Lincoln National (LNC) Operating Expenses (2009 - 2026)
Lincoln National's (LNC) quarterly Operating Expenses came in at $2.9 billion in Q2 2026, down 9.29% YoY from $3.2 billion in Q2 2025, and down 47.78% on a QoQ basis from $5.6 billion in Q1 2026.
Lincoln National (LNC) Operating Expenses (2009 - 2026) Analysis & Trends
Lincoln National (LNC) has 18 years of Operating Expenses data on file, last reported at $2.9 billion in Q2 2026.
- Quarterly Operating Expenses fell 9.29% year-over-year to $2.9 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $16.5 billion (down 0.74% YoY) and the FY2025 annual result came in at $16.9 billion, up 17.02% from the prior year.
- Operating Expenses fell to $2.9 billion in Q2 2026, from $5.6 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $6.8 billion in Q3 2022 to a low of $2.3 billion in Q4 2023.
- A 5-year average of $3.9 billion and a median of $4.0 billion in 2025 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses tumbled 53.38% — and 2025, when it surged 117.93%.
- Tracing LNC's Operating Expenses over 5 years: stood at $4.2 billion in 2022, then sank by 45.42% to $2.3 billion in 2023, then grew by 28.06% to $3.0 billion in 2024, then surged by 35.28% to $4.0 billion in 2025, then fell by 27.65% to $2.9 billion in 2026.
- The last three Operating Expenses figures came in at $2.9 billion (Q2 2026), $5.6 billion (Q1 2026), and $4.0 billion (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Manulife Financial | 70.86 Bn | 50.95 Bn | - | -208.93 Mn |
| 2 | Metlife | 60.18 Bn | 32.86 Bn | 7.82 Bn | 18.12 Bn |
| 3 | Aflac | 58.60 Bn | -44.40 Bn | 2.27 Bn | 3.12 Bn |
| 4 | Prudential | 35.64 Bn | 27.32 Bn | - | -171.00 Mn |
| 5 | Unum | 13.88 Bn | 4.33 Bn | 1.38 Bn | 3.04 Bn |
| 6 | Primerica | 9.32 Bn | 8.68 Bn | 717.74 Mn | 606.85 Mn |
| 7 | Jackson Financial | 9.08 Bn | 3.09 Bn | - | 687.00 Mn |
| 8 | Lincoln National | 8.09 Bn | -3.59 Bn | 2.62 Bn | 2.90 Bn |
| 9 | Genworth Financial | 3.76 Bn | 1.78 Bn | 668.00 Mn | 1.79 Bn |
| 10 | Brighthouse Financial | 3.06 Bn | -5.00 Bn | 1.03 Bn | 487.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.90 Bn |
| Mar 31, 2026 | 5.55 Bn |
| Dec 31, 2025 | 4.01 Bn |
| Sep 30, 2025 | 4.03 Bn |
| Jun 30, 2025 | 3.20 Bn |
| Mar 31, 2025 | 5.64 Bn |
| Dec 31, 2024 | 2.96 Bn |
| Sep 30, 2024 | 4.81 Bn |
| Jun 30, 2024 | 4.06 Bn |
| Mar 31, 2024 | 2.59 Bn |
| Dec 31, 2023 | 2.31 Bn |
| Sep 30, 2023 | 3.17 Bn |
| Jun 30, 2023 | 2.33 Bn |
| Mar 31, 2023 | 4.98 Bn |
| Dec 31, 2022 | 4.24 Bn |
| Sep 30, 2022 | 6.80 Bn |
| Jun 30, 2022 | 4.55 Bn |
| Mar 31, 2022 | 2.89 Bn |
| Dec 31, 2021 | 4.38 Bn |
| Sep 30, 2021 | 4.87 Bn |