Unum Group
$79.84
+0.75 (+0.95%) · delayed · Nov 13, 2026
Five-year price
52w $69.02 to $96.77
- Market cap
- $12.4B
- Enterprise value
- $16.0B
- P/E
- 18.7×
- 11.8× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- 4.5%
- ROIC
- —
- Debt / equity
- 0.34
- Piotroski F
- 3/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
50
- –ROIC > 12% (5y avg)5y avg ROIC n/a
- ○ROE > 15% (5y avg)5y avg ROE 13.7%
- –Stable operating marginsMargin volatility n/a (σ, 5y)
- ●Earnings convert to cashFCF / net income 92% (5y avg)
- ○Growing revenueRevenue CAGR 5y -0.1%
- ●Shrinking share countDiluted shares -15.1% over 5y
Value
50
- ○P/E below 15P/E 18.7
- –EV/EBIT below 12EV/EBIT n/a
- ○FCF yield above 6%FCF yield 4.5%
- ●Price below Graham NumberGraham Number $83.02
- ●P/B below 3P/B 1.1
Safety
33
- ●Debt / equity below 0.5D/E 0.34
- ○Debt payable in < 4 yrs of earningsNet debt $3.6B
- –Interest coverage > 8xCoverage n/ax
- –Current ratio > 1.5Current ratio n/a
- ○Piotroski F-score ≥ 6F-score 3/9
Graham Defensive
100
- ●Adequate size (revenue > $2B)Revenue $13.1B
- –Strong condition (current ratio ≥ 2)Current ratio n/a
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 89%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 11.8
- ●P/E × P/B ≤ 22.5Product 13.2
Valuation lab
What do you have to believe?
At $79.84, the market is pricing in about 10.5% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $3.6B · 155M shares · 5y revenue CAGR −0.1%
Intrinsic value
$23.58
Price
$79.84
Premium paid
239%
What the price implies
The market is paying for 10.5% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
51% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11,047 | 11,287 | 11,599 | 11,999 | 13,162 | 12,008 | 11,984 | 12,386 | 12,887 | 13,076 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — | — | — |
| Pre-tax income | 1,348 | 1,404 | 628 | 1,382 | 964 | 1,261 | 1,750 | 1,640 | 2,251 | 934 |
| Income tax | 416 | 410 | 104 | 282 | 171 | 280 | 343 | 356 | 472 | 195 |
| Net income | 931 | 994 | 523 | 1,100 | 793 | 981 | 1,407 | 1,284 | 1,779 | 739 |
| EPS (diluted) | 3.95 | 4.37 | 2.38 | 5.24 | 3.89 | 4.79 | 6.96 | 6.50 | 9.46 | 4.27 |
| Diluted shares | 236 | 227 | 220 | 210 | 204 | 205 | 202 | 198 | 188 | 173 |
Who owns it