Lincoln National (LCO) Stock Overview

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

LCO fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	1/6
Past Performance	3/6
Financial Health	3/6
Dividends	4/6

Rewards

Trading at 69.3% below our estimate of its fair value

Earnings are forecast to grow 6.81% per year

Trading at good value compared to peers and industry

Risk Analysis

Significant insider selling over the past 3 months

Dividend of 4.56% is not well covered by free cash flows

LCO Community Fair Values

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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 Price	US$33.71
52 Week High	US$39.59
52 Week Low	US$28.22
Beta	1.16
1 Month Change	11.62%
3 Month Change	15.01%
1 Year Change	17.17%
3 Year Change	44.43%
5 Year Change	-35.17%
Change since IPO	82.12%

Recent updates

Shareholder Returns

	LCO	DE Insurance	DE Market
7D	7.0%	0.4%	-1.6%
1Y	17.2%	6.7%	-1.3%

Return vs Industry: LCO exceeded the German Insurance industry which returned 4.6% over the past year.

Return vs Market: LCO exceeded the German Market which returned -2.1% over the past year.

Price Volatility

Is LCO's price volatile compared to industry and market?
LCO volatility
LCO Average Weekly Movement	4.9%
Insurance Industry Average Movement	3.4%
Market Average Movement	5.5%
10% most volatile stocks in DE Market	12.8%
10% least volatile stocks in DE Market	2.8%

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

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

About the Company

Founded	Employees	CEO	Website
1905	9,423	Ellen R. Cooper	www.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?
LCO fundamental statistics
Market cap	€6.48b
Earnings (TTM)	€1.43b
Revenue (TTM)	€16.48b

4.6x

P/E Ratio

0.4x

P/S Ratio

Is LCO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
LCO income statement (TTM)
Revenue	US$18.83b
Cost of Revenue	US$13.74b
Gross Profit	US$5.09b
Other Expenses	US$3.45b
Earnings	US$1.64b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Jul 30, 2026

Earnings per share (EPS)	8.56
Gross Margin	27.02%
Net Profit Margin	8.69%
Debt/Equity Ratio	65.7%

How did LCO perform over the long term?

See historical performance and comparison

Dividends

4.6%

Current Dividend Yield

21%

Payout Ratio

Does LCO pay a reliable dividends?

See LCO dividend history and benchmarks

When do you need to buy LCO by to receive an upcoming dividend?
Lincoln National dividend dates
Ex Dividend Date	Jul 10 2026
Dividend Pay Date	Aug 03 2026
Days until Ex dividend	1 day
Days until Dividend pay date	23 days

Does LCO pay a reliable dividends?

See LCO dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/07/09 20:56
End of Day Share Price	2026/07/09 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 28 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.

Analyst	Institution
null null	Argus Research Company
Taylor Scott	Barclays
Jay Gelb	Barclays

Lincoln National (LCO) Stock Overview

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Risk Analysis

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Lincoln National Corporation Competitors

Wüstenrot & Württembergische

NÜRNBERGER Beteiligungs-AG

Talanx

Hannover Rück

Price History & Performance

Recent News & Updates

Upcoming dividend of US$0.45 per share

Executive VP and Chief People recently sold €748k worth of stock

Lincoln National Corporation Announces Management Changes

First quarter dividend of US$0.45 announced

Lincoln National Corporation, Annual General Meeting, May 28, 2026

Lincoln Financial Group Appoints Todd Lacey as Senior Vice President, Head of Institutional Sales for Retirement Plan Services

Recent updates

Upcoming dividend of US$0.45 per share

Executive VP and Chief People recently sold €748k worth of stock

Lincoln National Corporation Announces Management Changes

First quarter dividend of US$0.45 announced

Lincoln National Corporation, Annual General Meeting, May 28, 2026

Lincoln Financial Group Appoints Todd Lacey as Senior Vice President, Head of Institutional Sales for Retirement Plan Services

Lincoln Financial Announces New Fixed Indexed Annuity Income Solutions

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on May 1, 2026

Lincoln Financial Announces Launch of Lincoln WealthProtector IUL , Strengthening Its Elite IUL Portfolio with A New Protection-Focused Solution

Lincoln Financial Introduces First Capital Group ETF Strategy for Fixed Indexed Annuities

Lincoln Financial Appoints Nilanjan (Neel) Adhya as Executive Vice President, Chief AI, Data and Analytics Officer, Effective January 9, 2026

Lincoln National Corporation Names John Muething Head of Investor Relations

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on February 2, 2026

Lincoln Financial Appoints John Morriss as Executive Vice President, Chief Investment Officer, Effective October 13, 2025

Lincoln National Corporation to Report Q2, 2026 Results on Jul 30, 2026

Lincoln Financial and Partners Group Launch New Royalty Evergreen Fund in U.S. Market

Lincoln Financial Debuts RILA Income Product Featuring Category-First Legacy Benefit

Lincoln Financial and Bain Capital Launch New Private Market Fund to Provide Individual Investors Access to Private Credit

Lincoln National Corporation Announces Management Changes

Lincoln Financial Enhances Fixed Indexed Annuities with New Cap Lock Strategy and Exclusive Nasdaq Priva Index

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on November 3, 2025

Lincoln National Corporation to Report Q1, 2026 Final Results on May 07, 2026

Lincoln Financial Launches Exclusive Capital Group and Vanguard Fund Within Variable Annuities

Lincoln National Corporation announced that it has received $825.417868 million in funding from Bain Capital Prairie, LLC

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable August 1, 2025

Lincoln Financial Expands Elite Indexed Universal Life Portfolio with New Early Cash Value Product

Lincoln National Corporation, Annual General Meeting, May 22, 2025

Lincoln National Corporation announced that it expects to receive $825.417868 million in funding from Bain Capital Prairie, LLC

Lincoln Financial Launches First Product in New Elite Indexed Universal Life Portfolio

Lincoln National Corporation Elects Jim Morris to Serve on the Board of Directors

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable May 1, 2025

Lincoln Financial Expands Life Insurance Portfolio with Launch of Two New Variable Universal Life Products

Lincoln National Corporation to Report Q3, 2025 Results on Oct 30, 2025

Third quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on February 3, 2025

New major risk - Dividend sustainability

Third quarter 2024 earnings released: US$3.10 loss per share (vs US$4.83 profit in 3Q 2023)

Lincoln Financial Announces Executive Changes

Lincoln National Corporation to Report Q2, 2025 Results on Jul 31, 2025

Upcoming dividend of US$0.45 per share

Lincoln Financial Reports Passing of Board Member Michael F. Mee

Second quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on November 1, 2024

Lincoln Financial Group Expands Suite of In-Plan Guaranteed Lifetime Income Products to Offer More Flexibility, Choice and Customization in Retirement

Second quarter 2024 earnings released: EPS: US$5.18 (vs US$2.96 in 2Q 2023)

Upcoming dividend of US$0.45 per share

Executive VP and Chief People recently sold €1.7m worth of stock

First quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on August 1, 2024

Lincoln Financial Group Announces New Version of its Lincoln Level Advantage®? Index-Linked Annuity with the Launch of Lincoln Level Advantage 2SM

Lincoln Financial Group Appoints Brian Kroll as Executive Vice President, Head of Retail Life and Annuity Solutions

Lincoln National Corporation Ceases Matthew Grove as Executive Officer

Osaic Inc. completed the acquisition of Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation from Lincoln National Corporation (NYSE:LNC).

First quarter 2024 earnings released: EPS: US$6.93 (vs US$5.37 loss in 1Q 2023)

Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Lincoln National Corporation

Lincoln National Corporation, Annual General Meeting, May 23, 2024

Lincoln National Corporation to Report Q4, 2024 Results on Feb 06, 2025

Lincoln Financial Group Introduces Side-By-Side Pooled Employer Retirement Solutions for Businesses and Not-For-Profit Organizations

Upcoming dividend of US$0.45 per share

Full year 2023 earnings released: US$4.92 loss per share (vs US$7.94 profit in FY 2022)

Fourth quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable from May 1, 2024