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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.56
LNC's Cash to Debt is ranked lower than
83% of the 92 Companies
in the Global Insurance - Life industry.

( Industry Median: 10.41 vs. LNC: 0.56 )
Ranked among companies with meaningful Cash to Debt only.
LNC' s Cash to Debt Range Over the Past 10 Years
Min: 0.19  Med: 0.75 Max: 4.7
Current: 0.56
0.19
4.7
Equity to Asset 0.06
LNC's Equity to Asset is ranked lower than
63% of the 93 Companies
in the Global Insurance - Life industry.

( Industry Median: 0.09 vs. LNC: 0.06 )
Ranked among companies with meaningful Equity to Asset only.
LNC' s Equity to Asset Range Over the Past 10 Years
Min: 0.04  Med: 0.06 Max: 0.08
Current: 0.06
0.04
0.08
Interest Coverage 4.79
LNC's Interest Coverage is ranked lower than
76% of the 63 Companies
in the Global Insurance - Life industry.

( Industry Median: 12.84 vs. LNC: 4.79 )
Ranked among companies with meaningful Interest Coverage only.
LNC' s Interest Coverage Range Over the Past 10 Years
Min: 2.04  Med: 5.95 Max: 9.05
Current: 4.79
2.04
9.05
F-Score: 5
WACC vs ROIC
12.15%
6.32%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 9.65
LNC's Operating margin (%) is ranked higher than
52% of the 92 Companies
in the Global Insurance - Life industry.

( Industry Median: 9.05 vs. LNC: 9.65 )
Ranked among companies with meaningful Operating margin (%) only.
LNC' s Operating margin (%) Range Over the Past 10 Years
Min: -6.13  Med: 12.73 Max: 22.46
Current: 9.65
-6.13
22.46
Net-margin (%) 7.86
LNC's Net-margin (%) is ranked higher than
56% of the 93 Companies
in the Global Insurance - Life industry.

( Industry Median: 7.11 vs. LNC: 7.86 )
Ranked among companies with meaningful Net-margin (%) only.
LNC' s Net-margin (%) Range Over the Past 10 Years
Min: -5.71  Med: 9.91 Max: 14.52
Current: 7.86
-5.71
14.52
ROE (%) 7.21
LNC's ROE (%) is ranked lower than
61% of the 93 Companies
in the Global Insurance - Life industry.

( Industry Median: 9.65 vs. LNC: 7.21 )
Ranked among companies with meaningful ROE (%) only.
LNC' s ROE (%) Range Over the Past 10 Years
Min: -5.29  Med: 8.31 Max: 14.16
Current: 7.21
-5.29
14.16
ROA (%) 0.42
LNC's ROA (%) is ranked lower than
72% of the 93 Companies
in the Global Insurance - Life industry.

( Industry Median: 0.74 vs. LNC: 0.42 )
Ranked among companies with meaningful ROA (%) only.
LNC' s ROA (%) Range Over the Past 10 Years
Min: -0.28  Med: 0.54 Max: 0.87
Current: 0.42
-0.28
0.87
Revenue Growth (3Y)(%) 9.90
LNC's Revenue Growth (3Y)(%) is ranked higher than
68% of the 81 Companies
in the Global Insurance - Life industry.

( Industry Median: 6.80 vs. LNC: 9.90 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
LNC' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -10  Med: 6.30 Max: 14.4
Current: 9.9
-10
14.4
EBITDA Growth (3Y)(%) 1.40
LNC's EBITDA Growth (3Y)(%) is ranked lower than
71% of the 78 Companies
in the Global Insurance - Life industry.

( Industry Median: 9.20 vs. LNC: 1.40 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
LNC' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -43.3  Med: 3.20 Max: 85.9
Current: 1.4
-43.3
85.9
EPS Growth (3Y)(%) 0.30
LNC's EPS Growth (3Y)(%) is ranked lower than
75% of the 75 Companies
in the Global Insurance - Life industry.

( Industry Median: 9.50 vs. LNC: 0.30 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
LNC' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: -63  Med: 7.60 Max: 212
Current: 0.3
-63
212
» LNC's 10-Y Financials

Financials (Next Earnings Date: Est. 2016-07-30)


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q2 2015

LNC Guru Trades in Q2 2015

Jim Simons 119,174 sh (New)
Ray Dalio 46,621 sh (+66.38%)
Pioneer Investments 1,280,961 sh (+15.02%)
David Dreman 9,298 sh (+7.14%)
John Keeley 22,857 sh (unchged)
Mairs and Power Sold Out
Joel Greenblatt 3,616 sh (-8.55%)
Jeremy Grantham 58,000 sh (-19.22%)
Ronald Muhlenkamp 208,505 sh (-32.37%)
Paul Tudor Jones 8,526 sh (-59.90%)
» More
Q3 2015

LNC Guru Trades in Q3 2015

Ken Fisher 19,145 sh (New)
Jeremy Grantham 688,688 sh (+1087.39%)
Paul Tudor Jones 20,782 sh (+143.75%)
Ray Dalio 97,621 sh (+109.39%)
Jim Simons 243,892 sh (+104.65%)
Joel Greenblatt 4,537 sh (+25.47%)
Pioneer Investments 1,479,744 sh (+15.52%)
David Dreman 9,743 sh (+4.79%)
Ronald Muhlenkamp Sold Out
John Keeley 22,107 sh (-3.28%)
» More
Q4 2015

LNC Guru Trades in Q4 2015

David Dreman Sold Out
Ray Dalio Sold Out
Joel Greenblatt Sold Out
Ken Fisher 19,119 sh (-0.14%)
Pioneer Investments 1,476,047 sh (-0.25%)
Jeremy Grantham 657,688 sh (-4.50%)
John Keeley 20,907 sh (-5.43%)
Paul Tudor Jones 18,426 sh (-11.34%)
Jim Simons 211,974 sh (-13.09%)
» More
Q1 2016

LNC Guru Trades in Q1 2016

David Dreman 7,310 sh (New)
Ray Dalio 201,026 sh (New)
John Keeley 40,647 sh (+94.42%)
Paul Tudor Jones 22,249 sh (+20.75%)
Jeremy Grantham 675,918 sh (+2.77%)
Jim Simons Sold Out
Ken Fisher Sold Out
Pioneer Investments 1,262,399 sh (-14.47%)
» More
» Details

Insider Trades

Latest Guru Trades with LNC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Insurance - Life » Insurance - Life
Compare:XPAR:CNP, LSE:SL., NYSE:UNM, JSE:SLM, SGX:G07 » details
Traded in other countries:LCO.Germany,
Lincoln National Corp is a holding company. The Company through its subsidiaries operates multiple insurance and retirement businesses.

Lincoln National Corp was organized under the laws of the state of Indiana in 1968. The Company is a holding company operating multiple insurance and retirement businesses through subsidiary companies. Through its business segments the Company sells wealth protection, accumulation and retirement income products and solutions. Its products include fixed and indexed annuities, variable annuities, universal life insurance, variable universal life insurance, linked-benefit UL, term life insurance, indexed universal life insurance, employer-sponsored retirement plans and services, and group life, disability and dental. The Company provides products and services through four segments as follow: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Company's Annuities segment provides tax-deferred investment growth and lifetime income opportunities for its clients by offering fixed (including indexed) and variable annuities. The Company's Retirement Plan Services segment provides employers with retirement plan products and services, mainly in the defined contribution retirement plan marketplace. The Company's Life Insurance segment is engaged in the creation and protection of wealth for its clients by providing life insurance products, including term insurance, a linked-benefit product, indexed UL, and both single and survivorship versions of UL and VUL products. The Company's Protection segment offers group non-medical insurance products, including term life, disability and dental, to the employer marketplace through various forms of contributory and noncontributory plans. The Company faces competition from insurers, broker-dealers, financial advisors, asset managers, hedge funds and other financial institutions. The Company's business is subject to regulation and supervision by the states, territories and countries in which is licensed to do business.

Guru Investment Theses on Lincoln National Corp

Keeley Funds Comments on Lincoln National Corporation - May 06, 2016

Another financial holding, Lincoln National Corporation (NYSE:LNC), declined over 20% as falling interest rates dimmed its earnings outlook. In addition, the Department of Labor’s new fiduciary rule could negatively impact annuity sales, an important source of business for Lincoln National. Despite these challenges the stock appears cheap and we believe it will be able to blunt the negative impact more than investors anticipate.





From the Keeley Mid-Cap Dividend Fund first quarter 2016 commentary.



Check out John Keeley latest stock trades

Top Ranked Articles about Lincoln National Corp

Keeley Funds Comments on Lincoln National Corporation Guru stock highlight
Another financial holding, Lincoln National Corporation (NYSE:LNC), declined over 20% as falling interest rates dimmed its earnings outlook. In addition, the Department of Labor’s new fiduciary rule could negatively impact annuity sales, an important source of business for Lincoln National. Despite these challenges the stock appears cheap and we believe it will be able to blunt the negative impact more than investors anticipate. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 11.00
LNC's P/E(ttm) is ranked higher than
59% of the 87 Companies
in the Global Insurance - Life industry.

( Industry Median: 12.50 vs. LNC: 11.00 )
Ranked among companies with meaningful P/E(ttm) only.
LNC' s P/E(ttm) Range Over the Past 10 Years
Min: 2.47  Med: 11.36 Max: 109.84
Current: 11
2.47
109.84
Forward P/E 6.40
LNC's Forward P/E is ranked higher than
91% of the 33 Companies
in the Global Insurance - Life industry.

( Industry Median: 11.67 vs. LNC: 6.40 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 10.86
LNC's PE(NRI) is ranked higher than
62% of the 86 Companies
in the Global Insurance - Life industry.

( Industry Median: 12.53 vs. LNC: 10.86 )
Ranked among companies with meaningful PE(NRI) only.
LNC' s PE(NRI) Range Over the Past 10 Years
Min: 2.16  Med: 11.34 Max: 223.33
Current: 10.86
2.16
223.33
Price/Owner Earnings (ttm) 13.34
LNC's Price/Owner Earnings (ttm) is ranked lower than
57% of the 51 Companies
in the Global Insurance - Life industry.

( Industry Median: 10.32 vs. LNC: 13.34 )
Ranked among companies with meaningful Price/Owner Earnings (ttm) only.
LNC' s Price/Owner Earnings (ttm) Range Over the Past 10 Years
Min: 10.09  Med: 13.64 Max: 17.53
Current: 13.34
10.09
17.53
P/B 0.76
LNC's P/B is ranked higher than
69% of the 91 Companies
in the Global Insurance - Life industry.

( Industry Median: 1.19 vs. LNC: 0.76 )
Ranked among companies with meaningful P/B only.
LNC' s P/B Range Over the Past 10 Years
Min: 0.17  Med: 0.85 Max: 2.54
Current: 0.76
0.17
2.54
P/S 0.86
LNC's P/S is ranked higher than
58% of the 90 Companies
in the Global Insurance - Life industry.

( Industry Median: 1.04 vs. LNC: 0.86 )
Ranked among companies with meaningful P/S only.
LNC' s P/S Range Over the Past 10 Years
Min: 0.15  Med: 1.01 Max: 2
Current: 0.86
0.15
2
POCF 5.20
LNC's POCF is ranked lower than
52% of the 63 Companies
in the Global Insurance - Life industry.

( Industry Median: 4.45 vs. LNC: 5.20 )
Ranked among companies with meaningful POCF only.
LNC' s POCF Range Over the Past 10 Years
Min: 1.71  Med: 6.32 Max: 22.04
Current: 5.2
1.71
22.04
EV-to-EBIT 8.53
LNC's EV-to-EBIT is ranked higher than
50% of the 72 Companies
in the Global Insurance - Life industry.

( Industry Median: 8.33 vs. LNC: 8.53 )
Ranked among companies with meaningful EV-to-EBIT only.
LNC' s EV-to-EBIT Range Over the Past 10 Years
Min: -27.3  Med: 7.80 Max: 15.5
Current: 8.53
-27.3
15.5
EV-to-EBITDA 8.53
LNC's EV-to-EBITDA is ranked lower than
53% of the 72 Companies
in the Global Insurance - Life industry.

( Industry Median: 7.94 vs. LNC: 8.53 )
Ranked among companies with meaningful EV-to-EBITDA only.
LNC' s EV-to-EBITDA Range Over the Past 10 Years
Min: -35.7  Med: 7.70 Max: 14.4
Current: 8.53
-35.7
14.4
PEG 0.68
LNC's PEG is ranked higher than
70% of the 47 Companies
in the Global Insurance - Life industry.

( Industry Median: 1.22 vs. LNC: 0.68 )
Ranked among companies with meaningful PEG only.
LNC' s PEG Range Over the Past 10 Years
Min: 0.22  Med: 0.46 Max: 2.84
Current: 0.68
0.22
2.84
Shiller P/E 14.91
LNC's Shiller P/E is ranked higher than
66% of the 41 Companies
in the Global Insurance - Life industry.

( Industry Median: 15.55 vs. LNC: 14.91 )
Ranked among companies with meaningful Shiller P/E only.
LNC' s Shiller P/E Range Over the Past 10 Years
Min: 1.72  Med: 12.68 Max: 20
Current: 14.91
1.72
20

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.96
LNC's Dividend Yield is ranked lower than
99.99% of the 117 Companies
in the Global Insurance - Life industry.

( Industry Median: 4.06 vs. LNC: 1.96 )
Ranked among companies with meaningful Dividend Yield only.
LNC' s Dividend Yield Range Over the Past 10 Years
Min: 0.12  Med: 1.33 Max: 27.13
Current: 1.96
0.12
27.13
Dividend Payout 0.26
LNC's Dividend Payout is ranked higher than
68% of the 88 Companies
in the Global Insurance - Life industry.

( Industry Median: 0.30 vs. LNC: 0.26 )
Ranked among companies with meaningful Dividend Payout only.
LNC' s Dividend Payout Range Over the Past 10 Years
Min: 0.01  Med: 0.33 Max: 4
Current: 0.26
0.01
4
Dividend Growth (3y) 63.60
LNC's Dividend Growth (3y) is ranked higher than
92% of the 50 Companies
in the Global Insurance - Life industry.

( Industry Median: 13.60 vs. LNC: 63.60 )
Ranked among companies with meaningful Dividend Growth (3y) only.
LNC' s Dividend Growth (3y) Range Over the Past 10 Years
Min: -67.3  Med: 5.00 Max: 81.7
Current: 63.6
-67.3
81.7
Forward Dividend Yield 2.22
LNC's Forward Dividend Yield is ranked lower than
91% of the 117 Companies
in the Global Insurance - Life industry.

( Industry Median: 5.42 vs. LNC: 2.22 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 21.57
LNC's Yield on cost (5-Year) is ranked higher than
98% of the 115 Companies
in the Global Insurance - Life industry.

( Industry Median: 5.82 vs. LNC: 21.57 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
LNC' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 1.29  Med: 14.34 Max: 292.57
Current: 21.57
1.29
292.57
3-Year Average Share Buyback Ratio 3.50
LNC's 3-Year Average Share Buyback Ratio is ranked higher than
91% of the 67 Companies
in the Global Insurance - Life industry.

( Industry Median: -0.50 vs. LNC: 3.50 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
LNC' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -16.6  Med: 2.10 Max: 5.9
Current: 3.5
-16.6
5.9

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.16
LNC's Price/Tangible Book is ranked lower than
84% of the 88 Companies
in the Global Insurance - Life industry.

( Industry Median: 1.58 vs. LNC: 3.16 )
Ranked among companies with meaningful Price/Tangible Book only.
LNC' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.43  Med: 2.10 Max: 11.79
Current: 3.16
0.43
11.79
Price/Projected FCF 0.94
LNC's Price/Projected FCF is ranked lower than
69% of the 55 Companies
in the Global Insurance - Life industry.

( Industry Median: 0.56 vs. LNC: 0.94 )
Ranked among companies with meaningful Price/Projected FCF only.
LNC' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.29  Med: 1.12 Max: 1.98
Current: 0.94
0.29
1.98
Price/Median PS Value 0.83
LNC's Price/Median PS Value is ranked higher than
83% of the 84 Companies
in the Global Insurance - Life industry.

( Industry Median: 1.02 vs. LNC: 0.83 )
Ranked among companies with meaningful Price/Median PS Value only.
LNC' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.19  Med: 1.18 Max: 1.85
Current: 0.83
0.19
1.85
Price/Peter Lynch Fair Value 0.52
LNC's Price/Peter Lynch Fair Value is ranked higher than
76% of the 33 Companies
in the Global Insurance - Life industry.

( Industry Median: 0.95 vs. LNC: 0.52 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
LNC' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 0.44  Med: 0.78 Max: 8.09
Current: 0.52
0.44
8.09
Price/Graham Number 1.22
LNC's Price/Graham Number is ranked lower than
69% of the 77 Companies
in the Global Insurance - Life industry.

( Industry Median: 0.90 vs. LNC: 1.22 )
Ranked among companies with meaningful Price/Graham Number only.
LNC' s Price/Graham Number Range Over the Past 10 Years
Min: 0.47  Med: 1.15 Max: 5.92
Current: 1.22
0.47
5.92
Earnings Yield (Greenblatt) (%) 11.72
LNC's Earnings Yield (Greenblatt) (%) is ranked higher than
60% of the 89 Companies
in the Global Insurance - Life industry.

( Industry Median: 10.20 vs. LNC: 11.72 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
LNC' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 6.4  Med: 12.70 Max: 93.2
Current: 11.72
6.4
93.2
Forward Rate of Return (Yacktman) (%) 20.44
LNC's Forward Rate of Return (Yacktman) (%) is ranked higher than
53% of the 58 Companies
in the Global Insurance - Life industry.

( Industry Median: 14.97 vs. LNC: 20.44 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
LNC' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -8.5  Med: 21.30 Max: 52.1
Current: 20.44
-8.5
52.1

More Statistics

Revenue (TTM) (Mil) $13,512
EPS (TTM) $ 4.17
Beta1.95
Short Percentage of Float1.83%
52-Week Range $30.39 - 62.08
Shares Outstanding (Mil)239.01

Analyst Estimate

Dec16 Dec17 Dec18
Revenue (Mil $) 13,859 14,308 14,870
EPS ($) 6.39 7.03 7.72
EPS without NRI ($) 6.39 7.03 7.72
EPS Growth Rate
(3Y to 5Y Estimate)
N/A
» More Articles for LNC

Headlines

Articles On GuruFocus.com
Keeley Funds Comments on Lincoln National Corporation May 06 2016 
KEELEY Mid Cap Dividend Value Fund First Quarter Commentary May 06 2016 
Stocks Trading Below Their Graham Number - February Feb 17 2016 
10 Most Undervalued Companies for the Enterprising Investor - February Feb 13 2016 
5 Undervalued Companies With High Beta - January Jan 31 2016 
Stocks Trading Below Their Graham Number - January Jan 27 2016 
5 Undervalued Companies for Value Investors with a High Beta Nov 17 2015 
10 Most Undervalued Companies for the Enterprising Investor - November Nov 14 2015 
Muhlenkamp's Sales Outnumber Buys in Quarter Nov 09 2015 
Ten Low PE Stocks for the Enterprising Investor – August 2015 Aug 28 2015 

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