In Q3 fiscal 2026 (the quarter ended August 31, 2026), Jefferies Financial's largest business segment was Investment Banking and Capital Markets, with $3.06 billion or 95% of revenue, up 15.8% from a year earlier. Next: Asset Management (5%).
By product or service, Investment Banking brought in 40%, Interest Revenue brought in 29% and Principal Transactions Revenue brought in 15% of revenue in Q3 fiscal 2026.
By region, Americas brought in 76%, Europe and Middle East brought in 15% and Asia Pacific brought in 8% of revenue in Q3 fiscal 2026.
The fastest-growing business segment from a year earlier was Investment Banking and Capital Markets (+15.8%).
From company filings, in USD; latest quarter ended August 31, 2026; quarterly data from Q3 fiscal 2017.

Fiscal quarters, from company filings
| Business segment | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q3 FY25 | Share |
|---|---|---|---|---|---|
| Investment Banking and Capital Markets | $3.1B | $1.6B | $2.6B | $2.6B | 95% |
| Asset Management | $164.0M | $79.0M | $298.9M | $251.0M | 5% |
In USD, fiscal quarters as reported; share = part of Q3 FY26 revenue.
| Product or service | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q3 FY25 | Share |
|---|---|---|---|---|---|
| Investment Banking | $1.3B | $1.2B | $1.0B | $1.1B | 40% |
| Interest Revenue | $923.0M | $854.0M | $813.1M | $846.9M | 29% |
| Principal Transactions Revenue | $468.7M | $488.7M | $487.5M | $486.9M | 15% |
| Commissions and Other Fees | $392.9M | $400.6M | $367.6M | $325.2M | 12% |
| Other | $132.5M | $155.5M | $117.4M | $147.4M | 4% |
| Asset Management | $9.9M | $9.8M | $67.4M | $13.1M | under 1% |
In USD, fiscal quarters as reported; share = part of Q3 FY26 revenue.
| Region | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q3 FY25 | Share |
|---|---|---|---|---|---|
| Americas | $1.3B | $1.2B | $1.1B | $1.1B | 76% |
| Europe and Middle East | $269.1M | $332.6M | $290.8M | $309.9M | 15% |
| Asia Pacific | $147.1M | $158.2M | $96.7M | $116.2M | 8% |
In USD, fiscal quarters as reported; share = part of Q3 FY26 revenue.
Investment Banking and Capital Markets and Asset Management (as reported for Q3 fiscal 2026).
Investment Banking and Capital Markets: $3.06 billion, or 95% of revenue, in Q3 fiscal 2026.
By revenue in Q3 fiscal 2026: Investment Banking (40%), Interest Revenue (29%), Principal Transactions Revenue (15%) and Commissions and Other Fees (12%).
By region in Q3 fiscal 2026: Americas (76%), Europe and Middle East (15%) and Asia Pacific (8%).
Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i
Fiscal quarter ended Aug 31, 2026
| Item | Revenue | Share |
|---|---|---|
| Investment Banking and Capital Markets | USD 3.06B | 94.9% |
| Asset Management | USD 164.00M | 5.1% |
Sum of items USD 3.23B. Shares are of the items shown. Click an item with › to see its parts.
Every item and period in one grid. Purple = calculated; "–" = not available.
| Item | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 | Q3 FY23 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 | Q3 FY18 | Q2 FY18 | Q1 FY18 | Q4 FY17 | Q3 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment Banking and Capital Markets | 3.1B | 1.6B | 2.6B | 2.7B | 2.6B | 2.3B | 2.2B | 1.3B | 1.2B | 1.0B | 924.1M | – | 823.9M | 727.8M | 716.1M | 772.7M | 930.7M | 855.6M | 1.2B | 1.4B | 1.4B | 1.2B | 1.2B | 1.1B | 820.1M | 630.8M | 771.5M | 583.0M | 583.5M | 597.8M | 440.7M | – | – | – | – | – | – |
| Jefferies Group LLC | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 764.8M | 777.6M | 822.6M | 821.2M | – | 802.9M |
| Merchant Banking | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 242.7M | 274.1M | 220.1M | 177.5M | 236.2M | 266.7M | 184.8M | 181.8M | 151.7M | 116.0M | 135.3M | 148.9M | 148.0M | 146.1M | 121.1M | – | 369.3M | 86.4M | 73.9M | – | – |
| Asset Management | 164.0M | 79.0M | 298.9M | 263.9M | 251.0M | 228.5M | 264.2M | 188.5M | 88.1M | 84.5M | 110.8M | – | 21.1M | 25.6M | 58.9M | 253.0M | 3.8M | 3.3M | 12.6M | 2.2M | 2.9M | 2.3M | 7.4M | 2.0M | 3.1M | 3.5M | 6.1M | 4.0M | 4.6M | 6.2M | 8.3M | – | – | – | – | – | – |
| Reconciling items | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | - 435.0K | – | – | - 169.0K | - 329.0K | - 281.0K | - 295.0K | - 105.0K | - 254.0K | - 1.7M | - 88.0K | - 192.0K | – | - 5.4M | - 400.0K | – | – | 52.4M |
| Corporate | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 7.5M | 8.7M | 3.0M | 3.1M | – | 1.9M |