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Jefferies Financial Group Inc.（JEF）与欢聚集团（JOYY）财务数据对比。点击上方公司名可切换其他公司
Jefferies Financial Group Inc.的季度营收约是欢聚集团的1.1倍（$1.7B vs $1.5B），Jefferies Financial Group Inc.净利率更高（12.6% vs 10.4%，领先2.3%）
杰富瑞金融集团是总部位于美国纽约的金融服务企业，在纽约证券交易所挂牌上市，同时位列财富1000强榜单，为全球客户提供专业的金融相关服务。
欢聚集团是全球化社交媒体科技企业，主营直播、短视频、社交互动类数字娱乐服务，核心产品覆盖东南亚、中东、拉美等多个新兴市场，为全球用户提供丰富的沉浸式互动内容体验。
JEF vs JOYY — 直观对比
营收规模更大
JEF
是对方的1.1倍
$1.5B
净利率更高
JEF
高出2.3%
10.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.5B |
| 净利润 | $211.3M | $160.1M |
| 毛利率 | 95.7% | 36.1% |
| 营业利润率 | 15.2% | 2.4% |
| 净利率 | 12.6% | 10.4% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.85 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收JEFJOYY
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.1B | $494.4M | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.0B | $1.1B | ||
| Q1 24 | $971.2M | $564.6M | ||
| Q3 23 | — | $1.7B |
净利润JEFJOYY
| Q4 25 | $211.3M | — | ||
| Q3 25 | $242.5M | $160.1M | ||
| Q2 25 | $91.4M | $100.9M | ||
| Q1 25 | $136.8M | $42.9M | ||
| Q3 24 | $181.0M | $143.9M | ||
| Q2 24 | $154.7M | $87.9M | ||
| Q1 24 | $156.4M | $40.2M | ||
| Q3 23 | — | $232.3M |
毛利率JEFJOYY
| Q4 25 | 95.7% | — | ||
| Q3 25 | 97.7% | 36.1% | ||
| Q2 25 | 96.5% | 36.3% | ||
| Q1 25 | 96.4% | 36.1% | ||
| Q3 24 | 96.9% | 35.7% | ||
| Q2 24 | 96.4% | 34.9% | ||
| Q1 24 | 96.4% | 34.6% | ||
| Q3 23 | — | 36.0% |
营业利润率JEFJOYY
| Q4 25 | 15.2% | — | ||
| Q3 25 | 22.1% | 2.4% | ||
| Q2 25 | 11.0% | 1.8% | ||
| Q1 25 | 13.2% | 2.5% | ||
| Q3 24 | 20.7% | 1.3% | ||
| Q2 24 | 22.0% | 0.5% | ||
| Q1 24 | 22.7% | 0.6% | ||
| Q3 23 | — | 1.4% |
净利率JEFJOYY
| Q4 25 | 12.6% | — | ||
| Q3 25 | 16.1% | 10.4% | ||
| Q2 25 | 7.4% | 10.1% | ||
| Q1 25 | 12.0% | 8.7% | ||
| Q3 24 | 14.8% | 8.5% | ||
| Q2 24 | 14.9% | 7.8% | ||
| Q1 24 | 16.1% | 7.1% | ||
| Q3 23 | — | 13.7% |
每股收益（稀释后）JEFJOYY
| Q4 25 | $0.85 | — | ||
| Q3 25 | $1.01 | — | ||
| Q2 25 | $0.40 | — | ||
| Q1 25 | $0.57 | — | ||
| Q3 24 | $0.75 | — | ||
| Q2 24 | $0.64 | — | ||
| Q1 24 | $0.66 | — | ||
| Q3 23 | — | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $14.0B | $383.8M |
| 总债务越低越好 | $15.9B | — |
| 股东权益账面价值 | $10.6B | $6.6B |
| 总资产 | $76.0B | $7.5B |
| 负债/权益比越低杠杆越低 | 1.50× | — |
8季度趋势，按日历期对齐
现金及短期投资JEFJOYY
| Q4 25 | $14.0B | — | ||
| Q3 25 | $11.5B | $383.8M | ||
| Q2 25 | $11.3B | $401.0M | ||
| Q1 25 | $11.2B | $801.5M | ||
| Q3 24 | $10.6B | $481.8M | ||
| Q2 24 | $10.8B | $607.1M | ||
| Q1 24 | $7.6B | $728.2M | ||
| Q3 23 | — | $1.2B |
总债务JEFJOYY
| Q4 25 | $15.9B | — | ||
| Q3 25 | $16.0B | — | ||
| Q2 25 | $15.4B | — | ||
| Q1 25 | $14.8B | — | ||
| Q3 24 | $12.9B | — | ||
| Q2 24 | $12.7B | — | ||
| Q1 24 | $9.9B | — | ||
| Q3 23 | — | — |
股东权益JEFJOYY
| Q4 25 | $10.6B | — | ||
| Q3 25 | $10.4B | $6.6B | ||
| Q2 25 | $10.3B | $6.6B | ||
| Q1 25 | $10.2B | $6.6B | ||
| Q3 24 | $10.0B | $5.3B | ||
| Q2 24 | $9.9B | $5.3B | ||
| Q1 24 | $9.8B | $5.3B | ||
| Q3 23 | — | $5.3B |
总资产JEFJOYY
| Q4 25 | $76.0B | — | ||
| Q3 25 | $69.3B | $7.5B | ||
| Q2 25 | $67.3B | $7.5B | ||
| Q1 25 | $70.2B | $7.6B | ||
| Q3 24 | $63.3B | $8.1B | ||
| Q2 24 | $63.0B | $8.1B | ||
| Q1 24 | $60.9B | $8.6B | ||
| Q3 23 | — | $8.4B |
负债/权益比JEFJOYY
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.53× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 1.45× | — | ||
| Q3 24 | 1.29× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.01× | — | ||
| Q3 23 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $2.0B | — |
| 自由现金流经营现金流 - 资本支出 | $1.9B | — |
| 自由现金流率自由现金流/营收 | 114.2% | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | 9.30× | — |
| 过去12个月自由现金流最近4个季度 | $-1.7B | — |
8季度趋势，按日历期对齐
经营现金流JEFJOYY
| Q4 25 | $2.0B | — | ||
| Q3 25 | $184.2M | — | ||
| Q2 25 | $-978.3M | — | ||
| Q1 25 | $-2.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-1.3B | — | ||
| Q3 23 | — | — |
自由现金流JEFJOYY
| Q4 25 | $1.9B | — | ||
| Q3 25 | $126.0M | — | ||
| Q2 25 | $-1.0B | — | ||
| Q1 25 | $-2.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-1.4B | — | ||
| Q3 23 | — | — |
自由现金流率JEFJOYY
| Q4 25 | 114.2% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | -83.3% | — | ||
| Q1 25 | -237.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -139.4% | — | ||
| Q3 23 | — | — |
资本支出强度JEFJOYY
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 4.3% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 9.9% | — | ||
| Q3 23 | — | — |
现金转化率JEFJOYY
| Q4 25 | 9.30× | — | ||
| Q3 25 | 0.76× | — | ||
| Q2 25 | -10.70× | — | ||
| Q1 25 | -19.48× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -8.04× | — | ||
| Q3 23 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
JEF
| Investment Banking Underwriting | $555.6M | 33% |
| Principal Transactions Revenue | $378.3M | 23% |
| Commissions And Other Fees | $356.0M | 21% |
| Other | $177.8M | 11% |
| Internet Connection And Boadband Revenue | $57.0M | 3% |
| Other Sources Of Revenue Miscellaneous | $53.3M | 3% |
| Real Estate | $50.7M | 3% |
| Strategic Affiliates Revenue | $13.8M | 1% |
| Asset Management1 | $12.1M | 1% |
| Fixed Income Services | $1.6M | 0% |
JOYY
| Live streaming | $1.1B | 74% |
| Advertising | $297.3M | 19% |
| Others | $109.8M | 7% |
