Lincoln National Corporation (LNC) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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LNC Revenue Growth
Revenue Breakdown (FY 2024)
LNC's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
LNC Revenue Analysis (2014–2025)
As of May 8, 2026, Lincoln National Corporation (LNC) generated trailing twelve-month (TTM) revenue of $18.88 billion, reflecting strong growth of +12.5% year-over-year. The most recent quarter (Q1 2026) recorded $5.31 billion in revenue, up 7.8% sequentially.
Looking at the longer-term picture, LNC's 5-year compound annual growth rate (CAGR) stands at +0.7%, indicating moderate growth over time. The company achieved its highest annual revenue of $18.93 billion in 2022.
Revenue diversification analysis shows LNC's business is primarily driven by Life Segment (35%), Group Protection Segment (31%), and Annuities Segment (27%).
When compared to Financial Services sector peers including PRU (+1.9% YoY), MET (+6.1% YoY), and UNM (+4.8% YoY), LNC has outperformed the peer group in terms of revenue growth. Compare LNC vs PRU →
LNC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| LNCCurrent | $18.9B | +12.5% | +0.7% | 7.3% | |
 PRU | $60.8B | +1.9% | +1.3% | 7.9% | |
 MET | $77.1B | +6.1% | +2.6% | 6.0% | |
 UNM | $13.1B | +4.8% | -0.1% | 7.2% | |
 PFG | $15.6B | -3.1% | +1.2% | 9.1% | |
 GL | $6.0B | +3.8% | +4.8% | 24.4% |
LNC Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $18.21B | +1.2% | $10.44B | 57.3% | $1.34B | 7.3% |
| 2024 | $17.99B | +53.6% | $4.60B | 25.5% | $4.02B | 22.4% |
| 2023 | $11.71B | -38.1% | $50.0M | 0.4% | $-1,148,000,000 | -9.8% |
| 2022 | $18.93B | +7.5% | $2.43B | 12.9% | $1.73B | 9.1% |
| 2021 | $17.61B | +0.1% | $3.90B | 22.2% | $4.64B | 26.4% |
| 2020 | $17.58B | +1.9% | $3.46B | 19.7% | $423.0M | 2.4% |
| 2019 | $17.25B | +5.1% | $4.11B | 23.8% | $919.0M | 5.3% |
| 2018 | $16.42B | +15.2% | $4.70B | 28.6% | $1.89B | 11.5% |
| 2017 | $14.26B | +7.0% | $4.43B | 31.1% | $1.13B | 7.9% |
| 2016 | $13.33B | -1.7% | $3.82B | 28.6% | $1.46B | 10.9% |
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Start ComparisonLNC — Frequently Asked Questions
Quick answers to the most common questions about buying LNC stock.
Is LNC's revenue growth accelerating or slowing?
LNC maintains +12.5% revenue growth, in line with its 5-year CAGR of +0.7%. TTM revenue stands at $18.9B. Growth rate remains consistent with historical average.
What is LNC's long-term revenue growth rate?
Lincoln National Corporation's 5-year revenue CAGR of +0.7% reflects the sustained expansion pattern. Current YoY growth of +12.5% is near this long-term average.
How is LNC's revenue distributed by segment?
LNC reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.