Lincoln National (LNC) FY2024 results: revenue $18.4 billion, up 58.4% on the year
Lincoln National Corp. (LNC) reported revenue of $18.4 billion for fiscal 2024, the year ended 31 December 2024, up 58.4% on the year before. Net income was $3.3 billion, and diluted earnings per share $18.41. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$18.4 billion
+58.4% on the year
FY2017FY2024
Operating margin
21.8%
-9.9% a year earlier
FY2017FY2024
Net income
$3.3 billion
FY2017FY2024
Diluted EPS
$18.41
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
-2,007
-2,074
3,609
Cash from investing
821
-3,334
-11,643
Cash from financing
3,622
5,430
8,768
-33.3%
Share-based compensation
64.0
61.0
51.0
+4.9%
Buybacks
0.0
0.0
550
Dividends paid
307
305
310
+0.7%
Dividend per share
$1.80
$1.80
$1.80
0.0%
Diluted shares, weighted
173m
171m
173m
+1.4%
Shares outstanding at period end
170m
170m
169m
+0.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
8,269
6,893
5,102
+20.0%
Debt
6,156
5,949
6,331
+3.5%
Other liabilities
376,406
359,571
322,898
+4.7%
Total liabilities and equity
390,831
372,413
334,331
+4.9%
Goodwill
1,144
1,144
1,144
0.0%
Securities held for sale or to maturity
87,111
88,738
99,736
-1.8%
Loans
21,083
18,963
18,301
+11.2%
Securities borrowed
n/a
n/a
941
Cash and equivalents
5,801
3,365
3,343
+72.4%
Other assets
275,692
260,203
210,866
+6.0%
Total assets
390,831
372,413
334,331
+4.9%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.