Jackson Financial Inc.JXN
NYSE•Financial Services•Insurance - Life
Jackson Financial Inc., through its subsidiaries, provides suite of annuities to retail investors in the United States. It operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions. The Institutional Products segment provides traditional guaranteed investment contracts; funding agreements backed by commercial paper; funding agreements comprising agreements issued in conjunction with its participation in the U.S. federal home loan bank program; and medium-term funding agreement-backed notes. The Closed Life and Annuity Blocks segment offers various protection products, such as whole life, universal life, variable universal life, and term life insurance products, as well as fixed, fixed index, and payout annuities. The company also provides investment management services. It sells its products through a distribution network that includes independent broker-dealers, wirehouses, regional broker-dealers, banks, independent registered investment advisors, third-party platforms, and insurance agents. The company was formerly known as Brooke (Holdco1) Inc. and changed its name to Jackson Financial Inc. in July 2020. Jackson Financial Inc. was incorporated in 2006 and is headquartered in Lansing, Michigan.
Jackson Financial Inc. (JXN) reported trailing twelve months revenue of $5.83B as of March 2026, a 20.5% decline year-over-year. Quarterly revenue reached $2.90B, reflecting a contraction in sales.
Jackson Financial Inc. reported a TTM net loss of $373.00M, with quarterly EBITDA of $2.17B. The operating margin contracted from 81.9% to 74.7%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (74.7%) and net margin (-14.6%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from -0.6% a year ago, reflecting increased costs or interest expense.
JXN trades at a P/S of 1.3x. The price-to-book ratio of 0.8x suggests the stock trades below its book value.
The company generated $1.04B in free cash flow over the trailing twelve months, a 34.4% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $339.54B in total assets with $2.03B in long-term debt against $9.50B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 20 quarters of fundamental data
Operating margins are under pressure, averaging 50.6%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has grown modestly overall (~31.9%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 20 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 9.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation