Filing Flows › Jefferies Financial Group (JEF) › Q4 FY25
Jefferies Financial Group (JEF) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Jan 28, 2026
Jefferies Financial Group (JEF) reported revenue of $2.9B for the fourth quarter fiscal 2025 (Q4 FY25), +3% from a year earlier and +1% from the quarter before. Operating margin was 8.4%, net earnings $191M (6.5% of revenue).
Jefferies Financial Group, Q4 FY25: revenue $2.9B (+3% year over year), operating margin 8.4%, net earnings $191M, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +1% | +3% |
| Operating profit | $249M | -25% | -20% |
| Net earnings | $191M | -15% | -8% |
| Operating cash flow | $2.0B | +966% | +15% |
| Free cash flow | $1.9B | 15× | +16% |
What changed
Revenue was $2.9B in Q4 FY25, up 3% year over year and up 1% from the previous quarter. Interest was the largest line at 28% of revenue.
Operating profit was $0.25B, a 8.4% margin (down 2.4 points year over year). Operating profit fell $0.06B even though revenue rose $0.10B versus a year earlier, so costs grew faster than sales. Total costs grew 6% against revenue growth of 3%. Net earnings were $0.19B, down 8% year over year. The effective tax rate was 15.1%.
Operating cash flow was $2.0B (up 15% year over year), 930% of net income including minority interests. Non-cash charges added back $0.06B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $1.7B. Capital expenditures of $0.06B left free cash flow of $1.9B.
Questions
What was Jefferies Financial Group's revenue in the fourth quarter fiscal 2025?
Jefferies Financial Group (JEF) reported revenue of $2.9B for the fourth quarter fiscal 2025 (Q4 FY25), +3% from a year earlier and +1% from the quarter before.
Was Jefferies Financial Group profitable in the fourth quarter fiscal 2025?
Operating profit was $249M (8.4% of revenue) and net earnings $191M.