LNC Stock Analysis: Lincoln National | NYSE
Insurance - Life | NYSE, USA | Market Cap: 7.660m USD | 12M Return: 6.2% | US5341871094 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 72.2M
EPS Trend: 87.7%
Qual. Beats: 1
Rev. Trend: 83.3%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 11.7 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 U.S.-based insurance and retirement services company operating through four core segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. Its Life Insurance segment offers a broad product lineup including term, universal life (UL), indexed universal life (IUL), variable universal life (VUL), linked-benefit UL and VUL, and critical illness and long-term care riders. The Annuities segment provides variable, fixed, and registered index-linked annuities, while the Group Protection segment delivers employer- and employee-paid benefits such as short- and long-term disability, statutory disability, paid family medical leave administration, term life, supplemental health, accident, critical illness, hospital indemnity, dental, and vision products. The Retirement Plan Services segment focuses on the defined contribution retirement plan marketplace, offering individual and group variable annuities, group fixed annuities, mutual fund-based programs, and a range of plan services such as recordkeeping, compliance testing, participant education, and trust and custodial services. Products are distributed through consultants, brokers, planners, agents, financial advisors, third-party administrators, and financial institutions. The company is classified within the Life & Health Insurance sub-industry and was founded in 1905, headquartered in Radnor, Pennsylvania.
As a Mid Cap stock in the Financials sector with a market capitalization of approximately $7.7 billion, LNC participates in a highly competitive U.S. life and retirement market where peer firms include MetLife, Prudential Financial, and Corebridge Financial. Its multi-segment structure allows revenue diversification across individual life insurance, wealth accumulation via annuities, employer-sponsored group benefits, and retirement plan administration, all areas subject to evolving regulatory oversight and interest rate sensitivity.
- Annuity sales growth driven by rising interest rates
- Life Insurance margins pressured by elevated claims and lapse rates
- Capital return to shareholders via buybacks supports valuation
| 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 (3.31b): -13.74 < 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: 9.78 > 6 (EBIT TTM 3.16b / 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 3.16b / Avg Total Assets 414b) |
| D: 0.03 (Book Value of Equity 11.3b / Total Liabilities 418b) |
| Altman-Z'' = 0.30 = 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 October 21, 2026, the stock is trading at USD 39.55 with a total of 1,434,964 shares traded. Over the past week, the price has changed by -2.66%, over one month by -4.06%, over three months by -3.90% and over the past year by +6.16%.
Current recommended Stop Loss: 37.70 (which is 4.7% or 1.7 ATR below the current price).
Lincoln National has received a consensus analysts rating of 3.46. Therefore, it is recommended to hold LNC.
- StrongBuy: 3
- Buy: 3
- Hold: 5
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 47.8 | 20.9% |
P/E Trailing = 3.4641
P/E Forward = 5.2329
P/S = 0.395
P/B = 0.7576
P/EG = 1.0102
Revenue TTM = 19.4b USD
EBIT TTM = 3.16b USD
EBITDA TTM = 3.31b 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 = 7.66b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 9.78 (Ebit TTM 3.16b / Interest Expense TTM 323.0m)
EV/FCF = -5.77x (Enterprise Value 7.66b / FCF TTM -1.33b)
FCF Yield = -17.34% (FCF TTM -1.33b / Enterprise Value 7.66b)
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 7.66b / Total Assets 430b)
Interest Expense / Debt = 4.71% (Interest Expense 323.0m / Debt 6.87b)
Taxrate = 16.82% (477.0m / 2.84b)
NOPAT = 2.63b (EBIT 3.16b * (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 = -13.74 (Net Debt -45.5b / EBITDA 3.31b)
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 = 18.37% (EBIT 3.16b / Capital Employed (Equity 10.7b + L.T.Debt 6.46b))
RoIC = 0.61% (NOPAT 2.63b / Invested Capital 429b)
WACC = 6.32% (E(7.66b)/V(14.5b) * Re(8.47%) + D(6.87b)/V(14.5b) * Rd(4.71%) * (1-Tc(0.17)))
Discount Rate = 8.47% (= 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=1.95 | Chg30d=-3.79% | Revisions=-44% | Analysts=13
EPS current Year (2026-12-31): EPS=7.90 | Chg30d=-1.19% | Revisions=-50% | GrowthEPS=-4.0% | GrowthRev=+3.7%
EPS next Year (2027-12-31): EPS=8.72 | Chg30d=+0.41% | Revisions=+62% | GrowthEPS=+10.4% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: -12% (up=6, down=8)