LNC
Financial ServicesLincoln National Corporation · Insurance - Life · $7B
What is Lincoln National Corporation?
Lincoln National Corporation is a mid-cap U.S. financial services company offering insurance, annuities, and retirement solutions. Headquartered in Radnor, Pennsylvania, it serves both individual and employer markets across the country.
Lincoln National generates revenue through four core business segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells fixed, variable, and indexed annuity products, administers employer-sponsored retirement plans, and provides a broad range of life insurance policies. Its Group Protection arm delivers disability, dental, vision, and term life coverage to employers. Products are distributed through brokers, financial planners, consultants, and agents.
Lincoln National was founded in 1980 and is headquartered in Radnor, Pennsylvania.
- Fixed, variable, and indexed variable annuities
- Defined contribution retirement plan recordkeeping and services
- Term, universal, and indexed universal life insurance
- Group disability, dental, vision, and term life benefits
- Paid family leave administration and absence management
Is LNC a Good Stock to Buy?
UQS Score rates LNC as Below Average overall, reflecting meaningful challenges across several fundamental dimensions.
The Risk pillar stands out as the relative bright spot in Lincoln National's profile, suggesting the company's near-term financial stability is not the primary concern. The Valuation pillar is rated Attractive, indicating the stock may be priced at a discount relative to its fundamentals — a potential point of interest for value-oriented investors.
The Quality, Moat, and Growth pillars are all rated Weak, pointing to limited competitive differentiation, constrained earnings power, and a lack of clear near-term growth catalysts.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does LNC pay dividends?
Yes — Lincoln National Corporation pays a dividend.
Lincoln National pays a regular dividend, which may appeal to income-focused investors in the insurance and retirement space. The company's long-standing dividend practice reflects its position as a mature financial services provider. Investors should review the current yield and payout sustainability in the context of LNC's Weak Quality and Growth pillar ratings before relying on dividend continuity.
When does LNC report earnings?
Lincoln National reports earnings on a quarterly cadence, consistent with standard practice for U.S.-listed financial services companies.
Given the Weak ratings across Quality and Growth pillars, recent earnings periods have reflected ongoing pressure on profitability and business momentum. The Attractive Valuation rating suggests the market has already priced in a degree of uncertainty around near-term results.
For the most recent quarter's results and upcoming reporting dates, visit Lincoln National's investor relations page directly.
LNC Price History
-32.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Lincoln National Corporation?
Based on Lincoln National Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
LNC Long-term Outlook
Lincoln National's fundamental outlook is shaped by the tension between an Attractive valuation and Weak scores across Quality, Moat, and Growth. The company operates in a mature, competitive segment of financial services where differentiation is difficult. The Good Risk rating provides some reassurance around balance sheet stability, but the path to meaningful earnings improvement remains unclear based on the current pillar profile.
Growth drivers
- Potential margin recovery in annuity and retirement plan segments as interest rates stabilize
- Employer demand for group benefits and absence management services
- Valuation re-rating if operational improvements materialize
Key risks
- Sustained weakness in Quality and Moat pillars limits pricing power and earnings resilience
- Competitive pressure from larger, better-capitalized insurance peers
- Macroeconomic sensitivity in annuity and retirement plan flows
LNC vs Peers
Lincoln National competes in the U.S. insurance and retirement marketplace alongside several other established providers.
Jackson Financial focuses heavily on variable and fixed-index annuities, making it a direct rival in Lincoln's core annuity segment.
E-L Financial is a Canadian holding company with diversified insurance and investment operations, offering a different geographic and structural profile.
Prudential operates at a larger scale across life insurance, retirement, and asset management, giving it broader distribution and brand recognition.
Frequently Asked Questions
What does Lincoln National do?
Lincoln National Corporation provides insurance and retirement financial products to individuals and employers across the United States. Its four business segments cover annuities, retirement plan services, life insurance, and group protection benefits such as disability, dental, and vision coverage.
Does LNC pay dividends?
Yes, Lincoln National pays a regular dividend. It has maintained a dividend program consistent with its position as a mature insurance and financial services company. Investors should weigh the dividend against the company's Weak Quality and Growth pillar ratings when assessing payout sustainability.
When does LNC report earnings?
Lincoln National reports earnings quarterly, in line with standard U.S. public company practice. For exact upcoming reporting dates, check the investor relations section of Lincoln National's official website.
Is LNC a good stock to buy?
UQS Score rates LNC as Below Average, driven by Weak Quality, Moat, and Growth pillars. The Attractive Valuation and Good Risk ratings offer some counterbalance. Whether LNC fits a portfolio depends on individual risk tolerance and investment goals — the full pillar breakdown is available to Pro members.
Is LNC overvalued?
Based on the UQS Valuation pillar, LNC is rated Attractive, suggesting the stock may be trading at a discount relative to its fundamentals. This does not guarantee price appreciation, particularly given the Weak ratings in other pillars, but it does indicate the market has priced in significant headwinds.
How does LNC compare to its competitors?
Lincoln National competes with companies like Jackson Financial and Prudential in the annuity and life insurance space. Larger peers may benefit from greater scale and brand recognition, while LNC's Attractive Valuation rating could differentiate it for value-focused investors willing to accept the associated quality trade-offs.
What is LNC's market cap bracket?
Lincoln National is classified as a mid-cap company. This places it in a tier below the largest insurance conglomerates but above smaller regional or specialty insurers, reflecting its established but not dominant position in U.S. financial services.
Who founded Lincoln National Corporation?
Lincoln National Corporation traces its corporate history back to 1905, though its current holding company structure was established in 1980. Detailed founding history is widely available through the company's official corporate history and investor relations materials.
Is LNC a long-term quality investment?
As a long-term quality indicator, LNC's UQS profile raises caution. Weak scores in Quality, Moat, and Growth suggest the business lacks the durable competitive advantages typically associated with long-term compounders. The Good Risk and Attractive Valuation ratings may appeal to patient, value-oriented investors, but the full picture warrants careful review.
What is the main competitive advantage of Lincoln National?
Lincoln National's Moat pillar is rated Weak, indicating limited durable competitive advantages relative to peers. The company does benefit from established distribution relationships and a diversified product lineup across annuities, life insurance, and group benefits, but these have not translated into a strong moat score.
What sector does LNC belong to?
Lincoln National belongs to the Financial Services sector, specifically within the insurance and retirement solutions industry. It operates exclusively in the United States, focusing on both individual consumers and employer-sponsored benefit programs.
Is LNC a growth stock or value stock?
Based on its UQS profile, LNC leans toward value territory. The Growth pillar is rated Weak, suggesting limited near-term earnings expansion, while the Valuation pillar is rated Attractive. This combination positions LNC more as a potential value play than a growth-oriented holding.
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Pro Analysis
LNC — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 18, 2026 | 52.0 | 48.2 | 25.0 | 33.4 | 80.4 | 100.0 | -0.3 |
| May 13, 2026 | 52.3 | 48.3 | 25.0 | 34.3 | 80.4 | 100.0 | +6.2 |
| Apr 18, 2026 | 46.1 | 26.0 | 25.0 | 35.0 | 75.9 | 100.0 | -0.1 |
| Apr 14, 2026 | 46.2 | 26.0 | 25.0 | 35.2 | 75.9 | 100.0 | -6.2 |
| Apr 13, 2026 | 52.4 | 26.0 | 50.0 | 35.2 | 75.9 | 100.0 | +6.2 |
| Apr 12, 2026 | 46.2 | 26.0 | 25.0 | 35.2 | 75.9 | 100.0 | -0.1 |
| Apr 2, 2026 | 46.3 | 26.0 | 25.0 | 35.8 | 75.9 | 100.0 | — |
LNC — Pillar Breakdown
Quality
— 47.9/100 (25%)Lincoln National Corporation has average quality metrics, with room for improvement in margins or capital efficiency.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 33.2/100 (20%)Lincoln National Corporation faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 80.4/100 (15%)Lincoln National Corporation carries minimal financial risk with conservative leverage and strong solvency.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 100.0/100 (15%)Lincoln National Corporation appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 25/100 (25%)Lincoln National Corporation operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for LNC.
Score Composition
Financial Data
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How is the LNC UQS Score Calculated?
The UQS (Unified Quality Score) for Lincoln National Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Lincoln National Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Lincoln National Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.