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LNC

Lincoln National Corporation

Financial Services · $8.3B market cap

Verdict

We can't put a fair value on LNC right now. It's valued like a bank, but its return on tangible equity (or its tangible book value) isn't positive, so there's nothing to base a value on.

Business quality

0 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth1.1% a year✗
Equity per share growth4.1% a year✗
Sales growth4.4% a year✗
Free cash flow growth-3.4% a year✗
Return on invested capital0.3%✗

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Superinvestors

2 of the investors we track hold LNC. In Q2 2026, 1 trimmed. Who we track

Bill Miller

Miller Value Partners · as of Q2 2026

$21.3M

603,160 shares

First Eagle Investment Management

First Eagle Investment Management · as of Q2 2026

$12.3M

348,750 shares

Moves in Q2 2026

Trimmed: First Eagle Investment Management

About Lincoln National Corporation

Lincoln National Corporation (LNC) is a U.S.-based financial services company primarily involved in the insurance and retirement sectors. Operating through various subsidiaries, its operations are structured across four key divisions: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities division provides a range of annuity products, including fixed, variable, and indexed variable…

Insurance - Life

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works