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Lincoln National LNC Annuities — Net investment income

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Other financials

Income statement

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Revenue$5.3B+13.1%
Net income-$172.0M+76.2%
EPS (diluted)-$1.10+75.1%

Balance sheet

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Cash & equivalents$7.3B+71.5%
Total debt$6.4B+8.5%
Total equity$10.2B+24.6%
Total assets$406.16B+6.1%

Cash flow

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Operating cash flow$138.0M+151%

Valuation

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Market cap$8.98B+20.1%
Enterprise value$8B+31.2%
P/E5.2×-1.4×
P/S0.5×+0.1×

Profitability

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Net margin9.2%+2.2pp

Returns & leverage

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Return on equity18.8%+1.8pp
Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Lincoln National in its filing.

Tagged under the XBRL concept us-gaap:NetInvestmentIncome.

The source filing: Lincoln National’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 4:23 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000059558-26-000035
Line itemFor the Three Months Ended March 31, 20262025
Net Investment Income
Annuities$538$452
Life Insurance659626
Group Protection9689
Retirement Plan Services260251
Other Operations5244
Total net investment income$1,605$1,462

Item 1. Financial Statements

FAQ

What is Lincoln National's annuities — net investment income?
Lincoln National (LNC) reported annuities — net investment income of $538M in Q1 2026.
How has Lincoln National's annuities — net investment income changed year-over-year?
Lincoln National's annuities — net investment income increased by 19.0% year-over-year, from $452M to $538M.
What is the long-term trend for Lincoln National's annuities — net investment income?
Over 4 years (2021 to 2025), Lincoln National's annuities — net investment income has grown at a 7.8% compound annual growth rate (CAGR), from $1.4B to $1.89B.
What does annuities — net investment income mean?
This metric measures the interest, dividends, and other income generated by the assets held in the annuity segment's investment portfolio after deducting investment-related expenses. It is a critical driver of profitability, as it represents the spread earned between investment returns and the interest credited to policyholders.

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