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Running on Clouds: The Story of On
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Jefferies Financial Group
Jefferies Financial Group (JEF) investor relations material
Jefferies Financial Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary7 Jan, 2026
Executive summary
Net earnings attributable to common shareholders were $191 million for Q4 2025 ($0.87 per diluted share), or $213 million ($0.96 per share) excluding a $30 million pre-tax loss on Point Bonita investment.
Total net revenues reached $2.07 billion, up from $1.96 billion in Q4 2024, driven by strong Investment Banking and Equities performance.
Book value per common share was $51.26; adjusted tangible book value per fully diluted share was $33.69 at quarter end.
Quarterly cash dividend of $0.40 per share declared, payable February 27, 2026.
Financial highlights
Q4 2025 net earnings attributable to common shareholders: $191 million, down from $206 million in Q4 2024.
Adjusted net earnings (excluding Point Bonita): $213 million, up from $206 million in Q4 2024.
Diluted EPS from continuing operations: $0.87 (Q4 2025) vs. $0.91 (Q4 2024); adjusted EPS: $0.96 (Q4 2025).
Return on adjusted tangible shareholders' equity: 11.8% (Q4 2025); adjusted return: 12.9%.
Effective tax rate dropped to 14.8% from 28.2% due to resolution of certain tax matters.
Outlook and guidance
Management anticipates continued market share gains and margin improvement, supported by ongoing technology investments and a potentially more favorable operating environment.
Is Point Bonita loss indicative of broader AM issues?
Impact of equity derivative reclassification?
Are rising non-comp expenses yielding expected returns?
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Next Jefferies Financial Group earnings date
Q1 202627 Mar, 2026
Jefferies Financial Group
Next Jefferies Financial Group earnings date
Q1 202627 Mar, 2026
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Frequently asked questions
A client-centric investment bank
Jefferies is an investment bank that provides a wide range of financial services to clients worldwide. With expertise in areas such as investment banking, capital markets, and asset management, Jefferies offers strategic advisory services, underwriting of securities, mergers and acquisitions, and other corporate finance solutions. The firm focuses on building strong relationships with clients, leveraging their deep industry knowledge and global network to deliver a service tailored to the client’s objectives and needs.
A global reach
Jefferies has a rich history that dates back to its founding in 1962. Over the years, the company has grown to become a global investment bank with a presence in major financial centers around the world. With offices in North America, Europe, and Asia, Jefferies operates across international markets, serving clients globally. The firm has a strong track record in providing financial solutions and advisory services to corporations, institutions, and governments.
A diverse offering of financial services
Jefferies offers a wide range of financial services and solutions to meet the diverse needs of its clients. These services include investment banking, capital markets, asset management, and securities research. Some of their competitors include other financial institutions such as Goldman Sachs and JPMorgan.
In investment banking, Jefferies provides advisory services for mergers and acquisitions, debt and equity offerings, and restructuring transactions. The capital markets division of the company offers underwriting and distribution capabilities for various securities. The asset management arm focuses on managing investment portfolios and providing investment strategies in close correspondence with the client in question. Jefferies also has their own securities research department which provides insights and analysis on investment opportunities in global markets, industries, and companies.
Client centric approach
Jefferies works under the motto “Clients first-always”. Operating under a client centric approach is something that most investment banks do, but Jefferies takes great pride in providing their clients with solutions that are tailored to their specific needs and objectives. Putting the client first has become part of the culture at Jefferies, and is a crucial building block of the organization.
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