LINCOLN NATIONAL CORP
LNCNYSEFinancials · Life Insurance · IN · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $18.21B | $18.44B | $11.64B | $18.81B | $17.71B | $17.44B |
| Operating income | — | — | — | — | — | — |
| Net income | $1.18B | $3.27B | −$752.0M | $1.36B | $3.78B | $499.0M |
| Total assets | $417.20B | $390.83B | $372.41B | $334.33B | $387.30B | $365.95B |
| Total liabilities | $406.30B | $382.56B | $365.52B | $329.23B | $367.03B | $343.25B |
| Equity | $10.91B | $8.27B | $6.89B | $5.10B | $19.91B | $22.70B |
| EPS (diluted) | $5.83 | $18.41 | $-4.92 | $7.78 | $19.96 | $2.56 |
| Shares out. | 170.4M | 169.7M | 169.2M | 172.5M | 192.0M | 195.4M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- 6.5%
- Return on equity
- 10.8%
- Return on assets
- 0.3%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 97.4%
- Debt / equity
- 37.25×
- Book value / share
- $64.00
- Revenue growth (YoY)
- −1.2%
- Net income growth (YoY)
- −64.1%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- 0.3%clean
- Piotroski F-Score
- 2/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 3 warning● 1 good- Revenue declined year-over-year
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Capital Management LlcPassive (13G)Apr 30, 2026
- Vanguard Portfolio Management LlcPassive (13G)Apr 29, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
- Bain Capital Prairie, LlcActivist (13D)Jun 12, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Rallis AndrewOfficer — EVP, Chief Risk Officer | May 24, 2026 | Tax withholding | 32,281 | $36.03 |
| Woodroffe SeanOfficer — EVP, Ch Ppl Comms Ent Srvc Off | May 24, 2026 | Tax withholding | 45,150 | $36.03 |
| Kennedy John ChristopherOfficer — EVP, Chief Dist. & Brand Off | May 24, 2026 | Tax withholding | 23,801 | $36.03 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 9.1M | 4.1 | +28.6% |
| Apr 30, 2026 | 7.1M | 4.7 | +4.6% |
| Apr 15, 2026 | 6.8M | 3.9 | -4.3% |
| Mar 31, 2026 | 7.1M | 2.6 | +17.9% |
| Mar 13, 2026 | 6.0M | 2.4 | +19.9% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder voteJun 1, 2026
- Results of operations · Regulation FD disclosureMay 7, 2026
- Director / officer changeApr 16, 2026
- Entered a material agreementMar 31, 2026
- Results of operations · Regulation FD disclosureFeb 12, 2026
- Other material eventNov 10, 2025
- Results of operations · Regulation FD disclosureOct 30, 2025
- Results of operations · Regulation FD disclosureJul 31, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 144Jun 1, 2026
- 8-KJun 1, 2026
- 4PRIMARY DOCUMENTMay 26, 2026
- 4PRIMARY DOCUMENTMay 26, 2026
- 4PRIMARY DOCUMENTMay 26, 2026
- SCHEDULE 13D/AMay 18, 2026
- 10-QMay 7, 2026
- 8-KMay 7, 2026
- 13F-HRMay 4, 2026
- SCHEDULE 13GApr 30, 2026
- SCHEDULE 13GApr 29, 2026
- FWPApr 24, 2026
- SCHEDULE 13DApr 20, 2026
- SCHEDULE 13DApr 20, 2026
- 8-KApr 16, 2026
Event-driven situations (4)
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