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Jefferies Financial Group Inc.

JEF Financial Capital Markets

Jefferies Financial Group Inc.’s revenue for fiscal 2025 (year ended November 2025) was $7.3 billion, up 4.39% from fiscal 2024.

Revenue
+8.52%
EPS
+17.3%
Free cash flow
+1,563.1%
Total debt
+21.4%

Quarter to August 2026, against a year earlier

48.27 0.33 −0.68%
Market cap
$11.2B
P/E
12.7×
Fwd P/E
12.4×
Dividend yield
3.27%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Jefferies Financial Group Inc. (JEF) valuation and DCF model

What the price implies · reverse DCF

At $48.27 the price implies 10.3% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 19.0% a year over the last ten years, 24.8% over the last five. The price asks for less than its ten-year rate. Return on equity averaged 7.1% over ten years; the price implies 8.3% for good.

Price implies
10.3%
Last 5 years, reported
24.8%
Last 10 years, reported
19.0%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
10.3% a year for ten years
$48.27
today’s price
Its base case
19.0% a year for five years, then 11.4%
$71.59
48.3% above today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Jefferies Financial Group Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to August 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 10.3% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Jefferies Financial Group Inc.’s own cost of capital: risk-free 4.3% + beta 1.52 × equity premium 4.5% = 11.1% cost of equity; weighted, 11.1%.

Use 11.1%
Base case value per share $71.59 ten years discounted, and what follows
Current price $48.27 market price per share
Above today’s price 48.3% upside at the base case’s assumptions

How we got there$25.24 10 years of dividends+$46.35 terminal value=$71.59 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Capital Markets).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 12.70× 20.12× 16.52× 23% below 14.35× 11% below
P/FCF 2.33× 21.52× 17.29× 87% below 9.28× 75% below
P/B 0.90× 1.09× 0.92× 2% below 1.36× 34% below
EV/EBITDA — 12.80× 13.24× — 3.38× —
EV/Sales — 3.46× 4.96× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
0.73×1.02×1.31×1.60×10Y avg 0.92×2017201820192020202120222023202420252026

JEF trades at 0.90× P/B, against a 10-year average of 0.92× (range 0.65×–1.66×). That is dearer than 78% of the last 9 year-end readings; re-rating to the average implies $49.05 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.