Jefferies Financial Group Inc. is a global investment banking and capital markets firm based in New York City. It offers a full array of investment banking services, including mergers and acquisitions, equity research, and capital market solutions. The firm operates through various segments including investment banking, capital markets, and asset management.

In fiscal year 2024, Jefferies experienced a significant rise in its financial performance. The company reported net revenues of $7.0 billion, a substantial increase compared to previous years. This included pre-tax income from continuing operations of $1.0 billion and diluted earnings per share of $2.96. The return on adjusted tangible shareholders’ equity from continuing operations stood at 10.8%.

Investment Banking revenues surged to $3.4 billion, reflecting a 52% year-over-year growth. Comparative revenue growth since 2019 reached 126%, indicating a strong recovery. Jefferies improved its market positioning, ranking as the world’s sixth-largest investment bank, and the fifth globally in M&A activities.

The company’s capital markets segment reported net revenues of $1.6 billion, driven by record high sales and trading results, reflecting strong market performance. The fixed income sector also saw a respectable increase of 6.8%, resulting in $1.2 billion in net revenues, attributed primarily to strong client demand.

Jefferies Finance, its joint venture with MassMutual, posted an impressive year with over $66 billion in arrangement volume, surpassing its previous record high. However, while their private credit unit performed well, net income was lower, resulting from a shortage of high-margin private-equity-backed M&A transactions.

Berkadia, Jefferies’ commercial real estate finance joint venture, achieved pre-tax income of $192 million and cash earnings of $253 million for 2024, showing increases of 57% and 29%, respectively, over the previous year. The loan-servicing portfolio grew significantly to $415 billion.

In light of these results, Jefferies’ Board of Directors increased the quarterly dividend to $0.40 per share, representing a 14.3% increase from the prior rate. The firm remains confident in its financial position, marked by enhanced capital, substantial returns to shareholders amounting to $6.4 billion over the last seven years, and a strong market presence.