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LNC stock logo

LNC

Lincoln National Corporation

$35.39
0.01
 (0.03%)
Exchange:  NYSE
Market Cap:  6.767B
Shares Outstanding:  173.252M
Delayed data
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Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Financial Services
Industry:  Insurance – Life
   
CEO:  Ellen R. Gail Cooper
Full Time Employees:  9783
Address: 
150 North Radnor-Chester Road
Radnor
PA
19087
US
Website:  https://www.lfg.com
Lincoln National Corporation (LNC) is a U.S.-based financial services company primarily involved in the insurance and retirement sectors. Operating through various subsidiaries, its operations are structured across four key divisions: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities division provides a range of annuity products, including fixed, variable, and indexed variable options. Its Retirement Plan Services segment caters to employers, focusing predominantly on the defined contribution market. This unit delivers a suite of retirement solutions, encompassing individual and group variable and fixed annuities, alongside mutual fund-based programs. Furthermore, it offers comprehensive plan administration services such as recordkeeping, compliance verification, participant education, and trust and custodial support. The Life Insurance segment delivers various life coverage options, from term insurance to universal life products, specifically single and survivorship universal life, variable universal life, and indexed universal life policies. It also makes available critical illness and long-term care riders to enhance these plans. Finally, the Group Protection segment focuses on providing non-medical group insurance benefits and services to the employer sector. Its offerings include short-term and long-term disability, statutory disability, paid family medical leave administration, and absence management. Additionally, it offers group term life, dental, vision, accident, and critical illness coverage, all available through both employee-contributed and employer-funded schemes. Lincoln National distributes its financial products and services through an extensive network of consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediary partners. Established in 1905, Lincoln National Corporation maintains its headquarters in Radnor, Pennsylvania.

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Revenue Segmentation

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EPS

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Earnings Call

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Earnings transcript

Read the complete earnings call transcript.

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Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/05/07 — Q1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue11,711,00017,989,00018,212,000
Gross Profit50,0004,596,00010,443,000
EBITDA-773,0004,454,0001,565,000
Operating Income-1,148,0004,022,0001,338,000
Net Income-752,0003,275,0001,177,000

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets372,413,000390,831,000417,204,000
Total Liabilities365,520,000382,562,000406,298,000
Total Stockholders Equity6,893,0008,269,00010,906,000
Total Debt6,121,0006,355,0006,266,000
Cash and Cash Equivalents3,365,0005,801,0009,502,000

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Cash Flow Statement

Year202320242025
Operating Cash Flow-2,074,000-2,007,0000
Capital Expenditure000
Free Cash Flow-2,074,000-2,007,0000
Net Income-752,0003,275,0001,177,000
Net Change in Cash22,0002,436,000-5,801,000

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2029Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Low)21,396,743.917Full AccessFull AccessFull AccessFull Access
Estimated Revenue (High)21,933,572.939Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Avg)21,687,000Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Low)2,819,854.785Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (High)2,890,602.927Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Avg)2,858,107.334Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Low)1,855,671.628Full AccessFull AccessFull AccessFull Access
Estimated Net Income (High)1,916,443.227Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Avg)1,888,530.193Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Low)2,672,145.149Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (High)2,739,187.362Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Avg)2,708,393.953Full AccessFull AccessFull AccessFull Access
Estimated EPS (Avg)10.150Full AccessFull AccessFull AccessFull Access
Estimated EPS (High)10.300Full AccessFull AccessFull AccessFull Access
Estimated EPS (Low)9.970Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated Revenue)5Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated EPS)1Full AccessFull AccessFull AccessFull Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
20.727B  ?P/S
 (TTM)
: 
0.35
?Net Income
 (TTM)
: 
3.275B  ?P/E
 (TTM)
: 
3.85
?Enterprise Value
 (TTM)
: 
5.667B  ?EV/FCF
 (TTM)
: 
23.32
?Dividend Yield
 (TTM)
: 
0.05  ?Payout Ratio
 (TTM)
: 
0.25
?ROE
 (TTM)
: 
0.17  ?ROIC
 (TTM)
: 
0.2
?Net Debt
 (TTM)
: 
444M  ?Debt/Equity
 (TTM)
: 
0.62
?P/B
 (TTM)
: 
0.65  ?Current Ratio
 (TTM)
: 
18.36

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Full Access for high/low estimates and the interactive table.

Forward P/E 1YFull AccessFull AccessFull AccessFull Access
4.61Full AccessFull AccessFull AccessFull Access

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SWOT Analysis

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Intrinsic Value Calculator

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

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Common questions about LNC valuation

Is Lincoln National Corporation (LNC) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for Lincoln National Corporation (LNC) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is LNC a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether LNC trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is LNC’s P/E ratio?

You can see LNC’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for LNC?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is LNC a good long-term investment?

Whether LNC fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

LNC

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Daily snapshot

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See in Nexus

Relevant news

Lincoln National: Market Uncertainty Opens More Entry Opportunities And Upside Potential
Lincoln National Q1 Earnings Call Highlights
11-05-2026 06:09
Lincoln National Q1 Earnings Call Highlights
Lincoln Financial Reports 2026 First Quarter Results
07-05-2026 06:00
Lincoln Financial Reports 2026 First Quarter Results
Stay Ahead of the Game With Lincoln National (LNC) Q1 Earnings: Wall Street's Insights on Key Metrics
06-05-2026 10:15
Stay Ahead of the Game With Lincoln National (LNC) Q1 Earnings: Wall Street's Insights on Key Metrics
Lincoln Financial to Report 2026 First Quarter Results on May 7
02-04-2026 16:30
Lincoln Financial to Report 2026 First Quarter Results on May 7
Lincoln Financial Recognized for Leadership in the Advancement of Long-Term Care Planning
24-03-2026 09:00
Lincoln Financial Recognized for Leadership in the Advancement of Long-Term Care Planning

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