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UNM

Unum Group

UNM

Unum Group • NYSE
$75.97 ▼ -0.54% (-0.41)
Market Cap $12.71 B
52w High $84.48
52w Low $66.81
Dividend Yield 1.84%
P/E 14.69
Volume 685.28K
Outstanding Shares 167.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.357B ▲ $683.7M ▲ $39.7M ▼ 1.182% ▼ $0.23 ▼ $138.3M ▼
Q2-2025 $3.346B ▲ $651.9M ▼ $335.6M ▲ 10.03% ▲ $1.93 ▲ $499.2M ▲
Q1-2025 $3.078B ▼ $666.9M ▲ $189.1M ▼ 6.145% ▼ $1.06 ▼ $325.6M ▼
Q4-2024 $3.203B ▲ $608.1M ▼ $348.7M ▼ 10.888% ▼ $1.93 ▼ $524.2M ▼
Q3-2024 $3.202B $2.22B $645.7M 20.165% $3.46 $894.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $36.12B ▼ $63.678B ▲ $52.769B ▲ $10.909B ▼
Q2-2025 $39.447B ▲ $62.844B ▲ $51.524B ▲ $11.32B ▲
Q1-2025 $237.7M ▼ $62.46B ▲ $51.246B ▲ $11.214B ▲
Q4-2024 $38.333B ▼ $61.959B ▼ $50.998B ▼ $10.961B ▲
Q3-2024 $39.938B $64.141B $53.189B $10.951B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $39.7M ▼ $-371.8M ▼ $-189.3M ▼ $-305.8M ▲ $-866.9M ▼ $-402.6M ▼
Q2-2025 $335.6M ▲ $348M ▼ $972.8M ▲ $-363.7M ▼ $957.1M ▲ $320.1M ▲
Q1-2025 $189.1M ▼ $353.6M ▼ $-12.1M ▼ $-266.6M ▲ $74.9M ▲ $317.8M ▼
Q4-2024 $348.7M ▼ $485.8M ▲ $48.7M ▲ $-535.1M ▼ $-600K ▼ $453.8M ▲
Q3-2024 $645.7M $390M $-119.7M $-239.6M $30.7M $352.3M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Closed Block
Closed Block
 $510.00M ▲$530.00M ▲$510.00M ▼$440.00M ▼
Colonial Life
Colonial Life
 $480.00M ▲$490.00M ▲$510.00M ▲$500.00M ▼
Unum International
Unum International
 $280.00M ▲$280.00M ▲$320.00M ▲$320.00M ▲
Unum US
Unum US
 $1.94Bn ▲$1.93Bn ▼$2.01Bn ▲$1.97Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Unum’s income statement shows a business that has largely stabilized its revenue while steadily improving profitability. Sales have been fairly flat over the past several years, but earnings have grown meaningfully, suggesting better pricing, risk selection, and cost control rather than growth driven by volume. Profitability has improved compared with the early pandemic period, when claims and uncertainty were higher. Earnings have moved upward in a fairly consistent way since then, with each recent year generally stronger than the last. That pattern points to a company that has worked through earlier headwinds and is now benefiting from firmer underwriting results and more disciplined operations. One thing to note is that results for insurers can be lumpy because of claim cycles, interest rates, and reserve adjustments, so the recent improvement should be viewed as a positive trend but not a guarantee that every future year will look as smooth.

Balance Sheet

Balance Sheet Unum’s balance sheet looks relatively conservative for a life and disability insurer. Total assets have edged down a bit from earlier years, which can reflect portfolio repositioning, changes in interest rates, or deliberate de-risking rather than underlying weakness. Debt levels have been quite stable, and equity has rebuilt after dipping a few years ago. That combination suggests leverage is under control and the company has been able to regenerate capital through retained earnings. Cash on hand is modest, but that is typical for insurers, which mainly hold their resources in investment portfolios rather than in pure cash. Overall, the balance sheet profile supports the picture of a company that manages risk in a measured way, though, as with any insurer, it remains sensitive to investment markets, claim trends, and regulatory capital requirements.

Cash Flow

Cash Flow Cash generation has been a clear strength. Operating cash flow has improved from the pandemic period and is now comfortably higher than it was several years ago. This indicates that the profits reported on the income statement are largely backed by real cash coming in the door. Free cash flow closely tracks operating cash flow because capital spending needs are relatively light and consistent. That means Unum has had room to fund dividends, buybacks, or balance sheet strengthening from internal cash, without relying heavily on new borrowing. For an insurer, steady and improving cash flow is a good sign that core underwriting and investment operations are functioning smoothly, even if year-to-year results can still fluctuate with claim experience.

Competitive Edge

Competitive Edge Unum holds a strong position in workplace benefits, especially in disability insurance, where it is one of the leaders in the U.S. Its reputation, long operating history, and deep relationships with employers and brokers give it meaningful scale and brand advantages. A key strength is the breadth of its product portfolio. By offering disability, life, accident, critical illness, dental, vision, absence management, and related services under one roof, Unum can be a single partner for employers. That supports cross-selling, higher customer stickiness, and more data to manage risk. The company also benefits from a wide distribution network, including both its own sales force and independent brokers and consultants. The main competitive threats come from other large group insurers, evolving digital benefits platforms, and pressure on pricing as employers look to control benefit costs. Regulatory changes and shifts in employment patterns can also influence demand.

Innovation and R&D

Innovation and R&D For a traditional insurance company, Unum is leaning relatively hard into digital innovation. It is using generative AI to support customer service, speed up information retrieval, and improve accuracy in its support centers, which can reduce operating costs and lift service quality. The company has rolled out several modern platforms for employers and brokers—such as tools for tracking claims and leave, streamlined broker portals, and integrated benefits administration systems. These efforts aim to make it easier for employers to manage complex benefits and for Unum to embed itself more deeply into clients’ daily workflows. Behind the scenes, Unum is also modernizing core policy administration systems and experimenting with new offerings like pet insurance and expanded HR tech solutions. Internationally, it is pushing digital enhancements in markets like the U.K. and Poland. The main execution risks are the cost and complexity of replacing legacy systems, ensuring data security, and keeping pace with rapidly evolving technologies.

Summary

Unum today looks like a mature insurer that has emerged from the pandemic period with stronger earnings, solid cash generation, and a generally disciplined balance sheet. Revenue has not been racing ahead, but profitability has notably improved, which points to better underwriting, pricing, and expense management rather than reliance on rapid top-line growth. Its competitive footing in workplace disability and broader employee benefits appears solid, supported by scale, a diverse product set, and entrenched relationships with employers and brokers. At the same time, the business remains exposed to the usual insurance risks: claim volatility, interest-rate movements, economic cycles, and regulatory change. What stands out versus many peers is the level of digital and AI-driven innovation aimed at both front-end customer experience and back-end efficiency. If executed well, these initiatives could deepen Unum’s moat and sustain margins, though they also introduce technology and integration risks. Overall, the company comes across as a steady, cash-generative insurer using technology and product breadth to reinforce its position in a competitive but structurally important market.

NEWS

November 14, 2025 · 4:15 PM UTC

Unum Group Completes Senior Notes Offering

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November 11, 2025 · 12:32 PM UTC

AM Best Assigns Issue Credit Rating to Unum Group's New Senior Unsecured Notes

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November 3, 2025 · 4:15 PM UTC

Unum Group Reports Third Quarter 2025 Results

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October 9, 2025 · 10:00 AM UTC

Unum Group Declares Quarterly Dividend of $0.460 Per Share of Its Common Stock

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October 6, 2025 · 3:00 PM UTC

Unum Group to Release Third Quarter 2025 Results and Host Conference Call

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