Jackson Financial Inc. (JXN) vs Lincoln National Corporation (LNC)

Jackson Financial Inc. and Lincoln National Corporation are both Insurance Life companies. Jackson Financial Inc. is the larger, with a market value of $8.8B against $7.9B — 1.1× the size. Lincoln National Corporation trades at the lower P/E: 3.5× against 180×. Jackson Financial Inc. grew revenue faster over the last twelve months: 15.1% against 7.91%. Lincoln National Corporation has the higher net margin (11.7% vs 0.91%) and the higher return on invested capital (24.5% vs −0.13%). Both pay a dividend; Lincoln National Corporation yields more (6.82% vs 4.77%). Across the 22 metrics below, Lincoln National Corporation leads on 15 and Jackson Financial Inc. on 7.

Valuation

Metric JXN LNC Insurance Life median
P/E 179.89 3.53 12.15
P/S 1.44 0.42 0.75
P/B 0.94 0.78 1.12
Price to free cash flow 1.59 n/m 7.78
EV/EBITDA 339.97 1.50 8.42
EV/Sales 1.58 0.25 0.80
Earnings yield 0.56% 28.33% 8.23%
Free cash flow yield 63.01% (16.52%) 11.12%

Profitability

Metric JXN LNC Insurance Life median
Gross margin 22.15% 16.35% 32.44%
Operating margin 1.25% 16.35% 11.31%
Net margin 0.91% 11.74% 6.61%
Free cash flow margin 90.90% (6.87%) 15.04%
Return on equity 0.59% 23.98% 8.67%
Return on assets 0.02% 0.55% 0.67%
Return on invested capital (0.13%) 24.53% 8.20%

Growth

Metric JXN LNC Insurance Life median
Revenue growth (TTM) 15.09% 7.91% 7.91%
EPS growth (last fiscal year) (102.04%) (68.33%) —
Revenue growth, 5-year CAGR 13.51% 0.87% 1.08%
Net income growth, 5-year CAGR 0.00% 16.83% 0.00%

Health

Metric JXN LNC Insurance Life median
Debt to equity 0.50 0.60 0.48
Current ratio 0.25 0.20 0.21
Net debt to EBITDA 20.68 (2.07) 0.12

Dividend

Metric JXN LNC Insurance Life median
Dividend yield 4.77% 6.82% 2.41%
Payout ratio 29.25 0.25 0.17

Size

Metric JXN LNC Insurance Life median
Market cap 8.81b 7.92b 7.92b

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