JXN (Jackson Financial) Beneish M-Score: -2.67 (As of Jun. 26, 2026)


JXN Jackson Financial Inc JXN
75 GF Score
Price $107.38
GF Value $156.64
Valuation Possible Value Trap
! 5 Warning Signs
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What is Jackson Financial Beneish M-Score?

Jackson Financial JXN +0.88% 75 Beneish M-Score is -2.67 as of Jun. 26, 2026. GuruFocus rates JXN with a GF Score™ of 75/100 and a GF Value™ of $156.64 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 397 Insurance companies, Jackson Financial ranks better than 69.77% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Jackson Financial's Beneish M-Score or its related term are showing as below:

JXN' s Beneish M-Score Range Over the Past 10 Years
Min: -6.08   Med: -2.33   Max: 18.84
Current: -2.67

During the past 8 years, the highest Beneish M-Score of Jackson Financial was 18.84. The lowest was -6.08. And the median was -2.33.

JXN
75GF Score
Jackson Financial Inc JXN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Jackson Financial Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Jackson Financial for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.1334+0.528 * 1+0.404 * 1+0.892 * 0.7941+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2581+4.679 * -0.016614-0.327 * 1.0164
=-2.67

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $19,047 Mil.
Revenue was 2909 + 1922 + 1349 + -483 = $5,697 Mil.
Gross Profit was 2909 + 1922 + 1349 + -483 = $5,697 Mil.
Total Current Assets was $0 Mil.
Total Assets was $339,537 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0 Mil.
Selling, General, & Admin. Expense(SGA) was $1,107 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $4,570 Mil.
Net Income was -424 + -204 + 76 + 179 = $-373 Mil.
Non Operating Income was 12 + 16 + 15 + 16 = $59 Mil.
Cash Flow from Operations was 1045 + 1621 + 1370 + 1173 = $5,209 Mil.
 Total Receivables was $21,163 Mil.
Revenue was 3723 + 158 + 2093 + 1200 = $7,174 Mil.
Gross Profit was 3723 + 158 + 2093 + 1200 = $7,174 Mil.
Total Current Assets was $0 Mil.
Total Assets was $327,193 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0 Mil.
Selling, General, & Admin. Expense(SGA) was $1,108 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $4,333 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(19047 / 5697) / (21163 / 7174)
=3.343339 / 2.949958
=1.1334

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(7174 / 7174) / (5697 / 5697)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 0) / 339537) / (1 - (0 + 0) / 327193)
=1 / 1
=1

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=5697 / 7174
=0.7941

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0 / (0 + 0)) / (0 / (0 + 0))
= /
=1

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(1107 / 5697) / (1108 / 7174)
=0.194313 / 0.154447
=1.2581

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((4570 + 0) / 339537) / ((4333 + 0) / 327193)
=0.01346 / 0.013243
=1.0164

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-373 - 59 - 5209) / 339537
=-0.016614

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Jackson Financial has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.67 mean?
Jackson Financial (JXN) has a Beneish M-Score of -2.67 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jackson Financial and its competitors. According to the industry distribution chart, Jackson Financial ranks #120 out of 397 companies in the Insurance industry, placing it in the top 30.2%.
Is Jackson Financial's Beneish M-Score too high?
Jackson Financial's current Beneish M-Score is -2.67. Based on the distribution chart, Jackson Financial ranks #120 out of 397 companies in the Insurance industry, which is above the industry midpoint. Overall, Jackson Financial has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Jackson Financial's Beneish M-Score compare to LNC and PRI?
According to the Insurance industry distribution chart, Jackson Financial ranks #120 out of 397 companies for Beneish M-Score. This puts Jackson Financial in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Insurance company?
A good Beneish M-Score depends on the Insurance industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jackson Financial and its competitors. Jackson Financial's current Beneish M-Score is -2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jackson Financial stock overvalued right now?
Based on GuruFocus' analysis, Jackson Financial (JXN) is currently considered Possible Value Trap. The stock's GF Value™ is $156.64, compared to a current price of $107.38 — trading 31.4% below its estimated fair value. The current Beneish M-Score is -2.67. Jackson Financial's overall GF Score™ is 75/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Jackson Financial (JXN), the current Beneish M-Score is -2.67 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Jackson Financial (JXN) Overvalued in 2026?

Based on GuruFocus' analysis, Jackson Financial stock appears to be undervalued. The current stock price of $107.38 is trading 31.4% below its estimated GF Value™ of $156.64. GuruFocus considers Jackson Financial to be Possible Value Trap.

Key valuation signals for JXN:

  • Beneish M-Score: -2.67
  • GF Value™: $156.64 vs. price of $107.38 (31.4% below fair value)
  • GF Score™: 75/100 with 5 warning signs

No single metric tells the full story. See the JXN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Jackson Financial Business Description

Other Exchanges 0JKF:UK8WF:Germany
Address 1 Corporate Way, Lansing, MI, USA, 48951
Jackson Financial Inc helps Americans grow and protect their retirement savings and income to enable them to pursue financial freedom for life. Its retail product offerings are comprised of annuities, designed to help retail investors save for and live in retirement. Its diverse suite of annuities includes a variable, fixed index, and fixed annuities. The company manages its business through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks and Corporate and Other segments. The company generates the majority of its revenue from the Retail Annuities segment, which offers a variety of retirement income and savings products of variable annuities, registered index-linked annuities ("RILA"), fixed index annuities, fixed annuities, and payout annuities.
75GF Score

Get the complete analysis for JXN

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$107.38
Price
$156.64
GF Value