JEF
Jefferies Financial Group Inc.Financial Services·Financial - Capital Markets
$52.74
$10.8B market cap
Revenue
$5.8B
Free Cash Flow
$802.0M
Rev Growth
+0.0%
FCF Margin
13.8%
P/FCF
13.4x
EV/FCF
38.8x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Jefferies Financial Group Inc. engages in the investment banking and capital markets, and asset management businesses in the Americas, Europe, the Middle East, Africa, and Asia. The company operates in Investment Banking and Capital Markets, Asset Management, Merchant Banking, and Corporate segments. It provides investment banking, advisory services with respect to mergers or acquisitions, restructurings or recapitalizations and private capital advisory transactions; equity and debt underwriting
2-Year Price History
$51.98+17.8%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 2,871 | 1,123 | 1,188 | 175.2 | -1,037 | -1,102 | -64.9 | 11,963 | 32,306 | 222.7 | 12.7% | 1.3x | -- |
| Act | 2025-Q4 | 2,949 | -1,436 | -1,739 | 215.0 | 1,960 | 1,904 | -56.0 | 14,044 | 23,758 | 222.7 | -25.6% | -1.6x | -- |
Valuation & Metrics
Market Stats
Price$52.74
Market Cap$10.8B
Enterprise Value$31.1B
P/S Ratio1.9x
P/FCF13.4x
EV/FCF38.8x
FCF Margin (TTM)13.8%
FCF Yield7.4%
Dividend Yield (TTM)3.8%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$5.8B
Net Income$390.2M
Free Cash Flow$802.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin-5.4%
Net Margin6.7%
FCF Margin13.8%
CapEx % of Revenue2.1%
SBC % of Revenue1.2%
ROIC-6.4%
WC Change % Rev-20.5%
Interest Coverage-0.2x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares4.0M
Days to Cover1.9
Change (vs Prior)-13.4%
Need at least 2 settlement dates for chart
Employees
Headcount7,701
Revenue / Employee$755,758
Gross Profit / Employee$438,919
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
36.3%(-12.8% YoY)
523 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
17.5%(-4.2% YoY)
12 filers
Vanguard, iShares, SPDR
Market makers
0.6%(+0.2% YoY)
10 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $725M | $58.10 | +$49.3M | +$71.1M | -0.2% | $5.69T |
| SUMITOMO MITSUI FINANCIAL GROUP, INC. | $382M | $23.41 | +$0 | +$0 | +0.2% | $4.92B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $323M | $40.95 | +$320M | +$323M | — | $1.91T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $277M | $40.95 | +$275M | +$277M | — | $4.04T |
| ALLIANCEBERNSTEIN L.P. | $235M | $59.20 | −$73.1M | −$187M | -0.3% | $307.70B |
| AQR CAPITAL MANAGEMENT LLC | $216M | $53.21 | +$76.6M | +$206M | -0.2% | $218.19B |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | $204M | $39.94 | +$131M | +$123M | +0.5% | $30.45B |
| STATE STREET CORPPassive | $202M | $48.05 | +$5.4M | −$8.3M | -0.2% | $2.89T |
| MASSACHUSETTS MUTUAL LIFE INSURANCE CO | $192M | $58.72 | +$0 | −$36K | +4.2% | $2.17B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $126M | $42.93 | +$4.3M | +$3.3M | +2.3% | $1.61T |
| TWO SIGMA INVESTMENTS, LP | $117M | $41.71 | +$106M | +$72.9M | -0.9% | $117.03B |
| MORGAN STANLEY | $116M | $49.04 | +$11.8M | +$19.6M | -0.3% | $1.65T |
| DIMENSIONAL FUND ADVISORS LPPassive | $110M | $38.79 | +$2.4M | +$2.2M | -0.4% | $480.92B |
| D. E. Shaw & Co., Inc. | $108M | $47.59 | +$61.8M | +$108M | -0.3% | $118.02B |
| First Pacific Advisors, LP | $107M | $31.72 | +$255K | +$234K | +0.6% | $7.00B |
| JPMORGAN CHASE & CO | $75.5M | $60.30 | −$2.2M | −$128M | -0.2% | $1.47T |
| BARCLAYS PLC | $71.8M | $43.94 | +$12.5M | −$43.8M | -0.1% | $279.69B |
| BAMCO INC /NY/ | $63.2M | $41.67 | +$38.2M | +$47.5M | -2.4% | $33.05B |
| NORTHERN TRUST CORPPassive | $59.9M | $45.26 | +$1.4M | −$4.1M | -0.2% | $755.34B |
| Bank of New York Mellon Corp | $58.0M | $46.56 | −$990K | −$12.3M | -0.2% | $543.21B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
+0.09%
avg per quarter
Holders (ex-self)
+0.17%
excl. this stock
Buyers (this Q)
-0.26%
131 buyers · $1.26B in
Sellers (this Q)
-0.28%
180 sellers · $1.63B out
alpha coverage: 89% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-30.5%
how holders react when this stock falls
On quiet Qs
+9.1%
−10% to +10% baseline
On rallies (+10%+)
-11.5%
how they react when this stock rises
Holders' portfolio flow this Q
+4.6%
inflows — adds are organic
Sellers' portfolio flow this Q
+1.6%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-2.7%
Holder mid (any stock)
-3.7%
Holder rally (any stock)
-6.4%
Biggest decreases this quarter
Alyeska Investment Group, L.P.exited−$246MEMINENCE CAPITAL, LPexited−$236MALLIANCEBERNSTEIN L.P.−$73.1Mα-0.3Artemis Investment Management LLPexited−$61.0MMunro Partnersexited−$60.5MGOLDMAN SACHS GROUP INC−$28.4Mα-0.2VR Advisory Services Ltdexited−$6.7MLansforsakringar Fondforvaltning AB (publ)exited−$5.5MPICTON MAHONEY ASSET MANAGEMENTexited−$3.9MPolar Asset Management Partners Inc.exited−$3.1M
New buyers this quarter
Top-5 holders · 33.3%
BlackRock, Inc.--
SUMITOMO MITSUI FINANCIAL GROUP, INC.--
VANGUARD PORTFOLIO MANAGEMENT LLC--
VANGUARD CAPITAL MANAGEMENT LLC--
ALLIANCEBERNSTEIN L.P.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
SUMITOMO MITSUI FINANCIAL GROUP, INC.9.2MCITIGROUP INC96KAllspring Global Investments Holdings, LLC13KALLIANCEBERNSTEIN L.P.3.8MFMR LLC860KInvesco Ltd.399KMASSACHUSETTS MUTUAL LIFE INSURANCE CO4.7MJPMORGAN CHASE & CO1.9MGOLDMAN SACHS GROUP INC1.1MFirst Pacific Advisors, LP2.6M
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Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (3 analysts)$49.00-710.0%
Last Year (10 analysts)$67.302760.0%
Current Price$52.74
Analyst Ratings
5
4
Buy: 5Hold: 4Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$310.02M
1 txn · 1 insider · 6,429,337 sh
Sells ($, 12mo)
$52
1 txn · 1 insider · 1 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-06 | SELL | FRIEDMAN BRIAN P | director, officer: President | 1 | $51.90 | $52 | $106.99M |
| 2026-05-01 | BUY | SUMITOMO MITSUI FINANCIAL GROUP, INC. | director | 6,429,337 | $48.22 | $310.02M | $310.02M |
Order Flow (FINRA, ~3w lag)
12.9%retail-3.6pp
24.4%dark-3.7pp
week of 2026-04-27
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Jefferies Financial Group Inc.: Massive Off-Balance Sheet Exposure and Negative Cash Flows Lurk Beneath Growing Revenue
Overall Risk
6/10
Fraud
3/10
Dilution
4/10
Insolvency
5/10
Earnings Overstated
6/10
Hidden Liabilities
8/10
Legal
3/10
Audit Warnings
2/10
Hidden Upside
4/10
Contextually Acceptable
7/10