Lincoln National Corporation

Lincoln National Corporation

LNC-PD
Lincoln National CorporationUS flagNew York Stock Exchange
26.34
USD
+0.01
- -
5.04BMarket Cap
Lincoln National Corporation
LNC-PD
(New York Stock Exchange)

Recent

price

26.34

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Revenue per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic EPS, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Tangible Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic Weighted Avg Shares
10,415
10,641
11,535
11,963
13,591
13,566
13,330
14,257
16,418
17,255
17,579
17,605
18,929
11,711
17,989
18,342
18,949
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
4
4
4
4
4
4
4
4
9
26
37
50
65
44
96
148
- -
Depreciation Expense
902
221
1,313
1,244
1,515
1,154
1,192
2,079
1,641
886
499
3,778
1,358
-752
3,275
1,177
1,726
Net Income, GAAP
23.08
54.47
17.98
23.73
24.19
19.3
18.24
- -
12.94
3.59
- -
18.63
21.28
- -
18.57
12.03
15.43
Effective Tax Rate (%)
8.66
2.08
11.38
10.4
11.15
8.51
8.94
14.58
10
5.13
2.84
21.46
7.17
-6.42
18.21
6.42
9.11
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
5,399
5,391
5,439
5,320
5,023
5,323
5,123
4,673
5,573
5,657
6,407
6,096
6,132
5,871
6,055
6,031
5,969
LT Debt
12,806
13,101
14,973
13,452
15,740
13,617
14,478
17,322
14,350
19,689
22,699
20,754
5,102
6,893
8,269
10,906
10,212
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
6.4
2.09
9.34
8.38
9.64
7.63
8.1
- -
9.76
6.01
- -
19.32
8.1
- -
19.63
6.71
9.79
Return on Capital (%)
6.33
1.97
12.17
10.79
12.35
9.08
9.28
15.4
11.71
6.34
3.59
26.91
10.96
-8.4
29.34
8.26
12.98
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
400
400
LT Borrowings
5,772
6,031
5,969
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
986
986
986
Shares Outstanding
190
190
191
Market Capitalization
- -
- -
- -

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
33,907
34,774
34,775
Accounts Receivable, Net
28,665
28,012
27,688
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
11,153
7,954
6,556
ST Debt
- -
400
400
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.43%
0.59%
31.89%
Free Cash Flow
-244.9%
-431.23%
-91.68%
Net Income, GAAP
-19.5%
-32.38%
-64.06%
Sales/Revenue/Turnover
5.25%
5.02%
1.96%
Total Cash Common Dividend
4.92%
0.93%
5.86%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,113
4,593
4,198
5,084
17,989
2025
4,716
4,065
4,591
4,970
18,342
2026
5,323
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Lincoln National Corporation, operating as Lincoln Financial Group, provides a broad range of insurance, retirement, and investment management products and services through its subsidiaries in the United States and select international markets. The company organizes operations into four primary segments: annuities, including variable annuities, fixed annuities, and indexed variable annuities that offer tax-deferred investment growth and lifetime income opportunities; life insurance, encompassing term insurance, indexed universal life insurance, variable universal life insurance, linked-benefit products, and riders for critical illness and long-term care; group protection, featuring group non-medical insurance products such as short- and long-term disability, statutory disability, and paid family medical leave administration; and retirement plan services, which deliver employer-sponsored retirement plan products, recordkeeping, plan design, compliance, and employee education. Principal subsidiaries include Lincoln National Life Insurance Company, Lincoln Life & Annuity Company of New York, First Penn-Pacific Life Insurance Company, Lincoln Financial Distributors, Lincoln Financial Advisors, and Lincoln Financial Securities. Founded in 1905 in Fort Wayne, Indiana, with roots tracing to the Lincoln National Life Insurance Company, the firm maintains headquarters in Radnor, Pennsylvania, serves approximately 17 million customers, and manages over $320 billion in account balances. Recent strategic developments include a March 2025 agreement with Bain Capital for an $825 million investment acquiring a 9.9% equity stake and establishing a 10-year non-exclusive partnership for managing assets in private credit, structured products, mortgage loans, and private equity, expected to close in the second half of 2025 to support growth, spread-based earnings expansion, and leverage reduction; additionally, collaborations with Bain Capital and Partners Group to launch two new private markets funds by late 2025, featuring an evergreen private credit fund and a cross-sector private markets fund to enhance client investment options.