Jackson Financial Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Jackson Financial Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,478	3,546	6,360	9,848	3,083	3,271	6,683
General and administrative	994	985	1,078	875	1,007	1,120	1,067
Interest expense	99	88	37	98	109	101	100
Pre-tax income	-811	-2,491	4,047	7,734	958	1,022	-114
Income tax	-369	-854	666	1,505	4	46	-186
Net income to minority interests		-3	262	43	20	30	45
Net income	-497	-1,634	3,417	6,186	934	946	27
EPS, basic	-14.13	-25.92	36.35	72.34	10.99	11.86	-0.24
EPS, diluted	-14.13	-25.92	36.17	69.75	10.76	11.74	-0.24
Shares, basic (weighted)	35.2	63	94	85.5	81.8	76	71
Shares, diluted (weighted)	35.2	63	94.5	88.7	83.6	76.8	71.2
Dividend per share			0.50

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,935	2,019	2,623	4,298	2,688	3,767	5,704
Lease right-of-use assets		37	31	26	24	20	54
Total assets		353,456	375,559	314,983	330,255	338,450	352,586
Short-term debt		0		311	970
Total liabilities		343,533	364,485	305,605	319,921	328,468	342,244
Total debt		322	2,649	2,635	2,037	2,034	2,030
Paid-in capital		5,927	6,051	6,063	6,005	6,046	6,063
Retained earnings		-324	2,809	6,403	7,038	7,713	7,471
Treasury stock		0	-211	-443	-599	-1,007	-1,645
Other comprehensive income	2,397	3,821	1,744	-3,378	-2,808	-3,522	-2,470
Shareholders' equity		9,429	10,394	8,646	10,170	9,764	9,953
Minority interests		494	680	732	164	218	389
Total equity	7,322	9,923	8,321	9,378	10,334	9,982	10,342
Total liabilities and equity		353,456	375,559	314,983	330,255	338,450	352,586
Shares outstanding	35.2	88	88.7	82.7	78.7	73.4	66.8

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-442	-1,637	3,679	6,229	954	976	72
Depreciation and amortization	11	11	11
Stock-based compensation	79	56	129	131	107	191	132
Deferred income tax	-674	-776	739	1,547	-207	294	-173
Cash from operations	4,368	3,712	5,682	5,206	5,310	5,793	5,758
Sales and maturities of investments	6,520	25,533	9,600	8,000	6,800	4,300	2,900
Cash from investing	-8,329	-4,333	-1,296	-1,374	-592	-7,090	-7,756
Debt issued	0	0	0	0	297	948	736
Debt repaid			0	0	-351	-526	-527
Stock issued	0	500	0	0
Share buybacks	0	0	-211	-321	-306	-442	-669
Dividends paid	0	0	-50	-186	-201	-211	-223
Cash from financing	1,927	705	-3,774	-2,162	-6,328	2,373	3,935
Net change in cash	-2,034	84	612	1,670	-1,610	1,076	1,937
Interest paid	31	81	30	107	183	263	233
Income taxes paid	395	4	-403	-5	-21	-8	-97

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $133.12 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	-0.3%	Pre-tax income / revenue.
Net margin	1.6%	Net income / revenue.
Operating cash flow margin	90.9%	Cash from operations / revenue.
Return on equity (ROE)	1.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.0%	Net income / average total assets.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	104.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-12.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-97.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-83.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-102.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-0.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	3.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-0.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-7.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-7.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.28x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.8%	Total debt / total assets.
Liabilities / assets	97.1%	Total liabilities / total assets.
Net debt	-$3.22B	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$9.96B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.02x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.47	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$92.10	Revenue / diluted weighted shares.
Operating cash flow per share	$83.72	Cash from operations / diluted weighted shares.
Book value per share	$146.10	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$146.10	Tangible book value / shares outstanding.
Cash per share	$87.79	(Cash + short-term investments) / shares outstanding.
Payout ratio	227.2%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$9.02B	Share price x shares outstanding.
Enterprise value	$5.80B	Market cap + total debt - cash - short-term investments.
P/E	87.5x	Market cap / net income. Only when net income is positive.
P/S	1.39x	Market cap / revenue.
P/B	0.91x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.91x	Market cap / tangible book value, when positive.
P/OCF	1.53x	Market cap / cash from operations, when positive.
EV/Sales	0.90x	Enterprise value / revenue.
Earnings yield	1.1%	Net income / market cap (the inverse of P/E).
Dividend yield	2.6%	Dividends paid over the period / market cap.
Shareholder yield	11.1%	(Dividends paid + share buybacks) / market cap.

What was Jackson Financial Inc.'s revenue in fiscal 2025?

Jackson Financial Inc. reported revenue of $6.68B for fiscal 2025, 104.3% higher than the year before.

Was Jackson Financial Inc. profitable in fiscal 2025?

Yes. Net income was $27.0M, a net margin of 0.4%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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