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JXN

Jackson Financial Inc.

JXN

Jackson Financial Inc. • NYSE
$98.01 ▲ 0.16% (+0.16)
Market Cap $6.66 B
52w High $104.61
52w Low $64.70
Dividend Yield 3.10%
P/E 13.71
Volume 226.78K
Outstanding Shares 67.97M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.349B ▲ $300M ▼ $76M ▼ 5.634% ▲ $0.93 ▼ $97M ▼
Q2-2025 $-483M ▼ $363M ▲ $179M ▲ -37.06% ▼ $2.34 ▲ $214M ▲
Q1-2025 $3.723B ▲ $335M ▲ $-24M ▼ -0.645% ▼ $-0.48 ▼ $8M ▼
Q4-2024 $158M ▼ $321M ▼ $345M ▲ 218.354% ▲ $4.64 ▲ $405M ▲
Q3-2024 $2.093B $389M $-469M -22.408% $-6.37 $-554M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $50.649B ▲ $353.558B ▲ $343.057B ▲ $10.229B ▼
Q2-2025 $47.598B ▲ $343.722B ▲ $333.12B ▲ $10.354B ▲
Q1-2025 $46.13B ▲ $327.193B ▼ $316.668B ▼ $10.301B ▲
Q4-2024 $44.056B ▼ $338.45B ▼ $328.468B ▼ $9.764B ▼
Q3-2024 $45.35B $345.662B $334.755B $10.698B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $91M ▼ $1.37B ▲ $-2.094B ▲ $1.502B ▲ $778M ▲ $1.37B ▲
Q2-2025 $185M ▲ $1.173B ▼ $-2.765B ▼ $1.489B ▲ $-103M ▼ $1.173B ▼
Q1-2025 $-18M ▼ $1.594B ▲ $-953M ▲ $-521M ▼ $120M ▼ $1.594B ▲
Q4-2024 $358M ▲ $1.525B ▲ $-2.769B ▼ $1.95B ▲ $706M ▼ $1.525B ▲
Q3-2024 $-466M $1.364B $-401M $359M $1.322B $1.364B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Closed Life And Annuity Blocks Segment
Closed Life And Annuity Blocks Segment
 $630.00M ▲$330.00M ▼$310.00M ▼$320.00M ▲
Institutional Products Segment
Institutional Products Segment
 $220.00M ▲$120.00M ▼$130.00M ▲$150.00M ▲
Retail Annuities Segment
Retail Annuities Segment
 $2.67Bn ▲$1.30Bn ▼$1.29Bn ▼$1.41Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Jackson’s income statement shows a business that has been solidly profitable in recent years but with very choppy reported results, which is common in the annuity and life insurance space. Revenue has bounced around rather than growing smoothly, reflecting market-driven accounting swings more than simple sales trends. Despite that, operating profits and net income have been strong for several years in a row, recovering well from a loss earlier in the period. The extremely high earnings figures in the middle of the period look more like one‑time or market‑driven spikes than a sustainable level, so they should be viewed as noisy rather than a new baseline. Overall, the company appears to be running at healthy profit levels now, but with an earnings profile that can move sharply with markets and interest rates.

Balance Sheet

Balance Sheet Jackson’s balance sheet is large and typical of a life insurer: a big investment portfolio on the asset side supporting long‑dated policy promises on the liability side. Debt is relatively modest compared with total assets and has only inched up over time, which suggests leverage is present but not aggressive for a company of this scale. Shareholders’ equity is a small slice of the total balance sheet but has generally grown, implying retained earnings and some strengthening of the capital base. Cash on hand is small relative to total assets, which is normal for insurers that invest most available funds, but it does mean liquidity and capital quality are more important to track than the raw cash balance. The main balance‑sheet risks remain market volatility, credit conditions in the investment portfolio, and regulatory capital requirements, rather than simple over‑borrowing.

Cash Flow

Cash Flow Cash generation looks like a clear strength. Operating cash flow has been consistently positive and has trended upward over the five‑year period, even in years when reported profits were more volatile. The business requires almost no traditional capital expenditure, so most operating cash flow effectively becomes free cash flow that can support reserves, dividends, buybacks, or debt management. This pattern suggests the underlying franchise throws off substantial cash in normal conditions. The key caveat is that insurance cash flows can be stressed in severe market or claims environments, so stability in calm years does not fully eliminate tail‑risk scenarios.

Competitive Edge

Competitive Edge Jackson operates in a specialized corner of financial services—retirement income and annuities—where scale, relationships, and regulation create meaningful barriers to entry. Its broad distribution network through independent advisors, broker‑dealers, and banks gives it wide market reach and helps embed the brand deeply into the advisor community. The company offers a full suite of annuity products, from variable to fixed and index‑linked, allowing it to adapt to changing investor preferences and shifts in markets. Regulatory and capital hurdles further limit new competitors, reinforcing its position. Risks include intense competition from other large insurers, product complexity that can attract regulatory scrutiny, and the need to keep advisors engaged as platforms and client expectations evolve.

Innovation and R&D

Innovation and R&D Jackson is leaning into technology and product design rather than traditional lab‑style R&D. Its digital platforms for advisors, including the RILA digital ecosystem and tools that match clients with suitable products, aim to make complex retirement solutions easier to understand and implement. On the product side, the company is pushing registered index‑linked annuities and newer fixed index offerings that balance growth potential with downside protection, which fits current retiree concerns about volatility and income. Awards and recognition for its technology suggest it is not just following peers but trying to shape advisor workflows. The strategic question is whether Jackson can keep these tools and products evolving fast enough to stay ahead of competitors and shifting regulation, but the current direction shows a clear commitment to innovation.

Summary

Overall, Jackson Financial looks like a mature, capital‑intensive insurer that has moved from a volatile and sometimes loss‑making period into a phase of steadier, strong profitability and robust cash generation. The balance sheet is large and complex but not obviously over‑leveraged, with equity and cash flow supporting an active capital‑return and risk‑management stance. Competitively, the firm benefits from entrenched distribution relationships, a recognized brand in annuities, and regulatory barriers that make it hard for new entrants to replicate its position. Its recent push into digital advisor tools and innovative annuity structures aligns well with demographic tailwinds from an aging population and growing demand for retirement income solutions. The main watch‑points are earnings volatility tied to markets and rates, the inherent complexity and regulatory sensitivity of annuity products, and the need to keep investing in technology and product design to maintain its edge over other large insurers.

NEWS

November 4, 2025 · 4:15 PM UTC

Jackson Announces Outstanding Third Quarter 2025 Results

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November 4, 2025 · 4:14 PM UTC

Jackson Announces Fourth Quarter 2025 Common and Preferred Stock Dividends

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October 13, 2025 · 4:15 PM UTC

Jackson to Report Third Quarter 2025 Financial Results on November 4

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October 8, 2025 · 4:15 PM UTC

Craig Smith to Retire as PPM America President and CEO

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September 18, 2025 · 4:15 PM UTC

Jackson Announces $1 Billion Increase to Common Share Repurchase Authorization

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