Lincoln National (LNC) Operating Margin (2009 - 2026)
Lincoln National's (LNC) quarterly Operating Margin came in at 35.78% in Q2 2026, down 60.0% on a YoY basis from 89.44% in Q2 2025, and up 18.28% quarter-over-quarter from 30.25% in Q1 2026.
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Lincoln National (LNC) Operating Margin (2009 - 2026) Analysis & Trends
Lincoln National (LNC) has reported Operating Margin for 18 consecutive years, with 35.78% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 60.0% year-over-year to 35.78%; the trailing twelve-month figure through Jun 2026 stood at 32.97% (up 64.0% YoY), and the FY2025 full-year result was 33.36%, up 330.0% from the prior year.
- Operating Margin improved to 35.78% in Q2 2026 per LNC's latest filing, from 30.25% in the prior quarter.
- Across five years, Operating Margin topped out at 204.86% in Q4 2023 and bottomed at 25.07% in Q2 2022.
- Historically, Operating Margin has averaged 42.65% across 5 years, with a median of 33.06% in 2022.
- The sharpest annual moves came in 2023 and 2024: Operating Margin soared 17144 bps in 2023, then slumped 17642 bps in 2024.
- Over 5 years, Operating Margin stood at 33.42% in 2022, then surged by 513 bps to 204.86% in 2023, then sank by 86 bps to 28.45% in 2024, then gained by 14 bps to 32.45% in 2025, then grew by 10 bps to 35.78% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 35.78%, 30.25%, and 32.45% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Metlife | 61.57 Bn | 34.25 Bn | 7.82 Bn | 34.99% |
| 2 | Manulife Financial | 24.69 Bn | 25.90 Bn | - | 51.31% |
| 3 | Equitable Holdings | 14.57 Bn | -4.36 Bn | 1.22 Bn | -55.97% |
| 4 | Jackson Financial | 9.70 Bn | 3.72 Bn | - | 552.38% |
| 5 | Corebridge Financial | 9.42 Bn | -296.20 Bn | 2.79 Bn | 81.50% |
| 6 | Primerica | 9.00 Bn | 8.37 Bn | 717.74 Mn | 5.06% |
| 7 | Brookfield Wealth Solutions | 8.66 Bn | -4.12 Bn | 1.92 Bn | 50.77% |
| 8 | Sun Life Financial | 8.56 Bn | 3.96 Bn | - | - |
| 9 | Lincoln National | 8.43 Bn | -3.25 Bn | 2.62 Bn | 35.78% |
| 10 | Prudential Financial | 5.28 Bn | -26.64 Bn | 7.91 Bn | 36.93% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 35.78% |
| Mar 31, 2026 | 30.25% |
| Dec 31, 2025 | 32.45% |
| Sep 30, 2025 | 33.90% |
| Jun 30, 2025 | 36.37% |
| Mar 31, 2025 | 31.17% |
| Dec 31, 2024 | 28.45% |
| Sep 30, 2024 | 34.44% |
| Jun 30, 2024 | 25.85% |
| Mar 31, 2024 | 32.70% |
| Dec 31, 2023 | 204.86% |
| Sep 30, 2023 | 35.55% |
| Jun 30, 2023 | 51.49% |
| Mar 31, 2023 | 38.44% |
| Dec 31, 2022 | 33.42% |
| Sep 30, 2022 | 27.72% |
| Jun 30, 2022 | 25.07% |
| Mar 31, 2022 | 29.89% |
| Dec 31, 2021 | 27.62% |
| Sep 30, 2021 | 30.07% |