LNC

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Lincoln National Corp.

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Key Metrics

Previous Close: $43.48
52-Week Range: $32.18 – $47.67
Market Cap: $8.04B
P/E (TTM): 3.54
EPS (TTM): 11.87
Dividend Yield: 4.14%

Advanced Metrics

Price/Book: 0.78
PEG Ratio: 1.01
Return on Equity: 22.59%
Return on Assets: 0.28%
Gross Margin: 27.08%
Operating Margin: 4.61%
Profit Margin: 12.17%
Current Ratio: 2.18
Debt/Equity: 0.64
Total Debt: $7.24B
Free Cash Flow: $2.07B
Revenue Growth: 12.60%
Earnings Growth: 76.80%
Enterprise Value: $-29.00B

LNC Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$18.93B	$11.71B	$17.99B	$18.34B
Selling, General & Admin	$2.41B	$2.54B	$2.74B	$2.65B
Pretax Income	$1.73B	-$1.15B	$4.02B	$1.34B
Income Tax	$367.00M	-$396.00M	$747.00M	$161.00M
Net Income	$1.36B	-$752.00M	$3.27B	$1.18B
Diluted EPS	7.78	-4.92	18.41	5.83
Diluted Shares	172.70M	170.70M	173.10M	186.70M

LNC Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$3.34B	$3.37B	$5.80B	$9.50B
Receivables	$19.95B	$29.84B	$28.75B	$28.01B
Total Assets	$334.33B	$372.41B	$390.83B	$417.20B
Long-Term Debt	$6.13B	$5.87B	$6.05B	$6.03B
Total Debt	$6.63B	$6.12B	$6.36B	$6.43B
Total Liabilities	$329.23B	$365.52B	$382.56B	$406.30B
Retained Earnings	$5.92B	$4.78B	$7.64B	$8.39B
Shareholders' Equity	$5.10B	$6.89B	$8.27B	$10.91B
Net Debt	$3.29B	$2.76B	$554.00M	—

LNC Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$3.61B	-$2.07B	-$2.01B	-$167.00M
Free Cash Flow	$3.61B	-$2.07B	-$2.01B	-$167.00M
Investing Cash Flow	-$11.65B	-$3.33B	$821.00M	-$4.01B
Financing Cash Flow	$8.77B	$5.43B	$3.62B	$7.88B
Dividends Paid	-$310.00M	-$387.00M	-$398.00M	-$416.00M
Share Repurchases	-$550.00M	$0.00	$0.00	—
Net Change in Cash	$731.00M	$22.00M	$2.44B	$3.70B

LNC Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$4.72B	$4.07B	$4.59B	$4.97B	$5.32B
Pretax Income	-$949.00M	$848.00M	$524.00M	$915.00M	-$246.00M
Income Tax	-$227.00M	$149.00M	$79.00M	$161.00M	-$74.00M
Net Income	-$722.00M	$699.00M	$445.00M	$754.00M	-$172.00M
Diluted EPS	-4.41	3.80	2.12	3.80	-1.10
Diluted Shares	174.70M	180.60M	195.00M	196.30M	196.50M

LNC Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$4.28B	$7.14B	$10.67B	$9.50B	$7.34B
Receivables	$28.58B	$28.44B	$28.66B	$28.01B	$27.69B
Total Assets	$382.90B	$399.06B	$415.27B	$417.20B	$406.16B
Long-Term Debt	$5.87B	$5.77B	$5.77B	$6.03B	$5.97B
Total Debt	$5.87B	$5.77B	$5.77B	$6.43B	$6.37B
Total Liabilities	$374.70B	$389.52B	$404.82B	$406.30B	$395.95B
Retained Earnings	$6.81B	$7.41B	$7.73B	$8.39B	$8.09B
Shareholders' Equity	$8.19B	$9.55B	$10.45B	$10.91B	$10.21B
Net Debt	$1.58B	—	—	—	—

LNC Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$272.00M	$1.01B	-$1.14B	$233.00M	$138.00M
Free Cash Flow	-$272.00M	$1.01B	-$1.14B	$233.00M	$138.00M
Investing Cash Flow	-$2.05B	-$266.00M	$2.21B	-$3.91B	-$3.45B
Financing Cash Flow	$801.00M	$2.11B	$2.45B	$2.51B	$1.16B
Dividends Paid	-$111.00M	-$88.00M	-$120.00M	-$97.00M	-$120.00M
Net Change in Cash	-$1.52B	$2.86B	$3.52B	-$1.17B	-$2.16B

Market Snapshot

About

Lincoln National Corp. is a diversified financial services company offering life insurance, annuities, retirement plan services, and group protection. The company markets its products through a network of financial advisors, brokers, and other distribution partners. Founded in 1905 and headquartered in Radnor, Pennsylvania, Lincoln National serves millions of customers across the United States. The company operates through segments including annuities, retirement plan services, life insurance, and group protection.