Unum Group (UNM) intrinsic value & 10-year financials
Unum Group (UNM) has a Graham intrinsic value of $37.72 per share. At $92.23 on Oct 17, 2026, the stock trades 145% above that value. Over the last 10 fiscal years revenue grew 1.9% a year to $13.1B, with an average return on invested capital of 7.9%.
- Graham intrinsic value
- $37.72
- Share price (Oct 17, 2026)
- $92.23
- Price vs Graham value
- 145% above
- Market cap
- $15.9B
- Revenue (FY2025)
- $13.1B
- Revenue growth (10-yr CAGR)
- 1.9%
- ROIC (10-yr avg)
- 7.9%
- Free cash flow (FY2025)
- $555.4M
UNM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $13.1B | $738.5M | $4.27 | $555.4M | — | 5.1% |
| FY2024 | $12.9B | $1.8B | $9.46 | $1.4B | — | 13.1% |
| FY2023 | $12.4B | $1.3B | $6.50 | $1.1B | — | 10.1% |
| FY2022 | $12.0B | $1.3B | $6.50 | $1.3B | — | 9.6% |
| FY2021 | $12.0B | $824.2M | $4.02 | $1.3B | — | 5.7% |
| FY2020 | $13.2B | $793.0M | $3.89 | $478.4M | — | 5.9% |
| FY2019 | $12.0B | $1.1B | $5.24 | $1.6B | — | 9.1% |
| FY2018 | $11.6B | $523.4M | $2.38 | $1.4B | — | 4.4% |
| FY2017 | $11.3B | $994.2M | $4.37 | $1.0B | — | 8.2% |
| FY2016 | $11.0B | $931.4M | $3.95 | $1.0B | — | 7.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Unum Group has demonstrated mature, steady growth, with revenue compounding at 1.9% annually over the past decade.
Unum Group has historically struggled to out-earn its cost of capital, averaging just 7.9% ROIC.
Over the decade, Unum Group shows that management has aggressively returned capital to shareholders by retiring 26.7% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Unum Group is modeled at 0.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $37.72 per share.