Unum Group 6.250% JR NT58 (UNMA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+143.9%

$221.79

vs $90.95 price

Levered DCF

$182.33

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.11×	7.7×	6.92×	5.85×	6.08×	5.9×	5.55×	12.34×
P/B	1.2×	1.24×	0.92×	0.94×	0.44×	0.43×	0.61×	0.75×
P/S	1.02×	1.06×	0.72×	0.69×	0.42×	0.36×	0.51×	0.56×
EV / EBITDA	13.53×	6.74×	6.32×	5.63×	5.45×	6.33×	5.73×	10.41×
Gross margin	38.2%	37.1%	32.8%	33.1%	28.0%	23.5%	28.5%	22.2%
Operating margin	7.2%	17.6%	13.3%	14.7%	10.6%	7.3%	11.5%	5.4%
Net margin	5.7%	13.9%	10.4%	11.9%	8.3%	6.0%	9.2%	4.5%
Current ratio	0×	2.4×	4.23×	4.36×	4.31×	4.58×	2.13×	4.71×
Debt / equity	0.35×	0.35×	0.37×	0.39×	0.31×	0.32×	0.35×	0.34×
Interest coverage	4.47×	11.19×	8.42×	9.28×	6.81×	5.12×	7.79×	3.75×
Dividend yield	2.3%	2.2%	3.1%	3.1%	4.8%	5.0%	3.7%	3.3%
Payout ratio	41.5%	16.7%	21.6%	18.1%	24.4%	29.2%	20.8%	41.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.6%	16.2%	13.3%	16.1%	8.6%	7.3%	11.0%	6.1%
Return on invested capital	1.2%	2.9%	2.0%	2.3%	1.4%	1.1%	1.6%	0.8%
Return on assets	1.2%	2.9%	2.0%	2.3%	1.4%	1.1%	1.6%	0.8%
Free cash flow yield	4.2%	10.2%	12.0%	16.0%	25.5%	10.2%	26.0%	21.6%
Earnings yield	5.5%	13.1%	14.4%	17.1%	19.5%	17.0%	18.0%	8.1%
Enterprise value	$17.1B	$17.3B	$12.3B	$11.5B	$8.5B	$8B	$9.6B	$9.3B
Net debt / EBITDA	2.96×	1.44×	1.74×	1.62×	2.24×	2.63×	2.06×	3.21×
Cash conversion cycle (days)	40	42	46	46	47	42	49	51