Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Lincoln National Corporation (LNC)

Company Dividend Discount ModelIndustry: Insurance - LifeSector: Financial Services

Valuation Snapshot

Stable Growth$94.81 - $140.01$116.46
Multi-Stage$114.84 - $125.80$120.22
Blended Fair Value$118.34
Current Price$40.33
Upside193.43%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.26%6.09%1.701.691.721.761.721.681.601.451.321.13
YoY Growth--0.66%-1.61%-2.82%2.57%2.64%4.84%10.31%10.08%16.67%20.00%
Dividend Yield--4.73%5.34%7.63%2.70%2.76%6.37%2.58%1.98%2.01%2.88%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,109.00
(-) Cash Dividends Paid (M)316.00
(=) Cash Retained (M)1,793.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)421.80263.63158.18
Cash Retained (M)1,793.001,793.001,793.00
(-) Cash Required (M)-421.80-263.63-158.18
(=) Excess Retained (M)1,371.201,529.381,634.83
(/) Shares Outstanding (M)180.75180.75180.75
(=) Excess Retained per Share7.598.469.04
LTM Dividend per Share1.751.751.75
(+) Excess Retained per Share7.598.469.04
(=) Adjusted Dividend9.3310.2110.79
WACC / Discount Rate10.77%10.77%10.77%
Growth Rate0.84%1.84%2.84%
Fair Value$94.81$116.46$140.01
Upside / Downside135.09%188.77%247.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,109.002,147.872,187.462,227.782,268.842,310.662,379.98
Payout Ratio14.98%29.99%44.99%59.99%75.00%90.00%92.50%
Projected Dividends (M)316.00644.08984.141,336.521,701.562,079.602,201.48

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.77%10.77%10.77%
Growth Rate0.84%1.84%2.84%
Year 1 PV (M)575.74581.45587.16
Year 2 PV (M)786.38802.05817.88
Year 3 PV (M)954.63983.321,012.57
Year 4 PV (M)1,086.411,130.151,175.20
Year 5 PV (M)1,186.901,246.931,309.36
PV of Terminal Value (M)16,167.8016,985.4917,835.93
Equity Value (M)20,757.8621,729.3822,738.08
Shares Outstanding (M)180.75180.75180.75
Fair Value$114.84$120.22$125.80
Upside / Downside184.76%198.09%211.93%

High-Yield Dividend Screener

« Prev Page 82 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
001965.SZChina Merchants Expressway Network & Technology Holdings Co.,Ltd.1.56%$0.1620.63%
005430.KSKorea Airport Service Co.,Ltd.1.56%$999.968.24%
009540.KSKorea Shipbuilding & Offshore Engineering Co., Ltd.1.56%$6,131.9325.76%
1364.HKGuming1.56%$0.3837.59%
2287.SRArabian Company for Agricultural and Industrial Investment1.56%$0.5044.58%
300505.SZKunming Chuan Jin Nuo Chemical Co., Ltd.1.56%$0.3525.89%
300595.SZAutek China Inc.1.56%$0.2341.79%
3843.TFreeBit Co., Ltd.1.56%$26.3519.53%
600803.SSENN Natural Gas Co., Ltd.1.56%$0.3222.50%
7712.TWOPotens1.56%$1.3527.60%
9982.TTakihyo Co., Ltd.1.56%$35.4219.23%
DPNS.JKPT Duta Pertiwi Nusantara Tbk1.56%$4.8319.22%
FTT.TOFinning International Inc.1.56%$1.1722.66%
QAN.AXQantas Airways Limited1.56%$0.168.74%
WEGE3.SAWEG S.A.1.56%$0.7548.87%
000640.KSDong-A Socio Holdings Co., Ltd.1.55%$1,671.189.99%
300230.SZShanghai YongLi Belting Co., Ltd1.55%$0.0726.87%
300573.SZShenyang Xingqi Pharmaceutical Co.,Ltd1.55%$1.0941.31%
600298.SSAngel Yeast Co., Ltd1.55%$0.6838.99%
601702.SSShanghai Huafon Aluminium Corporation1.55%$0.3225.48%
601788.SSEverbright Securities Company Limited1.55%$0.2733.48%
6290.TWOLongwell Company1.55%$2.8845.81%
000975.SZShanjin International Gold Co., Ltd.1.54%$0.3735.79%
300515.SZHunan Sundy Science and Technology Co., Ltd.1.54%$0.3033.61%
600018.SSShanghai International Port (Group) Co., Ltd.1.54%$0.0813.46%
600251.SSXinjiang Guannong Fruit & Antler Co.,Ltd.1.54%$0.1450.13%
603980.SSZhejiang Jihua Group Co., Ltd.1.54%$0.0892.72%
688663.SSWindSun Science&Technology Co.,Ltd.1.54%$0.6060.19%
7354.TDirect Marketing MiX Inc.1.54%$4.4816.60%
ALNSC.PANSC Groupe S.A.1.54%$1.133.63%
EYDAP.ATAthens Water Supply and Sewerage Company S.A.1.54%$0.1244.88%
KALPATPOWR.NSKalpataru Power Transmission Limited1.54%$7.9627.39%
MAGMAG Silver Corp.1.54%$0.3837.80%
NSISBC.XDNovonesis (Novozymes) B1.54%$6.1268.56%
002062.SZHongrun Construction Group Co., Ltd.1.53%$0.1462.78%
002074.SZGotion High-tech Co.,Ltd.1.53%$0.6032.33%
003011.SZZhejiang Walrus New Material Co.,Ltd.1.53%$0.3424.62%
072130.KSUANGEL Corporation1.53%$70.0520.95%
0ROV.LBanque Cantonale du Jura S.A.1.53%$0.8810.04%
4612.TNippon Paint Holdings Co., Ltd.1.53%$16.0022.99%
603018.SSChina Design Group Co., Ltd.1.53%$0.1223.64%
603619.SSZhongman Petroleum and Natural Gas Group Corp., Ltd.1.53%$0.3531.92%
7119.Thalmek holdings Co.,Ltd.1.53%$19.7035.38%
ELPI.JKPT Pelayaran Nasional Ekalya Purnamasari Tbk1.53%$14.3440.52%
PIPE.TOPipestone Energy Corp.1.53%$0.035.35%
PYLON.BKPylon Public Company Limited1.53%$0.0436.13%
VAS.DEVoestalpine AG1.53%$0.5954.73%
001387.SZHefei Snowky Elect1.52%$0.2139.65%
002015.SZGCL Energy Technology Co.,Ltd.1.52%$0.1537.18%
1070.HKTCL Electronics Holdings Limited1.52%$0.1618.34%