The firm maintains a stable capital position with total equity between $9.5 billion and $10.7 billion, though the balance sheet remains sensitive to derivative accounting mismatches.
| Total Assets | 328.83B | 352.59B | 338.45B | 330.25B | 314.98B | 375.56B | 353.46B | 297.06B | 259.33B |
| Asset Growth % | 8.72% | 4.18% | 2.48% | 4.85% | -16.13% | 6.25% | 18.99% | 14.55% | - |
| Total Investment Assets | 4M | 69.23B | 83.82B | 60.85B | 65.95B | 74.23B | 80.49B | 76.97B | 0 |
| Long-Term Investments | 357.82B | 21.46B | 43.53B | 43.04B | 45.16B | 53.65B | 60.65B | 58.81B | 0 |
| Short-Term Investments | 0 | 47.77B | 40.29B | 40.42B | 42.49B | 51.55B | 59.08B | 57.09B | 0 |
| Total Current Assets | 5.54B | 73.74B | 66.01B | 0 | 0 | 0 | 0 | 0 | 3.97B |
| Cash & Equivalents | 5.54B | 5.7B | 3.77B | 2.69B | 4.3B | 2.62B | 2.02B | 1.93B | 3.97B |
| Receivables | 62.1B | 20.27B | 21.95B | 25.57B | 29.06B | 33.13B | 35.27B | 8.37B | 0 |
| Other Current Assets | 0 | 0 | 0 | -68.68B | -75.85B | -87.3B | -96.36B | -67.4B | 0 |
| Goodwill & Intangibles | 34.99B | 11.66B | 0 | 0 | 0 | 0 | 0 | 0 | 10.66B |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 11.66B | 0 | 0 | 0 | 0 | 0 | 0 | 10.66B |
| PP&E (Net) | 0 | 0 | 20M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 28.22B | 245B | 225.26B | -43.04B | -45.16B | -53.65B | -60.65B | -58.81B | 244.71B |
| Total Liabilities | 318.93B | 342.24B | 328.47B | 319.92B | 305.61B | 364.49B | 343.53B | 289.74B | 251.47B |
| Total Debt | 2.03B | 4.61B | 4.38B | 4.03B | 4.37B | 4.05B | 322M | 2.69B | 331.9M |
| Net Debt | -3.51B | -1.1B | 610M | 1.34B | 69M | 1.43B | -1.7B | 757.3M | -3.64B |
| Long-Term Debt | 2.03B | 4.61B | 4.38B | 4.03B | 4.37B | 4.05B | 322M | 2.69B | 331.9M |
| Short-Term Debt | 0 | 0 | 8M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 16.31B | 16.74B | 0 | 0 | 0 | 0 | 0 | 121.1M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 15.28B | 16.73B | 0 | -22.96B | -29.01B | -31.97B | -48.3M | -121.1M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 316.9B | 321.32B | 307.35B | -4.03B | -4.37B | -4.05B | -322M | -2.69B | 251.14B |
| Total Equity | 9.9B | 10.34B | 9.98B | 10.33B | 9.38B | 11.07B | 9.92B | 7.32B | 7.86B |
| Equity Growth % | -2.96% | 3.61% | -3.41% | 10.19% | -15.32% | 11.6% | 35.55% | -6.89% | - |
| Shareholders Equity | 9.5B | 9.95B | 9.76B | 10.17B | 8.65B | 10.39B | 9.43B | 6.84B | 7.47B |
| Minority Interest | 404M | 389M | 218M | 164M | 732M | 680M | 494M | 484.1M | 390.2M |
| Retained Earnings | 6.97B | 7.47B | 7.71B | 7.04B | 6.4B | 2.81B | -324M | 1.37B | 2.74B |
| Common Stock | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 0 | 0 |
| Accumulated OCI | -2.73B | -2.47B | -3.52B | -2.81B | -3.38B | 1.74B | 3.83B | 2.4B | -343.3M |
| Return on Equity (ROE) | -3.72% | 0.27% | 9.31% | 9.48% | 60.49% | 32.55% | -18.95% | -6.55% | 25.25% |
| Return on Assets (ROA) | -0.11% | 0.01% | 0.28% | 0.29% | 1.79% | 0.94% | -0.5% | -0.18% | 0.77% |
| Equity / Assets | 3.01% | 2.93% | 2.95% | 3.13% | 2.98% | 2.95% | 2.81% | 2.46% | 3.03% |
| Debt / Equity | 0.20x | 0.45x | 0.44x | 0.39x | 0.47x | 0.37x | 0.03x | 0.37x | 0.04x |
| Book Value per Share | 140.87 | 147.16 | 129.96 | 123.65 | 105.74 | 124.87 | 105.04 | 77.50 | 83.23 |
| Tangible BV per Share | 140.87 | -18.75 | 129.96 | 123.65 | 105.74 | 124.87 | 105.04 | 77.50 | -29.58 |
Derivative hedging volatility exposure
As reported in financial statements, Jackson Financial's total equity has fluctuated within a narrow range of $9.5 billion to $10.7 billion over the last ten quarters, suggesting that the firm's capital base remains resilient despite the significant earnings volatility inherent in its variable annuity business model.
The relative stability of the equity base indicates that management has successfully navigated market cycles without permanent capital impairment. Investors should monitor whether this capital preservation continues as the firm shifts its product mix toward lower-capital-intensity offerings like RILAs.
Based on quarterly data, the company's claims and loss reserves have exhibited extreme volatility, ranging from a negative $2.1 billion to a positive $2.9 billion, which appears to be a direct consequence of mark-to-market adjustments on the firm's complex variable annuity guarantee liabilities.
These swings suggest that reserve levels are highly sensitive to equity market performance and interest rate shifts rather than purely actuarial changes. This volatility warrants further investigation into the underlying adequacy of the reserves during periods of prolonged market stress.
According to recent SEC filings, the company maintains a consistent equity position despite reporting negative net income in several periods, which suggests that the firm's statutory capital position remains sufficient to support ongoing dividend distributions and share repurchase programs without compromising its long-term solvency profile.
The ability to return capital while navigating GAAP earnings pressure implies a focus on maintaining regulatory capital buffers. Analysts should continue to evaluate whether this capital allocation strategy remains sustainable if market volatility increases the cost of hedging future policyholder guarantees.
As evidenced by the divergence between total assets and total liabilities, the balance sheet appears heavily influenced by derivative accounting, where the firm's hedging assets may not perfectly offset the valuation of annuity liabilities under current GAAP reporting standards, creating a persistent risk of perceived balance sheet fragility.
This accounting mismatch may lead to an underestimation of the firm's true economic strength by market participants. Investors should monitor the impact of LDTI accounting standards on the reported liability values to better understand the underlying economic risk of the annuity block.
Quick answers to the most common questions about buying JXN-PA stock.
As of 2025, Jackson Financial Inc. (JXN-PA) had total assets of $352.59B including $73.74B in current assets.
Jackson Financial Inc. (JXN-PA) carries total debt of $4.61B, offset by $53.47B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jackson Financial Inc. (JXN-PA) has total shareholders' equity (book value) of $9.95B ($147.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jackson Financial Inc. (JXN-PA) reported a current ratio of 4.52x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.