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Lincoln National (LNC) Financials

Lincoln National logo
$30.26 +0.28 (+0.92%)
Closing price 03:59 PM Eastern
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$30.25 0.00 (-0.02%)
As of 07:45 PM Eastern
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Annual Income Statements for Lincoln National

Annual Income Statements for Lincoln National

This table shows Lincoln National's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 -1,097 1,913 2,079 1,641 886 3,757 3,778 1,358 -834 3,184
Consolidated Net Income / (Loss)		 1,154 1,192 2,079 1,641 886 499 3,778 1,358 -752 3,275
Net Income / (Loss) Continuing Operations		 1,154 1,192 2,079 1,641 886 499 3,778 1,358 -752 3,275
Total Pre-Tax Income 		1,430 1,458 1,130 1,885 919 423 4,643 1,725 -1,148 4,022
Total Revenue		 13,572 13,330 14,004 16,127 16,932 17,439 17,445 18,810 11,645 18,442
Net Interest Income / (Expense)		 0.00 0.00 -253 -297 -326 0.00 -270 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 253 297 326 0.00 270 0.00 0.00 0.00
Total Non-Interest Income		 13,572 13,330 14,257 16,424 17,258 17,439 17,715 18,810 11,645 18,442
Other Service Charges		 5,045 5,244 6,158 6,588 7,101 6,371 6,816 5,603 5,467 5,402
Net Realized & Unrealized Capital Gains on Investments		 4,750 4,608 4,843 5,235 4,644 5,038 5,282 6,355 1,568 5,794
Premiums Earned		 3,246 2,987 3,256 4,601 5,513 5,372 5,617 6,087 3,672 6,425
Other Non-Interest Income		 531 491 - - - 658 - 765 938 821
Total Non-Interest Expense		 12,142 11,872 12,874 14,242 16,013 17,016 12,802 17,085 12,793 14,420
Property & Liability Insurance Claims		 7,552 7,256 7,750 9,403 10,660 11,600 11,249 11,356 9,386 11,361
Insurance Policy Acquisition Costs		 - - - - - - - 2,766 -152 -190
Other Operating Expenses		 4,318 4,285 4,219 4,839 5,353 5,132 5,306 2,046 3,228 2,913
Impairment Charge		 54 102 905 - - 0.00 0.00 634 0.00 0.00
Other Special Charges		 272 331 - - - 284 -3,753 283 331 336
Income Tax Expense		 276 266 -949 244 33 -76 865 367 -396 747
Preferred Stock Dividends Declared		 - - - - - - - 0.00 82 91
Basic Earnings per Share		 $4.60 $5.09 $9.36 $7.60 $4.41 $2.58 $20.17 $7.93 ($4.92) $18.66
Weighted Average Basic Shares Outstanding		 250.63M 234.18M 222.13M 215.94M 195.37M 191.96M 172.45M 169.22M 169.67M 170.40M
Diluted Earnings per Share		 $4.51 $5.03 $9.22 $7.40 $4.38 $2.56 $19.96 $7.78 ($4.92) $18.41
Weighted Average Diluted Shares Outstanding		 250.63M 234.18M 222.13M 215.94M 195.37M 191.96M 172.45M 169.22M 169.67M 170.40M
Weighted Average Basic & Diluted Shares Outstanding		 250.63M 234.18M 222.13M 215.94M 195.37M 191.96M 172.45M 169.22M 169.67M 170.40M
Cash Dividends to Common per Share		 $0.85 $1.04 $1.20 $1.36 $1.51 $1.62 $1.71 $1.80 $1.80 $1.80

Quarterly Income Statements for Lincoln National

This table shows Lincoln National's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders		 -1,777 7,489 -909 502 819 -1,246 1,191 884 -562 1,671
Consolidated Net Income / (Loss)		 -1,776 812 -881 511 853 -1,235 1,222 895 -528 1,686
Net Income / (Loss) Continuing Operations		 -1,776 812 -881 511 853 -1,235 1,222 895 -528 1,686
Total Pre-Tax Income 		-2,126 984 -1,170 602 1,034 -1,614 1,528 1,096 -703 2,101
Total Revenue		 4,672 3,841 3,731 2,929 4,203 782 4,035 5,153 4,111 5,143
Net Interest Income / (Expense)		 0.00 - -83 0.00 0.00 83 -81 0.00 0.00 81
Total Interest Expense		 0.00 - 83 0.00 0.00 -83 81 0.00 0.00 -81
Total Non-Interest Income		 4,672 3,841 3,814 2,929 4,203 699 4,116 5,153 4,111 5,062
Other Service Charges		 1,381 1,355 1,588 1,365 1,363 1,151 1,615 1,339 1,352 1,096
Net Realized & Unrealized Capital Gains on Investments		 1,554 688 647 -267 1,041 147 900 1,983 980 1,931
Premiums Earned		 1,548 1,564 1,579 1,612 1,566 -1,085 1,601 1,625 1,614 1,585
Total Non-Interest Expense		 6,798 2,857 4,901 2,327 3,169 2,396 2,507 4,057 4,814 3,042
Property & Liability Insurance Claims		 2,875 2,964 2,958 3,000 2,983 445 2,813 2,861 2,817 2,870
Other Operating Expenses		 526 -133 1,324 -647 -57 2,608 1,601 1,215 1,961 -1,864
Other Special Charges		 71 78 619 84 84 -456 -1,907 86 86 2,071
Income Tax Expense		 -350 172 -289 91 181 -379 306 201 -175 415
Preferred Stock Dividends Declared		 0.00 - 25 11 34 12 34 11 34 12
Basic Earnings per Share		 ($10.46) $4.98 ($5.35) $2.95 $4.82 ($7.34) $6.98 $5.18 ($3.29) $9.79
Weighted Average Basic Shares Outstanding		 169.22M 169.22M 169.56M 169.64M 169.66M 169.67M 170.03M 170.20M 170.34M 170.40M
Diluted Earnings per Share		 ($10.47) $5.03 ($5.37) $2.94 $4.79 ($7.28) $6.93 $5.11 ($3.29) $9.66
Weighted Average Diluted Shares Outstanding		 169.22M 169.22M 169.56M 169.64M 169.66M 169.67M 170.03M 170.20M 170.34M 170.40M
Weighted Average Basic & Diluted Shares Outstanding		 169.22M 169.22M 169.56M 169.64M 169.66M 169.67M 170.03M 170.20M 170.34M 170.40M
Cash Dividends to Common per Share		 $0.45 $0.90 $0.45 $562.95 $1,719.20 ($2,280.80) $0.45 $562.95 $1,719.20 ($2,280.80)

Annual Cash Flow Statements for Lincoln National

This table details how cash moves in and out of Lincoln National's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 -773 -424 -1,094 717 218 -855 904 731 22 2,436
Net Cash From Operating Activities		 2,243 1,272 788 1,943 -2,686 534 -217 3,609 -2,074 -2,007
Net Cash From Continuing Operating Activities		 2,243 1,272 788 1,943 -2,686 534 -217 3,609 -2,074 -2,007
Net Income / (Loss) Continuing Operations		 1,154 1,192 2,079 1,641 886 499 3,778 1,358 -752 3,275
Consolidated Net Income / (Loss)		 1,154 1,192 2,079 1,641 886 499 3,778 1,358 -752 3,275
Amortization Expense		 -193 70 -7.00 -90 -440 7.00 -38 488 637 689
Non-Cash Adjustments to Reconcile Net Income		 406 812 1,296 -187 -1,475 948 -3,374 -2,877 2,043 -3,608
Changes in Operating Assets and Liabilities, net		 876 -802 -2,580 579 -1,657 -920 -583 4,640 -4,002 -2,363
Net Cash From Investing Activities		 -4,223 -3,666 -4,188 -5,815 -5,499 -9,481 -3,584 -11,646 -3,334 821
Net Cash From Continuing Investing Activities		 -4,223 -3,666 -4,188 -5,815 -5,499 -9,481 -3,584 -11,646 -3,334 821
Purchase of Investment Securities		 -9,753 -11,415 -13,105 -14,374 -15,727 -17,157 -17,672 -15,477 -11,761 -12,832
Divestitures		 75 0.00 - - - - - 0.00 0.00 619
Sale and/or Maturity of Investments		 7,414 9,904 8,917 11,691 14,490 9,476 17,167 6,338 10,373 17,180
Other Investing Activities, net		 -1,959 -2,155 - -3,120 -4,262 -1,800 -3,079 -2,507 -1,946 -4,146
Net Cash From Financing Activities		 1,207 1,970 2,306 4,589 8,403 8,092 4,705 8,768 5,430 3,622
Net Cash From Continuing Financing Activities		 1,207 1,970 2,306 4,589 8,403 8,092 4,705 8,768 5,430 3,622
Net Change in Deposits		 10,769 10,053 10,797 13,638 16,069 14,034 13,426 16,203 16,404 16,060
Issuance of Debt		 298 395 0.00 1,094 744 1,289 0.00 296 0.00 346
Issuance of Preferred Equity		 - - - - - 0.00 0.00 986 0.00 0.00
Issuance of Common Equity		 47 26 - - -20 -7.00 20 -16 -7.00 -5.00
Repayment of Debt		 -250 -659 0.00 -560 -350 -1,109 -8.00 -300 -500 -100
Repurchase of Common Equity		 -900 -879 -725 -906 -550 -275 -1,105 -550 0.00 0.00
Payment of Dividends		 -204 -238 -262 -289 -303 -311 -319 -310 -387 -398
Other Financing Activities, Net		 -8,553 -6,728 -7,504 -8,388 -7,187 -5,529 -7,309 -7,541 -10,080 -12,281

Quarterly Cash Flow Statements for Lincoln National

This table details how cash moves in and out of Lincoln National's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents		 -95 1,871 423 2.00 -1,239 836 757 1,353 538 -212
Net Cash From Operating Activities		 650 594 -774 522 46 -1,868 -1,343 -859 -27 222
Net Cash From Continuing Operating Activities		 650 594 -774 522 46 -1,868 -1,343 -859 -27 222
Net Income / (Loss) Continuing Operations		 -1,776 813 -881 511 853 -1,235 1,222 894 -528 1,687
Consolidated Net Income / (Loss)		 -1,776 813 -881 511 853 -1,235 1,222 894 -528 1,687
Amortization Expense		 -253 519 -9.00 -10 514 142 12 379 147 151
Non-Cash Adjustments to Reconcile Net Income		 -57 -788 1,710 -41 -902 1,276 -1,953 -891 1,057 -1,821
Changes in Operating Assets and Liabilities, net		 2,736 50 -1,594 62 -419 -2,051 -624 -1,241 -703 205
Net Cash From Investing Activities		 -3,115 -1,783 -325 -857 -1,438 -714 1,639 601 -702 -717
Net Cash From Continuing Investing Activities		 -3,115 -1,783 -325 -857 -1,438 -714 1,639 601 -702 -717
Purchase of Investment Securities		 -3,858 -2,985 -3,169 -2,476 -3,029 -3,087 -2,675 -2,988 -2,919 -4,250
Sale and/or Maturity of Investments		 1,301 1,785 3,113 2,069 2,249 2,942 4,885 4,529 3,185 4,581
Other Investing Activities, net		 -558 -583 -269 -450 -658 -569 -571 -1,561 -966 -1,048
Net Cash From Financing Activities		 2,370 3,060 1,522 337 153 3,418 461 1,611 1,267 283
Net Cash From Continuing Financing Activities		 2,370 3,060 1,522 337 153 3,418 461 1,611 1,267 283
Net Change in Deposits		 4,425 4,358 4,192 3,332 3,605 5,275 3,602 4,506 4,204 3,748
Issuance of Common Equity		 -1.00 -1.00 -4.00 -2.00 - -1.00 -5.00 -1.00 2.00 -1.00
Payment of Dividends		 -77 -76 -102 -87 -111 -87 -111 -88 -111 -88
Other Financing Activities, Net		 -1,926 -2,207 -2,564 -2,906 -2,841 -1,769 -3,325 -2,752 -2,828 -3,376

Annual Balance Sheets for Lincoln National

This table presents Lincoln National's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets		 251,908 261,627 281,763 298,147 334,761 365,948 386,945 334,331 372,413 390,831
Cash and Due from Banks		 3,146 2,722 1,628 2,345 2,563 1,708 2,612 3,343 3,365 5,801
Interest Bearing Deposits at Other Banks		 - - - - - - - 11,628 29,247 30,776
Trading Account Securities		 89,190 92,127 97,621 97,180 111,887 130,783 129,243 107,255 97,877 99,107
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 1,070 1,062 1,078 1,119 1,148 1,257 1,189 1,253 1,082 1,108
Mortgage Servicing Rights		 8,678 9,889 10,762 13,260 16,339 16,763 17,991 18,301 18,963 21,083
Deferred Acquisition Cost		 9,510 9,134 8,403 10,264 7,694 5,812 6,083 12,235 12,397 12,537
Separate Account Business Assets		 123,619 128,397 144,219 132,833 153,566 167,965 182,583 143,536 158,257 168,438
Goodwill		 2,273 2,273 1,368 1,782 1,778 1,778 1,778 1,144 1,144 1,144
Other Assets		 14,046 15,593 16,288 38,794 39,321 39,396 45,466 35,636 50,081 50,837
Total Liabilities & Shareholders' Equity		 251,908 261,627 281,763 298,147 334,761 365,948 386,945 334,331 372,413 390,831
Total Liabilities		 238,291 247,149 264,441 283,797 315,072 343,249 366,191 329,229 365,520 382,562
Short-Term Debt		 - 0.00 450 0.00 300 0.00 300 500 250 300
Long-Term Debt		 10,210 10,340 9,311 10,644 11,149 12,904 15,271 12,667 13,804 15,876
Future Policy Benefits		 20,708 21,576 22,887 34,648 36,420 40,814 41,030 38,826 39,864 39,807
Participating Policy Holder Equity		 77,362 78,903 80,209 91,233 98,018 105,405 111,710 114,435 120,737 126,197
Separate Account Business Liabilities		 123,619 128,397 144,219 132,833 153,566 167,965 182,583 143,536 158,257 168,438
Other Long-Term Liabilities		 6,392 7,933 7,365 14,439 15,619 16,161 15,297 19,265 32,608 31,944
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 13,617 14,478 17,322 14,350 19,689 22,699 20,754 5,102 6,893 8,269
Total Preferred & Common Equity		 13,617 14,478 17,322 14,350 19,689 22,699 20,754 5,102 6,893 8,269
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 986 986 986
Total Common Equity		 13,617 14,478 17,322 14,350 19,689 22,699 20,754 4,116 5,907 7,283
Common Stock		 6,298 5,869 5,693 5,392 5,162 5,082 4,735 4,544 4,605 4,674
Retained Earnings		 6,474 7,043 8,399 8,551 8,854 8,686 9,578 5,924 4,778 7,645
Accumulated Other Comprehensive Income / (Loss)		 845 1,566 3,230 407 5,673 8,931 6,441 -6,352 -3,476 -5,036

Quarterly Balance Sheets for Lincoln National

This table presents Lincoln National's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets		 324,683 343,142 348,612 338,411 383,381 384,533 396,840
Cash and Due from Banks		 1,472 3,766 3,768 2,529 4,122 5,475 6,013
Interest Bearing Deposits at Other Banks		 - - - - 28,904 29,888 30,501
Trading Account Securities		 105,260 109,621 109,391 106,765 98,704 98,278 102,703
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 1,283 1,277 1,277 1,372 1,127 1,135 1,160
Mortgage Servicing Rights		 18,066 18,327 18,460 18,751 19,266 20,152 20,856
Deferred Acquisition Cost		 13,676 12,277 12,316 12,341 12,405 12,435 12,475
Separate Account Business Assets		 137,295 148,421 153,246 145,810 166,225 165,199 171,483
Goodwill		 1,144 1,144 1,144 1,144 1,144 1,144 1,144
Other Assets		 45,904 48,309 49,010 49,699 51,484 50,827 50,505
Total Liabilities & Shareholders' Equity		 324,683 343,142 348,612 338,411 383,381 384,533 396,840
Total Liabilities		 322,466 336,410 342,793 335,212 375,835 376,584 387,827
Short-Term Debt		 500 500 500 0.00 503 450 300
Long-Term Debt		 12,824 12,777 13,016 13,951 15,843 16,830 16,467
Future Policy Benefits		 41,716 39,757 39,711 39,362 38,848 38,560 41,169
Participating Policy Holder Equity		 118,174 116,167 117,598 117,210 122,300 124,113 125,968
Separate Account Business Liabilities		 137,295 148,421 153,246 145,810 166,225 165,199 171,483
Other Long-Term Liabilities		 11,957 18,788 18,722 18,879 32,116 31,432 32,440
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,217 6,732 5,819 3,199 7,546 7,949 9,013
Total Preferred & Common Equity		 2,217 6,732 5,819 3,199 7,546 7,949 9,013
Preferred Stock		 0.00 986 986 986 986 986 986
Total Common Equity		 2,217 5,746 4,833 2,213 6,560 6,963 8,027
Common Stock		 4,534 4,560 4,575 4,591 4,624 4,641 4,660
Retained Earnings		 6,311 4,940 5,362 6,102 5,887 6,691 6,049
Accumulated Other Comprehensive Income / (Loss)		 -8,628 -3,754 -5,104 -8,480 -3,951 -4,369 -2,682

Annual Metrics and Ratios for Lincoln National

This table displays calculated financial ratios and metrics derived from Lincoln National's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.13% -1.78% 5.06% 15.16% 4.99% 2.99% 0.03% 7.82% -38.09% 58.37%
EBITDA Growth		 -12.02% 23.52% -26.51% 59.84% -73.31% -10.23% 970.93% -51.94% -123.09% 1,021.92%
EBIT Growth		 -28.39% 1.96% -22.50% 66.81% -51.25% -53.97% 997.64% -62.85% -166.55% 450.35%
NOPAT Growth		 -23.78% 3.29% 74.41% -21.07% -46.01% -43.68% 657.11% -64.06% -159.18% 507.54%
Net Income Growth		 -23.83% 3.29% 74.41% -21.07% -46.01% -43.68% 657.11% -64.06% -155.38% 535.51%
EPS Growth		 -20.46% 11.53% 83.30% -19.74% -40.81% -41.55% 679.69% -61.02% -163.24% 474.19%
Operating Cash Flow Growth		 -11.20% -43.29% -38.05% 146.57% -238.24% 119.88% -140.64% 1,763.13% -157.47% 3.23%
Free Cash Flow Firm Growth		 282.24% -93.29% -192.54% 2,105.38% -240.97% 24.57% 177.06% 535.27% -117.93% 93.59%
Invested Capital Growth		 -7.18% 4.16% 9.13% -7.71% 24.58% 14.34% 2.03% -49.71% 14.66% 16.70%
Revenue Q/Q Growth		 -3.65% 0.63% 1.16% 6.94% -1.10% 0.47% -7.77% 5.36% -19.25% 34.12%
EBITDA Q/Q Growth		 1.89% -7.62% -32.88% 65.59% 2.79% -31.64% 142.11% -37.26% -126.42% 1,409.94%
EBIT Q/Q Growth		 -5.36% -9.55% -34.11% 84.44% 0.99% -48.23% 198.20% -55.96% -179.17% 1,210.10%
NOPAT Q/Q Growth		 -5.33% -7.31% 43.08% -20.22% 3.87% -36.68% 184.49% -56.74% -162.05% 825.14%
Net Income Q/Q Growth		 -5.41% -7.31% 43.08% -20.22% 3.87% -36.68% 184.49% -56.74% -158.07% 825.14%
EPS Q/Q Growth		 -4.04% -5.45% 43.61% -19.83% 9.50% -33.85% 182.32% -52.93% -166.58% 1,152.38%
Operating Cash Flow Q/Q Growth		 -23.13% -11.42% -34.39% 60.18% -37.89% 4.30% -172.09% 34.16% -634.54% 51.01%
Free Cash Flow Firm Q/Q Growth		 355.32% 118.34% -107.43% 3.52% 11.75% -97.02% 2,193.15% -18.33% -1,008.79% 97.31%
Invested Capital Q/Q Growth		 -5.83% -10.35% 1.69% -0.37% -2.38% 2.61% 0.42% 17.55% 22.14% -5.18%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 9.11% 11.46% 8.02% 11.13% 2.83% 2.47% 26.40% 11.77% -4.39% 25.55%
EBIT Margin		 10.54% 10.94% 8.07% 11.69% 5.43% 2.43% 26.62% 9.17% -9.86% 21.81%
Profit (Net Income) Margin		 8.50% 8.94% 14.85% 10.18% 5.23% 2.86% 21.66% 7.22% -6.46% 17.76%
Tax Burden Percent		 80.70% 81.76% 183.98% 87.06% 96.41% 117.97% 81.37% 78.72% 65.51% 81.43%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 19.30% 18.24% -83.98% 12.94% 3.59% -17.97% 18.63% 21.28% 0.00% 18.57%
Return on Invested Capital (ROIC)		 4.66% 4.90% 8.01% 6.30% 3.16% 1.50% 10.50% 4.97% -4.10% 14.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.66% 4.90% 8.01% 6.30% 3.16% 1.50% 10.50% 4.97% -3.72% 14.43%
Return on Net Nonoperating Assets (RNNOA)		 3.20% 3.58% 5.06% 4.06% 2.05% 0.86% 6.88% 5.53% -8.44% 28.77%
Return on Equity (ROE)		 7.86% 8.49% 13.08% 10.36% 5.21% 2.35% 17.39% 10.50% -12.54% 43.20%
Cash Return on Invested Capital (CROIC)		 12.11% 0.83% -0.72% 14.32% -18.73% -11.88% 8.50% 71.12% -17.76% -0.98%
Operating Return on Assets (OROA)		 0.57% 0.57% 0.42% 0.65% 0.29% 0.12% 1.23% 0.48% -0.32% 1.05%
Return on Assets (ROA)		 0.46% 0.46% 0.77% 0.57% 0.28% 0.14% 1.00% 0.38% -0.21% 0.86%
Return on Common Equity (ROCE)		 7.86% 8.49% 13.08% 10.36% 5.21% 2.35% 17.39% 10.10% -10.48% 37.58%
Return on Equity Simple (ROE_SIMPLE)		 8.47% 8.23% 12.00% 11.44% 4.50% 2.20% 18.20% 26.62% -10.91% 39.61%
Net Operating Profit after Tax (NOPAT)		 1,154 1,192 2,079 1,641 886 499 3,778 1,358 -804 3,275
NOPAT Margin		 8.50% 8.94% 14.85% 10.18% 5.23% 2.86% 21.66% 7.22% -6.90% 17.76%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.38% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 89.46% 89.06% 91.93% 88.31% 94.57% 97.57% 73.38% 90.83% 109.86% 78.19%
Earnings before Interest and Taxes (EBIT)		 1,430 1,458 1,130 1,885 919 423 4,643 1,725 -1,148 4,022
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,237 1,528 1,123 1,795 479 430 4,605 2,213 -511 4,711
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.67 0.79 0.75 0.60 0.48 0.36 0.51 1.09 0.72 0.73
Price to Tangible Book Value (P/TBV)		 0.81 0.94 0.81 0.68 0.52 0.39 0.56 1.51 0.89 0.87
Price to Revenue (P/Rev)		 0.68 0.86 0.92 0.53 0.55 0.47 0.61 0.24 0.36 0.29
Price to Earnings (P/E)		 0.00 5.98 6.21 5.23 10.60 2.17 2.81 3.30 0.00 1.67
Dividend Yield		 2.70% 2.00% 1.97% 3.29% 3.13% 3.80% 2.86% 6.79% 7.19% 5.76%
Earnings Yield		 0.00% 16.73% 16.10% 19.14% 9.43% 46.17% 35.60% 30.26% 0.00% 59.80%
Enterprise Value to Invested Capital (EV/IC)		 0.68 0.77 0.78 0.68 0.59 0.54 0.65 0.20 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.20 1.43 1.50 1.05 1.08 1.11 1.35 0.20 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 13.12 12.47 18.74 9.40 38.16 44.96 5.12 1.66 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 11.35 13.07 18.63 8.95 19.89 45.70 5.08 2.13 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 14.07 15.98 10.12 10.28 20.63 38.74 6.24 2.70 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.24 14.98 26.71 8.68 0.00 36.20 0.00 1.02 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.42 94.78 0.00 4.52 0.00 0.00 7.71 0.19 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.75 0.71 0.56 0.74 0.58 0.57 0.75 2.58 2.04 1.96
Long-Term Debt to Equity		 0.75 0.71 0.54 0.74 0.57 0.57 0.74 2.48 2.00 1.92
Financial Leverage		 0.69 0.73 0.63 0.64 0.65 0.57 0.66 1.11 2.27 1.99
Leverage Ratio		 17.21 18.28 17.09 18.31 18.59 16.53 17.33 27.90 58.92 50.34
Compound Leverage Factor		 17.21 18.28 17.09 18.31 18.59 16.53 17.33 27.90 58.92 50.34
Debt to Total Capital		 42.85% 41.66% 36.04% 42.59% 36.77% 36.24% 42.87% 72.07% 67.09% 66.17%
Short-Term Debt to Total Capital		 0.00% 0.00% 1.66% 0.00% 0.96% 0.00% 0.83% 2.74% 1.19% 1.23%
Long-Term Debt to Total Capital		 42.85% 41.66% 34.38% 42.59% 35.81% 36.24% 42.04% 69.34% 65.90% 64.95%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.40% 4.71% 4.03%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 57.15% 58.34% 63.96% 57.41% 63.23% 63.76% 57.13% 22.53% 28.20% 29.79%
Debt to EBITDA		 8.25 6.77 8.69 5.93 23.90 30.01 3.38 5.95 -27.50 3.43
Net Debt to EBITDA		 5.71 4.99 7.24 4.62 18.55 26.04 2.81 -0.82 36.32 -4.33
Long-Term Debt to EBITDA		 8.25 6.77 8.29 5.93 23.28 30.01 3.32 5.72 -27.01 3.37
Debt to NOPAT		 8.85 8.67 4.70 6.49 12.92 25.86 4.12 9.70 -17.49 4.94
Net Debt to NOPAT		 6.12 6.39 3.91 5.06 10.03 22.44 3.43 -1.33 23.09 -6.23
Long-Term Debt to NOPAT		 8.85 8.67 4.48 6.49 12.58 25.86 4.04 9.33 -17.18 4.85
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.81% 16.44% 13.01%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,996 201 -186 3,730 -5,258 -3,966 3,056 19,414 -3,482 -223
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -0.74 12.56 -16.13 0.00 11.32 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 3.11 6.54 -8.24 0.00 -0.80 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 3.11 6.54 -8.24 0.00 -0.80 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.06 0.05 0.05 0.05 0.05 0.03 0.05
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 23,827 24,818 27,083 24,994 31,138 35,603 36,325 18,269 20,947 24,445
Invested Capital Turnover		 0.55 0.55 0.54 0.62 0.60 0.52 0.49 0.69 0.59 0.81
Increase / (Decrease) in Invested Capital		 -1,842 991 2,265 -2,089 6,144 4,465 722 -18,056 2,678 3,498
Enterprise Value (EV)		 16,232 19,051 21,047 16,874 18,277 19,333 23,572 3,670 -13,322 -14,091
Market Capitalization		 9,168 11,433 12,914 8,575 9,391 8,137 10,613 4,488 4,250 5,324
Book Value per Share		 $55.02 $63.34 $79.16 $67.18 $99.27 $117.45 $114.85 $24.32 $34.82 $42.75
Tangible Book Value per Share		 $45.84 $53.40 $72.91 $58.84 $90.31 $108.25 $105.01 $17.56 $28.07 $36.04
Total Capital		 23,827 24,818 27,083 24,994 31,138 35,603 36,325 18,269 20,947 24,445
Total Debt		 10,210 10,340 9,761 10,644 11,449 12,904 15,571 13,167 14,054 16,176
Total Long-Term Debt		 10,210 10,340 9,311 10,644 11,149 12,904 15,271 12,667 13,804 15,876
Net Debt		 7,064 7,618 8,133 8,299 8,886 11,196 12,959 -1,804 -18,558 -20,401
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -52 0.00
Net Nonoperating Obligations (NNO)		 10,210 10,340 9,761 10,644 11,449 12,904 15,571 13,167 14,054 16,176
Total Depreciation and Amortization (D&A)		 -193 70 -7.00 -90 -440 7.00 -38 488 637 689
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.60 $5.09 $9.36 $7.60 $4.41 $2.58 $7.50 ($13.02) ($4.92) $18.66
Adjusted Weighted Average Basic Shares Outstanding		 240.96M 225.21M 218.26M 204.29M 195.37M 191.96M 172.45M 169.22M 169.67M 170.40M
Adjusted Diluted Earnings per Share		 $4.51 $5.03 $9.22 $7.40 $4.38 $2.56 $7.43 ($13.10) ($4.92) $18.41
Adjusted Weighted Average Diluted Shares Outstanding		 240.96M 225.21M 218.26M 204.29M 195.37M 191.96M 172.45M 169.22M 169.67M 170.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $4.41 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 240.96M 225.21M 218.26M 204.29M 195.37M 191.96M 172.45M 169.22M 169.67M 170.40M
Normalized Net Operating Profit after Tax (NOPAT)		 1,417 1,546 1,425 1,641 886 495 724 2,080 -572 3,549
Normalized NOPAT Margin		 10.44% 11.60% 10.17% 10.18% 5.23% 2.84% 4.15% 11.06% -4.91% 19.24%
Pre Tax Income Margin		 10.54% 10.94% 8.07% 11.69% 5.43% 2.43% 26.62% 9.17% -9.86% 21.81%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 4.47 6.35 2.82 0.00 17.20 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 8.22 5.53 2.72 0.00 13.99 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 4.47 6.35 2.82 0.00 17.20 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 8.22 5.53 2.72 0.00 13.99 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 17.68% 19.97% 12.60% 17.61% 34.20% 62.32% 8.44% 22.83% -51.46% 12.15%
Augmented Payout Ratio		 95.67% 93.71% 47.47% 72.82% 96.28% 117.43% 37.69% 63.33% -51.46% 12.15%

Quarterly Metrics and Ratios for Lincoln National

This table displays calculated financial ratios and metrics derived from Lincoln National's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -10.86% 33.18% -20.95% -47.48% -10.04% -79.64% 8.15% 75.93% -2.19% 557.67%
EBITDA Growth		 -502.54% -46.65% -164.64% -53.20% 165.07% -197.94% 230.62% 149.16% -135.92% 252.99%
EBIT Growth		 -677.72% -69.02% -163.76% -41.67% 148.64% -264.02% 230.60% 82.06% -167.99% 230.17%
NOPAT Growth		 -567.99% -68.68% -155.26% -39.17% 157.32% -239.14% 249.21% 75.15% -157.69% 249.23%
Net Income Growth		 -658.49% -68.68% -159.45% -39.17% 148.03% -252.09% 238.71% 75.15% -161.90% 236.52%
EPS Growth		 -723.21% -63.50% -164.00% -39.13% 145.75% -244.73% 229.05% 73.81% -168.68% 232.69%
Operating Cash Flow Growth		 91.74% 282.77% -262.61% -72.37% -92.92% -414.48% -73.51% -264.56% -158.70% 111.88%
Free Cash Flow Firm Growth		 1,755.95% 908.44% 85.00% -69.13% -103.95% -120.18% -128.39% -213.98% -1,106.63% 52.41%
Invested Capital Growth		 -57.04% -49.71% -33.75% -16.70% 10.35% 14.66% 19.41% 30.48% 50.32% 16.70%
Revenue Q/Q Growth		 -16.23% -17.79% 4.86% -21.50% 43.50% -81.39% 794.68% 27.71% -20.22% 25.10%
EBITDA Q/Q Growth		 -288.06% 163.18% -221.17% 150.21% 161.49% -195.09% 195.18% -4.22% -137.69% 505.04%
EBIT Q/Q Growth		 -306.01% 146.28% -218.90% 151.45% 71.76% -256.09% 194.67% -28.27% -164.14% 398.86%
NOPAT Q/Q Growth		 -277.17% 154.56% -200.86% 162.39% 66.93% -232.45% 208.16% -26.76% -154.98% 442.61%
Net Income Q/Q Growth		 -311.43% 145.72% -208.50% 158.00% 66.93% -244.78% 198.95% -26.76% -158.99% 419.32%
EPS Q/Q Growth		 -316.77% 148.04% -206.76% 154.75% 62.93% -251.98% 195.19% -26.26% -164.38% 393.62%
Operating Cash Flow Q/Q Growth		 -65.59% -8.62% -230.30% 167.44% -91.19% -4,160.87% 28.10% 36.04% 96.86% 922.22%
Free Cash Flow Firm Q/Q Growth		 34.73% -1.44% -50.33% -53.20% -117.24% -403.68% 30.12% -87.86% -82.48% 80.14%
Invested Capital Q/Q Growth		 -33.04% 17.55% 9.52% -3.37% -11.30% 22.14% 14.06% 5.60% 2.18% -5.18%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 -50.92% 39.13% -31.60% 20.21% 36.83% -188.24% 38.17% 28.62% -13.52% 43.79%
EBIT Margin		 -45.51% 25.62% -31.36% 20.55% 24.60% -206.39% 37.87% 21.27% -17.10% 40.85%
Profit (Net Income) Margin		 -38.01% 21.14% -23.61% 17.45% 20.30% -157.93% 30.29% 17.37% -12.84% 32.78%
Tax Burden Percent		 83.54% 82.52% 75.30% 84.88% 82.50% 76.52% 79.97% 81.66% 75.11% 80.25%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 17.48% 0.00% 15.12% 17.50% 0.00% 20.03% 18.34% 0.00% 19.75%
Return on Invested Capital (ROIC)		 -21.99% 14.57% -15.34% 12.21% 17.91% -85.80% 16.03% 10.79% -7.67% 26.64%
ROIC Less NNEP Spread (ROIC-NNEP)		 -24.03% 14.57% -15.77% 12.21% 17.91% -86.58% 16.03% 10.79% -7.90% 26.64%
Return on Net Nonoperating Assets (RNNOA)		 -29.10% 16.19% -21.15% 22.41% 90.17% -196.47% 33.26% 24.13% -19.88% 53.11%
Return on Equity (ROE)		 -51.09% 30.76% -36.48% 34.62% 108.08% -282.27% 49.29% 34.92% -27.54% 79.75%
Cash Return on Invested Capital (CROIC)		 91.93% 71.12% 37.03% 12.59% -1.92% -17.76% -11.54% -18.67% -38.56% -0.98%
Operating Return on Assets (OROA)		 -2.32% 1.34% -1.55% 0.89% 1.07% -6.80% 1.21% 0.80% -0.64% 1.97%
Return on Assets (ROA)		 -1.93% 1.10% -1.17% 0.76% 0.88% -5.20% 0.97% 0.66% -0.48% 1.58%
Return on Common Equity (ROCE)		 -51.09% 29.59% -34.81% 32.35% 88.40% -235.87% 42.48% 29.92% -23.10% 69.38%
Return on Equity Simple (ROE_SIMPLE)		 141.59% 0.00% -14.93% -22.92% 40.48% 0.00% 17.90% 21.83% 3.93% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1,488 812 -819 511 853 -1,130 1,222 895 -492 1,686
NOPAT Margin		 -31.85% 21.14% -21.95% 17.45% 20.30% -144.48% 30.29% 17.37% -11.97% 32.78%
Net Nonoperating Expense Percent (NNEP)		 2.03% 0.00% 0.43% 0.00% 0.00% 0.77% 0.00% 0.00% 0.23% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 145.51% 74.38% 131.36% 79.45% 75.40% 306.39% 62.13% 78.73% 117.10% 59.15%
Earnings before Interest and Taxes (EBIT)		 -2,126 984 -1,170 602 1,034 -1,614 1,528 1,096 -703 2,101
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2,379 1,503 -1,179 592 1,548 -1,472 1,540 1,475 -556 2,252
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.97 1.09 0.60 0.83 1.75 0.72 0.80 0.75 0.66 0.73
Price to Tangible Book Value (P/TBV)		 6.13 1.51 0.74 1.09 3.62 0.89 0.97 0.90 0.77 0.87
Price to Revenue (P/Rev)		 0.37 0.24 0.20 0.27 0.27 0.36 0.45 0.38 0.38 0.29
Price to Earnings (P/E)		 0.00 3.30 0.61 0.76 0.49 0.00 3.90 3.01 15.15 1.67
Dividend Yield		 4.58% 6.79% 8.89% 7.59% 7.89% 7.19% 5.81% 5.87% 5.79% 5.76%
Earnings Yield		 0.00% 30.26% 164.49% 131.91% 204.16% 0.00% 25.63% 33.20% 6.60% 59.80%
Enterprise Value to Invested Capital (EV/IC)		 1.19 0.20 0.70 0.76 0.95 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.03 0.20 0.79 0.99 1.13 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 5.23 1.66 0.00 0.00 8.42 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 4.71 2.13 0.00 0.00 11.23 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 5.87 2.70 0.00 0.00 12.57 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.85 1.02 5.90 14.87 41.95 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.78 0.19 1.50 5.51 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 6.01 2.58 1.97 2.32 4.36 2.04 2.17 2.17 1.86 1.96
Long-Term Debt to Equity		 5.78 2.48 1.90 2.24 4.36 2.00 2.10 2.12 1.83 1.92
Financial Leverage		 1.21 1.11 1.34 1.84 5.04 2.27 2.07 2.24 2.52 1.99
Leverage Ratio		 30.01 27.90 33.07 45.60 122.43 58.92 50.88 53.25 60.21 50.34
Compound Leverage Factor		 30.01 27.90 33.07 45.60 122.43 58.92 50.88 53.25 60.21 50.34
Debt to Total Capital		 85.73% 72.07% 66.36% 69.90% 81.35% 67.09% 68.42% 68.49% 65.04% 66.17%
Short-Term Debt to Total Capital		 3.22% 2.74% 2.50% 2.59% 0.00% 1.19% 2.11% 1.78% 1.16% 1.23%
Long-Term Debt to Total Capital		 82.52% 69.34% 63.86% 67.32% 81.35% 65.90% 66.31% 66.71% 63.88% 64.95%
Preferred Equity to Total Capital		 0.00% 5.40% 4.93% 5.10% 5.75% 4.71% 4.13% 3.91% 3.82% 4.03%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 14.27% 22.53% 28.72% 25.00% 12.90% 28.20% 27.46% 27.60% 31.14% 29.79%
Debt to EBITDA		 3.78 5.95 -10.06 -6.78 7.21 -27.50 10.66 7.15 53.74 3.43
Net Debt to EBITDA		 3.36 -0.82 -7.21 -4.89 5.91 36.32 -10.88 -7.48 -63.29 -4.33
Long-Term Debt to EBITDA		 3.64 5.72 -9.68 -6.53 7.21 -27.01 10.33 6.97 52.78 3.37
Debt to NOPAT		 4.24 9.70 -14.82 -11.29 10.77 -17.49 12.10 9.96 47.36 4.94
Net Debt to NOPAT		 3.78 -1.33 -10.62 -8.14 8.82 23.09 -12.35 -10.42 -55.78 -6.23
Long-Term Debt to NOPAT		 4.09 9.33 -14.26 -10.87 10.77 -17.18 11.73 9.70 46.52 4.85
Noncontrolling Interest Sharing Ratio		 0.00% 3.81% 4.60% 6.57% 18.21% 16.44% 13.81% 14.32% 16.15% 13.01%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 19,143 18,868 9,372 4,386 -756 -3,808 -2,661 -4,999 -9,122 -1,812
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 112.92 0.00 0.00 0.00 -32.85 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 -9.33 0.00 0.00 0.00 -16.58 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -9.33 0.00 0.00 0.00 -16.58 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.04 0.04 0.03 0.03 0.04 0.04 0.05
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 15,541 18,269 20,009 19,335 17,150 20,947 23,892 25,229 25,780 24,445
Invested Capital Turnover		 0.69 0.69 0.70 0.70 0.88 0.59 0.53 0.62 0.64 0.81
Increase / (Decrease) in Invested Capital		 -20,631 -18,056 -10,191 -3,875 1,609 2,678 3,883 5,894 8,630 3,498
Enterprise Value (EV)		 18,431 3,670 13,923 14,756 16,278 -13,322 -10,434 -11,886 -13,474 -14,091
Market Capitalization		 6,579 4,488 3,426 4,022 3,870 4,250 5,260 5,211 5,287 5,324
Book Value per Share		 $13.02 $24.32 $33.96 $28.50 $13.05 $34.82 $38.58 $40.95 $47.16 $42.75
Tangible Book Value per Share		 $6.30 $17.56 $27.20 $21.76 $6.30 $28.07 $31.85 $34.22 $40.44 $36.04
Total Capital		 15,541 18,269 20,009 19,335 17,150 20,947 23,892 25,229 25,780 24,445
Total Debt		 13,324 13,167 13,277 13,516 13,951 14,054 16,346 17,280 16,767 16,176
Total Long-Term Debt		 12,824 12,667 12,777 13,016 13,951 13,804 15,843 16,830 16,467 15,876
Net Debt		 11,852 -1,804 9,511 9,748 11,422 -18,558 -16,680 -18,083 -19,747 -20,401
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 288 0.00 62 0.00 0.00 105 0.00 0.00 36 0.00
Net Nonoperating Obligations (NNO)		 13,324 13,167 13,277 13,516 13,951 14,054 16,346 17,280 16,767 16,176
Total Depreciation and Amortization (D&A)		 -253 519 -9.00 -10 514 142 12 379 147 151
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($15.17) $4.98 ($5.35) $2.95 $4.82 ($7.34) $6.98 $5.18 ($3.29) $9.79
Adjusted Weighted Average Basic Shares Outstanding		 169.22M 169.22M 169.56M 169.64M 169.66M 169.67M 170.03M 170.20M 170.34M 170.40M
Adjusted Diluted Earnings per Share		 ($15.17) $5.03 ($5.37) $2.94 $4.79 ($7.28) $6.93 $5.11 ($3.29) $9.66
Adjusted Weighted Average Diluted Shares Outstanding		 169.22M 169.22M 169.56M 169.64M 169.66M 169.67M 170.03M 170.20M 170.34M 170.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 169.22M 169.22M 169.56M 169.64M 169.66M 169.67M 170.03M 170.20M 170.34M 170.40M
Normalized Net Operating Profit after Tax (NOPAT)		 -995 876 -386 582 922 -1,449 -303 965 -432 3,348
Normalized NOPAT Margin		 -21.29% 22.82% -10.34% 19.88% 21.94% -185.29% -7.51% 18.73% -10.51% 65.10%
Pre Tax Income Margin		 -45.51% 25.62% -31.36% 20.55% 24.60% -206.39% 37.87% 21.27% -17.10% 40.85%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -14.10 0.00 0.00 0.00 18.86 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 -9.87 0.00 0.00 0.00 15.09 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 -14.10 0.00 0.00 0.00 18.86 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -9.87 0.00 0.00 0.00 15.09 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 9.94% 22.83% -33.13% -25.64% 29.03% -51.46% 29.31% 22.88% 112.15% 12.15%
Augmented Payout Ratio		 48.17% 63.33% -33.13% -25.64% 29.03% -51.46% 29.31% 22.88% 112.15% 12.15%

Frequently Asked Questions About Lincoln National's Financials

When does Lincoln National's financial year end?

According to the most recent income statement we have on file, Lincoln National's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Lincoln National's net income changed over the last 9 years?

Lincoln National's net income appears to be on an upward trend, with a most recent value of $3.28 billion in 2024, rising from $1.15 billion in 2015. The previous period was -$752 million in 2023.

How has Lincoln National revenue changed over the last 9 years?

Over the last 9 years, Lincoln National's total revenue changed from $13.57 billion in 2015 to $18.44 billion in 2024, a change of 35.9%.

How much debt does Lincoln National have?

Lincoln National's total liabilities were at $382.56 billion at the end of 2024, a 4.7% increase from 2023, and a 60.5% increase since 2015.

How much cash does Lincoln National have?

In the past 9 years, Lincoln National's cash and equivalents has ranged from $1.63 billion in 2017 to $5.80 billion in 2024, and is currently $5.80 billion as of their latest financial filing in 2024.

How has Lincoln National's book value per share changed over the last 9 years?

Over the last 9 years, Lincoln National's book value per share changed from 55.02 in 2015 to 42.75 in 2024, a change of -22.3%.

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This page (NYSE:LNC) was last updated on 4/15/2025 by MarketBeat.com Staff
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