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JEF (Jefferies Financial Group) Operating Income : $4,712 Mil (TTM As of Feb. 2025)


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What is Jefferies Financial Group Operating Income?

Jefferies Financial Group's Operating Income for the three months ended in Feb. 2025 was $1,117 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2025 was $4,712 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Jefferies Financial Group's Operating Income for the three months ended in Feb. 2025 was $1,117 Mil. Jefferies Financial Group's Revenue for the three months ended in Feb. 2025 was $2,473 Mil. Therefore, Jefferies Financial Group's Operating Margin % for the quarter that ended in Feb. 2025 was 45.19%.

Good Sign:

Jefferies Financial Group Inc operating margin is expanding. Margin expansion is usually a good sign.

Jefferies Financial Group's 5-Year average Growth Rate for Operating Margin % was 8.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Jefferies Financial Group's annualized ROC % for the quarter that ended in Feb. 2025 was 9.07%. Jefferies Financial Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2025 was 22.35%.


Jefferies Financial Group Operating Income Historical Data

The historical data trend for Jefferies Financial Group's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Jefferies Financial Group Operating Income Chart

Jefferies Financial Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,087.62 3,523.06 2,613.12 3,309.64 4,712.73

Jefferies Financial Group Quarterly Data
May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,117.88 1,129.12 1,208.17 1,257.56 1,117.47

Jefferies Financial Group Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Feb. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,712 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Jefferies Financial Group  (NYSE:JEF) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Jefferies Financial Group's annualized ROC % for the quarter that ended in Feb. 2025 is calculated as:

ROC % (Q: Feb. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2024 ) + Invested Capital (Q: Feb. 2025 ))/ count )
=4469.872 * ( 1 - 9.41% )/( (40935.722 + 48397.133)/ 2 )
=4049.2570448/44666.4275
=9.07 %

where

Invested Capital(Q: Nov. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=64360.309 - 11271.173 - ( 12153.414 - max(0, 11714.333 - 39605.099+12153.414))
=40935.722

Invested Capital(Q: Feb. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=70218.891 - 10645.415 - ( 11176.343 - max(0, 11818.221 - 42895.184+11176.343))
=48397.133

Note: The Operating Income data used here is four times the quarterly (Feb. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Jefferies Financial Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2024  Q: Feb. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=4123.64/( ( (1194.72 + max(14794.854, 0)) + (1217.202 + max(19690.133, 0)) )/ 2 )
=4123.64/( ( 15989.574 + 20907.335 )/ 2 )
=4123.64/18448.4545
=22.35 %

where Working Capital is:

Working Capital(Q: Nov. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5824.844 + 0 + 20241.183) - (11271.173 + 0 + 0)
=14794.854

Working Capital(Q: Feb. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8458.134 + 0 + 21877.414) - (10645.415 + 0 + -1.8189894035459E-12)
=19690.133

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Jefferies Financial Group's Operating Margin % for the quarter that ended in Feb. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2025 )/Revenue (Q: Feb. 2025 )
=1117.468/2472.864
=45.19 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Jefferies Financial Group Operating Income Related Terms

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Jefferies Financial Group Business Description

Traded in Other Exchanges
Address
520 Madison Avenue, New York, NY, USA, 10022
Jefferies Financial Group Inc is a full-service investment banking and capital markets firm. It has two reportable segments; Investment Banking and Capital Markets which is also the majority revenue generating segment, includes securities, commodities, corporate lending, futures and foreign exchange capital markets activities and its investment banking business, which provides underwriting and financial advisory services to clients across different sectors. The Asset Management reportable business segment provides alternative investment management services to investors in the U.S. and overseas and generates investment income from capital invested in and managed by it or its affiliated asset managers. Operates geographically in America, Europe and Middle East, Asia Pasific.
Executives
Joseph S Steinberg director, 10 percent owner, officer: President C/O LEUCADIA NATIONAL CORP, 315 PARK AVENUE SOUTH, NEW YORK NY 10010
Richard B Handler director, officer: CEO C/O JEFFERIES LLC, 520 MADISON AVE., NEW YORK NY 10022
Brian P Friedman director, officer: President
Robert D Beyer director 1014 VINE ST, CINCINNATI OH 45202
Mark Lawrence Cagno officer: VP and Co-Controller C/O JEFFERIES FINANCIAL GROUP INC., 520 MADISON AVENUE, NEW YORK NY 10022
Matthew Scott Larson officer: EVP, Co-CFO C/O JEFFERIES FINANCIAL GROUP INC., 520 MADISON AVENUE, NEW YORK NY 10022
Rocco J Nittoli officer: Treasurer 315 PARK AVENUE SOUTH, NEW YORK NY 10010
Thomas W Jones director ALTRIA GROUP INC, 6601 WEST BROAD STREET, RICHMOND VA 23230
O Kane Michael T director 80 HICKORY HILL BLVD, TOTOWA NJ 07512
Melissa Weiler director 399 PARK AVE 38TH FL, NEW YORK DC 10022
Matrice Ellis-kirk director C/O JEFFERIES FINANCIAL GROUP INC, 520 MADISON AVENUE, NEW YORK NY 10022
Stuart Harry Reese director
Barry J Alperin director C/O HENRY SCHEIN INC, 135 DURYEA RD, MELVILLE NY 11747
Maryanne Gilmartin director C/O JEFFERIES FINANCIAL GROUP INC., 520 MADISON AVE., NEW YORK NY 10022
Jacob M Katz director C/O HERC HOLDINGS INC., 27500 RIVERVIEW CENTER BLVD., BONITA SPRINGS FL 34134