What is Lincoln National Corp.'s earnings per share (EPS)?

Lincoln National Corp. (LNC) reported diluted earnings per share of $5.83 for fiscal year 2025. This represents a -68.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Lincoln National Corp. (LNC) Financials

LNC

Trailing 12 months to June 30, 2026

Revenue $19.3B +7.9% YoY

Net Income $2.4B +107.9% YoY

EPS (Diluted) $11.70 +103.1% YoY

Operating Cash Flow -$1.3B -241.9% YoY

Market Cap $7.7B as of Oct 10, 2026

Price / Sales 0.4x on $19.3B revenue, trailing 12 months to June 30, 2026

Price / Earnings 3.3x on $2.4B net income, trailing 12 months to June 30, 2026

Price / Book 0.7x on $11.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LNC SEC filings page.

Lincoln National Corp. (LNC) reported $19.3B in revenue over the twelve months to Jun 30, 2026, up 7.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LNC FY2025 2026-10-03

The numbers show an asset-heavy balance sheet where reported earnings swing sharply while operating cash flow stays near break-even.

In FY2024, net income was $3.3B while operating cash flow was -$2.0B, showing that the large accounting profit did not arrive as operating cash that year. In FY2025, net income fell to $1.2B while operating cash flow improved to -$167M, so weaker earnings coincided with much less cash-flow drag rather than a simple profit-to-cash relationship.

By FY2025, liabilities were $406.3B against $10.9B of equity, so the business is financed predominantly by obligations rather than shareholder capital. The reported debt-to-equity ratio fell from 0.8x in FY2023 to 0.5x in FY2025, yet that narrower measure does not capture the broader liability load.

Net margin volatility is pronounced: it swung from -6.5% in FY2023 to 6.5% in FY2025, with FY2024's rebound not persisting. Because revenue was $18.4B in FY2024 and $18.2B in FY2025, the earnings movement points more to changes below the revenue line than to changing business volume.

Financial Health Signals

Financial Health Score 19/100

Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Lincoln National Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio

Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Lincoln National Corp. scores 41/100 on it among other insurers.

Premium Growth

Not available for Lincoln National Corp., and counted as zero in the overall score.

Capital

Lincoln National Corp. funded 2.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $10.9B of equity against $417.2B of assets. Capital ranks insurers on that cushion, and Lincoln National Corp. scores 6/100 among other insurers.

Investment Yield

Not available for Lincoln National Corp., and counted as zero in the overall score.

Combined Ratio

Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Lincoln National Corp. scores 24/100 on it among other insurers.

Stability

Lincoln National Corp. reported net income of $1.2B in fiscal year 2025, against $3.3B in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Lincoln National Corp. scores 40/100 among other insurers.

Piotroski F-Score Partial

2/7

Lincoln National Corp. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

$0.14used

For every $1 of reported earnings, Lincoln National Corp. used $0.14 of operating cash (-$167.0M OCF vs $1.2B net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.5B

YoY+12.3%

QoQ-14.4%

5Y CAGR-1.4%

10Y CAGR+3.2%

Lincoln National Corp. generated $4.5B in revenue in Q2 2026. This represents an increase of 12.3% from the same quarter a year earlier. Against the prior quarter it is down 14.4%.

Net Income

$1.3B

YoY+90.6%

QoQ+874.4%

5Y CAGR+15.6%

10Y CAGR+15.1%

Lincoln National Corp. reported $1.3B in net income in Q2 2026. This represents an increase of 90.6% from the same quarter a year earlier. Against the prior quarter it is up 874.4%.

EPS (Diluted)

$6.72

YoY+76.8%

QoQ+710.9%

5Y CAGR+14.9%

10Y CAGR+17.4%

Lincoln National Corp. earned $6.72 per diluted share (EPS) in Q2 2026. This represents an increase of 76.8% from the same quarter a year earlier. Against the prior quarter it is up 710.9%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$10.2B

YoY+42.3%

QoQ+38.4%

5Y CAGR+33.6%

10Y CAGR+9.5%

Lincoln National Corp. held $10.2B in cash against $6.5B in long-term debt as of Q2 2026.

Dividends Per Share

$0.45

YoY0.0%

QoQ0.0%

5Y CAGR+1.4%

10Y CAGR+6.1%

Lincoln National Corp. paid $0.45 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

191M

YoY+1.0%

QoQ+0.1%

5Y CAGR+0.4%

10Y CAGR-1.9%

Lincoln National Corp. had 191M shares outstanding in Q2 2026. This represents an increase of 1.0% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

29.3%

YoY+12.0pp

QoQ+32.6pp

5Y change+16.1pp

10Y change+19.5pp

Lincoln National Corp.'s net profit margin was 29.3% in Q2 2026, showing the share of revenue converted to profit. This is up 12.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 32.6 percentage points.

Return on Equity

11.7%

YoY+4.4pp

QoQ+13.4pp

5Y change+8.8pp

10Y change+9.7pp

Lincoln National Corp.'s ROE was 11.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

LNC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LNC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$19.3B	$18.2B-1.2%	$18.4B+58.4%	$11.6B-38.1%	$18.8B+6.2%	$17.7B+1.6%	$17.4B+1.0%	$17.3B+5.1%	$16.4B+15.2%	$14.3B+7.0%	$13.3B-1.8%	$13.6B+0.1%	$13.6B+13.2%	$12.0B+3.8%	$11.5B+8.4%	$10.6B
SG&A Expenses	N/A	$2.6B-3.3%	$2.7B+7.7%	$2.5B+5.7%	$2.4B+6.9%	$2.3B+8.7%	$2.1B-6.2%	$2.2B+13.2%	$2.0B+10.6%	$1.8B+4.7%	$1.7B-0.8%	$1.7B+3.7%	$1.6B+0.6%	$1.6B+4.2%	$1.6B+9.9%	$1.4B
Interest Expense	N/A	$227.0M-32.4%	$336.0M+1.5%	$331.0M+17.0%	$283.0M+4.8%	$270.0M-4.9%	$284.0M-12.9%	$326.0M+9.8%	$297.0M+17.4%	$253.0M-23.6%	$331.0M+21.7%	$272.0M+1.9%	$267.0M+0.8%	$265.0M-2.9%	$273.0M-7.1%	$294.0M
Income Tax	$476.0M	$161.0M-78.4%	$747.0M+288.6%	-$396.0M-207.9%	$367.0M-57.6%	$865.0M+1238.2%	-$76.0M-330.3%	$33.0M-86.5%	$244.0M+125.7%	-$949.0M-456.8%	$266.0M-3.6%	$276.0M-42.9%	$483.0M+24.8%	$387.0M+37.2%	$282.0M+2.9%	$274.0M
Net Income	$2.4B	$1.2B-64.1%	$3.3B+535.5%	-$752.0M-155.4%	$1.4B-64.1%	$3.8B+657.1%	$499.0M-43.7%	$886.0M-46.0%	$1.6B-21.1%	$2.1B+74.4%	$1.2B+3.3%	$1.2B-23.8%	$1.5B+21.8%	$1.2B-5.3%	$1.3B+494.1%	$221.0M
EPS (Basic)	N/A	$5.94-68.2%	$18.66+479.3%	-$4.92-162.0%	$7.93-60.7%	$20.17+681.8%	$2.58-41.5%	$4.41-42.0%	$7.60-18.8%	$9.36+83.9%	$5.09+10.7%	$4.60-20.8%	$5.81+24.1%	$4.680.0%	$4.68+550.0%	$0.72
EPS (Diluted)	$11.70	$5.83-68.3%	$18.41+474.2%	-$4.92-163.2%	$7.78-61.0%	$19.96+679.7%	$2.56-41.6%	$4.38-40.8%	$7.40-19.7%	$9.22+83.3%	$5.03+11.5%	$4.51-20.5%	$5.67+25.4%	$4.52-0.9%	$4.56+560.9%	$0.69
Diluted Shares (Avg)	N/A	186M+7.5%	173M+1.4%	171M-1.1%	173M-8.9%	190M-2.5%	194M-3.8%	202M-7.9%	220M-2.9%	226M-4.5%	237M-7.1%	255M-4.9%	268M-2.6%	275M-4.3%	288M-8.7%	315M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$4.5B+12.3%	$5.3B+13.1%	$4.9B-2.8%	$4.6B+10.8%	$4.0B-21.5%	$4.7B+14.0%	$5.1B+624.2%	$4.1B-2.2%
Interest Expense	N/A	N/A	N/A	N/A	N/A	$80.0M-1.2%	$83.0M+3.8%	$86.0M+2.4%
Income Tax	$311.0M+108.7%	-$74.0M+67.4%	$160.0M-61.4%	$79.0M+145.1%	$149.0M-25.9%	-$227.0M-174.2%	$415.0M+209.5%	-$175.0M-196.7%
Net Income	$1.3B+90.6%	-$172.0M+76.2%	$755.0M-55.2%	$445.0M+184.3%	$699.0M-21.9%	-$722.0M-159.1%	$1.7B+236.5%	-$528.0M-161.9%
EPS (Basic)	$6.85+76.5%	-$1.08+75.5%	$4.04-58.8%	$2.15+165.3%	$3.88-25.1%	-$4.41-163.2%	$9.81+233.5%	-$3.29-168.3%
EPS (Diluted)	$6.72+76.8%	-$1.10+75.1%	$3.96-59.0%	$2.12+164.4%	$3.80-25.6%	-$4.41-163.6%	$9.66+232.0%	-$3.29-168.7%
Diluted Shares (Avg)	196M+8.8%	196M+12.9%	N/A	194M+12.4%	181M+4.5%	174M+1.3%	N/A	173M+1.1%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.

LNC Balance Sheet

LNC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$417.2B+6.7%	$390.8B+4.9%	$372.4B+11.4%	$334.3B-15.3%	$394.8B+7.9%	$365.9B+9.3%	$334.8B+12.3%	$298.1B+5.8%	$281.8B+7.7%	$261.6B+3.9%	$251.9B-0.6%	$253.4B+6.9%	$236.9B+8.3%	$218.9B+8.6%	$201.5B
Cash & Equivalents	$9.5B+63.8%	$5.8B+72.4%	$3.4B+0.7%	$3.3B+28.0%	$2.6B+52.9%	$1.7B-33.4%	$2.6B+9.3%	$2.3B+44.0%	$1.6B-40.2%	$2.7B-13.5%	$3.1B-19.7%	$3.9B+65.8%	$2.4B-44.1%	$4.2B-6.2%	$4.5B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B-35.7%	$1.8B0.0%	$1.8B0.0%	$1.8B-0.2%	$1.8B+30.3%	$1.4B-39.8%	$2.3B0.0%	$2.3B0.0%	$2.3B0.0%	$2.3B-41.2%	$3.9B0.0%	$3.9B
Total Liabilities	$406.3B+6.2%	$382.6B+4.7%	$365.5B+11.0%	$329.2B-12.2%	$374.8B+9.2%	$343.2B+8.9%	$315.1B+11.0%	$283.8B+7.3%	$264.4B+7.0%	$247.1B+3.7%	$238.3B+0.3%	$237.6B+6.3%	$223.5B+9.6%	$203.9B+8.2%	$188.4B
Long-Term Debt	$5.9B+0.2%	$5.9B+2.8%	$5.7B-10.0%	$6.3B-4.4%	$6.6B-0.9%	$6.7B+9.1%	$6.1B+7.8%	$5.7B+11.0%	$5.1B0.0%	$5.1B-3.8%	$5.3B+0.9%	$5.3B-8.7%	$5.8B+7.4%	$5.4B-0.3%	$5.4B
Total Equity	$10.9B+31.9%	$8.3B+20.0%	$6.9B+35.1%	$5.1B-74.4%	$19.9B-12.3%	$22.7B+15.3%	$19.7B+37.2%	$14.3B-17.2%	$17.3B+19.6%	$14.5B+6.3%	$13.6B-13.5%	$15.7B+17.0%	$13.5B-10.2%	$15.0B+14.3%	$13.1B
Retained Earnings	$8.4B+9.7%	$7.6B+60.0%	$4.8B-19.3%	$5.9B+14.0%	$5.2B-40.2%	$8.7B-1.9%	$8.9B+3.5%	$8.6B+1.8%	$8.4B+19.3%	$7.0B+8.8%	$6.5B+7.5%	$6.0B+20.1%	$5.0B+24.0%	$4.0B+42.8%	$2.8B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$429.8B+7.7%	$406.2B+6.1%	$417.2B+6.7%	$415.3B+4.6%	$399.1B+3.8%	$382.9B-0.1%	$390.8B+4.9%	$396.8B+17.3%
Cash & Equivalents	$10.2B+42.3%	$7.3B+71.5%	$9.5B+63.8%	$10.7B+77.4%	$7.1B+30.5%	$4.3B+3.9%	$5.8B+72.4%	$6.0B+137.8%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%
Total Liabilities	$418.4B+7.4%	$395.9B+5.7%	$406.3B+6.2%	$404.8B+4.4%	$389.5B+3.4%	$374.7B-0.3%	$382.6B+4.7%	$387.8B+15.7%
Long-Term Debt	$6.5B+12.1%	$6.0B+1.7%	$5.9B+0.2%	$5.8B-2.1%	$5.8B+0.9%	$5.9B+2.5%	$5.9B+2.8%	$5.9B
Total Equity	$11.3B+18.9%	$10.2B+24.6%	$10.9B+31.9%	$10.5B+16.0%	$9.5B+20.1%	$8.2B+8.6%	$8.3B+20.0%	$9.0B+181.7%
Retained Earnings	$9.3B+25.8%	$8.1B+18.8%	$8.4B+9.7%	$7.7B+27.8%	$7.4B+10.7%	$6.8B+15.7%	$7.6B+60.0%	$6.0B-0.9%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

LNC Cash Flow Statement

LNC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$1.3B	-$167.0M+91.7%	-$2.0B+3.2%	-$2.1B-157.5%	$3.6B+1763.1%	-$217.0M-140.6%	$534.0M+119.9%	-$2.7B-238.2%	$1.9B+146.6%	$788.0M-38.1%	$1.3B-43.3%	$2.2B-11.2%	$2.5B+216.1%	$799.0M-37.0%	$1.3B-0.5%	$1.3B
Stock-Based Compensation	N/A	$78.0M+21.9%	$64.0M+4.9%	$61.0M+19.6%	$51.0M-16.4%	$61.0M+19.6%	$51.0M-17.7%	$62.0M+19.2%	$52.0M+4.0%	$50.0M+8.7%	$46.0M+12.2%	$41.0M+7.9%	$38.0M-5.0%	$40.0M+29.0%	$31.0M+40.9%	$22.0M
Investing Cash Flow	-$2.6B	-$4.0B-588.8%	$821.0M+124.6%	-$3.3B+71.4%	-$11.6B-224.9%	-$3.6B+62.2%	-$9.5B-72.4%	-$5.5B+5.4%	-$5.8B-38.8%	-$4.2B-14.2%	-$3.7B+13.2%	-$4.2B-134.0%	-$1.8B+61.7%	-$4.7B-22.1%	-$3.9B-81.5%	-$2.1B
Financing Cash Flow	$6.9B	$7.9B+117.6%	$3.6B-33.3%	$5.4B-38.1%	$8.8B+86.4%	$4.7B-41.9%	$8.1B-3.7%	$8.4B+83.1%	$4.6B+99.0%	$2.3B+17.1%	$2.0B+63.2%	$1.2B+44.7%	$834.0M-59.2%	$2.0B-11.4%	$2.3B-11.8%	$2.6B
Dividends Paid	$344.0M	$325.0M+5.9%	$307.0M+0.7%	$305.0M-1.6%	$310.0M-2.8%	$319.0M+2.6%	$311.0M+2.6%	$303.0M+4.8%	$289.0M+10.3%	$262.0M+10.1%	$238.0M+16.7%	$204.0M+20.0%	$170.0M+32.8%	$128.0M+40.7%	$91.0M+49.2%	$61.0M
Share Buybacks	N/A	N/A	$0	$0-100.0%	$550.0M-50.2%	$1.1B+301.8%	$275.0M-50.0%	$550.0M-38.9%	$900.0M+24.1%	$725.0M-17.5%	$879.0M-2.3%	$900.0M+38.5%	$650.0M+44.4%	$450.0M-8.5%	$492.0M-14.4%	$575.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$558.0M-155.1%	$138.0M+150.7%	$233.0M+5.0%	-$1.1B-4125.9%	$1.0B+217.9%	-$272.0M+79.7%	$222.0M+111.9%	-$27.0M-158.7%
Investing Cash Flow	$2.6B+1069.2%	-$3.5B-68.8%	-$3.9B-445.7%	$2.2B+415.1%	-$266.0M-144.3%	-$2.0B-224.8%	-$717.0M-0.4%	-$702.0M+51.2%
Financing Cash Flow	$800.0M-62.1%	$1.2B+44.7%	$2.5B+788.3%	$2.5B+93.7%	$2.1B+31.1%	$801.0M+73.8%	$283.0M-91.7%	$1.3B+728.1%
Dividends Paid	$86.0M+13.2%	$86.0M+11.7%	$86.0M+11.7%	$86.0M+11.7%	$76.0M0.0%	$77.0M0.0%	$77.0M+1.3%	$77.0M+1.3%

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.

LNC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LNC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	6.5%-11.3pp	17.8%+24.2pp	-6.5%-13.7pp	7.2%-14.1pp	21.3%+18.5pp	2.9%-2.3pp	5.1%-4.9pp	10.0%-4.6pp	14.6%+5.6pp	8.9%+0.4pp	8.5%-2.7pp	11.2%+0.8pp	10.4%-1.0pp	11.4%+9.3pp	2.1%
Return on Equity	10.8%-28.8pp	39.6%+50.5pp	-10.9%-37.5pp	26.6%+7.6pp	19.0%+16.8pp	2.2%-2.3pp	4.5%-6.9pp	11.4%-0.6pp	12.0%+3.8pp	8.2%-0.2pp	8.5%-1.2pp	9.6%+0.4pp	9.3%+0.5pp	8.8%+7.1pp	1.7%
Return on Assets	0.3%-0.6pp	0.8%+1.0pp	-0.2%-0.6pp	0.4%-0.5pp	1.0%+0.8pp	0.1%-0.1pp	0.3%-0.3pp	0.5%-0.2pp	0.7%+0.3pp	0.5%0.0pp	0.5%-0.1pp	0.6%+0.1pp	0.5%-0.1pp	0.6%+0.5pp	0.1%
Debt-to-Equity	0.54-0.2x	0.71-0.1x	0.83-0.4x	1.24+0.9x	0.330.0x	0.290.0x	0.31-0.1x	0.40+0.1x	0.30-0.1x	0.350.0x	0.39+0.1x	0.34-0.1x	0.43+0.1x	0.36-0.1x	0.41
Asset Turnover	0.040.0x	0.050.0x	0.030.0x	0.060.0x	0.040.0x	0.050.0x	0.050.0x	0.060.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.05

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	29.3%+12.0pp	-3.2%+12.2pp	15.3%-18.0pp	9.8%+22.6pp	17.3%-0.1pp	-15.4%-45.1pp	33.3%	-12.8%-33.1pp
Return on Equity	11.7%+4.4pp	-1.7%+7.1pp	6.9%-13.5pp	4.3%+10.1pp	7.3%-3.9pp	-8.8%-25.0pp	20.4%+38.3pp	-5.9%-32.5pp
Return on Assets	0.3%+0.1pp	0.0%+0.1pp	0.2%-0.3pp	0.1%+0.2pp	0.2%-0.1pp	-0.2%-0.5pp	0.4%+0.8pp	-0.1%-0.4pp
Debt-to-Equity	0.570.0x	0.58-0.1x	0.54-0.2x	0.55-0.1x	0.60-0.1x	0.720.0x	0.71-0.1x	0.65-104.1x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Lincoln National Corp. LNC	FY2025	$18.2B	$1.2B	6.5%	$7.7B	19/100
Jackson Financial Inc. JXN	FY2025	$6.7B	-$17.0M	-0.3%	$8.8B	8/100
PRIMERICA, INC. PRI	FY2025	$3.3B	$751.2M	22.8%	$8.5B	45/100
F&G Annuities & Life, Inc. FG	FY2025	$5.7B	$248.0M	4.3%	$2.5B	9/100
Genworth Financial, Inc. GNW	FY2025	$7.3B	$223.0M	3.0%	$3.6B	16/100
Brighthouse Financial, Inc. BHF	FY2025	$6.8B	$331.0M	4.9%	$2.8B	5/100

Where Lincoln National Corp. Ranks

Frequently Asked Questions

What is Lincoln National Corp.'s annual revenue?

Lincoln National Corp. (LNC) reported $18.2B in total revenue for fiscal year 2025. This represents a -1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lincoln National Corp.'s revenue growing?

Lincoln National Corp. (LNC) revenue declined by 1.2% year-over-year, from $18.4B to $18.2B in fiscal year 2025.

Is Lincoln National Corp. profitable?

Yes, Lincoln National Corp. (LNC) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 6.5%.

How much debt does Lincoln National Corp. have?

As of fiscal year 2025, Lincoln National Corp. (LNC) had $9.5B in cash and equivalents against $5.9B in long-term debt.

What is Lincoln National Corp.'s net profit margin?

Lincoln National Corp. (LNC) had a net profit margin of 6.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Lincoln National Corp. pay dividends?

Yes, Lincoln National Corp. (LNC) paid $1.80 per share in dividends during fiscal year 2025.

What is Lincoln National Corp.'s return on equity (ROE)?

Lincoln National Corp. (LNC) has a return on equity of 10.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lincoln National Corp.'s operating cash flow?

Lincoln National Corp. (LNC) recorded an outflow of $167.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Lincoln National Corp.'s total assets?

Lincoln National Corp. (LNC) had $417.2B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Lincoln National Corp. have outstanding?

Lincoln National Corp. (LNC) had 190M shares outstanding as of fiscal year 2025.

What is Lincoln National Corp.'s debt-to-equity ratio?

Lincoln National Corp. (LNC) had a debt-to-equity ratio of 0.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lincoln National Corp.'s return on assets (ROA)?

Lincoln National Corp. (LNC) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lincoln National Corp.'s P/E ratio?

Lincoln National Corp. (LNC) trades at 3.3x earnings, its market capitalization divided by net income of $2.4B net income, trailing 12 months to June 30, 2026. The market capitalization is $7.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lincoln National Corp.'s price-to-sales ratio?

Lincoln National Corp. (LNC) trades at 0.4x sales, its market capitalization divided by revenue of $19.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $7.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lincoln National Corp.'s Piotroski F-Score?

Lincoln National Corp. (LNC) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lincoln National Corp.'s earnings high quality?

For every $1 of reported earnings, Lincoln National Corp. (LNC) used $0.14 of operating cash (-$167.0M OCF vs $1.2B net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Lincoln National Corp.?

Lincoln National Corp. (LNC) scores 19 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.