LINCOLN NATIONAL CORPLNCEarnings & Financial Report
Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.
LNC Q4 FY2025 Key Financial Metrics
Revenue
$4.9B
Gross Profit
N/A
Operating Profit
$915.0M
Net Profit
$755.0M
Gross Margin
N/A
Operating Margin
18.6%
Net Margin
15.3%
YoY Growth
-2.8%
EPS
$4.32
LINCOLN NATIONAL CORP Q4 FY2025 Financial Summary
LINCOLN NATIONAL CORP reported revenue of $4.9B (down 2.8% YoY) for Q4 FY2025, with a net profit of $755.0M (down 55.2% YoY) (15.3% margin).
Key Financial Metrics
| Total Revenue | $4.9B |
|---|---|
| Net Profit | $755.0M |
| Gross Margin | N/A |
| Operating Margin | 18.6% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
LINCOLN NATIONAL CORP Q4 FY2025 revenue of $4.9B breaks down across 4 segments, led by Life Segment at $1.6B (33.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Life Segment | $1.6B | 33.4% |
| Group Protection Segment | $1.5B | 31.2% |
| Annuities Segment | $1.3B | 26.6% |
| Other | $435.0M | 8.8% |
LINCOLN NATIONAL CORP Revenue by Segment — Quarterly Trend
LINCOLN NATIONAL CORP revenue by segment across the last 4 reported quarters, showing how each business line (such as Life Segment and Group Protection Segment) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Life Segment | $1.6B | $1.6B | $1.6B | $1.6B |
| Group Protection Segment | $1.5B | $1.5B | $1.5B | $1.5B |
| Annuities Segment | $1.3B | $1.3B | — | $1.2B |
| Other | $435.0M | — | $573.0M | $378.0M |
LINCOLN NATIONAL CORP Annual Revenue by Year
LINCOLN NATIONAL CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $18.2B).
LINCOLN NATIONAL CORP Quarterly Revenue & Net Profit History
LINCOLN NATIONAL CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $4.9B | -2.8% | $755.0M | 15.3% |
| Q3 FY2025 | $4.6B | +10.8% | $445.0M | 9.8% |
| Q2 FY2025 | $4.0B | -21.5% | $699.0M | 17.3% |
| Q1 FY2025 | $4.7B | +14.0% | $-722.0M | -15.4% |
| Q4 FY2024 | $5.1B | +624.2% | $1.7B | 33.3% |
| Q3 FY2024 | $4.1B | -2.2% | $-528.0M | -12.8% |
| Q2 FY2024 | $5.2B | +75.9% | $895.0M | 17.4% |
| Q1 FY2024 | $4.1B | +7.9% | $1.2B | 29.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.12B | $5.15B | $4.11B | $5.06B | $4.69B | $4.04B | $4.55B | $4.92B |
| YoY Growth | 7.9% | 75.9% | -2.2% | 624.2% | 14.0% | -21.5% | 10.8% | -2.8% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $383.38B | $384.53B | $396.84B | $390.83B | $382.90B | $399.06B | $415.27B | $417.20B |
| Liabilities | $375.83B | $376.58B | $387.83B | $382.56B | $374.70B | $389.52B | $404.82B | $406.30B |
| Equity | $7.55B | $7.95B | $9.01B | $8.27B | $8.19B | $9.55B | $10.45B | $10.91B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-1.34B | $-859.0M | $-27.0M | $222.0M | $-272.0M | $1.01B | $-1.14B | $233.0M |