Lincoln National Future Growth

Future criteria checks 2/6

Lincoln National is forecast to grow earnings and revenue by 6.4% and 15% per annum respectively. EPS is expected to grow by 6.1% per annum. Return on equity is forecast to be 12.1% in 3 years.

Key information

6.4%

Earnings growth rate

6.1%

EPS growth rate

Insurance earnings growth	9.2%
Revenue growth rate	15.0%
Future return on equity	12.1%
Analyst coverage	Good
Last updated	03 May 2024

Recent future growth updates

Recent updates

Lincoln National: Unrealized Bond Losses And Excess Mortality Threaten Stability

May 25

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

Apr 05

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

Feb 20

Lincoln National declares $0.45 dividend

Feb 16

Lincoln National: A Perfect Buying Opportunity

Jan 30

Lincoln National: Stability With A Rebound Potential After The Contraction

Dec 19

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

Dec 15

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

Nov 22

Lincoln National stock advances as Goldman upgrades to Buy

Nov 16

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

Nov 06

Lincoln National Non-GAAP EPS of -$10.23 misses by $12.02, revenue of $4.8B beats by $410M

Nov 02

Shrinking Buybacks Will Keep Lincoln National Stock From Rising

Oct 13

Lincoln Financial partners with life insurance brokerage to expand distribution

Sep 27

Lincoln National's Fortress Balance Sheet Pays Out Consistently

Sep 20

Lincoln National Is A No-Brainer Buy, Here's Why

Aug 20

Lincoln National declares $0.45 dividend

Aug 11

Lincoln National Non-GAAP EPS of $2.23 beats by $0.02, revenue of $5.1B beats by $530M

Aug 03

Earnings and Revenue Growth Forecasts

NYSE:LNC - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	20,447	1,370	N/A	N/A	4
12/31/2025	19,336	1,287	600	N/A	7
12/31/2024	18,446	1,060	550	N/A	6
3/31/2024	11,947	1,260	-2,643	-2,643	N/A
12/31/2023	11,645	-834	-2,074	-2,074	N/A
9/30/2023	14,787	1,236	388	388	N/A
6/30/2023	15,256	-1,360	992	992	N/A
3/31/2023	17,904	-1,030	2,359	2,359	N/A
12/31/2022	18,810	1,358	3,609	3,609	N/A
9/30/2022	20,204	1,239	3,075	3,075	N/A
6/30/2022	20,773	3,334	2,764	2,764	N/A
3/31/2022	20,048	3,144	1,286	1,286	N/A
12/31/2021	17,715	3,778	-217	-217	N/A
9/30/2021	18,763	1,328	301	301	N/A
6/30/2021	18,883	1,408	-668	-668	N/A
3/31/2021	17,548	672	-563	-563	N/A
12/31/2020	17,439	499	534	534	N/A
9/30/2020	17,648	788	512	512	N/A
6/30/2020	16,925	228	847	847	N/A
3/31/2020	17,718	686	-900	-900	N/A
12/31/2019	17,258	886	-2,686	-2,686	N/A
9/30/2019	17,444	853	-1,948	-1,948	N/A
6/30/2019	17,070	1,505	-1,251	-1,251	N/A
3/31/2019	16,780	1,526	472	472	N/A
12/31/2018	16,424	1,641	1,943	1,943	N/A
9/30/2018	15,562	2,057	1,213	1,213	N/A
6/30/2018	14,809	1,985	1,218	1,218	N/A
3/31/2018	14,366	2,011	819	819	N/A
12/31/2017	14,257	2,079	N/A	788	N/A
9/30/2017	13,842	1,454	N/A	1,201	N/A
6/30/2017	13,856	1,502	N/A	938	N/A
3/31/2017	13,587	1,416	N/A	1,083	N/A
12/31/2016	13,330	1,192	N/A	1,272	N/A
9/30/2016	13,248	1,285	N/A	1,436	N/A
6/30/2016	13,438	1,046	N/A	2,197	N/A
3/31/2016	13,511	1,065	N/A	2,245	N/A
12/31/2015	13,572	1,154	N/A	2,243	N/A
9/30/2015	14,085	1,219	N/A	2,918	N/A
6/30/2015	13,782	1,431	N/A	2,737	N/A
3/31/2015	13,682	1,485	N/A	2,559	N/A
12/31/2014	13,554	1,514	N/A	2,526	N/A
9/30/2014	12,991	1,517	N/A	1,390	N/A
6/30/2014	12,588	1,415	N/A	1,115	N/A
3/31/2014	12,306	1,334	N/A	1,313	N/A
12/31/2013	11,969	1,244	N/A	799	N/A
9/30/2013	11,820	1,214	N/A	1,107	N/A
6/30/2013	11,765	1,277	N/A	710	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: LNC's forecast earnings growth (6.4% per year) is above the savings rate (2.4%).

Earnings vs Market: LNC's earnings (6.4% per year) are forecast to grow slower than the US market (14.1% per year).

High Growth Earnings: LNC's earnings are forecast to grow, but not significantly.

Revenue vs Market: LNC's revenue (15% per year) is forecast to grow faster than the US market (8.2% per year).

High Growth Revenue: LNC's revenue (15% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: LNC's Return on Equity is forecast to be low in 3 years time (12.1%).

Lincoln National Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Price target increased by 7.7% to US$28.00

Price target increased by 8.2% to US$27.73

Price target decreased by 9.2% to US$24.64

Price target decreased by 7.2% to US$25.79

Lincoln National Corporation Provides Preliminary Earnings Guidance for the First Quarter of 2023

Price target decreased by 8.2% to US$28.00

Recent updates

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

Lincoln National Q4: Long Turnaround May Leave Shares Languishing

Fourth quarter dividend of US$0.45 announced

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

Full year 2023 earnings: EPS and revenues miss analyst expectations

Price target increased by 7.7% to US$28.00

Price target increased by 8.2% to US$27.73

Lincoln National (NYSE:LNC) Has Announced A Dividend Of $0.45

Lincoln National Corporation to Report Q2, 2024 Results on Aug 01, 2024

Upcoming dividend of US$0.45 per share at 6.7% yield

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

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

Lincoln Financial Group Declares Quarterly Dividend, Payable on February 1, 2024

New major risk - Financial position

Third quarter 2023 earnings: EPS exceeds analyst expectations

Lincoln Financial Group Receives Regulatory Approval for Reinsurance Transaction with Fortitude Re Ltd

Lincoln Financial Group Introduces Comprehensive Health Savings Solutions for Plan Sponsors

Lincoln Financial Group Names Tina Madon as Senior Vice President, Head of Investor Relations

Upcoming dividend of US$0.45 per share at 7.3% yield

Lincoln National Corporation to Report Q3, 2023 Results on Nov 01, 2023

Lincoln National (NYSE:LNC) Has Announced A Dividend Of $0.45

Lincoln Financial Group Names Jared Nepa as Head of Life and Moneyguard Distribution

Lincoln National (NYSE:LNC) Is Due To Pay A Dividend Of $0.45

Lincoln National Corporation Elects Owen Ryan to Serve on the Board of Directors

Poor Capital Management Leaves Lincoln National Negatively Positioned

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

Why Lincoln National Remains One Of My Highest Picks.

Lincoln Financial Group Enhances Customer Experience for Its Employer Clients with New Onboarding Collaboration Tool

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

Lincoln National Corporation's Declares Quarterly Cash Dividend, Payable on November 1, 2023

Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Lincoln National: Returning 14% And Worth A Look

Lincoln National: The Commons Or Preferreds? One Might Be Undervalued

Lincoln National Corporation to Report Q2, 2023 Results on Aug 02, 2023

Lincoln Financial Group Announces Executive Changes

Upcoming dividend of US$0.45 per share at 7.1% yield

Lincoln National: Seriously Undervalued At Peak Pessimism

Lincoln National (NYSE:LNC) Has Announced A Dividend Of $0.45

Lincoln National Corporation Approves the Appointment of Deirdre P. Connelly as Director

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable August 1, 2023

Lincoln National: Unrealized Bond Losses And Excess Mortality Threaten Stability

Price target decreased by 9.2% to US$24.64

Lincoln Financial Group Names Andrew D. Rallis as Executive Vice President and Chief Risk Officer, Effective May 15, 2023

Price target decreased by 7.2% to US$25.79

First quarter 2023 earnings released: US$5.37 loss per share (vs US$0.60 profit in 1Q 2022)

Lincoln National Corporation Provides Preliminary Earnings Guidance for the First Quarter of 2023

Price target decreased by 8.2% to US$28.00

Price target decreased by 8.6% to US$30.50

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

Upcoming dividend of US$0.45 per share at 8.3% yield

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

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on May 1, 2023

Lincoln National declares $0.45 dividend

Lincoln Financial Group Appoints Christen White as New Head of Group Benefit Claims

Full year 2022 earnings: Revenues in line with analyst expectations

Lincoln National Corporation Appoints Christopher Neczypor as Chief Financial Officer

Lincoln Financial Group Names Vince Garzarella Senior Vice President, Retirement Plan Services Operations

Lincoln National: A Perfect Buying Opportunity

Price target decreased to US$36.14

Upcoming dividend of US$0.45 per share

Lincoln National: Stability With A Rebound Potential After The Contraction

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

Lincoln National Corporation to Report Q4, 2022 Results on Feb 08, 2023

Price target decreased to US$41.57