(LNC) Lincoln National - Overview
Sector: Financial Services | Industry: Insurance - Life | Exchange: NYSE (USA) | Market Cap: 6.748m USD | Total Return: 12.6% in 12m
Avg Turnover: 60.4M
Qual. Beats: 0
Rev. Trend: 72.6%
Qual. Beats: 1
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Lincoln National Corporation (LNC) is a diversified financial services organization operating through four primary segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. Founded in 1905, the company provides a comprehensive suite of wealth protection and retirement income products, including variable annuities, universal life insurance, and employer-sponsored disability and dental plans. Its distribution model relies on a broad network of third-party intermediaries, such as independent agents, financial advisors, and institutional consultants.
The company operates within the Life & Health Insurance industry, a sector characterized by high sensitivity to interest rate fluctuations and credit spreads, which directly impact investment income and the pricing of long-duration liabilities. LNC specifically targets the defined contribution marketplace, competing for assets in employer-sponsored retirement plans where scale in recordkeeping and administrative technology are key competitive advantages. For a deeper look into these financial metrics, ValueRay provides additional data points.
- Investment portfolio sensitivity to credit market volatility and interest rate fluctuations
- Reinsurance transactions and capital management strategies impact statutory solvency ratios
- Variable annuity and life insurance sales depend on equity market performance
- Group Protection margins fluctuate based on disability and mortality loss ratios
- Regulatory changes to fiduciary standards influence retirement plan service fees
| Net Income: 1.73b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.08 > 1.0 |
| NWC/Revenue: 36.78% < 20% (prev 206.4%; Δ -169.6% < -1%) |
| CFO/TA 0.00 > 3% & CFO 243.0m > Net Income 1.73b |
| Net Debt (-976.0m) to EBITDA (2.19b): -0.45 < 3 |
| Current Ratio: 18.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (196.3m) vs 12m ago 12.76% < -2% |
| Gross Margin: 34.44% > 18% (prev 0.28%; Δ 3.42k% > 0.5%) |
| Asset Turnover: 4.79% > 50% (prev 4.86%; Δ -0.07% > 0%) |
| Interest Coverage Ratio: 8.04 > 6 (EBITDA TTM 2.19b / Interest Expense TTM 254.0m) |
| A: 0.02 (Total Current Assets 7.34b - Total Current Liabilities 400.0m) / Total Assets 406b |
| B: 0.02 (Retained Earnings 8.09b / Total Assets 406b) |
| C: 0.01 (EBIT TTM 2.04b / Avg Total Assets 395b) |
| D: 0.02 (Book Value of Equity 9.23b / Total Liabilities 396b) |
| Altman-Z'' = 0.24 = B |
| DSRI: 0.99 (Receivables 28.9b/28.6b, Revenue 18.9b/18.6b) |
| GMI: 0.81 (GM 34.44% / 28.00%) |
| AQI: 1.15 (AQ_t 0.98 / AQ_t-1 0.86) |
| SGI: 1.02 (Revenue 18.9b / 18.6b) |
| TATA: 0.00 (NI 1.73b - CFO 243.0m) / TA 406b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of June 01, 2026, the stock is trading at USD 35.29 with a total of 1,331,875 shares traded.
Over the past week, the price has changed by -1.92%,
over one month by -6.66%,
over three months by +3.63% and
over the past year by +12.55%.
Lincoln National has received a consensus analysts rating of 3.08. Therefore, it is recommended to hold LNC.
- StrongBuy: 1
- Buy: 0
- Hold: 10
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 42.6 | 20.7% |
P/E Trailing = 3.8611
P/E Forward = 4.08
P/S = 0.3584
P/B = 0.7314
P/EG = 1.0102
Revenue TTM = 18.9b USD
EBIT TTM = 2.04b USD
EBITDA TTM = 2.19b USD
Long Term Debt = 5.97b USD (from longTermDebt, last quarter)
Short Term Debt = 400.0m USD (from shortTermDebt, last quarter)
Debt = 6.37b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -976.0m USD (calculated: Debt 6.37b - CCE 7.34b)
Enterprise Value = 5.77b USD (6.75b + Debt 6.37b - CCE 7.34b)
Interest Coverage Ratio = 8.04 (Ebit TTM 2.04b / Interest Expense TTM 254.0m)
EV/FCF = 3.34x (Enterprise Value 5.77b / FCF TTM 1.73b)
FCF Yield = 29.92% (FCF TTM 1.73b / Enterprise Value 5.77b)
FCF Margin = 9.15% (FCF TTM 1.73b / Revenue TTM 18.9b)
Net Margin = 9.14% (Net Income TTM 1.73b / Revenue TTM 18.9b)
Gross Margin = 34.44% ((Revenue TTM 18.9b - Cost of Revenue TTM 12.4b) / Revenue TTM)
Gross Margin QoQ = 62.14% (prev 60.85%)
Tobins Q-Ratio = 0.01 (Enterprise Value 5.77b / Total Assets 406b)
Interest Expense / Debt = 3.99% (Interest Expense 254.0m / Debt 6.37b)
Taxrate = 12.03% (161.0m / 1.34b)
NOPAT = 1.80b (EBIT 2.04b * (1 - 12.03%))
Current Ratio = 0.98 (Total Current Assets 7.34b / Total Current Liabilities 7.46b)
Debt / Equity = 0.62 (Debt 6.37b / totalStockholderEquity, last quarter 10.2b)
Debt / EBITDA = -0.45 (Net Debt -976.0m / EBITDA 2.19b)
Debt / FCF = -0.57 (Net Debt -976.0m / FCF TTM 1.73b)
Total Stockholder Equity = 10.3b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.44% (Net Income 1.73b / Total Assets 406b)
RoE = 16.79% (Net Income TTM 1.73b / Total Stockholder Equity 10.3b)
RoCE = 12.56% (EBIT 2.04b / Capital Employed (Equity 10.3b + L.T.Debt 5.97b))
RoIC = 0.44% (NOPAT 1.80b / Invested Capital 406b)
WACC = 6.60% (E(6.75b)/V(13.1b) * Re(9.52%) + D(6.37b)/V(13.1b) * Rd(3.99%) * (1-Tc(0.12)))
Discount Rate = 9.52% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.75 | Cagr: 6.70%
[DCF] Terminal Value 77.97% ; FCFF base≈1.56b ; Y1≈1.79b ; Y5≈2.64b
[DCF] Fair Price = 212.7 (EV 39.7b - Net Debt -976.0m = Equity 40.7b / Shares 191.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.08 | # QB: 0
Revenue Correlation: 72.55 | Revenue CAGR: 15.44% | SUE: 1.39 | # QB: 1
EPS current Quarter (2026-06-30): EPS=2.03 | Chg30d=-3.39% | Revisions=-17% | Analysts=13
EPS next Quarter (2026-09-30): EPS=2.02 | Chg30d=+1.01% | Revisions=+27% | Analysts=12
EPS current Year (2026-12-31): EPS=7.73 | Chg30d=+0.37% | Revisions=-14% | GrowthEPS=-6.1% | GrowthRev=+2.6%
EPS next Year (2027-12-31): EPS=8.33 | Chg30d=-1.31% | Revisions=-38% | GrowthEPS=+7.8% | GrowthRev=+3.1%
[Analyst] Revisions Ratio: -38%