Jefferies Financial Group Inc. revenue by segment JEF

Annual Quarterly

Jefferies Financial Group Inc. splits its revenue 2 ways in its filings. By operating segments, the largest line in fiscal 2025, which ended Nov 30, 2025 was Investment Banking And Capital Markets at $5.1 billion, 92% of the total. By sales mix, the largest line in fiscal 2025, which ended Nov 30, 2025 was Investment Banking Underwriting at $1.6 billion, 30% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line	FY 2026 Aug 31, 2026	FY 2025 Nov 30, 2025	FY 2024 Nov 30, 2024	FY 2023 Nov 30, 2023	FY 2022 Nov 30, 2022	FY 2021 Nov 30, 2021	FY 2020 Nov 30, 2020	FY 2019 Nov 30, 2019	FY 2018 Nov 30, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Revenue	6,553	5,546	4,858	3,233	4,743	6,142	3,923	2,790	3,120	5,049	3,848
Operating segments
Investment Banking And Capital Markets	6,198 +29.0% share 94.6%	5,088 +16.0% share 91.7%	4,386 +42.7% share 90.3%	3,075 -17.6% share 95.1%	3,733 -29.0% share 78.7%	5,262 share 85.7%	—	—	—	—	—
Asset Management	355 -49.1% share 5.4%	458 -2.9% share 8.3%	472 +197.4% share 9.7%	159 -84.3% share 4.9%	1,010 +14.7% share 21.3%	880 share 14.3%	—	—	—	—	—
Sales mix
Investment Banking Underwriting	2,057 +42.0% share 31.4%	1,642 +10.1% share 29.6%	1,491 +53.6% share 30.7%	970 share 30.0%	—	—	—	—	—	—	—
Principal Transactions Revenue	1,823 +9.3% share 27.8%	1,611 -11.3% share 29.0%	1,817 share 37.4%	—	—	—	—	—	—	923 share 18.3%	—
Equities	1,481 +19.3% share 22.6%	1,294 +20.4% share 23.3%	1,075 +20.1% share 22.1%	895 -1.7% share 27.7%	910 share 19.2%	—	—	—	649 share 20.8%	—	—
Product And Service Other	583 -5.1% share 8.9%	558 -17.3% share 10.1%	674 +36595.4% share 13.9%	2 -99.9% share 0.1%	1,318 share 27.8%	—	—	—	558 +31.4% share 17.9%	425 share 8.4%	—
Internet Connection And Boadband Revenue	199 share 3.0%	228 -5.3% share 4.1%	241 share 5.0%	—	—	—	—	—	—	—	—
Asset Management1	99 -24.1% share 1.5%	131 +51.8% share 2.4%	86 share 1.8%	—	80 +11.3% share 1.7%	72 +390.3% share 1.2%	15 -36.6% share 0.4%	23 +9.3% share 0.8%	21 share 0.7%	—	—
Real Estate	64 -57.9% share 1.0%	95 -20.5% share 1.7%	119 share 2.5%	—	223 +118.3% share 4.7%	102 +283.1% share 1.7%	27 -16.7% share 0.7%	32 share 1.1%	—	—	—
Asset Management Services	19 -72.6% share 0.3%	68 +33.6% share 1.2%	51 +49.7% share 1.0%	34 +44.0% share 1.0%	24 +58.6% share 0.5%	15 share 0.2%	—	—	—	—	—
Fixed Income Services	7 -7.4% share 0.1%	7 -20.9% share 0.1%	9 -16.2% share 0.2%	11 -30.6% share 0.3%	15 +6.2% share 0.3%	14 -9.8% share 0.2%	16 +17.8% share 0.4%	14 -2.4% share 0.5%	14 share 0.4%	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

Company profile

Industry: Security Brokers, Dealers & Flotation Companies (SIC 6211)
Listed as: JEF (NYSE)
Fiscal year ends: November 30
Incorporated in: NY
Headquarters: New York, NY
SEC filer status: Large accelerated filer
SEC CIK: 96223
Former names: Jefferies Financial Group Inc. (until Nov 3, 2026); LEUCADIA NATIONAL CORP (until May 15, 2018)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.