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Lincoln National Corporation LNC

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40.05 USD +0.89 (+2.27%)

At closeNov 6, 2026, 5:03 PM EST

40.37 +0.32 +0.81%

After hours · Nov 6, 5:03 PM ET

38.55 Day range 40.36
32.18 52-week range 47.67
YTD
-10.06%
1 year
-1.93%

Financial health

Altman Z-Score

0.01 Distress zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

6 / 9 Average

Nine pass/fail tests of profitability, leverage and efficiency.

Rating

B3 / 5 overall

  • DCF 1
  • Return on Equity 5
  • Return on Assets 2
  • Debt / Equity 3
  • P/E 4
  • P/B 1

Valuation

P/E 7.5×
FY 2016: 13.0×FY 2017: 8.2×FY 2018: 6.8×FY 2019: 13.4×FY 2020: 19.5×FY 2021: 3.4×FY 2022: 3.9×FY 2023: -5.5×FY 2024: 1.7×FY 2025: 7.5×
FY 2016 5y median 3.4× FY 2025
P/S 0.4×
FY 2016: 1.2×FY 2017: 1.2×FY 2018: 0.7×FY 2019: 0.7×FY 2020: 0.6×FY 2021: 0.7×FY 2022: 0.3×FY 2023: 0.4×FY 2024: 0.3×FY 2025: 0.4×
FY 2016 5y median 0.4× FY 2025
P/B 0.7×
FY 2016: 1.1×FY 2017: 1.0×FY 2018: 0.8×FY 2019: 0.6×FY 2020: 0.4×FY 2021: 0.6×FY 2022: 1.0×FY 2023: 0.7×FY 2024: 0.7×FY 2025: 0.7×
FY 2016 5y median 0.7× FY 2025
P/FCF -48.7×
FY 2016: 12.2×FY 2017: 21.7×FY 2018: 5.7×FY 2019: -4.4×FY 2020: 18.2×FY 2021: -58.9×FY 2022: 1.5×FY 2023: -2.2×FY 2024: -2.7×FY 2025: -48.7×
FY 2016 5y median -2.7× FY 2025
EV/EBITDA 3.2×
FY 2016: 10.1×FY 2017: 15.0×FY 2018: 6.7×FY 2019: 12.3×FY 2020: 19.7×FY 2021: 3.4×FY 2022: 4.1×FY 2023: -9.5×FY 2024: 1.3×FY 2025: 3.2×
FY 2016 5y median 3.2× FY 2025
EV/Sales 0.3×
FY 2016: 1.4×FY 2017: 1.5×FY 2018: 0.9×FY 2019: 0.9×FY 2020: 0.8×FY 2021: 1.0×FY 2022: 0.5×FY 2023: 0.6×FY 2024: 0.3×FY 2025: 0.3×
FY 2016 5y median 0.5× FY 2025
FCF Yield -2.1%
FY 2016: 8.2%FY 2017: 4.6%FY 2018: 17.5%FY 2019: -22.7%FY 2020: 5.5%FY 2021: -1.7%FY 2022: 68.7%FY 2023: -45.4%FY 2024: -37.0%FY 2025: -2.1%
FY 2016 5y median -2.1% FY 2025

Profitability

Gross Margin 57.3%
FY 2016: 28.6%FY 2017: 31.1%FY 2018: 28.6%FY 2019: 23.8%FY 2020: 19.7%FY 2021: 22.2%FY 2022: 12.9%FY 2023: 0.4%FY 2024: 25.5%FY 2025: 57.3%
FY 2016 5y median 22.2% FY 2025
Operating Margin 7.3%
FY 2016: 10.9%FY 2017: 7.9%FY 2018: 11.5%FY 2019: 5.3%FY 2020: 2.4%FY 2021: 26.4%FY 2022: 9.1%FY 2023: -9.8%FY 2024: 22.4%FY 2025: 7.3%
FY 2016 5y median 9.1% FY 2025
Net Margin 6.5%
FY 2016: 8.9%FY 2017: 14.6%FY 2018: 10.0%FY 2019: 5.1%FY 2020: 2.8%FY 2021: 21.5%FY 2022: 7.2%FY 2023: -6.4%FY 2024: 18.2%FY 2025: 6.5%
FY 2016 5y median 7.2% FY 2025
ROE 10.8%
FY 2016: 8.2%FY 2017: 12.0%FY 2018: 11.4%FY 2019: 4.5%FY 2020: 2.2%FY 2021: 18.6%FY 2022: 26.6%FY 2023: -10.9%FY 2024: 39.6%FY 2025: 10.8%
FY 2016 5y median 18.6% FY 2025
ROIC 0.5%
FY 2016: 6.0%FY 2017: 5.0%FY 2018: 8.1%FY 2019: 0.4%FY 2020: 169.2%FY 2021: 1.0%FY 2022: 0.6%FY 2023: -0.3%FY 2024: 0.9%FY 2025: 0.5%
FY 2016 5y median 0.6% FY 2025
ROA 0.3%
FY 2016: 0.5%FY 2017: 0.7%FY 2018: 0.6%FY 2019: 0.3%FY 2020: 0.1%FY 2021: 1.0%FY 2022: 0.4%FY 2023: -0.2%FY 2024: 0.8%FY 2025: 0.3%
FY 2016 5y median 0.4% FY 2025

Growth (YoY)

Revenue 1.2%
FY 2016: -1.7%FY 2017: 7.0%FY 2018: 15.2%FY 2019: 5.1%FY 2020: 1.9%FY 2021: 0.1%FY 2022: 7.5%FY 2023: -38.1%FY 2024: 53.6%FY 2025: 1.2%
FY 2016 FY 2025
Operating Income -66.7%
FY 2016: 2.0%FY 2017: -22.5%FY 2018: 66.8%FY 2019: -51.2%FY 2020: -54.0%FY 2021: 997.6%FY 2022: -62.8%FY 2023: -166.6%FY 2024: 450.3%FY 2025: -66.7%
FY 2016 FY 2025
EPS (diluted) -68.3%
FY 2016: 11.5%FY 2017: 83.3%FY 2018: -19.0%FY 2019: -41.4%FY 2020: -41.3%FY 2021: 189.1%FY 2022: 4.7%FY 2023: -163.2%FY 2024: 474.2%FY 2025: -68.3%
FY 2016 FY 2025
Free Cash Flow 91.7%
FY 2016: -43.3%FY 2017: -38.1%FY 2018: 146.6%FY 2019: -238.2%FY 2020: 119.9%FY 2021: -140.6%FY 2022: 1763.1%FY 2023: -157.5%FY 2024: 3.2%FY 2025: 91.7%
FY 2016 FY 2025

Financial Health

Current Ratio 0.5×
FY 2016: 0.5×FY 2017: 0.4×FY 2018: 0.4×FY 2019: 418×FY 2020: 0.0×FY 2021: 10.6×FY 2022: 1.0×FY 2023: 0.9×FY 2024: 3.2×FY 2025: 0.5×
FY 2016 5y median 1.0× FY 2025
Quick Ratio 0.5×
FY 2016: 0.5×FY 2017: 0.4×FY 2018: 0.4×FY 2019: 441×FY 2020: 0.0×FY 2021: 10.6×FY 2022: 1.0×FY 2023: 0.9×FY 2024: 3.2×FY 2025: 0.5×
FY 2016 5y median 1.0× FY 2025
Debt / Equity 0.6×
FY 2016: 0.4×FY 2017: 0.3×FY 2018: 0.4×FY 2019: 0.3×FY 2020: 0.3×FY 2021: 0.3×FY 2022: 1.3×FY 2023: 0.9×FY 2024: 0.8×FY 2025: 0.6×
FY 2016 5y median 0.8× FY 2025
Net Debt / EBITDA -2.0×
FY 2016: 1.5×FY 2017: 2.7×FY 2018: 1.6×FY 2019: 3.0×FY 2020: 6.7×FY 2021: 0.8×FY 2022: 1.6×FY 2023: -3.6×FY 2024: 0.1×FY 2025: -2.0×
FY 2016 5y median 0.1× FY 2025
Interest Coverage 5.9×
FY 2016: 4.4×FY 2017: 4.5×FY 2018: 6.3×FY 2019: 2.8×FY 2020: 1.5×FY 2021: 17.2×FY 2022: 6.1×FY 2023: -3.5×FY 2024: 12.0×FY 2025: 5.9×
FY 2016 5y median 6.1× FY 2025

Dividends

Dividend Yield 5.1%
FY 2016: 1.5%FY 2017: 1.5%FY 2018: 2.6%FY 2019: 2.6%FY 2020: 3.2%FY 2021: 2.5%FY 2022: 5.9%FY 2023: 8.5%FY 2024: 7.3%FY 2025: 5.1%
FY 2016 5y median 5.9% FY 2025
Payout Ratio 35.3%
FY 2016: 20.0%FY 2017: 12.6%FY 2018: 17.6%FY 2019: 34.2%FY 2020: 62.3%FY 2021: 8.4%FY 2022: 22.8%FY 2023: -51.5%FY 2024: 12.2%FY 2025: 35.3%
FY 2016 5y median 12.2% FY 2025

Annual · latest fiscal year ends 2025-12-31