Lincoln National (LNC) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Lincoln National had a P/E ratio of 7.79 (up from 1.70), return on equity of 12.3% (down from 43.2%), debt-to-equity of 0.65 (down from 0.87) and a current ratio of 2.23 (down from 2.33). A current ratio of 2.23 means current assets exceed current liabilities. Its dividend yield was 4.19% with a payout ratio of 35.3%.

Lincoln National Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	7.79	1.70	-	3.83	3.27	19.48
Forward P/E	5.59	4.25	4.11	3.55	6.63	5.60
P/S Ratio	0.46	0.30	0.39	0.28	0.70	0.56
P/B Ratio	0.78	0.65	0.66	1.02	0.59	0.43
Price/Tangible Book	0.97	0.88	0.97	1.77	0.65	0.47
Price/OCF	-	-	-	1.44	-	18.21
PEG Ratio	0.44	0.25	0.57	0.43	0.23	0.40
Enterprise Value Ratios
EV/Revenue	0.36	0.38	0.90	0.61	0.97	0.86
EV/EBITDA	5.41	7.16	-	5.26	15.37	18.14
EV/EBIT	6.17	7.22	-	5.32	15.91	19.39
Profitability & Returns
Return on Equity (ROE)	12.28%	43.20%	-12.54%	10.50%	17.39%	2.35%
Return on Assets (ROA)	0.16%	0.16%	-0.57%	0.38%	0.18%	0.14%
Return on Invested Capital (ROIC)	5.59%	5.13%	-23.13%	8.19%	2.96%	2.68%
Leverage & Solvency Ratios
Debt/Equity	0.65	0.87	1.12	1.55	0.38	0.36
Debt/EBITDA	5.68	7.27	-	3.55	6.68	9.23
Liquidity Ratios
Current Ratio	2.23	2.33	2.35	2.94	3.30	2.90
Quick Ratio	1.15	1.11	1.08	1.13	0.57	0.56
Efficiency Ratios
Asset Turnover	0.04	0.05	0.03	0.05	0.05	0.05
Yield & Distribution Ratios
Earnings Yield	13.91%	60.63%	-16.43%	26.12%	30.63%	5.13%
Dividend Yield	4.19%	6.20%	7.73%	7.30%	3.22%	4.16%
Payout Ratio	35.34%	12.15%	-	22.83%	8.44%	62.33%
Buyback Yield	-7.50%	-2.07%	1.82%	8.93%	2.48%	3.78%
Total Return	-3.31%	4.12%	9.55%	16.23%	5.71%	7.94%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Lincoln National Financial Ratios

What is Lincoln National's P/E ratio?

Lincoln National's P/E ratio was 7.79 for fiscal 2025 (period ended Dec 31, 2025). It was 1.70 a year earlier.

What is Lincoln National's return on equity?

Lincoln National's return on equity (ROE) was 12.3% for fiscal 2025 (period ended Dec 31, 2025). It was 43.2% a year earlier.

What is Lincoln National's debt-to-equity ratio?

Lincoln National's debt-to-equity ratio was 0.65 for fiscal 2025 (period ended Dec 31, 2025). It was 0.87 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition