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Lincoln National CorporationNYSE:LNC Stock Report

Market Cap US$7.8b
Share Price
US$40.65
My Fair Value
US$41
1.5% undervalued intrinsic discount
1Y31.1%
7D-0.8%
Portfolio Value
​
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Lincoln National Corporation

NYSE:LNC Stock Report

Market Cap: US$7.8b

Lincoln National (LNC) Stock Overview

Through its subsidiaries, operates multiple insurance and retirement businesses in the United States. More details

LNC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance1/6
Financial Health3/6
Dividends5/6

Rewards

Trading at 61.3% below our estimate of its fair value

Earnings are forecast to grow 17.65% per year

Pays a reliable dividend of 4.43%

Trading at good value compared to peers and industry

Risk Analysis

Significant insider selling over the past 3 months

Profit margins (5.8%) are lower than last year (12%)


LNC Community Fair Values

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See what 23 others think this stock is worth. Follow their fair value or set your own to get alerts.

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Lincoln National

Rising Expenses Will Squeeze Margins In US Insurance

Key Takeaways Strategic emphasis on profitability might limit revenue growth, especially if market competition intensifies. Investments in technology and strategy shifts could raise expenses short-term, challenging net margins and cash flow.
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US$31.00
FV
31.1% overvalued intrinsic discount
1.86%
Revenue growth p.a.
0users have liked this narrative
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0users have followed this narrative
4 months ago author updated this narrative
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Lincoln National

Diversified Transformation And Digital Modernization Will Unlock Market Opportunity

Key Takeaways A shift toward diversified, higher-margin products and modernization initiatives is expected to enhance profitability, efficiency, and long-term revenue growth. Expanded distribution and strategic partnerships position the company to access new customer segments and capitalize on favorable demographic and regulatory trends.
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US$41.27
FV
1.5% undervalued intrinsic discount
5.22%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
11users have followed this narrative
1 day ago author updated this narrative
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Lincoln National

Aging And Digital Trends Will Spur Insurance Demand Despite Risks

Key Takeaways Growth in annuity sales, retirement products, and workplace solutions is fueled by demographic trends, product innovation, and expanded distribution capabilities. Investments in digital modernization, optimized product mix, and yield enhancement are improving efficiency, profitability, and long-term earnings visibility.
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US$46.00
FV
11.6% undervalued intrinsic discount
4.61%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
4 months ago author updated this narrative
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Lincoln National Corporation Competitors

Price History & Performance

Summary of share price highs, lows and changes for Lincoln National
Historical stock prices
Current Share PriceUS$40.65
52 Week HighUS$41.09
52 Week LowUS$27.58
Beta1.43
1 Month Change17.83%
3 Month Change25.54%
1 Year Change31.09%
3 Year Change-17.95%
5 Year Change9.84%
Change since IPO924.25%

Recent News & Updates

Lincoln National (NYSE:LNC) Has Affirmed Its Dividend Of $0.45

Aug 18
Lincoln National (NYSE:LNC) Has Affirmed Its Dividend Of $0.45

Lincoln National: Q2 Result, Progress Made But Execution Risk Remains

Aug 02

Recent updates

Lincoln National (NYSE:LNC) Has Affirmed Its Dividend Of $0.45

Aug 18
Lincoln National (NYSE:LNC) Has Affirmed Its Dividend Of $0.45

Lincoln National: Q2 Result, Progress Made But Execution Risk Remains

Aug 02

Lincoln National's (NYSE:LNC) Dividend Will Be $0.45

Jun 28
Lincoln National's (NYSE:LNC) Dividend Will Be $0.45

Lincoln National (NYSE:LNC) Has Affirmed Its Dividend Of $0.45

May 26
Lincoln National (NYSE:LNC) Has Affirmed Its Dividend Of $0.45

Shareholders May Be More Conservative With Lincoln National Corporation's (NYSE:LNC) CEO Compensation For Now

May 16
Shareholders May Be More Conservative With Lincoln National Corporation's (NYSE:LNC) CEO Compensation For Now

Lincoln National: Insurance And Annuities Could Drive Business And Sustain Dividends

Mar 19

Lincoln National: We Have A Significant Potential Upside Going Into 2025-2027

Jan 13

Lincoln National (NYSE:LNC) Is Paying Out A Dividend Of $0.45

Dec 02
Lincoln National (NYSE:LNC) Is Paying Out A Dividend Of $0.45

Lincoln National (NYSE:LNC) Will Pay A Dividend Of $0.45

Nov 18
Lincoln National (NYSE:LNC) Will Pay A Dividend Of $0.45

Why Lincoln National Remains Interesting And Why Q3 2024 Matters Only A Little

Oct 31
User avatar

Critical Shifts And Operational Cuts Threaten Long-term Growth And Competitiveness

Strategic focus on capital efficiency and reinsurance may improve cash flow but risk limiting investment in growth and innovation, impacting long-term competitiveness.

Lincoln National: Despite Progress On Capital, Patience Is Required (Rating Upgrade)

Aug 14

Lincoln: The Upside Is Not Yet Over

Jul 08

Lincoln National: Surging Industry Annuity Sales A Boon, Q1 Results Mask Positive Trends

May 27

Lincoln National Q4: Long Turnaround May Leave Shares Languishing

Mar 07

Lincoln National: High Yield, Weak Flows Amid Shifting Market Interest Rates

Nov 16

Shareholder Returns

LNCUS InsuranceUS Market
7D-0.8%1.1%-1.5%
1Y31.1%6.5%14.4%

Return vs Industry: LNC exceeded the US Insurance industry which returned 6.5% over the past year.

Return vs Market: LNC exceeded the US Market which returned 14.4% over the past year.

Price Volatility

Is LNC's price volatile compared to industry and market?
LNC volatility
LNC Average Weekly Movement4.9%
Insurance Industry Average Movement4.2%
Market Average Movement6.4%
10% most volatile stocks in US Market17.4%
10% least volatile stocks in US Market3.0%

Stable Share Price: LNC has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: LNC's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19059,783Ellen R. Cooperwww.lincolnfinancial.com

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.

Lincoln National Corporation Fundamentals Summary

How do Lincoln National's earnings and revenue compare to its market cap?
LNC fundamental statistics
Market capUS$7.75b
Earnings (TTM)US$1.05b
Revenue (TTM)US$18.04b
7.4x
P/E Ratio
0.4x
P/S Ratio

Is LNC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
LNC income statement (TTM)
RevenueUS$18.04b
Cost of RevenueUS$13.29b
Gross ProfitUS$4.75b
Other ExpensesUS$3.70b
EarningsUS$1.05b

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

Oct 30, 2025

Earnings per share (EPS)5.51
Gross Margin26.32%
Net Profit Margin5.79%
Debt/Equity Ratio95.5%

How did LNC perform over the long term?

See historical performance and comparison

Dividends

4.4%
Current Dividend Yield
30%
Payout Ratio

Does LNC pay a reliable dividends?

See LNC dividend history and benchmarks
When do you need to buy LNC by to receive an upcoming dividend?
Lincoln National dividend dates
Ex Dividend DateOct 10 2025
Dividend Pay DateNov 03 2025
Days until Ex dividend49 days
Days until Dividend pay date73 days

Does LNC pay a reliable dividends?

See LNC dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/08/21 21:37
End of Day Share Price 2025/08/21 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Lincoln National Corporation is covered by 32 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullArgus Research Company
Taylor ScottBarclays
Jay GelbBarclays