LNC Stock Analysis: Lincoln National | NYSE
Insurance - Life | NYSE, USA | Market Cap: 8.288m USD | 12M Return: 10.2% | US5341871094 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 78.4M
EPS Trend: 87.7%
Qual. Beats: 1
Rev. Trend: 83.3%
Qual. Beats: -1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Lincoln National Corporation (LNC) is a Philadelphia-area-based (Radnor, PA) insurance and retirement services company that has operated in the U.S. market since 1905. It runs four business segments: Life Insurance (term, universal, indexed universal, and variable universal life products, plus critical illness and long-term care riders), Annuities (variable, fixed, and registered index-linked), Group Protection (employer-sponsored disability, life, dental, vision, accident, and supplemental health products), and Retirement Plan Services (defined contribution plans, group annuities, and plan administration). Products reach customers through a broad intermediary channel that includes brokers, financial advisors, consultants, third-party administrators, and financial institutions. As a mid-cap member of the Life & Health Insurance sub-industry, LNC reflects the typical diversified insurer structure, combining individual life and annuity offerings with employer-driven group benefits and retirement plan administration.
- Alternative investment losses weigh on book value and capital position
- RILA annuities sales accelerate as rate-sensitive product demand rises
- Capital return to shareholders resumes after strategic divestitures and reinsurance deals
| Net Income: 2.36b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA -0.54 > 1.0 |
| NWC/Revenue: 50.44% < 20% (prev -460.1%; Δ 510.6% < -1%) |
| CFO/TA -0.00 > 3% & CFO -1.33b > Net Income 2.36b |
| Net Debt (-45.5b) to EBITDA (2.98b): -15.23 < 3 |
| Current Ratio: 25.41 > 1.5 & < 3 |
| Outstanding Shares: last quarter (196.4m) vs 12m ago 8.76% < -2% |
| Gross Margin: 47.16% > 18% (prev 25.67%; Δ 21.49% > 0.5%) |
| Asset Turnover: 4.67% > 50% (prev 4.53%; Δ 0.15% > 0%) |
| Interest Coverage Ratio: 8.78 > 6 (EBIT TTM 2.84b / Interest Expense TTM 323.0m) |
| A: 0.02 (Total Current Assets 10.2b - Total Current Liabilities 400.0m) / Total Assets 430b |
| B: 0.02 (Retained Earnings 9.32b / Total Assets 430b) |
| C: 0.01 (EBIT TTM 2.84b / Avg Total Assets 414b) |
| D: 0.03 (Book Value of Equity 11.3b / Total Liabilities 418b) |
| Altman-Z'' = 0.29 = B |
| DSRI: 0.90 (Receivables 28.4b/29.6b, Revenue 19.4b/18.1b) |
| GMI: 0.54 (GM 25.67% / 47.16%) |
| AQI: 1.18 (AQ_t 0.98 / AQ_t-1 0.82) |
| SGI: 1.07 (Revenue 19.4b / 18.1b) |
| TATA: 0.01 (NI 2.36b - CFO -1.33b) / TA 430b) |
| Beneish M = -3.36 (Cap -4..+1) = AA |
As of September 05, 2026, the stock is trading at USD 45.47 with a total of 1,666,946 shares traded. Over the past week, the price has changed by +5.04%, over one month by -3.26%, over three months by +35.12% and over the past year by +10.17%.
Current recommended Stop Loss: 43.70 (which is 3.9% or 1.4 ATR below the current price).
Lincoln National has received a consensus analysts rating of 3.38. Therefore, it is recommended to hold LNC.
- StrongBuy: 3
- Buy: 2
- Hold: 6
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 47.9 | 5.4% |
P/E Trailing = 3.6655
P/E Forward = 4.08
P/S = 0.4274
P/B = 0.8038
P/EG = 1.0102
Revenue TTM = 19.4b USD
EBIT TTM = 2.84b USD
EBITDA TTM = 2.98b USD
Long Term Debt = 6.46b USD (from longTermDebt, last quarter)
Short Term Debt = 400.0m USD (from shortTermDebt, last quarter)
Debt = 6.87b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -45.5b USD (calculated: Debt 6.87b - CCE 52.3b)
Enterprise Value = 8.29b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 8.78 (Ebit TTM 2.84b / Interest Expense TTM 323.0m)
EV/FCF = -6.24x (Enterprise Value 8.29b / FCF TTM -1.33b)
FCF Yield = -16.02% (FCF TTM -1.33b / Enterprise Value 8.29b)
FCF Margin = -6.86% (FCF TTM -1.33b / Revenue TTM 19.4b)
Net Margin = 12.18% (Net Income TTM 2.36b / Revenue TTM 19.4b)
Gross Margin = 47.16% ((Revenue TTM 19.4b - Cost of Revenue TTM 10.2b) / Revenue TTM)
Gross Margin QoQ = 55.97% (prev 62.14%)
Tobins Q-Ratio = 0.02 (Enterprise Value 8.29b / Total Assets 430b)
Interest Expense / Debt = 4.71% (Interest Expense 323.0m / Debt 6.87b)
Taxrate = 16.82% (477.0m / 2.84b)
NOPAT = 2.36b (EBIT 2.84b * (1 - 16.82%))
Current Ratio = 25.41 (Total Current Assets 10.2b / Total Current Liabilities 400.0m)
Debt / Equity = 0.60 (Debt 6.87b / totalStockholderEquity, last quarter 11.3b)
Debt / EBITDA = -15.23 (Net Debt -45.5b / EBITDA 2.98b)
Debt / FCF = 34.23 (negative FCF - burning cash) (Net Debt -45.5b / FCF TTM -1.33b)
Total Stockholder Equity = 10.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.57% (Net Income 2.36b / Total Assets 430b)
RoE = 21.99% (Net Income TTM 2.36b / Total Stockholder Equity 10.7b)
RoCE = 16.49% (EBIT 2.84b / Capital Employed (Equity 10.7b + L.T.Debt 6.46b))
RoIC = 0.55% (NOPAT 2.36b / Invested Capital 429b)
WACC = 6.76% (E(8.29b)/V(15.2b) * Re(9.12%) + D(6.87b)/V(15.2b) * Rd(4.71%) * (1-Tc(0.17)))
Discount Rate = 9.12% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.04 | Cagr: 6.33%
[DCF] Fair Price = unknown (Cash Flow -1.33b)
EPS Correlation: 87.72 | EPS CAGR: 31.50% | SUE: 1.45 | # QB: 1
Revenue Correlation: 83.26 | Revenue CAGR: 18.95% | SUE: -0.90 | # QB: -1
EPS current Quarter (2026-09-30): EPS=2.03 | Chg30d=+0.46% | Revisions=+15% | Analysts=10
EPS current Year (2026-12-31): EPS=7.99 | Chg30d=+4.36% | Revisions=+15% | GrowthEPS=-2.9% | GrowthRev=+4.0%
EPS next Year (2027-12-31): EPS=8.68 | Chg30d=+3.03% | Revisions=+67% | GrowthEPS=+8.6% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: +40% (up=23, down=9)