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Lincoln National LNC Annuities — Operating Expenses

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$1.41B+1.4%

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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:OperatingExpenses.

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 itemAnnuitiesLife InsuranceGroup ProtectionRetirement Plan ServicesOther OperationsTotal
General and administrative expenses1331292308963644
Interest and debt expense8181
Other (3)(42)795374101
Total operating expenses9491,5861,4122951994,441
Total federal income tax expense (benefit)591308(31)67
Total income (loss) from operations2754111243(111)360
Reconciliation of total income (loss) from
operations to net income (loss):

Item 1. Financial Statements

FAQ

What is Lincoln National's annuities — operating expenses?
Lincoln National (LNC) reported annuities — operating expenses of $949M in Q1 2026.
How has Lincoln National's annuities — operating expenses changed year-over-year?
Lincoln National's annuities — operating expenses increased by 10.6% year-over-year, from $858M to $949M.
What is the long-term trend for Lincoln National's annuities — operating expenses?
Over 3 years (2022 to 2025), Lincoln National's annuities — operating expenses has grown at a 4.5% compound annual growth rate (CAGR), from $3.14B to $3.58B.
What does annuities — operating expenses mean?
Aggregates all costs associated with running the annuities segment, including administrative expenses, commissions, and other operational outflows. It is a critical measure for evaluating the segment's overall cost structure and operational scalability.

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