A Business at a Glance
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Unum Group
UNM
$14.9B
Mkt Cap
$86.22
-0.27%
Unum Group (UNM) has a current P/E ratio of 20.2, compared to its historical median P/E of 7.1. The stock is currently considered Expensive based on its historical valuation range.
Unum Group (UNM) has a 5-year average return on invested capital (ROIC) of 9.9%. This is below average and may indicate limited pricing power.
Unum Group (UNM) has a market capitalization of $17.0B. It is classified as a large-cap stock.
Yes, Unum Group (UNM) pays a dividend with a trailing twelve-month yield of 1.81%. The company also returns capital through share buybacks, with a buyback yield of 7.13%.
Based on historical P/E analysis, Unum Group (UNM) appears expensive. The current P/E of 20.2 is 185% above its historical median of 7.1. The estimated fair value CAGR (P/E method) is 12.0%.
Unum Group (UNM) operates in the Accident & Health Insurance industry, within the Financials sector.
Unum Group (UNM) reported annual revenue of $13.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Unum Group is a leading provider of workplace-based financial protection benefits operating in the United States, United Kingdom, Poland, and select other countries through three core operating segments: Unum US, Unum International, and Colonial Life. The company offers disability, life, accident, critical illness, dental, vision, and related services primarily marketed through the workplace to employers of all sizes, with products sold on both individual and group bases alongside fee-based services. Unum's business model centers on employer-sponsored benefits as the primary distribution channel, leveraging a field sales force working with independent brokers and consultants to deliver integrated offerings that help employers attract and retain talent while protecting employee incomes and livelihoods. The company generates revenue through premium income across its portfolio, with Unum US representing 65.4% of consolidated premium income, Colonial Life 17.0%, Unum International 10.0%, and the Closed Block 7.6%, and demonstrates strong returns on equity through disciplined pricing, risk selection, and operational execution. Unum's competitive positioning is reinforced by ongoing investments in technology-enabled digital platforms and solutions that enhance customer engagement and retention, while its essential nature of products and proven resilience during varied economic environments provide a durable foundation for consistent operating results.
【Strong growth and margin stabilization】 Management expects 2026 to deliver top-line growth in the 4%-7% range, driven by strong sales momentum and persistency across core businesses, with particular tailwinds from digital platform investments and technology adoption. Margins are anticipated to stabilize with Group Disability benefit ratios expected in the 62%-64% range, representing a normalization from 2024's historically low levels, while Group Life and AD&D and Colonial Life are expected to maintain relatively consistent underwriting performance. The company maintains robust capital generation supporting approximately $1 billion in annual share repurchases, with risk-based capital targeted at 400%-425% and holding company liquidity between $2 billion and $2.5 billion, enabling continued disciplined capital deployment. Management commentary emphasizes confidence in the commercial environment, supported by consistent pricing discipline, strong customer relationships, and the ongoing success of digital transformation initiatives that are expected to drive both premium growth and persistency improvements throughout 2026.
| Metric | Target | Period |
|---|---|---|
| Revenue (Premium Growth) | 4%-7% | FY2026 |
| Adjusted EPS | $8.60-$8.90 | FY2026 |
| EPS Growth | 8%-12% | FY2026 |
| Unum US Premium Growth | 4%-6% | FY2026 |
| Supplemental and Voluntary Earnings | $120 million-$130 million | FY2026 (per quarter) |
| Colonial Life Premium Growth | 2%-4% | FY2026 |
| Total Capital Generation | $1.4 billion-$1.6 billion | FY2026 |
Revenue (Premium Growth) (FY2026): “Across the company, we see top-line growth in the range of 4%-7%, with meaningful contributions from each part of the enterprise.”
Adjusted EPS (FY2026): “we expect adjusted after-tax operating earnings per share in the range of $8.60-$8.90 for full year 2026, representing growth of approximately 8%-12% over our redefined 2025 result of $7.93 per share.”
EPS Growth (FY2026): “we expect adjusted after-tax operating earnings per share in the range of $8.60-$8.90 for full year 2026, representing growth of approximately 8%-12% over our redefined 2025 result of $7.93 per share.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 13.3B | 13.1B | 12.9B | 12.4B | 12.0B | 12.0B |
| Net Income | 781M | 739M | 1.8B | 1.3B | 1.4B | 981M |
| EPS | $3.98 | $4.27 | $9.46 | $6.50 | $6.96 | $4.79 |
| Free Cash Flow | 539M | 555M | 1.4B | 1.1B | 1.3B | 1.3B |
| ROIC | 0.0% | 5.0% | 12.9% | 10.2% | 13.0% | 8.3% |
| Gross Margin | - | 7.1% | 17.5% | 13.2% | 14.6% | 10.5% |
| Debt/Equity | 0.35 | 0.31 | 0.34 | 0.36 | 0.39 | 0.57 |
| Dividends/Share | $1.56 | $1.76 | $1.57 | $1.39 | $1.26 | $1.17 |
| Operating Income | 0 | 934M | 2.3B | 1.6B | 1.8B | 1.3B |
| Operating Margin | 0.0% | 7.1% | 17.5% | 13.2% | 14.6% | 10.5% |
| ROE | 7.2% | 6.7% | 17.3% | 14.0% | 19.1% | 11.6% |
| Shares Outstanding | 197M | 173M | 188M | 198M | 202M | 205M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 10.5B | 10.7B | 11.0B | 11.3B | 11.6B | 12.0B | 13.2B | 12.0B | 12.0B | 12.4B | 12.9B | 13.1B | 13.3B |
| Gross Margin | 5.1% | 11.5% | 12.2% | 12.4% | 5.4% | 11.5% | 7.3% | 10.5% | 14.6% | 13.2% | 17.5% | 7.1% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 821M | 835M | 839M | 852M | 886M | 898M | 953M | 975M | 1.1B | 1.2B | 1.2B | 1.2B | 1.2B |
| EBIT | 392M | 1.1B | 1.2B | 1.3B | 493M | 1.3B | 964M | 1.3B | 1.8B | 1.6B | 2.3B | 934M | 0 |
| Op. Margin | 3.7% | 9.9% | 11.0% | 11.4% | 4.2% | 10.7% | 7.3% | 10.5% | 14.6% | 13.2% | 17.5% | 7.1% | 0.0% |
| Net Income | 402M | 867M | 931M | 994M | 523M | 1.1B | 793M | 981M | 1.4B | 1.3B | 1.8B | 739M | 781M |
| Net Margin | 3.8% | 8.1% | 8.4% | 8.8% | 4.5% | 9.2% | 6.0% | 8.2% | 11.7% | 10.4% | 13.8% | 5.6% | 5.9% |
| Non-Recurring | 3.4M | 5.9M | 5.7M | 900K | 1.4M | 0 | 37M | 0 | 0 | 3.0M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 3.6% | 7.8% | 8.1% | 8.2% | 4.4% | 9.0% | 5.9% | 8.3% | 13.0% | 10.2% | 12.9% | 5.0% | 0.0% |
| ROE | 4.7% | 10.1% | 10.6% | 10.7% | 5.8% | 11.8% | 7.6% | 11.6% | 19.1% | 14.0% | 17.3% | 6.7% | 7.2% |
| ROA | 0.7% | 1.4% | 1.5% | 1.6% | 0.8% | 1.7% | 1.2% | 1.4% | 2.1% | 2.1% | 2.8% | 1.2% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.2B | 1.3B | 1.1B | 1.2B | 1.5B | 1.6B | 469M | 1.4B | 1.4B | 1.2B | 1.5B | 688M | 675M |
| Free Cash Flow | 1.1B | 1.2B | 1.0B | 1.1B | 1.4B | 1.5B | 350M | 1.3B | 1.3B | 1.1B | 1.4B | 555M | 539M |
| Owner Earnings | 1.1B | 1.2B | 998M | 1.0B | 1.4B | 1.5B | 325M | 1.2B | 1.3B | 1.0B | 1.3B | 511M | -1.0B |
| CapEx | 115M | 100M | 85M | 105M | 144M | 151M | 119M | 110M | 102M | 135M | 126M | 132M | 136M |
| Maint. CapEx | 88M | 100M | 102M | 103M | 101M | 110M | 114M | 120M | 111M | 109M | 116M | 123M | 1.6B |
| Growth CapEx | 27M | 700K | 0 | 1.9M | 43M | 41M | 5.5M | 0 | 0 | 26M | 9.6M | 9.3M | 0 |
| D&A | 88M | 100M | 102M | 103M | 101M | 110M | 114M | 120M | 111M | 109M | 116M | 123M | 1.6B |
| CapEx/OCF | 9.4% | 7.8% | 7.6% | 9.0% | 9.4% | 8.7% | 25.4% | 7.9% | 7.2% | 11.2% | 8.3% | 19.2% | 20.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 159M | 174M | 183M | 196M | 216M | 229M | 232M | 239M | 254M | 277M | 297M | 306M | 307M |
| Dividend Yield | 2.6% | 2.9% | 3.1% | 2.4% | 3.1% | 4.4% | 7.1% | 5.0% | 4.0% | 3.3% | 2.9% | 2.3% | 1.8% |
| Share Buybacks | 306M | 418M | 405M | 402M | 356M | 400M | 0 | 50M | 200M | 250M | 973M | 1.0B | 1.2B |
| Buyback Yield | 4.8% | 7.0% | 5.3% | 4.3% | 7.3% | 8.3% | N/A | 1.1% | 2.6% | 2.9% | 7.2% | 7.4% | 7.1% |
| Stock-Based Comp | 23M | 24M | 22M | 30M | 26M | 27M | 30M | 35M | 53M | 64M | 48M | 54M | 54M |
| Debt Repayment | 187M | 226M | 414M | 64M | 60M | 493M | 80M | 500M | 364M | 0 | 350M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -42.4B | -40.7B | -41.3B | -42.6B | -40.3B | -44.2B | -41.0B | -40.0B | -31.5B | -33.6B | -32.1B | -29.7B | 1.5B |
| Cash & Equiv. | 103M | 113M | 100M | 77M | 94M | 84M | 197M | 75M | 119M | 146M | 163M | 158M | 2.2B |
| Long-Term Debt | 2.6B | 2.4B | 3.0B | 2.7B | 3.0B | 2.9B | 3.3B | 3.4B | 3.4B | 3.4B | 3.5B | 3.8B | 3.8B |
| Debt/Equity | 0.33 | 0.32 | 0.33 | 0.31 | 0.32 | 0.33 | 0.31 | 0.57 | 0.39 | 0.36 | 0.34 | 0.31 | 0.35 |
| Interest Coverage | 2.3 | 6.9 | 7.3 | 8.1 | 2.9 | 7.3 | 5.1 | 6.8 | 9.3 | 8.4 | 11.2 | 4.5 | 4.5 |
| Equity | 8.5B | 8.7B | 9.0B | 9.6B | 8.6B | 10.0B | 10.9B | 6.0B | 8.7B | 9.7B | 11.0B | 11.1B | 10.9B |
| Total Assets | 62.5B | 60.6B | 61.9B | 64.0B | 61.9B | 67.0B | 70.6B | 70.1B | 61.1B | 63.3B | 62.0B | 63.5B | 62.7B |
| Total Liabilities | 53.9B | 51.9B | 53.0B | 54.4B | 53.3B | 57.0B | 59.8B | 58.7B | 52.4B | 53.6B | 51.0B | 52.4B | 51.8B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 7.3B | 8.0B | 8.7B | 9.5B | 9.9B | 10.7B | 11.3B | 12.0B | 13.1B | 11.4B | 12.9B | 13.3B | 13.5B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.57 | 3.50 | 3.95 | 4.37 | 2.38 | 5.24 | 3.89 | 4.79 | 6.96 | 6.50 | 9.46 | 4.27 | 3.98 |
| Owner EPS | 4.35 | 4.72 | 4.23 | 4.53 | 6.41 | 7.00 | 1.60 | 6.02 | 6.21 | 5.21 | 7.17 | 2.96 | -5.14 |
| Book Value | 33.27 | 34.97 | 38.03 | 42.09 | 39.20 | 47.46 | 53.33 | 29.46 | 43.20 | 48.87 | 58.28 | 64.29 | 55.39 |
| Cash Flow/Share | 4.78 | 5.22 | 4.76 | 5.12 | 6.99 | 7.65 | 2.30 | 6.77 | 7.02 | 6.09 | 8.05 | 3.98 | 12.27 |
| Dividends/Share | 0.62 | 0.70 | 0.77 | 0.86 | 0.98 | 1.09 | 1.14 | 1.17 | 1.26 | 1.39 | 1.57 | 1.76 | 1.56 |
| Shares Out. | 256.1M | 247.7M | 235.8M | 227.5M | 219.9M | 210.0M | 203.9M | 204.8M | 202.2M | 197.5M | 188.1M | 173.0M | 196.6M |
| Valuation | |||||||||||||
| P/E Ratio | 15.9 | 6.9 | 8.2 | 9.5 | 9.4 | 4.4 | 4.8 | 5.4 | 5.4 | 6.6 | 7.6 | 18.5 | 21.7 |
| P/FCF | 5.8 | 5.0 | 7.4 | 8.9 | 3.5 | 3.3 | 10.9 | 3.5 | 5.8 | 8.0 | 9.7 | 24.6 | 31.5 |
| EV/EBIT | 11.6 | 5.9 | 6.5 | 7.3 | 8.6 | 4.6 | 4.8 | 5.2 | 4.9 | 5.5 | 6.0 | 12.5 | N/A |
| Price/Book | 0.8 | 0.7 | 0.9 | 1.0 | 0.6 | 0.5 | 0.4 | 0.4 | 0.9 | 0.9 | 1.2 | 1.2 | 1.6 |
| Price/Sales | 0.6 | 0.6 | 0.5 | 0.7 | 0.6 | 0.4 | 0.2 | 0.4 | 0.5 | 0.7 | 0.8 | 1.0 | 1.3 |
| FCF Yield | 17.3% | 20.0% | 13.5% | 11.2% | 28.4% | 30.2% | 9.2% | 28.5% | 17.4% | 12.6% | 10.3% | 4.1% | 3.2% |
| Market Cap | 6.4B | 6.0B | 7.7B | 9.4B | 4.9B | 4.8B | 3.8B | 4.5B | 7.6B | 8.5B | 13.5B | 13.6B | 17.0B |
| Avg. Price | 24.02 | 24.51 | 25.02 | 36.37 | 31.63 | 25.05 | 16.09 | 23.26 | 31.64 | 41.97 | 53.97 | 76.02 | 86.22 |
| Year-End Price | 24.98 | 24.10 | 32.47 | 41.46 | 22.32 | 22.95 | 18.72 | 21.85 | 37.47 | 42.99 | 71.55 | 78.84 | 86.22 |
Unum Group passes 3 of 9 quality checks, indicating weak fundamentals.
Unum Group trades at 20.2x trailing earnings, compared to its 15-year median P/E of 7.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 25.4x vs a median of 7.7x. The company's 5-year average ROIC is 9.9% with a gross margin of 12.6%. Total shareholder yield (dividends + buybacks) is 8.9%. At current prices, the estimated annualized return to fair value is +3.6%.
Unum Group (UNM) has a net profit margin of 5.6%. This is a modest margin.
Unum Group (UNM) generated $555 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Unum Group (UNM) has a debt-to-equity ratio of 0.31. This indicates a conservatively financed balance sheet.
Unum Group (UNM) reported earnings per share (EPS) of $4.27 in its most recent fiscal year.
Unum Group (UNM) has a return on equity (ROE) of 6.7%. This indicates moderate shareholder returns.
Unum Group (UNM) has a 5-year average gross margin of 12.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for Unum Group (UNM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Unum Group (UNM) has a book value per share of $64.29, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects 2026 to deliver top-line growth in the 4%-7% range, driven by strong sales momentum and persistency across core businesses, with particular tailwinds from digital platform investments and technology adoption. Margins are anticipated to stabilize with Group Disability benefit ratios expected in the 62%-64% range, representing a normalization from 2024's historically low levels, while Group Life and AD&D and Colonial Life are expected to maintain relatively consistent underwriting performance. The company maintains robust capital generation supporting approximately $1 billion in annual share repurchases, with risk-based capital targeted at 400%-425% and holding company liquidity between $2 billion and $2.5 billion, enabling continued disciplined capital deployment. Management commentary emphasizes confidence in the commercial environment, supported by consistent pricing discipline, strong customer relationships, and the ongoing success of digital transformation initiatives that are expected to drive both premium growth and persistency improvements throughout 2026.
Based on recent SEC filings and earnings calls, Unum Group (UNM) has provided the following forward guidance: Revenue (Premium Growth): 4%-7% (FY2026); Adjusted EPS: $8.60-$8.90 (FY2026); EPS Growth: 8%-12% (FY2026); Unum US Premium Growth: 4%-6% (FY2026); Supplemental and Voluntary Earnings: $120 million-$130 million (FY2026 (per quarter)), plus 2 additional metrics.
Unum US Premium Growth (FY2026): “Starting with Unum US, we expect premium growth to be between 4% and 6%.”
Supplemental and Voluntary Earnings (FY2026 (per quarter)): “we now expect Supplemental and Voluntary earnings to be in the $120 million-$130 million range per quarter, including an expected Benefit Ratio range of 48%-50%.”
Colonial Life Premium Growth (FY2026): “Strong persistency and our building sales momentum will enable top line growth to continue in the 2%-4% range.”
Total Capital Generation (FY2026): “positioning us for our full -year expectation of $1.4 billion-$1.6 billion of total capital generation.”