Insurance - Life · NYSE
当前价格
$34.18
内在价值
使用下方计算器估算
对 Lincoln National Corporation 运行完整的 DCF 分析，自动填充基本面数据，可调节假设参数，含敏感性热力图。
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities. The Retirement Plan Services segment provides employers with retirement plan products and services primarily in the defined contribution retirement plan marketplace. This segment offers individual and group variable annuities, group fixed annuities, and mutual fund-based programs; and a range of plan services, including plan recordkeeping, compliance testing, participant education, and trust and custodial services. The Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders. The Group Protection segment offers group non-medical insurance products comprising short and long-term disability, statutory disability and paid family medical leave administration and absence management services, term life, dental, vision and accident, and critical illness benefits and services to the employer marketplace through various forms of employee-paid and employer-paid plans. The company distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries. Lincoln National Corporation was founded in 1905 and is based in Radnor, Pennsylvania.
ROIC (TTM)
0.3%
ROE (TTM)
12.0%
FCF Yield
-2.57%
基于过去 12 个月的数据，LNC 每股自由现金流为 N/A，投入资本回报率（ROIC）为 0.3%，这些是使用 DCF 方法进行股票估值的关键输入。P/FCF 比率为 N/A，FCF 收益率为 -2.57%，是评估 LNC 相对估值的重要参考指标。
LNC 的内在价值取决于未来增长率、折现率（WACC）和终值假设。DCF 模型将预期自由现金流折现回现值——WACC 的小幅变化可能导致估算偏移 20% 以上，因此敏感性分析至关重要。
LNC 是否被低估取决于 DCF 内在价值与当前市价 $34.18 的比较。正的安全边际（内在价值高于市价）暗示潜在低估，但置信度取决于增长率和折现率假设的可靠性。
对 Lincoln National Corporation 进行 DCF 估值的步骤：(1) 以过去 12 个月每股自由现金流为基础，(2) 根据Insurance - Life行业趋势和公司基本面预测未来 5-10 年的 FCF 增长，(3) 选择反映 LNC 风险的折现率（WACC），(4) 加上预测期之后的终值。
DCF（折现现金流）根据公司未来的现金产生能力估算其当前价值。对于 Lincoln National Corporation，这意味着预测Insurance - Life在未来 5-10 年能产生多少自由现金流，再折现到今天的价值。LNC 的 ROIC 为 0.3%，表明公司可能面临产生超过资本成本回报的挑战。
WACC（加权平均资本成本）是 DCF 模型中的折现率——反映投资者要求的最低回报。对于 LNC，资本结构和股权风险溢价决定了 WACC。WACC 每提高 1%，内在价值通常下降 10-15%。
