Lincoln National Corporation

Lincoln National Corporation

LNC
Lincoln National CorporationUS flagNew York Stock Exchange
41.36
USD
+0.53
- -
7.91BMarket Cap
Lincoln National Corporation
LNC
(New York Stock Exchange)

Recent

price

41.36

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
33.6
34.64
42.5
45.5
52.98
55.64
58.89
65.37
79.75
87.74
91.4
99.35
110.67
69.05
105.45
100.39
100.93
Revenue per Share
2.37
0.72
4.84
4.73
5.91
4.73
5.27
9.53
7.97
4.51
2.59
21.32
7.94
-4.92
18.66
5.94
8.71
Basic EPS, GAAP
5.55
4.15
4.68
3.04
9.85
9.2
5.62
3.61
9.44
-13.66
2.78
-1.22
21.1
-12.23
-11.76
-0.91
1.29
Free Cash Flow per Basic Share
0.14
0.2
0.34
0.49
0.66
0.84
1.05
1.2
1.4
1.54
1.62
1.8
1.81
2.28
2.33
2.28
2.26
Dividend per Share
38.9
33.92
41.14
45.22
49.28
52.38
57.05
64.62
67.73
71.27
71.59
80.78
61.2
55.32
72.21
76.51
72.93
Book Value per Share
31.57
35.25
46.79
42.52
52.49
46.52
53.92
73.15
61.05
91.07
108.78
107.09
17.38
28.08
35.98
48.04
43.05
Tangible Book Value per Share
310
307
271
263
257
244
226
218
206
197
192
177
171
170
171
183
188
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
7,161
8,131
6,665

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
6.99
5.18
-3.29
9.81
18.66
2025
-4.41
3.88
2.15
3.89
5.94
2026
-1.07
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.65
0.52
0.65
0.51
2.33
2025
0.65
0.5
0.63
0.51
2.28
2026
0.63
- -
- -
- -
- -
Business
Lincoln National Corporation (NYSE: LNC) is a holding company that operates multiple insurance and retirement businesses through subsidiaries, marketed under the Lincoln Financial Group name; it provides annuities including variable annuities, fixed annuities, indexed variable annuities, and the recently launched Lincoln Level Advantage 2 Income annuity with protected lifetime income options; life insurance products such as term insurance, indexed universal life (IUL), variable universal life (VUL), linked-benefit products, and riders for critical illness and long-term care; group protection offerings encompassing short- and long-term disability, statutory disability, paid family medical leave administration, group non-medical insurance, and voluntary benefits like accident insurance; and retirement plan services for employers including recordkeeping, plan design, compliance, and employee education. The company, founded in 1905 in Fort Wayne, Indiana, and headquartered in Radnor, Pennsylvania, divides operations into four segments—annuities, life insurance, group protection, and retirement plan services—and distributes products through consultants, brokers, financial advisors, third-party administrators, and institutions primarily in the United States, with some presence in the United Kingdom. Key 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. Recent developments include a long-term strategic partnership with Bain Capital, finalized in 2025, to launch private market funds focused on private credit and royalties in late 2025, aimed at expanding investment options and accelerating value creation; the introduction of Lincoln WealthBuilder SM ECV IUL in May 2025 to enhance its elite indexed universal life portfolio with cash value growth features; strong annuity sales growth of 33% in Q1 2025 and record group protection earnings in Q2 2025; and the 2024 sale of its wealth management business to Osaic, Inc. for $725 million to streamline operations.

Company News

APIChatGPT
  • First Trust Advisors LP Decreases Stock Position in Lincoln National Corporation $LNC

  • Earnings Preview: Lincoln National (LNC) Q2 Earnings Expected to Decline

  • Bank of New York Mellon Corp Has $63.15 Million Stock Holdings in Lincoln National Corporation $LNC

  • Lincoln National Update Before Earnings: A Look At The Talcott Deal

  • Bessemer Group Inc. Has $7.24 Million Stock Position in Lincoln National Corporation $LNC

  • Matinas BioPharma Announces Strategic Business Combination with GH Power to Create Publicly Traded, Advanced Clean Energy and Green Hydrogen Company; Signs Definitive Agreement to Sell LNC Platform Technology and Lead Product Candidate MAT2203 to Azurity Pharmaceuticals

  • The Bill Miller Playbook: How Lincoln Financial, Strategy, and Nabors Stack Up for Retirement Investors

  • Lincoln Financial to Report 2026 Second Quarter Results on July 30

  • Here's Why Investors Should Retain Lincoln National Stock for Now

  • Lincoln National vs. MetLife: Which Financial Stock Is a Better Buy in 2026?

  • Lincoln Financial Announces Executive Leadership Transitions

  • Lincoln Financial Announces Executive Leadership Transitions

  • Lincoln National Corporation's Board of Directors Declares Quarterly Cash Dividend

  • Lincoln National: Market Uncertainty Opens More Entry Opportunities And Upside Potential

  • Billionaire Bill Miller Beat the S&P 500 for 15 Consecutive Years. Here Are His Fund's Top 3 Ultra-High-Yield Dividend Stocks Now.

  • Lincoln National Corporation to Hold 2026 Annual Meeting of Shareholders on May 28, 2026

  • Lincoln National: Market Fears Create Opportunity

  • ProAssurance Q1 Earnings Meet Estimates on Declining Expenses

  • LNC Q1 Earnings Beat Estimates on Rising Investment Income

  • Stadion Money Management and Morningstar Retirement Team Up to Launch Stadion Managed Accounts at Lincoln Financial