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Friday 6 November 2026 Export LNC’s income statement to Excel — free account

Lincoln National Corporation

LNC Financial Insurance Life

Lincoln National Corporation’s revenue for fiscal 2025 (year ended December 2025) was $18.2 billion, down 1.25% from fiscal 2024.

Revenue
+20.3%
EPS
+220.9%
Free cash flow
+176.7%
Total debt
+19.0%

Quarter to September 2026, against a year earlier

39.47 2.13 −5.12%
Market cap
$7.5B
P/E
2.4×
Fwd P/E
4.5×
Dividend yield
4.56%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Lincoln National Corporation (LNC) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Lincoln National Corporation (LNC) trades at a P/B ratio of 0.7×. Over the past ten years it has ranged from 0.2× (March 2020) to 4.1× (October 2022); the current reading is higher than 39% of that period. That is below the Insurance Life industry median of 1.1× and below the Financial sector median of 1.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 0.8× 10.39%
FY2024 0.7× (5.28%)
FY2023 0.8× (38.77%)
FY2022 1.3× 107.84%
FY2021 0.6× 43.60%
FY2020 0.4× (28.63%)
FY2019 0.6× (22.13%)
FY2018 0.8× (22.72%)
FY2017 1.0× (7.69%)
FY2016 1.1× 16.99%

Quarterly newest first

Period P/B ratio Change
Sep 2026 0.7× 13.76%
Jun 2026 0.7× (10.90%)
Mar 2026 0.7× (9.95%)
Dec 2025 0.8× 0.86%
43 more quarters

Against its own ten years

Low 0.2× High 4.1×
Ten-year median 0.8×
Current reading's percentile 42

P/B ratio against peers

Company P/B ratio
GNW Genworth Financial, Inc. compare 0.3×
BHF Brighthouse Financial, Inc. compare 0.5×
FG F&G Annuities & Life, Inc. compare 0.6×
LNC Lincoln National Corporation 0.7×
JXN Jackson Financial Inc. compare 1.1×
UNM Unum Group compare 1.1×
GL Globe Life Inc. compare 2.0×
CNO CNO Financial Group, Inc. compare 2.2×
PRI Primerica, Inc. compare 3.1×
Insurance Life industry median 1.1×
Financial sector median 1.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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