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Jefferies Financial Group Inc (JEF) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of Jefferies Financial Group Inc stock $48.85, price $48.60, upside +0.5%, quality 47 out of 100. Rating: fairly valued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services US

JF Jefferies Financial Group Inc logo Broad data Nov 6, 2026

Jefferies Financial Group Inc

JEF · US
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Solidly profitable · 11.0% net margin (TTM) · excl. goodwill write-downs +11.7%
3.3% dividend yield · Low payout
Broad data
Fair value $48.85 · Fairly valued (+0.5%)
Quality 47/100
Expensive Growth (revenue YoY +2.9 %/yr in USD)
Mixed vs. peers (6/14)
Moderate moat 47/100 · thin data
Insiders bought $324.0M (6M)

Risks from the AI analysis

🚩Regulatory probes into lending practices🚩Reliance on short-term secured funding

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$77.79 $21.23 Fair Value $48.85 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range $21.23 – $77.79 · fair‑value band $43.21 – $61.06 · the $48.60 price screens below the $48.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.

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Company profile

Jefferies Financial Group Inc. operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. It operates in two segments, Investment Banking and Capital Markets, and Asset Management.

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The company provides investment banking and advisory services for mergers or acquisitions, debt financing, restructurings, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal debt, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.

It also offers financing, securities lending, and other prime brokerage services; equities research, sales, and trading services; wealth management services; and online foreign exchange trading services.

In addition, the company provides investment-grade distressed debt securities, U.S. and European government and agency securities, municipal bonds, leveraged loans, emerging markets debt, interest rates, and credit index derivative products; and manages and offers services to a diverse group of alternative asset management platforms across a spectrum of investment strategies and asset classes.

It serves public companies, private companies, sponsors and owners, institutional investors, and government entities. The company was formerly known as Leucadia National Corporation and changed its name to Jefferies Financial Group Inc. in May 2018.

Jefferies Financial Group Inc. was founded in 1962 and is headquartered in New York, New York.

Stock analysis

Jefferies Financial Group Inc (JEF) currently trades at $48.60, while our model-based Fair Value estimate is $48.85, so the stock looks roughly fairly valued today (gap 0.5%).

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Valuation

Bull case: the DCF Models group reads highest at a median of $201.13 per share, and 4 of the 9 models we run sit above the $48.60 price.

Bear case: the Dividend Discount group reads lowest at $26.72, and 5 of the 9 models stay below the price. Data coverage for this calculation is high.

Scenario range: $43.21 (bear) to $61.06 (bull), the price of $48.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Jefferies Financial Group Inc reported revenue of $10.8B in FY2025 versus $8.9B in FY2021, a compound +4.9%/yr. Reported net income was $710M in FY2025, compounding −19.3%/yr from FY2021.

Key figures

Market cap $10.8B Large · P/E ratio 12.1 · P/S ratio 1.27 · EPS (TTM) $3.75 · Dividend yield 3.3% · Net margin 11.0% · Return on equity 8.6% · Return on assets (EBIT) 5.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and 37% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −12% fair-value upside, at 1%, JEF screens cheaper than that median.

Fair Value models

Bear $43.21 Fair Value $48.85 Bull $61.06
Price $48.60 · Upside +0.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 11 months old). Earnings retained since then ($2.01 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income $43.21 $44.67 $48.21 76
Owner Earnings $114.32 $201.13 $327.72 74
Gordon GGM $16.01 $29.74 $42.07 67
All 9 models by family
DCF Models
Owner Earnings $114.32 $201.13 $327.72 74
Earnings-Based
Graham-Dodd $25.55 $96.84 $131.09 64
Lynch FV $23.49 $33.55 $43.62 61
Dividend Discount
Gordon GGM $16.01 $29.74 $42.07 67
DDM Multi-Stage $16.01 $26.72 $31.66 67
Multiples
P/E Multiple $36.63 $48.85 $61.06 63
P/B Multiple $47.39 $63.19 $78.99 55
Asset-Based
NCAV (Graham) $22.57 $30.24 $45.13 54
Economic Profit
Residual Income $43.21 $44.67 $48.21 76

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Quality Score breakdown

Overall quality 47/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 34
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 62
Debt, balance sheet and risk of trouble
Investment 76
Does it invest with discipline instead of growing at any price?
Low Volatility 30
How calm the share price moves, does not count
Price momentum 27
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 36
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director bought shares worth $324.0M, on Jul 15, 2026.

  • BuySUMITOMO MITSUI FINANCIAL GROUP, INC.Director2× since May 1, 2026: 12,335,879 shares, avg. $54.84$676.6MJul 15, 2026
  • SaleBrian P FriedmanPresident, Director1 shares at $51.90$52May 6, 2026

Plus 23 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 5, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 37/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+6.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.3%
Dividend (yield on the price)3.3%
Per share before 2023divided by the spin-off factor 1.046
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 1.9% / 19.6%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)

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Note from the team Oct 11, 2026
AI conclusion: Core capital markets activities deliver record revenues and backlog strength while asset management repositioning creates persistent performance pressure amid negative cash flows.
Main risk: Ongoing SEC, DOJ and investor lawsuits over exposure to collapsed borrowers like First Brands could result in fines, reputational damage and fewer investment banking mandates or asset management inflows.
Bull case: By strengthening risk controls and compliance in lending, Jefferies could rebuild client trust and use its capital markets franchise to win more mandates despite past scrutiny.
Bear case: If regulatory actions and lawsuits escalate, reputational harm could shrink the deal pipeline and asset management flows while funding costs rise, pressuring the core capital markets business.
Jefferies posted record revenues in investment banking and equities trading last quarter, which helped lift overall results despite a sharp drop in asset management fees and returns. The firm has a strong backlog and remains optimistic into 2027, yet repositioning that asset management platform continues to weigh on performance. Will the core capital markets franchise keep delivering enough to offset those ongoing asset management headwinds?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 384 stocks

Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +0.5% · Below median
Profitability
Return on equity (12 months) 8.6% · Below median
Return on assets 0.9% · Below median
Net margin (12 months) 11.0% · Below median
Operating margin (12 months) 15.8% · Below median
Growth and dividend
Revenue growth (quarter YoY) 8.5% · Below median
Dividend yield (12 months) 3.3% · Above median
Balance sheet
Debt / equity 2.02× · Highest 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (12 months) 12.1× · Cheaper than median
P/B 1.02× · Cheaper than median
P/S (12 months) 1.27× · Cheapest 25%
EV/EBITDA 7.3× · Cheaper than median
PEG 1.03× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)34 · sector 43
FUTURE (revenue growth)43 · sector 67
PAST (return on equity)34 · sector 38
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)66 · sector 47

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $182.44 $260.72 +43% vs JEF
The Charles Schwab Corporation SCHW $92.58 $117.60 +27% vs JEF
Guotai Haitong Securities Co 601211 ¥16.67 ¥18.02 +8% vs JEF
Nomura Holdings NMR $9.51 $10.20 +7% vs JEF
The Goldman Sachs Group GS $868.95 $766.86 −12% vs JEF
CITIC Securities Company 600030 ¥25.98 ¥20.42 −21% vs JEF
Robinhood Markets, Inc HOOD $78.39 $47.60 −39% vs JEF
Macquarie Group MQG A$248.86 A$123.84 −50% vs JEF
East Money Information Co 300059 ¥18.98 ¥6.72 −65% vs JEF
Interactive Brokers Group IBKR $72.73 $17.48 −76% vs JEF

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Jefferies Financial Group Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Jefferies Financial Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/JEF

Frequently asked questions

Is Jefferies Financial Group Inc (JEF) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $48.85 versus a price of $48.60, about +1% upside (fairly valued).
What is the fair value of JEF?
Our model-based fair value for Jefferies Financial Group Inc is $48.85 (as of Nov 6, 2026), built from audited fundamentals. The current price: $48.60.
What is the quality score of JEF?
Jefferies Financial Group Inc has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Jefferies Financial Group Inc (JEF)?
Our model-based price target is the fair value of $48.85 (as of Nov 6, 2026) from 9 valuation models. Cautious scenario $43.21, optimistic scenario $61.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Jefferies Financial Group Inc stock forecast for 2026?
Our models put fair value at $48.85, about +1% upside versus a price of $48.60 (fairly valued). Cautious scenario $43.21, optimistic scenario $61.06. The calculation is refreshed regularly with new filings.
What is the revenue of Jefferies Financial Group Inc (JEF)?
Jefferies Financial Group Inc reported trailing-twelve-month revenue of about $8.5B (latest available figure, as of Nov 6, 2026).
Does Jefferies Financial Group Inc pay a dividend?
Jefferies Financial Group Inc currently shows a dividend yield of 3.29% relative to its recent price (as of Nov 6, 2026).
What is the intrinsic value of Jefferies Financial Group Inc (JEF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jefferies Financial Group Inc it is $48.85 per share (as of Nov 6, 2026), against a price of $48.60. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Jefferies Financial Group Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, JEF trades below its calculated fair value: price $48.60, fair value $48.85, a gap of about +1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JEF?
No. The price is what the market pays today ($48.60); the fair value is what the company's own numbers justify ($48.85). For Jefferies Financial Group Inc the two are $0.2500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jefferies Financial Group Inc worth?
The market values Jefferies Financial Group Inc at about $10.8B (market capitalisation, as of Nov 6, 2026). Per share that is $48.60; our models calculate a fair value of $48.85 per share.
What do the bullish and bearish scenarios say about JEF?
Our models span a range for Jefferies Financial Group Inc: cautious scenario $43.21, base $48.85, optimistic $61.06 per share (as of Nov 6, 2026, price $48.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JEF?
Jefferies Financial Group Inc trades at a price-to-earnings ratio of 12.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $48.85 is built from several models across several years. Other multiples: PEG 1.0, P/B 1.0, P/S 1.3, EV/EBITDA 7.3.
What is the PEG ratio of JEF?
The PEG ratio of Jefferies Financial Group Inc is 1.03 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Jefferies Financial Group Inc (JEF)?
Balance-sheet figures for Jefferies Financial Group Inc (as of Nov 6, 2026): return on equity 8.6%, debt of 2.02 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is JEF from its 52-week high?
Jefferies Financial Group Inc trades at $48.60, about 25% below its 52-week high of $64.78 and 37% above the low of $35.48 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $48.85 is for.
Which stocks are comparable to Jefferies Financial Group Inc?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Jefferies Financial Group Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $48.60, calculated fair value $48.85 (+1%), Quality Score 47/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JEF calculated?
We run Jefferies Financial Group Inc through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $48.85, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Jefferies Financial Group Inc currently trades 1% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Jefferies Financial Group Inc (JEF)?
The closing price on Nov 5, 2026 was $48.60. Our model-based fair value is $48.85, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jefferies Financial Group Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Jefferies Financial Group Inc (JEF) come from?
Earnings per share at Jefferies Financial Group Inc grew +18.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.0 %, EBIT margin +13.1 %, tax rate +1.2 %, residual (interest, one-offs) −2.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Jefferies Financial Group Inc

How large is the market capitalisation of Jefferies Financial Group Inc (JEF)?
The market capitalisation of Jefferies Financial Group Inc is $10.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Jefferies Financial Group Inc (JEF)?
The price-to-sales ratio of Jefferies Financial Group Inc is 1.27 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Jefferies Financial Group Inc (JEF)?
Earnings per share at Jefferies Financial Group Inc are $3.75 (price ÷ EPS = P/E 12.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jefferies Financial Group Inc (JEF)?
The dividend yield of Jefferies Financial Group Inc is 3.3% (payout 42.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Jefferies Financial Group Inc (JEF)?
The net margin of Jefferies Financial Group Inc is 11.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Jefferies Financial Group Inc (JEF)?
The return on equity (ROE) of Jefferies Financial Group Inc is 8.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Jefferies Financial Group Inc (JEF)?
On an EBIT basis the return on assets of Jefferies Financial Group Inc is 5.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Jefferies Financial Group Inc (JEF)?
The operating margin of Jefferies Financial Group Inc is 15.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jefferies Financial Group Inc (JEF)?
Revenue at Jefferies Financial Group Inc is growing +8.5% versus a year earlier (3y avg +14.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Jefferies Financial Group Inc (JEF)?
Earnings per share at Jefferies Financial Group Inc are growing +17.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jefferies Financial Group Inc (JEF) generate?
The free cash flow of Jefferies Financial Group Inc is −$1.7B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Jefferies Financial Group Inc (JEF) carry?
The net debt of Jefferies Financial Group Inc is $9.7B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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