Jackson Financial (JXN) FY2024 results: revenue $3.3 billion, up 6.1% on the year

Jackson Financial Inc. (JXN) reported revenue of $3.3 billion for fiscal 2024, the year ended 31 December 2024, up 6.1% on the year before. Net income was $946 million, up 1.3%, and diluted earnings per share $11.74. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.

Revenue

$3.3 billion

+6.1% on the year

FY2019FY2024

Operating margin

13.6%

17.3% a year earlier

FY2019FY2024

Net income

$946 million

+1.3% on the year

FY2019FY2024

Diluted EPS

$11.74

+9.1% on the year

FY2019FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	3,271	3,083	9,848	+6.1%
Operating income	446	534	7,416	-16.5%
Operating margin	13.6%	17.3%	75.3%
Interest expense	101	109	98.0	-7.3%
Pre-tax income	1,022	958	7,734	+6.7%
Income tax	46.0	4.0	1,505	+1,050.0%
Effective tax rate	4.5%	0.4%	19.5%
Net income	946	934	6,186	+1.3%
Net margin	28.9%	30.3%	62.8%
Diluted EPS	$11.74	$10.76	$69.75	+9.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	5,793	5,310	5,206	+9.1%
Cash from investing	-7,090	-592	-1,374
Cash from financing	2,373	-6,328	-2,162
Share-based compensation	191	107	131	+78.5%
Buybacks	442	306	321	+44.4%
Dividends paid	211	201	186	+5.0%
Diluted shares, weighted	77m	84m	89m	-8.1%
Shares outstanding at period end	73m	79m	83m	-6.7%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	9,764	10,170	8,646	-4.0%
Non-controlling interest	218	164	732	+32.9%
Short-term borrowings	n/a	970	311
Debt	2,034	2,037	2,635	-0.1%
Other liabilities	326,434	316,914	302,659	+3.0%
Total liabilities and equity	338,450	330,255	314,983	+2.5%
Securities held for sale or to maturity	40,289	40,422	42,489	-0.3%
Loans	9,911	10,563	10,967	-6.2%
Cash and equivalents	3,767	2,688	4,298	+40.1%
Other assets	284,483	276,582	257,229	+2.9%
Total assets	338,450	330,255	314,983	+2.5%

10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.