insiderdelta
CoverageForm 410-K10-Q8-K13D13G13F

LNC · Lincoln National Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · LNC

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AnnualQuarterly

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$18.21B$18.44B$11.64B$18.78B$19.23B$17.44B
Cost of Revenue------
Gross Profit------
R&D------
SG&A$2.65B$2.74B$2.39B$2.24B$2.25B$2.07B
Total Operating Expenses------
D&A------
Operating Income$1.34B$4.02B($1.15B)($2.81B)$423.00M$423.00M
Interest Expense$227.00M$336.00M$331.00M$283.00M$270.00M$284.00M
Income Tax$161.00M$747.00M($396.00M)($584.00M)$233.00M($76.00M)
Net Income$1.18B$3.27B($752.00M)($2.23B)$1.41B$499.00M
EPS - Basic$5.94$18.66($4.92)($13.02)$7.50$2.58
EPS - Diluted$5.83$18.41($4.92)($13.10)$7.43$2.56

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$9.50B$5.80B$3.37B$3.34B$2.61B$1.71B
Accounts Receivable------
Inventory------
Accounts Payable------
Current Assets------
Total Assets$417.20B$390.83B$372.41B$335.44B$387.30B$365.95B
Current Liabilities------
Long-term Debt$6.26B$6.08B$5.83B$6.33B$6.33B$6.33B
Total Liabilities$406.30B$382.56B$365.52B$331.34B$367.03B$343.25B
Stockholders' Equity$10.91B$8.27B$6.89B$4.10B$20.27B$22.70B
Retained Earnings$8.39B$7.64B$4.78B$6.24B$9.10B$8.69B

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow($167.00M)($2.01B)($2.07B)$4.03B$151.00M$534.00M
Investing Cash Flow($4.01B)$821.00M($3.33B)($11.64B)($3.57B)($9.48B)
Financing Cash Flow$7.88B$3.62B$5.43B$8.34B$4.32B$8.09B
CapEx------
Free Cash Flow------

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin------
Operating margin7.3%21.8%-9.9%-15.0%2.2%2.4%
EBITDA margin------
Net margin6.5%17.8%-6.5%-11.9%7.3%2.9%
Free cash flow margin------
FCF / Net income------
R&D / Revenue------
SG&A / Revenue14.5%14.8%20.5%11.9%11.7%11.9%
Effective tax rate12.0%18.6%--14.2%-18.0%
Return on assets0.3%0.8%-0.2%-0.7%0.4%0.1%
Return on equity10.8%39.6%-10.9%-54.3%6.9%2.2%
Return on invested capital6.9%22.8%-7.1%-21.3%1.4%1.5%
Liquidity
Current ratio------
Quick ratio------
Cash ratio------
Leverage
Debt / Equity0.570.740.851.540.310.28
Debt / Assets0.020.020.020.020.020.02
Debt / EBITDA------
Interest coverage5.9x12.0x-3.5x-9.9x1.6x1.5x
Equity multiplier38.2547.2654.0381.7919.1116.12
Liabilities / Assets0.970.980.980.990.950.94
Efficiency
Asset turnover0.040.050.030.060.050.05
Inventory turnover------
Days sales outstanding------
Days inventory outstanding------
Days payable outstanding------
Cash conversion cycle------
Valuation
P / E7.6x1.7x--9.2x19.7x
P / B0.8x0.7x0.7x1.3x0.6x0.4x
P / S0.5x0.3x0.4x0.3x0.7x0.6x
EV / EBITDA------
Growth
Revenue growth (YoY)-1.2%58.4%-38.0%-2.3%10.3%1.0%
Revenue CAGR (3y)-1.0%-1.4%-12.6%2.9%5.4%6.9%
Revenue CAGR (5y)0.9%1.3%-6.6%5.7%7.6%5.1%
Gross profit growth (YoY)------
Operating income growth (YoY)-66.7%-59.2%-0.0%-54.0%
Net income growth (YoY)-64.1%-66.2%-181.6%-43.7%
EPS growth (YoY)-68.3%-62.4%-190.2%-41.6%
EPS CAGR (3y)-35.3%--0.1%-34.8%
EPS CAGR (5y)17.9%33.3%--8.1%-10.7%
FCF growth (YoY)------
FCF CAGR (5y)------
Book value growth (YoY)31.9%20.0%68.1%-79.8%-10.7%15.3%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$18.19B total
Group Protection Segment$6.10B · 33.5%
Life Segment$5.90B · 32.4%
Annuities Segment$4.86B · 26.7%
Retirement Plan Services Segment$1.33B · 7.3%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

1/9
Weak
  • ✓Net income positive
  • ✗Operating cash flow positive
  • ✗ROA improved YoY
  • ✗Cash flow > net income
  • ✗Long-term debt decreased
  • -Current ratio improved
  • ✗No share dilution
  • -Gross margin improved
  • ✗Asset turnover improved

Peer comparison

Same SIC group: Life Insurance

CompanyRevenue (last FY)Net marginROE
JXN$6.68B0.4%0.3%
MET$77.08B4.4%11.9%
PRU$60.77B5.9%11.0%
VOYA$8.19B8.0%13.2%
PRI$3.29B22.7%30.6%

Comparing LINCOLN NATIONAL CORP against the 5 most active filers in the same SIC group.

Dividends

$1.80/share trailing 12 months · 0.0% YoY

Ex-datePer share
Apr 10, 2026$0.4500
Jan 12, 2026$0.4500
Oct 10, 2025$0.4500
Jul 10, 2025$0.4500
Apr 10, 2025$0.4500
Jan 10, 2025$0.4500
Oct 10, 2024$0.4500
Jul 10, 2024$0.4500
Apr 9, 2024$0.4500
Jan 9, 2024$0.4500
Oct 6, 2023$0.4500
Jul 7, 2023$0.4500
Apr 6, 2023$0.4500
Jan 9, 2023$0.4500
Oct 6, 2022$0.4500
Jul 8, 2022$0.4500
Apr 8, 2022$0.4500
Jan 7, 2022$0.4500
Oct 7, 2021$0.4200
Jul 9, 2021$0.4200
Apr 9, 2021$0.4200
Jan 8, 2021$0.4200
Oct 8, 2020$0.4000
Jul 9, 2020$0.4000