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Jefferies Financial Group Inc.（JEF）与Trade Desk (The)（TTD）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Trade Desk (The)的2.0倍（$1.7B vs $846.8M），Trade Desk (The)净利率更高（22.1% vs 12.6%，领先9.4%），Jefferies Financial Group Inc.自由现金流更多（$1.9B vs $285.3M）
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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
JEF vs TTD — 直观对比
营收规模更大
JEF
是对方的2.0倍
$846.8M
净利率更高
TTD
高出9.4%
12.6%
自由现金流更多
JEF
多$1.6B
$285.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $846.8M |
| 净利润 | $211.3M | $186.9M |
| 毛利率 | 95.7% | 80.7% |
| 营业利润率 | 15.2% | 30.3% |
| 净利率 | 12.6% | 22.1% |
| 营收同比 | — | 14.3% |
| 净利润同比 | — | 2.6% |
| 每股收益（稀释后） | $0.85 | $0.39 |
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JEFTTD
| Q4 25 | $1.7B | $846.8M | ||
| Q3 25 | $1.5B | $739.4M | ||
| Q2 25 | $1.2B | $694.0M | ||
| Q1 25 | $1.1B | $616.0M | ||
| Q4 24 | — | $741.0M | ||
| Q3 24 | $1.2B | $628.0M | ||
| Q2 24 | $1.0B | $584.5M | ||
| Q1 24 | $971.2M | $491.3M |
净利润JEFTTD
| Q4 25 | $211.3M | $186.9M | ||
| Q3 25 | $242.5M | $115.5M | ||
| Q2 25 | $91.4M | $90.1M | ||
| Q1 25 | $136.8M | $50.7M | ||
| Q4 24 | — | $182.2M | ||
| Q3 24 | $181.0M | $94.2M | ||
| Q2 24 | $154.7M | $85.0M | ||
| Q1 24 | $156.4M | $31.7M |
毛利率JEFTTD
| Q4 25 | 95.7% | 80.7% | ||
| Q3 25 | 97.7% | 78.1% | ||
| Q2 25 | 96.5% | 78.2% | ||
| Q1 25 | 96.4% | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | 96.9% | 80.5% | ||
| Q2 24 | 96.4% | 81.1% | ||
| Q1 24 | 96.4% | 78.9% |
营业利润率JEFTTD
| Q4 25 | 15.2% | 30.3% | ||
| Q3 25 | 22.1% | 21.8% | ||
| Q2 25 | 11.0% | 16.8% | ||
| Q1 25 | 13.2% | 8.8% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | 20.7% | 17.3% | ||
| Q2 24 | 22.0% | 16.2% | ||
| Q1 24 | 22.7% | 5.8% |
净利率JEFTTD
| Q4 25 | 12.6% | 22.1% | ||
| Q3 25 | 16.1% | 15.6% | ||
| Q2 25 | 7.4% | 13.0% | ||
| Q1 25 | 12.0% | 8.2% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 14.8% | 15.0% | ||
| Q2 24 | 14.9% | 14.5% | ||
| Q1 24 | 16.1% | 6.4% |
每股收益（稀释后）JEFTTD
| Q4 25 | $0.85 | $0.39 | ||
| Q3 25 | $1.01 | $0.23 | ||
| Q2 25 | $0.40 | $0.18 | ||
| Q1 25 | $0.57 | $0.10 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | $0.75 | $0.19 | ||
| Q2 24 | $0.64 | $0.17 | ||
| Q1 24 | $0.66 | $0.06 |
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 | $1.3B |
| 总债务越低越好 | $15.9B | — |
| 股东权益账面价值 | $10.6B | $2.5B |
| 总资产 | $76.0B | $6.2B |
| 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JEFTTD
| Q4 25 | $14.0B | $1.3B | ||
| Q3 25 | $11.5B | $1.4B | ||
| Q2 25 | $11.3B | $1.7B | ||
| Q1 25 | $11.2B | $1.7B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $10.6B | $1.7B | ||
| Q2 24 | $10.8B | $1.5B | ||
| Q1 24 | $7.6B | $1.4B |
总债务JEFTTD
| Q4 25 | $15.9B | — | ||
| Q3 25 | $16.0B | — | ||
| Q2 25 | $15.4B | — | ||
| Q1 25 | $14.8B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $12.9B | — | ||
| Q2 24 | $12.7B | — | ||
| Q1 24 | $9.9B | — |
股东权益JEFTTD
| Q4 25 | $10.6B | $2.5B | ||
| Q3 25 | $10.4B | $2.6B | ||
| Q2 25 | $10.3B | $2.7B | ||
| Q1 25 | $10.2B | $2.7B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $10.0B | $2.6B | ||
| Q2 24 | $9.9B | $2.4B | ||
| Q1 24 | $9.8B | $2.2B |
总资产JEFTTD
| Q4 25 | $76.0B | $6.2B | ||
| Q3 25 | $69.3B | $5.9B | ||
| Q2 25 | $67.3B | $6.0B | ||
| Q1 25 | $70.2B | $5.7B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | $63.3B | $5.5B | ||
| Q2 24 | $63.0B | $5.2B | ||
| Q1 24 | $60.9B | $4.7B |
负债/权益比JEFTTD
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.53× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.29× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.01× | — |
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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $1.9B | $285.3M |
| 自由现金流率自由现金流/营收 | 114.2% | 33.7% |
| 资本支出强度资本支出/营收 | 3.4% | 3.1% |
| 现金转化率经营现金流/净利润 | 9.30× | 1.67× |
| 过去12个月自由现金流最近4个季度 | $-1.7B | $795.7M |
8季度趋势，按日历期对齐
经营现金流JEFTTD
| Q4 25 | $2.0B | $311.6M | ||
| Q3 25 | $184.2M | $224.7M | ||
| Q2 25 | $-978.3M | $165.0M | ||
| Q1 25 | $-2.7B | $291.4M | ||
| Q4 24 | — | $199.4M | ||
| Q3 24 | — | $273.3M | ||
| Q2 24 | — | $81.3M | ||
| Q1 24 | $-1.3B | $185.5M |
自由现金流JEFTTD
| Q4 25 | $1.9B | $285.3M | ||
| Q3 25 | $126.0M | $158.3M | ||
| Q2 25 | $-1.0B | $119.8M | ||
| Q1 25 | $-2.7B | $232.3M | ||
| Q4 24 | — | $179.2M | ||
| Q3 24 | — | $224.6M | ||
| Q2 24 | — | $59.1M | ||
| Q1 24 | $-1.4B | $178.2M |
自由现金流率JEFTTD
| Q4 25 | 114.2% | 33.7% | ||
| Q3 25 | 8.4% | 21.4% | ||
| Q2 25 | -83.3% | 17.3% | ||
| Q1 25 | -237.2% | 37.7% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | -139.4% | 36.3% |
资本支出强度JEFTTD
| Q4 25 | 3.4% | 3.1% | ||
| Q3 25 | 3.9% | 9.0% | ||
| Q2 25 | 3.6% | 6.5% | ||
| Q1 25 | 4.3% | 9.6% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | 9.9% | 1.5% |
现金转化率JEFTTD
| Q4 25 | 9.30× | 1.67× | ||
| Q3 25 | 0.76× | 1.94× | ||
| Q2 25 | -10.70× | 1.83× | ||
| Q1 25 | -19.48× | 5.75× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | -8.04× | 5.86× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
