Lincoln National Corporation (LNC) vs MetLife, Inc. (MET)

Lincoln National Corporation and MetLife, Inc. are both Insurance Life companies. MetLife, Inc. is the larger, with a market value of $63.7B against $7.7B — 8.3× the size. Lincoln National Corporation trades at the lower P/E: 3.4× against 19.3×. MetLife, Inc. grew revenue faster over the last twelve months: 8.75% against 7.91%. Lincoln National Corporation has the higher net margin (11.7% vs 4.33%) and the higher return on invested capital (24.5% vs 10.7%). Both pay a dividend; Lincoln National Corporation yields more (4.52% vs 2.30%). Across the 20 metrics below, Lincoln National Corporation leads on 14 and MetLife, Inc. on 6.

Valuation

Metric LNC MET Insurance Life median
P/E 3.37 19.32 12.80
P/S 0.40 0.82 0.76
P/B 0.74 2.34 1.09
Price to free cash flow n/m 4.17 7.67
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 29.65% 5.17% 7.81%
Free cash flow yield (17.29%) 24.00% 11.89%

Profitability

Metric LNC MET Insurance Life median
Gross margin 16.35% 24.66% 32.44%
Operating margin 16.35% 6.13% 11.31%
Net margin 11.74% 4.33% 6.61%
Free cash flow margin (6.87%) 19.59% 15.04%
Return on equity 23.98% 12.36% 8.67%
Return on assets 0.55% 0.47% 0.67%
Return on invested capital 24.53% 10.65% 8.20%

Growth

Metric LNC MET Insurance Life median
Revenue growth (TTM) 7.91% 8.75% 7.91%
EPS growth (last fiscal year) (68.33%) (20.71%) (20.59%)
Revenue growth, 5-year CAGR 0.87% 2.59% 1.08%
Net income growth, 5-year CAGR 16.83% (9.38%) 0.00%

Health

Metric LNC MET Insurance Life median
Debt to equity 0.60 0.73 0.48
Current ratio 0.20 0.15 0.21
Net debt to EBITDA (2.07) (0.76) 0.12

Dividend

Metric LNC MET Insurance Life median
Dividend yield 4.52% 2.30% 2.17%
Payout ratio 0.16 0.44 0.26

Size

Metric LNC MET Insurance Life median
Market cap 7.66b 63.72b 7.66b

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