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Lincoln National Valuation Multiples
Discover revenue and EBITDA valuation multiples for Lincoln National and similar public comparables like Bupa Arabia, OUTsurance Group, Hiscox, Porto and more.
Lincoln National Overview
About Lincoln National
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.
Founded
1968
HQ
Employees
9.4K
Website
Sectors
Financials (LTM)
EV
$4B
Lincoln National Financials
Lincoln National reported last 12-month revenue of $19B and EBITDA of $2B.
In the same LTM period, Lincoln National generated $2B in EBITDA and $2B in net income.
Revenue (LTM)
Lincoln National P&L
In the most recent fiscal year, Lincoln National reported revenue of $19B and EBITDA of $2B.
Lincoln National expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $19B | XXX | $19B | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| EBIT Margin | 11% | XXX | 12% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Net Margin | 8% | XXX | 8% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Lincoln National Stock Performance
Lincoln National has current market cap of $7B, and enterprise value of $4B.
Market Cap Evolution
Lincoln National's stock price is $34.50.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $4B | $7B | 0.0% | XXX | XXX | XXX | $8.09 |
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Start Free TrialLincoln National Valuation Multiples
Lincoln National trades at 0.2x EV/Revenue multiple, and 2.0x EV/EBITDA.
EV / Revenue (LTM)
Lincoln National Financial Valuation Multiples
As of March 23, 2026, Lincoln National has market cap of $7B and EV of $4B.
Equity research analysts estimate Lincoln National's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Lincoln National has a P/E ratio of 4.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV (current) | $4B | XXX | $4B | XXX | XXX | XXX |
| EV/Revenue | 0.2x | XXX | 0.2x | XXX | XXX | XXX |
| EV/EBITDA | 2.0x | XXX | 2.0x | XXX | XXX | XXX |
| EV/EBIT | 2.1x | XXX | 2.0x | XXX | XXX | XXX |
| P/E | 4.2x | XXX | 4.3x | XXX | XXX | XXX |
| EV/FCF | 16.4x | XXX | 16.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Lincoln National Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Lincoln National Margins & Growth Rates
Lincoln National's revenue in the last 12 month grew by 5%.
Lincoln National's revenue per employee in the last FY averaged $2.0M.
Lincoln National's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Lincoln National's rule of X is 23% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Lincoln National Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | 3% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 16% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 23% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.0M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 28% | XXX | 14% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Lincoln National Public Comps
See public comps and valuation multiples for other Insurance Carriers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Bupa Arabia | XXX | XXX | XXX | XXX | XXX | XXX |
| OUTsurance Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Hiscox | XXX | XXX | XXX | XXX | XXX | XXX |
| Porto | XXX | XXX | XXX | XXX | XXX | XXX |
| Sony Financial | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Lincoln National M&A Activity
Lincoln National acquired XXX companies to date.
Last acquisition by Lincoln National was on XXXXXXXX, XXXXX. Lincoln National acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Lincoln National
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialLincoln National Investment Activity
Lincoln National invested in XXX companies to date.
Lincoln National made its latest investment on XXXXXXXX, XXXXX. Lincoln National invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Lincoln National
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Lincoln National
| When was Lincoln National founded? | Lincoln National was founded in 1968. |
| Where is Lincoln National headquartered? | Lincoln National is headquartered in United States. |
| How many employees does Lincoln National have? | As of today, Lincoln National has over 9K employees. |
| Who is the CEO of Lincoln National? | Lincoln National's CEO is Ellen G. Cooper. |
| Is Lincoln National publicly listed? | Yes, Lincoln National is a public company listed on NYSE. |
| What is the stock symbol of Lincoln National? | Lincoln National trades under LNC ticker. |
| When did Lincoln National go public? | Lincoln National went public in 1969. |
| Who are competitors of Lincoln National? | Lincoln National main competitors are Bupa Arabia, OUTsurance Group, Hiscox, Porto. |
| What is the current market cap of Lincoln National? | Lincoln National's current market cap is $7B. |
| What is the current revenue of Lincoln National? | Lincoln National's last 12 months revenue is $19B. |
| What is the current revenue growth of Lincoln National? | Lincoln National revenue growth (NTM/LTM) is 5%. |
| What is the current EV/Revenue multiple of Lincoln National? | Current revenue multiple of Lincoln National is 0.2x. |
| Is Lincoln National profitable? | Yes, Lincoln National is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Lincoln National? | Lincoln National's last 12 months EBITDA is $2B. |
| What is Lincoln National's EBITDA margin? | Lincoln National's last 12 months EBITDA margin is 12%. |
| What is the current EV/EBITDA multiple of Lincoln National? | Current EBITDA multiple of Lincoln National is 2.0x. |
| What is the current FCF of Lincoln National? | Lincoln National's last 12 months FCF is $273M. |
| What is Lincoln National's FCF margin? | Lincoln National's last 12 months FCF margin is 1%. |
| What is the current EV/FCF multiple of Lincoln National? | Current FCF multiple of Lincoln National is 16.4x. |
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