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UNMA

Unum Group 6.250% JR NT58

UNMA

Unum Group 6.250% JR NT58 • NYSE
$23.84 ▲ 0.12% (+0.03)
Market Cap $11.99 B
52w High $25.33
52w Low $22.70
Dividend Yield 1.17%
P/E 4.95
Volume 3.98K
Outstanding Shares 503.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.378B ▲ $292.4M ▲ $39.7M ▼ 1.175% ▼ $0.23 ▼ $0
Q2-2025 $3.361B ▲ $292M ▼ $335.6M ▲ 9.984% ▲ $1.93 ▲ $0 ▼
Q1-2025 $3.092B ▼ $2.878B ▲ $189.1M ▼ 6.117% ▼ $1.06 ▼ $213.3M ▲
Q4-2024 $3.229B ▲ $-3.386B ▼ $348.7M ▼ 10.8% ▼ $1.93 ▼ $-1.42B ▼
Q3-2024 $3.217B $2.235B $645.7M 20.071% $3.46 $894.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $0 $51.995B ▼ $41.086B ▼ $10.909B ▼
Q2-2025 $0 ▼ $62.844B ▲ $51.524B ▲ $11.32B ▲
Q1-2025 $237.7M ▼ $54.338B ▲ $43.124B ▲ $11.214B ▲
Q4-2024 $1.397B ▼ $53.549B ▼ $42.588B ▼ $10.961B ▲
Q3-2024 $2.154B $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 Q3-2024Q4-2024Q1-2025Q2-2025
Closed Block
Closed Block
 $510.00M ▲$530.00M ▲$500.00M ▼$510.00M ▲
Colonial Life
Colonial Life
 $480.00M ▲$490.00M ▲$500.00M ▲$510.00M ▲
Unum International
Unum International
 $280.00M ▲$280.00M ▲$0 ▼$320.00M ▲
Unum US
Unum US
 $1.94Bn ▲$1.93Bn ▼$2.00Bn ▲$2.01Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Unum’s core business has shown steady, gradual growth in revenue after a pandemic-era dip, with profits rising faster than sales. Earnings have become meaningfully stronger and more consistent, suggesting better pricing discipline, tighter cost control, and improved underwriting results. There were some earlier periods of weaker profitability, but the more recent trend is toward healthier margins and a more resilient earnings base. Overall, the income statement points to a mature insurer that has moved from a more volatile phase to a more stable, higher-earning profile, though results will always remain somewhat sensitive to claims experience and economic conditions.

Balance Sheet

Balance Sheet Unum’s balance sheet looks solid for a financial services company. Total assets have stayed sizable, while shareholder equity has grown over time, signaling that the business is building value rather than simply treading water. Debt levels appear manageable and relatively stable, which reduces refinancing risk and interest burden. Cash on hand looks low in absolute terms, but that is typical for an insurer because most resources sit in investment portfolios backing policy obligations rather than in plain cash. Recent risk transfers and portfolio clean-up moves also point to more focused, less complex balance-sheet risk over time.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive and has generally improved in recent years. Free cash flow has tended to track operating cash flow closely, helped by modest spending on technology and other long-term investments. This pattern suggests the company is comfortably funding its operations, investing in its platform, and still having room for capital management decisions. For bondholders, the combination of reliable operating cash inflows and disciplined spending is an important signal of financial flexibility, although actual future cash flow will still depend on claims patterns and investment returns.

Competitive Edge

Competitive Edge Unum holds a leading position in its core markets, especially in workplace disability and related benefits, supported by a long operating history and strong brand recognition among employers and brokers. Its broad product lineup across disability, life, voluntary benefits, and ancillary coverages makes it a one-stop provider, which deepens relationships and reduces customer churn. A large, entrenched distribution network and long-standing broker relationships form another barrier for new entrants. At the same time, the company operates in a competitive, price-sensitive industry where regulatory changes, wage trends, and employer benefit budgets can pressure margins, so sustained execution is critical to maintaining its edge.

Innovation and R&D

Innovation and R&D Unum is clearly leaning into digital transformation rather than treating technology as a side project. It is using artificial intelligence and data analytics to speed up claims, enhance underwriting, and improve customer service, and it is embedding its capabilities into HR and benefits platforms that employers already use. Partnerships like the Workday collaboration and the launch of proprietary tools such as Gathr show a push to become part of the broader HR tech ecosystem, not just a traditional insurer. Investments in digital leave management, wellness, and employee assistance services should also help deepen client relationships and differentiate Unum from more conventional competitors, though the long-term payoff will depend on adoption and execution quality.

Summary

Unum, the issuer behind UNMA, appears to be in a stronger and more stable position than it was a few years ago. Profitability has improved, cash flows are consistently positive, and the balance sheet looks disciplined with steady equity growth and controlled leverage. The company benefits from a strong competitive footing in workplace benefits, reinforced by a broad product set and extensive distribution. At the same time, it operates in a cyclical, regulated industry that remains exposed to claims volatility, interest rate shifts, and employer benefit budgets. Its ongoing push into digital solutions, data-driven underwriting, and integrated HR platforms creates meaningful opportunity for further efficiency and differentiation, but also introduces execution and technology risks. Overall, the picture is of a mature insurer that has strengthened its financial and strategic position while actively modernizing its business model.