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Jackson Financial Inc.

JXN Financial Insurance Life

Jackson Financial Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.7 billion, up 104.3% from fiscal 2024.

Revenue
+8.90%
EPS
+1,269.7%
Free cash flow
+3.43%
Total debt
+12.6%

Quarter to September 2026, against a year earlier

132.65 4.70 −3.42%
Market cap
$8.8B
P/E
10.6×
Fwd P/E
11.7×
Dividend yield
2.64%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2021

  • Retail Annuities
  • Closed Life and Annuity Blocks
  • Institutional Products

Every year since 2021 →

Insider Decisions last twelve months

Sold, $m 2.74
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — — — 2 — — —
Insider Ownership 9.91%

Capital & Financial Ratios $m

Size
Market Cap 8,770.00
Revenue ttm 6,600.00
Net income ttm 924.00
Free cash flow ttm 5,932.00
Net debt Q 1,134.00
Valuation
P/E 10.57
Forward P/E 11.70
Price / sales 1.37
Forward P/S Powerpack
Price / FCF 1.53
Price / book 1.07
Financial health
Current ratio Q 0.22
Debt / equity Q 0.58
Interest coverage Q 28.03
Growth
Revenue growth Q +8.90% (above 0%: growing)
Operating income growth Q +1,288.89% (above 0%: growing)
EPS, this year +20.89% (at or above 15%: strong)
EPS, next year A +15.87% (at or above 15%: strong)
Revenue, next year A +19.86% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +16.73% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 74.76%
10-year low 10-year high
P/S against its own 10 years 61.88%
10-year low 10-year high
P/B against its own 10 years 99.15%
10-year low 10-year high

Dividends raised every year since 2021

Yield
2.64%
Annual rate
3.50
Payout ratio
28.0%
Growth, 2021–25
+59.1%/yr
  1. 0.50 ’21
  2. 2.20 ’22 +340
  3. 2.48 ’23 +13
  4. 2.80 ’24 +13
  5. 3.20 ’25 +14
  6. 3.60 ’26e +13
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,688 3,767 5,704 4,101
Receivables 25,571 21,951 19,636 17,601
Inventory — — — —
Other — — — —
28,259 25,718 25,340 21,702
2023 2024 2025 Q'26
Payables 31,850 27,814 25,856 23,185
ST’ Debt — — — —
Other 55,319 58,312 67,663 76,249
87,188 87,680 94,555 99,963

Compound Annual Growth %

10y 5y 3y
Sales — 13.51% (12.12%)
Cash Flow — 9.18% 3.42%
Earnings — 0.00% 0.00%
Book Value — 0.83% 3.32%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY25 Estimate 5.10 Actual 6.16

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY24 4.72 4.65 Miss by 0.07
Q1 FY25 4.93 5.10 Beat by 0.17
Q2 FY25 4.61 4.87 Beat by 0.26
Q3 FY25 5.10 6.16 Beat by 1.06

EPS $

Mar Jun Sep Dec Year
’26 (6.24) 9.16 12.71 — —
’25 (0.48) 2.34 0.92 (3.13) (0.24)
’24 9.94 3.43 (6.37) 4.45 11.74
’23 (18.11) 14.21 33.35 (19.64) 10.76
’22 22.51 32.56 16.83 (12.69) 64.23
’21 31.76 (5.72) 2.18 9.47 33.69
’20 19.02 (71.18) (4.05) 0.80 (24.19)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,902 168 1,542 — —
’25 3,750 (471) 1,416 1,988 6,683
’24 (322) 1,247 2,121 225 3,271
’23 (764) 380 2,585 882 3,083
’22 2,221 6,694 2,962 (2,029) 9,848
’21 5,507 232 1,575 (954) 6,360
’20 4,827 (2,333) 111 601 3,546
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,045 1,849 1,417 — —
’25 1,594 1,173 1,370 1,621 5,758
’24 1,426 1,478 1,364 1,525 5,793
’23 1,461 1,086 1,129 1,634 5,310
’22 833 1,219 889 2,265 5,206
’21 1,344 804 1,387 2,147 5,682
’20 1,092 1,402 1,046 1,330 3,712
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,045 1,849 1,417 — —
’25 1,594 1,173 1,370 1,621 5,758
’24 1,426 1,478 1,364 1,525 5,793
’23 1,461 1,086 1,129 1,634 5,310
’22 833 1,219 889 2,265 5,206
’21 1,344 804 1,387 2,147 5,682
’20 1,092 1,402 1,046 1,330 3,712
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 14.4% a year for ten years.

Implied
14.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — 13,677 3,478 3,546 6,360 9,848 3,083 3,271 6,683 6,600 (9.7%) 8,010 8,556 9,112 +10.9%
Gross margin, % — — 0.00 (48.68) (82.80) 27.74 55.73 (51.12) (46.84) 26.01 23.45 +26.0 pt
EBT — — 2,393 (811) (2,491) 4,345 7,734 958 1,022 (114) 907 n/m
EBT margin, % — — 17.50 (23.32) (70.25) 68.32 78.53 31.07 31.24 (1.71) 13.74 (19.2) pt
Net income — — 1,986 (442) (1,637) 3,679 6,229 954 976 72 924 (37.7%)
Per share, $
Per share, $ Revenue — — 145.50 92.04 52.41 67.66 115.16 37.69 43.01 94.15 96.64 (6.0%)
Earnings — — 21.02 (13.16) (24.19) 33.86 66.62 10.99 11.86 (0.24) 12.55 n/m
Cash flow — — 61.94 115.60 54.86 60.45 60.88 64.91 76.17 81.12 86.85 +3.9%
Capex — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow — — 61.94 115.60 54.86 60.45 60.88 64.91 76.17 81.12 86.85 +3.9%
Book value — — 0.00 0.00 146.66 117.82 109.67 126.33 131.26 145.71 131.83 n/m
Shares, m — — 94 38 68 94 86 82 76 71 70 (3.9%)
Valuation, ×
Valuation, × P/E — — 1.38 1.38 1.38 1.10 0.56 4.81 7.49 0.00 10.57 2.3
P/S — — 0.46 0.46 0.46 0.62 0.30 1.34 2.02 1.13 1.37 0.8
P/B — — 0.27 0.27 0.27 0.36 0.32 0.42 0.70 0.77 1.07 0.4
EV/Sales — — 0.27 0.27 0.27 1.09 0.47 2.29 2.70 1.21 — 1.1
EV/FCF — — 0.39 0.39 0.39 1.23 0.89 1.33 1.53 1.40 — 0.9
Cash, $m
Cash, $m Operating cash flow — — 5,822 4,368 3,712 5,682 5,206 5,310 5,793 5,758 5,932 (0.2%)
Capex — — — — — — — — — — — —
Free cash flow — — 5,822 4,368 3,712 5,682 5,206 5,310 5,793 5,758 5,932 (0.2%)
Balance, $m
Balance, $m Working capital — — — — (81,824) (72,240) (60,948) (58,929) (61,962) (69,215) (78,261) (3.3%)
Net debt — — — 2,753 (1,697) 1,430 69 1,337 610 (1,096) 1,134 n/m
Shareholders’ equity — — — — 9,923 11,074 9,378 10,334 9,982 10,342 9,004 +0.8%
Returns, %
Returns, % ROA — — 0.00 (0.16) (0.92) 0.94 1.79 0.28 0.27 0.00 0.24 0.0 pt
ROIC — — — (18.41) (18.93) 21.72 51.17 5.13 6.03 (0.77) 5.59 +17.6 pt
ROE — — 0.00 (6.11) (19.50) 32.55 60.49 9.37 9.37 (0.18) 9.12 (0.2) pt
People
People Employees — — — — — 3,500 3,895 3,840 3,970 3,890 — +2.7%
Revenue/emp, $m — — 0.00 0.00 0.00 1.82 2.53 0.80 0.82 1.72 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Where the money comes from and where it goes Fiscal 2021

Fiscal 2021: revenue by segment, and margins
Retail Annuities 5,442 85.57%
Closed Life and Annuity Blocks 1,698 26.70%
Institutional Products 257 4.04%
Gross margin 27.74%
Operating margin 68.32%
Pre-tax margin 68.32%

Revenue by segment since 2021

Jackson Financial Inc. vs peers in Insurance Life (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PUK Prudential Public Limited Company $30.7B 17.4× — −52.23% (below 0%: shrinking) +122.99% (above 0%: growing) −99.72% (below 0%: shrinking) 0.00% 0.00% Compare
GL Globe Life Inc. $12.2B 10.4× 10.5× +5.48% (above 0%: growing) −2.08% (below 0%: shrinking) +0.88% (above 0%: growing) 45.55% 30.02% Compare
UNM Unum Group $11.7B 52.2× 12.9× −24.59% (below 0%: shrinking) n/m +231.54% (above 0%: growing) 11.62% (19.45%) Compare
PRI Primerica, Inc. $8.9B 11.3× 11.1× +7.36% (above 0%: growing) +6.45% (above 0%: growing) +45.73% (above 0%: growing) 0.00% 0.00% Compare
JXN Jackson Financial Inc. $8.8B 10.6× 11.7× +8.90% (above 0%: growing) +1,269.71% (above 0%: growing) +3.43% (above 0%: growing) 17.70% 67.25%
LNC Lincoln National Corporation $7.5B 2.4× 4.5× +20.33% (above 0%: growing) +220.93% (above 0%: growing) +176.69% (above 0%: growing) 0.00% 0.00% Compare
CNO CNO Financial Group, Inc. $5.2B 12.6× 14.0× −8.64% (below 0%: shrinking) +628.08% (above 0%: growing) +7.63% (above 0%: growing) 55.45% 26.20% Compare
GNW Genworth Financial, Inc. $3.4B 68.8× 26.2× −7.29% (below 0%: shrinking) n/m +14.94% (above 0%: growing) 23.86% 1.34% Compare
FG F&G Annuities & Life, Inc. $2.8B 7.2× 7.9× +4.18% (above 0%: growing) n/m −8.11% (below 0%: shrinking) 16.89% (3.73%) Compare
Median of peers $8.2B 12.0× 11.1× −1.56% +122.99% +11.29% 14.26% 0.00%

All 17 Insurance Life stocks →

From the latest earnings call

Updated

  • CEO Don Cummings said spread-based products accounted for nearly 60% of retail annuity sales and described plans to expand distribution through an AARP program.
  • Cummings said rising markets and interest rates can create a liquidity headwind at Brooke Re, while CFO Brian Walta said internal trades offset part of its reinsurance balance.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 92.26%
Held by the ten largest 53.67%
Holder Shares Stake Change
Vanguard 9.17m 13.46% −35.69k
BlackRock 6.80m 9.97% −100.07k
TPG GP A, LLC 4.72m 6.92% 0.00
Dimensional Fund Advisors 4.12m 6.04% +56.81k
State Street 2.97m 4.36% +40.77k
Geode Capital Management 2.30m 3.37% +116.11k
DONALD SMITH & CO., INC. 1.79m 2.62% −103.29k
HSBC 1.75m 2.57% +263.84k
Goldman Sachs 1.52m 2.23% −105.51k
American Century 1.46m 2.14% −69.11k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 7 April 2026

Ownership

Directors and executive officers, together 1.40%
BlackRock, Inc. 9.80%
TPG GP A, LLC, James G. Coulter, and Jon Winkelried c/o TPG Inc. 6.70%
Dimensional Fund Advisors LP 5.30%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Jackson Financial Inc. (JXN) Latest News

4 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby

3 Nov

Impact 3 · · StockStory
Impact 3 · · Associated Press
Impact 3 · · Business Wire

29 Oct

Impact 3 · · Business Wire

28 Oct

Impact 4 · · Business Wire

26 Oct

Impact 4 · · Business Wire

28 Sep

Impact 3 · · Business Wire

24 Sep

Impact 4 · · Simply Wall St.

17 Sep

Impact 4 ·
Impact 3 ·

16 Sep

Impact 4 · · MarketBeat

26 Aug

Impact 3 · · 24/7 Wall St.

10 Aug

Impact 4 · · The Motley Fool transcript

8 Aug

Impact 3 ·

5 Aug

Impact 3 · · MarketBeat

4 Aug

Impact 4 ·
Impact 3 · · Moby transcript

3 Aug

Impact 4 ·

8 Jun

Impact 3 · · Business Wire

14 May

Impact 3 ·

11 May

Impact 4 · · MarketBeat

10 May

Impact 4 · · Simply Wall St.

6 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

5 May

Impact 4 · · Business Wire

4 May

Impact 4 · · StockStory

16 Mar

Impact 3 · · financial-planning.com

JXN metrics, ten years each

stockrow.com/JXN · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com