Lincoln National Corporation (LNC) — Tangible Net Worth Ratio
Lincoln National Corporation (LNC) has a Tangible Net Worth Ratio of -13.8% as of June 2026. This metric is calculated by deducting intangible assets ($12.92 Billion) from net assets ($11.35 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. For live market cap and overall valuation, see market value of Lincoln National Corporation.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Lincoln National Corporation Tangible Net Worth Ratio (1985–2025)
This chart shows how Lincoln National Corporation's Tangible Net Worth Ratio has changed across 41 annual periods from 1985 to 2025. As of June 2026, the ratio stands at -13.8%, reflecting net assets of $11.35 Billion with intangible assets of $12.92 Billion USD. Also explore LNC net asset momentum to track the company's year-over-year net asset growth rate.
Annual Tangible Net Worth Ratio for Lincoln National Corporation (1985–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Lincoln National Corporation from 1985 to 2025, covering 41 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. See LNC free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | -17.6% | $10.91 Billion | $12.83 Billion | $417.20 Billion | ▼ -105.8 pp |
| 2024 | 88.2% | $8.27 Billion | $977.00 Million | $390.83 Billion | ▲ +168.0 pp |
| 2023 | -79.8% | $6.89 Billion | $12.40 Billion | $372.41 Billion | ▲ +60.0 pp |
| 2022 | -139.8% | $5.10 Billion | $12.23 Billion | $334.33 Billion | ▼ -237.0 pp |
| 2021 | 97.2% | $20.27 Billion | $560.00 Million | $391.57 Billion | ▼ -1.0 pp |
| 2020 | 98.2% | $359.26 Billion | $6.41 Billion | $365.94 Billion | ▲ +40.5 pp |
| 2019 | 57.7% | $19.69 Billion | $8.33 Billion | $334.76 Billion | ▲ +33.8 pp |
| 2018 | 23.9% | $14.35 Billion | $10.92 Billion | $298.15 Billion | ▼ -27.3 pp |
| 2017 | 51.2% | $17.32 Billion | $8.46 Billion | $281.76 Billion | ▲ +14.7 pp |
| 2016 | 36.5% | $14.48 Billion | $9.20 Billion | $261.63 Billion | ▼ -45.8 pp |
| 2015 | 82.3% | $13.62 Billion | $2.42 Billion | $251.94 Billion | ▲ +34.8 pp |
| 2014 | 47.4% | $15.74 Billion | $8.28 Billion | $253.38 Billion | ▲ +15.0 pp |
| 2013 | 32.4% | $13.45 Billion | $9.09 Billion | $236.94 Billion | ▼ -21.7 pp |
| 2012 | 54.1% | $14.97 Billion | $6.88 Billion | $218.87 Billion | ▼ -21.0 pp |
| 2011 | 75.1% | $14.16 Billion | $3.53 Billion | $202.91 Billion | ▲ +11.0 pp |
| 2010 | 64.1% | $12.81 Billion | $4.60 Billion | $193.82 Billion | ▲ +9.4 pp |
| 2009 | 54.7% | $11.70 Billion | $5.30 Billion | $177.43 Billion | ▲ +4.1 pp |
| 2008 | 50.6% | $7.98 Billion | $3.94 Billion | $163.14 Billion | ▲ +16.3 pp |
| 2007 | 34.3% | $11.72 Billion | $7.70 Billion | $191.44 Billion | ▲ +4.6 pp |
| 2006 | 29.7% | $12.20 Billion | $8.57 Billion | $178.49 Billion | ▼ -55.2 pp |
| 2005 | 84.9% | $6.72 Billion | $1.01 Billion | $124.79 Billion | ▲ +2.1 pp |
| 2004 | 82.9% | $6.52 Billion | $1.12 Billion | $116.22 Billion | ▲ +2.9 pp |
| 2003 | 80.0% | $6.15 Billion | $1.23 Billion | $106.74 Billion | ▲ +2.7 pp |
| 2002 | 77.3% | $5.69 Billion | $1.29 Billion | $93.13 Billion | ▲ +1.9 pp |
| 2001 | 75.4% | $5.74 Billion | $1.41 Billion | $98.00 Billion | ▲ +2.7 pp |
| 2000 | 72.7% | $5.70 Billion | $1.56 Billion | $99.84 Billion | ▲ +7.5 pp |
| 1999 | 65.1% | $5.01 Billion | $1.75 Billion | $103.10 Billion | ▼ -4.7 pp |
| 1998 | 69.9% | $6.13 Billion | $1.85 Billion | $93.84 Billion | ▼ -18.6 pp |
| 1997 | 88.4% | $5.30 Billion | $613.91 Million | $77.17 Billion | ▲ +3.5 pp |
| 1996 | 84.9% | $4.69 Billion | $708.45 Million | $71.71 Billion | ▼ -3.0 pp |
| 1995 | 87.9% | $4.38 Billion | $528.93 Million | $63.26 Billion | ▼ -12.1 pp |
| 1994 | 100.0% | $3.04 Billion | $0.00 | $49.33 Billion | ▲ +5.6 pp |
| 1993 | 94.4% | $4.07 Billion | $228.50 Million | $48.38 Billion | ▲ +3.3 pp |
| 1992 | 91.1% | $2.95 Billion | $261.90 Million | $39.67 Billion | ▲ +3.9 pp |
| 1991 | 87.2% | $2.79 Billion | $355.70 Million | $34.09 Billion | ▲ +2.2 pp |
| 1990 | 85.0% | $2.42 Billion | $362.00 Million | $27.60 Billion | ▲ +1.2 pp |
| 1989 | 83.8% | $2.42 Billion | $390.80 Million | $25.07 Billion | ▼ -16.2 pp |
| 1988 | 100.0% | $20.49 Billion | $0.00 | $20.96 Billion | ▲ +0.0 pp |
| 1987 | 100.0% | $17.61 Billion | $0.00 | $18.00 Billion | ▲ +0.0 pp |
| 1986 | 100.0% | $16.04 Billion | $0.00 | $16.24 Billion | ▲ +0.0 pp |
| 1985 | 100.0% | $13.34 Billion | $0.00 | $13.55 Billion | — |