Jefferies Financial (JEF) Operating Margin (2009 - 2026)

Jefferies Financial (JEF) has reported Operating Margin for 18 consecutive years, with 38.36% the latest figure, recorded in Q2 2026.

• For the quarter ending Q2 2026, Operating Margin rose 20.0% year-over-year to 38.36%; the trailing twelve-month figure through May 2026 stood at 37.58% (down 248.0% YoY), and the FY2025 full-year result was 38.43%, down 226.0% from the prior year.
• Operating Margin climbed to 38.36% in Q2 2026 per JEF's latest filing, from 36.1% in the prior quarter.
• Across five years, Operating Margin topped out at 46.46% in Q3 2023 and bottomed at 18.45% in Q2 2022.
• Historically, Operating Margin has averaged 36.34% across 5 years, with a median of 38.26% in 2026.
• The sharpest annual moves came in 2022 and 2023: Operating Margin tumbled 785 bps in 2022, then jumped 1966 bps in 2023.
• Over 5 years, Operating Margin stood at 26.18% in 2022, then surged by 62 bps to 42.44% in 2023, then fell by 9 bps to 38.68% in 2024, then decreased by 7 bps to 35.99% in 2025, then grew by 7 bps to 38.36% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 38.36%, 36.1%, and 35.99% for Q2 2026, Q1 2026, and Q4 2025 respectively.