LNC
Lincoln National Corp
$38.72
-0.47 (-1.20%)
At close · Jul 8
Market Cap
$7.55B
Shares
191,213,197
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$18.21B
-1.2%
FY2025
Net Income
$1.18B
-64.1%
FY2025
Diluted EPS
$5.83
-68.3%
FY2025
Operating Cash Flow
-$167M
+91.7%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $18.83B | $18.21B | $18.44B | $11.65B | $18.81B | $17.72B | $17.44B | $17.26B | $16.42B | $14.26B | $13.33B | $13.57B | $13.55B | $11.97B | $11.54B | $10.64B | $10.42B | $8.5B | $9.22B | $9.61B | |
| — | $12.16B | $11.83B | $9.14B | $11.69B | $11.66B | $5.37B | $5.51B | $4.6B | $3.26B | $2.99B | $3.25B | $2.99B | $2.69B | $2.46B | $2.29B | $2.18B | $2.06B | $2.02B | $1.85B | |
| — | $2.65B | $2.74B | $2.54B | $2.41B | $2.25B | $2.07B | $2.21B | $1.95B | $1.77B | $1.69B | $1.7B | $1.64B | $1.63B | $1.56B | $1.42B | $1.41B | $1.28B | $1.27B | — | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | $20M | $0 | -$1M | $34M | $8M | — | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | -$86M | -$125M | -$90M | $379M | $55M | — | — | |
| $2.04B | $1.34B | $4.02B | -$1.15B | $1.73B | $4.64B | $423M | $919M | $1.89B | $1.13B | $1.46B | $1.43B | $2B | $1.63B | $1.57B | $503M | $1.14B | -$521M | -$137M | $1.68B | |
| $314M | $161M | $747M | -$396M | $367M | $865M | -$76M | $33M | $244M | -$949M | $266M | $276M | $483M | $387M | $282M | $274M | $262M | -$106M | -$127M | $476M | |
| $1.73B | $1.18B | $3.28B | -$752M | $1.36B | $3.78B | $499M | $886M | $1.64B | $2.08B | $1.19B | $1.15B | $1.52B | $1.24B | $1.31B | $221M | $902M | -$485M | $57M | $1.22B | |
| — | 6.46% | 17.76% | -6.46% | 7.22% | 21.33% | 2.86% | 5.13% | 9.99% | 14.58% | 8.94% | 8.5% | 11.18% | 10.39% | 11.38% | 2.08% | 8.66% | -5.71% | 0.62% | 12.64% | |
| $1.64B | $1.09B | $3.18B | -$834M | $1.36B | — | — | — | — | — | — | — | — | — | $1.31B | $221M | $735M | -$520M | $57M | $1.22B | |
| $1.57B | $2.16B | $1.72B | $2.12B | -$14.98B | $204M | $3.76B | $6.15B | -$1.82B | $3.74B | $1.91B | -$1.1B | $3.05B | -$1B | $2.44B | $2.05B | $2.02B | — | — | — | |
| USD/shares | — | $5.94 | $18.66 | -$4.92 | $7.93 | $20.17 | $2.58 | $4.41 | $7.60 | $9.36 | $5.09 | $4.60 | $5.81 | $4.68 | $4.68 | $0.72 | $2.37 | -$1.85 | $0.22 | $4.50 |
| USD/shares | — | $5.83 | $18.41 | -$4.92 | $7.78 | $19.96 | $2.56 | $4.38 | $7.40 | $9.22 | $5.03 | $4.51 | $5.67 | $4.52 | $4.56 | $0.69 | $2.30 | -$1.85 | $0.22 | $4.43 |
| shares | — | 182.67M | 170.6M | 169.56M | 171.03M | 187.36M | 193.61M | 200.61M | 215.94M | 222.13M | 234.18M | 250.63M | 260.88M | 265.63M | 280.65M | 307.22M | 310.01M | 280.03M | 257.5M | — |
| shares | — | 186.06M | 173.08M | 170.74M | 172.7M | 189.64M | 194.47M | 202.11M | 219.55M | 226.22M | 236.83M | 254.94M | 267.96M | 275.15M | 287.59M | 314.95M | 319.21M | 285.64M | 259.39M | — |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $9.54B in buybacks, $4.6B in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
EV/EBIT
—
P/E (TTM)
4.32×
Insurance - Life median 12.78×
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Group Protection Segment | $6,099,000,000 | $5,711,000,000 | $5,553,000,000 | $5,304,000,000 | $4,995,000,000 | $4,793,000,000 | $4,588,000,000 | $3,757,000,000 |
| Life Segment | $5,899,000,000 | $6,288,000,000 | $4,929,000,000 | $6,745,000,000 | $7,387,000,000 | $7,516,000,000 | $7,438,000,000 | $6,922,000,000 |
| Annuities Segment | $4,859,000,000 | $4,702,000,000 | $732,000,000 | $5,509,000,000 | $4,691,000,000 | $4,455,000,000 | $4,600,000,000 | $4,383,000,000 |
| Retirement Plan Services Segment | $1,331,000,000 | $1,278,000,000 | $1,274,000,000 | $1,258,000,000 | $1,322,000,000 | $1,213,000,000 | $1,200,000,000 | $1,178,000,000 |
| Amortization Of Dfel Associated With Benefit Ratio Unlocking Pre Tax | — | — | — | — | — | — | $6,000,000 | — |
| Excluded Realized Gain Loss Pre Tax Reconciling Item | — | — | — | — | — | — | -$794,000,000 | — |
| Other Operations | — | — | — | — | $181,000,000 | $185,000,000 | $220,000,000 | $235,000,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Annuities Segment | $1,198,000,000 | $1,160,000,000 | $1,073,000,000 | $1,161,000,000 |
| Group Protection Segment | $532,000,000 | $425,000,000 | $299,000,000 | $41,000,000 |
| Retirement Plan Services Segment | $163,000,000 | $163,000,000 | $171,000,000 | $211,000,000 |
| Life Segment | $117,000,000 | -$63,000,000 | -$159,000,000 | -$2,094,000,000 |
Operating Margin by Segment (%)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Group Protection Segment | 8.7% | 7.4% | 5.4% | 0.8% |
| Life Segment | 2% | -1% | -3.2% | -31% |
| Annuities Segment | 24.7% | 24.7% | 146.6% | 21.1% |
| Retirement Plan Services Segment | 12.2% | 12.8% | 13.4% | 16.8% |