Lincoln National annual debt-to-equity ratio
2008
2010
2011
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2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Lincoln National Debt-to-Equity Ratio Growth & History (LNC)
Lincoln National's debt-to-equity ratio was 0.54 for fiscal 2025.
View full Lincoln National company overviewLincoln National annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.54 | −0.21 | −28.02% |
| 2024 | 2024-12-31 | 0.76 | −0.13 | −14.73% |
| 2023 | 2023-12-31 | 0.89 | −0.41 | −31.42% |
| 2022 | 2022-12-31 | 1.29 | 0.93 | +254.41% |
| 2021 | 2021-12-31 | 0.36 | 0.05 | +16.34% |
| 2020 | 2020-12-31 | 0.31 | −0.04 | −10.46% |
| 2019 | 2019-12-31 | 0.35 | −0.05 | −11.71% |
| 2018 | 2018-12-31 | 0.40 | 0.10 | +33.98% |
| 2017 | 2017-12-31 | 0.30 | −0.06 | −16.42% |
| 2016 | 2016-12-31 | 0.35 | −0.04 | −9.48% |
| 2015 | 2015-12-31 | 0.39 | 0.06 | +16.69% |
| 2014 | 2014-12-31 | 0.34 | −0.09 | −21.94% |
| 2013 | 2013-12-31 | 0.43 | 0.07 | +19.59% |
| 2012 | 2012-12-31 | 0.36 | −0.05 | −12.75% |
| 2011 | 2011-12-31 | 0.41 | −0.08 | −15.89% |
| 2010 | 2010-12-31 | 0.49 | — | — |
| 2008 | 2008-12-31 | 0.10 | — | — |
Lincoln National quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.57 | −0.03 | −5.69% |
| Q1 2026 | 2026-03-31 | 0.58 | −0.13 | −18.39% |
| Q4 2025 | 2025-12-31 | 0.54 | −0.21 | −28.02% |
| Q3 2025 | 2025-09-30 | 0.55 | −0.14 | −19.68% |
| Q2 2025 | 2025-06-30 | 0.60 | −0.17 | −22.13% |
| Q1 2025 | 2025-03-31 | 0.72 | −0.11 | −13.23% |
| Q4 2024 | 2024-12-31 | 0.76 | −0.13 | −14.73% |
| Q3 2024 | 2024-09-30 | 0.69 | — | — |
| Q2 2024 | 2024-06-30 | 0.78 | 0.69 | +802.75% |
| Q1 2024 | 2024-03-31 | 0.83 | 0.75 | +1011.41% |
| Q4 2023 | 2023-12-31 | 0.89 | −0.41 | −31.42% |
| Q2 2023 | 2023-06-30 | 0.09 | −0.61 | −87.66% |
| Q1 2023 | 2023-03-31 | 0.07 | −0.39 | −83.86% |
| Q4 2022 | 2022-12-31 | 1.29 | 0.93 | +254.41% |
| Q3 2022 | 2022-09-30 | 2.50 | 2.17 | +664.46% |
| Q2 2022 | 2022-06-30 | 0.70 | 0.68 | +4947.66% |
| Q1 2022 | 2022-03-31 | 0.46 | 0.44 | +2905.96% |
| Q4 2021 | 2021-12-31 | 0.36 | 0.05 | +16.34% |
| Q3 2021 | 2021-09-30 | 0.33 | 0.02 | +4.98% |
| Q2 2021 | 2021-06-30 | 0.01 | −0.31 | −95.75% |
| Q1 2021 | 2021-03-31 | 0.02 | −0.39 | −96.24% |
| Q4 2020 | 2020-12-31 | 0.31 | −0.04 | −10.46% |
| Q3 2020 | 2020-09-30 | 0.31 | 0.27 | +612.12% |
| Q2 2020 | 2020-06-30 | 0.32 | 0.28 | +595.65% |
| Q1 2020 | 2020-03-31 | 0.41 | 0.35 | +670.01% |
| Q4 2019 | 2019-12-31 | 0.35 | −0.05 | −11.71% |
| Q3 2019 | 2019-09-30 | 0.04 | — | — |
| Q2 2019 | 2019-06-30 | 0.05 | — | — |
| Q1 2019 | 2019-03-31 | 0.05 | 0.04 | +238.06% |
| Q4 2018 | 2018-12-31 | 0.40 | 0.10 | +33.98% |
| Q1 2018 | 2018-03-31 | 0.02 | 0.00 | +17.09% |
| Q4 2017 | 2017-12-31 | 0.30 | −0.06 | −16.42% |
| Q3 2017 | 2017-09-30 | 0.03 | 0.01 | +80.10% |
| Q2 2017 | 2017-06-30 | 0.03 | 0.01 | +79.14% |
| Q1 2017 | 2017-03-31 | 0.01 | — | — |
| Q4 2016 | 2016-12-31 | 0.35 | −0.04 | −9.48% |
| Q3 2016 | 2016-09-30 | 0.02 | — | — |
| Q2 2016 | 2016-06-30 | 0.02 | — | — |
| Q4 2015 | 2015-12-31 | 0.39 | 0.06 | +16.69% |
| Q1 2015 | 2015-03-31 | 0.02 | — | — |
| Q4 2014 | 2014-12-31 | 0.34 | −0.09 | −21.94% |
| Q3 2014 | 2014-09-30 | 0.02 | −0.02 | −56.93% |
| Q2 2014 | 2014-06-30 | 0.02 | −0.02 | −57.42% |
| Q4 2013 | 2013-12-31 | 0.43 | 0.07 | +19.59% |
| Q3 2013 | 2013-09-30 | 0.04 | 0.02 | +184.03% |
| Q2 2013 | 2013-06-30 | 0.04 | 0.02 | +77.82% |
| Q1 2013 | 2013-03-31 | 0.05 | 0.02 | +107.78% |
| Q4 2012 | 2012-12-31 | 0.36 | −0.05 | −12.75% |
| Q3 2012 | 2012-09-30 | 0.01 | −0.03 | −66.36% |
| Q2 2012 | 2012-06-30 | 0.02 | 0.00 | +6.91% |
| Q1 2012 | 2012-03-31 | 0.02 | −0.01 | −21.45% |
| Q4 2011 | 2011-12-31 | 0.41 | −0.08 | −15.89% |
| Q3 2011 | 2011-09-30 | 0.04 | 0.03 | +427.89% |
| Q2 2011 | 2011-06-30 | 0.02 | 0.01 | +155.15% |
| Q1 2011 | 2011-03-31 | 0.03 | 0.02 | +256.43% |
| Q4 2010 | 2010-12-31 | 0.49 | — | — |
| Q3 2010 | 2010-09-30 | 0.01 | −0.03 | −78.29% |
| Q2 2010 | 2010-06-30 | 0.01 | −0.04 | −84.38% |
| Q1 2010 | 2010-03-31 | 0.01 | — | — |
| Q3 2009 | 2009-09-30 | 0.03 | — | — |
| Q2 2009 | 2009-06-30 | 0.05 | — | — |
| Q4 2008 | 2008-12-31 | 0.10 | — | — |
Lincoln National debt-to-equity ratio trends
Over the last five fiscal years, Lincoln National's debt-to-equity ratio increased from 0.31 to 0.54, a change of 0.23. The latest reported quarter, Q2 2026, shows 0.57.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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