Revenue
4.54 billion USD
2026 Q2 · USD
Exact inputs and evidence
- Revenue: 4542000000 USD Source
Fundies. English
Lincoln National Corporation
EDGARAnnual consolidated revenue for 2025: about USD 18.21B, using the latest reported figures. The previous period, 2024, was about USD 18.44B.
Latest quarter
Net margin
29.33%
2026 Q2 · %
Operating cash flow
-558 million USD
2026 Q2 · USD
- Cash and cash equivalents
- 1.63 billion Unit12 Source
Exact value
1628000000 Unit12
- Long-term debt including current maturities
- 6.47 billion USD Source
Exact value
6465000000 USD
- Shares outstanding
- 191 million shares Source
Exact value
191425371 shares
Reported share-count change
0.98% · 1.85 million shares
Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-07-30.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 5 of 11 periods available· newest 2025-12-31
- operating income: No compatible figures in this window
- Net income: 5 of 11 periods available· newest 2025-12-31
- Operating cash flow: 5 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 4 of 11 periods available· newest 2025-12-31
- Total liabilities: 4 of 11 periods available· newest 2025-12-31
- current assets: No compatible figures in this window
- current liabilities: No compatible figures in this window
- Cash and cash equivalents: 3 of 11 periods available· newest 2017-12-31
- Long-term debt including current maturities: 3 of 11 periods available· newest 2025-12-31
- Shares outstanding: 6 of 11 periods available· newest 2025-12-31
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
-1.2%Prior period
USD 18.44 billion
–
Current period
USD 18.21 billion
–
Exact inputs and evidence
18212000000 − 18442000000 = -230000000 USD
18442000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source18212000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
-64.1%Prior period
USD 3.28 billion
–
Current period
USD 1.18 billion
–
Exact inputs and evidence
1177000000 − 3275000000 = -2098000000 USD
3275000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source1177000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+USD 1.84 billionPrior period
−USD 2.01 billion
–
Current period
−USD 167 million
–
Exact inputs and evidence
-167000000 − -2007000000 = 1840000000 USD
-2007000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source-167000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 18.21 billion 100% of revenue
- Operating costs Derived Unavailable An input is unavailable.
- Operating income Unavailable An input is unavailable.
- Tax, interest and other Derived Unavailable An input is unavailable.
- Net income USD 1.18 billion 6.5% of revenue
Cash
- Operating cash flow −USD 167 million −0.9% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2021 Not shown: operating income or net income is not reported.
- 2022 Not shown: operating income or net income is not reported.
- 2023 Not shown: operating income or net income is not reported.
- 2024 Not shown: operating income or net income is not reported.
- 2025 Not shown: operating income or net income is not reported.
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2021 2021-01-01 – 2021-12-31 | 17715000000 | Unavailable | Unavailable | Unavailable | 3778000000 | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 18810000000 | Unavailable | Unavailable | Unavailable | 1358000000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 11645000000 | Unavailable | Unavailable | Unavailable | -752000000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 18442000000 | Unavailable | Unavailable | Unavailable | 3275000000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 18212000000 | Unavailable | Unavailable | Unavailable | 1177000000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 18.2B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2021 | Revenue | 17715000000 |
|
| 2022 | Revenue | 18810000000 |
|
| 2023 | Revenue | 11645000000 |
|
| 2024 | Revenue | 18442000000 |
|
| 2025 | Revenue | 18212000000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
-1.2% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2021 | Year over year | No prior comparable period |
|
| 2022 | Year over year | 6.2% |
|
| 2023 | Year over year | -38.1% |
|
| 2024 | Year over year | 58.4% |
|
| 2025 | Year over year | -1.2% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Net margin 6.5% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2021-12-31 | Operating margin | Not reported |
|
| 2022-12-31 | Operating margin | Not reported |
|
| 2023-12-31 | Operating margin | Not reported |
|
| 2024-12-31 | Operating margin | Not reported |
|
| 2025-12-31 | Operating margin | Not reported |
|
| 2021 | Net margin | 21.3% |
|
| 2022 | Net margin | 7.2% |
|
| 2023 | Net margin | -6.5% |
|
| 2024 | Net margin | 17.8% |
|
| 2025 | Net margin | 6.5% |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD -167M 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2021 | Operating cash flow | -217000000 |
|
| 2022 | Operating cash flow | 3609000000 |
|
| 2023 | Operating cash flow | -2074000000 |
|
| 2024 | Operating cash flow | -2007000000 |
|
| 2025 | Operating cash flow | -167000000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
97.4% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2021-12-31 | Liabilities / assets | Not reported | No source recorded |
| 2022 | Liabilities / assets | 98.5% |
|
| 2023 | Liabilities / assets | 98.1% |
|
| 2024 | Liabilities / assets | 97.9% |
|
| 2025 | Liabilities / assets | 97.4% |
|
Current assets to current liabilities
Current assets divided by current liabilities.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2021-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2022-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2023-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2024-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2025-12-31 | Current assets / current liabilities | Not reported | No source recorded |
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2021 2021-01-01 – 2021-12-31 | USD 3.78 billion Exact valueExact value: 3778000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 217 million Exact valueExact value: -217000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | USD 1.36 billion Exact valueExact value: 1358000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.61 billion Exact valueExact value: 3609000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | −USD 752 million Exact valueExact value: -752000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 2.07 billion Exact valueExact value: -2074000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | USD 3.28 billion Exact valueExact value: 3275000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 2.01 billion Exact valueExact value: -2007000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | USD 1.18 billion Exact valueExact value: 1177000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | −USD 167 million Exact valueExact value: -167000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
196 filings · 7,855 latest values · 7,855 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000059558, 59558, LNC, LNC-PD, edgar:59558
Also known as LINCOLN NATIONAL CORP, LINCOLN NATIONAL CORP ET AL, LINCOLN NATIONAL CORPORATION, Lincoln National Corporation