LNC Fundamental Analysis - LINCOLN NATIONAL CORP

Name: LINCOLN NATIONAL CORP (LNC) Stock
Brand: LINCOLN NATIONAL CORP
Rating: 5 (3 reviews)

Fundamental Rating

Taking everything into account, LNC scores 4 out of 10 in our fundamental rating. LNC was compared to 146 industry peers in the Insurance industry. LNC has a medium profitability rating, but doesn't score so well on its financial health evaluation. LNC has a decent growth rate and is not valued too expensively. Finally LNC also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

LNC had positive earnings in the past year.

LNC had a negative operating cash flow in the past year.

The reported net income has been mixed in the past 5 years: LNC reported negative net income in multiple years.

The reported operating cash flow has been mixed in the past 5 years: LNC reported negative operating cash flow in multiple years.

1.2 Ratios

LNC's Return On Assets of 0.49% is on the low side compared to the rest of the industry. LNC is outperformed by 71.92% of its industry peers.

LNC has a better Return On Equity (19.32%) than 88.36% of its industry peers.

With a Return On Invested Capital value of 0.55%, LNC is not doing good in the industry: 65.75% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
ROA	0.49%
ROE	19.32%
ROIC	0.55%

ROA(3y)-0.03%

ROA(5y)0.11%

ROE(3y)-5.83%

ROE(5y)-1.24%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

LNC has a Profit Margin of 10.28%. This is in the better half of the industry: LNC outperforms 66.44% of its industry peers.

LNC's Profit Margin has improved in the last couple of years.

Looking at the Operating Margin, with a value of 14.02%, LNC is in the better half of the industry, outperforming 60.27% of the companies in the same industry.

In the last couple of years the Operating Margin of LNC has grown nicely.

		Industry Rank	Sector Rank
OM	14.02%
PM (TTM)	10.28%
GM	N/A

OM growth 3Y12.1%

OM growth 5Y19.11%

PM growth 3Y17.77%

PM growth 5Y24.78%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The number of shares outstanding for LNC has been increased compared to 1 year ago.

LNC has less shares outstanding than it did 5 years ago.

Compared to 1 year ago, LNC has an improved debt to assets ratio.

2.2 Solvency

A Debt/Equity ratio of 0.55 indicates that LNC is somewhat dependend on debt financing.

LNC has a Debt to Equity ratio of 0.55. This is in the lower half of the industry: LNC underperforms 71.92% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.55
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACCN/A

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 37.33% over the past year.

LNC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -7.39% yearly.

LNC shows a strong growth in Revenue. In the last year, the Revenue has grown by 37.15%.

LNC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.52% yearly.

EPS 1Y (TTM)37.33%

EPS 3Y-8.69%

EPS 5Y-7.39%

EPS Q2Q%-0.97%

Revenue 1Y (TTM)37.15%

Revenue growth 3Y1.12%

Revenue growth 5Y3.52%

Sales Q2Q%10.8%

3.2 Future

LNC is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.56% yearly.

The Revenue is expected to grow by 4.12% on average over the next years.

EPS Next Y27.98%

EPS Next 2Y13.98%

EPS Next 3Y12.15%

EPS Next 5Y10.56%

Revenue Next Year3.74%

Revenue Next 2Y3.84%

Revenue Next 3Y4.12%

Revenue Next 5Y4.12%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.

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4. Valuation

4.1 Price/Earnings Ratio

LNC is valuated cheaply with a Price/Earnings ratio of 5.24.

Based on the Price/Earnings ratio, LNC is valued cheaply inside the industry as 80.82% of the companies are valued more expensively.

LNC's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.28.

The Price/Forward Earnings ratio is 5.13, which indicates a rather cheap valuation of LNC.

83.56% of the companies in the same industry are more expensive than LNC, based on the Price/Forward Earnings ratio.

LNC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 33.61.

		Industry Rank	Sector Rank
PE	5.24
Fwd PE	5.13

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.

LNC's earnings are expected to grow with 12.15% in the coming years. This may justify a more expensive valuation.

PEG (NY)0.19

PEG (5Y)N/A

EPS Next 2Y13.98%

EPS Next 3Y12.15%

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5. Dividend

5.1 Amount

LNC has a Yearly Dividend Yield of 4.41%, which is a nice return.

LNC's Dividend Yield is rather good when compared to the industry average which is at 3.45. LNC pays more dividend than 81.51% of the companies in the same industry.

Compared to an average S&P500 Dividend Yield of 2.36, LNC pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	4.41%

5.2 History

The dividend of LNC is nicely growing with an annual growth rate of 9.26%!

LNC has paid a dividend for at least 10 years, which is a reliable track record.

LNC has not decreased their dividend for at least 10 years, which is a reliable track record.

Dividend Growth(5Y)9.26%

Div Incr Years0

Div Non Decr Years14

5.3 Sustainability

LNC pays out 20.16% of its income as dividend. This is a sustainable payout ratio.

LNC's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.

DP20.16%

EPS Next 2Y13.98%

EPS Next 3Y12.15%

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LINCOLN NATIONAL CORP

NYSE:LNC (11/11/2025, 12:00:45 PM)

41.465

+0.4 (+0.96%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupInsurance

GICS IndustryInsurance

Earnings (Last)10-30 2025-10-30/bmo

Earnings (Next)02-05 2026-02-05/amc

Inst Owners70.74%

Inst Owner Change0.66%

Ins Owners0.41%

Ins Owner Change-3.19%

Market Cap7.86B

Revenue(TTM)19.63B

Net Income(TTM)2.02B

Analysts54.29

Price Target44.54 (7.42%)

Short Float %3.05%

Short Ratio3.15

Dividend

		Industry Rank	Sector Rank
Dividend Yield	4.41%

Yearly Dividend2.34

Dividend Growth(5Y)9.26%

DP20.16%

Div Incr Years0

Div Non Decr Years14

Ex-Date10-10 2025-10-10 (0.45)

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)16.2%

Min EPS beat(2)8.74%

Max EPS beat(2)23.66%

EPS beat(4)4

Avg EPS beat(4)11%

Min EPS beat(4)3.35%

Max EPS beat(4)23.66%

EPS beat(8)7

Avg EPS beat(8)2.19%

EPS beat(12)8

Avg EPS beat(12)-9.64%

EPS beat(16)8

Avg EPS beat(16)-10.43%

Revenue beat(2)0

Avg Revenue beat(2)-10.01%

Min Revenue beat(2)-14.07%

Max Revenue beat(2)-5.95%

Revenue beat(4)0

Avg Revenue beat(4)-5.78%

Min Revenue beat(4)-14.07%

Max Revenue beat(4)-0.91%

Revenue beat(8)0

Avg Revenue beat(8)-12.04%

Revenue beat(12)2

Avg Revenue beat(12)-9.67%

Revenue beat(16)6

Avg Revenue beat(16)-2.89%

PT rev (1m)1.77%

PT rev (3m)7.03%

EPS NQ rev (1m)0.88%

EPS NQ rev (3m)2.71%

EPS NY rev (1m)2.83%

EPS NY rev (3m)10.08%

Revenue NQ rev (1m)0.8%

Revenue NQ rev (3m)1.2%

Revenue NY rev (1m)0.04%

Revenue NY rev (3m)1.11%

Valuation

		Industry Rank	Sector Rank
PE	5.24
Fwd PE	5.13
P/S	0.4
P/FCF	N/A
P/OCF	N/A
P/B	0.75
P/tB	0.84
EV/EBITDA	N/A

EPS(TTM)7.91

EY19.08%

EPS(NY)8.08

Fwd EY19.49%

FCF(TTM)-0.94

FCFYN/A

OCF(TTM)-0.94

OCFYN/A

SpS103.56

BVpS55.13

TBVpS49.1

PEG (NY)0.19

PEG (5Y)N/A

Graham Number99.06

Profitability

		Industry Rank	Sector Rank
ROA	0.49%
ROE	19.32%
ROCE	0.68%
ROIC	0.55%
ROICexc	0.57%
ROICexgc	1.7%
OM	14.02%
PM (TTM)	10.28%
GM	N/A
FCFM	N/A

ROA(3y)-0.03%

ROA(5y)0.11%

ROE(3y)-5.83%

ROE(5y)-1.24%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexgc growth 3Y18.6%

ROICexgc growth 5Y24.83%

ROICexc growth 3Y13.38%

ROICexc growth 5Y19.96%

OM growth 3Y12.1%

OM growth 5Y19.11%

PM growth 3Y17.77%

PM growth 5Y24.78%

GM growth 3YN/A

GM growth 5YN/A

F-Score6

Asset Turnover0.05

Health

		Industry Rank	Sector Rank
Debt/Equity	0.55
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	N/A
Cap/Sales	N/A
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score6

WACCN/A

ROIC/WACCN/A

Cap/Depr(3y)N/A

Cap/Depr(5y)N/A

Cap/Sales(3y)N/A

Cap/Sales(5y)N/A

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)37.33%

EPS 3Y-8.69%

EPS 5Y-7.39%

EPS Q2Q%-0.97%

EPS Next Y27.98%

EPS Next 2Y13.98%

EPS Next 3Y12.15%

EPS Next 5Y10.56%

Revenue 1Y (TTM)37.15%

Revenue growth 3Y1.12%

Revenue growth 5Y3.52%

Sales Q2Q%10.8%

Revenue Next Year3.74%

Revenue Next 2Y3.84%

Revenue Next 3Y4.12%

Revenue Next 5Y4.12%

EBIT growth 1Y2379.28%

EBIT growth 3Y13.35%

EBIT growth 5Y23.3%

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-121.84%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-121.84%

OCF growth 3YN/A

OCF growth 5YN/A

LINCOLN NATIONAL CORP / LNC FAQ

Can you provide the ChartMill fundamental rating for LINCOLN NATIONAL CORP?

ChartMill assigns a fundamental rating of 4 / 10 to LNC.

What is the valuation status for LNC stock?

ChartMill assigns a valuation rating of 6 / 10 to LINCOLN NATIONAL CORP (LNC). This can be considered as Fairly Valued.

How profitable is LINCOLN NATIONAL CORP (LNC) stock?

LINCOLN NATIONAL CORP (LNC) has a profitability rating of 4 / 10.

Can you provide the financial health for LNC stock?

The financial health rating of LINCOLN NATIONAL CORP (LNC) is 1 / 10.

Is the dividend of LINCOLN NATIONAL CORP sustainable?

The dividend rating of LINCOLN NATIONAL CORP (LNC) is 9 / 10 and the dividend payout ratio is 20.16%.

LINCOLN NATIONAL CORP (LNC) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens

LINCOLN NATIONAL CORP / LNC FAQ

Can you provide the ChartMill fundamental rating for LINCOLN NATIONAL CORP?

What is the valuation status for LNC stock?

How profitable is LINCOLN NATIONAL CORP (LNC) stock?

Can you provide the financial health for LNC stock?

Is the dividend of LINCOLN NATIONAL CORP sustainable?