+100.0%	-8.64M YoY-836.0%	1.17M YoY+127.9%
	—	—	1.06B YoY+137.3%	-2.84B YoY-386.0%	994M YoY+237.4%
Long-term debt issued	6.04B YoY+1.5%	5.95B YoY+169.4%	2.21B YoY+84.4%	1.20B YoY-51.8%	2.49B YoY+64.1%
Long-term debt repaid	4.06B YoY+67.2%	2.43B YoY+89.3%	1.28B YoY+55.5%	825M YoY-49.9%	1.65B YoY-4.1%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	58.5M YoY+32.1%	44.3M YoY-73.8%	169M YoY-80.3%	860M YoY+219.1%	269M YoY-67.0%
Dividends paid	374M YoY+23.5%	303M YoY+8.7%	279M YoY-0.5%	280M YoY+25.7%	223M YoY+38.4%
Other financing activities	13.2M YoY+115.8%	6.10M YoY+0.7%	6.06M YoY+120.2%	2.75M YoY+52.5%	1.80M YoY+74.5%
FX effect on cash	—	—	—	-22.1M YoY-553.8%	-3.39M YoY-118.5%
Net change in cash	1.80B YoY-46.4%	3.35B YoY+503.0%	-831M YoY+25.9%	-1.12B YoY-151.8%	2.16B YoY+82.6%
Interest paid	3.48B YoY+1.1%	3.44B YoY+46.5%	2.35B YoY+101.7%	1.16B YoY+24.3%	936M YoY-13.3%
Income taxes paid	292M YoY+13.4%	258M YoY+61.6%	159M YoY-25.6%	214M YoY-70.6%	727M YoY+2908404.0%
Valuation Ratios	as ofNov 30 ’25	as ofNov 30 ’24	as ofNov 30 ’23	as ofNov 30 ’22	as ofNov 30 ’21
Market cap	11.9B YoY-27.0%	16.3B YoY+116.5%	7.51B YoY-8.6%	8.21B YoY-5.5%	8.69B YoY+59.3%
P/E	17.1× YoY-40.9%	28.9× YoY+1.0%	28.6× YoY+172.4%	10.5× YoY+101.6%	5.2× YoY-26.5%
P/S	1.1× YoY-34.4%	1.7× YoY+67.3%	1.0× YoY-12.1%	1.1× YoY+18.3%	1.0× YoY+22.5%
P/B	1.1× YoY-29.7%	1.6× YoY+109.3%	0.8× YoY-3.6%	0.8× YoY-2.5%	0.8× YoY+41.9%
P/FCF	—	—	—	5.2× YoY-15.3%	6.1× YoY+111.2%
	5.9% YoY+69.1%	3.5% YoY-1.0%	3.5% YoY-63.3%	9.5% YoY-50.4%	19.2% YoY+36.0%
	—	—	—	19.2% YoY+18.0%	16.3% YoY-52.6%
	2.8% YoY+69.2%	1.6% YoY-51.5%	3.4% YoY+2.5%	3.3% YoY+31.9%	2.5% YoY-9.3%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: JEF's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all JEF filings on SEC EDGAR → Not investment advice.