Lincoln National (LTS:0JV3) Scaled Net Operating Assets: -0.04 (As of Mar. 2026)

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LTS:0JV3 Lincoln National Corp LTS:0JV3
72 GF Score
Price $42.03
GF Value $45.06
Valuation Fairly Valued
! 7 Warning Signs
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What is Lincoln National Scaled Net Operating Assets?

Lincoln National LTS:0JV3 +1.20% 72 Scaled Net Operating Assets is -0.04 as of Mar. 2026. GuruFocus rates LTS:0JV3 with a GF Score™ of 72/100 and a GF Value™ of $45.06 (Fairly Valued). The stock has 7 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Lincoln National's operating assets for the quarter that ended in Mar. 2026 was $371,386 Mil. Lincoln National's operating liabilities for the quarter that ended in Mar. 2026 was $389,580 Mil. Lincoln National's Total Assets for the quarter that ended in Dec. 2025 was $417,204 Mil. Therefore, Lincoln National's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was -0.04.

LTS:0JV3
72GF Score
Lincoln National Corp LTS:0JV3
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Lincoln National Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Lincoln National's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(407702-399867)/390831
=0.02

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=417204 - 9502
=407702

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=406298 - 6031 - 400
=399867

Lincoln National's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(371386-389580)/417204
=-0.04

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=406161 - 34775
=371386

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=395949 - 5969 - 400
=389580

* 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.

What does a Scaled Net Operating Assets of -0.04 mean?
Lincoln National (LTS:0JV3) has a Scaled Net Operating Assets of -0.04 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Lincoln National and its competitors.
Is Lincoln National's Scaled Net Operating Assets too high?
Lincoln National's current Scaled Net Operating Assets is -0.04. Overall, Lincoln National has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lincoln National's Scaled Net Operating Assets compare to JXN and PRI?
Lincoln National's Scaled Net Operating Assets of -0.04 can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Insurance company?
A good Scaled Net Operating Assets depends on the Insurance industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Lincoln National and its competitors. Lincoln National's current Scaled Net Operating Assets is -0.04. 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 (LTS:0JV3) is currently considered Fairly Valued. The stock's GF Value™ is $45.06, compared to a current price of $42.03 — trading 6.7% below its estimated fair value. The current Scaled Net Operating Assets is -0.04. Lincoln National's overall GF Score™ is 72/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Lincoln National (LTS:0JV3), the current Scaled Net Operating Assets is -0.04 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 (LTS:0JV3) Overvalued in 2026?

Based on GuruFocus' analysis, Lincoln National stock appears to be undervalued. The current stock price of $42.03 is trading 6.7% below its estimated GF Value™ of $45.06. GuruFocus considers Lincoln National to be Fairly Valued.

Key valuation signals for LTS:0JV3:

  • Scaled Net Operating Assets: -0.04
  • GF Value™: $45.06 vs. price of $42.03 (6.7% below fair value)
  • GF Score™: 72/100 with 7 warning signs

No single metric tells the full story. See the LTS:0JV3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Lincoln National Business Description

Address 150 North Radnor-Chester Road, Suite A305, Radnor, PA, USA, 19087
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.
72GF Score

Get the complete analysis for LTS:0JV3

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$42.03
Price
$45.06
GF Value