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Lincoln NationalFRA:LCO -0.81%65 EV-to-EBITDA is 1.97 as of Aug. 12, 2026, which is 74% below its 10-year median of 7.56. GuruFocus rates FRA:LCO with a GF Score™ of 65/100 and a GF Value™ of €39.86 (Fairly Valued). The stock has 7 warning signs investors should review. Among 348 Insurance companies, Lincoln National ranks better than 92.82% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Lincoln National's enterprise value is €5,363 Mil.
Lincoln National's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was €2,719 Mil. Therefore, Lincoln National's EV-to-EBITDA for today is 1.97.
The historical rank and industry rank for Lincoln National's EV-to-EBITDA or its related term are showing as below:
FRA:LCO'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -11.28 Med: 7.56 Max: 24.59
Current: 1.96
During the past 13 years, the highest EV-to-EBITDA of Lincoln National was 24.59. The lowest was -11.28. And the median was 7.56.
FRA:LCO's EV-to-EBITDA is ranked better than 92.82% of 348
companies
in the Insurance industry
Industry Median: 8.11
vs FRA:LCO: 1.96
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
Lincoln National (FRA:LCO) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Lincoln National's PE Ratio (TTM) for today is calculated as:
Lincoln National's share price for today is €39.25.
Lincoln National's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €9.933.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Lincoln National's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Insurance - Life subindustry, Lincoln National's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lincoln National EV-to-EBITDA vs Insurance Industry
For the Insurance industry and Financial Services sector, Lincoln National's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Lincoln National's EV-to-EBITDA falls into.
Lincoln National's current Enterprise Value is €5,363 Mil.
Lincoln National's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,719 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Lincoln National (FRA:LCO) has a EV-to-EBITDA of 1.97 as of Aug. 12, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Lincoln National. This is 74% below median its historical median of 7.56. According to the industry distribution chart, Lincoln National ranks #25 out of 348 companies in the Insurance industry, placing it in the top 7.2%.
Is Lincoln National's EV-to-EBITDA too high?
Lincoln National's current EV-to-EBITDA of 1.97 is 74% below median its 10-year median of 7.56. The Insurance industry median EV-to-EBITDA is 8.11. Lincoln National's value of 1.97 is 75.7% below this industry median. Based on the distribution chart, Lincoln National ranks #25 out of 348 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Lincoln National has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lincoln National's EV-to-EBITDA compare to JXN and PRI?
According to the Insurance industry distribution chart, Lincoln National ranks #25 out of 348 companies for EV-to-EBITDA. This places Lincoln National in the top 7% of its industry — outperforming the majority of peers. The industry median EV-to-EBITDA is 8.11. Lincoln National's value of 1.97 is 75.7% below this benchmark. While the company's 10-year median is 7.56 vs. the industry median of 8.11, Lincoln National has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Insurance company?
The median EV-to-EBITDA among Insurance companies is 8.11, based on 348 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lincoln National's current EV-to-EBITDA of 1.97 is 75.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Lincoln National. For the Insurance industry, the median EV-to-EBITDA is 8.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lincoln National's current EV-to-EBITDA is 1.97, which is 74% below median its own 10-year median of 7.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lincoln National stock overvalued right now?
Based on GuruFocus' analysis, Lincoln National (FRA:LCO) is currently considered Fairly Valued. The stock's GF Value™ is €39.86, compared to a current price of €39.25 — trading 1.5% below its estimated fair value. The current EV-to-EBITDA is 1.97, which is 74% below median its 10-year median of 7.56 and 75.7% below the Insurance industry median of 8.11. Lincoln National's overall GF Score™ is 65/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Lincoln National (FRA:LCO), the current EV-to-EBITDA is 1.97 as of Aug. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lincoln National (FRA:LCO) Overvalued in 2026?
Based on GuruFocus' analysis, Lincoln National stock appears to be undervalued.
The current stock price of €39.25 is trading 1.5% below its estimated GF Value™ of €39.86.
GuruFocus considers Lincoln National to be Fairly Valued.
Key valuation signals for FRA:LCO:
EV-to-EBITDA: 1.97 (74% below median its 10-year median of 7.56)
GF Value™: €39.86 vs. price of €39.25 (1.5% below fair value)
Industry Position: 75.7% below the Insurance median (#25 of 348)
No single metric tells the full story. See the FRA:LCO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lincoln National Corp operates multiple insurance and retirement businesses. The company's operating segment includes Annuities; Retirement Plan Services; Life Insurance and Group Protection. Its products include fixed and indexed annuities, variable annuities, universal life insurance (UL), variable universal life insurance (VUL), linked-benefit UL and VUL, indexed universal life insurance (IUL), term life insurance, employer-sponsored retirement plans and services, and group life, disability, and dental.
65GF Score
Get the complete analysis for FRA:LCO
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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