LNC Fundamental Analysis - LINCOLN NATIONAL CORP

Fundamental Rating

We assign a fundamental rating of 4 out of 10 to LNC. LNC was compared to 143 industry peers in the Insurance industry. LNC may be in some trouble as it scores bad on both profitability and health. LNC has a correct valuation and a medium growth rate. Finally LNC also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

In the past year LNC was profitable.

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

In multiple years LNC reported negative net income over the last 5 years.

In multiple years LNC reported negative operating cash flow during the last 5 years.

1.2 Ratios

The Return On Assets of LNC (0.32%) is worse than 71.53% of its industry peers.

LNC has a Return On Equity of 15.16%. This is in the better half of the industry: LNC outperforms 75.00% of its industry peers.

Looking at the Return On Invested Capital, with a value of 0.28%, LNC is doing worse than 68.06% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	0.32%
ROE	15.16%
ROIC	0.28%

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

With a Profit Margin value of 6.93%, LNC perfoms like the industry average, outperforming 47.92% of the companies in the same industry.

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

The Operating Margin of LNC (7.24%) is worse than 61.81% of its industry peers.

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

		Industry Rank	Sector Rank
OM	7.24%
PM (TTM)	6.93%
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.

The number of shares outstanding for LNC has been reduced compared to 5 years ago.

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

2.2 Solvency

A Debt/Equity ratio of 0.72 indicates that LNC is somewhat dependend on debt financing.

LNC has a worse Debt to Equity ratio (0.72) than 83.33% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.72
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

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Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 80.29% over the past year.

The Earnings Per Share has been decreasing by -7.39% on average over the past years.

Looking at the last year, LNC shows a small growth in Revenue. The Revenue has grown by 7.02% in the last year.

The Revenue has been growing slightly by 3.52% on average over the past years.

EPS 1Y (TTM)80.29%

EPS 3Y-8.69%

EPS 5Y-7.39%

EPS Q2Q%290.24%

Revenue 1Y (TTM)7.02%

Revenue growth 3Y1.12%

Revenue growth 5Y3.52%

Sales Q2Q%2.33%

3.2 Future

Based on estimates for the next years, LNC will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.56% on average per year.

The Revenue is expected to grow by 3.27% on average over the next years.

EPS Next Y16.57%

EPS Next 2Y11.11%

EPS Next 3Y11.47%

EPS Next 5Y10.56%

Revenue Next Year2.1%

Revenue Next 2Y1.91%

Revenue Next 3Y2.65%

Revenue Next 5Y3.27%

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

The Price/Earnings ratio is 4.45, which indicates a rather cheap valuation of LNC.

Compared to the rest of the industry, the Price/Earnings ratio of LNC indicates a rather cheap valuation: LNC is cheaper than 81.94% of the companies listed in the same industry.

Compared to an average S&P500 Price/Earnings ratio of 26.35, LNC is valued rather cheaply.

LNC is valuated cheaply with a Price/Forward Earnings ratio of 4.30.

Compared to the rest of the industry, the Price/Forward Earnings ratio of LNC indicates a rather cheap valuation: LNC is cheaper than 81.94% of the companies listed in the same industry.

Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, LNC is valued rather cheaply.

		Industry Rank	Sector Rank
PE	4.45
Fwd PE	4.3

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.

PEG (NY)0.27

PEG (5Y)N/A

EPS Next 2Y11.11%

EPS Next 3Y11.47%

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5. Dividend

5.1 Amount

LNC has a Yearly Dividend Yield of 5.43%, which is a nice return.

Compared to an average industry Dividend Yield of 3.51, LNC pays a better dividend. On top of this LNC pays more dividend than 84.03% of the companies listed in the same industry.

Compared to an average S&P500 Dividend Yield of 2.42, LNC pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	5.43%

5.2 History

On average, the dividend of LNC grows each year by 9.26%, which is quite nice.

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

LNC has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.

Dividend Growth(5Y)9.26%

Div Incr Years0

Div Non Decr Years14

5.3 Sustainability

32.05% of the earnings are spent on dividend by LNC. This is a low number and 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.

DP32.05%

EPS Next 2Y11.11%

EPS Next 3Y11.47%

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LINCOLN NATIONAL CORP

NYSE:LNC (6/20/2025, 8:04:00 PM)

After market: 33.01 0 (0%)

33.01

-0.16 (-0.48%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupInsurance

GICS IndustryInsurance

Earnings (Last)05-08 2025-05-08/bmo

Earnings (Next)07-31 2025-07-31/amc

Inst Owners76.85%

Inst Owner Change2.18%

Ins Owners0.45%

Ins Owner Change9.89%

Market Cap5.64B

Analysts55.24

Price Target38.86 (17.72%)

Short Float %3.14%

Short Ratio2.77

Dividend

		Industry Rank	Sector Rank
Dividend Yield	5.43%

Yearly Dividend2.34

Dividend Growth(5Y)9.26%

DP32.05%

Div Incr Years0

Div Non Decr Years14

Ex-Date07-10 2025-07-10 (0.45)

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)5.79%

Min EPS beat(2)3.35%

Max EPS beat(2)8.23%

EPS beat(4)4

Avg EPS beat(4)9.98%

Min EPS beat(4)2.74%

Max EPS beat(4)25.62%

EPS beat(8)6

Avg EPS beat(8)-11.72%

EPS beat(12)6

Avg EPS beat(12)-14.27%

EPS beat(16)7

Avg EPS beat(16)-12.97%

Revenue beat(2)0

Avg Revenue beat(2)-1.55%

Min Revenue beat(2)-2.2%

Max Revenue beat(2)-0.91%

Revenue beat(4)0

Avg Revenue beat(4)-4.61%

Min Revenue beat(4)-11.82%

Max Revenue beat(4)-0.91%

Revenue beat(8)1

Avg Revenue beat(8)-10.91%

Revenue beat(12)4

Avg Revenue beat(12)-5.16%

Revenue beat(16)8

Avg Revenue beat(16)-1.09%

PT rev (1m)3.53%

PT rev (3m)-2.31%

EPS NQ rev (1m)0.59%

EPS NQ rev (3m)-6.01%

EPS NY rev (1m)-0.85%

EPS NY rev (3m)-6.43%

Revenue NQ rev (1m)-0.32%

Revenue NQ rev (3m)-2.43%

Revenue NY rev (1m)0.14%

Revenue NY rev (3m)-1.58%

Valuation

		Industry Rank	Sector Rank
PE	4.45
Fwd PE	4.3
P/S	0.31
P/FCF	N/A
P/OCF	N/A
P/B	0.69
P/tB	0.8
EV/EBITDA	N/A

EPS(TTM)7.41

EY22.45%

EPS(NY)7.68

Fwd EY23.26%

FCF(TTM)-5.48

FCFYN/A

OCF(TTM)-5.48

OCFYN/A

SpS104.91

BVpS47.99

TBVpS41.29

PEG (NY)0.27

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	0.32%
ROE	15.16%
ROCE	0.35%
ROIC	0.28%
ROICexc	0.29%
ROICexgc	0.81%
OM	7.24%
PM (TTM)	6.93%
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

ROICexcg growth 3Y18.6%

ROICexcg 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-Score4

Asset Turnover0.05

Health

		Industry Rank	Sector Rank
Debt/Equity	0.72
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-Score4

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)80.29%

EPS 3Y-8.69%

EPS 5Y-7.39%

EPS Q2Q%290.24%

EPS Next Y16.57%

EPS Next 2Y11.11%

EPS Next 3Y11.47%

EPS Next 5Y10.56%

Revenue 1Y (TTM)7.02%

Revenue growth 3Y1.12%

Revenue growth 5Y3.52%

Sales Q2Q%2.33%

Revenue Next Year2.1%

Revenue Next 2Y1.91%

Revenue Next 3Y2.65%

Revenue Next 5Y3.27%

EBIT growth 1Y-35.44%

EBIT growth 3Y13.35%

EBIT growth 5Y23.3%

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-133.6%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-133.6%

OCF growth 3YN/A

OCF growth 5YN/A

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

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