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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $6.5B | - | $27M | $5.8B | 0.3% | 110.6% | -97.1% |
| 2024 | $3.1B | - | $946M | $5.8B | 10.2% | -2.3% | 1.3% |
| 2023 | $3.2B | - | $934M | $5.3B | 9.7% | -67.4% | -84.9% |
| 2022 | $9.7B | - | $6.2B | $5.2B | 71.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 9,720 | 3,165 | 3,092 | 6,511 |
| EBIT | - | 7,832 | 1,067 | 1,123 | -14 |
| Pretax Income | - | 7,734 | 958 | 1,022 | -114 |
| Tax Provision | - | 1,505 | 4 | 46 | -186 |
| Net Income | - | 6,186 | 934 | 946 | 27 |
| Net Income Common Stockholders | - | 6,186 | 899 | 902 | -17 |
| Total Expenses | - | 1,986 | 2,207 | 2,070 | 6,625 |
| Interest Expense | - | 98 | 109 | 101 | 100 |
| Selling General And Administration | - | 875 | 1,007 | 1,120 | 1,067 |
| Normalized Income | - | 6,186 | 934 | 946 | 27 |
| Market Cap | 7,962.74 | 7,962.74 | 7,962.74 | 7,962.74 | 7,962.74 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jackson Financial Inc.this co. | JXN | - | 294.92β premium | 0.85 | 0.3% | - |
| Seacoast Banking Corporation of Florida | SBCF | $2.8B | 21.13 | 1.13 | 5.3% | - |
| Merchants Bancorp | MBIN | $2.8B | 10.29 | 1.30 | 12.6% | - |
| Artisan Partners Asset Management Inc. | APAM | $2.7B | 9.24 | 6.11 | 66.2% | 5.40 |
| The Bancorp, Inc. | TBBK |
| - |
| - |
| - |
| - |
| - |
| $2.6B |
| 10.71 |
| 3.54 |
| 33.1% |
| - |
| Acadian Asset Management Inc. | AAMI | $2.5B | 30.27 | 39.96 | 132.0% | 14.22 |
| WisdomTree, Inc. | WT | $2.3B | 21.24 | 5.60 | 26.4% | 16.65 |
| Hilltop Holdings Inc. | HTH | $2.3B | 12.95 | 0.99 | 7.6% | - |
| Stewart Information Services Corporation | STC | $2.0B | 18.87 | 1.33 | 7.0% | - |
| Peer Median | - | 15.91 | 2.44 | 19.5% | 14.22 | |