Lincoln National Corporation

Lincoln National Corporation

LNCยทNYSE

$33.53

+0.10%
Financial ServicesInsurance - Life

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities. The Retirement Plan Services segment provides employers with retirement plan products and services primarily in the defined contribution retirement plan marketplace. This segment offers individual and group variable annuities, group fixed annuities, and mutual fund-based programs; and a range of plan services, including plan recordkeeping, compliance testing, participant education, and trust and custodial services. The Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders. The Group Protection segment offers group non-medical insurance products comprising short and long-term disability, statutory disability and paid family medical leave administration and absence management services, term life, dental, vision and accident, and critical illness benefits and services to the employer marketplace through various forms of employee-paid and employer-paid plans. The company distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries. Lincoln National Corporation was founded in 1905 and is based in Radnor, Pennsylvania.

At a Glance

Live Snapshot
Market Cap$6.41B
EPS5.9500
P/E Ratio5.64
Earnings Date07/30/2026
3Y-4.0%
5Y+4.0%
10Y+37.0%
3Y-13.0%
5Y+136.0%
10Y-1.0%
3Y-105.0%
5Y-131.0%
10Y-113.0%
Lincoln National Corporation

Lincoln National Corporation Profit Bridge

LNC ยท NYSE
Revenue18.21B
Cost of Goods Sold (7.77B)
Gross Profit10.44B
Operating Expenses (9.11B)
Operating Income1.34B
Interest Expense (227.00M)
Other Income/Expense0.00
Pretax Income1.34B
Income Tax (161.00M)
Net Income1.18B
Net Income
1.18B

Profitability Analysis

Gross Margin

57.3%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

7.3%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

6.5%

Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.

Effective Tax Rate

12.0%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

Lincoln National Corporation Income Statement

LNC โ€ข NYSE

Lincoln National Corporation Income StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009Dec 2008Dec 2007Dec 2006
REVENUE
18.2B
18B
11.7B
18.9B
17.6B
17.6B
17.3B
16.4B
14.3B
13.3B
13.6B
13.6B
12B
11.5B
10.6B
10.4B
8.5B
9.2B
10.5B
9B
GROSS PROFIT
(7.8B)
(13.4B)
(11.7B)
(16.5B)
(13.7B)
(14.1B)
(13.2B)
(11.7B)
(9.8B)
(9.5B)
(9.8B)
(9.3B)
(8.1B)
(7.7B)
(7.3B)
(7.3B)
(8.1B)
(8.7B)
(8.3B)
(7B)
10.4B
4.6B
50M
2.4B
3.9B
3.5B
4.1B
4.7B
4.4B
3.8B
3.7B
4.3B
3.9B
3.8B
3.3B
3.1B
406M
525M
2.2B
2B
OPERATING INCOME
(9.1B)
(574M)
(1.2B)
(709M)
-743M
(3B)
(3.2B)
(2.8B)
(3.3B)
(2.4B)
(2.3B)
(2.3B)
(2.3B)
(2.2B)
(2.8B)
(2B)
(927M)
(662M)
(320M)
(224M)
(0.0)
(2.7B)
(2.5B)
(2.4B)
(2.3B)
(2.1B)
(2.2B)
(2B)
(1.8B)
(1.7B)
(1.7B)
(1.7B)
(1.7B)
(1.6B)
(1.5B)
(1.5B)
(0.0)
(0.0)
(0.0)
(0.0)
1.3B
4B
-1.1B
1.7B
4.6B
423M
919M
1.9B
1.1B
1.5B
1.4B
2B
1.6B
1.6B
503M
1.1B
-521M
-137M
1.9B
1.8B
PRE-TAX INCOME
(227M)
(336M)
(331M)
(283M)
(270M)
(284M)
(326M)
(297M)
(253M)
(331M)
(272M)
(267M)
(265M)
(273M)
(294M)
(291M)
(197M)
(281M)
(284M)
(224M)
-227M
-336M
-331M
-283M
-270M
-284M
-326M
-297M
-253M
-331M
-272M
-267M
-265M
-273M
-294M
-291M
-197M
-281M
-284M
-224M
(9.1B)
-2.2B
-1.3B
-1.7B
-3B
(964M)
(976M)
(858M)
(1.5B)
(671M)
(577M)
(615M)
(559M)
(592M)
(1.3B)
(534M)
(927M)
(662M)
(320M)
(224M)
1.3B
4B
-1.1B
1.7B
4.6B
423M
919M
1.9B
1.1B
1.5B
1.4B
2B
1.6B
1.6B
503M
1.1B
-521M
-137M
1.9B
1.8B
NET INCOME
(161M)
(747M)
-396M
(367M)
(865M)
-76M
(33M)
(244M)
-949M
(266M)
(276M)
(483M)
(387M)
(282M)
(274M)
(262M)
-106M
-127M
(553M)
(483M)
1.2B
3.3B
-752M
1.4B
3.8B
499M
886M
1.6B
2.1B
1.2B
1.2B
1.5B
1.2B
1.3B
221M
902M
-485M
57M
1.2B
1.3B

SEC Filings

LNC - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

June 01, 2026
May 28, 2026
2026
10-Q

10-Q 2026 Q1

Q1

May 07, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

May 07, 2026
May 07, 2026
2026
8-K

8-K 2026

N/A

April 16, 2026
April 16, 2026
2026
DEF 14A

DEF 14A 2026

N/A

April 16, 2026
May 28, 2026
2026
8-K

8-K 2026

N/A

March 31, 2026
March 27, 2026
2026
S-4

S-4

N/A

February 20, 2026
February 20, 2026
ย 
10-K

10-K 2025 FY

FY

February 19, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

February 12, 2026
February 12, 2026
2026
8-K

8-K 2025

N/A

November 10, 2025
November 10, 2025
2025
Showing 1 to 10 of 568 filings