Start with its own history
At 5.03×, LNC is 41.4% below its 9-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · LNCInsurance - LifeUpdated Nov 5, 2026
Lincoln National Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
5.03×
41.4% belowthe 9-observation annual average
Share price41.6
÷Earnings per share8.27
Price and EPS in quote currency. Calculation details
Investors are paying 5.03 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 8.59×
3-year average4.59×2 positive annual observations
5-year average4.11×4 positive annual observations
10-year average8.59×9 positive annual observations
Peer median · TTM11.28×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 7.48× | +340.4% |
| Dec 31, 2024 | 1.70× | N/M |
| Dec 31, 2023 | N/M | N/M |
| Dec 31, 2022 | 3.87× | +14.3% |
| Dec 31, 2021 | 3.39× | -82.6% |
| Dec 31, 2020 | 19.50× | +46.1% |
| Dec 31, 2019 | 13.35× | +97.7% |
| Dec 31, 2018 | 6.75× | -17.8% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 8.21× | -36.9% |
| Dec 31, 2016 | 13.02× | +19.2% |
| Dec 31, 2015 | 10.93× | +10.1% |
| Dec 31, 2014 | 9.93× | -10.0% |
| Dec 31, 2013 | 11.03× | +99.3% |
| Dec 31, 2012 | 5.53× | -79.5% |
| Dec 31, 2011 | 26.97× | +206.5% |
| Dec 31, 2010 | 8.80× | N/M |
| Dec 31, 2009 | N/M | N/M |
| Dec 31, 2008 | 85.64× | +561.9% |
| Dec 31, 2007 | 12.94× | +1.5% |
| Dec 31, 2006 | 12.74× | +15.4% |
| Dec 31, 2005 | 11.05× | -5.1% |
| Dec 31, 2004 | 11.64× | -16.7% |
| Dec 31, 2003 | 13.97× | -78.8% |
| Dec 31, 2002 | 65.79× | +291.5% |
| Dec 31, 2001 | 16.81× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How LNC compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 LNC This stockLincoln National Corporation | 5.03× |
 JXNJackson Financial Inc. | 11.19× |
 EQHEquitable Holdings, Inc. | 10.63× |
 CRBGCorebridge Financial, Inc. | 7.76× |
 PRUPrudential Financial, Inc. | 11.36× |
 METMetLife, Inc. | 25.59× |
 VOYAVoya Financial, Inc. | 16.66× |
 BHFBrighthouse Financial, Inc. | 3.33× |
 CNOCNO Financial Group, Inc. | 12.89× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does LNC’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 11.28×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take LNC into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("LNC", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 41.6 ÷ EPS 8.27 = 5.03×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
LNC P/E ratio: common questions
The essentials behind the numbers.
Lincoln National Corporation's current P/E is 5.03× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.