(LNC) Lincoln National - Overview
Life Insurance, Annuities, Group Protection, Retirement Plans
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.57% |
| Yield on Cost 5y | 4.98% |
| Yield CAGR 5y | 1.74% |
| Payout Consistency | 65.1% |
| Payout Ratio | 22.8% |
| Risk 5d forecast | |
|---|---|
| Volatility | 36.0% |
| Relative Tail Risk | -5.67% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.68 |
| Alpha | 3.53 |
| Character TTM | |
|---|---|
| Beta | 1.434 |
| Beta Downside | 1.706 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.91% |
| CAGR/Max DD | 0.28 |
Description: LNC Lincoln National January 09, 2026
Lincoln National Corporation (NYSE:LNC) runs four core U.S. segments-Life Insurance, Annuities, Group Protection, and Retirement Plan Services-delivering a mix of individual and employer-focused products ranging from term and universal life policies to variable and fixed annuities, as well as disability, dental, vision, and retirement plan administration.
In 2023 the company reported a net income of roughly $1.2 billion and a combined ratio of 94.5 % in its life-insurance business, indicating underwriting profitability; its 2024 Q1 earnings per share (EPS) of $0.78 was up 6 % YoY, driven largely by higher investment income as the Federal Reserve’s rate hikes lifted the yield on its fixed-income portfolio.
Key economic drivers for LNC include the prevailing interest-rate environment (which boosts annuity margins but can pressure policy-holder reserves), demographic aging that expands demand for retirement and long-term-care solutions, and the broader U.S. savings gap that fuels employer-sponsored defined-contribution plan participation.
For a deeper, data-rich look at how these factors translate into valuation upside, a quick scan of ValueRay’s LNC analyst page can surface the most current forward-looking metrics and scenario analyses.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 2.11b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA 0.99 > 1.0 |
| NWC/Revenue: -35.43% < 20% (prev 286.4%; Δ -321.8% < -1%) |
| CFO/TA -0.00 > 3% & CFO -178.0m > Net Income 2.11b |
| Net Debt (-4.90b) to EBITDA (2.77b): -1.77 < 3 |
| Current Ratio: 0.62 > 1.5 & < 3 |
| Outstanding Shares: last quarter (194.3m) vs 12m ago 11.93% < -2% |
| Gross Margin: 26.03% > 18% (prev 0.16%; Δ 2588 % > 0.5%) |
| Asset Turnover: 4.55% > 50% (prev 3.43%; Δ 1.11% > 0%) |
| Interest Coverage Ratio: 9.89 > 6 (EBITDA TTM 2.77b / Interest Expense TTM 255.0m) |
Altman Z'' 0.02
| A: -0.02 (Total Current Assets 10.67b - Total Current Liabilities 17.21b) / Total Assets 415.27b |
| B: 0.02 (Retained Earnings 7.73b / Total Assets 415.27b) |
| C: 0.01 (EBIT TTM 2.52b / Avg Total Assets 406.06b) |
| D: 0.02 (Book Value of Equity 9.47b / Total Liabilities 404.82b) |
| Altman-Z'' Score: 0.02 = B |
Beneish M -3.27
| DSRI: 0.72 (Receivables 28.66b/29.23b, Revenue 18.46b/13.62b) |
| GMI: 0.61 (GM 26.03% / 15.85%) |
| AQI: 1.14 (AQ_t 0.97 / AQ_t-1 0.86) |
| SGI: 1.35 (Revenue 18.46b / 13.62b) |
| TATA: 0.01 (NI 2.11b - CFO -178.0m) / TA 415.27b) |
| Beneish M-Score: -3.27 (Cap -4..+1) = AA |
What is the price of LNC shares?
Over the past week, the price has changed by -0.34%, over one month by -9.01%, over three months by +3.03% and over the past year by +25.98%.
Is LNC a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 10
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the LNC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 46.7 | 14.1% |
| Analysts Target Price | 46.7 | 14.1% |
| ValueRay Target Price | 44 | 7.4% |
LNC Fundamental Data Overview January 27, 2026
P/E Forward = 4.7664
P/S = 0.4159
P/B = 0.8096
P/EG = 1.24
Revenue TTM = 18.46b USD
EBIT TTM = 2.52b USD
EBITDA TTM = 2.77b USD
Long Term Debt = 5.77b USD (from longTermDebt, last quarter)
Short Term Debt = 300.0m USD (from shortTermDebt, last fiscal year)
Debt = 5.77b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -4.90b USD (from netDebt column, last quarter)
Enterprise Value = 2.77b USD (7.66b + Debt 5.77b - CCE 10.67b)
Interest Coverage Ratio = 9.89 (Ebit TTM 2.52b / Interest Expense TTM 255.0m)
EV/FCF = -15.55x (Enterprise Value 2.77b / FCF TTM -178.0m)
FCF Yield = -6.43% (FCF TTM -178.0m / Enterprise Value 2.77b)
FCF Margin = -0.96% (FCF TTM -178.0m / Revenue TTM 18.46b)
Net Margin = 11.43% (Net Income TTM 2.11b / Revenue TTM 18.46b)
Gross Margin = 26.03% ((Revenue TTM 18.46b - Cost of Revenue TTM 13.65b) / Revenue TTM)
Gross Margin QoQ = 6.45% (prev -2.07%)
Tobins Q-Ratio = 0.01 (Enterprise Value 2.77b / Total Assets 415.27b)
Interest Expense / Debt = 1.37% (Interest Expense 79.0m / Debt 5.77b)
Taxrate = 15.08% (79.0m / 524.0m)
NOPAT = 2.14b (EBIT 2.52b * (1 - 15.08%))
Current Ratio = 0.62 (Total Current Assets 10.67b / Total Current Liabilities 17.21b)
Debt / Equity = 0.55 (Debt 5.77b / totalStockholderEquity, last quarter 10.45b)
Debt / EBITDA = -1.77 (Net Debt -4.90b / EBITDA 2.77b)
Debt / FCF = 27.51 (negative FCF - burning cash) (Net Debt -4.90b / FCF TTM -178.0m)
Total Stockholder Equity = 9.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.52% (Net Income 2.11b / Total Assets 415.27b)
RoE = 23.14% (Net Income TTM 2.11b / Total Stockholder Equity 9.12b)
RoCE = 16.95% (EBIT 2.52b / Capital Employed (Equity 9.12b + L.T.Debt 5.77b))
RoIC = 15.23% (NOPAT 2.14b / Invested Capital 14.07b)
WACC = 6.89% (E(7.66b)/V(13.44b) * Re(11.20%) + D(5.77b)/V(13.44b) * Rd(1.37%) * (1-Tc(0.15)))
Discount Rate = 11.20% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 7.02%
Fair Price DCF = unknown (Cash Flow -178.0m)
EPS Correlation: 29.33 | EPS CAGR: 7.42% | SUE: 0.25 | # QB: 0
Revenue Correlation: -3.87 | Revenue CAGR: 0.19% | SUE: -0.09 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.73 | Chg30d=-0.001 | Revisions Net=-3 | Analysts=9
EPS next Year (2026-12-31): EPS=8.03 | Chg30d=-0.031 | Revisions Net=-3 | Growth EPS=+1.7% | Growth Revenue=+5.4%