Lincoln National Corporation Ratios | P/E, ROE & Valuation

On the Key Ratios page for Lincoln National Corporation (LNC), the latest P/E of 3.7 frames valuation, while ROE 21.99% and ROIC 20.86% indicates profitability and capital efficiency. Together with the current ratio of 25.41 and debt-to-equity 0.60, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

LNC Historical Per Share Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Revenue per Share$100.39$105.29$82.92$110.67$94.55$90.07$86.03$76.06$64.18$56.92
Net Income per Share$12.23$19.17$-4.43$7.94$7.50$2.58$4.42$7.60$9.36$5.09
Operating Cash Flow per Share$-6.89$-11.75$-12.23$21.10$-1.16$2.76$-13.39$9.00$3.55$5.43
Free Cash Flow per Share$-6.89$-11.75$-12.23$21.10$-1.16$2.76$-13.39$9.00$3.55$5.43
Cash per Share$271.27$156.38$44.95$602.68$647.73$644.35$537.18$446.28$435.40$393.75
Book Value per Share$58.84$48.40$40.65$29.83$108.20$117.22$98.15$66.45$77.98$61.82
Tangible Book Value per Share$-14.07$35.98$33.90$23.14$95.72$104.96$86.13$54.63$71.14$51.49
Interest Debt per Share$37.27$39.16$38.05$39.40$36.80$35.98$33.36$28.42$25.20$24.24
CAPEX per Share$0.00$0.00$0.00$0.00$0.00$0.00$0.00$8.43$0.00$0.00

LNC Historical Valuation Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Price to Earnings (P/E)3.681.65-6.083.879.119.5213.366.758.2113.02
Price to Book (P/B)0.750.660.661.030.630.430.60.770.991.07
Price to Sales (P/S)0.440.30.330.280.720.560.690.671.21.16
Enterprise Value to EBITDA1.631.34-9.420.23.390.411.176.6514.9910.12
EV to Sales0.270.330.520.440.950.840.910.891.461.36
EV to Operating Cash Flow-3.88-2.98-3.532.32-77.4327.56-5.827.526.3814.26
EV to Free Cash Flow-3.88-2.98-3.532.32-77.4327.56-5.827.526.3814.26
Enterprise Value$5.15B$5.97B$7.33B$8.37B$16.80B$14.71B$15.64B$14.57B$20.79B$18.14B

LNC Historical Profitability Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Return on Equity (ROE)21.99%39.61%-10.91%26.62%6.93%2.20%4.50%11.44%12.00%8.23%
Return on Invested Capital (ROIC)20.86%0.83%-0.14%0.90%4.53%0.29%0.36%9.41%11.19%4.92%
Return on Tangible Assets0.57%0.84%-0.20%0.41%0.36%0.14%0.27%0.56%0.74%0.46%
Earnings Yield27.72%60.45%-16.44%25.85%10.99%5.12%7.48%14.81%12.18%7.68%
Free Cash Flow Yield-15.72%-37.05%-45.35%68.69%-1.70%5.48%-22.69%17.54%4.61%8.20%
Dividend Yield4.08%7.35%8.46%5.90%2.49%3.19%2.56%2.61%1.53%1.53%

LNC Historical Liquidity & Financial Strength

10 years
Metric (FY)TTM202420232022202120202019201820172016
Current Ratio25.413.22-0.16163.95474.11-14417.910.430.450.46
Interest Coverage8.7811.36-2.379.1955.162.422.727.355.453.6
Income Quality-0.56-0.612.762.66-0.061.07-3.031.180.381.07
Debt to Equity0.60.770.891.270.330.290.320.410.310.37
Debt to Assets1.60%1.63%1.64%1.93%1.71%1.83%1.90%1.96%1.90%2.04%
Net Debt to EBITDA-1.040.12-3.540.070.810.140.281.592.681.46

LNC Historical Efficiency Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Receivables Turnover0.680.630.470.950.871.030.980.92.692.34
Payables Turnover0000000000
Inventory Turnover00-0.17-1.83-1.4700000
Days Sales Outstanding535.29583.34774.67384.75418.16355.43372.42407.09135.76155.94
Days Payables Outstanding0000000000
Days of Inventory on Hand00-2128.48-199.04-247.9600000

LNC Historical Market Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Enterprise Value to EBITDA1.631.34-9.420.23.390.411.176.6514.9910.12
Market Cap$8.45B$5.42B$4.57B$5.25B$12.79B$9.74B$11.84B$11.08B$17.08B$15.52B
Enterprise Value$5.15B$5.97B$7.33B$8.37B$16.80B$14.71B$15.64B$14.57B$20.79B$18.14B
Dividend Yield4.08%7.35%8.46%5.90%2.49%3.19%2.56%2.61%1.53%1.53%
Payout Ratio17.42%12.15%-51.46%22.83%22.70%62.32%34.20%17.61%12.60%19.97%

Frequently Asked Questions

How does Lincoln National Corporation’s P/E ratio compare with its history?

On this page, LNC's current P/E is 3.7, compared with a multi-year average around 8.8. A lower P/E versus its own history is a calculated gap versus that average—not a conclusion that the stock is cheap. Pair it with profitability and earnings quality in the table (for example ROE/ROIC) to see whether the multiple moved with earnings.

What is Lincoln National Corporation market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $8.45B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

How does Lincoln National Corporation’s P/E compare with its industry?

There is no P/E Tickerplace rates as good. Compare the P/E on this page with Lincoln National Corporation's own historical range (in the table) and with peers via the Screener and Compare tools. A higher or lower multiple versus peers is a calculated gap, not a recommendation.

How does Lincoln National Corporation compare to its competitors in key financial ratios?

The fastest way to compare Lincoln National Corporation with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see Lincoln National Corporation outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

What do Lincoln National Corporation's liquidity and leverage ratios show?

Liquidity and leverage figures on this page are published ratios, not a verdict that Lincoln National Corporation is financially strong. Current ratio is about 25.41, which is above 1.0 and can indicate more comfortable short-term liquidity. Interest coverage is about 8.78, implying a stronger ability to cover interest expenses. Debt-to-equity is about 0.60, suggesting leverage is more moderate relative to a high-debt profile. Pair them with ROE/ROIC and cash-flow rows in the table. Tickerplace does not rate the company as a good or poor investment.

What do Lincoln National Corporation's financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If Lincoln National Corporation is sustaining strong returns (for example ROE at 21.99% and ROIC at 20.86%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.