LNC Lincoln National Corporation Common Stock

NYSE · Insurance · View on SEC EDGAR ↗
$37.00
Price · Jul 2, 2026
Fundamentals as of May 7, 2026

LNC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$37.00
Market Cap
$8.46B
P/E (TTM)
7.6
EPS (TTM)
$5.83
Revenue (TTM)
$18.21B
Div Yield
3.8%
ROE
12.3%
Debt/Equity
0.0
52W Range
$32 – $47

LNC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $18.21B
5-point trend, +2.8%
2021-12-31 2025-12-31
EPS $5.83
5-point trend, -70.8%
2021-12-31 2025-12-31
Free Cash Flow
Margins 6.5%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
LNC
Peer Median
P/E (TTM)
5-point trend, +123.3%
7.6
15.0
P/S (TTM)
5-point trend, -31.9%
0.5
0.6
P/B
5-point trend, +30.1%
0.8
0.9

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
LNC
Peer Median
Net Profit Margin
5-point trend, -11.6%
6.5%
5.3%
ROA
5-point trend, -21.6%
0.29%
0.28%
ROE
5-point trend, +81.1%
12.3%
6.8%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
LNC
Peer Median
Debt / Equity
5-point trend, +148.0%
0.0

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
LNC
Peer Median
Revenue YoY
5-point trend, +2.8%
-1.2%
Revenue CAGR 3Y
5-point trend, +2.8%
-1.1%
Revenue CAGR 5Y
5-point trend, +2.8%
0.87%
EPS YoY
5-point trend, -70.8%
-68.3%
Net Income YoY
5-point trend, -68.8%
-64.1%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
LNC
Peer Median
EPS (Diluted)
5-point trend, -70.8%
$5.83

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
LNC
Peer Median
Payout Ratio
5-point trend, +21.6%
27.6%

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
3.8%
Payout Ratio
27.6%
5Y Div CAGR
Ex-dateAmount
April 10, 2026$0.4500
Jan. 12, 2026$0.4500
Oct. 10, 2025$0.4500
July 10, 2025$0.4500
April 10, 2025$0.4500
Jan. 10, 2025$0.4500
Oct. 10, 2024$0.4500
July 10, 2024$0.4500
April 9, 2024$0.4500
Jan. 9, 2024$0.4500
Oct. 6, 2023$0.4500
July 7, 2023$0.4500
April 6, 2023$0.4500
Jan. 9, 2023$0.4500
Oct. 6, 2022$0.4500
July 8, 2022$0.4500
April 8, 2022$0.4500
Jan. 7, 2022$0.4500
Oct. 7, 2021$0.4200
July 9, 2021$0.4200

LNC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

HOLD 19 analysts
  • Strong Buy 2 10.5%
  • Buy 6 31.6%
  • Hold 9 47.4%
  • Sell 1 5.3%
  • Strong Sell 1 5.3%

12-Month Price Target

12 analysts · 2026-07-04
Median target $41.00 +10.8%
Mean target $42.58 +15.1%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.20%
Next Report
Jul 29, 2026
Period EPS Actual EPS Est Surprise
March 31, 2026 $1.66 $1.59 0.07%
Dec. 31, 2025 $2.21 $1.92 0.29%
Sept. 30, 2025 $2.04 $1.88 0.16%
June 30, 2025 $2.36 $1.91 0.45%
March 31, 2025 $1.60 $1.55 0.05%

Peer Comparison Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
LNC $8.46B 7.6 -1.2% 6.5% 12.3%
PFG $19.18B 16.8 -3.1% 7.6% 10.3%
UNM
GL $12.90B 9.9 3.7% 19.4% 20.4%
OSCR -8.5 27.5% -3.8% -44.5%
PRI $8.22B 11.3 6.6% 22.8% 31.9%
CNO $4.01B 18.5 0.85% 5.1% 8.9%
FG $4.18B 16.4 -0.23% 4.6% 6.0%
GNW $3.54B 16.7 0.08% 3.0% 2.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 9
Annual Income Statement data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +34.4% $18.21B $18.44B $11.64B $18.81B $17.71B $17.44B $17.26B $16.42B $14.26B $13.33B $13.57B $13.55B
SG&A Expense 12-point trend, +61.4% $2.65B $2.74B $2.54B $2.41B $2.25B $2.07B $2.21B $1.95B $1.77B $1.69B $1.70B $1.64B
Pretax Income 12-point trend, -33.0% $1.34B $4.02B $-1.15B $1.73B $4.64B $423M $919M $1.89B $1.13B $1.46B $1.43B $2.00B
Income Tax 12-point trend, -66.7% $161M $747M $-396M $367M $865M $-76M $33M $244M $-949M $266M $276M $483M
Net Income 12-point trend, -22.3% $1.18B $3.27B $-752M $1.36B $3.78B $499M $886M $1.64B $2.08B $1.19B $1.15B $1.51B
EPS (Basic) 12-point trend, +2.2% $5.94 $18.66 $-4.92 $7.93 $20.17 $2.58 $4.41 $7.60 $9.36 $5.09 $4.60 $5.81
EPS (Diluted) 12-point trend, +2.8% $5.83 $18.41 $-4.92 $7.78 $19.96 $2.56 $4.38 $7.40 $9.22 $5.03 $4.51 $5.67
Shares (Basic) 12-point trend, -30.0% 182,674,725 170,597,104 169,562,903 171,034,695 187,359,884 193,610,225 200,608,737 215,936,448 222,128,687 234,181,717 250,629,243 260,877,533
Shares (Diluted) 12-point trend, -30.6% 186,062,087 173,080,425 170,738,655 172,700,155 189,637,612 194,465,180 202,105,134 219,552,106 226,220,980 236,830,287 254,938,112 267,963,995
Balance Sheet 12
Annual Balance Sheet data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 4-point trend, -58.5% · · · · · · · · $1.63B $2.72B $3.15B $3.92B
Goodwill 12-point trend, -49.7% $1.14B $1.14B $1.14B $1.14B $1.78B $1.78B $1.78B $1.78B $1.37B $2.27B $2.27B $2.27B
Total Assets 12-point trend, +64.7% $417.20B $390.83B $372.41B $334.33B $386.94B $365.95B $334.76B $298.15B $281.76B $261.63B $251.91B $253.38B
Short-term Debt 3-point trend, +60.0% $400M $300M $250M · · · · · · · · ·
Total Liabilities 12-point trend, +71.0% $406.30B $382.56B $365.52B $329.23B $366.19B $343.25B $315.07B $283.80B $264.44B $247.15B $238.29B $237.64B
Long-term Debt 12-point trend, +11.2% $5.87B $5.86B $5.70B $6.33B $6.33B $6.33B $6.13B $5.69B $5.12B $5.12B $5.32B $5.27B
Total Debt 7-point trend, -11.1% $400M $300M $250M $500M $300M · $300M · $450M · · ·
Retained Earnings 12-point trend, +39.3% $8.39B $7.64B $4.78B $5.92B $9.58B $8.69B $8.85B $8.55B $8.40B $7.04B $6.47B $6.02B
AOCI 12-point trend, -231.1% $-4.06B $-5.04B $-3.48B $-6.35B $6.44B $8.93B $5.67B $407M $3.23B $1.57B $845M $3.10B
Stockholders' Equity 12-point trend, -30.7% $10.91B $8.27B $6.89B $5.10B $19.91B $22.70B $19.69B $14.35B $17.32B $14.48B $13.62B $15.74B
Liabilities + Equity 12-point trend, +64.7% $417.20B $390.83B $372.41B $334.33B $386.94B $365.95B $334.76B $298.15B $281.76B $261.63B $251.91B $253.38B
Shares Outstanding 12-point trend, -25.9% 190,051,477 170,380,646 169,666,137 169,220,511 177,193,515 192,329,691 196,668,532 205,862,760 218,090,114 226,335,105 243,835,893 256,551,440
Cash Flow 11
Annual Cash Flow data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Operating Cash Flow 12-point trend, -106.6% $-167M $-2.01B $-2.07B $3.61B $-217M $534M $-2.69B $1.94B $788M $1.27B $2.24B $2.53B
Investing Cash Flow 12-point trend, -122.3% $-4.01B $821M $-3.33B $-11.65B $-3.58B $-9.48B $-5.50B $-5.82B $-4.19B $-3.67B $-4.22B $-1.80B
Debt Issued 10-point trend, +66.1% $495M $346M $0 $296M $0 $1.29B $744M $1.09B · $395M $298M ·
Net Debt Issued 10-point trend, +139.0% $195M $246M $-500M $-4M · $193M $436M $557M · $-205M $48M $-500M
Stock Issued 3-point trend, +825000000.00 $825M $0 $0 · · · · · · · · ·
Stock Repurchased 11-point trend, -100.0% · $0 $0 $550M $1.10B $275M $550M $900M $725M $879M $900M $650M
Net Stock Activity 12-point trend, +226.9% $825M $0 $0 $-550M $-1.10B $-275M $-550M $-900M $-725M $-879M $-900M $-650M
Dividends Paid 12-point trend, +91.2% $325M $307M $305M $310M $319M $311M $303M $289M $262M $238M $204M $170M
Financing Cash Flow 12-point trend, +845.0% $7.88B $3.62B $5.43B $8.77B $4.71B $8.09B $8.40B $4.59B $2.31B $1.97B $1.21B $834M
Net Change in Cash 9-point trend, +138.0% $3.70B $2.44B $22M $731M $904M · · · $-1.09B $-424M $-773M $1.55B
Taxes Paid 12-point trend, -66.9% $84M $0 $0 $-54M $1M $22M $260M $90M $170M $197M $215M $254M
Profitability 4
Annual Profitability data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Net Margin 12-point trend, -42.2% 6.5% 17.8% -6.5% -11.9% 7.3% 2.9% 5.1% 10.0% 14.6% 8.9% 8.5% 11.2%
Pretax Margin 12-point trend, -50.1% 7.3% 21.8% -9.9% -15.1% 8.5% 2.4% 5.3% 11.5% 7.9% 10.9% 10.5% 14.7%
ROA 12-point trend, -53.2% 0.29% 0.86% -0.21% -0.68% 0.37% 0.14% 0.28% 0.57% 0.77% 0.46% 0.46% 0.62%
ROE 12-point trend, +26.5% 12.3% 37.9% -14.9% -61.0% 6.8% 2.3% 4.5% 11.2% 12.4% 7.7% 8.2% 9.7%
Liquidity & Solvency 1
Annual Liquidity & Solvency data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Debt / Equity 7-point trend, +41.2% 0.0 0.0 0.0 0.1 0.0 · 0.0 · 0.0 · · ·
Efficiency 1
Annual Efficiency data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 12-point trend, -18.4% 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1
Per Share 6
Annual Per Share data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 12-point trend, -6.5% $57.38 $48.53 $40.63 $27.00 $114.41 $118.02 $100.11 $69.71 $79.43 $63.97 $55.84 $61.35
Revenue / Share 12-point trend, +93.5% $97.88 $106.55 $68.20 $108.66 $101.69 $89.68 $85.39 $74.81 $63.02 $56.28 $53.24 $50.58
Cash Flow / Share 12-point trend, -109.5% $-0.90 $-11.60 $-12.15 $23.37 $0.80 $2.75 $-13.29 $8.85 $3.48 $5.37 $8.80 $9.43
Cash / Share 4-point trend, -51.1% · · · · · · · · $7.46 $12.03 $12.90 $15.28
Dividend / Share 12-point trend, +164.7% $2 $2 $2 $2 $2 $2 $2 $1 $1 $1 $1 $1
EPS (TTM) 12-point trend, +2.8% $5.83 $18.41 $-4.92 $7.78 $19.96 $2.56 $4.38 $7.40 $9.22 $5.03 $4.51 $5.67
Growth Rates 10
Annual Growth Rates data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -179.1% -1.2% 58.4% -38.1% 6.2% 1.6% · · · · · · ·
Revenue CAGR 3Y 3-point trend, +91.5% -1.1% 1.4% -12.6% · · · · · · · · ·
Revenue CAGR 5Y 0.87% · · · · · · · · · · ·
EPS YoY 3-point trend, -110.1% -68.3% · · -61.0% 679.7% · · · · · · ·
EPS CAGR 3Y 2-point trend, -244.7% -9.2% -2.7% · · · · · · · · · ·
EPS CAGR 5Y 17.9% · · · · · · · · · · ·
Net Income YoY 3-point trend, -109.7% -64.1% · · -64.1% 657.1% · · · · · · ·
Net Income CAGR 3Y 2-point trend, -0.2% -4.7% -4.7% · · · · · · · · · ·
Net Income CAGR 5Y 18.7% · · · · · · · · · · ·
Dividend CAGR 5Y 0.88% · · · · · · · · · · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for LNC
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +34.4% $18.21B $18.44B $11.64B $18.81B $17.71B $17.44B $17.26B $16.42B $14.26B $13.33B $13.57B $13.55B
Net Income TTM 12-point trend, -22.3% $1.18B $3.27B $-752M $1.36B $3.78B $499M $886M $1.64B $2.08B $1.19B $1.15B $1.51B
Market Cap 12-point trend, -42.8% $8.46B $5.40B $4.58B $5.20B $12.10B $9.68B $11.61B $10.56B $16.76B $15.00B $12.26B $14.80B
Enterprise Value · · · · · · · · $15.59B · · ·
P/E 12-point trend, -24.9% 7.6 1.7 -5.5 3.9 3.4 19.7 13.5 6.9 8.3 13.2 11.1 10.2
P/S 12-point trend, -57.4% 0.5 0.3 0.4 0.3 0.7 0.6 0.7 0.6 1.2 1.1 0.9 1.1
P/B 12-point trend, -17.4% 0.8 0.7 0.7 1.1 0.6 0.4 0.6 0.7 1.0 1.0 0.9 0.9
P / Tangible Book 6-point trend, +87.4% 0.9 0.8 0.8 1.3 0.7 0.5 · · · · · ·
P / Cash Flow 12-point trend, -965.2% -50.7 -2.7 -2.2 1.3 80.1 18.1 -4.3 5.4 21.3 11.8 5.5 5.9
EV / Revenue · · · · · · · · 1.1 · · ·
Dividend Yield 12-point trend, +233.9% 3.8% 5.7% 6.7% 6.0% 2.6% 3.2% 2.6% 2.7% 1.6% 1.6% 1.7% 1.1%
Earnings Yield 12-point trend, +33.2% 13.1% 58.1% -18.2% 25.3% 29.2% 5.1% 7.4% 14.4% 12.0% 7.6% 9.0% 9.8%
Payout Ratio 12-point trend, +146.1% 27.6% 9.4% -40.6% -13.8% 22.7% 62.3% 34.2% 17.6% 12.6% 20.0% 17.7% 11.2%
Annual Payout 12-point trend, +91.2% $325M $307M $305M $310M $319M $311M $303M $289M $262M $238M $204M $170M

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312022-09-30
Revenue $18.21B$18.44B$11.64B$18.81B
Net Income $1.18B$3.27B$-752M$1.36B
Diluted EPS $5.83$18.41$-4.92$7.78
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312022-09-30
Debt / Equity 0.00.00.00.1

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