Lincoln National Corp
Research Lincoln National Corp (LNC) on Bullrun: valuation model: 107.2% undervalued, market cap USD 8.16B, P/E 3.7, dividend yield 4.1%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerLNC
- ExchangeNYSE
- CountryUnited States
- SectorFinancial Services
- IndustryInsurance-Life
- CurrencyUSD
- Valuation signal107.2% undervalued
- Market capUSD 8.16B
- P/E3.7
- Dividend yield4.1%
- Financial periodQ2 2026
- RevenueUSD 4.57B
- Net incomeUSD 1.33B
- Free cash flow-USD 558.00M
Valuation Snapshot
Bullrun's latest valuation model marks Lincoln National Corp as 107.2% undervalued; latest market cap is USD 8.16B; P/E is 3.7; dividend yield is 4.1%.
Peer valuation comparison
Latest P/E is 3.69x versus a Financial Services sector median of 13.84x (73.4% below).
Latest dividend yield is 4.14% versus a Financial Services sector median of 3.86% (7.4% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 18.21B | USD 1.18B | -USD 167.00M | n/a | 5.83 | USD 9.50B | USD 6.27B | USD 10.91B |
| FY2024 | USD 18.44B | USD 3.28B | -USD 2.01B | n/a | 18.41 | USD 5.80B | USD 6.16B | USD 8.27B |
| FY2023 | USD 11.65B | -USD 752.00M | n/a | n/a | -4.92 | USD 3.37B | USD 5.95B | USD 6.89B |
| FY2022 | USD 18.81B | USD 1.36B | n/a | n/a | 7.78 | USD 3.34B | USD 6.83B | USD 5.10B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 8.16B | 3.7 | 4.2% | 1.8 |
| 2025 | 2025-12-31 | USD 8.46B | 8.4 | 4.0% | 1.8 |
| 2024 | 2024-12-31 | USD 5.40B | 1.7 | 5.7% | 1.8 |
| 2023 | 2023-12-29 | USD 4.58B | 3.8 | 6.7% | 1.8 |
| 2022 | 2022-12-30 | USD 5.20B | 7.8 | 5.9% | 1.8 |
| 2021 | 2021-12-31 | USD 12.10B | 9.2 | 2.5% | 1.68 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 1.8 USD, yield 4.1%.
| Year | Dividends/share |
|---|---|
| FY2025 | 1.8 USD |
| FY2024 | 1.8 USD |
| FY2023 | 1.8 USD |
| FY2022 | 1.8 USD |
About Lincoln National Corp
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.
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Frequently asked questions
Is Lincoln National Corp overvalued or undervalued?
Bullrun's valuation model currently marks Lincoln National Corp as 107.2% undervalued.
What is Lincoln National Corp's market cap?
Lincoln National Corp's market capitalization is USD 8.16B.
What is Lincoln National Corp's P/E ratio?
Lincoln National Corp's price-to-earnings (P/E) ratio is 3.7.
Does Lincoln National Corp pay a dividend?
Lincoln National Corp has a dividend yield of 4.1%.
What does Lincoln National Corp do?
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.