What is Jefferies Financial Group's conversion ratio?

Jefferies Financial Group (JEF) reported conversion ratio of 50,000% in Q1 2023.

What does conversion ratio mean?

The number of common shares you get for each preferred share converted.

How do you interpret conversion ratio?

A higher ratio increases the potential dilution for common shareholders upon conversion.

How does conversion ratio compare across companies?

Standard term in convertible security agreements across the financial services industry.

Jefferies Financial Group JEF Conversion ratio

Conversion ratio at other companies

EFC

Ellington Financial Inc.EFC

126.3M+32.1%

American Homes 4 RentAMH

$10.6M—

Wells Fargo & CompanyWFC

16.60.0%

First HorizonFHN

$0—

Jaguar Uranium JAGU

25%—

US FoodsUSFD

——

Other financials

Income statement

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Revenue$2.0B+26.6%

Gross profit$2.0B+28.1%

Net income$159.3M+16.4%

EPS (diluted)$0.70+22.8%

Balance sheet

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Cash & equivalents$13.7B+10.1%

Total debt$19.1B+20.0%

Total equity$10.6B+4.0%

Total assets$74.4B+5.9%

Cash flow

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Operating cash flow-$1.7B+34.8%

CapEx$64.9M+30.8%

Free cash flow-$1.8B+33.6%

Valuation

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Market cap$12.7B-32.8%

Enterprise value$18.13B-14.8%

P/E18×-9.1×

P/S1.6×-1.1×

Profitability

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Gross margin97.7%+0.8pp

Net margin9.1%-1.0pp

FCF margin17.6%+15.6pp

Returns & leverage

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Return on equity6.8%-0.2pp

Debt / equity1.8×+0.2×

Where this comes from

Reported directly by Jefferies Financial Group in its filing.

Tagged under the XBRL concept us-gaap:PreferredStockConvertibleConversionRatio.

The official record: Jefferies Financial Group’s 10-Q, filed April 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Jefferies Financial Group's conversion ratio?: Jefferies Financial Group (JEF) reported conversion ratio of 50,000% in Q1 2023.
What does conversion ratio mean?: The number of common shares you get for each preferred share converted.
How do you interpret conversion ratio?: A higher ratio increases the potential dilution for common shareholders upon conversion.
How does conversion ratio compare across companies?: Standard term in convertible security agreements across the financial services industry.