Lincoln National Corporation

Lincoln National Corporation

LNC
Lincoln National CorporationUS flagNew York Stock Exchange
45.46
USD
+0.18
- -
8.70BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
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
101.52
Basic EPS, GAAP
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
11.84
Free Cash Flow per Basic Share
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
-6.93
Dividend per Share
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
2.27
Book Value per Share
51.17
61.35
55.84
63.97
79.43
69.71
100.11
118.02
117.13
24.32
34.82
42.75
52.2
54.14
Tangible Book Value per Share
42.52
52.49
46.52
53.92
73.15
61.05
91.07
108.78
107.09
17.56
28.07
36.03
46.18
48.16
Basic Weighted Avg Shares
263
257
244
226
218
206
197
192
177
171
170
171
183
192
Sales/Revenue/Turnover
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
19,458
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
4
4
4
4
4
9
26
37
50
65
44
96
148
- -
Net Income, GAAP
1,244
1,515
1,154
1,192
2,079
1,641
886
499
3,778
1,358
-752
3,275
1,177
2,359
Effective Tax Rate (%)
23.73
24.19
19.3
18.24
- -
12.94
3.59
- -
18.63
21.28
- -
18.57
12.03
16.82
Profit Margin (%)
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
12.12
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
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
6,465
Total Equity
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
11,349
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
7.25
8.53
6.88
7.59
- -
8.92
5.22
- -
14.09
8.08
- -
25.68
8.61
15.67
Return on Common Equity (%)
8.75
10.38
7.86
8.49
13.08
10.36
5.21
2.35
17.39
10.92
-16.64
48.28
12.63
23.98

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
400
400
400
LT Borrowings
6,031
5,969
6,465
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
986
986
986
Shares Outstanding
190
191
191
Market Capitalization
8,463
6,788
6,767

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
34,774
34,775
39,420
Accounts Receivable, Net
28,012
27,688
27,225
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
7,954
6,556
9,232
ST Debt
400
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
4,574
- -
- -
- -

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
6.85
- -
- -
- -

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
0.51
- -
- -
- -

Company Description

APIChatGPT
CEO
Ellen R. Gail Cooper
Full Time Employees
9,423
Sector
Financial Services
Industry
Insurance - Life
Address
150 North Radnor-Chester Road Radnor PA United States of America 19087
IPO Date
Mar 17, 1980
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
  • Lincoln National Restarts Buybacks After a Nearly Four-Year Pause

  • Lincoln Financial Announces Offers to Purchase Up To $500 Million Aggregate Liquidation Preference of Its Series C and Series D Depositary Shares

  • Lincoln Financial Announces Chief Financial Officer Transition

  • Lincoln National Corporation's Board of Directors Declares Quarterly Cash Dividend & Announces Plans to Resume Share Repurchases in the Third Quarter of 2026

  • Lincoln Financial Announces Chief Financial Officer Transition

  • Lincoln National Corporation's Board of Directors Declares Quarterly Cash Dividend & Announces Plans to Resume Share Repurchases in the Third Quarter of 2026

  • LNC Q2 Earnings Beat Estimates on Higher Investment Gains, Lower Costs

  • Lincoln National's Reinsurance Deal Unlocks Further Upside

  • Lincoln National Corporation's Board of Directors Declares Series C and Series D Preferred Stock Dividends

  • Lincoln National Q2 Earnings Call Highlights

  • Lincoln National (LNC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

  • Lincoln National Corporation (LNC) Q2 2026 Earnings Call Transcript

  • Lincoln National (LNC) Beats Q2 Earnings and Revenue Estimates

  • Lincoln Financial Announces Reinsurance Transaction with Talcott

  • Lincoln Financial Reports 2026 Second Quarter Results

  • Entropy Technologies LP Takes Position in Lincoln National Corporation $LNC

  • 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