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 $7.5B — 1.2× the size. Lincoln National Corporation trades at the lower P/E: 2.4× against 10.4×. Jackson Financial Inc. grew revenue faster over the last twelve months: 34.2% against 10.4%. Lincoln National Corporation has the higher net margin (15.8% vs 12.7%) and the higher return on invested capital (45.1% vs 5.59%). Both pay a dividend; Lincoln National Corporation yields more (4.51% vs 2.67%). Across the 21 metrics below, Lincoln National Corporation leads on 13 and Jackson Financial Inc. on 8.

Valuation

Metric JXN LNC Insurance Life median
P/E 10.45 2.36 11.46
P/S 1.36 0.38 0.79
P/B 1.06 0.87 1.09
Price to free cash flow 1.51 11.18 7.43
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.57% 42.39% 8.72%
Free cash flow yield 66.25% 8.95% 13.37%

Profitability

Metric JXN LNC Insurance Life median
Gross margin 23.45% 21.63% 27.05%
Operating margin 15.47% 21.63% 13.95%
Net margin 12.74% 15.75% 10.16%
Free cash flow margin 89.88% 3.40% 15.61%
Return on equity 9.12% 34.80% 10.05%
Return on assets 0.24% 0.77% 0.77%
Return on invested capital 5.59% 45.09% 7.11%

Growth

Metric JXN LNC Insurance Life median
Revenue growth (TTM) 34.15% 10.35% 4.14%
EPS growth (last fiscal year) (102.04%) (68.33%) (3.45%)
Revenue growth, 5-year CAGR 13.51% 0.87% 1.33%
Net income growth, 5-year CAGR 0.00% 16.83% 0.00%

Health

Metric JXN LNC Insurance Life median
Debt to equity 0.58 0.68 0.50
Current ratio 0.22 0.19 0.21
Net debt to EBITDA 20.68 (2.07) 0.12

Dividend

Metric JXN LNC Insurance Life median
Dividend yield 2.67% 4.51% 2.32%
Payout ratio 0.28 0.11 0.18

Size

Metric JXN LNC Insurance Life median
Market cap 8.77b 7.50b 7.50b

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