Unum
UNM · NYSEAccident & Health Insurance · Fiscal year ends Dec 31
Unum reported revenue of $13.1B in the fiscal year ended Dec 2025, up 1.5% from the year before. Net income was $739M. Operating cash flow of $688M less capital expenditure of $132M left free cash flow of $555M. Net debt was $3.6B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $12B | $12B | $12.4B | $12.9B | $13.1B |
| Pre-tax income | $1.3B | $1.8B | $1.6B | $2.3B | $934M |
| Income tax | $280M | $343M | $356M | $472M | $195M |
| Net income | $981M | $1.4B | $1.3B | $1.8B | $739M |
| Diluted EPS | 4.79 | 6.96 | 6.50 | 9.46 | 4.27 |
| Diluted shares | 205M | 202M | 198M | 188M | 173M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $75M | $119M | $146M | $163M | $158M |
| Net PP&E | $463M | $452M | $485M | $488M | $504M |
| Goodwill | $352M | $348M | $350M | $349M | $354M |
| Total assets | $70.1B | $61.1B | $63.3B | $62B | $63.5B |
| Short-term debt | $0 | $2M | $0 | $275M | $0 |
| Long-term debt | $3.4B | $3.4B | $3.4B | $3.5B | $3.8B |
| Total liabilities | $58.7B | $52.4B | $53.6B | $51B | $52.4B |
| Shareholders' equity | $6B | $8.7B | $9.7B | $11B | $11.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.4B | $1.4B | $1.2B | $1.5B | $688M |
| Capital expenditure | $110M | $102M | $135M | $126M | $132M |
| Free cash flow | $1.3B | $1.3B | $1.1B | $1.4B | $555M |
| Depreciation & amortisation | $120M | $111M | $109M | $116M | $123M |
| Stock-based compensation | $35M | $53M | $64M | $48M | $54M |
| Share buybacks | $50M | $200M | $250M | $973M | $1B |
| Dividends paid | $239M | $254M | $277M | $297M | $306M |
| Dividend per share | 1.17 | 1.26 | 1.39 | 1.57 | 1.76 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −0.2% | 3.4% | 4.0% | 1.5% |
| EPS growth (YoY) | – | 45.3% | −6.6% | 45.5% | −54.9% |
| Net margin | 8.2% | 11.7% | 10.4% | 13.8% | 5.6% |
| Return on equityBlank when equity is negative | 16.3% | 16.1% | 13.3% | 16.2% | 6.6% |
| Free cash flow margin | 10.6% | 11.0% | 8.6% | 10.8% | 4.2% |
| Cash conversion (CFO ÷ net income) | 1.41x | 1.01x | 0.94x | 0.85x | 0.93x |
| Debt ÷ equity | 0.57x | 0.39x | 0.36x | 0.34x | 0.34x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.4B | $3.3B | $3.3B | $3.6B | $3.6B |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.