Interest was Jefferies Financial’s largest product and service line in fiscal 2025, bringing in $6.86B of $14.16B (48%).
| Product and Service | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Investment Banking | $5.62B | $4.34B | $6.61B | $45.12M | ||||
| Interest | — | — | — | $6.86B | ||||
| Interest Income | — | — | — | — | ||||
| Investment Banking - Advisory | — | $2.40B | $3.62B | — | ||||
| Principal Transactions | — | — | — | $3.22B | ||||
| Investment Banking - Underwriting | $2.06B | $1.94B | — | — | ||||
| Equities | $1.82B | — | $2.15B | — | ||||
| Commissions & Other Fees | $1.85B | — | — | $2.65B | ||||
| Merchant Banking | — | — | — | — | ||||
| Other | — | — | — | — | ||||
| Other Investments | — | $249.59M | $842.27M | — | ||||
| Other Investments 1 | $1.97B | — | — | — | ||||
| Manufacturing Revenues | — | — | — | — | ||||
| Other, Pre-Reclass | — | — | — | — | ||||
| Internet Connection & Broadband Revenues | — | — | $481.75M | — | ||||
| Oil & Gas Revenues | $604.27M | — | — | — | ||||
| Other Contracts With Customers | $95.91M | $158.97M | $118.78M | $1.12B | ||||
| Real Estate Revenues | $446.65M | $89.65M | $238.10M | — | ||||
| Revenue From Contract With Customer, Miscellaneous | — | — | — | — | ||||
| Asset Management Fees | $47.05M | $67.73M | $101.40M | $261.35M | ||||
| Asset Management | $47.05M | $67.73M | $101.40M | — | ||||
| Asset Management Services | — | — | — | — | ||||
| Fixed Income | $30.48M | $21.15M | $17.72M | — | ||||
| Total | $14.59B | $9.33B | $14.28B | $14.16B |
Jefferies Financial brought in $14.16B from its six product and service lines in fiscal 2025, the year ended November 30, 2025. That is less than the $21.27B it reports by geography, so these lines do not cover all of its revenue. Interest was the largest at $6.86B (48.5%), ahead of Principal Transactions at $3.22B (22.8%) and Commissions & Other Fees at $2.65B (18.7%). The other three lines brought in $1.42B combined.
Jefferies Financial began breaking out Interest in fiscal 2025, when it brought in $6.86B. Jefferies Financial stopped reporting Investment Banking - Advisory ($3.62B in fiscal 2024), Equities ($2.15B in fiscal 2024), Other Investments 1 ($1.97B in fiscal 2022) and seven others as separate lines.
Investment Banking & Capital Markets was Jefferies Financial’s largest segment in fiscal 2025, bringing in $10.18B of $11.09B (92%).
| Segment | FY 2011 | FY 2012 | FY 2013 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| National Beef | — | — | — | — | |||||||
| Investment Banking & Capital Markets | $3.56B | $4.70B | $3.62B | $10.18B | |||||||
| Merchant Banking | — | — | — | — | |||||||
| Asset Management | $2.02B | $317.33M | $943.67M | $916.44M | |||||||
| Other Operations | — | — | — | — | |||||||
| Corporate | — | — | — | — | |||||||
| Corporate & Other | — | — | — | — | |||||||
| Total | $5.58B | $5.02B | $4.57B | $11.09B |
Jefferies Financial brought in $11.09B from its two segments in fiscal 2025, the year ended November 30, 2025. That is less than the $21.27B it reports by geography, so these segments do not cover all of its revenue. Investment Banking & Capital Markets was the largest at $10.18B (91.7%), ahead of Asset Management at $916.44M (8.3%).
Compared with fiscal 2024, Investment Banking & Capital Markets grew 180.9% to $10.18B, while Asset Management fell 2.9% to $916.44M.
Americas was Jefferies Financial’s largest region in fiscal 2025, bringing in $15.29B of $21.27B (72%).
| Geography | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Americas | $13.65B | $7.25B | $13.23B | $15.29B | ||||
| Europe & The Middle East | $5.19M | $1.55B | $490.60M | $4.32B | ||||
| Europe | — | — | — | — | ||||
| Asia-Pacific | $502.96M | $597.80M | $6.96M | $1.66B | ||||
| Asia | — | — | — | — | ||||
| Asia Pacific | — | — | — | — | ||||
| Total | $14.16B | $9.40B | $13.73B | $21.27B |
Jefferies Financial brought in $21.27B from its three regions in fiscal 2025, the year ended November 30, 2025. That was up 54.9% from $13.73B in fiscal 2024. Americas was the largest at $15.29B (71.9%), ahead of Europe & The Middle East at $4.32B (20.3%) and Asia-Pacific at $1.66B (7.8%).
Compared with fiscal 2024, Asia-Pacific grew fastest, up 23,738.4% to $1.66B. Every region above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these regions grew from $14.16B to $21.27B, a compound annual growth rate of 14.5%. Americas' share of the total fell from 96.4% to 71.9%.
Jefferies Financial (JEF) reports its revenue by product and service, by segment and by geography. In fiscal 2025, Interest was its largest product and service line, bringing in $6.86B (48.5% of the total), followed by Principal Transactions at $3.22B (22.8%).
Interest was Jefferies Financial's largest product and service line in fiscal 2025, bringing in $6.86B, or 48.5% of the $14.16B total across its six product and service lines.
Investment Banking & Capital Markets was Jefferies Financial's largest segment in fiscal 2025, bringing in $10.18B, or 91.7% of the $11.09B total across its two segments.
Americas was Jefferies Financial's largest region in fiscal 2025, bringing in $15.29B, or 71.9% of the $21.27B total across its three regions.
Investment Banking & Capital Markets grew faster than Asset Management in fiscal 2025, up 180.9% from $3.62B to $10.18B. Asset Management fell 2.9% to $916.44M.
Every figure comes from Jefferies Financial's annual financial filings, as reported. Each line keeps the name Jefferies Financial gives it, and years follow its fiscal calendar.
Jefferies Financial's revenue by product and service goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.