Lincoln National Corp (LNC)
Lincoln National Corp brought in $20.3B of revenue over the twelve months to September 30, 2026, up 10.3% from a year earlier. Net income was $3.3B, a net margin of 16.4%. At September 30, 2026 it held $9.8B in cash against $6.4B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 5, 2026.
Key facts about Lincoln National Corp
- Net worth
- Lincoln National Corp has a market value (market cap) of $8.2B at the latest share price, and shareholders' equity of $9.4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $18.2B (-1.2% year on year), with net income of $1.2B. Over the 12 months to September 30, 2026: revenue $20.3B, net income $3.3B.
- Cash flow
- In fiscal 2025 operations used $167M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 5, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Lincoln National Corp's next report is expected around February 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Lincoln National Corp declared dividends of $1.80 per share in fiscal 2025, a yield of 4.21% at the current price.
What Lincoln National Corp does
Lincoln National Corp is registered with the SEC under industry code SIC 6311 (Life Insurance). Its shares trade on NYSE under the ticker LNC.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $18.2B | $1.2B | $5.83 | n/a |
| 2024 | $18.4B | $3.3B | $18.41 | n/a |
| 2023 | $11.6B | -$752M | -$4.92 | n/a |
| 2022 | $18.8B | $1.4B | $7.78 | n/a |
| 2021 | $17.7B | $3.8B | $19.96 | n/a |
| 2020 | $17.4B | $499M | $5.12 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where LNC ranks in Finance
Dividends
Lincoln National Corp declared $1.80 per share in fiscal 2025. At the current price that is a yield of 4.21%. It paid out $325M in cash dividends, 28% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $1.80 | $325M | 28% |
| 2024 | $1.80 | $307M | 9% |
| 2023 | $1.80 | $305M | n/a |
| 2022 | $1.80 | $310M | 23% |
| 2021 | $1.71 | $319M | 8% |
| 2020 | $1.62 | $311M | 62% |
Latest SEC filings
What Lincoln National Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026Form 13F-HR filing 13F-HR
- November 5, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 20% to $5.5B versus the same quarter last year; diluted EPS $6.77 versus $2.12.
- November 5, 2026
- October 27, 2026Passive stake changed SCHEDULE 13G/A
- September 9, 2026Form SC TO-I/A filing SC TO-I/A
- August 21, 2026Passive stake (5% or more) SCHEDULE 13G
- August 12, 2026Activist stake changed SCHEDULE 13D/A
- August 10, 2026Form SC TO-I filing SC TO-I
- August 10, 2026
- August 10, 2026Form 13F-HR filing 13F-HR
Insider trades
What the people running Lincoln National Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $3.3M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 6, 2026 | Reid James WaltmanEVP, Pres. Workplace Solutions | Sold | 52,434 | $2.1M |
| November 6, 2026 | Woodroffe SeanEVP, Ch Ppl Comms Ent Srvc Off | Sold | 17,500 | $704.2K |
| August 24, 2026 | Cohen Adam MInterim CFO & CAO | Received as pay | 7,866 | - |
| August 24, 2026 | Cohen Adam MInterim CFO & CAO | Received as pay | 23,597 | - |
| August 17, 2026 | Woodroffe SeanEVP, Ch Ppl Comms Ent Srvc Off | Sold | 11,000 | $498.1K |
| August 17, 2026 | Chesney Curtis W.EVP, President of Annuities | Gave as a gift | 637 | - |
| August 12, 2026 | Kelly Gary CDirector | Sold | 15,007 | $397.7K |
| August 9, 2026 | Neczypor Christopher MEVP & CFO | Shares withheld for tax | 2,464 | $113.4K |
Who owns LNC
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Bain Capital Prairie, LLC13D, may seek influence | 9.8% | August 12, 2026 |
| Vanguard Portfolio Management13G, passive | 5.5% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.04% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 616 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Bain Capital Prairie, LLC | 18,759,497 | 0 |
| BlackRock, Inc. | 18,561,962 | +63,858 |
| Vanguard Portfolio Management LLC | 10,427,206 | +17,552 |
| Dimensional Fund Advisors LP | 8,571,956 | +816,450 |
| Vanguard Capital Management LLC | 8,347,042 | +76,141 |
| Massachusetts Financial Services Co | 6,373,067 | +491,735 |
| State Street Corp | 6,106,302 | +215,007 |
| Jennison Associates LLC | 3,772,433 | -50,719 |
| Morgan Stanley | 3,632,194 | -60,648 |
| Geode Capital Management, LLC | 3,193,783 | +34,764 |
| Norges Bank | 2,290,874 | new |
| Charles Schwab Investment Management Inc | 2,193,476 | +57,662 |
| Principal Financial Group Inc | 2,138,603 | -141,973 |
| Goldman Sachs Group Inc | 2,107,181 | +321,774 |
| Arrowstreet Capital, Limited Partnership | 1,922,320 | +1,239,280 |
| Northern Trust Corp | 1,896,611 | +44,079 |
| Jupiter Asset Management Ltd | 1,869,735 | +73,064 |
| Bank of New York Mellon Corp | 1,785,335 | +6,441 |
| Invesco Ltd. | 1,600,963 | +59,693 |
| Bank of America Corp | 1,592,814 | +163,969 |
Insiders
14 insiders reported holding 1,849,027 shares in total, about $79.1M at the last price.
| Holder | Shares |
|---|---|
| Cooper EllenChairman, President & CEO, Director | 768,244 |
| Neczypor Christopher MEVP & CFO | 194,705 |
| Rallis AndrewEVP, Chief Risk Officer | 162,530 |
| Reid James WaltmanEVP, Pres. Workplace Solutions | 129,533 |
| Kennedy John ChristopherEVP, Chief Dist. & Brand Off | 125,557 |
| Beazer CraigT TEVP & General Counsel | 103,906 |
| Woodroffe SeanEVP, Ch Ppl Comms Ent Srvc Off | 103,296 |
| Cohen Adam MInterim CFO & CAO | 71,375 |
| Kroll BrianEVP, Head of Life & Annuities | 70,536 |
| Charters JenniferEVP, Chief Information Officer | 37,796 |
Questions about LNC
What does Lincoln National Corp do?
Lincoln National Corp is a company in the Finance sector, listed on NYSE as LNC. Its shares trade on NYSE under the ticker LNC.
What is Lincoln National Corp's net worth?
Lincoln National Corp has a market value (market cap) of $8.2B at the latest share price, and shareholders' equity of $9.4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Lincoln National Corp profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $3.3B on revenue of $20.3B, a net margin of 16.4%.
How much revenue does Lincoln National Corp make?
Over the twelve months to September 30, 2026 Lincoln National Corp reported revenue of $20.3B. That is 10.3% more than a year earlier.
When did Lincoln National Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 5, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the form 13F-HR filing from November 9, 2026.
When is Lincoln National Corp's next earnings report?
Lincoln National Corp's next report is expected around February 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Lincoln National Corp pay a dividend?
Yes. Lincoln National Corp declared dividends of $1.80 per share in fiscal 2025, a yield of 4.21% at the current price.
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Where the numbers come from
Financial figures are the values Lincoln National Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.