NYSE : JXN
Jackson Financial Inc. — Financial statements
Financials · Insurance - Life · United States
Last price 135.97 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 9.21B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 135.00M | 149.00M | 146.00M | 147.00M | 132.00M | 148.00M |
| Total Interest & Dividend Income | 3.23B | 3.05B | 2.85B | 2.82B | 2.80B | 2.63B |
| Gain (Loss) on Sale of Investments | -114.00M | -152.00M | -197.00M | -915.00M | -948.00M | 182.00M |
| Other Revenue | 3.30B | 3.71B | 550.00M | 1.03B | 7.86B | 3.40B |
| Total Revenue | 6.55B | 6.76B | 3.35B | 3.08B | 9.85B | 6.36B |
| Policy Benefits | 2.24B | 2.19B | 2.02B | 2.21B | 1.89B | 1.80B |
| Policy Acquisition & Underwriting Costs | 1.12B | 1.10B | 1.11B | 1.15B | 1.23B | 1.31B |
| Selling, General & Administrative | 2.86B | 2.80B | 2.83B | 2.55B | 2.43B | 2.84B |
| Total Operating Expenses | 6.21B | 6.09B | 5.96B | 5.91B | 5.55B | 5.94B |
| Operating Income | 335.00M | 666.00M | -2.61B | -2.83B | 4.30B | 416.00M |
| Interest Expense | -177.00M | -175.00M | -180.00M | -109.00M | -98.00M | -37.00M |
| Other Non Operating Income (Expenses) | -179.00M | -605.00M | 3.81B | 3.90B | 3.54B | 3.97B |
| EBT Excluding Unusual Items | -21.00M | -114.00M | 1.02B | 958.00M | 7.73B | 4.34B |
| Pretax Income | -21.00M | -114.00M | 1.02B | 958.00M | 7.73B | 4.34B |
| Income Tax Expense | -166.00M | -186.00M | 46.00M | 4.00M | 1.50B | 666.00M |
| Earnings From Continuing Ops. | 145.00M | 72.00M | 976.00M | 954.00M | 6.23B | 3.68B |
| Minority Interest in Earnings | -42.00M | -45.00M | -30.00M | -20.00M | -43.00M | -262.00M |
| Net Income | 103.00M | 27.00M | 946.00M | 934.00M | 6.19B | 3.42B |
| Preferred Dividends & Other Adjustments | 44.00M | 44.00M | 44.00M | 35.00M | ||
| Net Income to Common | 59.00M | -17.00M | 902.00M | 899.00M | 6.19B | 3.42B |
| Shares Outstanding (Basic) | 69.64M | 70.98M | 76.05M | 81.80M | 85.51M | 93.99M |
| Shares Outstanding (Diluted) | 69.86M | 71.19M | 76.81M | 83.58M | 88.69M | 94.47M |
| EPS (Basic) | 0.85 | -0.24 | 11.86 | 10.99 | 72.34 | 36.35 |
| EPS (Diluted) | 0.84 | -0.24 | 11.74 | 10.76 | 69.75 | 36.17 |
| Dividend Per Share | 3.40 | 3.20 | 2.80 | 2.48 | 2.20 | 0.50 |
| Operating Margin | 5.12% | 9.86% | -77.82% | -91.79% | 43.62% | 6.54% |
| Profit Margin | 0.90% | -0.25% | 26.92% | 29.16% | 62.81% | 53.73% |
| EBIT | 335.00M | 666.00M | -2.61B | -2.83B | 4.30B | 416.00M |
| EBIT Margin | 5.12% | 9.86% | -77.82% | -91.79% | 43.62% | 6.54% |
| Effective Tax Rate | 4.50% | 0.42% | 19.46% | 15.33% | ||
| Revenue as Reported | 6.47B | 6.68B | 3.27B | 3.08B | 9.85B | 6.36B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 55.74B | 50.79B | 43.34B | 42.58B | 44.66B | 53.26B |
| Investments in Equity & Preferred Securities | 3.34B | 3.01B | 2.70B | 2.53B | 3.60B | 3.11B |
| Policy Loans | 4.48B | 4.43B | 4.40B | 4.40B | 4.38B | 4.47B |
| Total Investments | 74.80B | 68.67B | 60.59B | 60.36B | 64.53B | 73.11B |
| Cash & Equivalents | 5.99B | 5.70B | 3.77B | 2.69B | 4.30B | 2.62B |
| Reinsurance Recoverable | 18.44B | 19.64B | 21.95B | 25.57B | 29.27B | 33.13B |
| Other Receivables | 714.00M | 634.00M | 529.00M | 512.00M | 514.00M | 503.00M |
| Deferred Policy Acquisition Cost | 11.65B | 11.66B | 11.89B | 12.30B | 12.92B | 14.25B |
| Separate Account Assets | 245.39B | 236.50B | 229.14B | 219.66B | 195.91B | 248.95B |
| Property, Plant & Equipment | 54.00M | 20.00M | 24.00M | 26.00M | 31.00M | |
| Restricted Cash | 3.00M | 3.00M | 8.00M | |||
| Other Current Assets | 8.47B | 8.31B | 9.19B | 7.12B | 6.13B | 987.00M |
| Long-Term Deferred Tax Assets | 609.00M | 719.00M | 480.00M | 640.00M | 320.00M | 954.00M |
| Long-Term Deferred Charges | 2.00M | |||||
| Other Long-Term Assets | 1.00B | 702.00M | 894.00M | 1.38B | 1.06B | 1.01B |
| Total Assets | 367.06B | 352.59B | 338.45B | 330.25B | 314.98B | 375.56B |
| Accrued Expenses | 613.00M | 618.00M | 559.00M | 548.00M | 644.00M | |
| Insurance & Annuity Liabilities | 83.92B | 78.56B | 69.38B | 67.22B | 70.51B | 76.34B |
| Unpaid Claims | 1.05B | |||||
| Reinsurance Payable | 14.09B | 14.96B | 16.74B | 19.95B | 22.96B | 29.01B |
| Current Portion of Long-Term Debt | 877.00M | 382.00M | 829.00M | |||
| Current Portion of Leases | 11.00M | |||||
| Short-Term Debt | 477.00M | 1.04B | 1.55B | 19.00M | 1.05B | 1.59B |
| Long-Term Debt | 5.24B | 4.61B | 4.38B | 4.03B | 3.77B | 4.05B |
| Long-Term Leases | 45.00M | 26.00M | 32.00M | 36.00M | 43.00M | |
| Separate Account Liability | 245.39B | 236.50B | 229.14B | 219.66B | 195.91B | 248.95B |
| Other Current Liabilities | 4.04B | 4.07B | 4.11B | 6.64B | 8.19B | 954.00M |
| Other Long-Term Liabilities | 3.44B | 1.85B | 1.64B | 1.44B | 1.82B | 1.85B |
| Total Liabilities | 356.59B | 342.24B | 328.47B | 319.92B | 305.61B | 364.49B |
| Preferred Stock, Redeemable | 533.00M | 533.00M | 533.00M | 533.00M | ||
| Common Stock | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Additional Paid-In Capital | 6.40B | 6.06B | 6.05B | 6.00B | 6.06B | 6.05B |
| Retained Earnings | 7.55B | 7.47B | 7.71B | 7.04B | 6.40B | 2.81B |
| Treasury Stock | -1.90B | -1.65B | -1.01B | -599.00M | -443.00M | -211.00M |
| Comprehensive Income & Other | -2.62B | -2.47B | -3.52B | -2.81B | -3.38B | 1.74B |
| Total Common Equity | 9.43B | 9.42B | 9.23B | 9.64B | 8.65B | 10.39B |
| Minority Interest | 512.00M | 389.00M | 218.00M | 164.00M | 732.00M | 680.00M |
| Shareholders' Equity | 10.47B | 10.34B | 9.98B | 10.33B | 9.38B | 11.07B |
| Total Liabilities & Equity | 367.06B | 352.59B | 338.45B | 330.25B | 314.98B | 375.56B |
| Filing Date Shares Outstanding | 67.73M | 70.68M | 72.65M | 77.41M | 82.28M | 87.43M |
| Total Common Shares Outstanding | 68.19M | 66.83M | 73.38M | 78.66M | 82.69M | 88.69M |
| Total Debt | 5.72B | 5.70B | 6.83B | 4.46B | 5.68B | 5.68B |
| Net Cash (Debt) | 266.00M | 4.00M | -3.07B | -1.77B | -1.38B | -3.06B |
| Net Cash Per Share | 3.81 | 0.06 | -39.93 | -21.18 | -15.60 | -32.41 |
| Book Value Per Share | 138.28 | 140.96 | 125.80 | 122.51 | 104.56 | 117.20 |
| Tangible Book Value | 9.43B | 9.42B | 9.23B | 9.64B | 8.65B | 10.39B |
| Tangible Book Value Per Share | 138.28 | 140.96 | 125.80 | 122.51 | 104.56 | 117.20 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 103.00M | 27.00M | 946.00M | 934.00M | 6.19B | 3.42B |
| Gain (Loss) on Sale of Investments | -42.00M | 77.00M | -22.00M | 527.00M | 370.00M | -133.00M |
| Stock-Based Compensation | 134.00M | 132.00M | 191.00M | 107.00M | 131.00M | 129.00M |
| Change in Insurance Reserves / Liabilities | -356.00M | -421.00M | -777.00M | -731.00M | -1.14B | -1.10B |
| Change in Other Net Operating Assets | 46.00M | -50.00M | 61.00M | 105.00M | 221.00M | -50.00M |
| Other Operating Activities | 5.97B | 5.77B | 4.98B | 3.75B | -1.17B | 2.90B |
| Operating Cash Flow | 5.88B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Investment in Securities | -8.36B | -6.10B | -921.00M | 3.37B | -236.00M | 4.77B |
| Other Investing Activities | 22.00M | -1.34B | -6.82B | -4.85B | -1.02B | -5.39B |
| Investing Cash Flow | -9.48B | -7.76B | -7.09B | -592.00M | -1.37B | -1.30B |
| Short-Term Debt Issued | 1.53B | 476.00M | ||||
| Long-Term Debt Issued | 736.00M | 1.40B | 547.00M | 750.00M | 3.94B | |
| Total Debt Issued | 1.12B | 736.00M | 2.93B | 547.00M | 750.00M | 4.42B |
| Total Debt Repaid | -1.36B | -1.75B | -531.00M | -1.98B | -1.37B | -2.00B |
| Net Debt Issued (Repaid) | -239.00M | -1.01B | 2.40B | -1.43B | -616.00M | 2.42B |
| Issuance of Common Stock | 500.00M | 5.00M | ||||
| Repurchases of Common Stock | -763.00M | -669.00M | -442.00M | -306.00M | -321.00M | -211.00M |
| Issuance of Preferred Stock | 533.00M | |||||
| Common Dividends Paid | -234.00M | -223.00M | -211.00M | -293.00M | -186.00M | -50.00M |
| Preferred Dividends Paid | -44.00M | -44.00M | -44.00M | -35.00M | ||
| Total Dividends Paid | -278.00M | -267.00M | -255.00M | -328.00M | -186.00M | -50.00M |
| Other Financing Activities | 21.85B | 20.77B | 19.92B | 10.13B | 5.68B | 2.64B |
| Financing Cash Flow | 5.80B | 3.94B | 2.37B | -6.33B | -2.16B | -3.77B |
| Net Cash Flow | 2.20B | 1.94B | 1.08B | -1.61B | 1.67B | 612.00M |
| Levered Free Cash Flow | 1.23B | 1.70B | -5.63B | -3.53B | 1.94B | 651.88M |
| Unlevered Free Cash Flow | 1.34B | 1.81B | -5.52B | -3.46B | 2.00B | 675.00M |
| Cash Interest Paid | 192.00M | 233.00M | 263.00M | 183.00M | 107.00M | 30.00M |
| Cash Income Tax Paid | -97.00M | -8.00M | -21.00M | -5.00M | -403.00M | |
| Change in Working Capital | -284.00M | -244.00M | -301.00M | -4.00M | -315.00M | -633.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.36B | 7.25B | 6.43B | 4.07B | 2.88B | 3.71B |
| Enterprise Value | 9.09B | 9.17B | 9.42B | 7.64B | 2.92B | 4.82B |
| PE Ratio | 164.26 | 7.13 | 4.53 | 0.47 | 1.09 | |
| PS Ratio | 1.39 | 1.07 | 1.92 | 1.32 | 0.29 | 0.58 |
| PB Ratio | 0.98 | 0.70 | 0.64 | 0.39 | 0.31 | 0.34 |
| P/OCF Ratio | 1.55 | 1.26 | 1.11 | 0.77 | 0.55 | 0.65 |
| EV/Sales Ratio | 1.35 | 1.36 | 2.81 | 2.48 | 0.30 | 0.76 |
| EV/EBIT Ratio | 26.39 | 13.77 | 0.68 | 11.59 | ||
| Debt / Equity Ratio | 0.55 | 0.55 | 0.69 | 0.43 | 0.61 | 0.51 |
| Debt / EBITDA Ratio | 16.68 | 8.46 | 1.32 | 13.41 | ||
| Net Debt / Equity Ratio | -0.03 | 0.00 | 0.31 | 0.17 | 0.15 | 0.28 |
| Quick Ratio | 0.32 | 0.28 | 0.16 | 0.10 | 0.13 | 0.10 |
| Current Ratio | 1.81 | 1.66 | 1.48 | 1.30 | 1.20 | 1.14 |
| Asset Turnover | 0.02 | 0.02 | 0.01 | 0.01 | 0.03 | 0.02 |
| Return on Equity (ROE) | 1.38% | 0.71% | 9.61% | 9.68% | 60.91% | 35.04% |
| Return on Assets (ROA) | 0.06% | 0.12% | -0.49% | -0.55% | 0.78% | 0.07% |
| Return on Invested Capital (ROIC) | 2.15% | 4.05% | -15.75% | -18.88% | 21.75% | 2.47% |
| Earnings Yield | 0.61% | 0.37% | 14.71% | 22.95% | 215.03% | 92.11% |
| Dividend Yield | 2.61% | 2.95% | 3.19% | 4.79% | 6.32% | 1.20% |
| Payout Ratio | 427.88% | 988.89% | 26.96% | 35.12% | 3.01% | 1.46% |
| Buyback Yield / Dilution | 5.22% | 7.32% | 8.10% | 5.77% | 6.11% | -39.62% |
| Total Shareholder Return | 7.89% | 10.27% | 11.29% | 10.56% | 12.44% | -38.42% |