Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Lincoln National's annualized net income for the quarter that ended in Mar. 2026 was €-595 Mil. Lincoln National's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €8,090 Mil. Therefore, Lincoln National's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -7.36%.
The historical rank and industry rank for Lincoln National's Return-on-Tangible-Equity or its related term are showing as below:
STU:LCO'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -15.49 Med: 11.68 Max: 50.88
Current: 19.8
During the past 13 years, Lincoln National's highest Return-on-Tangible-Equity was 50.88%. The lowest was -15.49%. And the median was 11.68%.
STU:LCO's Return-on-Tangible-Equity is ranked better than 67.33% of 499
companies
in the Insurance industry
Industry Median: 13.32
vs STU:LCO: 19.80
Lincoln National (STU:LCO) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Lincoln National Return-on-Tangible-Equity Related Terms
Lincoln National Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Lincoln National's Return-on-Tangible-Equity 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.
STU:LCO vs JXN, PRI, CNO: Return-on-Tangible-Equity Comparison
For the Insurance - Life subindustry, Lincoln National's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, Lincoln National's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Lincoln National's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -7.36% mean?
Lincoln National (STU:LCO) has a Return-on-Tangible-Equity of -7.36% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Lincoln National and its competitors. According to the industry distribution chart, Lincoln National ranks #163 out of 499 companies in the Insurance industry, placing it in the top 32.7%.
Is Lincoln National's Return-on-Tangible-Equity too high?
Lincoln National's current Return-on-Tangible-Equity is -7.36%. Based on the distribution chart, Lincoln National ranks #163 out of 499 companies in the Insurance industry, which is above the industry midpoint. Overall, Lincoln National has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lincoln National's Return-on-Tangible-Equity compare to JXN and PRI?
According to the Insurance industry distribution chart, Lincoln National ranks #163 out of 499 companies for Return-on-Tangible-Equity. This puts Lincoln National in the upper half of its industry. The industry median Return-on-Tangible-Equity is 13.32. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Insurance company?
The median Return-on-Tangible-Equity among Insurance companies is 13.32, based on 499 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Lincoln National and its competitors. For the Insurance industry, the median Return-on-Tangible-Equity is 13.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lincoln National's current Return-on-Tangible-Equity is -7.36%. 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 (STU:LCO) is currently considered Modestly Undervalued. The stock's GF Value™ is €38.84, compared to a current price of €34.85 — trading 10.3% below its estimated fair value. The current Return-on-Tangible-Equity is -7.36%. Lincoln National's overall GF Score™ is 70/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Lincoln National (STU:LCO), the current Return-on-Tangible-Equity is -7.36% as of Mar. 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 (STU:LCO) Overvalued in 2026?
Based on GuruFocus' analysis, Lincoln National stock appears to be undervalued.
The current stock price of €34.85 is trading 10.3% below its estimated GF Value™ of €38.84.
GuruFocus considers Lincoln National to be Modestly Undervalued.
Key valuation signals for STU:LCO:
Return-on-Tangible-Equity: -7.36%
GF Value™: €38.84 vs. price of €34.85 (10.3% below fair value)
No single metric tells the full story. See the STU: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.
70GF Score
Get the complete analysis for STU:LCO
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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