Is Lincoln National Corp. overvalued or undervalued?

As of 20 August 2025, the valuation grade for Lincoln National Corp. has moved from attractive to very attractive. The company appears to be undervalued, especially when considering its low Price to Book Value of 0.70 and an impressive Return on Equity (ROE) of 16.25%. Additionally, the company's Price-to-Earnings (P/E) ratio stands at 4, which is significantly lower than its peers, such as Globe Life, Inc. with a P/E of 11.82 and Primerica, Inc. at 12.59.
In terms of performance, Lincoln National Corp. has had a strong year-to-date return of 25.51%, outperforming the S&P 500's return of 12.22% in the same period. However, over the longer term, the company has struggled, with a 3-year return of -17.15% compared to the S&P 500's impressive 70.41%. Overall, the current valuation metrics suggest that Lincoln National Corp. is positioned favorably relative to its peers and may present a compelling investment opportunity.