LINCOLN NATIONAL CORP (LNC)

43.29 -0.51% (-0.22)

Over 5Y: -20.0%

2026-08-28
20 40 60
2021 2022 2023 2024 2025 2026

Financials Quarterly

Q3 '21 — Revenue: 5.2B Q3 '21 — Operating Cash Flow: 338M Q3 '21 — Net Income: 318M Q4 '21 — Revenue: 5.2B Q4 '21 — Operating Cash Flow: -323M Q4 '21 — Net Income: 708M Q1 '22 — Revenue: 4.7B Q1 '22 — Operating Cash Flow: 476M Q1 '22 — Net Income: 1.5B Q2 '22 — Revenue: 5.6B Q2 '22 — Operating Cash Flow: 2B Q2 '22 — Net Income: 840M Q3 '22 — Revenue: 4.7B Q3 '22 — Operating Cash Flow: 683M Q3 '22 — Net Income: -1.8B Q4 '22 — Revenue: 3.8B Q4 '22 — Operating Cash Flow: 219M Q4 '22 — Net Income: 812M Q1 '23 — Revenue: 3.8B Q1 '23 — Operating Cash Flow: -774M Q1 '23 — Net Income: -881M Q2 '23 — Revenue: 2.9B Q2 '23 — Operating Cash Flow: 522M Q2 '23 — Net Income: 511M Q3 '23 — Revenue: 4.2B Q3 '23 — Operating Cash Flow: 46M Q3 '23 — Net Income: 853M Q4 '23 — Revenue: 699M Q4 '23 — Operating Cash Flow: -1.9B Q4 '23 — Net Income: -1.2B Q1 '24 — Revenue: 4.1B Q1 '24 — Operating Cash Flow: -1.3B Q1 '24 — Net Income: 1.2B Q2 '24 — Revenue: 5.2B Q2 '24 — Operating Cash Flow: -859M Q2 '24 — Net Income: 895M Q3 '24 — Revenue: 4.1B Q3 '24 — Operating Cash Flow: -27M Q3 '24 — Net Income: -528M Q4 '24 — Revenue: 5.1B Q4 '24 — Operating Cash Flow: 222M Q4 '24 — Net Income: 1.7B Q1 '25 — Revenue: 4.7B Q1 '25 — Operating Cash Flow: -272M Q1 '25 — Net Income: -722M Q2 '25 — Revenue: 4B Q2 '25 — Operating Cash Flow: 1B Q2 '25 — Net Income: 699M Q3 '25 — Revenue: 4.6B Q3 '25 — Operating Cash Flow: -1.1B Q3 '25 — Net Income: 445M Q4 '25 — Revenue: 4.9B Q4 '25 — Operating Cash Flow: 233M Q4 '25 — Net Income: 754M Q1 '26 — Revenue: 5.3B Q1 '26 — Operating Cash Flow: 138M Q1 '26 — Net Income: -172M Q2 '26 — Revenue: 4.5B Q2 '26 — Operating Cash Flow: -558M Q2 '26 — Net Income: 1.3B -1.5B 0 1.5B 3B 4.5B 6B
Q4 '21 Q3 '22 Q2 '23 Q1 '24 Q4 '24 Q3 '25 Q2 '26
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2026-06-30, reported in USD. The newest fact in the filings is dated 2026-06-30, 61 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

4.8
ROIC 29.3%
Oper. margin 14.7%
OE margin -7.3%
Accruals 0.86%
ROE 20.8%
ROA 0.55%
Asset turnover 0.045×
FCF margin -6.9%
OCF / EBIT -0.47×
OCF margin -6.9%
Capex / sales —
EBITDA margin —
Gross margin —
ROCE —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

1.0
Segment HHI 0.29 HHI
RPO / sales —
RPO growth —

2 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

7.6
ND/EBITDA —
Cash / Debt 1.6×
Debt payback 0.0 yr
Payout 14.6%
Cash runway 2.8 yr
Debt / Eq 0.57×
F-score 2.6 pts
Current ratio —
Quick ratio —

2 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

4.1
Sales CAGR 4Y +0.69%
Sales/sh Y/Y +0.38%
EBIT Y/Y +118.8%
EPS Y/Y +93.2%
EBIT CAGR +15.3%
Div. growth +5.9%
Sales Q/Q +12.3%
EPS CAGR 4Y -26.5%
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.