JXN
Jackson Financial Inc.
JXN's outlook is improving, though it still trails on the overall score.
MS
Morgan Stanley
MS has the edge over JXN overall, supported by stronger valuation and stronger modeled upside.
JXN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
JXN's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like JXN.
MS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MS's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MS.
JXN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 1x | $12.52 | -91% |
| Fair | 4x | $48.54 | -65% |
| Forward | 4.4x | $139 | — |
| Current | 11x | $139 | — |
| Expensive | 65x | $792 | +471% |
Historical ranges are pointers, not guarantees.
JXN's PE is in its expensive range at 11x. If earnings grow as analysts expect, today's price would be 4.4x next year's earnings, in its fair range.
MS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $134 | -29% |
| Fair | 14x | $178 | -5.7% |
| Forward | 14x | $189 | — |
| Current | 15x | $189 | — |
| Expensive | 18x | $223 | +18% |
Historical ranges are pointers, not guarantees.
MS has the edge over JXN in the historical PE scenario, which offers more potential upside but is not a forecast.
JXN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for JXN, with profitability improving.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
JXN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $31.37 | +156% |
| Q3 2026 | $12.27 | +63% |
| Q2 2026 | $0.82 | +257% |
| Q1 2026 | -$6.00 | -555% |
| Q4 2025 | -$0.24 | -102% |
| Q3 2025 | $7.52 | +$19.21 |
| Q2 2025 | $0.23 | -99% |
| Q1 2025 | $1.32 | -97% |
| Q4 2024 | $11.74 | +9.1% |
JXN's earnings per share have fallen from their peak: $12.27 over the past year, against $78.10 in late 2022.
MS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.39 | +6.3% |
| Q3 2026 | $12.60 | +29% |
| Q2 2026 | $12.37 | +40% |
| Q1 2026 | $11.04 | +29% |
| Q4 2025 | $10.21 | +28% |
| Q3 2025 | $9.76 | +48% |
| Q2 2025 | $8.84 | +45% |
| Q1 2025 | $8.53 | +55% |
| Q4 2024 | $7.95 | +53% |
MS has the edge over JXN on earnings, with more consistent year-over-year improvement.
JXN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +8.9% |
| Q1 2026 | $2.9B | -23% |
| Q4 2025 | $2B | +784% |
| Q3 2025 | $1.4B | -33% |
| Q4 2024 | $225M | -75% |
| Q3 2024 | $2.1B | -19% |
| Q2 2024 | $1.2B | +204% |
| Q3 2023 | $2.6B | -35% |
JXN's revenue is recovering but still below its 2022 peak: $1.5B last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 54% | +4.3 points |
| Q2 2026 | -309% | N/A |
| Q1 2026 | 75% | -7.3 points |
| Q4 2025 | 64% | +284 points |
| Q3 2025 | 50% | -15 points |
| Q1 2025 | 82% | N/A |
| Q4 2024 | -220% | -243 points |
| Q3 2024 | 65% | -11 points |
JXN has the edge over MS on profitability, with a higher operating margin.
MS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.3B | +12% |
| Q2 2026 | $21.3B | +27% |
| Q1 2026 | $20.6B | +16% |
| Q4 2025 | $17.9B | +10% |
| Q3 2025 | $18.2B | +18% |
| Q2 2025 | $16.8B | +12% |
| Q1 2025 | $17.7B | +17% |
| Q4 2024 | $16.2B | +26% |
MS has the edge over JXN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | -1.2 points |
| Q2 2026 | 34% | +6.9 points |
| Q1 2026 | 34% | +2.8 points |
| Q4 2025 | 32% | +2 points |
| Q3 2025 | 33% | +5.6 points |
| Q2 2025 | 28% | +0.4 points |
| Q1 2025 | 31% | +2.2 points |
| Q4 2024 | 30% | +14 points |
MS's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
JXN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +3.4% |
| Q2 2026 | $1.8B | +58% |
| Q1 2026 | $1B | -34% |
| Q4 2025 | $1.6B | +6.3% |
| Q3 2025 | $1.4B | +0.4% |
| Q2 2025 | $1.2B | -21% |
| Q1 2025 | $1.6B | +12% |
| Q4 2024 | $1.5B | -6.7% |
JXN has the edge over MS on cash generation, producing positive trailing cash flow while its opponent burns cash.
MS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$46B | -$42.7B |
| Q2 2026 | -$2.7B | -123% |
| Q1 2026 | -$7.1B | +$16.9B |
| Q4 2025 | -$2.4B | -120% |
| Q3 2025 | -$3.3B | +$14B |
| Q2 2025 | $11.8B | +368% |
| Q1 2025 | -$24B | -650% |
| Q4 2024 | $11.8B | +$29.6B |
MS's free cash flow was −$58.3B over the past year, against −$3.7B the year before. Free cash flow isn't a meaningful measure for financial services companies like MS.
JXN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.6% | -1.8M shares |
| 1 year | -2.6% | -1.8M shares |
| 3 years | -17% | -14.4M shares |
| 5 years | -28% | -26M shares |
| Available history | -28% | -26M shares |
JXN has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $233M |
| Q2 2026 | $227M |
| Q1 2026 | $227M |
| Q4 2025 | $152M |
| Q3 2025 | $157M |
| Q2 2025 | $158M |
| Q1 2025 | $202M |
| Q4 2024 | $99M |
JXN spent $839M buying back its own shares over the past year, up 36% from the year before.
MS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -3M shares |
| 1 year | -1.5% | -24M shares |
| 3 years | -4.7% | -77M shares |
| 5 years | -14% | -246M shares |
| Available history | -4.5% | -74M shares |
MS has 1.6B diluted shares, down 1.5% from a year ago.
JXN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2023 | 0.4x | Very low |
| Q4 2022 | 0.0x | Very low |
| Q3 2022 | -0.2x | Net Cash |
| Q2 2022 | -0.2x | Net Cash |
JXN's net debt is less than a year of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like JXN.
MS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.8x | High |
| Q2 2026 | 7.3x | High |
| Q1 2026 | 8.2x | High |
| Q4 2025 | 8.6x | High |
| Q3 2025 | 8.4x | High |
| Q2 2025 | 8.7x | High |
| Q1 2025 | 8.7x | High |
| Q4 2024 | 7.9x | High |
MS's net debt is about 7.8 years of its operating earnings (EBITDA), down from 8.4 years a year ago. Net leverage isn't a meaningful measure for financial services companies like MS.
JXN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.3 | Neutral |
| Stochastic | 53.7 | Neutral |
JXN's weekly RSI is 63 (neutral) and its Stochastic is 54 (neutral).
MS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 18.7 | Oversold |
MS's weekly RSI is 45 (neutral) and its Stochastic is 19 (oversold).
JXN PE vs Financial Services Sector
| Metric | JXN | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 13% below |
| PE % | 70 | 65 | 5 pts above |
JXN has the edge over MS on valuation relative to its sector.
MS PE vs Financial Services Sector
| Metric | MS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 15% above |
| PE % | 59 | 63 | 4 pts below |
MS is trading at 15x earnings, a 15% premium to the Financial Services sector's median of 13x.
JXN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $132.6 | 4.6% above |
| 20 week MA | $129.5 | 7.1% above |
| 50 week MA | $117.3 | 18% above |
| 100 week MA | $103.3 | 34% above |
| 200 week MA | $80.4 | 72% above |
JXN has the edge over MS on trend strength, trading above more of its moving averages.
MS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $186.5 | 1.5% above |
| 20 week MA | $203.3 | 6.9% below |
| 50 week MA | $191.9 | 1.4% below |
| 100 week MA | $164.9 | 15% above |
| 200 week MA | $129.3 | 46% above |
MS's trend is mixed: it's above three of its five weekly moving averages, and 46% above its 200-week average.
JXN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $28.8 | $39.9 | +39% |
| 2022 | $39.9 | $35.0 | -12% |
| 2023 | $35.0 | $51.2 | +46% |
| 2024 | $51.2 | $88.0 | +72% |
| 2025 | $88.0 | $108.2 | +23% |
| 2026 YTD | $108.2 | $138.6 | +28% |
JXN has the edge over MS on returns for 2026, with the stronger performance.
MS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.1 | $68.1 | +33% |
| 2021 | $68.1 | $99.3 | +46% |
| 2022 | $99.3 | $86.1 | -13% |
| 2023 | $86.1 | $93.3 | +8.3% |
| 2024 | $93.3 | $126.8 | +36% |
| 2025 | $126.8 | $181.9 | +43% |
| 2026 YTD | $181.9 | $189.2 | +4% |
MS has finished higher in five of the last six years. It's up 4% so far in 2026.