Comparative Analysis of Lincoln National and MetLife
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Source: Fool
- Lincoln National Financial Performance: In FY 2025, Lincoln National reported revenue of nearly $18.2 billion, reflecting a modest growth of approximately 1.2%, which supported a net income of about $1.2 billion, indicating a net margin of roughly 6.5%, showcasing its stability in the U.S. market and focus on retirement services.
- MetLife's Global Footprint: MetLife achieved approximately $77 billion in revenue for FY 2025, marking a significant year-over-year increase of nearly 10.2%, with net income close to $3.4 billion and a net margin of about 4.4%, demonstrating how its geographic diversity provides a buffer against regional economic fluctuations.
- Risk Profile Analysis: Lincoln National faces significant risks from interest rate fluctuations and equity market volatility, which could compress its investment spreads, while MetLife must navigate risks related to climate change and catastrophic events, highlighting different challenges in risk management for both companies.
- Valuation Comparison: Lincoln National's forward P/E ratio stands at 4.5x and P/S ratio at 0.4x, compared to MetLife's 8.5x and 0.7x, indicating a lower valuation that may attract income-seeking investors, albeit with higher associated risks.
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Analyst Views on LNC
Wall Street analysts forecast LNC stock price to rise
9 Analyst Rating
3 Buy
5 Hold
1 Sell
Hold
Current: 35.050
Low
41.00
Averages
47.56
High
59.00
Current: 35.050
Low
41.00
Averages
47.56
High
59.00
About LNC
Lincoln National Corporation is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies. The Company operates through four segments, which include Annuities, Life Insurance, Group Protection and Retirement Plan Services. The Annuities segment provides tax-deferred investment growth and lifetime wealth accumulation and protection opportunities for its clients by offering variable annuities, fixed including indexed annuities and registered index-linked annuities (RILA). The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (IUL) and variable universal life insurance (VUL) products, linked-benefit products, and critical illness and long-term care riders. The Group Protection segment offers group non-medical insurance products and services, including short- and long-term disability, statutory disability and paid family medical leave administration.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Comparative Analysis of Lincoln National and MetLife
- Lincoln National Financial Performance: In FY 2025, Lincoln National reported revenue of nearly $18.2 billion, reflecting a modest growth of approximately 1.2%, which supported a net income of about $1.2 billion, indicating a net margin of roughly 6.5%, showcasing its stability in the U.S. market and focus on retirement services.
- MetLife's Global Footprint: MetLife achieved approximately $77 billion in revenue for FY 2025, marking a significant year-over-year increase of nearly 10.2%, with net income close to $3.4 billion and a net margin of about 4.4%, demonstrating how its geographic diversity provides a buffer against regional economic fluctuations.
- Risk Profile Analysis: Lincoln National faces significant risks from interest rate fluctuations and equity market volatility, which could compress its investment spreads, while MetLife must navigate risks related to climate change and catastrophic events, highlighting different challenges in risk management for both companies.
- Valuation Comparison: Lincoln National's forward P/E ratio stands at 4.5x and P/S ratio at 0.4x, compared to MetLife's 8.5x and 0.7x, indicating a lower valuation that may attract income-seeking investors, albeit with higher associated risks.
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Investment Comparison: Lincoln National vs. MetLife
- Market Positioning: Lincoln National focuses on the U.S. retirement and life insurance market, serving approximately 17 million customers, with FY 2025 revenue nearing $18.2 billion, reflecting a 1.2% growth that underscores its commitment to stability and long-term security in domestic operations.
- Global Advantage: MetLife operates in over 40 markets, generating approximately $77 billion in revenue for FY 2025, a 10.2% increase, demonstrating strong performance in international markets and providing a buffer against regional economic fluctuations through its diversified business model.
- Financial Health: Lincoln National's debt-to-equity ratio stands at 0.6, with a current ratio of about 0.5, and despite a negative free cash flow of nearly $167 million, management is focused on stabilizing core insurance lines to navigate the complexities of the current macroeconomic environment.
- Risks and Opportunities: Lincoln National faces risks from interest rate fluctuations and market competition, while MetLife must contend with potential impacts from climate change and catastrophic events, prompting investors to choose based on their risk tolerance and investment strategy.
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Investment Comparison: Lincoln National vs. MetLife
- Lincoln National's Market Positioning: Lincoln National focuses on retirement services and life insurance in the U.S., with FY 2025 revenue nearing $18.2 billion, reflecting a modest 1.2% growth and a net income of approximately $1.2 billion, showcasing its commitment to long-term security in the domestic market.
- MetLife's Global Advantage: MetLife operates in over 40 markets, generating approximately $77 billion in revenue for FY 2025, a significant 10.2% year-over-year increase, with a net income of around $3.4 billion, indicating strong performance and a diversified business model in international markets.
- Risks and Challenges: Lincoln National faces risks from interest rate fluctuations and market competition that could compress investment returns, while MetLife must manage potential claims liabilities from climate change and natural disasters, highlighting different risk management focuses between the two companies.
- Valuation Comparison: Lincoln National has a forward P/E ratio of 4.5x and a P/S ratio of 0.4x, while MetLife's forward P/E is 8.5x and P/S is 0.7x, reflecting a higher valuation premium for MetLife, making it more appealing for investors seeking stability.
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Lincoln Financial Group Announces Executive Promotions and Restructuring
- Executive Promotions: Lincoln Financial Group announced the promotion of Darrel Tedrow, Curtis Chesney, and Paul Spurr to its Senior Management Committee, reflecting the company's commitment to leadership and strategic growth initiatives.
- Business Restructuring: The company reorganized its retail operations, with Tedrow continuing to lead the life insurance segment and Chesney focusing on the annuity sector, emphasizing growth, product strategy, and stable cash flow generation to enhance overall business efficiency and market competitiveness.
- New Risk Management Appointment: Paul Spurr has been appointed as Chief Risk Officer and Chief Actuary, highlighting the company's focus on risk management to ensure robust operations in a complex market environment.
- Executive Retirements: The retirement of senior executives Brian Kroll and Andy Rallis effective June 1, 2026, signals a shift in the leadership structure, indicating a new phase of strategic adjustments and business direction for the company.
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Lincoln Financial Elevates Three Executives to Senior Management Committee
- Executive Promotions: Lincoln Financial announced the elevation of Darrel Tedrow, Curtis Chesney, and Paul Spurr to the Senior Management Committee, reflecting the depth of internal talent development and commitment to strategic execution aimed at driving future growth and innovation.
- Structural Evolution: This promotion marks a structural evolution in the leadership of the Life Insurance and Annuity businesses, with each now having a dedicated President reporting directly to CEO Ellen Cooper, ensuring independent execution of their respective strategies.
- Strategic Focus: Tedrow will continue to lead the Life business while overseeing retail shared services, Chesney will focus on financial objectives and market strategies for annuity products, and Spurr will integrate risk and actuarial functions to enhance overall risk management capabilities, ensuring effective capital allocation and product strategy.
- Leadership Transition: These promotions coincide with the planned retirements of Brian Kroll and Andy Rallis, ensuring a smooth transition during the executive handover while also highlighting Lincoln Financial's ongoing commitment to developing future leadership talent.
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Lincoln National Declares Quarterly Dividend of $0.45
- Quarterly Dividend Stability: Lincoln National has declared a quarterly dividend of $0.45 per share, consistent with previous announcements, demonstrating the company's stability amid market uncertainties, which is likely to attract income-seeking investors.
- Consistent Dividend Record: The company has announced a $0.45 dividend for nineteen consecutive quarters, a policy that not only boosts investor confidence but also reflects strong cash flow and profitability.
- Dividend Yield: The current dividend yield stands at 5.13%, providing relative attractiveness in the current market environment, which may draw more income-focused investors and enhance the stock's market performance.
- Future Outlook: Despite anticipating $2B-$2.5B in net outflows from retirement plan services in Q2 2026, Lincoln National maintains its Group Protection margin goal of over 8%, indicating confidence in its future profitability.
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Comparative Analysis of Lincoln National and MetLife
- Lincoln National Financial Performance: In FY 2025, Lincoln National reported revenue of nearly $18.2 billion, reflecting a modest growth of approximately 1.2%, which supported a net income of about $1.2 billion, indicating a net margin of roughly 6.5%, showcasing its stability in the U.S. market and focus on retirement services.
- MetLife's Global Footprint: MetLife achieved approximately $77 billion in revenue for FY 2025, marking a significant year-over-year increase of nearly 10.2%, with net income close to $3.4 billion and a net margin of about 4.4%, demonstrating how its geographic diversity provides a buffer against regional economic fluctuations.
- Risk Profile Analysis: Lincoln National faces significant risks from interest rate fluctuations and equity market volatility, which could compress its investment spreads, while MetLife must navigate risks related to climate change and catastrophic events, highlighting different challenges in risk management for both companies.
- Valuation Comparison: Lincoln National's forward P/E ratio stands at 4.5x and P/S ratio at 0.4x, compared to MetLife's 8.5x and 0.7x, indicating a lower valuation that may attract income-seeking investors, albeit with higher associated risks.
See More
Investment Comparison: Lincoln National vs. MetLife
- Market Positioning: Lincoln National focuses on the U.S. retirement and life insurance market, serving approximately 17 million customers, with FY 2025 revenue nearing $18.2 billion, reflecting a 1.2% growth that underscores its commitment to stability and long-term security in domestic operations.
- Global Advantage: MetLife operates in over 40 markets, generating approximately $77 billion in revenue for FY 2025, a 10.2% increase, demonstrating strong performance in international markets and providing a buffer against regional economic fluctuations through its diversified business model.
- Financial Health: Lincoln National's debt-to-equity ratio stands at 0.6, with a current ratio of about 0.5, and despite a negative free cash flow of nearly $167 million, management is focused on stabilizing core insurance lines to navigate the complexities of the current macroeconomic environment.
- Risks and Opportunities: Lincoln National faces risks from interest rate fluctuations and market competition, while MetLife must contend with potential impacts from climate change and catastrophic events, prompting investors to choose based on their risk tolerance and investment strategy.
See More
Investment Comparison: Lincoln National vs. MetLife
- Lincoln National's Market Positioning: Lincoln National focuses on retirement services and life insurance in the U.S., with FY 2025 revenue nearing $18.2 billion, reflecting a modest 1.2% growth and a net income of approximately $1.2 billion, showcasing its commitment to long-term security in the domestic market.
- MetLife's Global Advantage: MetLife operates in over 40 markets, generating approximately $77 billion in revenue for FY 2025, a significant 10.2% year-over-year increase, with a net income of around $3.4 billion, indicating strong performance and a diversified business model in international markets.
- Risks and Challenges: Lincoln National faces risks from interest rate fluctuations and market competition that could compress investment returns, while MetLife must manage potential claims liabilities from climate change and natural disasters, highlighting different risk management focuses between the two companies.
- Valuation Comparison: Lincoln National has a forward P/E ratio of 4.5x and a P/S ratio of 0.4x, while MetLife's forward P/E is 8.5x and P/S is 0.7x, reflecting a higher valuation premium for MetLife, making it more appealing for investors seeking stability.
See More
Lincoln Financial Group Announces Executive Promotions and Restructuring
- Executive Promotions: Lincoln Financial Group announced the promotion of Darrel Tedrow, Curtis Chesney, and Paul Spurr to its Senior Management Committee, reflecting the company's commitment to leadership and strategic growth initiatives.
- Business Restructuring: The company reorganized its retail operations, with Tedrow continuing to lead the life insurance segment and Chesney focusing on the annuity sector, emphasizing growth, product strategy, and stable cash flow generation to enhance overall business efficiency and market competitiveness.
- New Risk Management Appointment: Paul Spurr has been appointed as Chief Risk Officer and Chief Actuary, highlighting the company's focus on risk management to ensure robust operations in a complex market environment.
- Executive Retirements: The retirement of senior executives Brian Kroll and Andy Rallis effective June 1, 2026, signals a shift in the leadership structure, indicating a new phase of strategic adjustments and business direction for the company.
See More
Lincoln Financial Elevates Three Executives to Senior Management Committee
- Executive Promotions: Lincoln Financial announced the elevation of Darrel Tedrow, Curtis Chesney, and Paul Spurr to the Senior Management Committee, reflecting the depth of internal talent development and commitment to strategic execution aimed at driving future growth and innovation.
- Structural Evolution: This promotion marks a structural evolution in the leadership of the Life Insurance and Annuity businesses, with each now having a dedicated President reporting directly to CEO Ellen Cooper, ensuring independent execution of their respective strategies.
- Strategic Focus: Tedrow will continue to lead the Life business while overseeing retail shared services, Chesney will focus on financial objectives and market strategies for annuity products, and Spurr will integrate risk and actuarial functions to enhance overall risk management capabilities, ensuring effective capital allocation and product strategy.
- Leadership Transition: These promotions coincide with the planned retirements of Brian Kroll and Andy Rallis, ensuring a smooth transition during the executive handover while also highlighting Lincoln Financial's ongoing commitment to developing future leadership talent.
See More
Lincoln National Declares Quarterly Dividend of $0.45
- Quarterly Dividend Stability: Lincoln National has declared a quarterly dividend of $0.45 per share, consistent with previous announcements, demonstrating the company's stability amid market uncertainties, which is likely to attract income-seeking investors.
- Consistent Dividend Record: The company has announced a $0.45 dividend for nineteen consecutive quarters, a policy that not only boosts investor confidence but also reflects strong cash flow and profitability.
- Dividend Yield: The current dividend yield stands at 5.13%, providing relative attractiveness in the current market environment, which may draw more income-focused investors and enhance the stock's market performance.
- Future Outlook: Despite anticipating $2B-$2.5B in net outflows from retirement plan services in Q2 2026, Lincoln National maintains its Group Protection margin goal of over 8%, indicating confidence in its future profitability.
See More
