JEF

Jefferies Financial Group is a full-service investment bank and capital-markets firm whose results are inherently cyclical, driven by investment-banking fees and principal trading. FY2025 showed a top-line recovery — revenue grew 14.2% to $5.55B — but the bottom line did not follow: net income fell 4.7% to $682M and diluted EPS slipped 5.4% to $2.83, leaving return on equity at a modest 6.4%. The multi-year swings are stark: net income ran from $1.68B (FY2021) down to a $262M trough (FY2023) and has rebuilt to $682M, underscoring how volatile and market-dependent this franchise is. (Note the operating-income and operating-margin figures in the data are mis-tagged to old periods and are not meaningful for a broker-dealer.)

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