Lincoln National vs Principal Financial
Lincoln National is the larger business, with $18.21bn of revenue in fiscal 2025 against $15.63bn for Principal Financial (1.2 times as much). Lincoln National grew faster (-1.2% against -3.1%). Principal Financial kept more of each dollar of sales as profit: a net margin of 7.6% against 6.5%. Principal Financial carries less debt relative to equity (33.3% against 57.5%).
| Latest fiscal year | Lincoln NationalLNC, 2025 | Principal FinancialPFG, 2025 |
|---|---|---|
| Revenue | $18.21bn | $15.63bn |
| Revenue growth | -1.2% | -3.1% |
| Net income | $1.18bn | $1.19bn |
| Operating margin | — | — |
| Net margin | 6.5% | 7.6% |
| Return on equity | 12.3% | 10.3% |
| Free cash flow | — | — |
| Cash | $9.50bn | $4.43bn |
| Total debt | $6.27bn | $3.96bn |
| Debt to equity | 57.5% | 33.3% |
| Dividend per share | $1.80 | $3.08 |
| Dividend yield | — | — |
| Share buybacks | — | $903m |
| Employees | 9,423 | 19,700 |
| Market value | $8.08bn | $23.96bn |
| Price vs our value range | — | — |
| Moat score | 21 (Weak) | 39 (Weak) |
| Insider trades, 12 months | 4 buys, 8 sales | 1 buys, 12 sales |