Lincoln National Corporation logo LNC - Lincoln National Corporation

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
1
BUY 10
HOLD 15
SELL 2
STRONG
SELL
0
| PRICE TARGET: $42.75 DETAILS
HIGH: $48.00
LOW: $39.00
MEDIAN: $42.00
CONSENSUS: $42.75
UPSIDE: 18.65%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 18,212 17,989 11,711 18,929 17,605 17,579 17,255 16,418 14,257 13,330 13,566 13,591 11,963 11,535 10,641 10,415 8,499 9,224 10,475 8,962 5,475 5,371.3 5,283.9 4,636 6,378 6,847.1 6,803.7 6,087.1 4,898.5 4,733.6 6,633.3 6,984.4 8,289.8
Cost of Revenue 7,769 13,393 11,661 16,495 13,705 14,120 13,150 11,722 9,824 9,514 9,829 9,279 8,081 7,744 7,307 7,275 8,093 8,699 8,281 6,960 4,313 4,235.2 4,141.2 4,537.2 4,270.0 5,875.7 6,100.0 5,272.6 4,771.1 4,144.8 5,934.2 6,558.5 2,029.3
Gross Profit 10,443 4,596 50 2,434 3,900 3,459 4,105 4,696 4,433 3,816 3,737 4,312 3,882 3,791 3,334 3,140 406 525 2,194 2,002 1,162 1,136.1 1,142.7 98.8 2,108.0 971.4 703.7 814.4 127.4 588.8 699.1 425.8 6,260.5
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 0 2,738 2,543 2,407 2,252 2,072 2,210 1,953 1,766 1,687 1,730 1,700 1,692 1,631 1,492 1,471 0 0 0 0 914.1 897.4 894.4 867.8 1,114.5 1,148 1,156.9 0 0 0 0 0 0
Other Expenses 9,105 (2,164) (1,345) (1,698) (2,995) 964 976 858 1,537 671 577 615 559 592 1,339 534 927 662 320 224 (827.1) (796.9) (799.3) (3,630.7) (3,250.7) (4,565.6) (1,023.2) 117.1 92.5 84.7 72.5 49.5 44.3
Operating Expenses 9,105 574 1,198 709 (743) 3,036 3,186 2,811 3,303 2,358 2,307 2,315 2,251 2,223 2,831 2,005 927 662 320 224 87 100.5 95.1 (2,762.9) (2,136.2) (3,417.6) 133.7 117.1 92.5 84.7 72.5 49.5 44.3
Operating Income
Operating Income 1,338 4,022 (1,148) 1,725 4,643 423 919 1,885 1,130 1,458 1,430 1,997 1,631 1,568 503 1,135 (521) (137) 1,874 1,778 1,075 1,035.7 1,047.6 2,861.7 4,244.2 4,389.0 570.0 697.4 34.9 504.1 626.6 376.3 6,216.2
Interest Expense 227 336 331 283 270 284 326 297 253 331 272 267 265 273 294 291 197 281 284 224 87 100.5 95.1 96.6 121.0 139.5 133.7 117.1 92.5 84.7 72.5 49.5 44.3
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 1,565 4,454 (773) 2,073 4,963 744 1,271 2,191 1,387 1,793 1,706 2,268 1,900 1,845 801 1,430 (400) 68 2,075 2,063 1,163 1,327.3 1,155.0 203.2 320.0 376.6 870.8 952.0 267.9 659.5 773.3 484.5 103.2
EBIT 1,565 4,358 (817) 2,008 4,913 707 1,245 2,182 1,383 1,789 1,702 2,264 1,896 1,841 797 1,426 (324) 144 2,158 2,002 1,162 1,136.1 1,142.7 96.6 121.0 139.5 703.7 814.4 127.4 588.8 699.1 425.8 44.3
Income Before Tax 1,338 4,022 (1,148) 1,725 4,643 423 919 1,885 1,130 1,458 1,430 1,997 1,631 1,568 503 1,135 (521) (137) 1,874 1,778 1,075 1,035.7 1,047.6 1.6 705.9 800.2 570.0 697.4 34.9 504.1 626.6 376.3 587.8
Income Tax Expense 161 747 (396) 367 865 (76) 33 244 (949) 266 276 483 387 282 274 262 (106) (127) 553 483 244 304.1 280.4 (90.0) 144.7 214.9 109.6 187.6 12.7 147.7 144.4 26.4 172.5
Net Income 1,177 3,275 (752) 1,358 3,778 499 886 1,641 2,079 1,192 1,154 1,515 1,244 1,313 221 902 (485) 57 1,215 1,316 831 707.0 511.9 91.6 545.6 585.3 460.4 509.8 934.0 513.6 482.2 349.9 318.9
Per Share Data
EPS (Basic) 5.95 18.66 -4.92 7.94 20.16 2.58 4.42 7.60 9.36 5.09 4.60 5.81 4.68 4.68 0.72 3.16 -1.73 0.22 4.50 5.21 4.80 4.01 2.89 0.48 2.89 3.06 2.33 2.54 4.56 2.48 2.32 1.69 1.55
EPS (Diluted) 5.84 18.41 -4.92 7.78 7.43 2.57 4.38 7.47 9.22 5.03 4.51 5.67 4.52 4.56 0.93 3.07 -1.70 0.22 4.43 5.13 4.72 3.95 2.85 0.48 2.85 3.03 2.30 2.51 4.49 2.44 2.32 1.69 1.55
Shares Outstanding 182.7 170.8 169.6 171.0 187.4 193.6 200.6 215.9 222.1 234.2 250.6 260.9 265.6 280.6 307.2 310.0 280.0 257.5 270.3 252.4 173.1 176.3 177.1 189.3 188.8 191.2 197.5 200.7 205.0 207.5 208.3 197.4 194.6
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 9,502 5,801 3,365 3,343 2,612 1,708 2,563 2,345 1,628 2,722 4,024.7 5,926.4 1,661.7 1,711.2 1,690.5 3,095.5 1,927.4 1,895.9 2,433.3 3,794.7 1,231.7 1,572.9 1,041.6 0
Short-Term Investments 36,893 20,916 88,738 99,736 118,746 123,044 105,200 94,024 95,086 89,488 1,057.2 1,624.2 386.8 374.2 378.1 507.4 463.3 401.8 432.0 464.8 459.7 371.8 175.1 0
Net Receivables 29,134 28,750 29,843 19,953 20,295 16,982 17,609 18,318 5,303 5,695 320.9 481 232.9 8,191.3 212.9 400.1 296.7 4,214.0 3,373.3 2,548.3 3,195.0 3,033.2 2,772.5 601.9
Inventory 0 0 0 (7,509) (7,413) 0 (6,987) 0 0 0 0.2 (1) 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 0 (121,946) 7,438 7,993 (141,734) 6,987 3,993 13,778 12,600 169,017 151,161 (2,405,161.2) (2,595,990.6) (2,676,488.2) 93,995.7 0 0 0 0 0 0 0 0
Total Current Assets 75,529 55,467 0 122,961 142,233 0 125,372 118,680 115,795 110,505 174,420 159,192 (2,402,879.7) (2,593,553.1) (2,674,206.6) 97,998.6 2,687.4 6,511.7 6,238.6 6,807.8 4,886.4 4,977.8 3,989.2 601.9
Non-Current Assets
Property, Plant & Equipment 0 0 0 154 147 0 233 (1,189) (1,072) (1,840) 0 0 207,118 235,181 242,135 0 0 0 0 0 0 0 0 233.5
Goodwill 1,144 1,144 1,144 1,144 1,778 1,778 1,778 1,782 1,368 2,273 3,013.5 0 1,195.9 1,234.7 1,233.2 1,211.8 1,286.0 1,423.0 1,484.3 457.7 449.5 471.5 145.7 0
Intangible Assets 12,827 977 0 904 560 0 633 771 152 148 0 3,944 1,116.1 1,230.4 1,292.0 1,412.6 1,557.0 1,746.5 1,848.4 613.9 708.4 528.9 0 228.5
Long-Term Investments 102,015 (11,239) 26,760 24,826 123,546 127,674 109,976 96,073 96,706 91,200 64,658.5 3,956.7 35,248.6 33,342.7 33,482.8 29,323.5 28,462.8 28,694.4 31,207.7 25,191.6 29,358.8 27,371.1 22,857.9 0
Other Non-Current Assets 225,689 344,482 344,509 303,277 (4,979) (129,452) (505) 81,612 67,894 57,649 (64,659) (3,956.8) 2,481,538.5 2,664,490.1 2,731,332.0 (31,945.2) (31,305.7) (31,863.9) (34,540.5) (26,263.3) (30,516.7) (28,371.5) (23,003.6) (462)
Total Non-Current Assets 341,675 335,364 372,413 334,331 125,324 0 111,754 179,467 165,968 151,122 3,013 3,944 2,519,099 2,700,298 2,767,340 2.7 31,305.7 31,863.9 34,540.5 26,263.3 30,516.7 28,371.5 23,003.6 462
Total Assets 417,204 390,831 372,413 334,217 387,301 365,948 334,761 298,147 281,763 261,627 177,433.3 163,135.8 116,219.3 106,744.9 93,133.4 98,001.3 99,844.1 103,095.7 93,836.3 77,174.7 71,713.4 63,257.7 49,330.1 48,380.4
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 0 1,261 0 0 0 0 0 0 0 0 0 0 0 0 0
Short-Term Debt 400 300 250 500 550 250 300 0 450 0 350 815 214.4 44.0 153.0 350.2 312.9 460.2 314.6 297.2 189.0 426.8 275.3 502.4
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 161,588 6,887 (8,355) (6,462) (9,196) (6,472) (5,082) (4,805) (4,867) (4,995) 157,165 145,907 (292.0) (44.0) (153.0) (350.2) (312.9) 96,569.8 86,472.3 70,581.0 65,951.5 57,665.7 (275.3) (502.4)
Total Current Liabilities 161,988 17,207 0 750 300 0 300 277,958 259,547 241,804 160,683 150,428 108,656 99,474 86,325 91,402 93,433 97,375 86,991 71,366 66,302 58,221 45,868 502.4
Non-Current Liabilities
Long-Term Debt 6,031 6,055 5,871 6,132 6,096 6,407 6,067 5,839 4,894 5,345 5,050 4,731 1,388.4 1,117.5 1,119.2 0.9 712.2 712.0 712.2 511.0 626.3 659.3 419.6 335.1
Deferred Tax Liabilities 0 0 0 (2,408) 7,072 0 (3,601) (2,347) (3,167) (4,303) (0.4) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 230,693 352,570 358,161 322,063 357,448 (6,407) 0 277,958 (4,895) (24) (5,050) 149,613 (2,301.4) (1,117.5) (1,119.2) (0.9) (712.2) (712.0) (712.2) (511.0) (626.3) (659.3) (419.6) (335.1)
Total Non-Current Liabilities 244,310 365,355 368,979 750 366,191 0 6,067 5,839 4,894 5,345 5,050 4,731 1,388 1,459 1,512 1,336 1,457 1,457 1,457 826 941 659 420 335.1
Total Liabilities 406,298 382,562 365,520 329,115 367,029 343,249 315,072 283,797 264,441 247,149 165,733.1 155,159 109,703.9 100,591.9 87,444.5 92,263.2 94,145.0 98,086.9 87,703.3 71,876.8 67,019.8 58,879.6 46,288 44,308.1
Stockholders' Equity
Common Stock 5,592 4,674 4,605 4,544 4,735 5,082 5,162 5,392 5,693 5,869 7,840 7,035.3 1,654.8 1,528.7 1,292.8 1,255.1 1,003.7 1,007.1 994.5 966.5 857.5 889.5 555.4 0
Retained Earnings 8,386 7,645 4,778 5,924 9,096 8,686 8,854 8,551 8,399 7,043 3,315 3,744.6 3,589.5 3,413.3 3,268.3 3,834.4 3,915.6 3,691.5 3,790.0 3,533.1 3,129.2 2,775.7 2,479.5 2,303.7
Accumulated Other Comprehensive Income (4,058) (5,036) (3,476) (6,352) 6,441 8,931 5,673 407 3,230 1,566 (261.4) 6.3 930.7 869.0 734.6 173.2 34.0 (435.6) 602.3 482.2 482.0 711.6 (304.2) (1.2)
Total Stockholders' Equity 10,906 8,269 6,893 5,102 20,272 22,699 19,689 14,350 17,322 14,478 11,700.2 7,976.8 6,175.6 5,811.6 5,296.3 5,263.5 4,954.1 4,263.9 5,387.9 4,982.9 4,470.0 4,378.1 3,042.1 4,072.3
Total Liabilities & Equity 417,204 390,831 372,413 334,217 387,301 365,948 334,761 298,147 281,763 261,627 177,433.3 163,135.8 116,219.3 106,744.9 93,133.4 98,001.3 99,844.1 103,095.7 93,836.3 77,174.7 71,713.4 63,257.7 49,330.1 48,380.4
Debt Metrics
Total Debt 6,431 6,355 6,121 6,632 6,625 6,657 6,367 5,839 5,344 5,345 5,400.3 5,545.7 1,602.9 1,161.5 1,272.3 1,212.0 1,025.2 1,172.1 1,026.8 808.2 815.3 1,086.2 694.9 837.5
Net Debt (3,071) 554 2,756 3,112 4,013 4,949 3,804 3,494 3,716 2,623 1,375.6 (380.7) (58.8) (549.7) (418.2) (1,883.5) (902.2) (723.8) (1,406.6) (2,986.5) (416.5) (486.7) (346.7) 837.5
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 1,177 3,275 (752) 1,358 3,778 499 886 1,641 2,079 1,192 831 (707.0) 511.9 91.6 590.2 621.4 460.4 509.8 22.2 513.6 482.2 349.9 415.3
Depreciation & Amortization 0 0 0 0 0 0 0 0 0 0 1 191.2 12.3 106.6 199.0 237.0 167.2 137.5 140.5 70.7 74.2 58.7 58.9
Stock-Based Compensation 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (2,044) (1,674) (3,365) 5,128 (583) (872) (2,066) 481 (2,564) (659) (421) (1,252.5) (1,306.4) 221,981.5 (80,614.9) (315,159.7) 1,971.2 (410.2) 2,359.5 2,544.4 2,756.1 (1,133.6) 347.4
Other Non-Cash Items 700 (3,608) 2,043 (2,877) (3,412) 907 (1,506) (179) 1,273 739 797 2,878.9 1,826.1 (221,690.1) 81,078.7 316,286.9 (266.1) 1,012.1 (1,410.5) (1,757.3) (1,392.3) 1,970.6 288
Operating Cash Flow (167) (2,007) (2,074) 3,609 (217) 534 (2,686) 1,943 788 1,272 1,208 1,110.6 1,044.0 489.6 1,253.0 1,985.6 2,332.6 1,249.2 1,111.7 1,371.4 1,920.3 1,186.0 1,013.1
Investing Activities
Capital Expenditure 0 0 0 0 0 0 0 (1,821) 0 0 0 0 0 (195) 0 0 0 (2,285.1) (11.8) 0 0 0 0
Acquisitions 0 619 0 0 0 0 0 (1,422) 0 0 14.2 173.6 0 (195) 2,036.2 85 (11.1) (2,285.1) 2,638.2 (71.6) 186.9 417.4 0
Purchases of Investments (25,593) (12,832) (11,761) (15,477) (17,672) (17,157) (15,759) (12,964) (10,505) (11,415) (6,878) (11,261.4) (15,315.2) (15,513.4) (12,946.5) (6,829.0) (8,962.1) (14,703.8) (12,869.1) (15,607.7) (17,138.0) (15,227.8) (17,147.7)
Sales/Maturities of Investments 21,464 11,759 9,794 8,196 12,266 6,951 13,509 9,850 7,682 8,561 7,548 11,442.4 15,427.5 12,704.7 10,372.2 7,616.7 8,302.3 13,132.3 13,642.7 15,304.2 16,408.7 13,214.7 14,677.5
Other Investing Activities 116 1,275 (1,367) (4,365) 1,822 725 (3,249) (1,279) (1,365) (812) (49) (1,408.0) (2,167.0) (65.6) (79.8) 34.1 22.2 4,447.9 365.4 (25.7) 589.0 72.2 176.4
Investing Cash Flow (4,013) 821 (3,334) (11,646) (3,584) (9,481) (5,499) (5,815) (4,188) (3,666) 635 (1,053.4) (2,054.7) (3,264.2) (617.8) 906.8 (1,139.1) (1,693.8) 3,765.3 (472.4) (1,427.4) (1,523.5) (2,293.8)
Financing Activities
Net Debt Issuance 188 145 (542) 112 100 255 460 645 62 (120) (143) 94.7 (168.8) (197.2) (222.3) (147.2) 145.1 216.6 (7.6) (270.9) 209.4 14.7 (182)
Stock Repurchased 0 0 0 (550) (1,105) (275) (550) (900) (725) (879) (194) (350.2) 0 (474.5) (503.8) (210.0) (377.7) (46.9) (327.6) (32.7) (24.1) (18.4) 0
Dividends Paid (416) (398) (387) (310) (319) (311) (303) (289) (262) (238) (255.1) (249.2) (240.3) (234.6) (230.1) (222.7) (218.4) (209.0) (201.9) (191.2) (178.8) (172.2) (156.2)
Other Financing Activities 7,284 3,875 6,359 8,530 6,029 8,423 8,796 5,133 3,231 3,207 (692) 316.0 1,427.9 2,268.9 1,669.2 (2,313.7) (1,327.9) (1,356.2) (1,723.1) (1,026.0) 7.7 815.3 970.5
Financing Cash Flow 7,881 3,622 5,430 8,768 4,705 8,092 8,403 4,589 2,306 1,970 (1,030.6) (106.6) 1,031.4 1,369.7 532.9 (2,860.9) (1,033.7) (916.7) (2,227.0) (1,172.6) 38.3 669.4 974.6
Cash Position
Net Change in Cash 3,701 2,436 22 731 904 (855) 218 717 (1,094) (424) 650.0 (49.5) 20.7 (1,404.9) 1,168.1 31.5 (537.5) (1,361.4) 2,649.9 (341.1) 531.3 331.9 (306.1)
Cash at Beginning 5,801 3,365 3,343 2,612 1,708 2,563 2,345 1,628 2,722 3,146 1,661.7 1,711.2 1,690.5 3,095.5 1,927.4 1,895.9 2,433.3 3,794.7 1,144.8 1,572.9 1,041.6 709.7 1,015.9
Cash at End 9,502 5,801 3,365 3,343 2,612 1,708 2,563 2,345 1,628 2,722 2,311.7 1,661.7 1,711.2 1,690.5 3,095.5 1,927.4 1,895.9 2,433.3 3,794.7 1,231.7 1,572.9 1,041.6 709.8
Free Cash Flow (167) (2,007) (2,074) 3,609 (217) 534 (2,686) 1,943 788 1,272 1,208 1,110.6 1,044.0 294.6 1,253.0 1,985.6 2,332.6 1,249.2 1,099.9 1,299.8 1,183.3 1,186.0 1,013.1
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 18,212 17,989 11,711 18,929 17,605 17,579 17,255 16,418 14,257 13,330 13,566 13,591 11,963 11,535 10,641 10,415 8,499 9,224 10,475 8,962 5,475 5,371.3 5,283.9 4,636 6,378 6,847.1 6,803.7 6,087.1 4,898.5 4,733.6 6,633.3 6,984.4 8,289.8
Gross Profit 10,443 4,596 50 2,434 3,900 3,459 4,105 4,696 4,433 3,816 3,737 4,312 3,882 3,791 3,334 3,140 406 525 2,194 2,002 1,162 1,136.1 1,142.7 98.8 2,108.0 971.4 703.7 814.4 127.4 588.8 699.1 425.8 6,260.5
Operating Income 1,338 4,022 (1,148) 1,725 4,643 423 919 1,885 1,130 1,458 1,430 1,997 1,631 1,568 503 1,135 (521) (137) 1,874 1,778 1,075 1,035.7 1,047.6 2,861.7 4,244.2 4,389.0 570.0 697.4 34.9 504.1 626.6 376.3 6,216.2
Net Income 1,177 3,275 (752) 1,358 3,778 499 886 1,641 2,079 1,192 1,154 1,515 1,244 1,313 221 902 (485) 57 1,215 1,316 831 707.0 511.9 91.6 545.6 585.3 460.4 509.8 934.0 513.6 482.2 349.9 318.9
EPS (Diluted) 5.84 18.41 -4.92 7.78 7.43 2.57 4.38 7.47 9.22 5.03 4.51 5.67 4.52 4.56 0.93 3.07 -1.70 0.22 4.43 5.13 4.72 3.95 2.85 0.48 2.85 3.03 2.30 2.51 4.49 2.44 2.32 1.69 1.55
Balance Sheet
Cash & Equivalents 9,502 5,801 3,365 3,343 2,612 1,708 2,563 2,345 1,628 2,722 4,024.7 5,926.4 1,661.7 1,711.2 1,690.5 3,095.5 1,927.4 1,895.9 2,433.3 3,794.7 1,231.7 1,572.9 1,041.6 0
Total Assets 417,204 390,831 372,413 334,217 387,301 365,948 334,761 298,147 281,763 261,627 177,433.3 163,135.8 116,219.3 106,744.9 93,133.4 98,001.3 99,844.1 103,095.7 93,836.3 77,174.7 71,713.4 63,257.7 49,330.1 48,380.4
Total Debt 6,431 6,355 6,121 6,632 6,625 6,657 6,367 5,839 5,344 5,345 5,400.3 5,545.7 1,602.9 1,161.5 1,272.3 1,212.0 1,025.2 1,172.1 1,026.8 808.2 815.3 1,086.2 694.9 837.5
Stockholders' Equity 10,906 8,269 6,893 5,102 20,272 22,699 19,689 14,350 17,322 14,478 11,700.2 7,976.8 6,175.6 5,811.6 5,296.3 5,263.5 4,954.1 4,263.9 5,387.9 4,982.9 4,470.0 4,378.1 3,042.1 4,072.3
Cash Flow
Operating Cash Flow (167) (2,007) (2,074) 3,609 (217) 534 (2,686) 1,943 788 1,272 1,208 1,110.6 1,044.0 489.6 1,253.0 1,985.6 2,332.6 1,249.2 1,111.7 1,371.4 1,920.3 1,186.0 1,013.1
Capital Expenditure 0 0 0 0 0 0 0 (1,821) 0 0 0 0 0 (195) 0 0 0 (2,285.1) (11.8) 0 0 0 0
Free Cash Flow (167) (2,007) (2,074) 3,609 (217) 534 (2,686) 1,943 788 1,272 1,208 1,110.6 1,044.0 294.6 1,253.0 1,985.6 2,332.6 1,249.2 1,099.9 1,299.8 1,183.3 1,186.0 1,013.1