LNC Stock Analysis: Lincoln National | NYSE
Insurance - Life | NYSE, USA | Market Cap: 8.008m USD | 12M Return: 27.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 70.1M
Qual. Beats: 0
Rev. Trend: 72.6%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 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: 1.73b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.30 > 1.0 |
| NWC/Revenue: -818.9% < 20% (prev 206.4%; Δ -1.03k% < -1%) |
| CFO/TA 0.00 > 3% & CFO 243.0m > Net Income 1.73b |
| Net Debt (-38.3b) to EBITDA (2.19b): -17.49 < 3 |
| Current Ratio: 0.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (196.3m) vs 12m ago 12.76% < -2% |
| Gross Margin: 34.44% > 18% (prev 28.00%; Δ 6.44% > 0.5%) |
| Asset Turnover: 4.79% > 50% (prev 4.86%; Δ -0.07% > 0%) |
| Interest Coverage Ratio: 8.04 > 6 (EBIT TTM 2.04b / Interest Expense TTM 254.0m) |
| A: -0.38 (Total Current Assets 7.34b - Total Current Liabilities 162b) / 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: 0.03 (Book Value of Equity 10.2b / Total Liabilities 396b) |
| Altman-Z'' = -2.37 = D |
| DSRI: 0.99 (Receivables 28.9b/28.6b, Revenue 18.9b/18.6b) |
| GMI: 0.81 (GM 28.00% / 34.44%) |
| 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 July 21, 2026, the stock is trading at USD 41.61 with a total of 1,002,600 shares traded. Over the past week, the price has changed by +1.86%, over one month by +11.70%, over three months by +13.36% and over the past year by +27.71%.
Current recommended Stop Loss: 39.60 (which is 4.8% or 1.9 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 | 44.3 | 6.3% |
P/E Trailing = 4.5821
P/E Forward = 4.08
P/S = 0.4253
P/B = 0.8489
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 = -38.3b USD (calculated: Debt 6.37b - CCE 44.7b)
Enterprise Value = 8.01b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 8.04 (Ebit TTM 2.04b / Interest Expense TTM 254.0m)
EV/FCF = 32.95x (Enterprise Value 8.01b / FCF TTM 243.0m)
FCF Yield = 3.03% (FCF TTM 243.0m / Enterprise Value 8.01b)
FCF Margin = 1.29% (FCF TTM 243.0m / 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 = 0.02 (Enterprise Value 8.01b / Total Assets 406b)
Interest Expense / Debt = 3.99% (Interest Expense 254.0m / Debt 6.37b)
Taxrate = 15.43% (315.0m / 2.04b)
NOPAT = 1.73b (EBIT 2.04b * (1 - 15.43%))
Current Ratio = 0.05 (Total Current Assets 7.34b / Total Current Liabilities 162b)
Debt / Equity = 0.62 (Debt 6.37b / totalStockholderEquity, last quarter 10.2b)
Debt / EBITDA = -17.49 (Net Debt -38.3b / EBITDA 2.19b)
Debt / FCF = -157.6 (out of range, set to none) (Net Debt -38.3b / FCF TTM 243.0m)
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 = 0.43% (NOPAT 1.73b / Invested Capital 405b)
WACC = 6.60% (E(8.01b)/V(14.4b) * Re(9.16%) + D(6.37b)/V(14.4b) * Rd(3.99%) * (1-Tc(0.15)))
Discount Rate = 9.16% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.27 | Cagr: 6.70%
[DCF] Terminal Value 75.44% ; FCFF base≈243.0m ; Y1≈244.0m ; Y5≈258.5m
[DCF] Fair Price = 221.3 (EV 4.02b - Net Debt -38.3b = Equity 42.3b / Shares 191.2m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.16 | # QB: 0
Revenue Correlation: 72.55 | Revenue CAGR: 15.44% | SUE: 1.39 | # QB: 1
EPS current Quarter (2026-06-30): EPS=1.97 | Chg30d=-2.85% | Revisions=-18% | Analysts=13
EPS next Quarter (2026-09-30): EPS=2.01 | Chg30d=-0.03% | Revisions=+30% | Analysts=11
EPS current Year (2026-12-31): EPS=7.67 | Chg30d=-0.70% | Revisions=-15% | GrowthEPS=-6.8% | GrowthRev=+3.1%
EPS next Year (2027-12-31): EPS=8.43 | Chg30d=+1.25% | Revisions=-42% | GrowthEPS=+9.8% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: -16% (up=14, down=20)