Lincoln National Corporation
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, varia… Read more
Lincoln National Corporation (LNC) - Net Assets
Latest net assets as of September 2025: $10.45 Billion USD
Based on the latest financial reports, Lincoln National Corporation (LNC) has net assets worth $10.45 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($415.27 Billion) and total liabilities ($404.82 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $10.45 Billion |
| % of Total Assets | 2.52% |
| Annual Growth Rate | -1.22% |
| 5-Year Change | -97.7% |
| 10-Year Change | -39.27% |
| Growth Volatility | 274.07 |
Lincoln National Corporation - Net Assets Trend (1985–2024)
This chart illustrates how Lincoln National Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Lincoln National Corporation (1985–2024)
The table below shows the annual net assets of Lincoln National Corporation from 1985 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $8.27 Billion | +19.96% |
| 2023-12-31 | $6.89 Billion | +35.10% |
| 2022-12-31 | $5.10 Billion | -74.83% |
| 2021-12-31 | $20.27 Billion | -94.36% |
| 2020-12-31 | $359.26 Billion | +1724.68% |
| 2019-12-31 | $19.69 Billion | +37.21% |
| 2018-12-31 | $14.35 Billion | -17.16% |
| 2017-12-31 | $17.32 Billion | +19.64% |
| 2016-12-31 | $14.48 Billion | +6.32% |
| 2015-12-31 | $13.62 Billion | -13.49% |
| 2014-12-31 | $15.74 Billion | +17.00% |
| 2013-12-31 | $13.45 Billion | -10.15% |
| 2012-12-31 | $14.97 Billion | +5.71% |
| 2011-12-31 | $14.16 Billion | +10.60% |
| 2010-12-31 | $12.81 Billion | +9.45% |
| 2009-12-31 | $11.70 Billion | +46.68% |
| 2008-12-31 | $7.98 Billion | -31.93% |
| 2007-12-31 | $11.72 Billion | -3.96% |
| 2006-12-31 | $12.20 Billion | +81.61% |
| 2005-12-31 | $6.72 Billion | +3.12% |
| 2004-12-31 | $6.52 Billion | +5.89% |
| 2003-12-31 | $6.15 Billion | +8.16% |
| 2002-12-31 | $5.69 Billion | -0.86% |
| 2001-12-31 | $5.74 Billion | +0.69% |
| 2000-12-31 | $5.70 Billion | +13.78% |
| 1999-12-31 | $5.01 Billion | -18.33% |
| 1998-12-31 | $6.13 Billion | +15.76% |
| 1997-12-31 | $5.30 Billion | +12.88% |
| 1996-12-31 | $4.69 Billion | +7.21% |
| 1995-12-31 | $4.38 Billion | +43.92% |
| 1994-12-31 | $3.04 Billion | -25.30% |
| 1993-12-31 | $4.07 Billion | +37.99% |
| 1992-12-31 | $2.95 Billion | +5.79% |
| 1991-12-31 | $2.79 Billion | +15.49% |
| 1990-12-31 | $2.42 Billion | -0.08% |
| 1989-12-31 | $2.42 Billion | -88.20% |
| 1988-12-31 | $20.49 Billion | +16.31% |
| 1987-12-31 | $17.61 Billion | +9.83% |
| 1986-12-31 | $16.04 Billion | +20.26% |
| 1985-12-31 | $13.34 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Lincoln National Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 376.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $7.64 Billion | 92.45% |
| Common Stock | $4.67 Billion | 56.52% |
| Other Comprehensive Income | $-5.04 Billion | -60.90% |
| Other Components | $986.00 Million | 11.92% |
| Total Equity | $8.27 Billion | 100.00% |
Lincoln National Corporation Competitors by Market Cap
The table below lists competitors of Lincoln National Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Global Unichip Corp
TW:3443
|
$5.70 Billion |
|
Galp Energia SGPS S.A
OTCGREY:GLPEF
|
$5.70 Billion |
|
Hyatt Hotels Corporation
NYSE:H
|
$5.70 Billion |
|
Formosa Plastics Corp
TW:1301
|
$5.71 Billion |
|
Shanghai Rural Commercial Bank Co Ltd
SHG:601825
|
$5.69 Billion |
|
SCREEN Holdings Co. Ltd
OTCGREY:DINRF
|
$5.69 Billion |
|
Airports Of Thailand PCL
BK:AOT
|
$5.69 Billion |
|
Xinyi Glass Holdings Ltd
PINK:XYIGY
|
$5.69 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Lincoln National Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,893,000,000 to 8,269,000,000, a change of 1,376,000,000 (20.0%).
- Net income of 3,275,000,000 contributed positively to equity growth.
- Dividend payments of 398,000,000 reduced retained earnings.
- Share repurchases of 5,000,000 reduced equity.
- Other comprehensive income decreased equity by 1,560,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $3.27 Billion | +39.61% |
| Dividends Paid | $398.00 Million | -4.81% |
| Share Repurchases | $5.00 Million | -0.06% |
| Other Comprehensive Income | $-1.56 Billion | -18.87% |
| Other Changes | $64.00 Million | +0.77% |
| Total Change | $- | 19.96% |
Book Value vs Market Value Analysis
This analysis compares Lincoln National Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.70x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.21x to 0.70x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $10.40 | $33.44 | x |
| 1986-12-31 | $11.11 | $33.44 | x |
| 1987-12-31 | $11.50 | $33.44 | x |
| 1988-12-31 | $12.16 | $33.44 | x |
| 1989-12-31 | $14.34 | $33.44 | x |
| 1990-12-31 | $14.17 | $33.44 | x |
| 1991-12-31 | $16.34 | $33.44 | x |
| 1992-12-31 | $16.73 | $33.44 | x |
| 1993-12-31 | $20.92 | $33.44 | x |
| 1994-12-31 | $14.72 | $33.44 | x |
| 1995-12-31 | $21.02 | $33.44 | x |
| 1996-12-31 | $21.19 | $33.44 | x |
| 1997-12-31 | $23.95 | $33.44 | x |
| 1998-12-31 | $26.53 | $33.44 | x |
| 1999-12-31 | $21.31 | $33.44 | x |
| 2000-12-31 | $25.65 | $33.44 | x |
| 2001-12-31 | $27.50 | $33.44 | x |
| 2002-12-31 | $27.98 | $33.44 | x |
| 2003-12-31 | $32.35 | $33.44 | x |
| 2004-12-31 | $34.51 | $33.44 | x |
| 2005-12-31 | $36.26 | $33.44 | x |
| 2006-12-31 | $47.63 | $33.44 | x |
| 2007-12-31 | $42.78 | $33.44 | x |
| 2008-12-31 | $30.75 | $33.44 | x |
| 2009-12-31 | $40.96 | $33.44 | x |
| 2010-12-31 | $40.12 | $33.44 | x |
| 2011-12-31 | $44.97 | $33.44 | x |
| 2012-12-31 | $52.06 | $33.44 | x |
| 2013-12-31 | $48.89 | $33.44 | x |
| 2014-12-31 | $58.74 | $33.44 | x |
| 2015-12-31 | $53.41 | $33.44 | x |
| 2016-12-31 | $61.13 | $33.44 | x |
| 2017-12-31 | $76.57 | $33.44 | x |
| 2018-12-31 | $65.36 | $33.44 | x |
| 2019-12-31 | $97.42 | $33.44 | x |
| 2020-12-31 | $116.73 | $33.44 | x |
| 2021-12-31 | $107.20 | $33.44 | x |
| 2022-12-31 | $29.54 | $33.44 | x |
| 2023-12-31 | $40.65 | $33.44 | x |
| 2024-12-31 | $47.58 | $33.44 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Lincoln National Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 39.61%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.21%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 47.26x
- Recent ROE (39.61%) is above the historical average (8.13%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 11.88% | 4.37% | 0.36x | 7.52x | $33.95 Million |
| 1986 | 10.73% | 3.57% | 0.37x | 8.14x | $14.47 Million |
| 1987 | 11.86% | 3.40% | 0.39x | 9.01x | $37.18 Million |
| 1988 | 9.06% | 2.53% | 0.35x | 10.25x | $-19.17 Million |
| 1989 | 11.24% | 3.33% | 0.32x | 10.48x | $29.62 Million |
| 1990 | 8.00% | 2.26% | 0.31x | 11.53x | $-47.86 Million |
| 1991 | 7.51% | 2.27% | 0.27x | 12.28x | $-69.25 Million |
| 1992 | 12.30% | 4.52% | 0.20x | 13.44x | $67.78 Million |
| 1993 | 7.83% | 3.85% | 0.17x | 11.88x | $-88.33 Million |
| 1994 | 11.50% | 5.01% | 0.14x | 16.22x | $45.69 Million |
| 1995 | 11.01% | 7.27% | 0.10x | 14.45x | $44.37 Million |
| 1996 | 11.49% | 10.85% | 0.07x | 16.04x | $66.56 Million |
| 1997 | 18.74% | 19.07% | 0.06x | 15.49x | $435.70 Million |
| 1998 | 9.46% | 8.37% | 0.06x | 17.42x | $-29.02 Million |
| 1999 | 10.80% | 6.77% | 0.07x | 24.18x | $33.97 Million |
| 2000 | 11.81% | 8.55% | 0.07x | 20.15x | $89.89 Million |
| 2001 | 10.37% | 8.55% | 0.07x | 18.62x | $19.25 Million |
| 2002 | 1.73% | 1.98% | 0.05x | 17.58x | $-438.04 Million |
| 2003 | 8.81% | 9.69% | 0.05x | 18.37x | $-69.23 Million |
| 2004 | 11.45% | 13.16% | 0.05x | 18.82x | $89.45 Million |
| 2005 | 13.02% | 15.18% | 0.04x | 19.55x | $192.56 Million |
| 2006 | 10.79% | 14.68% | 0.05x | 14.63x | $95.90 Million |
| 2007 | 10.37% | 11.60% | 0.05x | 16.34x | $43.20 Million |
| 2008 | 0.71% | 0.62% | 0.06x | 20.45x | $-740.68 Million |
| 2009 | -4.15% | -5.71% | 0.05x | 15.16x | $-1.66 Billion |
| 2010 | 7.04% | 8.66% | 0.05x | 15.14x | $-378.60 Million |
| 2011 | 1.56% | 2.08% | 0.05x | 14.33x | $-1.20 Billion |
| 2012 | 8.77% | 11.38% | 0.05x | 14.62x | $-184.30 Million |
| 2013 | 9.25% | 10.40% | 0.05x | 17.61x | $-101.30 Million |
| 2014 | 9.63% | 11.15% | 0.05x | 16.10x | $-59.00 Million |
| 2015 | 8.47% | 8.51% | 0.05x | 18.50x | $-207.70 Million |
| 2016 | 8.23% | 8.94% | 0.05x | 18.07x | $-255.80 Million |
| 2017 | 12.00% | 14.58% | 0.05x | 16.27x | $346.80 Million |
| 2018 | 11.44% | 9.99% | 0.06x | 20.78x | $206.00 Million |
| 2019 | 4.50% | 5.13% | 0.05x | 17.00x | $-1.08 Billion |
| 2020 | 2.20% | 2.84% | 0.05x | 16.12x | $-1.77 Billion |
| 2021 | 18.64% | 21.46% | 0.05x | 19.11x | $1.75 Billion |
| 2022 | -43.65% | -11.86% | 0.06x | 65.51x | $-2.74 Billion |
| 2023 | -10.91% | -6.42% | 0.03x | 54.03x | $-1.44 Billion |
| 2024 | 39.61% | 18.21% | 0.05x | 47.26x | $2.45 Billion |
Industry Comparison
This section compares Lincoln National Corporation's net assets metrics with peer companies in the Insurance - Life industry.
Industry Context
- Industry: Insurance - Life
- Average net assets among peers: $38,213,058,191
- Average return on equity (ROE) among peers: 29.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Lincoln National Corporation (LNC) | $10.45 Billion | 11.88% | 38.73x | $5.70 Billion |
| AIA Group Ltd (AAIGF) | $145.77 Billion | 1.94% | 0.01x | $75.83 Billion |
| Atlantic American Corporation (AAME) | $78.54 Million | -15.55% | 4.39x | $10.88 Million |
| Abacus Life Inc. (ABL) | $766.89K | 130.06% | 1.40x | $276.35 Million |
| Abacus Global Management, Inc. (ABX) | $28.15 Million | 112.55% | 1.10x | $92.22K |
| Aflac Incorporated (AFL) | $6.64 Billion | 18.89% | 10.95x | $56.14 Billion |
| Anadolu Hayat Emeklilik Anonim Sirketi (AUHYF) | $1.29 Billion | 28.05% | 20.11x | $90.55 Million |
| Brighthouse Financial Inc (BHF) | $5.02 Billion | 7.72% | 46.48x | $3.38 Billion |
| Challenger Limited (CFIGF) | $1.80 Billion | 14.53% | 8.91x | $1.66 Billion |
| Citizens Inc (CIA) | $259.84 Million | -0.53% | 5.72x | $217.90 Million |
| China Life Insurance Co Ltd (CILJF) | $221.24 Billion | -2.13% | 0.03x | $16.34 Billion |